Latest Stock Market News

On Monday, metal stocks rose, driven by moderate valuations and an anti-dumping investigation on Vietnamese hot-rolled coil imports. The Nifty Metal Index gained 1.87%, and companies like National Aluminium and Hindalco saw significant increases. Analysts, however, remain cautious due to challenges from Chinese imports despite the recent valuation corrections.

Vedanta sold 63.6 million shares of Hindustan Zinc, raising ₹3,100 crore, yet fell short of the planned ₹6,500 crore. Despite high investor interest, share prices of Hindustan Zinc and parent company Vedanta have seen significant declines. Removal of green shoe options influenced the final outcome of proceeds.

Biofuel producer TruAlt Bioenergy, based in Bengaluru, filed its draft prospectus with Sebi to raise funds through an IPO. The issue includes ₹750 crore fresh issue and 36 lakh shares for sale by promoters. Proceeds will be used to establish multi-feedstock operations, including grains, and support working capital and corporate expenses.

Antfin Singapore, part of Alibaba Group, arranged to sell a 1.54% stake in Zomato on Tuesday through block deals, anticipating raising around ₹3,400 crore. The shares were priced at ₹251.68 each, a 4% discount to the previous closing price. Antfin previously held a 4.24% stake and had sold a 2% stake earlier this year.

Hindustan Aeronautics (HAL) and other companies including Symphony and Pfizer set August 21 as the record date for dividends. HAL declared a Rs 13 per share dividend. Today is the last day to purchase shares to be eligible. Several other firms will start trading on an ex-dividend basis from Wednesday.

European shares increased on Monday, supported by retail and basic resources stocks. The STOXX 600 index reached a three-week high. Meanwhile, defense stocks dipped due to potential German budget constraints on military aid to Ukraine.

Vedanta will utilise the proceeds generated from the OFS for deleveraging its balance sheet and investment in its growth projects. This, coupled with the Rs 8,500 crore qualified institutional placement, will help bring down debt at the company as well as at the group level.

Carl Icahn and Icahn Enterprises LP settled with U.S. regulators for $2 million over failing to disclose that most of their securities were pledged for personal loans. The SEC probe followed allegations from Hindenburg Research. While the investigation found non-disclosures, it did not validate claims of a Ponzi-like scheme. Icahn rebutted the accusations.

Shares of some mpox vaccine and drug developers jumped sharply on Monday in premarket trading, putting them on track to extend gains from last week as concerns over an outbreak of the virus rise.