Latest Stock Market News

Shares of Coffee Day Enterprises Ltd (CDEL) surged by 20% after the National Company Law Appellate Tribunal overturned an earlier insolvency ruling. The decision brings significant relief to the company, which had seen substantial financial challenges, including a recent quarter loss despite a year-on-year revenue increase.

Gold prices have seen significant profit booking in the past week, with April futures on MCX dropping to an intraday low of Rs 84,511 per 10 grams. Meanwhile, silver March futures fell to Rs 93,375 per kilogram. Market sentiments have been hurt by the U.S. President s announcement of new trade tariffs.

JM Financial recommends buying UltraTech Cement with a target price of Rs 13,000, expecting it to rise from its current Rs 10,430.5 within a year. UltraTech s recent entry into the wires and cables segment with Rs 18 billion capex could boost EBITDA by 4-5% by FY27E. Promoters hold a significant stake, indicating confidence in future growth.

Coal India share price: The cumulative coal dispatch during the April-February period rose to 929.41 MT, registering a growth of 5.5% from 880.92 MT produced in the corresponding period of previous year, the ministry said.

BSE share price: Goldman Sachs reduced its target price on BSE shares to Rs 4,880 from Rs 5,650, while maintaining a "neutral" rating. The brokerage noted that nearly 70% of BSE’s average daily turnover is driven by proprietary traders, whose activity may be impacted by upcoming regulatory changes.

Shares of Reliance Industries Ltd fell about 3% to a 52-week low amid global economic uncertainties and continuous FII outflows. In the last six months, RIL shares have lost 23% of their value. Analysts cite heavy FII selling and economic slowdowns as major concerns.

Brokerages including Jefferies and Investec remain optimistic about Polycab, Gujarat State Petronet, and Mahanagar Gas, with new recommendations and target prices. Jefferies maintains a Buy on Polycab, while Investec upgrades GSPL and MGL to Buy amid attractive valuations and positive long-term growth prospects.

Jefferies has rationalized Polycab s target Price-to-Earnings (PE) multiple by 15%, bringing it to 32x now. This adjustment comes despite the brokerage acknowledging Polycab s strong market leadership with a 25% share of the organized market.

​So, typically derating should be an acceptable thing when we are in a monetary tightening cycle because the risk-free rate is going up and as such the valuation should come down.

Tata Motors Share Price: Despite the selloff, some analysts see long-term value. CLSA recently upgraded the stock to ‘high conviction outperform,’ citing attractive valuations and the potential for a cyclical recovery, setting a target price of Rs 930. However, BNP Paribas maintained an ‘outperform’ rating but warned of near-term uncertainties that could keep the stock under pressure in 2025.