Latest Stock Market News

"They (SBI) are likely to come out with a fresh infrastructure bond issue with a maturity of 15 years for up to ₹10,000 crore. The timing would likely be around the end of the month or early in September, after looking at market conditions following events such as the MPC meet and the inflation numbers," a source aware of the development, said.

Offshore subsidiaries of Indian diamond merchants have had fund transfers worth almost $26m frozen after US authorities claimed the rough diamonds were mined in Russia. The Office of Foreign Assets Control (OFAC) singled out UAE subsidiaries of Indian jewellers it claims have connected suppliers with Russian investors.

Jio Financial is expected to listed soon, RIL said in its annual report as it seeks to propel its recently carved out unit into India’s largest non-banking lender

Ambani, 66, will cross the company law-mandated 70 years age for the chief executive of the company and requires a special resolution by the shareholders for him to be appointed beyond that age bar.

“The new entity is expected to unlock value for shareholders and give them an opportunity to be a part of a new growth platform,” Reliance’s billionaire chairman Mukesh Ambani in his message to shareholders in the annual report for the financial year that ended Mar. 31.

Pune-based Bank of Maharashtra posted the highest NIM of 3.86 per cent, followed by Central Bank at 3.62 per cent and Indian Bank at 3.61 per cent during the quarter.

Stocks that were in focus include names like Cipla which hit a record high and closed with gains of nearly 4%, Zomato rallied over 10% and Info Edge closed with gains of nearly 8% with a rise in volumes on Friday.

The production of different spices has been growing rapidly over the last few years. Production in FY21, FY22 and FY23 was 11.04, 10.88 and 11.14 million tonnes, respectively.

The US data since the last FOMC meeting were mixed as the Manufacturing PMIs remain below 50 since the start of the year while labour market still remains tight as seen in ADP figures. Meanwhile, the non-farm payrolls continued to decline over the past 2 months, showing early signs of moderating Jobs growth

The IPO comprised a fresh issue of up to Rs 490 crore and an offer for sale (OFS) of Rs 65.51 lakh shares. The issue received a thumbs-up from analysts with most recommending a "subscribe" over strong financials and growth potential in Northern India