Latest Stock Market News

Foreign investors have shifted their stance on Indian shares, driven by volatility, lackluster earnings, and a surprise tax hike on equities. They became net sellers, offloading nearly $2 billion worth of stocks in August, after a period of buying in June and July. The NSE Nifty 50 Index still trades at high valuations despite recent dips.

The company aims to raise Rs 215 crore through the IPO, which includes a fresh equity sale of Rs 120 crore and an offer for sale (OFS) of 46 lakh shares. Under the OFS, promoters Ajay Baliram Sawant, Umesh Navnital Shah, Ujwal Arvind Mhatre and Jayes Manharlal will be offloading their part stakes.

Indian benchmark equity indices climbed, led by gains in IT stocks, as robust U.S. economic data alleviated recession fears. Five large and midcap stocks from the Nifty200 index hit new 52-week highs.

Mazagon Dock Shipbuilders has reported a 121% YoY jump in its profit after tax (PAT) to Rs 696 crore while HAL reported a 77% increase in its net profit on a YoY basis. GRSE’s net profit jumped 14% YoY to Rs 87.2 crore for the June quarter.

In a recent ETMarkets live stream, crypto trader Saketh discussed strategies for managing crypto market volatility. Key points included diversification, using stop-loss orders, and leveraging technical analysis. Emphasizing a long-term investment perspective, the session aimed to educate viewers on navigating the risks associated with the unpredictable crypto market.

Rajesh Jejurikar, ED & CEO of Auto & Farm at M&M, announced the launch of the new Thar Roxx, a spacious and comfortable mainstream product. Despite potential cannibalisation with the current Thar, the company expects significant growth. The new Thar Roxx features a platform enhancing ride quality, similar to SUV 700, and is priced competitively.

Paras Defence shares rose 5% to Rs 1,207 after its associate, Controp-Paras Technologies, received a Rs 305 crore order from L&T for 244 Sight-25 HD Electro-Optics Systems. The order will be fulfilled in 47 months, with Paras Defence meeting Indian Content requirements. The stock has gained nearly 60% year-to-date.

The IPO of Broach Lifecare has been oversubscribed nearly 80 times by the third day of bidding, reflecting strong retail investor interest. The retail portion was subscribed over 130 times, while the NII category was subscribed 27 times. The IPO allocates 50% of shares to retail investors and 50% to non-retail investors.

Nifty50 TRI, known for compounding returns, showed an 80% success rate in tripling investor wealth every 10-11 years and doubled wealth over 7 years. It quadrupled returns 81% of the time every 13 years, with a 97% rate when held for 15 years. Investors saw a 5x return 87% of the time in 15 years.