Latest Stock Market News

On January 28, five stocks saw a long buildup, with increased open interest and stock price gains, indicating a bullish trend. Stocks include Bank of India, Cholamandalam, Union Bank, AU Small Finance, and IDFC.

Some of the auto ancillary companies which are though you may not want to call them as a completely largecap, but in the high range of midcaps they are relatively a better placed.

Balkrishna Industries’ shares rose 3.4% after Nomura upgraded the stock to “buy,” citing strong growth prospects and attractive valuations. Nomura set a target price of Rs 3,242, expecting a 22% upside, driven by global market strength and strategic diversification. The company’s strong Q3 performance, robust market share, and investments in OTR tyre capacities support this outlook.

Paytm’s shares fell 1.69% to Rs 767 on January 28, following the announcement of Nakul Jain’s resignation as CEO and MD of Paytm Payments Services (PPSL). The resignation is effective by March 31, 2025, as Jain pursues an entrepreneurial journey. PPSL is actively seeking a replacement, and the new appointment will be announced in due course.

Short covering was observed in MGL, Manappuram Finance, PNB, Tata Steel, and Apollo Tyres, with a decrease in open interest and price increases in each stock during Tuesday’s trading session.

Shares of Anant Raj dropped significantly by up to 19.75% due to a global sell-off in technology stocks. The slump followed the launch of a low-cost Chinese AI model by DeepSeek, which has quickly gained popularity, overshadowing competitors like ChatGPT and contributing to market declines.

The NSE Nifty Smallcap 250 Index was on course to enter a bear market after losing more than 3% early in Tuesday’s session. It sank 3.7% on Monday. Small- and mid-cap stocks seem to be bearing the brunt of the latest slide as risk-off moves deepen.

Top brokerage firms have recommended stocks with strong growth potential for 2025, highlighting attractive opportunities in real estate, banking, pharmaceuticals, steel, and consumer goods. Stocks like DLF, ICICI Bank, Torrent Pharmaceuticals, Godrej Consumer Products, and JSW Steel are projected to offer returns between 22% and 43%.

The Nifty future closed lower with a loss of 1.22%, settling at 22,831 levels on Monday. Meanwhile, India VIX rose by 8%, closing at 18.13 in the previous trading session.

Tata Power’s subsidiary TP Solar secured a Rs 455 crore contract from MSPGCL to supply 300 MWp of solar modules across Maharashtra. This is part of a broader 750 MWp tender. The modules will support the MSKVY 2.0 project. Tata Power’s plant in Tamil Nadu, which manufactures ALMM-certified modules, plays a key role in indigenizing India’s solar value chain.