Latest Stock Market News

Oil prices increased on supply concerns in the Middle East and higher fuel demand due to a major storm in Florida. Israel is planning to strike Iran. U.S. President Biden discussed the issue with Israeli Prime Minister Netanyahu. A recent storm has raised demand for gasoline in Florida, contributing to higher crude prices.

Adani Enterprises has approved a Rs 4,200 crore share sale to large investors through a QIP issue, setting a floor price of Rs 3,117.4750 per share. The issue, managed by SBI Capital Markets Limited, Jefferies India Private Limited, and ICICI Securities Limited, aims to raise funds for the company.

Domestic markets closed lower as stocks like Varun Beverages, Suzlon Energy, and Torrent Power gained attention with notable movements. Analysts suggest potential gains for these stocks given the key support and resistance levels, indicating positive recovery trends if buying momentum continues.

Today marks the start of the second quarter earnings season. TCS, Tata Elxsi, IREDA, and other companies will declare their results for the September quarter. Brokerage firms expect TCS to show up to 8% year-on-year revenue growth. Key points include the BSNL deal ramp-up and commentary on the FY25 demand environment.

Eleven stocks, including BirlaSoft, Bandhan Bank, and Tata Chemicals, fall under the F&O trade ban as their open interest exceeds 95% of MWPL. Exiting the ban requires open interest to drop below 80%, with various stocks showing slight decreases in OI from the previous session.

Shares of IREDA will be in focus as the company announces Q2FY25 earnings today. Expected net profit is Rs 410 crore, a 44% YoY increase, while NII may rise by 45% to Rs 522 crore. Loan sanctions jumped 303% to Rs 17,860 crore.

​There will be excitement around this Hyundai IPO and the stocks will get excited. But having said that, if you are talking about medium to long term, it is better to wait and watch and it is much better to play this space through ancillaries because we have fantastic auto ancillary companies and some of these auto ancillary companies are global in nature.

​There will be recalibration even on the risk pricing rates front as well. Perhaps we might see some review in guidelines coming from RBI in near future, say in terms of how the risk pricing, credit risk management should happen.

The company told stock exchanges that eligible investors include but anchor investors such as DBS, HSBC, Citicorp Investment Bank (Singapore), Mizuho Bank, Singapore and other foreign portfolio investors qualified during the bidding process.