Latest Stock Market News

Pranik Logistics has launched its SME IPO, opening today and closing on October 14. The company aims to raise Rs 22 crore by selling 29.18 lakh fresh equity shares. Shares are priced between Rs 73-77 each, with 50% reserved for institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Gold prices have been witnessing some profit booking in the last few sessions. In the last one week, gold prices witnessed a decline of Rs 1,200/10 gram while silver prices were down by Rs 3,800/kg in the same time.

Motilal Oswal Financial Services has buy call on Oil India with a target price of Rs 720. The current market price of Oil India is Rs 587.

The stock traded at a P/E multiple of 9.84, while the price-to-book value ratio stood at 1.73.

​Because at this point, they are just throwing money at it. They have fundamental issues, long-term issues and this thing, the market is sceptical that this will resolve the very basic fundamental issues that China is facing right now.

Shares of Tata Consultancy Services will draw attention as it reports its second quarter earnings. Analysts predict a 1.2-2.6% sequential revenue growth and an 8-10% year-on-year net profit increase, driven partly by the BSNL deal ramp-up. Market capitalization remains over Rs 15 lakh crore.

Tata Group shares are in focus as former chairman Ratan Tata passed away at age 86. He was a pivotal figure in the company’s history. Tributes pour in from industry leaders and Prime Minister Modi. Shares of Tata Motors, Tata Steel, and Tata Consultancy Services have risen significantly in 2024. Tata companies will begin reporting second-quarter earnings today.

TCS is set to announce its Q2FY25 earnings, with analysts expecting revenue growth of up to 7.7% YoY, and net profit to rise by 8-10%. Key focus areas include discretionary spending, deal ramp-up, customer behavior post Fed rate cuts, and potential interim dividends.

The Indian market is expected to consolidate on Thursday, influenced by mixed global cues. The Nifty futures experienced a slight decline of 0.05%, closing at 25,119. Key options data indicate maximum Call OI at 25,500 and 26,000 strikes, while maximum Put OI is at 24,000 and 24,500. Analysts suggest a broader trading range of 24,600 to 25,500, with immediate levels between 24,800 and 25,300.

Brokerage firms have issued varied ratings on several stocks: HSBC and Jefferies maintain buy ratings on Varun Beverages and GMR Airports, respectively. Bernstein has an outperform call on PB Fintech, Axis Capital rates Tata Technologies as reduce, and UBS initiates a buy on 360 One, reflecting a mix of optimism and caution in the market.