Latest Stock Market News

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.

Sandip Sabharwal discussed recent performance trends in various sectors, noting disappointing outcomes for OMCs and the potential for continued undervaluation in M&M auto stocks. He expressed concerns about the chemical and real estate sectors facing challenges due to weak demand and tight liquidity. The article provides insights on potential movements within these industries.

Happiest Minds reported mixed performance for the quarter. It reported revenue of Rs 4.6bn( up 11.2% QoQ, up 18.7% YoY) with the sequential growth led by contribution from two acquisitions- 1) Puresoft Technologies 2) Aureus Tech.

Suprajit Engineering revealed a buyback of shares worth Rs 112.5 crore, setting August 27 as the record date and a buyback price of Rs 750, signaling a significant premium. This led to a stock surge of 10.35%, reaching a new high of Rs 595. The buyback will involve 15,00,000 equity shares at the given price.

We cut our EPS estimates by 11.2%/6.9% for FY25E/FY26E and downgrade the stock to a “HOLD” given near term growth challenges in publishing division and rising competitive intensity in domestic stationary market.