Latest Stock Market News

We had a dull FY23 for the markets with markets being flat for the year. So this is a good beginning to FY24. The Nifty is up by 7.5% in the 3-month period, while our PMS has returned 18.9% over the same period.

Indian benchmarks ended higher on Wednesday, with BSE Sensex climbing 85 points to 63,228, and Nifty advancing 39 points to 18,755. Metals and oil and gas were top gainers, while Financial Services, banks, capital goods, and IT were laggards. Paytm rose 2%, Tata Consumer Products increased 5.17%, and Anupam Rasayan dropped 0.39%. Experts recommended buying Paytm and Tata Consumer and selling Anupam Rasayan. Paytm and Tata consumer are expected to continue their positive momentum, while Anupam Rasayan may further decline towards Rs 900.

So they needed a rate cut, they needed to boost the economy. And I think it was imminent that at some point it will be coming. China are not afraid of moving against the tide and I think I appreciate them for that.

The Indian market is set to consolidate Thursday amidst muted global cues, with the Nifty50 reaching the 18700 level in trading. Analysts suggest an immediate trading range between 18650 to 18850, which produces a broader trading range of 18500 to 18900. Stocks with a short-term trading horizon recommended by various experts include Oberoi Realty, Grasim Industries, and Kansai Nerolac Paints, among others.

From the Sensex pack, IndusInd Bank, Infosys, TCS, NTPC, Reliance, and Tech Mahindra opened with cuts, while Nestle, UltraTech Cement, HUL, Sun Pharma and Asian Paints opened with gains.

I think it has been sort of well-established that after years of virtually no investment, we are reaching a very-very critical stage where you are actually seeing power shortages or most utilities operate at very high PLFs and that is going to drive investments into the sector once more.

I would think that the regulator would probably try and take an exceptional route here and probably set the benchmark that in an exceptional situation like this I think they are allowed to reduce the stake over a period of time if not immediately.

Nabard sold bonds maturing in three years and four months at 7.49%, sources aware of the development said. The bonds are set to mature on October 15, 2026.

A group of 10 banks together own a 9.22% stake in the company, which was valued at ₹75 crore or ₹15.29 per share as part of the takeover by the Ahmednagar-based Malpani Group last June. This stake is currently valued at ₹211 crore, or ₹47.41 per share, and can be encashed by banks as early as June 25 when the one-year lock-in for the stock ends.

The round, which raised ₹60 crore, saw participation from institutional investors, including Tata AIG General Insurance, 360 One Asset Management, Motilal Oswal Mutual Fund, and Think Investments PCC, a foreign institutional investor, said bankers.