Latest Stock Market News

Shares of renewable energy firm Suzlon jumped around 5% after the company launched a QIP to raise up to Rs 2,000 crore. Max Financial Services rose about 10% as Axis Bank agreed to buy an additional 6.23% stake in the insurance company.

"On a relative basis, we are not as expensive as one would have imagined simply because the entire emerging market pack has also gone up. That provides some degree of downside support to the market, even though near term, because of absolute valuations, you could see some degree of volatility. The way we have been constructing our portfolio is clearly looking at pockets of growth where earnings growth sustainability is visible."

BofA has a buy view on the Zomato counter for a price target of Rs 110. It sees momentum remaining strong with a clutch of catalysts likely helping the company to further get a re-rating. The platform fee, World Cup and Swiggy IPO re-rating could be the likely triggers. Blinkit shareholder lock in expiry opens August 5

Sun Pharmaceutical Industries, incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 276847.27 Crore) operating in Pharmaceuticals sector.

A dividend is a share of profits and retained earnings that a company pays out to its shareholders.

While the policy stance was on the expected lines, the RBI’s decision to impose an incremental Cash Reserve Ratio (CRR) of 10% of NDTL on banks dampened Dalal Street’s mood. The incremental CRR has been imposed for May 19-July 28 period, and the RBI will review the same on September 8, Das said, adding that the move is “purely” a temporary measure.

The US CPI inflation data for July that is to be announced later in the day will be crucial for the metal, Singh said, adding that softer than expected CPI data may support the metal prices to some extent. However, the upside may remain capped as most of the recent US macroeconomic data have been mostly upbeat

On the technical charts, the 200-day moving average of the stock stood at Rs 2781.21.

And even though the valuations look attractive, there is outlook for better ad spend by most of the end-user industries it is very difficult to build confidence in the stock at current levels.

"We had upped the prices last year when oil was somewhere around $120 odd. We have not really reduced or done anything and therefore the margins have expanded and along with that, rebating has gone up a little bit in the marketplace. If the prices go up, we tend to adjust."