Latest Stock Market News

Axis Securities has a buy call on Nestle India with a target price of Rs 2520, citing the company s 4% YoY revenue growth due to price hikes. Though Nestle faced cost challenges and a decline in EBITDA, it managed a 6% PAT growth. The RURBAN strategy enhanced distribution reach, and the brokerage remains optimistic about long-term prospects.

The Nifty IT index was trading 0.33 per cent up at 43028.15.

BSE is set to report a 104% YoY revenue increase and triple-digit profit growth for Q3FY25, driven by higher premium turnover and growth in the options segment. Despite regulatory challenges, both Motilal Oswal and Mirae Asset Sharekhan provide optimistic outlooks, expecting substantial transaction revenue growth and improved profitability.

Puneet Chhatwal, MD & CEO of Indian Hotels, discusses the anticipated growth in the Indian hospitality sector driven by the expanding middle class. He highlights Indian Hotels strategic growth through brands like Ama, Qmin, and Ginger, emphasizing their capital-light model and optimistic growth projections of 30-40%. Government initiatives and infrastructure developments are expected to further boost the sector.

Welspun Corp s consolidated net profit surged to Rs 672.19 crore in the December quarter due to lower expenses, despite a drop in total income. The company s order book hit Rs 15,000 crore, boosted by increased demand for ductile iron pipes and strong market conditions in the US and Saudi Arabia.

Solarium Green Energy launches its IPO to raise around Rs 105 crore, with a price band of Rs 181-191 per share. The IPO is entirely a fresh equity sale and aims to fund working capital and corporate purposes. The share allotment is expected on February 11, and listing on February 13.

The rupee, currently valued around 87-87.5, has depreciated to align with other global currencies. Foreseen measures from the Reserve Bank, including revised foreign currency deposit schemes and eased borrowing criteria, are expected to stabilize it. Market participants believe that further accommodative moves by the RBI in the upcoming policy will calm currency concerns.

Hexaware Technologies IPO: The IPO is a complete Offer for Sale (OFS), with promoter Carlyle selling its stake. After the IPO, Carlyle s ownership will decrease to 74.1% from the current 95%.

Page Industries share price:;Page Industries reported a 7.1% increase in revenue, reaching Rs 1,313 crore in the third quarter, while EBITDA surged by 33.6% to Rs 302 crore during the same period.