Latest Stock Market News

The stock has rallied over 65% so far in this quarter. On the daily chart, the stock has been consistently forming higher high and higher low formation and it has also formed a long bullish candle on weekly charts which is largely positive.

Lemon Tree Hotels has also been trading with lower volatility of 0.91 over the 12-month period, the data further suggested. Momentum indicators RSI and MFI are in a medium range of 57.4 and 61.1 which indicates that there is still an upside left in the stock. A number below 20 is considered at oversold while above 70 is seen as overbought.

Price sustaining above 100 days EMA and the recent trendline breakout area signaling further upward momentum in coming sessions.

The IPO is being launched by way of an offer for sale (OFS) of up to 95,708,984 equity shares, representing approximately 23.60% of its paid-up share capital.

"The portfolio, which is broadly into auto, banks, select technology, consumption-oriented stocks and some of the profit-making platform companies, is doing pretty much fine. What we are seeing is that prices have gone nowhere for a lot of stocks in the last 6 to 12 months or so but time has lapsed, earnings trajectory has remained more or less stable. "

Against a basket of currencies, the U.S. dollar index fell 0.12% to 105.12 but remained on track for a weekly gain of nearly 0.6%. It surged earlier in the week after Fed Chair Jerome Powell struck a more hawkish tone than markets had expected at his semi-annual testimony before the Senate Banking Committee.

Gold prices edged up on Friday as the dollar eased after data showed that weekly U.S. jobless claims grew more than expected, spurring hopes that a softening labor market could pave the way for less-aggressive rate hikes from the Federal Reserve.

But since long-dormant Japanese inflation has gathered pace, and following a surprise relaxation of a cap on 10-year yields in December, speculation of changes is rife and has dollar/yen volatility gauges spiking. The yen nudged a little higher to 135.86 prior to the BOJ policy announcement.

Aakash Educational Services will issue convertible notes that will convert into equity at a discount of 20% to the listing price of the unit’s planned initial public offering

PhonePe has already raised nearly $450 million in primary capital from PE major General Atlantic, Tiger Global, Ribbit Capital, among others, in this current funding round at a valuation of $12 billion. Some of the existing shareholders in Flipkart like Bansal, Tiger Global, China’s Tencent, Qatar Investment Authority and Microsoft, were expected to buy a fresh stake in PhonePe, as the company put together a new ownership structure.