Latest Stock Market News

Infosys revised its FY24 revenue guidance from its earlier estimate of 4-7% constant currency growth to 1-3.5%. A key driver for the lower revenue guidance has been the slowdown in the global BFSI sector​

Consumer goods company, Colgate-Palmolive, has raised its annual forecast for organic sales and profits, citing resilient demand for its pet products and self-care. The company increased its prices to tackle wage pressures and steep costs of raw materials and packaging.

​A 9-day EMA of the MACD called the signal line, is plotted on the top of the MACD, which provides the likely trading strategy in a stock i.e. a buy or a sell.​

Shyam Metalics has announced a new capex of close to INR 3,900 crore ($525m) and it is adding more capacity for speciality alloys, power gen and different products. The company aims to see a 15-20% YoY CAGR and the bottom and top lines are set to improve. Despite muted numbers recently, margin has remained relatively stable as the company is an integrated player. The company has a fundraising plan for around INR 3,600 crore and a capex plan of INR 4,000 crore.

RSI is a popular momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is typically used to identify overbought and oversold conditions in a stock

Renewable energy company Oriana Power is set to open its IPO on August 1, which is expected to close on August 3. The IPO is exclusively a fresh equity issue, with the company offering 50.5 lakh equity shares priced between ₹115 ($1.54) and ₹118 ($1.58) apiece.

Nifty Bank settled at 45,468, losing more than 211 points or 0.46% over Thursday’s closing.​

The Nifty Bank index closed 0.46 per cent down at 45468.1.

Eight BSE MidCap stocks achieved new 52-week highs on the latest trading day. Godrej Properties and Oberoi Realty take the lead, accompanied by other prominent companies like Lupin and Tata Communications, reflecting positive market momentum and growth potential.

Investors should be selective while participating in the market as some sectors are overvalued. However, many sectors and stocks are showing growth after years of stagnation and are available at reasonably good valuations, making it a good time to invest. The staple and chemical sectors are showing some signs of overvaluation, as are some pockets of the tech sector. In contrast, the utility sector looks interesting due to lack of investment in renewables or power in the last few years.