Latest Stock Market News

ABB India, incorporated in the year 1949, is a Large Cap company (having a market cap of Rs 67341.30 Crore) operating in Engineering sector.

NMDC Steel is a newly formed entity post its demerger from mining giant NMDC. The government last month had received in-principle approval from the BSE for a listing of NMDC Steel (NSL).

A total of 7,536 shares changed hands on the counter till 01:27PM (IST)

The company said the objects of the offer are to achieve the benefits of listing. Further, the listing will enhance its goodwill and provide liquidity to the existing shareholders. The company expects that the proposed listing will also provide a public market for the shares in India.

"This is unlikely to represent a critical large structural change to the market, for now," said Vetle Lunde, analyst at Arcane Research. He added: "Enforcement against USDC or the non-U.S. domiciled USDT, could have more dramatic implications."

The stock traded at a P/E multiple of 68.91, while the price-to-book value ratio stood at 4.96.

Gulf Oil Lubricants India, incorporated in the year 2008, is a Mid Cap company (having a market cap of Rs 2161.65 Crore) operating in Petrochemicals sector.

During the day, three Adani stocks - Adani Transmission, Adani Green and Adani Total Gas - hit 5% lower circuit limits. Adani Power, on the other hand, was trading 5% higher. Buying was also seen in ACC and Ambuja Cements on positive newsflow related to restarting operations in Himachal Pradesh.

The Relative Strength Index of the stock stood at 57.7 on Tuesday.

The brokerage has reduced its valuation multiple to 0.8x (from 0.9x) on decline in FY24E ROE due to increase in equity base on one-off gains.