Latest Stock Market News

The Nifty IT index closed 0.01 per cent up at 39114.85.

The Indian market closed lower for the second consecutive day on Tuesday, following weak global cues. Sector-wise, consumer durables saw some buying, while telecom, PSU, banking, metals, and oil & gas stocks experienced selling.

The Board of Hindalco Industries approved the appointment of Ananya Birla and Aryaman Vikram Birla as Additional Non-Executive Directors of the company.

The shares of Aditya Vision surged and closed 5% higher at Rs 4,401 on BSE today after the company on Monday announced August 27 as the record date for the sub-division of its shares in the ratio of 1:10.

The Nifty Realty index was trading 0.1 per cent down at 1034.65.

Stock market fluctuations are unavoidable and can induce fear in investors, often leading to poor decisions. Arun Kumar, VP & Head of Research at FundsIndia gives some insight into the current market conditions and strategies for managing investments.

Pashupati Advani, Founder of Global Foray, discussed his recent investment in Tata Consumer and his positive outlook on infrastructure. He noted strong domestic investor participation and significant SIP inflows despite global market issues. Advani also shared concerns about private banks and expressed caution towards IPOs, mentioning challenges in the fintech sector.

Signature Global reported a robust 63% CAGR in pre-sales from FY21 to FY24, fueled by the expansion of projects under execution and a shift towards premium offerings. Motilal Oswal anticipates that this strong pre-sales growth will significantly accelerate the company’s operations across key metrics such as cash flow, revenue, and profitability. This, in turn, is expected to bolster confidence in the company’s execution capabilities and future growth prospects.

Unicommerce eSolutions made a spectacular debut on the exchanges on Tuesday, listing at Rs 235 per share, which is a staggering 117% premium over its issue price.

KM Birla-promoted Hindalco Industries on Tuesday reported a 25.3% rise in consolidated net profit for the quarter that ended June 2024, on the back of operational efficiencies, and lower input costs, the company said.