Latest Stock Market News

LIC reported a consolidated net profit of Rs 10,544 crore for the first quarter ending June 2024, reflecting a 9% increase from Rs 9,635 crore in the same quarter last year. During the quarter, net premium income rose by 16% year-on-year to Rs 1.14 lakh crore, compared to Rs 98,755 crore in the corresponding period of the previous year

A total of 96,635 shares changed hands on the counter till 12:07PM (IST).

Foreign institutional investors (FIIs) turned net buyers as they bought equities worth Rs 406 crore on August 9, while domestic institutional investors bought equities worth Rs 3979 crore on the same day.

Ola Electric was listed on Friday, August 9 disappointing investors as it got listed at par with the issue price of Rs 76. However, later during the day, the stock surged 20% to hit an upper circuit high of Rs 91.20 on NSE.

Vikas Khemani, Founder of Carnelian Asset Management, discussed how repeated short-seller attacks by Hindenburg are seen with skepticism. He emphasized that markets are no longer easily swayed by such actions, citing manipulated facts and credibility issues. Khemani suggested that recent claims linking investments with the Adani Group are unsubstantiated and should not significantly impact market reactions.

On Friday, gold and silver settled on a mixed note in the domestic and international markets. Gold October futures contract settled at Rs 69,895 per 10 grams with a gain of 0.27% while silver September futures contract settled at Rs 80,543 per kilogram with a loss of 0.09%.

Life Insurance Corporation of India key Products/Revenue Segments include Amount transferred from Policyholder Account, Interest, Dividend & Rent, Profit/Loss on Sale/Redemption of Investments and Other Operating Revenue for the year ending 31-Mar-2022.

Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 40454.22 Crore) operating in Pharmaceuticals sector.

EBITDA for the quarter ended June 2024 was reported at Rs 706.36 crore and the company has also announced an interim dividend of Rs 5 per share for its eligible shareholders

Analysts have picked several stocks with promising technical setups, suggesting potential gains of up to 35% in the near term