Latest Stock Market News

The Relative Strength Index of the stock stood at 61.7 on Monday.

A total of 190 shares changed hands on the counter till 11:00AM (IST)

The oil and gas sector is among the eight core industries in India and plays a major role in influencing the decision-making for all the other important sections of the economy. The industry is expected to attract $25 billion investment in exploration and production by 2022. India is already a refining hub with 23 refineries, and expansion is planned for tapping foreign investment in export-oriented infrastructure, including product pipelines and export terminals.

The SME IPO of Sunlite Recycling Industries opened for subscription on August 12 and closed on August 14. The company aimed to raise Rs 30.24 crore by offering shares priced between Rs 100 and Rs 105. Proceeds will fund capital expenditure, debt repayment, and general purposes. Shares are set to be listed on the NSE SME platform on August 19.

The United States accounts for the highest share of Foreign Portfolio Investors (FPIs) investing in India during the fiscal year 2023-24, highlights a report by the Securities and Exchange Board of India. (SEBI)

Shares of Adani Group companies dropped up to 7% this morning as investors reacted to allegations against Sebi chief Madhabi Buch in the Adani vs Hindenburg controversy. This led to a loss of approximately Rs 53,000 crore, with the combined market capitalization of 10 Adani stocks falling to Rs 16.7 lakh crore.

Markets globally as well as domestically went into a tailspin last week, with the Japanese Nikkei tanking more than 12% on Monday, its worst performance since 1987. However, during the later half of the week, markets recovered, with Nifty ending the week down by 1.4% WoW.

Revenue from operations for the company, which also makes AC stabilizers, rose 47% to 49.04 billion rupees, led by a 51% growth in its cooling products segment.