Latest Stock Market News

The constituent of debt-laden Reliance Group had reported a consolidated net loss of Rs 4,249 crore in Q4FY22. Its total consolidated income decreased to Rs 4,436 crore from Rs 4,770 crore YoY.

Torrent Power reported a consolidated net profit of INR 483.93 crore for the March 2023 quarter, compared to a net loss of INR 487.37 crore in the same period last year, largely driven by increased revenues. For the full year FY23, net profit rose nearly five-fold to reach INR 2,164.7 crore, while total income increased 59% to INR 6,133.70 crore during the quarter and reached INR 26,075.97 crore in FY23. The company also approved a proposal to issue non-convertible debentures worth up to INR 3,000 crore by way of private placement, subject to approval by members in the ensuing annual general meeting.

The move comes after the recent rally in the stock price, by almost 28% since May 22. Trading restrictions are put in place to curb volatility and potential losses. Stocks are moved into the short-term or long-term additional surveillance framework by bourses to warn investors of unusual movement in share prices.

The final dividend is in addition to the interim dividend of Rs 3.50 per share declared by the Board in February. Revenue from operations surged 40% YoY to Rs 965 crore for the March quarter

According to the block deal data available with the National Stock Exchange (NSE), Rajat Agrawal sold 32 lakh shares, amounting to a 4.6 per cent stake in Gravita India.The shares were disposed of at an average price of Rs 565 apiece, taking the transaction value to Rs 180.80 crore

Oil prices dipped due to economic worries, despite a debt ceiling deal being reached in the US that averted an economic default and helped support higher demand. U.S. President Joe Biden and House Speaker Kevin McCarthy had agreed to suspend the $31.4tn debt ceiling and cap government spending for the next two years. However, markets remain wary of a potential rise in interest rates by the U.S. Federal Reserve, which would be a "headwind for crude oil demand," said analyst Tony Sycamore. OPEC+ is due to meet on 4 June; Saudi Arabia and Russia appear to be divided on whether to cut production output.

The Nifty Realty index was trading 0.87 per cent up at 476.65.

Flexi-cap mutual funds invest in companies with different market capitalizations and are suitable for aggressive investors. Here are five funds with inflation-beating returns over 3-5 years: HDFC Retirement Savings Fund Equity Plan Direct-Growth Fund, HDFC Focused 30 Fund Direct Plan-Growth Fund, ICICI Prudential India Equity FOF Direct - Growth Fund, PGIM India Flexi Cap Fund Direct-Growth Fund, and 360 ONE Focused Equity Fund Direct-Growth Fund. They have different NAV, returns, AUM, expense ratios, and minimum investments.

The rupee finished down on Monday as the dollar strengthened and the Chinese yuan fell to a low not seen for two weeks amid concerns about economic growth in China. The rupee closed at 82.6250 to the dollar, compared to 82.5750 on Friday, while the offshore yuan tumbled to 7.09 against the dollar.

CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.