Latest Stock Market News

Sony achieved a 10% increase in operating profit for April-June, driven by its image sensor business. This segment, vital to smartphone makers, saw profits triple. PlayStation 5 sales were down compared to last year, but gains in software sales helped the gaming segment. Sony aims to sell 18 million PS5 units this year.

Global volatility is here to stay for some period of time, till US elections because we still do not know what kind of tariff hike US can do and there is also element of currency depreciation which is also coming as a renewed fear and that can keep the volatility at higher levels and while the near-term concerns because of this has subsided, but volatility is going to be there.

Sebi evaluated diverse accounting standards and considered expanding mandatory sustainability reporting beyond the top 1,000 companies. The ICAI provided a comparative analysis of different reporting standards.

The IPO of Brainbees Solutions, owner of FirstCry, saw only 17% subscription on day two. Retail investors subscribed at 71%, while institutional investors lagged. The price per share is set at Rs 440-465. With promising growth and market potential, analysts suggest a long-term investment. The company plans to expand its retail and international presence.

On the technical charts, the RSI of the stock stood at 64.11.

A total of 3,924 shares changed hands on the counter till 12:48PM (IST)

SoftBank Group revealed plans to repurchase $3.4 billion in shares, responding to investor calls to improve stock value. This move follows a narrower quarterly loss and aims to strengthen finances after challenges like the WeWork debacle. The repurchase will be up to 6.8% of its shares over the next year.

The stock traded at a P/E multiple of 31.27, while the price-to-book value ratio stood at 4.96.

The brokerage believes that the Indian economy stands at a sweet spot of growth and remains the land of stability against the backdrop of a volatile global economy.

As of 30-Jun-2024, promoters held 51.14 per cent stake in the company, while FIIs held 17.43 per cent and domestic institutional investors had 16.08 per cent.