Latest Stock Market News

The Nifty Bank index closed 0.02 per cent down at 38210.3.

The retail unit of Reliance Industries, Reliance Retail Ventures Ltd, has picked up a 54% stake in robotics startup Addverb Technologies for $132 million

Emkay Global expects Bajaj Auto to report a 21 per cent YoY fall in standalone profit after tax at Rs 1,229.80 crore compared with Rs 1,556.30 crore in the year-ago quarter. Sales are seen rising 2.2 per cent YoY to Rs 9,101.50 crore from Rs 8,909.90 crore YoY.

Brent crude futures were trading around $87 a barrel on Tuesday, while U.S. West Texas Intermediate (WTI) crude futures at $85 a barrel.

The pan-European STOXX 600 index dropped 0.9 per cent, with tech stocks declining 1.5 per cent after U.S. treasuries fell along the curve.

In a separate filing, Newgen said its Board has approved the purchase of 100 per cent of the paid-up equity shares of Number Theory Software from its existing shareholders, Tarun Gulyani and Rajan Nagina.

"The IWL Committee of the Board of Directors for Operations of the Company in their meeting held today i.e. 18 January, 2022 have accorded its approval to participate in the proposed offer through an offer for sale of equity shares aggregating up to an amount of Rs 400 crore," a BSE filing stated.

However, the company stated that its net profit was Rs 81.25 crore for the quarter ended September 30, 2021. Its total income stood at Rs 688.52 crore in the quarter ended December 2021.

“Chemistry and material science development is proceeding further and which is what I think the Indian government could really focus on if it wants to make EVs a big thing in India. Reality is we are so far behind on material science in this country that it is unbelievable.”

Effective January 19, 2022, an average increase of 0.9 per cent will be implemented, depending on the variant and model, the automaker said in a statement. At the same time, the company has also taken a reduction of up to Rs 10,000 on specific variants, in response to feedback from customers, it added.