Latest Stock Market News

Crypto wallet maker Ledger has partnered with Tony Fadell, the well-known creator of Apple’s iPod and the co-founder and former CEO of thermostat company Nest, to create its Ledger Stax hardware wallet.

The stock traded at a P/E multiple of 108.35, while the price-to-book value ratio stood at 19.49.

There has been a paradigm shift in investment bets towards stocks in the capital-intensive sectors due to the strong domestic macroeconomic factors, improving corporate earnings, and strong balance sheets.

The Nifty Auto index was trading 0.64 per cent down at 12891.05.

The brokerage has a hold call on the counter as it finds BPCL to be expensive on price-to-book value (P/B) basis.

Stocks that were in focus include names like Bank of India which was up nearly 5%, Union Bank of India which gained over 6%, and RCF which was up over 3% on Tuesday.

Hatsun Agro Product’s shares will trade ex-rights in respect of the rights issue of 1 share for every 30 shares held offered at a price of Rs 419 per share.

S&P BSE Sensex fell more than 200 points while Nifty50 closed below 18,700 levels on Tuesday.

While bank fixed deposits or FD interest rates are improving, a handful of stocks still offer better dividend yields. In a report, IDBI Capital has come out with 28 stocks with high dividend yields.

Morgan Stanley maintained its overweight rating on ICICI Bank with a target price of Rs 1250 with an upside of over 35% from Rs 921 recorded on December 6 , 2022.