Latest Stock Market News

ANB Metal Cast is set to list on the NSE SME platform following its Rs 49.92 crore IPO, which was subscribed 2.22 times. The IPO price was Rs 156 per share. The company intends to use the funds for facility expansion and working capital. While revenue and profit have increased significantly, the sustainability of these gains remains a concern.

Alcohol, cigarette, and gaming stocks may be in focus as the government’s GST 2.0 blueprint proposes a 40% “sin tax.” While the structure is being simplified into 5% and 18% slabs plus a 40% rate for luxury/sin goods, the overall tax burden on tobacco will remain unchanged at 88% due to GST plus cess.

Glenmark Pharma reported an 86% YoY drop in Q1FY26 net profit to Rs 46.9 crore, even as revenue stayed flat at Rs 3,264 crore. EBITDA slipped 1.4%, with margins narrowing to 17.7%. India sales rose modestly, while North America saw sequential growth. The company highlighted progress in its Ryaltris, QiNHAYO and Winlevi pipelines. Shares closed slightly higher.

Not only are crypto gains taxed at the income tax rate of 30% (unlike the lower capital gains tax on stock profits), VDA traders can t offset profits with losses to lower the tax outgo. Many high-street banks are reluctant to offer accounts dedicated to pay or receive funds from crypto trades following central bank senior officials occasionally voicing their reservations on VDAs. Besides, there is no clarity under RBI rules and the Foreign Exchange Management Act (FEMA) on whether residents can buy and sell cryptos on offshore platforms.

The revised accounting policy helped Sammaan Capital s report ?661.6 crore gains. In contrast, Axis Bank, which tightened its policy, made additional provisioning of ?614 crore, impacting its earnings. Bandhan Bank implemented procedural changes in the collection of dues, which led to marginal rise in stressed loans, although it did not immediately impact its earnings.

Markets remained mostly unchanged on the weekly expiry day. Vodafone Idea s net losses widened, while Coal India advances its infrastructure plans. Glenmark Pharma reported a net profit, and KEC International secured fresh orders. Inox Wind posted record quarterly profit, and IIFL Home Finance s CEO resigned. Godrej Properties net debt increased amid expansion plans.

FPIs intensified selling in Indian equities in early August due to US import duties, selling ₹20,974.9 crore worth of equities. Despite this outflow, a recent credit rating upgrade by S&P and potential GST reforms offer hope for improved investor sentiment. Domestic mutual funds have increased their investments to partially offset the FPI selling pressure.

Asian stock markets edged higher, with the Nikkei reaching a new high, as investors anticipate the Jackson Hole symposium and potential shifts in U.S. interest rate policy. Oil prices slipped amid easing concerns about Russian supply disruptions, while the dollar remained defensive ahead of the Fed conference. Markets are pricing in a high probability of a September rate cut.

Defense stocks and energy markets are in focus as European leaders support Ukraine amid U.S.-Russia talks. Investors anticipate increased European defense spending due to potential shifts in U.S. policy towards Russia, particularly regarding Arctic energy exploration. This geopolitical shift could lead to a deep energy bear market, impacting Brent crude prices and Ukrainian government bonds.