Latest Stock Market News

Bank of Baroda, incorporated in the year 1911, is a banking company (having a market cap of Rs 131481.88 Crore).

Trom Industries’ shares listed on the NSE SME platform with a 90% premium, debuting at Rs 218.5 compared to the issue price of Rs 115. The IPO, involving 27.27 lakh fresh equity shares, saw a robust response with over 400 times subscription. Proceeds will fund capital expenditures, working capital, and corporate purposes.

A total of 128,166 shares changed hands on the counter till 10:00AM (IST)

Brainbees Solution, known for its FirstCry brand, declared a price band of Rs 440-465 for its Rs 4,194 crore IPO, open from August 6-8. The IPO includes a fresh issue of Rs 1,666 crore and an offer for sale worth Rs 2,528 crore. Funds will support new stores, subsidiary investments, overseas expansion, and marketing.

Earnings season commenced with 88 companies announcing results. Key highlights included ITC, Sun Pharma, Tata Motors, Adani Enterprises, and Zomato reporting. ITC and Dabur anticipated revenue growth from cigarettes, hotels, and FMCG segments. Tata Motors projected strong profit growth. Zomato maintained robust performance from prior quarters, offering promising outlooks.

Oil prices surged in Asian markets following the assassination of Hamas and Hezbollah leaders, raising concerns of a broader Middle East conflict. Robust U.S. oil demand and declining stockpiles contributed to the price increase. A weaker dollar further supported oil demand from international investors.

The U.S. dollar fell on Thursday as the Federal Reserve suggested a possible interest rate cut in September. Meanwhile, the yen surged to its highest level since March after the Bank of Japan raised rates. Traders are now focused on upcoming inflation and jobs reports, expecting significant easing this year.

The Bank of England considered cutting interest rates after maintaining them at a 16-year high of 5.25%. A close vote among policymakers was expected, with market probabilities suggesting a 66% chance of a quarter-point cut. Inflation trends and labor market conditions influenced this potentially crucial monetary policy decision.

Zee Entertainment Enterprises raised $239 million via foreign currency convertible bonds to bolster its financial position and drive growth strategies. This fundraising initiative aims to provide the necessary capital for both organic and inorganic expansion. The bonds attracted interest from various funds. Additionally, the company is addressing staff morale following a 15% workforce reduction.

State Bank of India (SBI) and Canara Bank planned to raise up to ₹19,000 crore via debt issuances in response to higher loan demand and slower deposit growth. SBI aimed for ₹15,000 crore through tier-2 bonds, while Canara Bank sought ₹4,000 crore through additional tier-1 bonds, following previous substantial bond issuances.