Latest Stock Market News

Ruchi Soya cleared another hurdle to launch its Rs 4,300-crore follow-on public offer (FPO) after Patanjali Ayurved, the company’s main promoter, told the Delhi high court that it will continue to hold majority stake in the Indore-based FMCG company for the next 90 days.

Promoters of Sterling and Wilson Solar have further pledged their shares in the company for raising capital from financial lenders. Kainaz Daruvala, a member of the promoter group of Sterling, has pledged 4.9% of her shares in the company, worth Rs 221 crore, to IIFL Wealth Finance.

The Directorate General of Civil Aviation (DGCA), which had banned operations by Boeing MAX aircraft in March 2019 after two fatal crashes, on Thursday, allowed operations of these airplanes in India. This order will not just allow SpiceJet to restart operating its Boeing 737MAX aircraft but would also allow foreign airlines like Flydubai to fly in their aircraft into the country.

There are reasons to be bullish about the prospects for Indian carriers to expand and compete more aggressively on international routes, for example Air India privatisation, large fleet of long haul narrow-bodies, and possible revival of Jet.

FPIs pulled out $1,535 million from financial stocks last month, according to a report by Kotak Institutional Equities.

In another transaction, Rajkumar Damani sold 40,000 shares of DU Digital at Rs. 60.3 apiece through a bulk deal on the NSE.

Revenue from operations rose 23.96 per cent to Rs 786.59 crore as against Rs 634.53 crore in the April-June period last year.

The expiry of the current month derivative series went off rather smoothly without any major volatile moves. Strike price 16,700 saw the highest Call open interest buildup throughout the day.

Gaurav Ratnaparkhi of Sharekhan expects Nifty50 to see a minor degree dip over the next couple of sessions, as short-term momentum indicators are pointing towards a potential dip.

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