Latest Stock Market News

SMID indices have lagged Nifty50 by 4-9 per cent since August 2021, and given the historical SMID relationships with largecaps, potential rate hikes and investors’ flight to safety implies more underperformance is highly likely, Edelweiss said.

A total of 518,833 shares changed hands on the counter till 11:57AM (IST).

"As the state election results are by and large in-line with exit poll predictions, the equity markets will move on to more important aspects in the near term: the Russia-Ukraine geopolitical conflict, the US Fed rate hikes, elevated crude oil prices and the RBI’s response to rising inflationary pressures in the economy," said Motilal Oswal Securities.

In the spot market, highest purity gold was sold at Rs 52,880 per 10 gram while silver was priced at Rs 69,815 per kg on Tuesday, according to the Indian Bullion and Jewellers Association.

“This divestment represents a very attractive purchase price and allows us to focus on our core agricultural business and the successful implementation of our Crop Science Division growth strategy,” Rodrigo Santos, Member of the Board of Management of Bayer AG and President of the Crop Science Division, was quoted as saying in reports.

Following the development, Kirloskar Ferrous zoomed 10 per cent to Rs 206, before paring up some gains to trade at Rs 203.50 at 9.40 am. The scrip had settled at Rs 187.35 on Thursday.

The stake sale is part of the disinvestment drive of the government. In January, the government approved the sale of loss-making NINL to Tata Steel Long Products for Rs 12,100 crore.

The stock quoted a 52-week high price of Rs 4577.45 and low of Rs 2475.3.

As part of the agreement, Exide will commercialise the technology owned by SVOLT in lithium ion cells, reports said, adding that SVOLT Energy Technology will provide Exide with the support to set up a manufacturing plant.

“Despite all the accusations, Modi’s credibility remains so high that he can afford to go for a sensible economic policy. He can afford to go towards freeing up the economy, creating a situation where business can flourish and where foreign investment as well as Indian investment will go. So these are the conditions he will be able to focus on rather than focussing on freebies.”