Latest Stock Market News

Titagarh Rail Systems shares rose 3% after securing a Rs 467.25 crore LoI from GRSE to build two research vessels for the Geological Survey of India. The project, to be completed in 28 months under Indian Register of Shipping norms, comes as the company struggles with stock weakness—down 23% YTD despite a brief six-month recovery.

Avanse Financial Services, the Warburg Pincus-backed education financing firm, is weighing a delay in its planned IPO amid slowing loan demand caused by stricter US visa rules, according to people familiar with the matter. The Mumbai-based lender may wait for overseas loan demand to improve before resuming the share sale, though deliberations are ongoing and no final decision has been taken.

Sudip Bandyopadhyay suggests that GST reduction and other factors will boost consumer durables and cement industries. He recommends Voltas and Amber Enterprises in the consumer durables sector. While positive on market infrastructure institutions long-term, he notes potential short-term volatility due to regulatory focus on curbing speculation, impacting exchanges and broking houses.

Just before Ganesh Chaturthi, bank credit grew faster than deposits. RBI data shows credit growth at 10.22% and deposit growth at 10.05%. Last year, credit growth was higher at 13.7%. Bankers anticipate stronger credit growth in the second quarter, driven by festive demand. Deposit growth is slow due to repricing and alternative investments.

Equity investment by Indian companies abroad witnessed a 22% decline in July compared to the previous year, totaling $1.592 billion, according to RBI data. This decrease occurred amidst stricter regulations on outward foreign direct investment. However, total financial commitment increased due to a rise in guarantees issued, reaching $3.512 billion.

The Reserve Bank of India is reviewing its inflation targeting framework, established in 2016, and seeks stakeholder input on potential adjustments. While acknowledging the success of the 4% target, the RBI is open to considering alternative benchmarks, including core inflation, and adjustments to the tolerance band. The review aims to improve macroeconomic outcomes amidst emerging global challenges.

Indian insurance companies are proceeding carefully with new investments. Equity derivatives adoption remains slow despite regulatory approval. Bond forward rate agreements see limited activity. Insurers are developing risk management frameworks and upgrading IT systems. They plan to start with small exposures in equity derivatives. Discussions included gold ETFs and REIT limits. Regulators are urging diversification within existing limits.

A block trade involving Clean Science and Technology s promoters faced disruption due to a broker error by Avendus Spark Institutional Equities. A punching error led to the sale of significantly more shares than authorized, causing concern for the company and investors. Avendus Spark is taking steps to rectify the situation, assuring no financial impact on the seller.

SEBI is considering extending the tenure and maturity of equity derivative contracts to enhance hedging and long-term investing, according to Chairman Tuhin Kanta Pandey. This move aims to deepen the cash equities market, the foundation of capital formation, while ensuring risk awareness and suitability among participants. The regulator seeks stakeholder input for a calibrated approach.