Latest Stock Market News

Gargi Chaudhuri remains positive on US equities, forecasting 8% growth in Q4 2024 and 13% for 2025

Bank of Maharashtra (BoM) reported a 36% YoY increase in Q3FY25 net profit, reaching Rs 1,406 crore. Interest earned rose by 22% to Rs 6,324.65 crore, while interest expended grew by 25% to Rs 3,381.38 crore. Despite the strong earnings, BoM shares traded 2.81% lower at Rs 51.26 around 3 pm on Wednesday.

Jio Finance Ltd., owned by Mukesh Ambani, plans to enter the local currency debt market for the first time, likely in the January-March quarter. The funds will be used for onlending to industries. Despite tighter RBI regulations, Jio Finance, with its top AAA credit rating, aims to leverage favorable borrowing conditions. It also offers various financial products and services.

Indian benchmark indices ended a second consecutive day in green on Wednesday, as declines in pharma and auto stocks were offset by gains in heavyweight financials and Reliance Industries, even as concerns over slowing earnings growth kept a lid on the overall gains for blue-chip stocks.

Anshul Saigal of Saigal Capital discusses navigating market volatility through long-term investments in sectors like textiles, retail, and the Adani Group. He highlights opportunities in stocks with earnings growth visibility and emphasizes the importance of understanding market cycles.

L&T Tech Q3 Results: On a sequential basis, net profit for the reporting quarter rose marginally by 0.9%, while revenues increased by 3%. In constant currency (CC) terms, revenue growth for the quarter was nearly 9% year-on-year (YoY), and in USD terms, revenues stood at $312 million.

The Indian rupee rebounded on Wednesday, achieving its best day in over seven months. The currency closed at 86.3625 against the U.S. dollar, up 0.3%. This recovery followed a decline to a lifetime low in the previous session. Contributing to the rebound were dollar sales by foreign banks and a softer greenback.

The Nifty IT index closed 0.79 per cent at 43401.25.

HDFC Life Q3 Results: HDFC Life Insurance Company on Wednesday reported a 15% jump in its consolidated December quarter net profit at Rs 421.31 crore versus Rs 367.54 crore posted in the year ago period.