Latest Stock Market News

Piramal plans to use proceeds from a new bond issue to fuel its rapidly growing retail business, which has seen a 50% annual expansion in the past two years. While primarily relying on domestic borrowing, Piramal is strategically adding foreign debt to diversify its funding mix, currently composed of NCDs, bonds, loans, and pass-through certificates.

Madhusudan Kela has over Rs 2,092.2 crore invested in various stocks. He suggests increasing the lot size in the stock market to deter excessive retail participation. He believes this would be a better solution than imposing additional taxes, which he considers excessive and harmful to the market.

52-week high indicates the peak value a stock has attained over the previous year, serving as a vital metric for traders and investors.

Indian benchmark equity indices closed marginally lower on Monday, dragged by Reliance Industries, and Kotak Bank. The S&P BSE Sensex closed 0.13% lower at 80,502, while the NSE Nifty50 index ended below the 24,550 level.

WazirX, one of India’s leading cryptocurrency exchanges, recently faced a significant security breach, resulting in a loss of over $230 million. This incident, the largest of its kind in India to date, has prompted a thorough examination of security measures and investor protections within the burgeoning crypto ecosystem.

The Economic Survey reveals that 20% of Indian households are now investing their savings in financial markets. It cites data showing that unique tax IDs registered on the NSE surged to 92 million in FY24, from 27 million just five years ago.

Markets regulator Sebi on Monday extended the deadline for submission of public comments to July 29 on the proposal of providing additional time for disclosure of litigations or disputes involving claims against listed firms.

The Tatas have raised the authorized equity capital of Tata Electronics to Rs 10,000 crore in FY24, indicating they may make fresh equity infusion of over Rs 6,000 crore since the paid up capital till now is Rs 3961 crore.

Favorable announcements in the housing sector could boost stocks of realty, cement, and housing finance companies. Credit ratings agency CareEdge predicts the government will increase funding for affordable housing schemes, driving construction and employment.

The rupee on Monday touched a record low intraday level versus the US dollar as a weaker Chinese yuan dragged Asian units lower, with likely interventions by the Reserve Bank of India reining in weakness in the local currency, whose valuation has become pricier, dealers said.