Latest Stock Market News

Four large-cap stocks, including Britannia Industries, Hindustan Unilever, LTIMindtree, and HCL Technologies, showed weakening momentum with RSI trending down, indicating potential bearish opportunities.

JM Financial recommends buying Ixigo shares, setting a target price of Rs 180 by March 2026. Ixigo, a growing OTA, reported a consolidated total income of Rs 210.92 crore for the quarter ended September 2024. The company is a market leader in train-ticketing and is expanding its position in flight and bus ticketing.

During the December quarter, domestic mutual funds increased their stakes in several Adani Group stocks while foreign investors reduced their holdings. GQG Partners cut its stake in some Adani stocks, whereas LIC maintained its positions with minor adjustments. The market remains watchful following the Adani Group’s bribery scandal in the US.

The rupee initially gained but then slipped by 2 paise to 86.55 against the US dollar in early trade, influenced by high crude oil prices and foreign fund withdrawal. A retreating US dollar provided some support. Wholesale price inflation rose to 2.37% in December, while retail inflation decreased to 5.22%.

As of 31-Dec-2024, promoters held 0.0 per cent stake in the company, while FIIs held 21.32 per cent and domestic institutional investors had 10.43 per cent.

HDFC Asset Management Company reported a 31% jump in Q3FY25 profit, reaching Rs 641 crore. Its revenue grew 39%, driven by strong QAAUM growth. Despite a recent 15% stock decline, analysts project a 26% upside.

The stock quoted a 52-week high of Rs 896.75 and a 52-week low of Rs 430.85.

The company’s revenue from operations in Q3FY25 dropped 23% year-on-year (YoY), falling to Rs 1,361 crore from Rs 1,774 crore in the corresponding quarter of the previous financial year.

Rakesh Rawal, CEO of Anand Rathi Wealth, is confident in achieving their revised guidance of Rs 900 crore in revenue and Rs 290 crore in profit. Despite market volatility, they foresee 20-25% long-term growth potential, driven by robust client acquisition, increased relationship managers, and technology enhancements. They focus on technology for customer value and are open to new products.

Adani Green Energy shares will be in focus on January 15, as its step-down subsidiary, Adani Renewable Energy Forty-Eight Limited, commissions a 57.2 MW wind power component of a wind-solar hybrid project at Khavda, Gujarat. This addition boosts AGEL’s operational renewable capacity to 11,666.1 MW. After receiving necessary clearances, the plant will begin power generation on January 15, 2025.