Latest Stock Market News

Brokerages have initiated coverage on several stocks, including Swiggy, Hyundai Motor, Tata Technologies, GMM Pfaudler, and JSW Energy, with up to 98% upside potential

The Indian rupee reached a record low against the U.S. dollar, falling past 86, driven by a stronger-than-expected U.S. jobs report that diminishes the likelihood of significant Federal Reserve rate cuts this year. The robust U.S. employment figures add to bearish pressures on the rupee.

Nischal Maheshwari believes the banking sector is undervalued with opportunities in large private banks. He is also positive on the FMCG sector, especially staples, and the IT industry. Maheshwari cautions waiting in the MFI sector. Cement is expected to improve in the next two quarters while chemicals remain uncertain. Capital market stocks should be held on to for now.

When the closing price falls below the VWAP, it signifies that the closing price is lower than the average price at which it was traded throughout the day, with the average being weighted by trading volume

The Indian market is expected to trade lower on Monday due to weak global cues. Nifty may see weakness towards 23250 zones with resistance at 23600. Experts recommend buys in stocks like Bharat Dynamics and Bharti Airtel, while suggesting sells in PEL and Axis Bank.

Axis Securities has set a target price of Rs 2110 for HCL Technologies. The current market price is Rs 1951. HCL Technologies has strong revenue visibility with multiple long-term contracts. It reported a total income of Rs 29318 crore and a net profit of Rs 4237 crore for the latest quarter.

Indian blue-chip indices Sensex and Nifty opened lower after a strong US jobs report. This raised concerns about fewer interest rate cuts by the Federal Reserve. Market capitalization of listed companies declined. US Treasury yields surged, and FIIs continued selling. Oil prices hit a more than three-month high, extending their rally on expected reduced Russian supplies.

PCBL reported a 37% YoY decline in net profit for Q3 FY25 at Rs 93 crore, despite a 21% revenue increase to Rs 2,010 crore. EBITDA rose 15% YoY to Rs 328 crore. CB sales volume grew 5%, while shares increased 47.5% over the past year.

HDFC Asset Management Company (AMC) is set to report its Q3 results on January 14, with analysts forecasting a revenue growth of 34.6% to 36.4% YoY and a net profit rise of 16.6% to 23.9% YoY. QAAUM is expected to surge by 42% to 48.8% YoY, driven by strong equity AUM growth.