Latest Stock Market News

Promoters held 51.5 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 7.79 per cent and 2.38 per cent, respectively.

But we have done well even despite interest rates not being down. So, I do not think it matters so much. Actually, our markets are used to high interest rates. So, it is very different from the US market which has got used to very low interest rates.

Deven Choksey is optimistic about investing in the metal sector due to stable energy prices and rising consumption. He also sees opportunities in some NBFCs and corporate banks with large assets. He believes the economic environment will benefit both sectors, with potential lower energy and lending costs contributing to growth.

​I do not think re-rating will happen, but at least they can give you the earnings returns. If I look at the overall PE of the mid and smallcap, obviously they look expensive, but there are pockets which look reasonably good.

The stock quoted a 52-week high price of Rs 2843.0 and a 52-week low of Rs 1803.8.

Hyundai Motor plans to sell 142 million shares in its Indian unit through an initial public offering, retaining an 82.5% stake afterward. The sale aims to raise approximately $3 billion, valuing Hyundai Motor India at around $20 billion. This marks the first carmaker IPO in India since 2003.

A total of 4,147 shares changed hands on the counter till 01:07PM (IST)

The dollar remained strong following a robust U.S. jobs report, shifting expectations for Federal Reserve rate cuts. Escalating Middle East tensions increased safe-haven flows, supporting the yen. Focus this week will be on U.S. inflation data and Fed meeting minutes, with cautious rate cut stances from the Fed and other central banks.

The said target prices indicate an upside potential of 27% for the former and 31.5% for the latter, with respect to Monday’s closing price.

Shares of SpiceJet surged by 9.5% after the announcement of adding 10 new planes to bolster its fleet by November. The company is acquiring seven planes on lease and reintroducing three previously grounded aircraft, following a successful funding round that raised Rs 3,000 crore.