Latest Stock Market News

Zomato experienced a 57% decline in its December quarter net profit, reporting Rs 59 crore. Despite a 64% rise in revenue, there was a notable slowdown in food delivery. Analysts are mixed on the stock, with target prices ranging from Rs 130 to Rs 375.

Motilal Oswal Financial Services recommends buying Reliance Industries with a target price of Rs 1,600. The company, with a current market price of Rs 1,306.6, is expected to see significant growth in its RJio and retail segments. The report highlights a future EBITDA and PAT CAGR of around 10% over FY24-27, driven by key business segments.

Vodafone Idea share price: Vodafone had requested a refund of prepaid taxes with interest, totaling around Rs 1,600 crore, for the assessment year 2016-17. This amount included tax deducted at source and advance tax.

The dollar rebounded in Asian trade after U.S. President Donald Trump suggested imposing tariffs on Canada and Mexico. Trump mentioned a possible 25% tariff announcement on February 1. This caused a knee-jerk reaction in the market, affecting trade-exposed currencies like the Canadian dollar and Mexican peso. The dollar also gained in value against other major currencies.

Shares of China’s struggling Country Garden surged by 11% after a nine-month trading halt to prepare delayed financial statements. The developer aims to finalize offshore debt restructuring terms with creditors by next month. The stock had been suspended since April following a significant default, further impacting the crucial property sector.

Benchmark indices saw significant gains on Monday, boosted by banking, financial, and power stocks. Tata Technologies remains in a downtrend, Paytm shows signs of weakening, and Dixon Technologies continues to maintain a robust primary uptrend. Analysts offer cautious investment recommendations for the upcoming trading sessions.

Stallion India Fluorochemicals IPO saw a robust subscription rate of nearly 188 times, driven by strong demand from both institutional and non-institutional investors. The company plans to utilize funds for working capital and capital expenditure. The market for fluorochemicals is projected to grow significantly in the coming years.

Tata Technologies is anticipated to report subdued third quarter results with marginal revenue growth of around 0.3%, but an 8% decline in net profit to Rs 157 crore. The company’s revenue from the services segment faces headwinds from auto sector weakness and reduced client spending despite a healthy order book.

RBI has revised the guidelines for asset reconstruction companies (ARCs), allowing them to settle dues with borrowers after evaluating recovery possibilities. ARCs are now required to frame a board-approved settlement policy. For accounts with over Rs 1 crore, proposals must still be reviewed by an Independent Advisory Committee (IAC). These changes aim to speed up the resolution process.