Latest Stock Market News

Denta Water IPO: Non-institutional investors (NIIs) displayed the strongest interest, with subscriptions soaring to 54.27 times, followed by retail investors, who subscribed 25.10 times. The portion allocated to qualified institutional buyers (QIBs) saw a subscription of 1.72 times.

On Wednesday, the Reserve Bank of India (RBI) received bids worth Rs 1.72 lakh crore, 38% higher than the notified amount of Rs 1.25 lakh crore, in the daily Variable Rate Repo (VRR) auction. The surge in bids was driven by higher GST outflows and liquidity pressures. The RBI will inject Rs 1.25 lakh crore on Thursday.

The Indian rupee appreciated 26 paisa to 86.32/dollar, driven by a global retreat in the USD index and central bank interventions. The Reserve Bank of India’s dollar-rupee swaps impacted forward premiums, with the one-year forward at its lowest since July 2024. Despite volatility and continued pressure from a strong dollar index, a softening trend is expected.

HDFC Securities recommends an add call on Mastek with a target price of Rs 3840, while the current market price is Rs 2579.15. Mastek reported consolidated total income of Rs 879 crore and net profit of Rs 94.71 crore for the December 2024 quarter. The company expects margin and growth driven by UK geography, maintaining an overall positive outlook.

As of 31-Dec-2024, promoters held 0.0 per cent stake in the company, while FIIs held 8.77 per cent and domestic institutional investors had 3.47 per cent.

The stock traded at a P/E multiple of 34.37, while the price-to-book value ratio stood at 5.13.

Gold February futures opened slightly lower at Rs 79,464, while silver March futures traded at Rs 91,472. Gold has gained Rs 450/10g this week, while silver remained flat. Both metals showed volatility amid global uncertainties, particularly US tariffs. Analysts expect continued volatility, with gold supported at Rs 79,300 and silver at Rs 91,220.

Leading brokerage firms predict substantial returns for prominent stocks like Reliance Industries, PNB Housing Finance, Karur Vysya Bank, KEI Industries, and Paytm. Morgan Stanley, Axis Capital, DAM Capital, UBS, and CITI provide their ratings and target prices, indicating potential upsides ranging from 17% to 42%.