Latest Stock Market News

As the US election results loom, Indian markets brace for potential volatility. Analysis of market performance under past presidents reveals no clear winner for investors. Experts predict a short-term rally if Trump wins, while a Harris victory suggests continued stability but potential vulnerability for IT stocks.

This occurrence is often interpreted as a potential bullish signal by traders and investors. Potentially indicating positive sentiment in the market.

Grasim, currently at Rs 2590.60, signals potential downside with a bearish engulfing candle and weakening momentum. Analysts predict further decline below Rs 2,580, targeting support levels at Rs 2,490 and Rs 2,420. Option data and technical indicators support this bearish outlook, suggesting a Bear Put strategy for potential gains.

Shares of Embassy Office Parks REIT are in focus as CEO Aravind Maiya was suspended by SEBI for violating compliance norms. Maiya will transition to the role of Head of Strategy for the company. This follows an NFRA ruling that debarred him for 10 years over professional misconduct related to his prior role as an auditor for Coffee Day Enterprises, where lapses in audit standards contributed to a major financial scandal.

Indian Railway Finance Corporation (IRFC) reported a 4% YoY rise in Q2 FY24 profit after tax (PAT) to Rs 1,612.65 crore, with revenue from operations up by 2%. The company declared an interim dividend of Rs 0.80 per share. IRFC shares have surged 113% over the past year but have declined 20% in the last three months.

Motilal Oswal Financial Services has given a neutral rating to Procter & Gamble Hygiene & Healthcare, setting a target price of Rs 16,500. The company shows potential for growth in the feminine hygiene segment and higher margin gains. Despite expensive valuations, P&G Hygiene focuses on product innovation and customer acquisition, with no medium-term triggers seen.

Several stocks, including IndusInd Bank, Bajaj Finance, and Nestle India, have seen target price downgrades from analysts, with revised targets indicating upside potential ranging from 7% to 42% from current prices.

HDFC Securities advises reducing holdings in V-Guard Industries with a target price of Rs 420, although it currently trades at Rs 438.7. V-Guard reported a slight decline in total income for Q2, but improvements in certain segments were noted. The Sunflame brand underperformed, and rising costs limited profit margin growth. Promoters and institutional investors hold substantial stakes.

Tata Steel may report a loss for the second quarter of FY25. Analysts predict declining realizations and rising costs will impact both domestic and European operations. While sales volume has increased, lower steel prices are expected to affect revenue. EBITDA may decline due to weaker realizations.