Latest Stock Market News

Maruti Suzuki shares fell 13% amid disappointing Q2 results and bearish sentiment, with analysts warning of potential sales softness for several quarters and cautioning investors to seek reversal signals.

As of 30-Sep-2024, promoters held 0.0 per cent stake in the company, while FIIs held 18.25 per cent and domestic institutional investors had 24.32 per cent.

The stock quoted a 52-week high price of Rs 1946.20 and low of Rs 811.50.

Bajaj Auto shares fell 5% after reporting a 2% YoY sales rise to 479,707 units in October, with domestic two-wheeler sales declining 8%, despite strong export growth.

With the US elections underway, early ballots indicate a tight race between Kamala Harris and Donald Trump. Markets had been betting on a Trump victory, but recent shifts in traditionally Republican states suggest growing support for Harris. Financial markets may react differently depending on the election outcome, influencing the US dollar and sector-specific stocks.

The rupee appreciated by 1 paisa to 84.06 against the US dollar in early trade on Monday, influenced by persistent foreign fund outflows, a muted trend in domestic equities, and rising crude oil prices. This follows a relatively quiet week due to Diwali celebrations and ongoing intervention by the Reserve Bank of India.

Shares of Tata Motors dropped by 2.2% due to muted growth in its monthly auto sales. The company sold 80,839 units, showing little change from last year. Commercial vehicle sales were mixed, with some segments growing and others declining. Passenger vehicle sales, including electric vehicles, remained flat compared to the previous year.

September quarter results reveal weaker-than-expected earnings, with a flat YoY growth for 34 Nifty companies. Key downgrades in earnings estimates affected FY25 and FY26 projections, led by BPCL, Reliance Industries, and Coal India. Mixed performance noted across banks, IT, consumer, and oil marketing companies.

Promoters held 46.68 per cent stake in the company as of 30-Sep-2024, while FII and DII ownership stood at 21.5 per cent and 16.89 per cent, respectively.

On the largecap side, yes. So, as the results have trickled in and based on price movements, on the largecap side, few clear winners seem to be visible. If we see on the auto side, Mahindra & Mahindra, the way they have delivered on festival season numbers as well as the pickup in tractor sales and we have recently seen a correction in the stock price, so that looks reasonable. Bhati Airtel, again, the pickup in arpus has been quite strong and next two-three years should be quite good.