Latest Stock Market News

Hindalco Industries plans to invest Rs 45,000 crore in aluminium, copper, and specialty alumina businesses over the next three to four years. The company aims to focus on upstream operations and targets increasing downstream profits. Green initiatives, EV mobility, and advanced technologies are pivotal to their growth strategy.

Ola Electric shares: In a statement released on Friday, the company confirmed that its sales remain strong and that it is working to clear the backlog that had led to discrepancies in vehicle registration data. Ola explained that this backlog, which was not the result of any internal operational issues, is being addressed, with daily registration numbers now exceeding 50% of the company’s three-month daily sales average.

V Srivatsa of UTI AMC suggests that the market has captured most negatives from the recent fall and is in a consolidation phase. He identifies opportunities in large-cap stocks, PSU power pack, oil and gas, telecom, and metals. He remains cautious on consumer durables, FMCG, and capital goods due to high valuations and growth challenges.

Defence stocks: For the Indian Army, the DAC approved the procurement of 1,350 HP engines to upgrade the existing 1,000 HP engines in T-90 tanks. This enhancement is expected to improve battlefield mobility, particularly in high-altitude areas, by increasing the tanks’ power-to-weight ratio.

Nifty50 is on track to end its five-month losing streak with strong gains in March, supported by global monetary policy shifts and domestic economic resilience. Improved liquidity and a moderation in foreign investor selling have driven a sharp market rebound.

Jio Financial Services remains in focus after reports of a preliminary agreement with Allianz SE to establish an insurance venture in India. This follows Allianz’s recent stake sale in joint ventures with Bajaj Finserv. Technically, Jio Financial’s stock shows mixed signals with an RSI of 53.1 and a bearish MACD at -6.9. It has dropped 24% YTD.

Japan s Topix index hit an eight-month high, driven by financial stocks following stronger-than-expected inflation data, raising expectations for BOJ interest rate hikes. The index rose to 2,817.58, with Mitsubishi UFJ and Mizuho Financial leading gains, supported by the banking sector s performance.

Gurmeet Chadha, CIO of Complete Circle Consultants, mentions Polycab s valuation and market dynamics in the wires and cables industry. Despite new entrants like UltraTech and Adani, Chadha sees long-term growth potential due to rising power demand and infrastructure revival. He also highlights opportunities in defence, shipbuilding, financials, consumer discretionary spending, auto, and energy sectors.

JM Financial recommends buying Suzlon Energy with a target of Rs 71. Suzlon shows promising growth with its 5.9GW order book and expansion plans. The company posted robust financial results, with total income increasing significantly in the latest quarter and a net profit of Rs 387.76 crore. The manufacturing capacity is expected to grow, boosting investor confidence.

RIL shares: Reliance Strategic Business Ventures has entered into a share purchase agreement with Welspun Corp Limited (WCL) to acquire a 74% stake in Nauyaan Shipyard for Rs 382.73 crore.