Latest Stock Market News

Manappuram Finance shares are expected to rise as Bain Capital acquires joint control with an 18% stake for Rs 4,385 crore. The investment aims to drive growth, enhance operations, and strengthen leadership. Promoters will remain fully invested, and the deal includes a mandatory open offer for an additional 26% stake.

Motilal Oswal has maintained a "Buy" rating on Voltas with a target price of Rs 1,710, implying a potential upside of 14% from the current market price of Rs 1,494.

IT stocks TCS, HCL Tech, and Infosys will be in focus after Accenture raised its annual revenue forecast, signaling strong demand for AI integration services. Despite the positive outlook, Infosys and Wipro s ADRs closed lower in Wall Street trading.

Rapid Fleet Management s SME IPO will be open from March 21 to 25, aiming to raise Rs 44 crore through 22.84 lakh fresh shares priced at Rs 192 each. Allotment will be finalized on March 26, with listing on March 28. The proceeds will be used for vehicle purchases, working capital, and general corporate purposes.

Rikin Shah of IIFL Capital advises investors to shift from an underweight to neutral stance on financials, expecting mid-teen earnings growth in FY27. He highlights the differing performance across banks, the influence of rate cuts, and the ongoing stress in small ticket loans and MFIs, with the broader financial landscape showing gradual improvement.

Bain Capital will acquire an 18.6% stake in Manappuram Finance, a leading Indian gold loan company, through a primary infusion and secondary sale. The investment includes a mandatory open offer, potentially increasing Bain s stake to 41.7%. The deal, subject to regulatory approvals, aims to propel the company s growth.

The bond issue is likely to be closed before the end of March," said the first person. Bank of Maharashtra didn t reply to email seeking comments. Bonds are expected to be priced at 10.15% rate. Maharashtra Gramin Bank had last issued tier-I perpetual bonds in December 2021.

The Reserve Bank of India clarified that banks must disclose repo and reverse repo transactions in both market value and face value terms. This is in response to banks’ queries on financial statement disclosures. The RBI s guidance applies to all commercial and cooperative banks from the financial year ending March 31, 2025, onwards.

Bajaj Finance has appointed Anup Kumar Saha as its new managing director, succeeding Rajeev Jain, effective April 1. Jain will transition to the role of vice chairman for three years. Saha, who joined Bajaj Finance in 2017, brings extensive experience from his 25 years in the financial services industry.