Latest Stock Market News

5 stocks from the Nifty50 index hit a new 52-week high.

52-week high provides an important benchmark for traders and investors. This milestone helps evaluate the current valuation of a stock.

Cement makers have not been able to raise prices in any of the months since November 2023. It has prompted them to focus on volume growth, which is likely to increase the competitive intensity.

NBFC firm L&T Finance on Tuesday reported a 29 per cent rise in consolidated net profit to Rs 686 crore for the first quarter ended June 2024 on the back of healthy interest income. The non-banking financial company had posted a net profit of Rs 531 crore in the same quarter in the previous fiscal.

The near-term uptrend of Nifty continues to hold strong. Although Nifty is consolidating at higher levels, there is no indication of a significant reversal pattern forming at these highs. A further upward movement could push Nifty towards the 24,900 mark next week. Immediate support is positioned at 24,450 levels, according to Nagaraj Shetti of HDFC Securities.

The Dow Jones Industrial Average rose 52.06 points, or 0.13%, at the open to 40,263.78.

Eligible mutual funds must have a minimum operational history of 3 years and an average AUM of at least Rs 10,000 crore over the same period. Additionally, neither the sponsor nor the AMC can have faced any regulatory action under sections 11, 11B, or 24 of the SEBI Act, 1992 within the past 3 years.

For banks, infrastructure bonds come with an advantage – funds raised through these securities are exempt from the regulatory requirement of maintaining Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).

The owners are exploring selling equal stakes that may total 13% in Mumbai-listed Adani Wilmar, said the people, asking not to be identified as the information is confidential. A sale that size would be valued at roughly $670 million as of Tuesday, and could take place as early as the coming months, the people said.

Gold prices increased by 0.8% to $2,440.29 per ounce after Federal Reserve Chair Powell backed a September rate cut.