Latest Stock Market News

Indian main indices rebounded from intraday lows to finish the session unchanged, driven by the upward movement of Reliance Industries and State Bank of India, despite HDFC Bank being the primary detractor of the day.

Private lender IndusInd Bank reported net advances at Rs 3,48,107 crore for the quarter ended June 30, 2024 which was up 16% over Rs 3,01,317 crore reported by the company in the corresponding quarter of the last financial year.

Yes, there were challenges in diagnostic industry of a different nature in early 2000. There were no automations available adequately. Before year 2000 there were only two-three automations in the country and by another 10 years it became 500, another 10 years it has become literally 5,000.

The 30-stock S&P BSE ended with minor declines at 79,996.60, losing 53.07 points or 0.07%. Meanwhile, the broader Nifty closed with 21 points or 0.09% gains at 24,323.85.

The company is in discussions with banks for the issuance, the people said, asking not to be named because the details are private. Funds from the bond sale will be used to refinance debt raised earlier to pay for an acquisition, with the terms yet to be finalized, they said.

HDFC Bank has been allocated approximately 1.58 lakh shares worth Rs 3 crore at Rs 190 each in the anchor round of the Ganesh Green Bharath IPO, which opened for subscription recently. Other notable investors in the anchor round include Copthall Mauritius Investment, India Equity Fund, and Craft Emerging Market Fund.

The Indian rupee closed nearly unchanged on Friday as importer dollar demand weighed on the currency, even though most of its Asian peers gained ahead of the release of closely watched U.S. jobs data later in the day.

The Nifty Pharma index closed 1.29 per cent up at 20453.85.

Pankaj Tibrewal from IKIGAI Asset Manager emphasizes the importance of risk management in the current market scenario due to slowing earnings growth. The firm is eyeing opportunities in sectors like auto ancillaries, pharma, and consumer goods for potential growth. Tibrewal also says that there are still pockets that offer reasonable valuations and probably visibility of earnings growth in FY25 and FY26.

A total of 5,600 shares changed hands on the counter till 02:09PM (IST).