Latest Stock Market News

The Nifty 50 continues to reach new highs in each trading session. Alongside the index surge, specific stocks are also demonstrating promising growth potential for investors.

As of 31-Mar-2024, promoters held 37.88 per cent stake in the company, while FIIs held 30.91 per cent and domestic institutional investors had 11.69 per cent.

As mutual funds are sitting with Rs 1 lakh crore of cash, whenever there is a 4-5% drop from the peak, there is a spate of buying. So equities as an asset class are not seeing sharp drawdowns and in the short term make it safer to invest in and attract more funds. That is the cycle we are in, says Neelkanth Mishra.

Whisky has been the dominant this for the industry, around 65% of the IMFL business is whisky. So, we will continue our leadership there. At the same time, we are looking at other opportunities like Gin, Rum and other things which should contribute a significant amount on a future date.

But overall, as a sector, it is not the best one to invest compared to what we are seeing some great momentum into IT stocks right now, maybe in auto stocks. So, I would avoid that on that ground. But otherwise, it is at support levels.

​Bitcoin (BTC) was trading weak and was down 0.70% on Tuesday after recovering over the last few sessions. It was trading at $62,865 around noon. Other major altcoins that were trading in the red included Ethereum (ETH), Tether, BNB, Dogecoin (2.39%), Avalanche, and Shiba Inu were down by up to 4.5%.

​The Securities and Exchange Board of India’s (SEBI) recent regulations for small and medium real estate investment trusts (SM REITs) are likely to drive investor interest towards fractional ownership of real estate assets, said CRISIL Ratings.

The IT sector anticipates growth is being driven by AI and enterprise technology spending amid concerns over interest rates and consulting demand. Companies like Tata Technologies are facing valuation challenges in the engineering services segment, contrasting with positive growth prospects for IT services, says Ravi Menon, IT Services Analyst, Macquarie.

Axis Securities expects reduced volatility and a smooth US market landing, targeting Nifty at 27,000 for March 2025 (bull case) and 24,600 (base case). They recommend stocks like HDFC Bank, ICICI Bank, Coal India, Nestle India, SBI, HCL Tech, Federal Bank, Varun Beverages, TVS Motors, Bharti Airtel, among others.