Latest Stock Market News

IndusInd Bank shares: IIHL, the investment arm of the Hinduja Group, recently obtained in-principle approval from the Reserve Bank of India (RBI) to raise its stake in IndusInd Bank from 16% to 26%.

Adani Green Energy shares: Five fundamental rights petitions filed against wind energy projects in northeastern Sri Lanka were withdrawn. The petitions were retracted after the Attorney General filed a motion in response to Adani Green Energy s decision to cancel its wind energy projects and notify the Board of Investment.

Ashi Anand, Founder & CEO of IME Capital, discusses the current market dynamics and the cautious approach due to various uncertainties including weak growth and US policies. He highlights potential opportunities in banking, capital markets, insurance, and tech sectors, suggesting patience and careful timing for investments amidst a volatile market environment.

Assuming that market returns in the long run track earnings growth, Indian markets offer an attractive risk-reward if return expectations are 9-12%.

As reported earlier by ET, Vodafone Idea is in talks with major global satellite communication providers, including Elon Musk’s Starlink and Amazon Kuiper, to explore potential collaborations.

The Indian market is expected to consolidate on Wednesday amid muted global cues. Nifty futures closed 1.41% higher at 22,902, while India VIX dropped 1.5% to 13.21. Options data indicates resistance at 23,000 and 23,500, with support at 22,500 and 23,000. Call writing was seen at 23,200 and 23,500, while Put writing occurred at 22,800 and 22,700.

The Directorate General of Trade Remedies (DGTR) recommended a 12% safeguard duty on the import of certain steel products. This development may also impact shares of other steel companies like Tata Steel, Jindal Steel and Power, NMDC Steel, and Jindal Stainless.

LIC is in the final stages of acquiring a stake in a health insurer, with an announcement expected before March 31, CEO Siddhartha Mohanty confirmed. The insurer won’t seek a controlling stake. Meanwhile, LIC reported a 9% decline in Q3 net premium income to Rs 1.06 lakh crore, despite a 17% rise in net profit to Rs 11,056 crore.

Anand Rathi advises buying Venus Pipes & Tubes with a target price of Rs 1,700 within a year. The company s current market price is Rs 1299.9. Positive outlook is based on capacity expansion, backward integration, and global presence. Risks include slow domestic demand and delayed capex. Promoters hold 48.12% stake as of December 2024.