Latest Stock Market News

Goldman Sachs maintains buy on ITC with a target of Rs 480, downgrades Gujarat Pipavav to neutral, raising target to Rs 220. BofA Securities retains buy on InterGlobe Aviation, target Rs 4900. Investec initiates buy on BSE, target Rs 3400, citing market share gains and attractive valuations.

Rulka Electricals listed on the NSE SME platform with a 123.4% premium. The IPO of 11.23 lakh shares received a subscription of 600 times.

Feroze Azeez, Deputy CEO of Anand Rathi Wealth Limited, provides insights on market triggers, FII positioning, earnings growth, valuations, investor sentiment, and recommended sectors for investment, including financial services, rail and highways, and renewable energy. Azeez also points out that earnings have doubled in the five-year fiscal, which is a great five-year earning cycle.

HOAC Foods shares listed on NSE SME platform at 206% premium over IPO price. The company handpicks raw materials for organic spices and works with Kfin Technologies. FMCG sector is growing, and GYR Capital managed the issue. The company reported revenues of Rs 11.48 crore and net profit of Rs 74 lakh.

A total of 398,206 shares changed hands on the counter till 10:35AM (IST)

The Nifty IT index was trading 0.2 per cent down at 33973.25.

The Relative Strength Index of the stock stood at 57.94 on Friday.

GSM Foils IPO opens today to raise Rs 11 crore, listing on NSE SME platform. Shreni Shares manages the public offer for manufacturing Blister Foils and Aluminium Pharma Foils, with positive analyst projections.