Latest Stock Market News

Beijing has already reported a welcome pickup in inflation to an annual 0.3% in April, helping to soothe worries about a slide into prolonged deflation. Forecasts favour further gains in April retail sales and industrial output due on Friday.

Shares of Bharti Airtel, Shree Cements, Patanjali Foods, Devyani and PVR Inox will be in focus as the companies will announce their fourth quarter results today.

Largest Housing Finance M&A, the large buyout for the PE fund in India. Current management to stay at the helm. New brand name to be announced shortly.

The central bank is mandated to invest small portion of its foreign exchange reserves- $ 5 billion in the company following demands from the government in the past to fund infrastructure.

Indian banks had a strong fiscal 2024 but face challenges in the current year due to regulatory changes impacting credit growth and net interest margins. Return ratios and riskier lending are also areas of concern as the market adapts.

Muthoot FinCorp aims to diversify from gold loans to 80% in 3 years, becoming a full-stack financial services provider. Plans include expanding branches, hiring, and offering new services to lower-middle income groups.

Foreign portfolio investors (FPIs) have sold shares worth over ₹22,000 crore this month after pulling ₹21,524 crore out of Dalal Street in April. More than 100 stocks where FPIs hold over 5% stake as of March 31, 2024, have declined between 10% and 30% in last one month, compared to a 1.7% fall in benchmark Nifty.

A non-binding offer has been submitted to buy up to 76% of co at $8.5 bn valuation; 87-year old Haldiram with roots in Bikaner, Rajasthan is India’s largest snack and convenience foods company. Delhi and Nagpur factions of the Agarwal family are merging their snacks and packaged foods business, demerging the restaurant operations.

At a buyback auction of government bonds last week, the RBI accepted bids worth only ₹10,512.99 crore versus ₹40,000 crore worth of securities the government had offered to repurchase, with the central bank rejecting most bids.