Latest Stock Market News

A paucity of coal in the domestic market is pushing upwards the prices of sponge iron. Meanwhile, there has also been a squeeze on the availability of scrap steel, which is largely imported. This is pushing up the price of the commodity.

The lender, which listed its shares in New York in December, has seen the stock shed half its market value so far this year against the backdrop of turbulent capital markets.

The board of Samvardhana Motherson International and Yug Decor will meet today to consider the bonus issue. Tuesday is the record date for dividends by Hindalco Industries, India Pesticides, Astra Microwave Products and Repco Home Finance. The stocks went ex-dividend on Thursday.

Jhunjhunwala was the biggest investor in the low-cost airline that started operations last Sunday. His family holds around 45% through three trusts named after his children Nishtha, Aryaman and Aryavir.

Market participants awaited industry data on U.S. crude stockpiles due later on Tuesday. Oil and gasoline stockpiles likely fell last week, while distillate inventories rose, a preliminary Reuters poll showed on Monday. [EIA/S]

The ace investor Rakesh Jhunjhunwala passed away on Sunday and 32 stocks from his portfolio, including Aptech, Star Health, Metro Brand, NCC, Nazara Tech and more, are likely to remain at focus of the investors.

Indiabulls Real Estate has cut its net debt by 54% to Rs 464 crore during the three months ended June, compared to the March quarter. Besides, the merger with the Embassy Group is in the final stage of the National Company Law Tribunal (NCLT) review, the company said in its investor presentation.

The Fed since March has delivered a stiff set of interest rate increases in an effort to battle inflation. Some investors have worried that an aggressive pace of rate hikes by the U.S. central bank could push the economy into recession.

As per the latest data released by the Reserve Bank of India, credit growth continued its strong upward run with a 15.1% increase year-on-year, the fastest since April 2019, in the fortnight ended July 29. The bulk of the growth has been driven by retail loans - home loans and personal - while corporate demand is also showing signs of revival.

Inflation measured by the consumer price index (CPI) eased to 6.7% in July, from 7% in June, but was primarily led by volatile components such as vegetables, edible oil, gold, silver, petrol and diesel.