Latest Stock Market News

A weakness in the next session below 17,348 can drag it towards 17,160. Strength can be expected only at a close above 17,500, which should expand the rally towards 17,800," said Mazhar Mohammad of Chartviewindia.in.The analyst advised traders to avoid long positions in the index unless it closes above 17,500.

"Sebi has granted its in-principle approval for the proposed change in control of HDFC Asset Management Company Limited along with the change in one of the cosponsor(s) of HDFC Mutual Fund from HDFC Ltd to HDFC Bank" the asset management firm said in a regulatory filing to the stock exchanges on Friday.

“With a view to strengthen the role of SPDs as market makers, on a par with banks operating primary dealer business, it is proposed to enable SPDs to offer all foreign exchange market-making facilities as currently permitted to Category-I Authorised Dealers, subject to prudential guidelines,” RBI said in the statement of developmental and regulations.

The Nifty Auto index was trading 0.33 per cent down at 12902.55.

The regulator also said that before initiating due diligence, a DT and the listed entity will have to enter into an amended debenture trust agreement with respect to security creation, initial due diligence and continuous monitoring by the DT concerned.Post carrying out the initial due diligence, the DT would have to issue a no-objection certificate to the issuer company for going ahead with proposed change in the structure or creation of security.

On August 9 (Tuesday), stock markets will remain closed on the account of Muharram, whereas there will be no trading on August 15 (Monday) as India will celebrate its 76th Independence Day.

The Enforcement Directorate on Wednesday froze bank assets worth Rs 64.5 core of a director of Zanmai Labs Private Limited - the entity that owns and runs cryptocurrency exchange platform WazirX - after it conducted a raid on the premises of the director. During its probe, the ED found that WazirX assisted 16 fintech companies accused of laundering fraud money via the purchase and transfer of virtual crypto assets, and involved with predatory lending practices in violation of the guidelines from the Reserve Bank of India.

“Tata Elxsi is not an IT services company like TCS or Infy. It is a product development company and works closely with some of the global majors in the auto EV space with some of the latest technologies. It has more to do with the future growth opportunity provided via ERD segment -- engineering, research, development – where there is a steady, consistent growth.”

"Some tactical measures of cost controls and streamlining business processes have led to the rationalization of the costs, which has resulted in savings resulting in improved profitability. We continue to focus on the cloud kitchen vertical with our established brands for the delivery business with low capital requirements and better return on investments.

“Today the State Bank of India’s mortgage rates and the personal loan rates are linked to the EBLR already. There the rate hike transmission will be almost instantaneous with a very limited time gap. As far as deposits are concerned, there will be some gap but it will also catch up.”