Latest Stock Market News

Bitcoin’s rally fuels hedge fund profits as institutional demand spikes, with futures prices nearing $85,000 and a growing bet on $100,000 by year-end. Leverage and margin trades intensify.

Shree Cement’s shares fell 4% on Tuesday to Rs 23,500.15 after the company reported an 80% YoY drop in Q2 profit, down to Rs 93.13 crore. The decline was driven by weak demand and lower prices for cement. Despite the seasonally slow quarter, sales volume also dropped 7% to 7.60 million tonnes.

As of 30-Sep-2024, promoters held 46.09 per cent stake in the company, while FIIs held 19.02 per cent and domestic institutional investors had 15.27 per cent.

​But overall, fundamental strength as I see it I the metal commodities, the chemical commodities, the banking stocks in particular I see better earnings outlook going forward in the third and the fourth quarter and of course including the manufacturing space, particularly the power and power-related products.

The stock quoted a 52-week high of Rs 196.80 and a 52-week low of Rs 97.59.

A total of 5,542 shares changed hands on the counter till 10:54AM (IST)

The Nifty Bank index was trading 0.35 per cent at 51695.20.