Latest Stock Market News

Indian technology companies are poised for growth with the new US administration, despite potential visa challenges. Improved earnings are expected from Q3 onwards. Construction and infrastructure sectors are also predicted to rise, while FMCG anticipates a comeback driven by urban demand. Caution is advised for metal investments in the short to medium term.

Swiggy is expected to finalize its IPO share allotment today, with its debut on the BSE and NSE scheduled for November 13. The IPO received a respectable three-fold oversubscription, and shares are currently trading at a slight premium in the unlisted market. The company plans to utilize the proceeds for investments in technology, brand building, and its subsidiary, Scootsy.

Indian stock market expert predicts shifts in investments. Sharma sees potential in banking, technology, and pharma sectors. He suggests investors watch for movement in stocks like HDFC Bank, Axis Bank, Infosys, and Mphasis. Sharma also advises keeping an eye on pharma companies like Laurus Lab and ITC as ITC Hotels prepares to list separately.

Ola Electric reported a smaller loss for the September quarter compared to the same period last year. Revenue grew by 39% year-on-year, driven by strong sales of electric scooters. The company delivered more than 98,000 electric scooters during the quarter. Ola Electric is expanding its distribution network and aims to have 2,000 stores by March 2025.

The US dollar strengthened as investors awaited US inflation data and speeches from Federal Reserve officials. Meanwhile, the Chinese yuan weakened due to disappointing stimulus measures from Beijing. The Australian and New Zealand dollars also declined because of their exposure to the Chinese economy.

Oil prices dropped due to easing supply concerns and a disappointing stimulus plan from China. Investors had hoped for increased fuel demand from China. The stimulus package fell short of expectations, impacting oil consumption. U.S. storm concerns eased, further contributing to the price drop. Despite this, U.S. refiners continue to operate at high capacity.

Apart from the above, Jai Balaji Industries, Ion Exchange, Emami Realty, Elcid Investments, Ador Welding, Alchemist Corp, BCL Enterprises, Chatha Foods, DCX Systems, Kross Ltd, Likitha Infrastructure and a few others will announce their quarterly results.

A 3:1 bonus share issue means that for every 1 share a shareholder already owns, they will receive 3 additional shares as a bonus