Stock Market News

Tanushree Jaiswal || Crude oil prices dropped by 1% on Tuesday due to weak U.S. consumer confidence data, which raised concerns about the economic outlook and fuel demand following a sluggish start to the U.S. summer driving season. Brent futures for August fell by $1, or 1.2%, settling at $85.01 a barrel. U.S. crude futures settled at $80.83, down 80 cents or 1%. Last week, both benchmarks gained approximately 3%, marking two consecutive weeks of gains and reaching their highest levels since April. U.S. consumer confidence declined in

Tanushree Jaiswal || Gold prices dropped more than 2% to a one-week low on Monday as worries over a wider Middle East conflict subsided, prompting investors to scale back safe-haven trades in favor of riskier assets, like equities. Yesterday at 9:43 a.m. ET (13:43 GMT), gold was down 2.3% to $2,336.29 per ounce, signaling its most significant intra-day decline in over a year. Meanwhile, U.S. gold futures declined by 2.7% to $2,349.70. Gold faced a downward pressure as the main indices of Wall Street began on a higher note, concurrently

Tanushree Jaiswal || Today, Gold Rate surged to unprecedented levels in both domestic & international markets, with Comex gold soaring to new lifetime high of $2,412 per troy ounce, & spot gold hitting $2,395 per ounce during early trading. Additionally, silver prices reached new peak on Multi Commodity Exchange (MCX), with MCX gold price hitting record ₹72,718 per 10 grams & MCX Silver Rate touching ₹84,238 per kilogram within minutes of market opening. Experts attribute this surge in Gold & Silver Prices to anticipation of

Tanushree Jaiswal || Gol Rate Today hit the market high again. The question now arises whether the gold price will continue to rise or consolidate after reaching this high value. Predicting this is a complex task. In February, global central bank gold reserves continued their upward trajectory, expanding by 19 tonnes. This marks the ninth consecutive month of growth, although the increase was notably lower compared to January, which saw a total addition of 45 tonnes. Despite the month-to-month fluctuation, the year-to-date figures show a sub

Tanushree Jaiswal || In the race for board seats and the future of the international entertainment behemoth, Walt Disney (DIS.N) opened a new tab that seemed to be winning out over activist investors. Before the company's annual meeting on Wednesday, 3rd April 2024, more than half of all shares were voted. T. Rowe, which has about 11.7 million Disney shares, or 0.64%, supported the business. He also declared that he had cast votes to re-elect Michael Froman and Maria Elena Lagomasino, the two Disney directors whom Nelson Peltz's Trian Fund

Tanushree Jaiswal || In early trades on Thursday, the Asian markets were trading sharply lower following losses in the US markets. Among the key triggers for the market on Thursday is the gist of the Fed minutes announced late on July 05, 2023. What the Fed June minutes actually said? Here are five key points made in the minutes of the June Fed meet, published on July 05,2023; which is exactly 21 days after the Fed meeting. Here are the key points. • If you go by the minutes of the US Fed, they see the policy tightening not only a

Tanushree Jaiswal || American chip maker Micron Technology recently announced its plan to invest around $825M in a new chip assembly and test facility in India. This facility will be located in Gujarat and will be Micron's first factory in the country. With support from the Indian government and the state of Gujarat, the total investment in the factory is expected to reach approximately $2.75 billion. The facility will cost $2.75 billion — Micron will invest $825 million, 50 percent will come from the Central government, and 20 percent from

Tanushree Jaiswal || Tata Consultancy Services (TCS) and Nest, the UK's largest workplace pension scheme, have entered into an expanded partnership worth £840 million ($1.1 billion) for an initial tenure of 10 years, with a potential total value of £1.5 billion if extended for the full 18-year term. The collaboration between Tata Consultancy Services (TCS) and Nest is focused on the digital transformation of Nest's scheme administration services, with the ultimate goal of enhancing the experiences of its members. TCS has been working with N

Tanushree Jaiswal || Dindigul Farm Product IPO - Lists at a premium of 90% Dindigul Farm Product (En Nutrica) had a smart listing on 27th June 2024, listing at ₹102.60 per share, a premium of 90% over the issue price of ₹54 per share in the IPO. Here is the pre-open price discovery for the Dindigul Farm Product IPO on the BSE. PRE-OPEN ORDER COLLECTION SUMMARY Indicative Equilibrium Price (In ₹) 102.60 Indicative Equilibrium Quantity (Number of Shares) 7,46,000 Final Price (In ₹) 102.60

Tanushree Jaiswal || Winny Immigration IPO - Lists at a premium of 71.43% Winny Immigration and Education Services had a strong listing on 27th June 2024, listing at ₹240.00 per share, a premium of 71.43% over the issue price of ₹140 per share in the IPO. Here is the pre-open price discovery for the Winny Immigration IPO on the NSE. PRE-OPEN ORDER COLLECTION SUMMARY Indicative Equilibrium Price (In ₹) 240.00 Indicative Equilibrium Quantity (Number of Shares) 2,10,000 Final Price (In ₹) 24

Tanushree Jaiswal || Diensten Tech IPO - Day-2 Subscription at 3.73 times As of 5.03 pm on 27th June 2024, out of the 14.70 lakh shares on offer in the IPO (excluding the market maker portion and the anchor allocation done), Diensten Tech saw bids for 54.792 lakh shares. This implies an overall subscription of 3.73X at a macro level at the close of Day-2 of the IPO. The granular break-up of subscriptions as of the close of Day-2 of the Diensten Tech IPO was as under: QIBs (0.00X) HNI / NII (6.43X) Retail (4.70X)

Tanushree Jaiswal || Vraj Iron and Steel IPO Subscription Status on Day-2 at 16.91 times As of 5.05 pm on 27th June 2024, out of the 61.385 lakh shares on offer in the IPO (excluding anchor portion), Vraj Iron and Steel saw bids for 1,038.28 lakh hares. This implies an overall subscription of 16.91X at a macro level. The granular break-up of subscriptions as of the close of the second day of the Vraj Iron and Steel IPO was as follows: Employees (N.A.) QIBs (0.91X) HNI / NII (32.52X) Retail (19.37X)

Tanushree Jaiswal || President of India Droupadi Murmu stated on Thursday, June 27, that the reforms implemented by the government over the past decade have strengthened PSU banks, making them robust, profitable, and capable of driving the nation's economic growth. In her address to the joint Parliament session, President Murmu emphasized that numerous reforms carried out in the last ten years are now benefiting the nation. She highlighted that the State Bank of India (SBI), the country's largest bank, is currently achieving record-level pro

Tanushree Jaiswal || On June 27, shares of Texmaco Rail & Engineering surged by over 11%, reaching a new record high of ₹245.65 on the National Stock Exchange (NSE). This sharp rally is driven by investor expectations that the company will benefit from the expanding Indian economy and the rising investments in the railway sector leading to substantial trading volume in recent weeks, contributing to its rise to new highs. Texmaco Rail & Engineering Ltd., based in Kolkata, is a private engineering and infrastructure company. The compan

Tanushree Jaiswal || On June 27, Whirlpool India's shares soared by over 19% following reports that the German engineering conglomerate Robert Bosch is contemplating a bid for the American appliances manufacturer. After this development, Whirlpool of India share price surged by 19.22%, reaching a 52-week high of Rs 2,190.05 on the BSE. As of March 31, Whirlpool Mauritius owned a 51% stake in Whirlpool of India. The household appliances company's stock was trading at its highest point since November 2021. Throughout June, the stock has sur

Tanushree Jaiswal || KEC International's share price increased by 5% in the opening trade on June 27, following the announcement that the company had secured new orders worth ₹1,025 crore in its T&D and Cables businesses. At 09:32 AM IST, KEC International’s share price was trading at ₹912.25, up ₹49.30, or 5.71%, on the BSE. Tha market capitalisation of KEC International is ₹23,429.75 crore, according to Bombay Stock Exchange (BSE). The Transmission & Distribution (T&D) business of KEC International has recently secured sev

Tanushree Jaiswal || Quant Mutual Fund is currently under scrutiny by the Securities and Exchange Board of India (SEBI) for suspected front-running practices. With a substantial ₹93,000 crore of investor assets under management (AUM), the pressing question for investors is whether their investments are at risk. Quant Mutual Fund has experienced a remarkable surge over the past year, with its AUM skyrocketing by 251%, from ₹23,956 crore in May 2023 to a substantial ₹84,030 crore in May 2024. Front-running is an illegal practice where an

Tanushree Jaiswal || Mutual funds have been aggressively buying shares of HDFC Bank Ltd, the largest lender in India by market valuation. In May alone mutual funds purchased shares worth ₹7,600 crore, marking the fifth consecutive month of buying. Here’s a breakdown of the monthly purchases: Month Mutual Fund Purchases (₹ Crore) January 12,884 February 8,432 March 4,600 April 1,890 May 7,600 In May, mutual funds purchased 4.99

Tanushree Jaiswal || For the week commencing on 22nd April 2023, there are 8 NFO or new fund offerings of mutual funds available for investors. These funds range from a wide spectrum of equity, debt, and multi-asset funds. Here is a quick look at the eight funds available for subscription this week. Baroda BNP Paribas Value Fund This fund comes from the house of Baroda BNP Paribas Mutual Fund. This NFO is a pure equity open ended fund with the objective of generating long-term capital appreciation from a diversified portfolio o

Tanushree Jaiswal || HDFC Mutual fund will launch its new fund offering (NFO) of the proposed HDFC Defence Fund on 19th May 2023. Subscription to the NFO will close on 02nd June 2023 and once the allotment is completed, the fund will be available for NAV related sale and repurchase at NAV related prices. Highlights of the HDFC Defence Fund Here are some of the stand out features of the proposed NFO of HDFC Defence Fund. • The fund will invest in defence and aerospace stocks as well as in allied sectors. It will benchmark to the N

Tanushree Jaiswal || Shares of Vodafone Idea increased by approximately 4% following a report that the telecom service provider had fulfilled its 5G rollout obligations in all circles. The company holds 5G spectrum in 17 circles and has completed the rollout requirements in both spectrum bands. Vodafone Idea completed network testing in both spectrum bands, as conducted by the Department of Telecommunications. The company fulfilled its rollout obligations with a penalty of approximately ₹1 crore, according to a report by CNBC Awaaz citing so

Tanushree Jaiswal || On June 21, Axis Bank stock experienced a significant trade, with 0.55% equity stake in the private lender being sold for ₹2,088.2 crore, as reported by CNBC-TV18. A total of 1.7 crore shares were traded at ₹1,226 per share. The identities of the buyers and sellers were not immediately disclosed. Axis Bank stock was down about half a percent, mirroring the decline in the banking index, and was trading at ₹1,232.5 in the afternoon session. Over the past year, Axis Bank's share price has increased by more than 27%, slightl

Tanushree Jaiswal || Analysts at Bernstein brokerage have issued a 'Buy' recommendation for Zomato stock, setting a target price of ₹230 per share. They highlight the company's market leadership, pricing power, and reduced delivery costs as key factors contributing to expanding margins and improved returns. Bernstein's target price for Zomato implies an approximate 17% upside from its last closing price of ₹196.69. Over the past year, Zomato stock has delivered stellar returns, nearly tripling in value. The stock has also surged nearly 6%

Tanushree Jaiswal || On June 21, shares of JM Financial fell by up to 2%, following a directive from the Securities and Exchange Board of India (SEBI). SEBI instructed JM Financial to stop accepting new mandates as a lead manager in public issues of debt securities until March 31, 2025, or until further notice. The market regulator's order clarifies that the restrictions are limited to JM Financial's role as a lead manager for public issues of debt securities. The company's involvement as a lead manager for public issues of equity instrument

Tanushree Jaiswal || The Indian rupee is expected to reach a record low at the opening on Wednesday, ahead of significant U.S. inflation data and new interest rate projections from Federal Reserve officials. Non-deliverable forwards suggest the rupee will start trading at 83.58-83.60 to the U.S. dollar, down from 83.5650 in the previous session and surpassing the all-time low of 83.5750 set in April. On Tuesday, the rupee fell below the long-standing support level of 83.50-83.55. The rupee has faced challenging days recently. Weighed down by

Tanushree Jaiswal || The Foreign Exchange Derivatives market in India is undergoing a substantial disruption on April 5, due to the implementation of newly announced regulations by the Reserve Bank of India (RBI). It is anticipated that the implementation of these regulations, which mandate an underlying foreign-exchange exposure for currency derivatives trading on stock exchanges, will significantly affect the market, specifically affecting retail traders and speculators, who make up a substantial proportion of the participants. To comply w

Tanushree Jaiswal || In a rather low-profile move, the RBI has decided to officially withdraw the ₹2,000 notes from the currency circulation. This will be effective from 30th September 2023. Between March 23, 2023 and September 30, 2023, the RBI will offer a special window for the people holding these ₹2,000 currency notes to either exchange their notes or deposit these notes into the bank account. Banks will offer this window only up to September end and after that the ₹2,000 note cannot be either exchanged or even deposited in any of the comm

5paisa Research Team || The Indian rupee is going through its worst crisis yet. On Tuesday, it sunk to its lowest yet, going below the psychologically crucial mark of 80 to the US dollar. The rupee went as low as 80.05 to the dollar, before it was helped back up by some intervention from the country’s central bank. The Reserve Bank of India pumped some US dollars into the currency markets to steady the currency slightly after it went down for the seventh consecutive trading session. Is the Indian rupee the only one that has been falling

Tanushree Jaiswal || Shares of solar related stocks surged by up to 5% today following the announcement by Union Finance Minister Nirmala Sitharaman. During the presentation of the interim budget for the fiscal year 2024-2025, she unveiled the "Pradhanmantri Suryodaya Yojana," proposing assistance for installing rooftop solar systems in 1 crore households. Under the initiative, rooftop solarization aims to provide up to 300 units of free electricity every month to one crore households. Finance Minister Sitharaman emphasized that this move al

Tanushree Jaiswal || In her recent interim Budget presentation, Union Finance Minister Nirmala Sitharaman announced that there would be no alterations to direct and indirect tax rates, including import duties for the fiscal year 2024-25. Sitharaman highlighted the government's commitment to maintaining stability in taxation and shared positive news on reduced refund processing times. The Finance Minister highlights a reduction in the average refund processing time, from 93 days in 2013-2014 to just 10 days in the latest fiscal year. Durin

Tanushree Jaiswal || To boost India's agriculture sector, Finance Minister Nirmala Sitharaman announced the expansion of Nano DAP (Liquid) application across all agro-climatic zones. This has sparked a positive response in the stock market, with notable gains in fertiliser stocks. Nano DAP Composition and Benefits Following the announcement, key players in the fertiliser industry witnessed a surge in their stock prices. Coromandel International shares rose by 1.5%, while Gujarat Narmada Valley Fertilisers & Chemicals (GNFC) recovered

Tanushree Jaiswal || For budget 2024 experts project a record breaking budgetary allocation for Indian Railways, set to surpass ₹3 lakh crore in 2024-25, marking a 25% increase from the previous year. As we look forward to the upcoming Interim Budget, Finance Minister Nirmala Sitharaman is expected to reinforce the momentum of the railway sector's growth. Recap of 2023-24 Past year witnessed milestones for Indian Railways, from the inauguration of multiple Vande Bharat trains and the introduction of the no-frills Amrit Bharat Express to t