Market News
Stay updated with the latest market trends, earnings, and economic indicators.
Raymond James strategist sees India as a value allocation; likes financials, energy
Matt Orton, Chief Market Strategist, Raymond James Investment explains why he remains constructive on global equities despite US-Iran tensions, shares his outlook on the Magnificent Seven, Federal Reserve policy, and highlights financials, small caps and India as attractive investment opportunities.
Turtlemint Fintech IPO listing date on 29 June: Here’s what GMP hints ahead of debut
Turtlemint Fintech IPO listing is scheduled on 29 June, after a subscription period from 19 to 23 June. The IPO received strong demand, particularly from retail investors. The share price is fixed between ₹144-152, with a total offering value of up to ₹660.72 crore.
HDFC Mutual Fund buys additional 10 lakh shares of Global Health for Rs 130 crore
HDFC Mutual Fund has secured an additional 10 lakh shares of Global Health, which is known for operating Medanta hospitals, from co-founder Sunil Sachdeva for Rs 130 crore. This acquisition builds on a prior purchase made last month. The transaction accounts for a 0.37% stake in the company. In related news, Global Health has reported an impressive 39.7% increase in its fourth-quarter profit after tax, totaling Rs 141.7 crore.
Sebi seeks clarification from Jio Platforms on IPO filing
India's capital markets regulator Sebi has requested clarifications from Jio Platforms regarding its draft IPO papers. This move signals a crucial step towards what is anticipated to be the nation's largest public offering, aiming to raise approximately Rs 35,000 crore. The company plans to utilize these funds primarily for debt repayment and future expansion, marking a significant value-creation milestone for Reliance Industries.
ADB approves USD 42.2 mln loan to boost bamboo industry in northeast region
The Asian Development Bank has approved a $42.2 million facility to boost India's northeastern bamboo industry. This initiative aims to enhance agricultural productivity and rural livelihoods by supporting community-based projects and establishing women-led manufacturing units. Despite holding a significant portion of global bamboo, India's value chain is underdeveloped.
Gold slips marginally in futures trade; silver rebounds on value buying
Gold futures on MCX edge lower on weak global cues and strong US dollar, while silver recovers on bargain buying, analysts see correction but say long term outlook for bullion stays positive
Jonnagiri gold mine to boost domestic production, advance 'Made in India' ecosystem, says Lloyds chief
India's gold import dependence is set to decrease with the inauguration of the Rs 405-crore Jonnagiri gold mine in Andhra Pradesh. This marks the nation's first commercial-scale private gold mining operation since Independence, aiming to produce up to 1,000 kg of refined gold annually. The project, a joint venture, is expected to boost the 'Made in India' refined gold value chain and foster regional economic growth.
Alpha Wave sells entire 1.9% stake in Delhivery; stock falls over 2%
Global investment firm Alpha Wave Global has divested its entire 1.93% stake in logistics giant Delhivery for Rs 665 crore. This significant exit saw the firm offload over 1.44 crore shares. In related news, venture capital firm Nexus Venture Partners also sold a substantial stake in Delhivery, while Mirae Asset Venture Investments reduced its holding in logistics firm Shadowfax Technologies.
Why is market rising today? Sensex soars 800 pts, Nifty above 24,250. 3 key factors powering D-St bulls
Indian stock markets experienced a significant surge on Thursday, with both the Sensex and Nifty climbing over 1%. This bullish trend was fueled by declining crude oil prices and positive global market signals. The Sensex saw a jump of nearly 800 points, while the Nifty 50 rose by over 200 points, injecting substantial value into the overall market capitalization.
Capex boom, global sourcing tailwinds fuel textile stock rally
Textile exporter stocks witnessed a significant rally on Wednesday, boosted by positive initiation of coverage from Motilal Oswal Financial Services. The brokerage highlighted capacity expansion and supportive policies as key growth catalysts, projecting substantial gains for leading companies. This surge reflects a new investment cycle in the Indian textile sector, with companies focusing on higher-margin segments and value-added products to capitalize on global sourcing trends.
Natural diamonds are shining again as De Beers-led supply cuts lift prices
Natural diamond prices are experiencing a significant rebound, climbing 5-8% year-on-year, driven by reduced supply from major miners and renewed investor interest. Solitaires are increasingly seen as an asset class, with younger generations like Gen Z and millennials leading the demand, viewing them for both aspirational value and investment potential due to their inherent rarity. India plays a crucial role, now accounting for 12% of global diamond demand value.
Trent rallies after mgmt flags potential growth outlook in 47th AGM
Trent jumped 4.18% to Rs 3273 after the company's management outlined its long-term growth strategy for its fashion and value-retail businesses at the 47th annual general meeting (AGM).