Stock Market LIVE: BSE mid, smallcap hold gains in weak trade; Cap goods up | News on Markets

Equity markets, the mid- and small-cap stocks, in particular have witnessed a correction in month of March, while the frontline stocks outperformed. The NSE MidCap 100 index so far this month has declined 2.1 per cent, and the Nifty SmallCap 100 has shed 5.8 per cent. In comparison, the Nifty 50 has gained 0.3 per cent. Read

Subko, a Mumbai-based brand known for its specialty coffee, craft-baked goods, and bean-to-bar chocolate, has secured a significant investment of $10 million. Leading the round is renowned investor and co-founder of Zerodha, Nikhil Kamath, valuing the company at approximately $34 million post-money. Read

State-run natural gas company GAIL (India) Ltd plans to commission its first green hydrogen project in central India in April, three company sources said.

Shares of Sanghvi Movers, a major player in the crane rental industry moved up 9 per cent at Rs 1,256 a piece in Tuesday’s intra day deals on BSE. In comparison, the BSE Sensex was down 0.33 per cent at 72,564 levels. Read

S&P Global on Tuesday raised India’s gross domestic product (GDP) growth forecast for Financial Year 2024-25 (FY25) by 40 basis points to 6.8 per cent or lower than the central bank and government’s projection of 7 per cent.

Shares of smallcap firm Savita Oil Technologies soared 10 per cent to Rs 454 in Tuesday’s intra-day trade as data revealed SBI Mutual Fund (MF) bought nearly 3 per cent stake in the specialty petroleum company via a block deal on Friday, March 22. 

Lately, there’s been a slowdown. The quantum of new money coming into India from other countries (foreign investors) has dropped significantly. This is the slowest it’s been since May 2023 as investors in Europe (Luxembourg) are pulling out a lot of money (outflows) while investors in the US and Japan are also investing less in India compared to usual. Read more

Shares of Mankind Pharma slipped 4 per cent to Rs 2,117 on the National Stock Exchange (NSE) in Tuesday’s intra-day trade after over 3 per cent of its equity changed hands via block deals.

Shares of Railway Vikas Nigam Limited, the construction arm of Indian Railways zoomed 6 per cent at Rs 265 a piece in Tuesday’s intraday trade against a 0.36 per cent dip in BSE Sensex. 

In a relief for life insurance company investors, regulator Irdai has retained most existing surrender charges in the revised product regulations. However, policyholders who cancel their policies will not get as much as what was proposed under the draft exposure norms, which were aimed at curbing mis-selling in December 2023, reports suggedted. READ MORE

“The combination of headline inflation remaining above 5 per cent and the strong Q4 GDP figures will likely leave Monetary Policy Committee (MPC) members cautious about cutting rates too soon,” said Alexandra Hermann, a lead economist at Oxford Economics. READ MORE

“Cooling products like coolers, ACs, and fans, thus, may see peak sales from March through May. As a result, the fourth quarter (Q4)/Q1 may see strong quarters for consumer durables companies. Early signs indicate that this year’s summer season could be exceptionally strong due to the early arrival of hot weather. Thus, we anticipate strong performance across the cooling product range,” said Anil R, a research analyst at Geojit Financial Services. READ MORE

Alok Industries, Chambal Fertilisers, Shoppers Stop and SRF are among the select Nifty 500 stocks that seemed to have turned favourable, and hold promise of a potential trend reversal, based on the recent price action.

The initial public offering (IPO) of small and medium enterprise (SME) Trust Fintech will open for public subscription on Tuesday, March 26 and close on Thursday, March 28. The price band for the offer is Rs 95-101 and the company is aiming to raise Rs 63.45 crore via a fresh issue of nearly 6.3 million shares. Read more

Shares of Indus Tower hit an over two year high of Rs 284.40 as they rallied 5 per cent on the BSE in Tuesday’s intraday trade amid heavy volumes, in an otherwise subdued market. In the past two trading days, the stock of the telecom Infrastructure company has surged 14 per cent. Read more

A sharp run-up by up to 27 per cent in Tata Group stocks has helped Rekha Jhunjhunwala to outperform not only the market, but also portfolio returns of the other marquee investors such as Mukul Mahavir Agarwal, Ashish Dhawan, Ashish Kacholia, Vijay Kedia and Anil Kumar Goel & Seema Goel.