Latest Stock Market News

Praj Industries shares: Through this strategic partnership, Praj will contribute to the development, evaluation, and step-by-step implementation of the biorefinery, which is designed to produce ethanol along with co-products including distillers dried grains with solubles (DDGS), corn oil, biogas, bio-bitumen, and sustainable aviation fuel (SAF).

The NCLT directed three aircraft lessors of SpiceJet to furnish a valid Power of Attorney by July 3. The directive follows insolvency pleas over Rs 77 crore in alleged defaults. The airline contested the outdated authorisation, prompting the tribunal to grant time for revised submissions.

Despite the Union Budget s focus on consumption, capital goods stocks have significantly outperformed, with the BSE Capital Goods Index soaring 10%. This rally, fueled by strong order pipelines and high manufacturing capacity utilization, has added Rs 1.85 lakh crore in market value. Experts suggest this capex revival is a multi-year phenomenon, driven by government initiatives and healthy corporate balance sheets.

Indian benchmark indices Sensex and Nifty traded lower on Thursday ahead of the RBI MPC meet outcome. Banking, finance, and auto sectors contributed to the decline. This happened before the Reserve Bank of India s policy announcement. The RBI is expected to cut rates. Some stocks like Ashoka Buildcon saw gains. Other sectors showed mixed performance in early trading.

Dr. Reddy’s Laboratories has partnered with global biotech firm Alvotech to co-develop and commercialize a biosimilar of Keytruda (pembrolizumab), an immunotherapy drug with $29.5 billion in global sales in 2024. The collaboration aims to leverage Alvotech’s R&D strengths and Dr. Reddy’s commercial reach to tap into the fast-growing oncology biosimilars segment and expand global market presence.

Axis Securities has reaffirmed Buy recommendations on high-conviction stocks after reviewing Q4FY25 results, highlighting strong growth prospects and solid fundamentals. Stocks like Trent and Prestige Estates Projects are expected to see significant gains. The firm anticipates continued growth momentum for companies like Varun Beverages and DOMS Industries, driven by strategic initiatives and expansion plans.

JM Financial recommends a buy for UltraTech Cement, setting a target price of Rs 13500.0. In the quarter ending March 2025, UltraTech Cement reported a consolidated total income of Rs 23165.45 crore, a 12.70% increase from the previous year, and a net profit after tax of Rs 2485.56 crore. Promoters hold a significant 59.23% stake in the company.

Gaja Capital has raised Rs 125 crore in a pre-IPO round from long-term investors including SBI Life, HDFC Life, Enam, and Jagdish Master, valuing the firm at Rs 1,625 crore. It aims to become India’s first listed standalone private equity firm. The funds will help seed new funds, expand distribution, and explore new strategies, marking a milestone for alternative asset management in India.

Foreign Institutional Investor activity slowed down in late May. Key sectors like IT and financial services saw significant pullbacks. There was a notable sell-off in auto and auto components. However, FMCG and construction sectors experienced a turnaround. Overall, May marked the second consecutive month of FII buying. But, year-to-date, FIIs remain net sellers. Capital goods also saw increased investment.

ICICI Securities maintains a buy call on Lemon Tree Hotels, setting a target price of Rs 174. The company s Q4FY25 revenue reached Rs 3.8 billion, a 15% year-over-year increase, driven by portfolio ARR growth and improved occupancy. The brokerage anticipates a reduction in net debt by March 2027 and retains its positive outlook based on strong EBITDA margins.