Latest Stock Market News

Indian government bonds faced increased losses, with benchmark yields hitting a five-month high due to a larger-than-planned state debt supply and tepid demand. The 10-year bond yield rose to 6.6112%. States are set to raise 341.5 billion rupees through bond sales, exceeding the scheduled 208.5 billion rupees.

Shreeji Shipping Global shares listed on the stock exchanges. The stock opened above its IPO price on both BSE and NSE. The IPO was heavily subscribed by various investor categories. The company plans to use the IPO proceeds for expansion and debt repayment. Shreeji Shipping Global specializes in dry-bulk cargo operations with a large fleet of vessels and equipment.

Vikram Solar shares: The stock rallied 9.2% on Tuesday, trading 12% above its IPO price as strong revenue outlook and robust order book revived investor interest after a muted debut.

Indian auto sales are slowing as buyers delay purchases ahead of a possible GST rate cut of up to 10% in September, which could spark a strong festive demand surge; Jefferies expects 2Ws and small PV makers to be the biggest beneficiaries.

Li Chenggang is set to travel to Washington this week for meetings with U.S. officials. A U.S. government spokesperson confirmed the trip but stressed that it will not be part of a formal negotiation round.

IT stocks like Infosys, TCS, HCL Tech, and Wipro are seeing renewed buying interest as tariff clarity boosts confidence, though experts caution against sharp gains. Deepak Shenoy highlights AI-driven adaptation for IT and sees private banks offering better value than PSU peers amid valuation concerns.

UBS resumed coverage on Reliance Industries with a ‘Buy’ rating and a Rs 1,750 target, citing strong prospects in Jio, retail, and new energy. The brokerage expects value unlocking across business segments, with earnings growth and sector-leading multiples supporting long-term re-rating potential for the stock.

SK Finance, backed by TPG Inc., has shelved its planned Indian IPO due to insufficient investor demand, even after reducing the valuation and offer size to 16 billion rupees. The non-bank lender, focusing on vehicle financing and small loans, secured regulatory approval in August 2024, which is expiring soon.