PC Jeweller shares retreated after a 37% three-session rally, likely due to profit booking. Despite the decline, the stock remains up 31% in a week and 45% in 2026, with gains of 388% over three years and 424% over five years.
Bloom Energy shares jumped after the company was selected for inclusion in the S&P 500, with the move set to take effect on September 21. UBS raised its price target to $325, citing potential passive-fund demand and growing AI-driven power demand.
The Prasol Chemicals IPO opened for subscription on September 8 and will remain open until September 10. The Rs 500 crore issue comprises a fresh issue of Rs 80 crore and an OFS of Rs 420 crore. Priced at Rs 643-Rs 676 per share, the IPO has a lot size of 22 shares, requiring a minimum retail investment of Rs 14,872.
South Korean stocks surged nearly 2%, with the Kospi reaching a three-week high, driven by semiconductor gains as concerns over AI investment demand eased. Samsung Electronics and SK Hynix rallied, while broader markets remained mixed. Foreign investors bought shares, the won strengthened, and second-quarter economic growth held steady at 0.6%.
GE Vernova T&D India shares rose after the company emerged as the lowest bidder for a 6,000 MW HVDC project from Power Grid. Nomura raised its target price to Rs 6,000, while Emkay retained its Buy rating with a Rs 5,300 target price. Both brokerages highlighted strong prospects in the transmission sector, capacity expansion, robust cash flows, and healthy earnings growth.
Indian stock markets opened lower on Tuesday, continuing their downward trajectory. The surge in crude oil prices coupled with anxieties over Federal Reserve rate hikes are major contributors to this decline. Moreover, the active IPO market is siphoning off significant capital from traditional stocks. Analysts expect this trend to extend in the near future and recommend that investors shift their focus toward large-cap stocks for improved risk-reward outcomes.
Life insurers reported a 33% YoY increase in total new business premium to Rs 41,198 crore in August, led by a sharp rise in group single-premium business. LIC posted more than 45% growth, while SBI Life and HDFC Life saw stronger retail-weighted premium growth.
Japanese shares were largely steady as investors balanced stronger domestic economic data against a firmer yen and expectations of a Bank of Japan rate hike. The Nikkei 225 edged higher, while Topix declined. Energy stocks gained, but transportation shares lagged. Markets remained cautious, with attention focused on yen movements and monetary policy.
Fly-Hi Maritime and Farm Peace are set to make their BSE SME debuts today, September 8, after their IPOs attracted modest demand. Fly-Hi Maritime was subscribed 2.12 times, with its GMP at around Rs 1, indicating a largely flat listing near Rs 103 against the issue price of Rs 102. Farm Peace was subscribed 1.16 times, while its Rs 59 issue price and latest subscription trends will be in focus as investors await its market debut.
Jefferies initiated coverage on Solar Industries and Astra Microwave with Buy ratings, citing strong defence growth prospects and rising order books. It also maintained Buy ratings on HAL and Bharat Electronics while assigning a Hold rating to Bharat Dynamics. The brokerage expects robust earnings growth across these companies, supported by rising defence spending, indigenisation and export opportunities.
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