Latest Stock Market News

Belrise Industries launched its IPO on May 21, aiming to raise Rs 2,150 crore through a fresh equity issue. The funds will primarily be used to reduce debt, with analysts recommending a SUBSCRIBE rating based on the company s growth prospects and attractive valuation. Belrise, a key automotive component supplier, serves major OEMs globally and reported strong financials in FY24.

The earnings season is wrapping up with 132 companies set to reveal their Q4 results on Wednesday. Key companies like ONGC, IndiGo, and IndusInd Bank are among those reporting. IndiGo is expected to announce a revenue jump. However, profit estimates vary among brokerages. Motilal Oswal anticipates a profit decline, while Kotak and ICICI Securities predict growth.

Moody s downgrade of U.S. debt is fueling concerns about investor appetite for U.S. government bonds, potentially driving yields higher. Rising yields could pressure stocks with elevated valuations, as they represent increased borrowing costs and investment competition. While a trade truce offers some optimism, the downgrade and proposed tax cuts raise concerns about the U.S. fiscal trajectory.

The Bank of Japan is under pressure to change its bond tapering strategy. This is due to a sharp increase in super-long bond yields. Some market participants want the BOJ to buy more bonds. Others suggest halting the tapering of these bonds. The BOJ will review its tapering plan next month.

James Hardie Industries reported a 9% drop in annual profit, leading to a 7% share price decline. The company anticipates weaker-than-expected earnings growth for fiscal year 2026, projecting low single-digit growth in adjusted EBITDA. This outlook is driven by anticipated market volume declines in North America and broader macroeconomic uncertainties impacting home construction costs and consumer sentiment.

Borana Weaves IPO continued to attract strong interest on Day 2, with overall subscription reaching 8.5 times and the retail portion booked 25 times. The IPO s grey market premium (GMP) surged to Rs 60, indicating a potential 28% listing gain. The issue aims to raise Rs 144.89 crore and closes on May 22.

Accretion Pharmaceuticals, a Gujarat-based pharma manufacturer, concluded its SME IPO with a strong subscription of 7.31 times. The IPO, priced at Rs 96-101 per share, aims to utilize proceeds for capital expenditures and facility upgrades. Despite robust financial growth and international presence, the grey market premium remained flat, indicating market caution ahead of its NSE SME platform listing.

Emkay Investment Managers Sachin Shah highlights a mega-trend of US corporates diversifying supply chains globally, benefiting countries like India. He believes India is poised to gain incremental market share in sectors like specialty chemicals and pharmaceuticals. With cooling trade war tensions and increasing FII inflows, India stands out among emerging markets, showcasing its domain expertise and scale.

The outlook by most of the businesses also continue to be fairly optimistic. So, if one selects a decent set of companies, it will not be very difficult to generate a 15% to 20% earnings growth at the portfolio level for the next two years.

We have collated a list of recommendations from top brokerage firms from ETNow and other sources.