Latest Stock Market News

Indian Bank plans to reduce its 38.26% stake in ASREC (India) Ltd to below 30% by FY26, in compliance with regulatory norms limiting bank exposure in non-subsidiaries. The stake is valued at ₹37.5 crore.

The Indian rupee extended losses for a third consecutive session on Tuesday, closing at a fresh record low of 87.80 per dollar.

Indian markets closed lower Tuesday as Nifty fell 0.3%, dragged by energy, bank, and IT stocks. The index stayed below the 50 EMA, signaling continued weakness. Analysts expect consolidation between 24,400 and 24,850 in the short term.

Exide Industries Ltd on Tuesday reported a 24 per cent year-on-year (YoY) rise in its consolidated net profit to Rs 275 crore for the first quarter of the 2025-26 fiscal (FY 26), aided by higher revenues and improved operating efficiencies.

Sandur Manganese & Iron Ores will consider a bonus share issue on August 8, following its 5:1 bonus in February. The stock rose 4.3% post-announcement. Quarterly results will also be declared on the same day.

Although the Sensex fell 308 points to 80,710 on Tuesday, 12 BSE 500 stocks surged to 52-week highs. These breakout gains signal bullish momentum, with Schneider Electric, Star Cement, and Nuvoco Vistas among top performers in the past month.

BLS International reported a strong Q1 FY26 with revenue up 44% YoY to Rs 711 crore and net profit rising 50% to Rs 181 crore. The company, operating in over 70 countries, attributed its performance to a diversified business model, AI-driven strategy, and expansion in global citizen service markets.

Wall Street futures saw a positive opening on Tuesday. This rise is attributed to growing anticipation of potential interest rate cuts by the Federal Reserve. Investors are also closely examining new corporate earnings reports. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all experienced gains at the opening bell. Market watchers are keenly observing these trends.

Bharti Airtel’s Q1FY26 net profit rose nearly 40% YoY to Rs 5,947.9 crore, driven by increased data usage, higher ARPU, and rising smartphone user base. Revenue rose 18% YoY to Rs 49,462.6 crore, led by growth in India and Africa.