The stake sale will be done through the stock exchanges via an offer for sale (OFS). The decision was made at a meeting held today, and the company informed about the development after market hours.

In Q4 FY24, Asian Paints reported a net profit of Rs 1,257 crore, up 2% year-on-year (YoY) from Rs 1,234 crore in the same quarter of the previous year. However, its revenue from operations slightly declined to Rs 8,731 crore compared to Rs 8,787 crore in the same quarter last year.

Stock Market Crash: Sensex plunged over 800 points intraday on Wednesday, with Nifty dropping over 1%, shaking retail investors accustomed to daily gains but recovered half of the losses towards the end of the day. Smallcap and midcap indices saw their worst day in over a month. M&M led Nifty's decline with a 7% drop amid concerns over XUV700 price cuts signaling weaker car demand.

Since the June 4 market debacle when Nifty hit a low of 21,884.50, it has seen a rally largely moving towards north. The index attained a lifetime high of 24,433.20, traversing 2,560 points or 12%.

Angel One denies new data breach, clarifies leaked data from April 2023. Company assures customers of enhanced security measures including two-factor authentication. Client base grows significantly in June 2024. Personal information of 7.9 million customers leaked in previous breach.

Five stocks, including M&M, MCX, Hindustan Copper, NMDC, and National Aluminium, saw a rise in fresh short positions as their prices dropped.

​​It has been seen that the decline in demand is not as strong as it used to be, maybe because the overall thrust on infrastructure is far higher or the fact that as the economy grows, the overall demand matrix is better for cement companies. Like the way other industries have gone through consolidation, cement is going through a wave of consolidation once again and there are enough examples from the past where mergers and acquisitions have preceded the next round of re-rating of the stocks.

Kacholia on the other hand appears to have capitalised on the buy-on-dips opportunity. While its returns in 2024, so far have been negative 21%, on an annual basis they stand at 75%.

Bansal Wire Industries debuted with a 39% premium on its issue price, driven by robust investor demand. Post-listing, shares dipped slightly but traded 36% above the IPO price at Rs 349.5. Analysts highlight strong customer diversification and a diverse product portfolio, mitigating revenue risks across sectors.

Global brokerage firm Nomura predicts significant growth disparities in the banking sector, favoring ICICI Bank, SBI, Kotak Mahindra Bank, and Federal Bank.

The industry assets were at an all-time high of Rs 61.16 lakh crore in June mainly because of mark-to-market (MTM) gains and net inflows in equity. The folio count also has crossed a new threshold of 19 crore, according to a monthly note by AMFI.

On a day when Nifty and sensex are trading with a big cut and all the segments are in red. Talking of small caps which is one probably riskiest segment of the market might appear to be going in the wrong direction. But the fact is that it is a day like this which serves as a reminder of two things. First, however strong the bull run might be, corrections are bound to take place. Second, finally in the end, it is business and the management which manages the business which matters for earnings and earning is what matters to the street. So, if you are looking to invest in markets and especially in the small cap segment there has to be a checklist which if followed, the probability of making mistakes gets reduced and also one is able to get to stocks which create wealth over the long term.

Pune-based Emcure Pharmaceuticals listed at Rs 1,325, a 31.4% premium on Rs 1,008 IPO price. QIBs subscribed 195.8 times, non-institutional investors 48.3 times. Analysts recommend long-term holding. IPO proceeds target debt and corporate purposes. Offering products in therapeutic areas, Emcure recorded Rs 6,658 crore revenue in FY24 and operates in Europe, Canada.

Despite gains for RVNL, CAMS, and REC, the bearish market saw Sensex and Nifty crashing. RVNL gained 8%, CAMS 4%, and REC over 3%. Mahindra & Mahindra fell 7%, signaling weak auto demand. Media, PSU banks, real estate, and oil and gas sectors suffered. Sensex and Nifty's crash impacted smallcaps significantly.

On a day when Nifty and sensex are trading with a big cut and all the segments are in red. Talking of small caps which is one probably riskiest segment of the market might appear to be going in the wrong direction. But the fact is that it is a day like this which serves as a reminder of two things. First, however strong the bull run might be, corrections are bound to take place. Second, finally in the end, it is business and the management which manages the business which matters for earnings and earning is what matters to the street. So, if you are looking to invest in markets and especially in the small cap segment there has to be a checklist which if followed, the probability of making mistakes gets reduced and also one is able to get to stocks which create wealth over the long term.

Japan's Nikkei hit 41,889.16 amid a financial stock rally. Fast Retailing, SoftBank Group rose; Tokyo Electron recovered. Financials led as the Bank of Japan met during political uncertainty. Analysts see July earnings boosting equities despite bond yield risks. The Nikkei closed at 41,831.99, Topix at 2,909.20. Insurance firms rose 3.5%, Kokusai Electric fell 7.2%, Recruit Holdings up 3.

Sensex plunged over 800 points on Wednesday, with Nifty dropping over 1%, shaking retail investors accustomed to daily gains. Smallcap and midcap indices saw their worst day in over a month. The market turned sharply after hitting new highs, succumbing to bearish pressure. M&M led Nifty's decline with a 7% drop amid concerns over XUV700 price cuts signaling weaker car demand.

A short buildup is when there is a rise in open interest and volumes along with a decrease in the price of the underlying stock in the Futures and Options segment. Short buildup means more people are expecting the prices to go down and creating short positions. In Wednesday's trading session, five stocks witnessed a build of fresh short positions. Here's the list:

Krishna Institute of Medical Sciences saw a 4.4% increase in shares following the acquisition of Chalasani Hospitals.

Delta Corp Q1 FY24 profit fell 34% to Rs 40.48 crore; gaming revenue decreased 16% YoY to Rs 130 crore and hospitality to Rs 12 crore.

M&M shares fell 6% due to XUV700 price cuts. Countering peer discounts and weak sales, cuts could lower earnings but increase volumes. AX7, AX7L trims are 50-60% of 6,000-8,000/month volume. Axis Capital sets a target price at Rs 3,150. Domestic brokerage firm estimates 2-3% impact on overall EBITDA. Cuts affect EBITDA by Rs 300-350 mn/month for four months.

Indian indices hit highs due to Maruti Suzuki but fell after Powell's US Congress remarks, affecting M&M, Axis, and HDFC Bank. Nifty Bank fell; crude oil prices impacted. FIIs bought Rs 314 crore in equities. Delta Corp dropped; RVNL rose. SIP inflows and Asian markets offered a broader context.

Shares of Mankind Pharma surged 4% to Rs 2,187.85, and Delhivery rose 2% to Rs 403.65 on the BSE following stake sales via block deals. Hema CIPEF (I), an affiliate of Capital Group, likely sold 0.9% of Mankind Pharma. Canada Pension Plan Investment reportedly offloaded 3.17% of Delhivery, valued at around Rs 886 crore. Official parties to the transactions are undisclosed.

Rail Vikas Nigam's stock surged 10% to Rs 598 after securing a contract for six Nagpur elevated metro stations, including Kanhan River. Completion is in 30 months. The FY25 order inflow targets Rs 20,000-25,000 crore, and it possesses an Rs 85,000 crore order book. Market capitalization reached Rs 1.11 lakh crore, post revenue growth of 17.4%.

Before listing, the company's shares traded at a Rs 360 premium in the grey market. It raised Rs 582 crore from anchor investors, including HDFC MF, ICICI Pru MF, SBI MF, Abu Dhabi Investment Authority, Goldman Sachs Asset Management, Nomura, and HDFC Life. Analysts are bullish on the IPO for listing gains and long-term growth, citing its strong position in domestic therapeutics and expansion plans in India and exports.

Anant Raj Ltd, part of the realty sector, has seen a remarkable rally of over 200% in a year, breaking out from a 17-year consolidation. Experts suggest short-term traders consider buying the stock for potential gains above Rs 600 levels in the next few weeks.

Bansal Wire listed at Rs 356 on NSE with a 39% premium. Pre-listing unlisted premium was Rs 63. IPO funds will repay debt.

Several brokerages are bullish on a number of stocks from different sectors, such as banking, IT and Pharma. Trendlyne data shows that 7 Nifty Smallcap index stocks, including RBL Bank, Piramal Pharma, PVR INOX, and Cyient have high analyst ratings and can deliver up to 40%. Here's the list:

Alliance Integrated Metaliks has set July 11 as the record date for a 2:1 bonus share issuance, making today the deadline to buy shares and qualify. Shareholders will receive two bonus shares for each held. The company plans to use Rs 26.33 crore from reserves/premiums for the bonus issue.

Nifty may report 4% Q1 earnings growth driven by BFSI, auto, metals, healthcare, and real estate, with Trent and Zomato showing significant consumption sector growth. Pharmaceuticals Glenmark Pharma and Laurus Labs have high growth, private and PSU banks lower. Motilal Oswal and Kotak predict 30 companies may report over 100% profit growth.

Macquarie maintains a neutral view on Maruti Suzuki with a target price of Rs 11,565. India's second-largest state has eliminated taxes on strong hybrids, cutting the price premium over ICE vehicles from 20% to 10%. This change is beneficial for Maruti Suzuki, which holds a 20% market share in strong hybrids as of CY2023.

The BSE Sensex was trading 160 points, or 0.20%, lower at 80,191. The Nifty50 was down 33 points, or 0.14%, trading at 24,399 around 9:20 am.

Following a 20% rally in HDFC Bank shares due to value buying and optimism over potential MSCI weightage increase, global brokerage firm BofA downgraded the private sector lender from buy to neutral. They also revised the target price to Rs 1,830 from Rs 1,850, citing potential challenges in navigating FY25.

After the record date, Raymond will trade ex-Raymond Lifestyles, with the new entity expected to be listed by August or September this year. As part of this restructuring process, Raymond will demerge its lifestyle business into Raymond Lifestyle. Ray Global Consumer Trading will be amalgamated into Raymond Lifestyle to streamline the group structure.

Large caps are getting their momentum back for swing trading.

Check out Stock Reports Plus, powered by Refinitiv, for price targets of over 4,000 listed stocks along with detailed company analysis focusing on five key components - earnings, fundamentals, relative valuation, risk and price momentum to generate standardized scores. SR+ Reports is a complimentary offering to ETPrime members.

The hacker said he had released only a part of the data. However, according to a private cyber security consultant, the data seems to be from 2023.

Sebi's panel, led by G Padmanabhan, will meet July 15 to discuss equity derivatives measures, addressing speculative expiry day trades. It includes increasing lot sizes, enhancing margins, upfront premiums, and intra-day monitoring. Chairperson Madhabi Puri Buch highlights investor protection. Derivative turnover rose from ₹210 lakh crore in FY18 to ₹500 lakh crore in FY24, with index options involvement increasing.

The government's plan to relax rice export restrictions led to share surges in Kohinoor (9.6%), Chaman Lal (8.8%), KRBL (7.1%), and LT Foods (5.96%), aiming to avoid an October glut and tackle food inflation. Key points include Minimum Export Price, sector rotation, rural focus, biogas policy, Russia's impact, Geojit Financial Services, agricultural waste, and the agro-economy.

High net-worth individuals are increasingly turning to private credit funds due to the removal of tax benefits for debt mutual funds. This shift reflects a growing interest in fixed-income options among the affluent segment.

Nifty and Sensex soared to all-time highs with stocks like Maruti Suzuki and Divi's Labs, driven by ₹40,000 crore mutual fund inflows. Analysts see technical resistance and possible consolidation, awaiting Powell’s testimony on rates and inflation. Sensex hit an intraday record, with the July budget and June quarter earnings as key events.

The S&P 500 and Nasdaq closed at record highs, driven by Nvidia's rise and Powell's rate-cut remarks. Market optimism about AI growth countered Fed rate-cut uncertainty. Major banks saw gains ahead of earnings season. Analysts predict strong Q2 earnings. Tempus AI surged on bullish ratings amidst moderate market activity.

"Bandhan Bank stock has been consistently trading above its 50-day Moving Average on the daily chart, indicating a positive trend. Traders can buy for a target of Rs 213-230 in the next few weeks," says Kkunal V. Parar, Vice-President of Technical Research and Algo, Choice Broking.

Domestic markets closed positively with gains in various sectors like auto, pharma, and PSU banks. The Nifty trend remains positive with immediate support at 24250 levels. Global markets show mixed movements. Dollar strengthens, oil prices rise, and FII/DII data indicates net buying. Rupee slightly gains against the US dollar.

Sensex and Nifty hit records. Delta Corp's Q1 profit dips 34% to Rs 40.48 crore from Rs 61.43 crore last year. Paytm's One97 Communications faces labor notice. Bandhan Bank staff seek legal aid. JSW Steel updates production. Delhivery's equity sold by pension board. Hema CIPEF to sell Mankind Pharma stake. RVNL wins Nagpur Metro project. Mahindra cuts XUV700 price.

The bank stock soared to a 52-week high of Rs 263 in January 2024 but then tumbled over 22%, closing at Rs 204 in July. Despite briefly dipping to Rs 170 in April, the stock rebounded and now sits above its 50-day moving average.

Powell told lawmakers bluntly that "today I’m not going to be sending any signals about the timing of any future actions" on interest rates, as he was quizzed by Democrats about the risks to the job market and by Republicans about the pain to households of inflation that remains above the central bank's 2% target.

Monday marked the 35th instance of the S&P 500 setting a fresh closing record this year, as sharp gains in AI-linked and other tech shares kept equity sentiment bright, offsetting the uncertainty around the Fed's rate-cut path. However, the Dow Jones underperformed, with a more than 1% fall in Salesforce and Microsoft being the biggest drags, while the rate-sensitive small-cap Russell 2000 dropped 0.4%.

Hema CIPEF is selling 37 lakh shares (0.9% of its total equity) at a discounted price of Rs 2,061 per share, 2% below the current market value. As of the end of March, Hema CIPEF, a fund mostly owned by the company's promoters, held a 2.22% stake in Hema.