< -5%

-5% to -3%

Indag Rubber

JK Tyre Ind

Apollo Tyres

Rubfila Intl

Goodyear

Ceat

Eastern Treads

-3% to 0%

MM Rubber

Modi Rubber

Vamshi Rubber

Tolins Tyres

Pix Transmis

Krypton

Balkrishna Ind

Emerald Tyre

0% to 3%

Somi Conveyor

TVS Srichakra

Dolfin Rubbers

3% to 5%

Shadowfax Tech shares listed at a 9.19 percent discount to IPO price on NSE, Analysts advise IPO allottees to hold with a strict stop loss at Rs 105, Fresh investors should wait for price stability before considering entry

* Shadowfax Tech shares listed at a 9.19 percent discount to IPO price on NSE
* Analysts advise IPO allottees to hold with a strict stop loss at Rs 105
* Fresh investors should wait for price stability before considering entry

Shadowfax Technologies shares debuted 9% below IPO price, recovered slightly but stayed in the red. Analysts advise IPO allottees to hold with a stop loss at Rs 105; fresh investors should wait for price stability due to valuation concerns and market volatility.

shorts/business/shadowfax-continues-to-trade-in-red-after-weak-listing-here-s-a-stop-loss-if-you-have-the-stock

* Shadowfax Tech shares listed at a 9.19 percent discount to IPO price on NSE
* Analysts advise IPO allottees to hold with a strict stop loss at Rs 105
* Fresh investors should wait for price stability before considering entry

The shares of <a href="https://www.moneycontrol.com/india/stockpricequote/miscellaneous/shadowfaxtechnologies/STL14">Shadowfax Technologies</a> made some recovery after making a weak market debut, but continued to trade in the deep red on January 28. Analysts have suggested what allotted investors should do.

The shares of the Bengaluru-based technology-led logistics solutions provider listed at 112.60 apiece on NSE, marking a discount of 9.19 percent over the IPO price of Rs 124 apiece.

The stock then recovered some losses, rising around 6 percent from its listing price to trade at Rs 119.67 apiece. However, it is still down around 3.5 percent from its IPO price of Rs 124 apiece.
<h3><strong>What should investors do?</strong></h3>
Shadowfax’s <a href="https://www.moneycontrol.com/news/business/ipo/shadowfax-shares-make-weak-market-debut-list-at-9-discount-to-ipo-price-13793981.html">weak stock market debut</a> indicates cautious investor sentiment towards the logistics and new-age business space, said Shivani Nyati, Head of Wealth at Swastika Investmart. The discounted listing suggests valuation concerns, and the stock may remain volatile or range-bound in the near term as markets focus on profitability, cash flows and execution, she added.

IPO allottees may hold with a strict stop loss at Rs 105 to protect downside risk, according to the analyst, who further said that fresh investors should avoid immediate entry and consider buying only after price stability, with a similar stop loss of Rs 104–105.

“On the upside, the ₹120–124 zone is likely to act as a resistance in the short term,” she added.

Shadowfax is a technology-driven, asset-light logistics company focused on last-mile delivery, express parcels, reverse logistics and quick commerce services, said Mahesh M. Ojha, VP Research and Business Development at Kantilal Chhaganlal Securities. The company operates across more than 2,300 cities and 14,700 PIN codes and serves clients such as Flipkart, Meesho, Swiggy, Blinkit and Nykaa.

According to him, the stock may be suitable for high-risk investors given the overall positive industry outlook. Investors with a long-term perspective who have already applied may consider holding the stock, while short-term investors could look to book gains on listing, if any. Fresh investors may wait for price discovery after listing.
<h3><strong>Shadowfax Tech IPO:</strong></h3>
The weak market debut comes despite the IPO of Shadowfax Technologies closing with 1.68 times subscription during its three days of public bidding between January 20 and January 22. Retail individual investors (RII) and qualified institutional buyers (QIB) had booked their respective reserved portion more than 2 times, while non-institutional investors (NII) subscribed 54 percent of their allotted quota.

Bengaluru-based technology-led logistics solutions provider Shadowfax Tech moved to the primary capital market to raise Rs 1,907.2 crore through its initial public offering (IPO), which comprised a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of shares worth Rs 907.2 crore by several investors including Flipkart, Eight Roads Investments, Qualcomm, and NewQuest Asia Fund.

The price band for the IPO was set at Rs 118-124 per share. Investors could bid for a minimum of 120 shares, requiring an investment of Rs 14,160, and in multiples thereafter.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-start-us-asian-markets-mixed-2-liveblog-13793449.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

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Shadowfax continues to trade in red after weak listing: Here's a stop loss if you have the stock

The shares of Shadowfax Technologies made some recovery after making a weak market debut, but continued to trade in the deep red on January 28. Analysts have suggested what allotted investors should do.

The shares of the Bengaluru-based technology-led logistics solutions provider listed at 112.60 apiece on NSE, marking a discount of 9.19 percent over the IPO price of Rs 124 apiece.

The stock then recovered some losses, rising around 6 percent from its listing price to trade at Rs 119.67 apiece. However, it is still down around 3.5 percent from its IPO price of Rs 124 apiece.
What should investors do?
Shadowfax’s weak stock market debut indicates cautious investor sentiment towards the logistics and new-age business space, said Shivani Nyati, Head of Wealth at Swastika Investmart. The discounted listing suggests valuation concerns, and the stock may remain volatile or range-bound in the near term as markets focus on profitability, cash flows and execution, she added.

IPO allottees may hold with a strict stop loss at Rs 105 to protect downside risk, according to the analyst, who further said that fresh investors should avoid immediate entry and consider buying only after price stability, with a similar stop loss of Rs 104–105.

“On the upside, the ₹120–124 zone is likely to act as a resistance in the short term,” she added.

Shadowfax is a technology-driven, asset-light logistics company focused on last-mile delivery, express parcels, reverse logistics and quick commerce services, said Mahesh M. Ojha, VP Research and Business Development at Kantilal Chhaganlal Securities. The company operates across more than 2,300 cities and 14,700 PIN codes and serves clients such as Flipkart, Meesho, Swiggy, Blinkit and Nykaa.

According to him, the stock may be suitable for high-risk investors given the overall positive industry outlook. Investors with a long-term perspective who have already applied may consider holding the stock, while short-term investors could look to book gains on listing, if any. Fresh investors may wait for price discovery after listing.
Shadowfax Tech IPO:
The weak market debut comes despite the IPO of Shadowfax Technologies closing with 1.68 times subscription during its three days of public bidding between January 20 and January 22. Retail individual investors (RII) and qualified institutional buyers (QIB) had booked their respective reserved portion more than 2 times, while non-institutional investors (NII) subscribed 54 percent of their allotted quota.

Bengaluru-based technology-led logistics solutions provider Shadowfax Tech moved to the primary capital market to raise Rs 1,907.2 crore through its initial public offering (IPO), which comprised a fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of shares worth Rs 907.2 crore by several investors including Flipkart, Eight Roads Investments, Qualcomm, and NewQuest Asia Fund.

The price band for the IPO was set at Rs 118-124 per share. Investors could bid for a minimum of 120 shares, requiring an investment of Rs 14,160, and in multiples thereafter.

Follow all LIVE updates from the stock markets here.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

<strong>Q3 Results LIVE:</strong> Around 127 companies are announcing their results for the October-December quarter of the ongoing financial year 2026 today. Some of the notable names among them include Aditya Birla Real Estate, ACC, Arvind Fashions, Balkrishna Industries, Bharat Electronics, Borosil Renewables, Brigade Hotel Ventures, Crizac, CSB Bank, Gland Pharma, Heritage Foods, Lodha Developers, Larsen &amp; Toubro, LT Foods, Mahindra &amp; Mahindra Financial Services, Maruti Suzuki India, National Securities Depository (NSDL), The Phoenix Mills, Pine Labs, Piramal Pharma, Sagility, SBI Cards and Payment Services, SBI Life Insurance Company, Symphony, Thyrocare Technologies, TVS Motor Company and V-Guard Industries.

Q3 Results LIVE: Maruti Suzuki, BEL, L&T among 127 companies announcing Dec quarter earnings today

Live Blog

Q3 Results LIVE: Around 127 companies are announcing their results for the October-December quarter of the ongoing financial year 2026 today. Some of the notable names among them include Aditya Birla Real Estate, ACC, Arvind Fashions, Balkrishna Industries, Bharat Electronics, Borosil Renewables, Brigade Hotel Ventures, Crizac, CSB Bank, Gland Pharma, Heritage Foods, Lodha Developers, Larsen &amp;amp; Toubro, LT Foods, Mahindra &amp;amp; Mahindra Financial Services, Maruti Suzuki India, National Securities Depository (NSDL), The Phoenix Mills, Pine Labs, Piramal Pharma, Sagility, SBI Cards and Payment Services, SBI Life Insurance Company, Symphony, Thyrocare Technologies, TVS Motor Company and V-Guard Industries.

Q3 Results LIVE: Maruti Suzuki, BEL, L&amp;T among 127 companies announcing Dec quarter earnings today

ONGC and Oil India shares surged up to 10 percent amid rising global oil prices, US winter storm and Middle East tensions drove oil prices higher, ONGC hit a 52-week high after signing shipbuilding contracts for ethane carriers

* ONGC and Oil India shares surged up to 10 percent amid rising global oil prices
* US winter storm and Middle East tensions drove oil prices higher
* ONGC hit a 52-week high after signing shipbuilding contracts for ethane carriers

Shares of ONGC and Oil India surged up to 10% as oil prices rose due to US supply disruptions from a winter storm and Middle East tensions. ONGC also hit a 52-week high after announcing shipbuilding contracts for ethane carriers with Samsung Heavy Industries.

shorts/business/ongc-oil-india-shares-jump-up-to-10-to-new-record-highs-as-oil-prices-rise

* ONGC and Oil India shares surged up to 10 percent amid rising global oil prices
* US winter storm and Middle East tensions drove oil prices higher
* ONGC hit a 52-week high after signing shipbuilding contracts for ethane carriers

The shares of state-run Oil &amp; Natural Gas Corporation (<a href="https://www.moneycontrol.com/india/stockpricequote/oil-drillingexploration/oilnaturalgascorporation/ONG">ONGC</a>) and <a href="https://www.moneycontrol.com/india/stockpricequote/oil-drillingexploration/oilindia/OI13">Oil India</a> jumped up to 10 percent in trade on January 28, tracking the sharp rise in oil prices. This comes amid supply concerns after a severe winter storm disrupted US crude output and exports.

Additionally, rising tensions in the Middle East also supported oil prices. Brent crude futures rose 33 cents to $67.90 a barrel, while WTI Crude futures gained 42 cents to trade at $62.81 per barrel, as seen at 11 am.

The two stocks were among the top gainers on the Nifty Oil &amp; Gas index, which was up more than 3 percent at 11,735.55.
<h3><strong>Why are oil prices rising?</strong></h3>
Oil extended gains as analysts estimated that US producers lost up to 2 million barrels per day or roughly 15 percent of national output over the weekend as the storm strained energy infrastructure and power grids.

Crude and liquefied natural gas exports from U.S. Gulf Coast ports tumbled to zero on Sunday, Reuters quoted ship tracking service Vortexa as saying. The report added that Toshitaka Tazawa, an analyst at Fujitomi Securities, said that a loss of production in Kazakhstan is also underpinning the rally in oil prices.

"But once supply fears ease, selling pressure is likely to return," Tazawa added. He further said that an estimated global crude supply surplus this year amid geopolitical risks, including the Middle East tensions, could keep WTI trading around $60 a barrel for now.

Tensions between US and Iran are also supporting oil prices. Reuters reported citing sources that a US aircraft carrier and supporting warships have arrived in the Middle East. This has raised the prospect of US President Donald Trump following through on his threat to attack Iran's senior leadership in response to the violent crackdown on nationwide protests, said ANZ analysts in a note.
<h3><strong>ONGC share price:</strong></h3>
ONGC shares jumped more than 7 percent to hit a fresh 52-week high of Rs 266.2 apiece. Earlier yesterday, ONGC announced that it entered into Ship Building Contracts (SBCs) with South Korea’s Samsung Heavy Industries for the construction of two state-of-the-art Very Large Ethane Carriers (VLEC).

“ONGC and MOL Japan have set up two joint venture companies, Bharat Ethane One IFSC Pvt. Ltd. and Bharat Ethane Two IFSC Pvt. Ltd., in GIFT City, Gujarat, with each company owning and operating one VLEC. These vessels will support the transportation of about 600 KTPA of ethane for OPaL, a subsidiary of ONGC,” the company said in a press release.

The VLECs will be Indian-flag, with a cargo capacity of one lakh cubic meters each, it added.

ONGC shares have gained nearly 9 percent in the past five days, and more than 12 percent in the past one month.
<h3><strong>Oil India share price:</strong></h3>
Oil India shares jumped nearly 10 percent to hit a fresh 52-week high of Rs 492 apiece. The stock has gained more than 11 percent in the past five days, and over 18 percent in the past one month.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-start-us-asian-markets-mixed-2-liveblog-13793449.html">LIVE updates</a> from the stock markets here.

<em>(With inputs from Reuters)</em>

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

ONGC, Oil India shares jump up to 10% to new record highs as oil prices rise

The shares of state-run Oil &amp;amp; Natural Gas Corporation (ONGC) and Oil India jumped up to 10 percent in trade on January 28, tracking the sharp rise in oil prices. This comes amid supply concerns after a severe winter storm disrupted US crude output and exports.

Additionally, rising tensions in the Middle East also supported oil prices. Brent crude futures rose 33 cents to $67.90 a barrel, while WTI Crude futures gained 42 cents to trade at $62.81 per barrel, as seen at 11 am.

The two stocks were among the top gainers on the Nifty Oil &amp;amp; Gas index, which was up more than 3 percent at 11,735.55.
Why are oil prices rising?
Oil extended gains as analysts estimated that US producers lost up to 2 million barrels per day or roughly 15 percent of national output over the weekend as the storm strained energy infrastructure and power grids.

Crude and liquefied natural gas exports from U.S. Gulf Coast ports tumbled to zero on Sunday, Reuters quoted ship tracking service Vortexa as saying. The report added that Toshitaka Tazawa, an analyst at Fujitomi Securities, said that a loss of production in Kazakhstan is also underpinning the rally in oil prices.

&quot;But once supply fears ease, selling pressure is likely to return,&quot; Tazawa added. He further said that an estimated global crude supply surplus this year amid geopolitical risks, including the Middle East tensions, could keep WTI trading around $60 a barrel for now.

Tensions between US and Iran are also supporting oil prices. Reuters reported citing sources that a US aircraft carrier and supporting warships have arrived in the Middle East. This has raised the prospect of US President Donald Trump following through on his threat to attack Iran's senior leadership in response to the violent crackdown on nationwide protests, said ANZ analysts in a note.
ONGC share price:
ONGC shares jumped more than 7 percent to hit a fresh 52-week high of Rs 266.2 apiece. Earlier yesterday, ONGC announced that it entered into Ship Building Contracts (SBCs) with South Korea’s Samsung Heavy Industries for the construction of two state-of-the-art Very Large Ethane Carriers (VLEC).

“ONGC and MOL Japan have set up two joint venture companies, Bharat Ethane One IFSC Pvt. Ltd. and Bharat Ethane Two IFSC Pvt. Ltd., in GIFT City, Gujarat, with each company owning and operating one VLEC. These vessels will support the transportation of about 600 KTPA of ethane for OPaL, a subsidiary of ONGC,” the company said in a press release.

The VLECs will be Indian-flag, with a cargo capacity of one lakh cubic meters each, it added.

ONGC shares have gained nearly 9 percent in the past five days, and more than 12 percent in the past one month.
Oil India share price:
Oil India shares jumped nearly 10 percent to hit a fresh 52-week high of Rs 492 apiece. The stock has gained more than 11 percent in the past five days, and over 18 percent in the past one month.

Follow all LIVE updates from the stock markets here.

(With inputs from Reuters)

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Axis Bank shares reach record high after 4% profit growth in December quarter., Stock surged over 4 percent, helping Bank Nifty reclaim 59,500 level., Analysts cite strong fee income and improved cost-to-income dynamics.

* Axis Bank shares reach record high after 4% profit growth in December quarter.
* Stock surged over 4 percent, helping Bank Nifty reclaim 59,500 level.
* Analysts cite strong fee income and improved cost-to-income dynamics.

Axis Bank shares hit a record high after posting a 4% rise in December quarter net profit, boosting Bank Nifty. Strong fee income and improved cost dynamics drove gains, with analysts raising price targets. Market cap rose by Rs 7,126.82 crore.

shorts/business/axis-bank-shares-extend-rally-to-record-high-level-on-strong-q3-results-help-bank-nifty-reclaim-59-500

* Axis Bank shares reach record high after 4% profit growth in December quarter.
* Stock surged over 4 percent, helping Bank Nifty reclaim 59,500 level.
* Analysts cite strong fee income and improved cost-to-income dynamics.

Axis Bank shares on Wednesday extended their rally to a record high, rising more than 4 percent after the private sector lender reported a 4 percent growth in its net profit for the December quarter, helping the Bank Nifty reclaim the 59,500 level.

The stock jumped to a fresh 52-week high of Rs 1,369.40 per share on the National Stock Exchange (NSE). It opened gap-up with a gain of 2.45 percent and added to the momentum seen over the past two sessions. The shares of the largecap company have gained nearly 7 percent in the last two days.

On Tuesday, <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/axisbank/AB16">Axis Bank</a> shares surged 4.59 percent to close at Rs 1,315.80, marking the biggest single-day percentage rise for the stock in the past 15 months.

According to analysts at Centrum, Axis Bank’s quarterly performance exceeded expectations, driven by strong fee income momentum and improving cost-to-income dynamics, which should ease concerns around margin compression. Emkay Research raised its price target on the stock to Rs 1,475 from Rs 1,400, citing attractive valuations.

The company’s market capitalisation rose by Rs 7,126.82 crore to Rs 4,15,529.26 crore on Wednesday, compared with Rs 4,08,185.06 crore in the previous session.

Axis Bank on Monday reported a 4 percent increase in net profit to Rs 7,010.65 crore for the December quarter, compared with Rs 6,742.99 crore in the year-ago period. On a standalone basis, profit rose to Rs 6,489.57 crore from Rs 6,303.77 crore a year earlier.

The lender’s net interest income grew 5 percent to Rs 14,287 crore, supported by a 14 percent rise in loans, though net interest margin declined by 29 basis points to 3.64 percent.

Chief Executive Officer and Managing Director Amitabh Chaudhry said the bank’s ambition remains unchanged and it aims to outpace system growth in a sustainable manner.

The gross non-performing assets ratio improved to 1.40 percent from 1.46 percent in the preceding quarter. Provisions increased to Rs 2,245.92 crore from Rs 2,155.63 crore in the year-ago period.

The sharp rise in the Axix Bank shares also led to a rub-off effect as the Bank Nifty advanced to a high of 59,659.15. <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/yesbank/YB">Yes Bank</a> and HDFC Bank were among the other top two gainers, rising up to 2 percent.

<em><strong>Disclaimer:</strong> The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.</em>

A financial journalist with over 10 years of experience, specialising in tracking stock market movements and fundamental developments that impact investors and the broader economy. A keen observer of global financial markets, I regularly engage with leading market voices to write stories. At Moneycontrol, I focus on decoding market trends, policy shifts and economic changes, driven by a constant passion to learn, analyse, and share knowledge with my readers.

Axis Bank shares extend rally to record high level on strong Q3 results, help Bank Nifty reclaim 59,500

Axis Bank shares on Wednesday extended their rally to a record high, rising more than 4 percent after the private sector lender reported a 4 percent growth in its net profit for the December quarter, helping the Bank Nifty reclaim the 59,500 level.

The stock jumped to a fresh 52-week high of Rs 1,369.40 per share on the National Stock Exchange (NSE). It opened gap-up with a gain of 2.45 percent and added to the momentum seen over the past two sessions. The shares of the largecap company have gained nearly 7 percent in the last two days.

On Tuesday, Axis Bank shares surged 4.59 percent to close at Rs 1,315.80, marking the biggest single-day percentage rise for the stock in the past 15 months.

According to analysts at Centrum, Axis Bank’s quarterly performance exceeded expectations, driven by strong fee income momentum and improving cost-to-income dynamics, which should ease concerns around margin compression. Emkay Research raised its price target on the stock to Rs 1,475 from Rs 1,400, citing attractive valuations.

The company’s market capitalisation rose by Rs 7,126.82 crore to Rs 4,15,529.26 crore on Wednesday, compared with Rs 4,08,185.06 crore in the previous session.

Axis Bank on Monday reported a 4 percent increase in net profit to Rs 7,010.65 crore for the December quarter, compared with Rs 6,742.99 crore in the year-ago period. On a standalone basis, profit rose to Rs 6,489.57 crore from Rs 6,303.77 crore a year earlier.

The lender’s net interest income grew 5 percent to Rs 14,287 crore, supported by a 14 percent rise in loans, though net interest margin declined by 29 basis points to 3.64 percent.

Chief Executive Officer and Managing Director Amitabh Chaudhry said the bank’s ambition remains unchanged and it aims to outpace system growth in a sustainable manner.

The gross non-performing assets ratio improved to 1.40 percent from 1.46 percent in the preceding quarter. Provisions increased to Rs 2,245.92 crore from Rs 2,155.63 crore in the year-ago period.

The sharp rise in the Axix Bank shares also led to a rub-off effect as the Bank Nifty advanced to a high of 59,659.15. Yes Bank and HDFC Bank were among the other top two gainers, rising up to 2 percent.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Hindustan Zinc shares fell over 3% after Vedanta announced a stake sale via OFS, Vedanta to sell 1.59% stake in Hindustan Zinc at Rs 685/share, raising Rs 4,589 crore, Silver prices surged, pushing silver ETFs to fresh lifetime highs

* Hindustan Zinc shares fell over 3% after Vedanta announced a stake sale via OFS
* Vedanta to sell 1.59% stake in Hindustan Zinc at Rs 685/share, raising Rs 4,589 crore
* Silver prices surged, pushing silver ETFs to fresh lifetime highs

Hindustan Zinc shares fell over 3% after promoter Vedanta announced plans to sell a 1.59% stake via an offer for sale at a 6% discount. Meanwhile, silver prices surged, pushing silver ETFs to new lifetime highs. Vedanta shares rose over 4%.

shorts/business/silver-etfs-surge-as-precious-metal-rises-6-but-hindustan-zinc-shares-fall-3-here-s-why

* Hindustan Zinc shares fell over 3% after Vedanta announced a stake sale via OFS
* Vedanta to sell 1.59% stake in Hindustan Zinc at Rs 685/share, raising Rs 4,589 crore
* Silver prices surged, pushing silver ETFs to fresh lifetime highs

The shares of Hindustan Zinc dropped more than 3 percent on January 28 even as silver prices surges, pushing silver ETFs to fresh lifetime highs.

The shares of the Vedanta Group-company dropped to Rs 705.10 apiece in the early trading hours of Wednesday, snapping a two-session gaining streak.
<h3><strong>Why are Hindustan Zinc shares falling today?</strong></h3>
<a href="https://www.moneycontrol.com/india/stockpricequote/metals-non-ferrous/hindustanzinc/HZ">Hindustan Zinc</a> shares are falling today after promoter Vedanta announced announced that its committee of directors has approved the plan to sell up to 6.7 crore equity shares, representing 1.59 percent stake in Hindustan Zinc, through an offer for sale (OFS).

The floor price for the OFS has been set at Rs 685 apiece, marking a 6 percent discount from yesterday's closing price. At the said floor price, Vedanta will raise Rs 4,589.50 crore through the sale of the shares.

The <a href="https://www.moneycontrol.com/news/business/markets/vedanta-to-sell-up-to-1-6-stake-in-hindustan-zinc-via-ofs-13792778.html">OFS will open</a> for non-retail investors on January 28, and for retail investors on January 29. Vedanta has sold portions of its stake in Hindustan Zinc twice in the past two years to help shore up its balance sheet.

According to data on Hindustan Zinc’s latest shareholding pattern, promoter Vedanta held 61.84 percent stake in the company, as on December 31 last year. After the stake sale, the holding company’s stake holding will likely reduce to 60.25 percent.

The central government meanwhile owned 27.92 percent stake in the silver producer at the end of the October-December quarter of the ongoing financial year 2026.

<a href="https://www.moneycontrol.com/india/stockpricequote/miningminerals/vedanta/SG">Vedanta</a> shares meanwhile surged more than 4 percent to trade at Rs 735 apiece, as seen at 10.30 am.
<h3><strong>Silver prices surge, silver ETFs hit fresh lifetime highs:</strong></h3>
Silver futures with March expiry jumped nearly 6.5 percent to hit a fresh lifetime high of Rs 3,79,400 per kilogram on Wednesday. The future contracts with May and July expiries meanwhile jumped nearly 6 percent to hit new all-time highs of Rs 3,95,000 per kg and Rs 4,11,451 per kg, respectively.

Silver exchange traded funds (ETFs) continued to mirror the sharp surge in silver prices and hit fresh lifetime highs on January 28.

<a href="https://www.moneycontrol.com/india/stockpricequote/etf/adityabirlasunlifesilveretf/ABS04">Aditya Birla Sun Life Silver ETF</a> jumped nearly 6 percent to hit a fresh lifetime high of Rs 352 apiece. Motilal Oswal Silver ETF, <a href="https://www.moneycontrol.com/india/stockpricequote/etf/iciciprudentialsilveretf/IPS02">ICICI Prudential Silver ETF</a>, Axis Silver ETF, Nippon Silver ETF and <a href="https://www.moneycontrol.com/india/stockpricequote/etf/growwsilveretf/GROWW75682">Groww Silver ETF</a> meanwhile gained more than 5 percent each to their respective highs.

Mirae Asset Silver ETF, SBI Silver ETF, Zerodha Silver ETF, DSP Silver ETF and few others gained nearly 5 percent each, while UTI Silver ETF, HDFC Silver ETF, 360 ONE Silver ETF, Tata Silver ETF and Edelweiss Silver ETF gained more than 4 percent each.

Follow all <a href="https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-gift-nifty-indicates-a-firm-start-us-asian-markets-mixed-2-liveblog-13793449.html">LIVE updates</a> from the stock markets here.

<em>Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.</em>

Silver ETFs surge as precious metal rises 6%, but Hindustan Zinc shares fall 3%: Here's why

The shares of Hindustan Zinc dropped more than 3 percent on January 28 even as silver prices surges, pushing silver ETFs to fresh lifetime highs.

The shares of the Vedanta Group-company dropped to Rs 705.10 apiece in the early trading hours of Wednesday, snapping a two-session gaining streak.
Why are Hindustan Zinc shares falling today?
Hindustan Zinc shares are falling today after promoter Vedanta announced announced that its committee of directors has approved the plan to sell up to 6.7 crore equity shares, representing 1.59 percent stake in Hindustan Zinc, through an offer for sale (OFS).

The floor price for the OFS has been set at Rs 685 apiece, marking a 6 percent discount from yesterday's closing price. At the said floor price, Vedanta will raise Rs 4,589.50 crore through the sale of the shares.

The OFS will open for non-retail investors on January 28, and for retail investors on January 29. Vedanta has sold portions of its stake in Hindustan Zinc twice in the past two years to help shore up its balance sheet.

According to data on Hindustan Zinc’s latest shareholding pattern, promoter Vedanta held 61.84 percent stake in the company, as on December 31 last year. After the stake sale, the holding company’s stake holding will likely reduce to 60.25 percent.

The central government meanwhile owned 27.92 percent stake in the silver producer at the end of the October-December quarter of the ongoing financial year 2026.

Vedanta shares meanwhile surged more than 4 percent to trade at Rs 735 apiece, as seen at 10.30 am.
Silver prices surge, silver ETFs hit fresh lifetime highs:
Silver futures with March expiry jumped nearly 6.5 percent to hit a fresh lifetime high of Rs 3,79,400 per kilogram on Wednesday. The future contracts with May and July expiries meanwhile jumped nearly 6 percent to hit new all-time highs of Rs 3,95,000 per kg and Rs 4,11,451 per kg, respectively.

Silver exchange traded funds (ETFs) continued to mirror the sharp surge in silver prices and hit fresh lifetime highs on January 28.

Aditya Birla Sun Life Silver ETF jumped nearly 6 percent to hit a fresh lifetime high of Rs 352 apiece. Motilal Oswal Silver ETF, ICICI Prudential Silver ETF, Axis Silver ETF, Nippon Silver ETF and Groww Silver ETF meanwhile gained more than 5 percent each to their respective highs.

Mirae Asset Silver ETF, SBI Silver ETF, Zerodha Silver ETF, DSP Silver ETF and few others gained nearly 5 percent each, while UTI Silver ETF, HDFC Silver ETF, 360 ONE Silver ETF, Tata Silver ETF and Edelweiss Silver ETF gained more than 4 percent each.

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