On the first day of subscriptions on Wednesday, 73% of the shares of Rishabh Instruments' Initial Public Offering (IPO), a provider of worldwide energy efficiency solutions, were subscribed The IPO received bids for 56,75,008 shares against 77,90,202 shares on offer, as per the NSE data. The category for Non-Institutional Investors (NIIs) was subscribed 1.24 times, [...]
The most valued fintech business in India, operating profit is anticipated by 2025, a top official of the company said on Wednesday. PhonePe founder and CEO Sameer Nigam told PTI that the company's payment, advertising, banking and insurance businesses will reach breakeven by the time the company becomes operationally profitable at the group level. While [...]
In an open market transaction Japanese conglomerate Softbank on Wednesday sold a 1.16 per cent stake in online food ordering company Zomato for Rs 947 crore. Softbank through its affiliate SVF Growth (Singapore) Pte offloaded the shares of Zomato on the National Stock Exchange. Aditya Birla Sun Life Mutual Fund (MF), Axis MF, Franklin Tempelton [...]
On Wednesday, the government said that it has approved the export of 1.43 lakh tonnes of non-basmati white rice to Singapore, Mauritius, and Bhutan. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) said in a notification. Although non-basmati white rice exports were prohibited on July 20 [...]
In open market transactions on Wednesday, four entities sold shares of the NBFC company Spandana Sphoorty Financial for Rs 268 crore. Valiant Mauritius Partners FDI, Valiant India Opportunities, Valiant Mauritius Partners and Valiant Mauritius Partners Offshore were the entities that sold the shares of Spandana Sphoorty Financial on the BSE. According to BSE Bulk Deal [...]
Share price of this 5 star luxury hotel company surged nearly 19.5%. The hotel will be hosting Saudi Arabian delegates coming for the G20 summit 2023. The share prices of HLV Limited opened at Rs. 13.65 per share and gained a total of 18.45% to reach its 52- week high of Rs. 16.25 per piece. [...]
The IPO-bound Honasa Consumer Ltd., which owns new-age FMCG brands like Mamaearth and The Derma Co., anticipates raising Rs 400 crore from listing and plans to use the money primarily for offline expansion, bringing more brands to market, and acquisitions, its Co-founder and CEO Varun Alagh said. In addition to scaling its other brands like [...]
On Thursday, shares of Aeroflex Industries were listed on the exchanges at a significant premium of 83% over their issue price of Rs 108. The stock listed at Rs 197.40, reflecting a steep jump of 82.8 per cent on the BSE. On the NSE, the scrip made its debut at Rs 190, witnessing a sharp [...]
A 28.12-megawatt green energy facility will be built in Maharashtra through a partnership between Tata Power Renewable Energy Limited (TPREL) and Sanyo Special Steel Manufacturing India Private Limited (SSMI). In a statement on Thursday, TPREL, an arm of Tata Power, said it has signed the Power Delivery Agreement (PDA) with SSMI through its Special Purpose [...]
Shares of this small cap company traded 13% higher on Thursday's first half after their annual figures came to sight the previous day. The share prices of Alok Industries opened at Rs. 18 levels and gained nearly 13% to reach its intra- day high of Rs. 20.10. The stock has returned 22.26% and 42.8% in [...]
A mid-cap pharma company recently fixed the record date for a 1:2 stock split. At 12:00 PM on Thursday, its shares were trading at ₹ 2762.25 apiece on the National Stock Exchange (NSE), as compared to its previous day’s closing price of ₹ 2746.20. J.B. Chemicals and Pharmaceuticals is among India's leading pharmaceutical companies. It [...]
Mi is a smartphone trailblazer in a world of innovation and limitless possibilities. With its arsenal of cutting-edge features and an unwavering dedication to user satisfaction, Mi has captured the admiration of tech enthusiasts across the globe. Among the revolutionary attributes, one standout gem is Glance for Mi smartphones. This feature has redefined the landscape [...]
In early trade on Thursday, Shares of a leading manufacturer of engineering equipment jumped 5.5 percent to Rs 2,425 after the company received a Defence Industrial Licence. At 12:15 p.m. on the National Stock Exchange, MTAR Technologies Ltd shares were trading at Rs 2,403.90 per share, up Rs 110.15 or 4.80 percent from the previous [...]
This stock was listed in November 2022 and is included in the S&P BSE Smallcap Index. It rose 6% on Thursday within the first hour of markets opening. It currently has a market cap of Rs. 3220 crore and saw higher than monthly average volumes this week, on average by 100%. The stock is trading [...]
The Indian chemical industry contributes about 7 percent to India’s GDP, according to a report by IBEF. It covers more than 80,000 commercial products and is broadly classified into bulk chemicals, speciality chemicals, agrochemicals, petrochemicals, polymers, and fertilisers. India's chemical sector was estimated to be worth US$ 220 billion in 2022 and is anticipated to [...]
Shares of the Adani Group fell on Thursday after a report from the investigative reporting platform OCCRP claimed that partners of the promoter family of billionaire Gautam Adani invested hundreds of millions of dollars through Mauritius-based "opaque" investment funds in publicly traded group stocks. However, the conglomerate denied the charges vehemently. On the BSE, the [...]
Societe Generale is one of the leading European financial services groups. Based on a diversified and integrated banking model, it provides International Retail Banking, Insurance and Financial Services, Global Banking, and Investor Solutions. As per corporate shareholdings filed for June 30, 2023, Societe Generale publicly holds 14 stocks with a net worth of over Rs. [...]
The capital markets regulator Sebi has given the TPG Capital-backed wires and cable producer RR Kabel Ltd the green light to seek money through an Initial Public Offering (IPO). According to the Draft Red Herring Prospectus (DRHP), the IPO consists of a new issue of equity shares with a maximum value of Rs 225 crore [...]
Pharmaceutical giant Lupin Ltd. announced on Tuesday that the US health agency had given the go-ahead for the marketing of its generic Pirfenidone capsules, which are used to treat the lung condition known as idiopathic pulmonary fibrosis. The approval granted by the US Food and Drug Administration (USFDA) is for the abbreviated new drug application [...]
To achieve zero carbon emissions by 2038, the state-owned Oil and Natural Gas Corporation (ONGC) will invest roughly Rs 2 lakh crore, its chairman Arun Kumar Singh said on Tuesday. The firm will invest Rs 1 lakh crore by 2030 in setting up 10 gigawatts of renewable energy capacity, green ammonia plant, and offshore wind [...]
