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Inflow in equity mutual fund halves to Rs 3,240 crore in May on profit booking
Debt funds saw a net infusion of nearly Rs 46,000 crore, which was more than halved from Rs 1.06 lakh crore inflow seen in April.
2023-06-09T15:04:05+05:30
Should I invest in Quant Small Cap Fund?
If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-06-09T09:22:32+05:30
​Are arbitrage funds the best short-term investment option?​
Arbitrage funds have relatively less risk and tax advantages.​
2023-06-09T08:54:16+05:30
Sebi allows mutual funds to invest in repo transactions on commercial papers, certificate of deposits
In repo transactions, also known as a repo or sale repurchase agreement, securities are sold with the seller agreeing to buy them back at a later date. The instrument is used for raising short-term capital.
2023-06-09T06:51:19+05:30
Samco Mutual Fund launches SAMCO Active Momentum Fund
The fund manager for SAMCO Active Momentum Fund is Paras Matalia, a seasoned investment professional with a deep understanding of momentum-based strategies. With his expertise and experience, Matalia will oversee the fund's investment decisions and work towards maximizing returns for investors.
2023-06-08T14:40:50+05:30
Mutual fund managers decode RBI policy for investors
“The Reserve Bank of India maintained status quo on Policy rates as expected and confirmed the expectations of a long pause with a slightly hawkish undertone as it retained the Monetary Policy stance at “Withdrawal of accommodation to ensure that Inflation progressively aligns with the target, while supporting growth,†says Puneet Pal, Head-Fixed Income, PGIM India Mutual Fund.
2023-06-08T14:28:55+05:30
​RBI pauses: your best mutual fund options
2023-06-08T13:54:47+05:30
RBI holds repo rate again: what should mutual fund investors do?
Most money market pundits expected the RBI to hold rates today as the inflationary and growth scenarios were positive. What does it mean to mutual fund investors, especially debt fund investors?
2023-06-08T10:38:52+05:30
Time to stagger investments in Nifty 50 as index trends above its fair value
Since its lows of March 23, 2021, the Nifty PE has risen from 18.49 and now stands at 21.70. In the same period, its price to book value rose sharply from 2.34 to 4.9 and dividend yield fell from 2 to 1.45. During this period, the Nifty returned 125.8%
2023-06-08T06:05:34+05:30
D-Street indices hit new 2023 highs; mid- & small-caps scale fresh peaks
The Sensex closed at 63,142.96, up 350.08 points, or 0.56%, from Tuesday's close. The Nifty advanced 127.40 points, or 0.68%, to settle at 18,726.40. Both indices are now within 1% of their respective all-time highs recorded on December 1 last year.
2023-06-08T05:34:36+05:30
Am I investing in the right mutual funds?
If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-06-07T13:56:01+05:30
Edelweiss Multi Asset Allocation Fund: should you invest in NFO?
should you invest in NFO?
2023-06-07T10:30:38+05:30
Are Systematic Withdrawal Plans tax efficient?
Investors generally use the growth option of an equity-oriented or hybrid scheme to start an SWP. Financial planners advise investors to avoid narrow thematic and sectoral funds.
2023-06-07T08:39:22+05:30
IT index records worst fall in 2 months
EPAM cut its sales growth guidance for 2023 by an unexpected 500 basis points citing a slowdown in discretionary spending. The company now sees its revenues lower by 2% on a year-on-year basis, compared to its earlier guidance of a 3% growth.
2023-06-07T05:36:55+05:30
​Best large cap mutual funds to create wealth
​Large cap mutual funds are ideal for conservative investors
2023-06-06T14:03:11+05:30
Bajaj Finserv Mutual Fund launched
Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv, said, “We are committed to being a full-stack financial solutions provider to meet India’s growing needs and building deeper, long-term relationships with customers who are already invested in us. The launch of asset management helps diversify our retail franchise and leverage Bajaj Finserv companies’ combined strength in financial services across a much larger customer base.â€
2023-06-06T12:32:18+05:30
ICICI Prudential Bluechip Fund completes 15 years
Anish Tawakley, fund manager of the Scheme and Deputy CIO-Equity and Head of Research, ICICI Prudential Asset Management Company, notes, "Over the years, picking high conviction stocks with buy and hold approach in large-cap companies with proven track record, quality management, good growth potential has worked well for the scheme."
2023-06-06T11:23:48+05:30
NFO Watch: Seven new mutual fund offers open this week
Two index funds, a multi asset allocation fund, focused fund, thematic fund, an ETF and ELSS fund are currently open for subscription in the market.
2023-06-06T10:53:21+05:30
Edelweiss Multi Asset Allocation Fund: smart way to enjoy LTCG tax?
The portfolio construction strategy of the scheme will be 45-55% in fixed income, 35-40% in equity arbitrage, and 10-15% in gold and silver arbitrage. The portfolio helps the scheme to qualify for long-term capital gains tax.
2023-06-06T10:40:08+05:30
Rate hikes are reasonably off the table for the moment: R Sivakumar
The RBI certainly seems to be on a pause mode. And in fact, global central banks also, especially the US Federal Reserve, also seems to be indicating that they would pause soon.
2023-06-06T08:01:00+05:30
Edelweiss Mutual Fund launches Edelweiss Multi Asset Allocation Fund
The performance of the scheme will be benchmarked against Nifty 500 TRI (40%) + Nifty 5 year Benchmark G-Sec Index (50%) + Domestic Gold Prices (5%) + Domestic Silver Prices (5%). The scheme will be managed by Bhavesh Jain and Bharat Lahoti (Equity), Dhawal Dalal (Debt), Amit Vora (Overseas), and Ashish Sood (Commodities).
2023-06-05T13:18:35+05:30
​Best mutual funds to make ‘great’ returns in 2023
​Mutual fund investors are always looking for great returns
2023-06-05T11:39:39+05:30
Asset base of ESG-focussed funds drops by Rs 2,020 cr in FY23
Kaustubh Belapurkar, Director - Manager Research, Morningstar India, also believes that investors' interest in ESG funds will increase on growing awareness towards such funds in coming years.
2023-06-05T08:35:52+05:30
Gold up 8% in 5 months, silver has delivered close to 5%; how to use them to your advantage
Inflation has been tamed but is still above the comfort zone of the RBI. The Ukraine crisis remains unresolved. In the US, though the debt ceiling deal has averted a default catastrophe, analysts say a recession appears imminent. These factors are likely to keep gold and silver prices buoyant in the coming months.
2023-06-05T06:30:00+05:30
Canara Robeco Small Cap Fund: Fund review
We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.
2023-06-05T06:30:00+05:30
MPC meeting: RBI may hit rate pause button again this week
According to an ET poll with 16 respondents, the six-member rate-setting panel is seen maintaining the benchmark policy repo rate at 6.50% during the June 6-8 meeting, marking the second consecutive instance of it holding off on policy tightening. The respondents were unanimous in their expectation.
2023-06-05T05:56:27+05:30
​Neil Parikh, CEO of PPFAS Mutual, shares his future plans
​PPFAS Mutual Fund completed 10 years in May. In an interview Neil Parikh shared his plans for the fund house.
2023-06-02T14:58:37+05:30
Use current consolidation to accumulate gold: Quantum Mutual Fund
Gold prices started May on a high with the background of pain in the US banking sector leading to global risk aversion, the report said. The Fed policy at the start of the month where the Fed chair hinted at flexibility and a meeting-by-meeting approach was considered dovish by markets. This also supported the prices.
2023-06-02T11:58:59+05:30
Investors with a five-year horizon can expect decent returns from small caps: Sahil Shah of Edelweiss MF
"Smallcap valuations are attractive compared with larger peers. Smallcap Index is trading at a discount to largecap index. It was trading at a premium to the largecap index during the euphoria of 2007 and 2017. People who invested in smallcap stocks back then suffered losses or accrued sub-par returns. The current valuations of small-caps seem reasonable," says Sahil Shah of Edelweiss MF.
2023-06-02T09:49:47+05:30
Sensex at 100,000 does not look unimaginable, see it going beyond it: Nilesh Shah
​In about 20 years, these six states have reached where India was yesterday. Now, if all of us continue to work in similar fashion for next 20 years, these six states will create today's five India.
2023-06-02T08:00:00+05:30
Underperforming Nifty Next 50 offers a good entry point
Wealth managers believe the Nifty Next 50 represents the next rung of liquid securities after the Nifty 50 and recommend an allocation to this index for equity investors. The Nifty Next 50 trades at a one-year forward price-earnings ratio of 28, compared with its five-year average of 28.93, making valuations reasonable.
2023-06-02T07:56:48+05:30
Sebi gives more time for comments on proposal on mechanism for AMCs to detect market abuse
The markets regulator, in its consultation paper issued last month, proposed that AMCs should put in place robust surveillance systems and internal control procedures, to deter possible misconduct by employees or other entities which may have information relating to fund management or investments of mutual fund schemes.
2023-06-01T16:09:19+05:30
Sebi extends time to submit public comments on proposal on expenses charged to mutual fund investors
Sebi had placed a consultation paper on the review of the total expense ratio (TER) charged by AMCS to unitholders of fund schemes on May 18 and sought comments till June 1 on the proposal.
2023-06-01T16:03:09+05:30
Is it the right time to invest in Nippon India Small Cap Fund?
If you have any mutual fund queries, message us on ET Mutual Funds on Facebook. We will get it answered by our panel of experts.
2023-06-01T12:13:17+05:30
​Gold funds offer 16% in one year. Should you invest?
2023-06-01T11:27:57+05:30
RBI likely to hold interest rates, says Pankaj Pathak of Quantum Mutual Fund
This policy decision should not have any material impact on the bond market though there could be minor fluctuation in yields depending on policy stance and language.
2023-06-01T09:05:10+05:30
​These risky schemes can make you rich
​These schemes have high risk. But they also have potential to offer higher returns.
2023-05-31T14:08:06+05:30
4 sectors Taher Badshah is bullish on for near term
​So, one problem is in a way out of the way and alongside which we have also seen actually interest rates presumably going into a bit of a pause mode as far as we can understand and which is again a little better than our expectations because that was supposed to come about more in the second half of the year which basically means that PE multiple decline from year essentially is arrested and that problem at one level is out of the way.
2023-05-31T12:04:46+05:30
64% equity schemes underperformed their benchmarks in five years
Out of 167 equity schemes that have completed five years in the market, 107 schemes failed to beat their respective benchmarks. These 107 schemes were from across the categories such as contra fund, ELSS, flexi cap, focused fund, large & mid cap, large cap, mid cap, small cap, and value fund.
2023-05-31T11:13:07+05:30
Why should you add international funds to your portfolio?
Wealth managers recommend investors put some money in international funds to geographically diversify their equity portfolios, hedge currency risks, and gain exposure to companies in cutting-edge technology areas that are not available in India
2023-05-31T09:13:48+05:30
Follow ethical practices, be transparent, Sebi chief to MFs
The Sebi chief said mutual funds are an important vehicle to encourage investors to participate in the markets. Buch expressed confidence in the industry's potential and said its asset size could grow from the current ₹40 lakh crore to ₹100 lakh crore.
2023-05-31T05:49:18+05:30
Best mutual funds to invest for three years
Are you looking to invest for three years?
2023-05-30T14:10:27+05:30
15 small cap schemes offer over 40% returns in three years on lumpsum investments
A lumpsum investment made on May 24, 2020 of Rs 10,000 in these 15 small cap schemes would have grown between Rs 27,450 to Rs 43,833 in the three-year period.
2023-05-30T11:12:19+05:30
NFO Watch: 10 new mutual fund offers open this week
Four index funds, a fixed maturity plan, value fund, thematic fund, focused fund, an ETF, and ELSS fund are currently open for subscription in the market. Should you invest in these new fund offers to maximize the returns from your mutual fund portfolio?
2023-05-30T10:31:17+05:30
Mutual funds shy away from AT-1 bonds amid tighter rules
Data provided by CRISIL Market Intelligence and Analytics to ET showed that MF investments in AT-1 bonds crashed to ₹5,382 crore in April 2023, from ₹25,057 crore in January 2020.
2023-05-30T07:52:59+05:30
Sensex rises to 6-month high, briefly scales 63K
Benchmark indices rose to their highest level in nearly six months led by the financials, with the Sensex briefly surpassing the 63,000-mark before trimming some of its gains.
2023-05-30T05:42:07+05:30
‘Sebi fee review to make a big dent in MFs’ profits’
The Securities and Exchange Board of India (SEBI) may negatively impact India's mutual fund sector with its proposal to review total expense ratio (TER) regulations, according to brokerage Nuvama. The sector's net profitability could fall by up to 27% from listing asset managers' 2024-25 net operating profits due to changes potentially increasing annual fees to include items such as securities transaction tax (STT) and brokerage.
2023-05-29T22:00:34+05:30
​Best mutual funds for new investors ​
​New investors are confused about which mutual funds to start investing in to create wealth.​
2023-05-29T13:13:11+05:30
ITI Mutual Fund launches ITI Focused Equity Fund
ITI Focused Equity Fund will be benchmarked against Nifty 500 Total Return Index. The fund will be jointly managed by Dhimant Shah and Rohan Korde.
2023-05-29T11:11:05+05:30
Mirae Asset Mutual Fund launches Mirae Asset Silver ETF
Siddharth Srivastava, Head - ETF Product, Mirae Asset Mutual Fund said, “Silver is widely considered to be a relatively in times of economy turmoil and a good hedge against dollar, just like gold. In addition to these factors, silver price has found support from its growing use in industrial settings, which now accounts for roughly half of the silver annual demand. These factors make silver a very compelling asset to be included in an investor’s portfolio either from a long-term point of view or for tactical allocation based on various technical indicators.â€
2023-05-29T11:05:38+05:30
Ola Electric to kick off investor meet on IPO plans: Report
Indian electric scooter maker Ola Electric is kicking off meetings with potential investors in Singapore and the US to gauge interest in its planned $1bn initial public offering. The fundraising drive, expected in late 2023, will target $600m to $1bn. CEO Bhavish Aggarwal will hold talks including with BlackRock, Singapore's GIC, and T Rowe Price. Though Ola is yet to file regulatory papers for approval, it is thought to be planning to do so by August. It wants to explain the growth and potential of India's nascent electric vehicle market to investors.
2023-06-09T20:49:42+05:30
Logistics company Western Carriers files draft papers with Sebi for IPO
Western Carriers, a logistics service provider with over 50 years of experience, has filed draft papers for an initial public offering (IPO) to raise funds through a fresh equity issue of up to Rs 500 crore and an offer for sale of 93.28 lakh shares by the promoter. The company operates on an asset-light business model and provides 3PL and 4PL logistic solutions. It had over 1,100 clients in sectors such as metals and mining, FMCG, pharmaceuticals, among others. The IPO funds will be used for prepaying a portion of certain outstanding borrowings and funding capital expenditure requirements.
2023-06-09T15:55:42+05:30
HMA Agro Industries IPO: 10 things to know about the public offer
HMA Agro Industries, a leading exporter of frozen buffalo meat in India, is set to launch its Rs 480 crore ($72m) initial share sale which opens on 20 June and closes on 23 June. The public offer comprises a fresh issue of equity shares up to Rs 150 crore and an offer for sale of Rs 330 crore by promoters and selling shareholders. The price band for the public offer has been set at Rs 555-585 per equity share, the upper end of which values the company at Rs 2,929 crore.
2023-06-09T15:38:25+05:30
IKIO Lighting IPO: GMP signals listing gains for investors after robust subscription
IKIO Lighting, which had an initial public offering (IPO) worth Rs 607 crore ($81.2 million), has received a healthy response from investors. The IPO was subscribed 397 times with bids for 100,92,76,892 shares against 1,52,24,074 shares on offer. The qualified institutional buyers (QIBs) category was subscribed 163.58 times, accompanied by non-institutional investors with 63.35 times, and the retail investors' quota recording a 13.86 times subscription. The net proceeds from the public offering will be used to repay borrowings, invest in its subsidiary, IKIO Solutions, and other corporate purposes.
2023-06-09T15:03:36+05:30
Ikio Lighting IPO subscribed 66 times
The portion reserved for qualified institutional investors was subscribed 164 times, while the portion for non-institutional investors, or high-net-worth individuals, was subscribed 63 times. The retail portion was subscribed 14 times.
2023-06-09T05:55:40+05:30
Urban Enviro Waste Management to launch IPO on June 12
Urban Enviro Waste Management, the waste handling and management services provider, has announced an Initial Public Offering (IPO) to raise INR11.42 crore ($1.6m). The sale opens on 12 June and closes on 14 June with shares due to be listed on NSE EMERGE, a platform for small and medium-sized enterprises. The sale consists of a fresh issue of 920,000 equity shares with a face value of INR10 each, aggregating to INR9.2 crore; and an offer for sale component of 222,000 equity shares. The net proceeds will be used for repaying certain secured borrowings, and other purposes.
2023-06-08T15:52:53+05:30
Valiant Laboratories files draft papers with Sebi to mop-up funds via IPO
Valiant Laboratories is an Active Pharmaceutical Ingredient (API) or bulk drug manufacturing company with its focus on manufacturing Paracetamol, which is used in the treatment of headache, muscle ache, arthritis, back ache, toothache, cold and fever.
2023-06-08T15:47:17+05:30
SME IPO Tracker: Infollion Research Services more than doubles investors' wealth on listing day
Infollion Research Services stocks made an exceptional debut on NSE Emerge platform with shares listed at Rs 209, a premium of 155% as compared to its issue price of Rs 82. The shares then fell by 13% to Rs 198.55. The public offer of the company was subscribed 279 times at close, with non-institutional investors contributing 560 times bids and retail investors' portion subscribed 264 times. The company will use the raised funds for expanding its current service line in the US and Western European region, adding categories of freelancer and technology development.
2023-06-08T15:16:28+05:30
HMA Agro Industries IPO to open on June 20; price band fixed
HMA Agro Industries' initial public offering (IPO) worth INR 480 crore ($63.5m) will be open for public subscription from 20-23 June with a price band of INR 555-585 per share. The IPO includes an offer for sale of INR 330 crore by promoters and selling shareholders. Aryaman Financial Services is the book-running lead manager to the issue and Bigshare Services is the registrar. HMA Agro Industries proposes to utilise the net proceeds of the fresh issue for working capital requirements and general corporate purposes.
2023-06-08T14:12:26+05:30
IKIO Lighting IPO: Issue subscribed 67 times on last day of bidding process
IKIO Lighting's Rs 607 crore initial public offering (IPO) has been oversubscribed 11.46 times on strong demand from non-institutional investors. The company has set a price band of Rs 270-285 per equity share with a minimum bid of 52 shares. The issue comprises a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The grey market premium of the company has been on an upward trend and its shares are commanding a premium of Rs 118 in the unlisted market.
2023-06-08T13:29:30+05:30
IKIO Lighting IPO: Issue subscribed 6.83 times so far on Day 2; GMP rises further
The IPO of IKIO Lighting, which closes on June 8, has been subscribed 6.83 times so far, with non-institutional investors leading the heavy bidding. The company's shares are commanding a premium of Rs 118 in the grey market, with listing gains looking increasingly likely.
2023-06-07T14:40:20+05:30
Valiant Laboratories files IPO papers
Valiant Laboratories Ltd, the subsidiary of Valiant Organics said it has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with stock market regulator Sebi.
2023-06-07T13:16:53+05:30
Tata Technologies IPO: When to expect and what its unlisted price is indicating?
Tata Technologies, a unit of Tata Motors, is expected to list its IPO in five to six months. In the unlisted market, shares are trading at around Rs 850. Analysts expect the stock to list at a premium and currently predict a bump of between 20% and 30%.
2023-06-06T18:30:25+05:30
Spectrum Talent Management IPO to open on Jun 9; to list on NSE Emerge
The price band for the issue has been set at Rs 169 to Rs 173 per share, and the IPO size is estimated to be about Rs 105.14 crore at the upper price band. Proceeds from the IPO will be utilised to support the company's working capital requirements, acquisitions of businesses in similar or complementary areas, general corporate purposes and meeting its issue expenses.
2023-06-06T18:03:58+05:30
IKIO Lighting IPO sails through on Day 1 on HNI, retail push
The issue, which closes on June 8, comprises a fresh equity issue of up to Rs 350 crore and an offer for sale (OFS) of up to 90 lakh shares. The company has set a price band of Rs 270-285 per unit and investors can bid for a minimum of 52 shares in one lot and multiples thereafter. At the upper end, the company plans to raise about Rs 607 crore.
2023-06-06T13:58:01+05:30
IKIO Lighting IPO opens for subscription. Should you bid?
IKIO Lighting designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands. The company is largely into manufacturing premium products. Its products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and others.
2023-06-06T09:33:11+05:30
Ikio Lighting raises Rs 182 cr from anchors
The company informed the bourses that it allocated 63.8 million shares at ₹285 per share on Monday to anchor investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs AMC, Malabar India Fund, Mirae Asset Global, among others. The company has fixed the price band for the public issue at ₹270 to ₹285 per share.
2023-06-06T06:13:52+05:30
Canara Bank starts process to sell non-core assets via IPOs
The public sector bank, which wants to monetise its non-core assets, held consultations with investment bankers recently to carry out the proposed stake sale, said the people aware of the developments.
2023-06-06T05:53:53+05:30
SME IPO: Hemant Surgicals turns multibagger on listing day with 100% gain
Hemant Surgicals made a strong debut on the BSE SME platform with its shares being listed at a 90% premium over its issue price of Rs 90. The stock closed at Rs 179.55, a nearly 100% increase over the offer price. The company's Rs 24.8 crore public offer was oversubscribed by 139 times.
2023-06-05T23:50:08+05:30
SME IPO tracker: IT company Vinsys files draft papers for listing on NSE Emerge
Pune-based IT services firm Vinsys IT plans to use the book-building process to float 3.89 million equity shares of Rs 10 each, and will appoint merchant bankers to the issue.
2023-06-05T23:37:16+05:30
SME IPO: Sonalis Consumer Products public issue opens on June 7. Here are 10 things to know
Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.
2023-06-05T16:06:39+05:30
IKIO Lighting IPO: GMP shoots up ahead of subscription on Tuesday
Noida-based company IKIO Lighting's Rs 607 crore initial public offering (IPO) will open for subscription on 1 June and close on 8 June. The company's stock is commanding a premium of Rs 92-94 in the unlisted market, indicating the demand for the shares, according to market sources. Grey market premiums are subject to change. The IPO consists of a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The net proceeds will go towards general corporate purposes, investment in subsidiary IKIO Solutions, repaying borrowings, and setting up a new facility in Noida.
2023-06-05T15:15:09+05:30
BYJU'S Aakash to launch IPO next year
BYJU'S, the leading edtech company, will launch the Initial Public Offering (IPO) for its subsidiary Aakash Education Services by mid-next year. AESL is expected to earn revenue of Rs 4,000 crores with operational profits of Rs 900 crores in FY23-24. The IPO will provide significant capital infusion to enhance Aakash's infrastructure and reach, extending high-quality test-prep education to a larger number of students.
2023-06-05T13:39:28+05:30
Ikio Lighting's core strengths, growth drivers offer a good long-term play
Long-term investors may consider the IPO given the consistent growth in its contract manufacturing for Signify India (erstwhile Philips India) driven by new product development, strong position in customised lighting solutions in the growing segment of branded retail stores, superior operating margin than its peers, and emerging growth opportunities from exports by supplying lighting products for recreational vehicles in the US.
2023-06-05T06:25:07+05:30
Nuvama exits its first pre-IPO fund; invests in Ozone Overseas
Nuvama PE is currently investing from its third late-stage/pre-IPO fund under the Crossover Opportunities banner. This fund has so far raised ₹3,800 crore. The latest crossover fund has invested in companies such as Ola Electric and DailyHunt.
2023-06-05T05:56:16+05:30
IKIO Lighting and Sonalis Consumer Products IPO will open for subscription this week; check details
IKIO Lighting has set a price band of Rs 270-285 per equity share for its upcoming IPO. The Noida-based company has reserved 50% of the offering for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The IPO comprises a fresh equity issue of up to Rs 350 crore and offer for sale of up to 90 lakh shares by selling shareholders. Meanwhile, Sonalis Consumer Products is set to launch an SME IPO on June 7 with a fixed price of Rs 30 per equity share.
2023-06-04T14:44:12+05:30
SME IPO: Kore Digital issue opens for subscription. 8 key things to know
Maharashtra-based passive telecom infrastructure provider, Kore Digital's initial share sale opened on Friday with a price band of INR 180. This IPO is a fresh issue of up to 10 lakh equity shares of face value INR 10 each, aiming to raise around INR 18 crore. The net proceeds will be used to meet working capital requirements, investment in strategic acquisition, and other general corporate expenses. The allotment will be on June 12th and the shares will be listed on NSE Emerge on June 15th.
2023-06-02T21:08:16+05:30
IKIO Lighting IPO: 10 things to know about the public offer
Indian LED lighting solutions manufacturer IKIO Lighting is launching its initial public offering (IPO) June 6-8, with shares expected to start trading on June 16. The company's shares will likely be listed at between INR270 ($3.81) and INR285 per equity share, with the upper end of that range raising INR607 crore for the company. The IPO will include a fresh equity issue of up to INR350 crore and an offer for sale of up to 9 million shares. The proceeds will be used to repay borrowings, invest in subsidiary IKIO Solutions and for general corporate purposes.
2023-06-02T17:04:58+05:30
IKIO Lighting's Rs 607-crore IPO to open on June 6
Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.
2023-06-02T06:01:12+05:30
IKIO Lighting IPO to open on June 6; price band fixed at Rs 270-285 per share
Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
2023-06-01T13:27:29+05:30
SME IPO tracker: Infollion Research offer subscribed 5.68 times; CFF Fluid Control issue subscribed 54% so far
Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.
2023-05-30T17:30:14+05:30
SME IPO: CFF Fluid Control issue to open for subscription on Tuesday. 10 things to know about the issue
CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.
2023-05-29T16:41:49+05:30
Krishca Strapping Solutions lists at 120% premium
Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.
2023-05-27T07:54:08+05:30
SME IPO: Crayons Advertising subscribed 147 times, listing on June 2
Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.
2023-05-26T17:01:06+05:30
Happy Forgings plans up to Rs 1,200 crore IPO
Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.
2023-05-26T06:11:11+05:30
Ola Electric plans up to $1b IPO at $10b valuation
The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment
2023-05-25T17:47:29+05:30
SME IPO: Infollion Research Services' public issue opens on May 29. Top 10 things to know
Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.
2023-05-25T16:13:04+05:30
Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak: Report
Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.
2023-05-25T14:18:04+05:30
SME IPO tracker: Hemant Surgical Industries issue subscribed 2.45 times; Proventus Agrocom's offer subscribed 4% so far on Day 1
The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.
2023-05-24T17:52:22+05:30
SME IPO Tracker: Vasa Denticity gets muted response on Day 1; Auro Impex and Chemicals sees flat listing
The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.
2023-05-23T19:02:27+05:30
Pune-based IT firm Vinsys completes pre-IPO round at Rs 200 cr valuation
Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.
2023-05-22T16:50:30+05:30
SME IPO: Crayons Advertising public offer fully subscribed within hours of opening on Day 1
Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.
2023-05-22T15:08:51+05:30
ECGC IPO likely to be pushed to next fiscal amid volatility
The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.
2023-05-21T08:16:08+05:30
DRHP filing for IREDA listing likely in 6 months
The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.
2023-05-19T23:17:16+05:30
SME IPO: Hemant Surgical issue to open on May 24. 10 things to know about the offer
Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements
2023-05-19T15:05:38+05:30
Vasa Denticity SME IPO: 10 things to know about the public offer
Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'
2023-05-18T21:41:00+05:30
Nexus Select Trust REIT IPO listing likely on Friday. What to expect
Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.
2023-05-18T15:41:14+05:30
Crayons Advertising SME IPO: 10 things you must know before investing
Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.
2023-05-18T12:46:22+05:30
Manyavar promoters to launch OFS
The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.
2023-05-18T06:49:56+05:30
SME IPO: Remus Pharmaceuticals gets muted response on Day 1. 8 key things to know about the issue
Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from
2023-05-17T21:40:54+05:30
LIC raises stake in SAIL to 8.6%
Life Insurance Corporation of India (LIC) has raised its stake in state-owned steel production firm SAIL by about 2 per cent through an open market acquisition. LIC bought 8.26 crore shares or 2.001 per cent of equity capital at an average price of Rs 66.18 per unit, the insurer said in a regulatory filing
2023-06-09T21:28:57+05:30
Sebi cancels registration of Emkay Commotrade in NSEL case
The Securities and Exchange Board of India (SEBI) has cancelled the registration of Emkay Commotrade for giving access to illegal 'paired contracts' on the defunct National Spot Exchange (NSEL). SEBI said it raised doubts on the company's competency to act as a registered securities market intermediary and that the company cannot be called a 'fit and proper person' for holding the certificate of registration. The NSEL's 'paired contracts' trading scheme saw investors incur a loss of INR 5,500 crore ($736.8m). Emkay's clients must withdraw or transfer their securities or funds within the next 15 days.
2023-06-09T20:54:04+05:30
Ola Electric to kick off investor meet on IPO plans: Report
Indian electric scooter maker Ola Electric is kicking off meetings with potential investors in Singapore and the US to gauge interest in its planned $1bn initial public offering. The fundraising drive, expected in late 2023, will target $600m to $1bn. CEO Bhavish Aggarwal will hold talks including with BlackRock, Singapore's GIC, and T Rowe Price. Though Ola is yet to file regulatory papers for approval, it is thought to be planning to do so by August. It wants to explain the growth and potential of India's nascent electric vehicle market to investors.
2023-06-09T20:49:42+05:30
Tesla jumps as GM deal makes its charging network closer to US standard
Shares of Tesla jumped nearly 7% following a partnership between General Motors (GM) and Ford to use Tesla's electric-vehicle charging network, which could make Tesla Superchargers a new industry standard in the US. This move ensures that the country's EV market can access Tesla's North American Charging Standard (NACS), which presents a big win for the rare partnership, making it the primary network in the country. The tie-up will increase the pressure on other automakers to upgrade their networks to work with Tesla's. Tesla's charging network is more widespread and reliable than the alternative combined charging system.
2023-06-09T20:36:47+05:30
Path Towards Economic Normalcy: Assessing the impact of inflation, central bank policies
Despite global economic activity slowing down, the absence of any significant financial accidents, robust employment conditions, and stronger balance sheets have aided in withstanding the normalisation cycle better than expected. However, the pressure on demand conditions may continue to rise due to higher nominal yield curves and tightened lending standards. Although corporate earnings have surpassed expectations, inflation will likely remain elevated compared to pre-Covid levels. The worst of the inflation scare may be over, but central banks are unlikely to resort to rate cuts unless there is a threat to financial stability. RBI's proactive stance has supported India's growth momentum, but fiscal deficit run rate is 6%, and pre-emptive loosening can backfire, resulting in higher inflation. Thus, rates may remain higher for longer, and short-term funds may provide healthier accruals without taking significant duration risk.
2023-06-09T20:06:29+05:30
10 best tax-saving equity mutual funds with highest returns
Equity-linked saving schemes offer tax benefits under Section 80C of the Income Tax Act. Equity mutual funds have a lock-in period of 3 years and gains are taxed at 15% for less than a year. The top five tax-saving mutual funds on the basis of returns for 3 years are Quant Tax Plan (33.04%), BOI AXA Tax Advantage (23.75%), Mirae Asset Tax Saver Fund (20.04%), Canara Robeco Equity Tax Saver (19.84%), and IDFC Tax Advantage (ELSS) (18.89%). For 5 years, the top five funds are Quant Tax Plan (22.50%), BOI AXA Tax Advantage (18.26%), Mirae Asset Tax Saver Fund (18.22%), Canara Robeco Equity Tax Saver (17.26%), and IDFC Tax Advantage (ELSS) (16.24%).
2023-06-09T19:52:22+05:30
Canada Pension fund sells 1.6% stake in Kotak Mahindra Bank for Rs 6,123 crore
The deal was executed at a weighted average price of Rs 1,855.64 and Canada Pension fund took home Rs 6,123 crore through the stake sale. As of March quarter, Canada Pension fund holds 4.6% stake. With the sale of the latest stake, the holding of Canada Pension fund came down to 3%.
2023-06-09T19:43:38+05:30
Upcoming monsoon critical for broad-based recovery in Indian equities. Which stocks to bet on?
Axis Securities predicts that macroeconomic scenarios will dictate the market in the upcoming months, with rural and domestic-focused themes expected to gain momentum. It has revised the December 2023 Nifty target upwards to 20,200, indicating an upside of 9-10% from the current level. Axis Securities recommended investors maintain liquidity, awaiting the market dips to build a position in quality companies with high earnings visibility. Midcaps are identified as growth sweet spots, while small caps are bottom-up plays. In the year-to-date, both foreign and domestic investors have been net buyers in the Indian equity market.
2023-06-09T19:41:25+05:30
Promoter sells 13.7% in CMS Info Systems via bulk deal; ADIA, Norges Bank, 3 domestic MFs pick up stake
Singapore-based Sion Investment Holdings has sold a nearly 13.7% stake in CMS Info Systems, which has been purchased by Abu Dhabi Investment Authority and Norges Bank, picking up 1.29% and 1.69% of the stake, respectively. Meanwhile, three domestic fund houses – SBI Mutual Fund, 360 One Mutual Fund, and IIFL Mutual Fund – have added stakes in CMS Info Systems. Public stakeholders include mutual funds, which have a 10.02% stake, while foreign investors have a 12.94% stake.
2023-06-09T19:37:38+05:30
CPPIB sells 1.66% stake in Kotak Mahindra Bank for Rs 6,123 cr
Canada Pension Plan Investment Board on Friday divested around 1.7 per cent stake in private lender Kotak Mahindra Bank for Rs 6,123 crore through an open market transaction. According to the bulk deal data available with the BSE, Canada Pension Plan Investment Board (CPPIB) offloaded 3.30 crore shares, amounting to a 1.66 per cent stake in Kotak Mahindra Bank
2023-06-09T19:25:21+05:30
US stocks open higher on Tesla boost, Fed meet in focus
The Dow Jones Industrial Average rose 18.83 points, or 0.06%, at the open to 33,852.44.
2023-06-09T19:09:02+05:30
ETMarket Watch: Sensex, Nifty fall for 2nd straight session; all eyes on Fed meet
2023-06-09T18:58:07+05:30
Could Fed hike rates again? What Ridham Desai said about rate hike cycle, US market & more
2023-06-09T18:52:40+05:30
Up 181% in 1 year! Multibagger stock declares 1:2 share split and 1:1 bonus issue
Maan Aluminium has approved a 1:2 equity share split, which is intended to increase the stock's liquidity. The Board of the Indian company has also approved a 1:1 bonus issue of equity shares to existing shareholders, subject to approval at the annual general meeting. Bonus shares will be fully paid additional shares and issued to shareholders in proportion to the number of shares they already own, increasing liquidity and lowering the stock's price to make it more affordable to investors. The company produces aluminium for several industries and its share price has nearly tripled investors' wealth in the last year.
2023-06-09T18:38:33+05:30
These 9 midcap stocks touch their new 52-week high, gaining upto 30% in a month
2023-06-09T18:15:29+05:30
Raking in the Moolah! India's richie rich investors to grow leaps & bounds
India's ultra-high net worth individuals (UHNWIs), with a net worth of over $30 million, are estimated to rise by 58.4% in five years
2023-06-09T17:50:34+05:30
Beware! NSE cautions investors against those misusing Zerodha, Angel One names
The National Stock Exchange (NSE) of India has warned investors against individuals collecting funds as Angel One Industry and Zerodha Industry, promising assured returns on investments. These entities are not registered members of the exchange. Exchanges caution investors of unregistered trading firms and advisors who guarantee returns. SEBI has recently taken steps to check illegal practices of advisory in the market, due to the rise of individual financial and investment advisors termed as "finfluencers". Last month, a well-known YouTube finfluencer was ordered to pay settlement and disgorgement fees for violating investment advisor regulations.
2023-06-09T17:48:19+05:30
Tech View: Nifty forms make-or-break support at 18389. What should traders do next week
The negative trend in the Nifty is indicated by bearish divergences in RSI and MACD, with immediate support placed around the 18450 levels but resistance found at the 18750 levels. The index is retracing its prior rise from 18060 – 18777, but a negative divergence needs to be confirmed before a negative outlook is established. The monthly expiry contract of the 18600 put option indicates traders are confident of a close-by bottom despite the current small profit booking phase, while Nifty's make-or-break support is at 18389.
2023-06-09T17:41:50+05:30
Stock market update: Mining stocks down as market falls
The 30-share BSE Sensex closed down 223.01 points at 62625.63
2023-06-09T17:28:23+05:30
Stock market update: Nifty Realty index advances 0.04%
The Nifty Realty index closed 0.04 per cent up at 498.45.
2023-06-09T17:23:11+05:30
Growth concerns! Macquaire downgrades HDFC Life, I-Pru Life, SBI Life despite valuation comfort
Analysts are sceptical about the growth prospects of the insurance sector, despite lucrative valuations. The sector has underperformed the benchmark Nifty by 13% in the past 12 months, leading Macquarie to downgrade HDFC Life, ICICI Prudential Life and SBI Life to "Neutral" from "Outperform". The bank has also cut its FY25E value of new business estimates by 2-6% and target prices by 15-17%. Macquarie has forecast a lower value of new business CAGR at 9-15% for FY23-26E against 16-22% for FY22-25E.
2023-06-09T17:21:27+05:30
Stock market update: Fertilisers stocks down as market falls
The 30-share BSE Sensex closed down 223.01 points at 62625.63
2023-06-09T17:17:58+05:30
Stock market update: Nifty Auto index falls 0.45%
The Nifty Auto index closed 0.45 per cent down at 14626.0.
2023-06-09T17:12:42+05:30
Stock market update: FMCG stocks down as market falls
The 30-share BSE Sensex closed down 223.01 points at 62625.63
2023-06-09T17:02:24+05:30
Gainers and Losers: IndusInd Bank, Paytm among 5 stocks in spotlight on Friday
While the Sensex closed at 62,626, down by 223 points or 0.35%, the broader Nifty50 settled at 18,563, down by 71 points or 0.38%
2023-06-09T16:58:10+05:30
Stock market update: Nifty Pharma index falls 0.39%
The Nifty Pharma index closed 0.39 per cent down at 12861.05.
2023-06-09T16:57:03+05:30
Stock market update: Stocks that hit 52-week highs on NSE in today's trade
Greenlam Ind, Dynamic Cables, Jindal Drilling, Federal Mogul and V-Marc India, hit their fresh 52-week highs during the day.
2023-06-09T16:51:53+05:30
Sensex falls! These stocks fell 5% or more in Friday's session
In the Nifty pack, 15 stocks closed in the green, while 34 stocks ended in the red.
2023-06-09T16:46:41+05:30
Share market update: Most active stocks in today's market in terms of volume
The NSE Nifty index closed 71.15 points down at 18563.4
2023-06-09T16:41:29+05:30
Stock market update: Power stocks down as market falls
The 30-share BSE Sensex closed down 223.01 points at 62625.63
2023-06-09T16:36:18+05:30
Gold jumps Rs 440; silver rallies Rs 1,050
Gold prices edged higher in the Asian trading hours on Friday, with spot gold prices in the Delhi markets trading at Rs 60,820/10 grams, up Rs 440 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.In the overseas markets, both gold and silver were trading higher at USD 1,964 per ounce and USD 24.35 per ounce, respectively
2023-06-09T16:35:22+05:30
Stock market update: Nifty Bank index falls 0.01%
The Nifty Bank index closed 0.01 per cent down at 43989.0.
2023-06-09T16:26:03+05:30
Share market update: Most active stocks of the day in terms of traded value
The NSE Nifty index closed 71.15 points down at 18563.4
2023-06-09T16:20:51+05:30
Stock market update: Sugar stocks up as market falls
The 30-share BSE Sensex closed down 223.01 points at 62625.63
2023-06-09T16:10:36+05:30
Stock market update: Nifty IT index falls 0.82%
The Nifty IT index closed 0.82 per cent down at 28355.35.
2023-06-09T16:05:23+05:30
Sensex falls for 2nd straight day, ends 223 pts lower; Nifty below 18,600
2023-06-09T16:03:38+05:30
Stock market update: Stocks that hit 52-week lows on NSE in today's trade
Hero MotoCorp, Eicher Motors, HDFC Life, Divis Labs and Tata Steel were among the top losers on NSE in today's trade.
2023-06-09T16:00:10+05:30
What is the fund switching or scheme switching criteria for NPS: Anant Ladha answers
As such there is no switch, you just have to ensure that whatever amount which you have invested in last 12 months, there might be an exit load which is applicable which is usually 1%. So, this is one point which you have to take care. Other than this, there are no charges.
2023-06-09T16:00:00+05:30
Logistics company Western Carriers files draft papers with Sebi for IPO
Western Carriers, a logistics service provider with over 50 years of experience, has filed draft papers for an initial public offering (IPO) to raise funds through a fresh equity issue of up to Rs 500 crore and an offer for sale of 93.28 lakh shares by the promoter. The company operates on an asset-light business model and provides 3PL and 4PL logistic solutions. It had over 1,100 clients in sectors such as metals and mining, FMCG, pharmaceuticals, among others. The IPO funds will be used for prepaying a portion of certain outstanding borrowings and funding capital expenditure requirements.
2023-06-09T15:55:42+05:30
Rupee rises 4 paise to close at 82.47 against US dollar
The rupee gained 4 paise to close at 82.47 against the dollar amid foreign fund inflows, though a strong dollar and weak domestic equities limited gains. The rupee opened at 82.49 and hit a low of 82.50 through the day. The RBI left interest rates unchanged at 6.5% on Thursday, while foreign institutional investors were buyers in capital markets, purchasing shares worth Rs 212.40 crore, according to exchange data. Meanwhile, Brent crude futures rose 0.38% to $76.25 per barrel, while the dollar index rose 0.19% to 103.54.
2023-06-09T15:55:07+05:30
Sensex, Nifty fall for 2nd straight session; all eyes on Fed meet outcome
The market capitalisation of all listed companies on BSE declined by Rs 73,059 crore to Rs 286.72 lakh crore. The market breadth was skewed in the favour of the bears. About 1,796 stocks declined, 1,739 gained, and 113 remained unchanged on the BSE.
2023-06-09T15:52:53+05:30
HMA Agro Industries IPO: 10 things to know about the public offer
HMA Agro Industries, a leading exporter of frozen buffalo meat in India, is set to launch its Rs 480 crore ($72m) initial share sale which opens on 20 June and closes on 23 June. The public offer comprises a fresh issue of equity shares up to Rs 150 crore and an offer for sale of Rs 330 crore by promoters and selling shareholders. The price band for the public offer has been set at Rs 555-585 per equity share, the upper end of which values the company at Rs 2,929 crore.
2023-06-09T15:38:25+05:30
5 most & 5 least-loved mutual funds of FY23
2023-06-09T15:25:23+05:30
Gold Rate Today: Gold prices in India trade flat. Check price of yellow metal in Delhi, Ahmedabad and other Indian cities
Gold trade remained flat at Rs 59,895 per 10 grams on Friday ahead of next week's Federal Reserve's Federal Open Market Committee meeting. The traders are holding back bets on the yellow metal as it might further become volatile. Meanwhile, silver futures were seen trading up by 0.50% at Rs 74,036 per kg. The gold futures, in MCX, recorded a decline of 0.51% or Rs 307 per 10 grams in June and were up 6.13% or Rs 4,257 annually. Silver futures also gained nearly Rs 1,568 or 2.17% in June.
2023-06-09T15:22:50+05:30
IKIO Lighting IPO: GMP signals listing gains for investors after robust subscription
IKIO Lighting, which had an initial public offering (IPO) worth Rs 607 crore ($81.2 million), has received a healthy response from investors. The IPO was subscribed 397 times with bids for 100,92,76,892 shares against 1,52,24,074 shares on offer. The qualified institutional buyers (QIBs) category was subscribed 163.58 times, accompanied by non-institutional investors with 63.35 times, and the retail investors' quota recording a 13.86 times subscription. The net proceeds from the public offering will be used to repay borrowings, invest in its subsidiary, IKIO Solutions, and other corporate purposes.
2023-06-09T15:03:36+05:30
Navigating yuan’s weakness in India-China trade
The relationship between India and China has been progressing economically, despite tensions over border issues. However, the Chinese yuan has fallen to a six-month low due to economic slowdowns and the emergence of a new COVID-19 variant. Meanwhile, India's economic data has been encouraging, with manufacturing and service in expansionary modes, and the rupee performing consistently. While India's dependence on Chinese imports remains high, a weaker yuan benefits Indian importers, yet erodes profit margins for exporters. Overall, the CNYINR pair is expected to move southward toward 11.20 levels in the upcoming weeks.
2023-06-09T14:59:55+05:30
ICICI Lombard shares drop 2.94% as Sensex falls
A total of 7,780 shares changed hands on the counter till 02:14PM (IST)
2023-06-09T14:14:13+05:30
ICICI Pru Life shares down 3.66% as Nifty drops
A total of 84,543 shares changed hands on the counter till 02:08PM (IST).
2023-06-09T14:08:59+05:30
Mphasis shares fall 0.43% as Nifty drops
A total of 12,256 shares changed hands on the counter till time (IST).
2023-06-09T14:03:48+05:30
Crompton Greaves declines 1.85% as Sensex slides
The stock traded at a P/E multiple of 37.94, while the price-to-book value ratio stood at 7.01.
2023-06-09T13:58:35+05:30
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