Posts in category Business Standard
Nifty IT, Metal indices: Adopt ‘Sell on Rise’ strategy; here’s why (20-10-2023)
According to Ravi Nathani, an independent technical analyst, one can consider to sell the Nifty IT and Metal indices near resistance levels.
Trust MF ropes in Mihir Vora as CIO; IRM Energy IPO subscribed 4.36 times (19-10-2023)
The initial public offering (IPO) of city gas distribution company IRM Energy was subscribed 4.36 times on the second day of the offer
London wins back its Europe’s largest stock market crown from Paris (19-10-2023)
London had lost its status as Europe's biggest stock market last November, extending an equity slump that stretched back to Britain's vote to leave the European Union in 2016
Indices fall for the second straight trading session on weak global cues (19-10-2023)
Besides, disappointing quarterly earnings numbers and revenue forecast from IT services company Wipro also weighed on investor sentiments, traders said
Improved forex reserve provided policymakers room for manoeuvre: BIS report (19-10-2023)
India's improved forex reserve adequacy helped maintain investor confidence and improved policymakers' room for manoeuvre, said a report prepared by Bank for International Settlements (BIS).
India maintained forex reserve upwards of USD 550 billion during most of 2022.
BIS is an international financial institution which is owned by member central banks with primary goal to foster international monetary and financial cooperation.
"Several members noted that the development of deeper and more liquid FX markets in the past facilitated efficient price discovery during 2022 and reduced the need for FX interventions or capital flow measures (CFMs) (including China, Indonesia and Malaysia)," the report said.
In addition, minimum hedging requirements on corporates' net liability exposure in the past helped build firms' resilience and also mitigated the need for (or intensity of) an ex-post policy response in 2022, the report titled 'Inflation, external financial conditions and macro-financ
London stock exchange sees first trading halt in 4 yrs, blue chips spared (19-10-2023)
Traders said that shares in CRH and Deliveroo were among those not trading on the London market after the incident, which was the first time trading on the LSE had been interrupted since 2019
Strong domestic demand recovery remains key for Bajaj Auto’s stock (19-10-2023)
On the profitability front, favourable raw material costs and better product mix led to a 260 basis points y-o-y jump in operating profit margins to 19.8 per cent
IRM Energy IPO subscribed 4.36 times on second day of subscription (19-10-2023)
The Initial Public Offering (IPO) of city gas distribution company IRM Energy was subscribed 4.36 times on the second day of the offer on Thursday.
The Rs 545.40 crore-initial share sale received bids for 3,32,69,235 shares against 76,24,800 shares on offer, as per data available on the NSE.
The category for non-institutional investors was subscribed 9.08 times while the quota for Retail Individual Investors (RIIs) received 4.36 times subscription and the portion for Qualified Institutional Buyers (QIBs) got subscribed 1.18 times.
The IPO is a fresh issue of up to 1.08 crore equity shares. The offer is in the price range of Rs 480-505 per share.
IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors.
Proceeds from the issue to the tune of Rs 307.26 crore will be used to fund capital expenditure requirements for the development of the city gas distribution network at Namakkal and Tiruchirappalli in Tamil Nadu and Rs 135 crore for payment of debt.
Besi
Over 1,000 HP cops fell victim to crypto fraud, quit jobs to promote it (19-10-2023)
Over a thousand police personnel fell victim to a fake local cryptocurrency created by fraudsters in Himachal's Mandi district, an official said on Thursday.
A majority of the police personnel who invested in the fake cryptocurrency were duped of crores of rupees, but some of them made huge gains, became promoters of the scheme, and roped in more investors for it, according to investigators of the Special Investigation Team (SIT) constituted to probe the scam.
According to police, at least one lakh people have been duped by the fraudsters in the cryptocurrency fraud, and 2.5 lakh IDs have been found which included multiple IDs of the same person.
To get investors, the scammers launched two cryptocurrencies 'Korvio Coin' (or KRO) and DGT Coin' and created fake websites with manipulated prices of these digital currencies.
They lured the initial investors by promising them high returns in a short span of time. They also created a network of investors, who further expanded the chain
Dollar steady ahead of Fed Chair remarks, underpinned by higher US yields (19-10-2023)
"Other majors have been more stable, even as yields continue to move higher. Maybe there is some caution ahead of Powell later in the day"