Posts in category Business Standard
Azad Engineering shares settle with over 29% premium in debut trade (28-12-2023)
Shares of Azad Engineering Ltd ended with a premium of over 29 per cent against the issue price of Rs 524 on the first day of trade on Thursday.
The stock made its debut at Rs 710, reflecting a jump of 35.49 per cent from the issue price on the BSE. During the day, it zoomed 38.83 per cent to Rs 727.50. Shares of the company ended at Rs 677.10 apiece, rallying 29.21 per cent.
On the NSE, the stock listed at Rs 720, up 37.40 per cent. Shares of the company ended at Rs 673.25 per piece, a jump of 28.48 per cent.
The company's market valuation stood at Rs 4,002.54 crore.
In volume terms, 7.80 lakh shares of the company were traded on the BSE and over 1.51 crore shares on the NSE during the day.
In the equity market, the 30-share BSE Sensex jumped 371.95 points or 0.52 per cent to settle at an all-time closing high of 72,410.38. The Nifty climbed 123.95 points or 0.57 per cent to settle at a fresh record of 21,778.70.
The initial share sale of Azad Engineering received 80.60 times ..
Sebi proposes action points to ease rumour verification regulations (28-12-2023)
The regulator has put forth the suggestions of the Industry Standard Forum to address the current challenges
Rate impact, inflation decline: Axis MF forecasts 2024 as year of contrast (28-12-2023)
Citing the recent state election results, the note stated that the risks from the general election are low
Markets scale fresh peaks on rate cut bets, Sensex jumps 372 points (28-12-2023)
The Sensex began the session with a new high and rose to 72,484.34, to end at 72,410, a gain of 372 points or 0.5 per cent
Smallcap rush pushes hybrid funds to sidelines, show slowest account growth (28-12-2023)
The net inflows into hybrid schemes in 2023 (as of November) stood at Rs 78,200 crore. Arbitrage and equity savings accounted for 68 per cent of the total inflows
Sebi outlines rules for NPOs’ ‘zero coupon zero principal’ public issuance (28-12-2023)
Capital markets regulator Sebi on Thursday came out with a procedure for public issuance of 'zero coupon zero principle' instruments by not-for-profit organisations (NPOs) and listing of such instruments on the Social Stock Exchange (SSE).
Under this, the SSE will have to specify the details to be incorporated in the fundraising document.
In 2022, the government declared "zero coupon zero principal instruments" as securities.
In a circular, Sebi said that an NPO, through the lead manager, is required to file the draft fundraising document with the SSE and an application seeking in-principle approval for listing the instrument on the SSE.
The SSE will provide its observation on the draft fundraising document to the NPO within 30 days from the filing of the papers or receipt of clarification, if any, sought by the exchange from the NPO, whichever is later.
NPO will incorporate the observations of the SSE in a draft document and file the final papers to the SSE prior to opening the .
Fundraising through QIP shines, companies garner Rs 50,200 cr in 2023 (28-12-2023)
Fundraising through the issuance of shares to institutional investors skyrocketed, as companies raked in Rs 50,218 crore in 2023, marking a six-fold surge from the previous year and indicating a positive outlook among investors.
Apart from QIPs, fund mobilisation through rights issue of shares and OFS (Offer-for-Sale) route too surged in 2023, as compared to last year.
Market experts attributed the primary reason for the increase in Qualified Institutional Placement (QIP) fundraising to the market and investor sentiments that play an important role in their success.
As long as positive market vibes persist, and investors continue to reap returns, listed companies lean towards opting for fundraising through QIP as this avenue ensures swift access to funds, they added.
According to data by the National Stock Exchange (NSE), companies collected Rs 50,218 crore through QIPs in 2023, which was way higher than Rs 8,196 crore raised in the preceding year.
Bajaj Finance Ltd spearheaded th
FirstCry’s parent firm files DRHP; to raise Rs 1,816 crore via fresh issue (28-12-2023)
The Supam Maheshwari-led company proposes to utilize the Net Proceeds from the offer towards funding the expenditure for setting up new modern stores, a warehouse
GSK Pharma surges 7%, nears record high on healthy business outlook (28-12-2023)
Since November, the stock has appreciated by 36% after the company reported earnings improvement in Q2FY24 on strong demand for its vaccines and general medicine.
Firstcry’s parent firm Brainbees Solutions files papers to go public (28-12-2023)
Firstcry IPO: Brainbees Solutions will sell shares worth Rs 1,816 crore and existing investors, including SoftBank, will sell up to 54.4 million shares