Posts in category Business Standard
Nifty Metal weak on charts, Nifty Pharma rangebound: How to trade them? (22-12-2023)
Only a decisive close above 7,616 in Nifty Metal would indicate a potential reversal, opening the door for further upward movement with the next target at 7,740, says Ravi Nathani
Stock Market LIVE: Sensex jumps 350 pts, Nifty at 21,350; Coal India up 3% (22-12-2023)
Stock market Update on Friday December 22: LIC rallied 6 per cent after the govt approved a 10 year extension for the company to meet the 25 per cent minimum public shareholding norms
Pharma firm Innova Captab IPO subscribed 1.40 times on first day of offer (21-12-2023)
The initial public offer of integrated pharmaceutical company Innova Captab got subscribed 1.40 times on the first day of subscription on Thursday.
The Rs 570 crore initial share sale received bids for 1,27,25,196 shares against 90,78,010 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) received 2.12 times subscription while the quota for non-institutional investors was subscribed 96 per cent. The category for Qualified Institutional Buyers (QIBs) received 44 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue aggregating up to Rs 320 crore and an Offer for Sale of up to 55,80,357 equity shares.
The IPO comes in a price range of Rs 426-448 a share.
Innova Captab on Wednesday said it has collected Rs 171 crore from anchor investors.
Proceeds from fresh issuance worth Rs 144.40 crore will be utilised for payment of debt, Rs 23.60 crore for investment in the subsidiary, UML, Rs 72 crore for funding working capital requirements
RBZ Jewellers IPO receives 16.86 times subscription on last day of offer (21-12-2023)
The Rs 100 crore-initial share sale of RBZ Jewellers received 16.86 times subscription on the closing day of bidding
Motilal Oswal smallcap collects Rs 1,350 crore during new fund offering (21-12-2023)
According to the fund house, over 150,000 investors subscribed to the NFO, putting in an average of Rs 85,000
Happy Forgings IPO gets subscribed 82 times on last day of bidding (21-12-2023)
The initial public offer of auto components maker Happy Forgings got subscribed 82.04 times on the last day of bidding on Thursday, driven by huge demand from institutional buyers.
The Rs 1,008.6 crore-initial share sale fetched bids for 68,62,98,398 shares against 83,65,639 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) was subscribed a whopping 220.48 times. The part for non-institutional investors attracted 62.17 times subscription and the category for Retail Individual Investors (RIIs) got subscribed 15.09 times.
The Initial Public Offer (IPO) had a fresh issue of up to Rs 400 crore and an offer for sale of up to 71,59,920 equity shares.
Price range for the offer was Rs 808-850 a share.
Happy Forgings Ltd on Monday said it has mobilised Rs 303 crore from anchor investors.
Proceeds from the fresh issue will be utilised towards purchase of equipment, plants, and machinery, payment of debt and a portion of the funds will also be used for
Credo Brands’ IPO gets subscribed 51.85 times on heavy demand from buyers (21-12-2023)
The Initial Public Offering (IPO) of Credo Brands Marketing, which owns denim brand Mufti, got subscribed 51.85 times on Thursday, the last day of subscription.
Heavy demand from institutional buyers helped the share sale attract smart subscription on the closing day.
The Rs 549.77 crore-initial share sale attracted bids for 71,26,92,325 shares against 1,37,44,472 shares on offer, as per data available with the NSE.
The Qualified Institutional Buyers (QIBs) part got subscribed a staggering 104.95 times while the portion for non-institutional investors received 55.51 times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 19.94 times.
The IPO of 1,96,34,960 equity shares had a price range of Rs 266-280 a share.
Credo Brands' public issue was an Offer For Sale (OFS) of up to 1.96 crore shares by promoters and other existing shareholders.
The company has collected Rs 165 crore from anchor investors.
Credo Brands Marketing is among the leading homegrown b
Inox India shares end debut day with 42% premium at Rs 940 on bourses (21-12-2023)
Inox India is a supplier of cryogenic equipment
Index heavyweights, investors’ buying on dips aid market recovery (21-12-2023)
HDFC Bank rose 1.8 per cent and contributed the most to Sensex gains, followed by Reliance Industries, which gained 1.4 per cent
India looks for greater mkt access for alcoholic beverages in FTA: Official (21-12-2023)
India looks for greater market access on a reciprocal basis for its alcoholic beverages while negotiating free trade agreements (FTAs), a senior government official said on Thursday.
Additional Secretary in the Commerce Ministry, Rajesh Agrawal, said that demand for Indian spirits is growing in the world.
"On the market access point of view, it is on a reciprocal basis. If we are opening up our market in any way...we also try to look for market access in other countries," he told reporters here.
The remarks assume significance as India is negotiating a free trade agreement with the UK and the European Union (EU). Cutting customs duties in the sector is one of the key demands of these countries.
"This is one of the areas (where) we are trying to negotiate upon and...we are trying to see that the duty concessions that are required in various destinations, we get (that)," he said.
He added that the condition that for a product to qualify as a whisky, it must be matured for a period n