Posts in category Business Standard
Stock market LIVE: Benchmarks off lows; consumption, IT stks lead recovery (08-11-2023)
Stock market LIVE updates on November 8, 2023: In the broader markets, the BSE MidCap and SmallCap indices rose 0.6 per cent each
Gold price dips Rs 110 to Rs 61,360, silver falls Rs 700 to Rs 74,500 (08-11-2023)
The price of 22-carat gold fell Rs 100, with the yellow metal selling at Rs 56,250
Hold Nifty longs with a stop at 19,276, suggests HDFC Securities (08-11-2023)
Among individual stocks, Vinay Rajani, technical & derivative analyst at HDFC Securities, recommends to Buy EIH and Doodla Dairy for up to 8 per cent upside.
Nifty FMCG index expected to turn bullish on clearing the hurdle at 52,600 (08-11-2023)
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index faces a formidable hurdle between 52,380 - 52,600; a breakout above this range can trigger a fresh wave of buying.
Mukka Proteins gets Sebi’s nod to raise funds via initial public offering (07-11-2023)
Mukka Proteins, which manufactures fish meal, fish oil, and fish soluble paste, has received capital markets regulator Sebi's go-ahead to raise funds through an initial public offering (IPO).
The IPO is an entirely fresh issue of up to 8 crore equity shares, according to the draft red herring prospectus (DRHP).
The company, which had refiled its draft IPO papers with the regulator in June, obtained an observation letter from it on October 30, an update with the Securities and Exchange Board of India (Sebi) showed on Tuesday.
In Sebi's parlance, obtaining an observation letter means the regulator's nod to float the public issue.
Going by the draft papers, the company proposes to utilize up to Rs 120 crore towards working capital requirements, up to Rs 10 crore for investment in its associate, Ento Proteins Pvt Ltd, for funding its working capital requirements besides a portion will be used for general corporate purposes.
According to market sources, the IPO size could be anywhere .
Markets snap 3 days of rally; settle marginally lower amid volatility (07-11-2023)
Equity benchmark indices snapped three days of rally to settle marginally lower on Tuesday amid weak trends in Asian and European markets along with unabated foreign fund outflows.
The 30-share BSE Sensex dipped 16.29 points or 0.03 per cent to settle at 64,942.40. During the day, it declined 320.59 points or 0.49 per cent to 64,638.10.
The Nifty slipped 5.05 points or 0.03 per cent to 19,406.70.
Among the Sensex firms, Bajaj Finance, JSW Steel, Reliance Industries, Mahindra & Mahindra, ITC, Tata Consultancy Services, Wipro, HDFC Bank, Larsen & Toubro and Bharti Airtel were the major laggards.
Sun Pharma, NTPC, State Bank of India, IndusInd Bank and Axis Bank were the major gainers.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the negative territory.
European markets were trading mostly lower. The US markets ended with marginal gains on Monday.
Global oil benchmark Brent crude declined 2.12 per cent to USD 83.37 a barrel.
Foreign Institutional Investors ...
ASK Automotive initial public offering subscribed 38% on first day of offer (07-11-2023)
The Initial Public Offering (IPO) of auto ancillary player ASK Automotive received 38 per cent subscription on the first day of share sale on Tuesday.
The initial share sale received bids for 78,51,155 shares against 2,06,99,974 shares on offer, as per NSE data.
The portion for Retail Individual Investors (RIIs) was subscribed 56 per cent while the quota for non-institutional investors received 41 per cent subscription.
The category for Qualified Institutional Buyers (QIBs) got 3 per cent subscription.
The IPO is an Offer For Sale (OFS) of 2,95,71,390 equity shares by promoters -- Kuldip Singh Rathee and Vijay Rathee.
Since the IPO is completely an OFS, the entire proceeds will go to shareholders divesting their shares.
The issue has a price band of Rs 268-282 per equity share. At the upper end of the price band, the IPO is expected to fetch Rs 833.91 crore.
ASK Automotive on Monday said it has mobilised a little over Rs 250 crore from anchor investors.
Gurugram-based ASK Autom
ESAF Small Finance Bank IPO subscribed 73.15 times on last day of offer (07-11-2023)
The Initial Public Offering (IPO) of ESAF Small Finance Bank was subscribed 73.15 times on the last day of subscription on Tuesday.
The Rs 463-crore initial share sale received bids for 4,22,28,99,750 shares against 5,77,28,408 shares on offer, as per NSE data.
The portion for Qualified Institutional Buyers (QIBs) received 173.52 times subscription while the quota for non-institutional investors got subscribed 84.37 times.
The retail individual investors part received 16.97 times subscription.
The public offer had a fresh issue aggregating up to Rs 390.7 crore and offer for sale of up to Rs 72.3 crore.
The initial share sale had a price range of Rs 57-60 a share.
Those selling shares in the OFS were promoter ESAF Financial Holdings Pvt Ltd, and other shareholders -- PNB MetLife India Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd.
ESAF Small Finance Bank said it has collected Rs 135 crore from anchor investors.
Proceeds of the fresh issue will be utilised to
Sunil Mittal’s Airtel Uganda IPO failed to sell as investors prefer bonds (07-11-2023)
The demand for Ugandan government bonds maturing in 2033 exceeded the amount on sale by eight fold in an auction on Thursday
Protean eGov Tech IPO subscribed 3.21 times on second day of offer (07-11-2023)
The initial public offer (IPO) of Protean eGov Technologies was subscribed 3.21 times on Day 2 of subscription on Tuesday.
The IPO received bids for 1,40,49,126 shares against 43,78,700 shares on offer, according to NSE data.
The category for non-institutional investors was subscribed 6.23 times while the quota for Retail Individual Investors (RIIs) received 3.88 times subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 7 per cent.
The IPO of Protean eGov Technologies received a full subscription on the first day of the share sale on Monday.
Protean eGov Technologies (formerly known as NSDL E-Governance Infrastructure) on Friday said it has mobilized a little over Rs 143 crore from anchor investors.
The public issue is purely an offer of sale (OFS) by existing shareholders. The OFS size has been reduced to 61.91 lakh equity shares from 1.28 crore equity shares planned earlier.
Since the IPO is completely an OFS, the entire proceeds will go to the se