Nifty Financial Services index is currently in a downtrend and traders are advised to sell on rallies, says Ravi Nathani
Posts in category Business Standard
Stocks to Watch: TCS, Aditya Birla Sun Life, L&T Finance, Tata Steel, SBI (19-03-2024)
Stocks to Watch on March 19, 2024: Tata Sons is set to divest a 0.65 per cent stake in in TCS on Tuesday in the open market, according to a term sheet. It will offload 23.4 million shares
Juniper Hotels consolidated net profit rises 190.16% in the December 2023 quarter (19-03-2024)
Sales rise 32.30% to Rs 236.27 crore
Stock Market LIVE: Gift Nifty hints gap-down; Nikkei, Hang Seng slip 0.7% (19-03-2024)
Stock market Update on Tuesday, March 19: The US market ended higher on Monday led by Nasdaq ahead of the US Fed meet action later this week.
Aditya Birla Sun Life AMC OFS opens on Tue; fixes floor price of Rs 450 cr (18-03-2024)
Aditya Birla Sun Life AMC on Monday said its promoters propose to sell 7 per cent of their stake for Rs 900 crore.
The promoters, Aditya Birla Capital Ltd and Sun Life (India) AMC Investments Inc, propose to sell up to 2,01,66,293 shares of the company representing 7 per cent of stake by way of an offer-for-sale (OFS) through stock exchange mechanism, a regulatory filing said.
At the base offer, promoters would raise Rs 900 crore, while with the green shoe option they would raise about Rs 1,487 crore.
The two-day OFS opens on Tuesday and closes on Wednesday, it said.
The OFS comes with an option to additionally sell up to 1,28,86,277 shares representing 4.47 per cent, it said.
The base offer size and the oversubscription option will represent 11.47 per cent of the total issued and paid up share capital of the company, that is 3,30,52,570 shares, it said.
The floor price for the offer would be Rs 450 per share, it said.
Shares of Aditya Birla Sun Life AMC Ltd closed at Rs 475.35,
Bharti Airtel, State Bank of India, Zomato on Jefferies hotlist for 5 years (18-03-2024)
Amber Enterprises, specialising in ACs and components, expects earnings to grow over 36 per cent CAGR from FY24-30 due to the PLI scheme
Wealth managers advise clients to reduce exposure to smallcaps, midcaps (18-03-2024)
Somnath Mukherjee of ASK Private Wealth says the risk in the smallcap space has more to do with the enhanced regulatory scrutiny and the slowdown in profit growth
Adani group stocks fall amidst reports about US widens investigation (18-03-2024)
Analysts termed Monday’s fall as a knee jerk reaction and said the group stocks could gain as the conglomerate has got a clean chit vis-a-vis the allegations by Hindenburg Research
Market regulator Sebi plans to boost municipal bond participation via ARCL (18-03-2024)
ARCL is a settlement and clearing provider for the tri-party repo, backed by Sebi and funded by asset management companies, launched last year to provide a common platform for market participants
Krystal Integrated Services’ IPO subscribed 13 times on last day of offer (18-03-2024)
The Initial Public Offering (IPO) of facility management and security services provider Krystal Integrated Services got subscribed 13.21 times on the last day of bidding on Monday.
The initial share sale received bids for 3,96,26,200 shares against 29,99,448 shares on offer, as per NSE data.
The portion for non-institutional investors received 43.90 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 7.33 times. The Retail Individual Investors (RIIs) part fetched 3.31 times subscription.
The IPO had a fresh issue of up to Rs 175 crore and an offer for sale of up to 1,750,000 equity shares.
The initial share sale had a price range of Rs 680-715 a share.
Krystal Integrated Services last week mopped up over Rs 90 crore from anchor investors.
The company began operations in 2000 as a private security staff provider and from 2005 entered the facility management segment.
Around 70 per cent of its facility management business comes from govern