Posts in category Business Standard
Investors make a beeline as five IPOs hit market; most oversubscribed (22-11-2023)
Some believe the secondary market performance could be subdued in the immediate term as the five IPOs are expected to block liquidity until mid next week
Holdcos rally ahead of easing of delisting norms, investors lap up shares (22-11-2023)
Sebi board meeting on Saturday may introduce a separate framework for delisting norms for holdcos
Pen maker Flair Writing IPO fully subscribed on first day of offer (22-11-2023)
The initial share sale offering of pen maker Flair Writing Industries was fully subscribed on the first day of bidding on Wednesday, ending the trade with 2.17 times subscription.
The Initial Public Offer (IPO) received bids for 3,13,20,310 shares against 1,44,13,188 shares on offer, according to data available with the NSE.
The part for Retail Individual Investors (RIIs) attracted 2.86 times subscription while the quota for non-institutional investors got subscribed 2.78 times. The category for Qualified Institutional Buyers (QIBs) received 53 per cent subscription.
Flair Writing's IPO has a fresh issue of equity shares aggregating up to Rs 292 crore and an Offer for Sale (OFS) of equity shares worth up to Rs 301 crore by promoters and promoter group entities.
At present, promoters and promoter group entities own 100 per cent stake in the company.
The issue has a price band of Rs 288-304 a share.
Flair Writing Industries Ltd on Tuesday said it has mopped up Rs 178 crore from anc
Stocks set to hit new highs in 2024 by over 10% as economy hums: Poll (22-11-2023)
The benchmark BSE Sensex index touched an all-time high of 67,927.23 in September, recording the longest streak of gains in 16 years
Domestic brokerage Prabhudas Lilladher sets 12-month Nifty target 22,584 (22-11-2023)
"Nifty is not in a bubble zone as it is trading at a 17.2 per cent discount to the 10-year average which provides comfort," said Amnish Aggarwal, head of research at Prabhudas Lilladher
CRISIL upgrades outlook on Tata Power to ‘positive’ on profitability view (22-11-2023)
Tata Power on Wednesday said Crisil Ratings has upgraded its outlook on the company to 'positive' on expectation of an improvement in operating profitability this fiscal.
The ratings agency had earlier assigned a 'stable' outlook on the company, Tata Power said in a regulatory filing.
"CRISIL Ratings Limited has upgraded its outlook on the company (Tata Power) from AA/Stable Outlook to AA/Positive Outlook," it said.
The revision in outlook reflects the possibility of better-than-expected business risk profile, if the improvement in operating profitability in fiscal 2024, across power generation and distribution business, sustains along with a continuing healthy financial performance with consolidated net leverage (ratio of net debt to EBIDTA) remaining within rating threshold, it said.
The increase in operating profitability of Tata Power since fiscal 2023, is mainly on account of better profitability of its Mundra Ultra Mega Power Project (Mundra plant), improved efficiency in Odi
Billionaire Gautam Singhania’s separation erases $180 mn at Raymonds (22-11-2023)
The stock has tumbled 12 per cent since Nov. 13 when Singhania announced separation from Nawaz Singhania, his wife of 32 years and a Raymond board member
CG Power zooms 20% on plan to set-up subsidy-backed new semiconductor unit (22-11-2023)
The company today filed an application seeking government nod to set up an Outsourced Semiconductor Assembly and Test (OSAT) facility and the grant of subsidy for the said project.
Foreign inflows to Indian bonds set for highest in 6 years over index call (22-11-2023)
Inflows to fixed income, including corporate debt, have reached nearly $6 billion thus far in 2023, with this month alone accounting for about a quarter of the flows, according to data compiled
New Binance CEO Richard Teng’s first job is to avert customer exodus (22-11-2023)
Teng, 53, succeeded Zhao as the chief executive of the world's largest crypto exchange after the company and Zhao pleaded guilty to US anti-money laundering and sanctions violations