OPEC believes oil use will keep rising over the next two decades, while the IEA, which represents industrialised countries, predicts it will peak by 2030
Posts in category Business Standard
Multi-Commodity Exchange of India starts process of offering DMA to FPIs (24-01-2024)
The DMA facility allows brokers to provide direct trading terminals to their clients. “All DMA orders shall be routed to the exchange trading system through the broker’s trading system,” MCX said
Sensex surges 690 points to reclaim 71K peak, equity benchmarks rebound 1% (24-01-2024)
Equity benchmark indices Sensex and Nifty rebounded sharply by 1 per cent on Wednesday after sliding for the past two sessions, propelled by bargain hunting in metal, commodity and telecom stocks.
Trading through a patchy track in the opening session, the 30-share BSE Sensex gradually gained ground and jumped 689.76 points, or 0.98 per cent, to settle at 71,060.31. The benchmark moved between an intra-day high of 71,149.61 and a low of 70,001.60.
The broader NSE Nifty also closed 215.15 points or 1.01 per cent higher at 21,453.95.
Among the Sensex firms, major winners included Tata Steel, rising 3.77 per cent, followed by HCL Tech, which gained 3.62 per cent.
IndusInd Bank and PowerGrid closed with a gain of 3,60 and 3.34 per cent, respectively. Other gainers were Tech Mahindra, Hindustan Unilever, Bajaj Finserve and Bharti Airtel, among others.
On the other hand, ICICI Bank, Axis Bank, Asian Paints, Bajaj Finance and TCS were the only laggards, sliding up to 2.94 per cent.
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Crude oil rises towards $80 as China announces economic stimulus package (24-01-2024)
The front-month March contract for Brent crude was up 40 cents to $79.95 a barrel at 1410 GMT. U.S. West Texas Intermediate crude was up 57 cents to $74.94 a barrel
One year of Hindenburg: Adani group up, recouping market cap losses (24-01-2024)
The Securities and Exchange Board of India (Sebi) continues to investigate allegations made by Hindenburg against the group. It has concluded 22 of the 24 investigations
Alpex Solar files preliminary papers with sebi to raise Rs 75 cr via IPO (24-01-2024)
Solar energy solutions provider Alpex Solar on Wednesday said it has filed preliminary papers with SEBI to raise Rs 75 crore through an initial public offering.
The offer comprises fresh issuance of 64,80,000 equity shares with a face value of Rs 10 each, a company statement said.
Alpex Solar has filed its Draft Red Herring Prospectus (DRHP) for the IPO and shares will be listed with NSE Emerge. The company intends to raise around Rs 75 crore through the IPO, it stated.
It will utilise net proceeds from the IPO to upgrade and expand its existing solar module manufacturing facility from 450 MW to 1.2 GW under the Aatmanirbhar Bharat initiative, besides setting up a new manufacturing unit for its solar module’s aluminium frame.
The funds will also be used to meet its working capital requirements and for general corporate expenses.
Corporate Capital Ventures has been appointed as the book running lead manager to the issue and Skyline Financial Services is the registrar.
Alpex Solar
Mutual fund SIP investors step up redemption amid sharp market rally (24-01-2024)
Industry experts say timing the market goes against principle of SIP investing; gross outflows crossed Rs 11K cr in December 2023
Gold prices firms on softer dollar as market await US economic data (24-01-2024)
Spot gold edged up 0.2% to $2,032.88 per ounce by 12:50 GMT. U.S. gold futures rose 0.42% to $2,034.30
EPACK Durable IPO gets 16.37 times subscription on final day of offer (24-01-2024)
The initial share sale of EPACK Durable was subscribed 16.37 times on the final day of subscription on Wednesday.
EPACK Durable manufactures room air conditioners and small household appliances.
The Initial Public Offering (IPO) received bids for 32,70,94,495 shares as against 1,99,77,615 shares on offer, as per NSE data.
The category for Non-Institutional Investors (NIIs) got subscribed 28.10 times while the quota for Qualified Institutional Buyers (QIBs) received 25.50 times subscription.
The portion meant for Retail Individual Investors (RIIs) fetched 6.29 times subscription.
The IPO has a fresh issue of Rs 400 crore and an Offer For Sale (OFS) of up to 1,04,37,047 equity shares. The price band was fixed at Rs 218-230 a share.
EPACK Durable raised Rs 192 crore from anchor investors on January 18.
At the upper end of the price band, the public issue is expected to mobilise Rs 640 crore.
Founded in 2002, the company has integrated manufacturing facilities in Dehradun (Uttarakh
Govt approval required for IFSC listings of cos from bordering nations (24-01-2024)
The rules lay out how companies can list their shares in the International Financial Services Centre (IFSC) housed in the Gujarat International Financial Tech City (GIFT)