On Wall Street, both the Dow Jones Industrial Average and S&P 500 closed lower, retreating from record highs as Treasury yields increased.
Posts in category Business Standard
Nifty Fin Services, PSU Bank: Check support, resistance & other key levels (22-10-2024)
The Nifty Financial Services Index has recently shown a positive breakout from its consolidation phase, with a strong close above 23,911.
FPI selling tops $10 billion so far in October amid a shift to China (21-10-2024)
If trend holds, this will be first monthly outflows of over $10 bn
CD&R makes Rs 2,983 cr offer for 26% stake in Sanofi Consumer Healthcare (21-10-2024)
Global investment firm CD&R on Monday announced an open offer to acquire a 26 per cent stake in Sanofi Consumer Healthcare India Ltd for an aggregate of up to Rs 2,983 crore.
The development follows Sanofi and Clayton, Dubilier & Rice (CD&R) entering into exclusive negotiations whereby CD&R Group has agreed to acquire a controlling stake in Opella, which holds a 60.4 per cent stake in Sanofi Consumer Healthcare India.
The offer is made at a price of Rs 4,982.05 per share, aggregating to a total consideration of up to Rs 2,983.23 crore, according to the offer letter by Citigroup Global Markets India, the manager of the transaction, shared on BSE by Sanofi Consumer Healthcare India.
The open offer has been triggered by Sanofi and CD&R entering into exclusive negotiations for the potential sale and purchase of a 50 per cent controlling stake in Opella, Sanofi’s consumer healthcare division.
The valuation of Opella is based on an enterprise value of 16 billion …
WazirX moved over $73 million crypto after data breach: CoinSwitch (21-10-2024)
While WazirX did not deny the allegation in its official statement, it added that CoinSwitch should instead provide users real-time tracking tracking of proof of reserves and wallet addresses
Deepak Builders IPO receives 4.12 times subscription on 1st day of offer (21-10-2024)
The initial public offer of engineering and construction company Deepak Builders & Engineers India Ltd received 4.12 times subscription on the first day of subscription on Monday.
The Rs 260 crore initial public offer received bids for 3,69,59,389 shares against 89,67,061 shares on offer, as per NSE data.
The quota for Retail Individual Investors (RIIs) fetched 6.12 times subscription while the category for non-institutional investors got subscribed 4.26 times. The Qualified Institutional Buyers (QIBs) part attracted 52 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue of up to 1.07 crore equity shares and an offer for sale of up to 21,10,000 equity shares.
Price range for the offer is fixed at Rs 192-203 per share.
Fedex Securities Private Ltd is the book running lead manager to the offer.
Investors subscribe Waaree Energies’ IPO 3.29 times offer size on day 1 (21-10-2024)
The initial public offer of solar panel maker Waaree Energies Ltd was subscribed 3.29 times on the first day of share sale on Monday, driven by encouraging participation from non-institutional and retail investors.
The Rs 4,321.44 crore initial share sale received bids for 6,92,83,467 shares against 2,10,79,384 shares on offer, as per NSE data.
The portion for non-institutional investors received 7.98 times the subscription, while the category for retail individual investors (RIIs) fetched 3.16 times the subscription. The quota for qualified institutional buyers (QIBs) subscribed 8 per cent.
Waaree Energies on Friday said it has mobilised Rs 1,277 crore from anchor investors.
The issue, with a price band of Rs 1,427 to Rs 1,503 per share, will remain open for public subscription from October 21 to October 23.
The IPO is a combination of a fresh issue of equity shares aggregating to Rs 3,600 crore and an Offer For Sale (OFS) of 48 lakh equity shares worth Rs 721.44 crore, at the up
Allied Blenders & Distillers launches Russian Standard Vodka in India (21-10-2024)
Consistently ranked as one of the fastest-growing spirits brands in the world, it is the number one premium Vodka in Russia boasting 30% market share in premium category and also a number one Russian Vodka globally being exported to over 85 countries. Russian Standard Vodka is made with the finest ingredients in the state-of-the-art distillery in St. Petersburg, Russia. They use glacial water from nearby Lake Ladoga for its purity and winter wheat from the rich soil of the Russian Steppes for its unique taste. The strategic arrangement between ABDL and Roust
Corporation leverages the strengths of both companies. ABDL’s extensive distribution network and consumer marketing expertise will complement Roust Corporation’s globally renowned vodka premium portfolio namely Russian Standard Original, Gold and Platinum.
Epack Durable secures contract manufacturing deal from Hisense (21-10-2024)
Hisense has contracted Epack Durable to setup advanced dedicated manufacturing facility in India to produce Hisense range of Air conditioners and Home Appliances using Hisense’s proprietary technology & designs.
India to launch coal exchange soon: Coal minister G Kishan Reddy (21-10-2024)
“Last week we took a briefing on setting up coal exchange,” Minister added but didn’t disclose the exact timing on when the exchange will come up