Indian indices closed lower, influenced by declines in IT stocks like Infosys and TCS. BSE surged on IPO hopes, while Torrent Power gained after a major contract win.
Posts in category Economic Times
Crypto Price Today: Bitcoin jumps 3%, retraces $60,000 mark. Altcoins Etherium, Dogecoin, others gain up to 1.5% on Fed outcome day (18-09-2024)
Major altcoins were trading mixed, with some like Ethereum (ETH), Tether, BNB, Dogecoin, Toncoin, Tron, Cardano, and Shiba Inu seeing gains up to 1.5% around 1:15 pm. Meanwhile, Solana, XRP, and Avalanche experienced declines of up to 1.4%.
SBI raises Rs 7,500 cr via Basel III-compliant bonds (18-09-2024)
SBI Chairman C S Setty said the wider participation and heterogeneity of bids demonstrated the trust investors place in the country’s largest bank.
Madhu Kela among top investors leading SpiceJet’s Rs 3,000 crore QIP response (18-09-2024)
SpiceJet’s QIP received strong investor response, with marquee investors like Madhu Kela’s family office participating. The company aims to raise Rs 3,000 crore but has exceeded the target. Other notable investors include Akash Bhanshali, Sanjay Dangi, Rohit Kothari, Discovery Fund, Plutus, Jupiter Fund Management, Think Investments, Tata Mutual Fund, and Bandhan Bank.
KRN Heat Exchanger IPO to open for subscription on September 25. Check details (18-09-2024)
The IPO of KRN Heat Exchanger will open for subscription on September 25 and will remain available until September 27. The price band for the issue, which involves a fresh equity sale of 1.55 crore shares, will be announced shortly. In this public offer, approximately 50% of the shares are reserved for qualified institutional buyers, 35% for retail investors.
Multibaggers: 11 stocks gain over 20% in each of the Oct-Dec quarters for the last 4 years (18-09-2024)
An ETMarkets study revealed 11 stocks listed on the BSE that have consistently gained more than 20% in every October-December quarter over the past four years.
ICICI Bank shares hit record high, m-cap tops Rs 9 lakh crore mark (18-09-2024)
ICICI Bank has crossed the Rs 9 lakh crore market capitalization mark for the first time, reaching a new all-time high on the BSE. The bank’s shares have surged nearly 30% this year. Anticipation of an interest rate cut in the US Fed meeting is seen as beneficial for banks and NBFCs.
Manba Finance Rs 150 crore IPO opens for subscription on Monday; price band set at Rs 114-120. Check details (18-09-2024)
The IPO is entirely a fresh issue of up to 1,25,70,000 shares, with no offer for sale component. The total size of the Rs 150.84 crore issue is determined by the upper price band.
Why US Fed is going to go for a 50 bps cut? Manish Singh explains (18-09-2024)
US Fed Rate Cut Meeting: Market expert Manish Singh discusses the Federal Reserve’s potential for a 50 basis point rate cut, citing the current inflation trends and the restrictive rates. He highlights the economic indicators supporting this move and its implications for the American economy, emphasizing that no recession is expected in the near term.
TCS, other IT stocks tumble up to 5% ahead of Fed meeting outcome (18-09-2024)
According to domestic brokerage firm JM Financial, the confirmed rate cut could affect the IT sector in three ways: by increasing stock values through a reduced cost of equity, boosting discretionary demand due to economic recovery, and enabling higher operational expenses due to lower interest burdens on companies