Sensex declined 73.48 points or 0.09 per cent to settle at 81,151.27, while Nifty dipped 72.95 points or 0.29 per cent to 24,781.10
Nuvama sees 23% upside potential in Prestige Estates, gives target price of Rs 2,175 (21-10-2024)
Supported by strong housing demand and a robust launch pipeline, Prestige Estates’ shares may rise 23%. Nuvama raised the target price to Rs 2,175 from Rs 2,136 while retaining a ‘buy’ rating. Strong housing demand and a robust launch pipeline across geographies in H2FY25 are likely to boost PEPL’s sales trajectory going ahead. Improvement in office demand and PEPL’s strengthened balance sheet post-QIP underpin our bullish stance on the company.
Niva Bupa Health Insurance, Paras Healthcare get Sebi’s nod to float IPOs (21-10-2024)
Health insurer Niva Bupa Health Insurance Company Ltd and Paras Healthcare Ltd, which runs the hospital chain under the ‘Paras Health’ brand, have received Sebi’s go ahead to raise funds through Initial Public Offerings (IPOs), an update with the markets regulator showed on Monday.
Niva Bupa Health Insurance Company is looking to garner Rs 3,000 crore through an initial share sale involving fresh issuance of equity shares and Offer for Sale (OFS) component. Paras Healthcare is aiming to raise Rs 400 crore through fresh issuance of equity shares, besides there is an OFS component.
The two companies, which filed their draft IPO papers with the Securities and Exchange Board of India (Sebi) during July-August, obtained its observations on October 18, the update showed.
In Sebi’s parlance, obtaining observation means its go ahead to float the public issues.
The equity shares of both companies proposed to be listed on the BSE and NSE.
Going by the draft papers, the proposed IPO of Niva
Afcons Infrastructure fixes price band of Rs 440-463 per share for IPO (21-10-2024)
Shapoorji Pallonji group firm Afcons Infrastructure Ltd on Monday said it has fixed a price band of Rs 440-463 per share for its Rs 5,430-crore Initial Public Offering (IPO), which will open for subscription on October 25.
The IPO is a mix of fresh issue worth up to Rs 1,250 crore and an offer of sale up to Rs 4,180 crore, Afcons Infrastructure said here.
The issue will close on October 29.
The issue price has been fixed in the range of Rs 440-463 apiece and investors can bid for a minimum of 32 equity shares and in multiples of 32 thereafter, the company said.
The proceeds from fresh issuance to the extent of Rs 80 crore will be utilised for capital expenditure for purchase of construction equipment; Rs 320 crore for funding long term working capital requirements and Rs 600 crore for prepayment or scheduled repayment of a portion of certain outstanding borrowings, among others, it said.
Investors including GIC Singapore, Enam Holdings (Akash Bhanshali), Synergy Capital, 360 One,
Stock market update: Nifty Realty index falls 1.4% (21-10-2024)
The Nifty Realty index closed 1.4 per cent down at 1032.65.
Rs 5 lakh crore wiped out as Sensex falls 73 points on profit-booking, Nifty ends below 24,800 (21-10-2024)
The BSE Sensex dropped 73 points to 81,151, while the NSE Nifty declined 73 points (0.29%) to 24,781. The market capitalization of all BSE-listed companies fell by Rs 5.06 lakh crore to Rs 453.09 lakh crore. Top laggards included Kotak Mahindra Bank and Bajaj Finance, while HDFC Bank and Reliance Industries gained.
RIL, HDFC Bank among 5 stocks with short covering (21-10-2024)
Short covering occurs when traders repurchase shares they had previously sold short, often in response to changes in market sentiment or new information. This typically leads to a reduction in open interest and can push the stock price higher. In Monday’s trading session, five stocks experienced short covering.
Stock market update: Nifty Pharma index falls 1.0% (21-10-2024)
The Nifty Pharma index closed 1.0 per cent down at 23122.7.
Quick Wrap: Nifty Media Index registers a drop of 2.83% (21-10-2024)
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