Godavari Biorefineries sets a price band for its Rs 555-crore IPO at Rs 334-352 per share. The offering comprises a fresh issue worth Rs 325 crore and an offer-for-sale of shares by existing shareholders. Proceeds aim to repay debt, with the company planning expansion amidst financial challenges.
Barrage of stock supply is latest test for Dalal Street (18-10-2024)
A surge in share supply from IPOs, such as Hyundai’s $3.3 billion listing, and institutional sales is pressuring Indian equities amid weak earnings and $7 billion in foreign investor outflows. Despite strong domestic investments, the NSE Nifty 50 Index is down over 5%.
‘Expanding access’: Supercharging credit market key to India’s $5 trn goals (18-10-2024)
Nothing illustrates that challenge better than the Rs 47 trillion ($559 billion) corporate bond market. It’s one of the world’s smallest as a percentage of gross domestic product, at just 16 per cent
Stock to Watch: Wipro shares in focus after co posts 21% YoY jump in Q2 PAT (18-10-2024)
Wipro Share Price: Wipro reports a 21% rise in net profit to Rs 3,209 crore for Q2 FY2024, surpassing estimates. Revenue from operations stood at Rs 22,302 crore, slightly down from last year. Outlook for Q3 anticipates IT Services revenue between $2,607 million to $2,660 million.
Indian markets poised for gap-down opening as FPIs sell ₹74,000 crore worth of equities in October (18-10-2024)
The options market reflects a bearish sentiment, with call writers dominating and key resistance at the 24,900 and 25,000 strike prices.
Stock to Watch: Zomato shares in focus as company announces fundraise plans via QIP mode (18-10-2024)
Zomato’s board meeting on October 22 to discuss equity share issuance via QIP and announce its September quarter earnings. Shares closed at Rs 270.30 on NSE. Q1 performance showed a net profit rise to Rs 253 crore, bolstered by Blinkit and Hyperpure contributions. Blinkit expands with 2,000 dark stores by 2026.