Govt gets good retail interest in Cochin Shipyard offer for sale: Dipam (17-10-2024)
The government on Thursday said it has received good interest from retail investors in the offer for sale (OFS) of Cochin Shipyard.
Through the two-day OFS, the government sold a 5 per cent stake or 1.3 crore shares in Cochin Shipyard.
Institutional investors on Wednesday over-subscribed the portion reserved for them. The issue opened for retail investors on Thursday.
“The second day of Cochin Shipyard Limited OFS closed with good interest from retail investors. We thank all investors for their participation,” Department of Investment and Public Asset Management Secretary Tuhin Kanta Pandey said on X.
The share sale is likely to fetch about Rs 2,000 crore to the exchequer.
The government currently holds 72.86 per cent of Cochin Shipyard.
Shares of Cochin Shipyard closed at Rs 1,559.80, down 1.81 per cent over the previous close on BSE.
UP bypoll on 10 seats: SP says Congress agrees to contest 2, state Cong chief ‘not aware’ (17-10-2024)
A Samajwadi Party spokesperson stated that their ally, Congress, agreed to contest only two out of 10 seats in the upcoming Uttar Pradesh bypolls, with SP vying for the rest. However, Congress state President Ajay Rai refuted this, insisting on contesting five seats.
Universal’s Epic Orlando Theme Park Will Open in May (17-10-2024)
Initial ticket packages for the new area of Universal Orlando Resort, the first new Florida theme park in a generation, will cost as much as $521.
Reservoirs with less than 50% storage down to single digit (17-10-2024)
Key dams’ water level unchanged at 87% of capacity this week
Manappuram Finance (17-10-2024)
Looks like market had a news, that’s why stock fell 25% in last 1-2 months.
Let’s see how much impact it has tomorrow and this week
The RBI had previously stated that it removed the cap on the interest rates that could be charged, so it’s unclear why there is now sudden concern about high interest rates. Especially since the RBI had earlier indicated that there is no upper limit for interest rates
Manappuram Finance (17-10-2024)
RBI cease and desist order on Ashirvad is very bad news for manappuram. Ashirvad is 25% of their loan book. Being short term loan, ashirvad loan book will run down at crazy speed. May lead to liquidity issue also
India’s rice procurement drops by a half during October 1-15 (17-10-2024)
Purchases for buffer stocks hit by storage and other issues in Punjab and Haryana
Manappuram Finance (17-10-2024)
Manappuram has historically been a highly volatile stock, which explains its lower valuation compared to Muthoot. The presence of Ashirvad Finance, a microfinance lender, has always been a concern. The true value and potential re-rating of Manappuram can only be realized after Ashirvad Finance is separately listed. Until then, the stock price is expected to remain volatile.