Nupur Extrusion has ordered two extrusion press machines from international suppliers, targeting a production capacity of 5,000-6,000 tons by FY 2025-26
Share price of Divis Labs falls as Sensex drops 293.37 points (16-10-2024)
A total of 5,774 shares changed hands on the counter till 01:39PM (IST)
Hyundai Motor India Limited – HMIL (16-10-2024)
Why are Hyundai’s promoters launching the largest IPO in Indian history?
The primary reason is to take home more than $3 billion. This is a 100% offer-for-sale issue, meaning no funds are being raised for business expansion or working capital. The promoters are merely reducing their stake.
They plan to raise nearly $1 billion from anchor investors, who will have a lock-in period of 30 days for 50% of their holdings and 90 days for the remaining 50%.
That’s one aspect of the story.
The second part is that the IPO is priced at a reasonable P/E ratio of 26, which is moderate and not overly expensive.
Given this scenario, where the IPO comes at a fair valuation but is purely an offer-for-sale with no funds allocated for growth, there’s a good chance that anchor investors might exit once their lock-in period ends.
These are just key points to consider, not a recommendation to apply or skip the IPO.
I personally will wait for its listing and see couple of quarterly results. Wont be bate of FOMO.
Caste, community equations among considerations in Mahayuti MLC nominations (16-10-2024)
Ahead of the Maharashtra assembly polls, the ruling Mahayuti nominated seven members to the legislative council. The nominations include representatives from various communities. This was done to maintain balance and avoid any potential rebellion. BJP, Shiv Sena, and NCP have nominated members. The state cabinet and Governor approved the names before the swearing-in ceremony.
Bharat Forge Ltd down for fifth straight session (16-10-2024)
Bharat Forge Ltd is quoting at Rs 1464.35, down 1.09% on the day as on 13:19 IST on the NSE. The stock jumped 30.61% in last one year as compared to a 26.1% rally in NIFTY and a 56.35% spurt in the Nifty Auto index.
MRF Ltd drops for fifth straight session (16-10-2024)
MRF Ltd is quoting at Rs 129687.8, down 1.02% on the day as on 13:19 IST on the NSE. The stock jumped 16.96% in last one year as compared to a 26.1% rally in NIFTY and a 56.35% spurt in the Nifty Auto index.
Varun Beverages shares decline 0.51% as Sensex slides (16-10-2024)
A total of 63,501 shares changed hands on the counter till 01:33PM (IST)
129 mn Indians living in extreme poverty in 2024 (16-10-2024)
Almost 129 million Indians are living in extreme poverty in 2024, on less than $2.15 (about Rs 181) a day, down from 431 million in 1990, the World Bank said in report on Tuesday. However, with a higher poverty standard of $6.85 (about Rs 576) per day – the poverty threshold for middle-income countries – more Indians are living below the poverty line in 2024 than in 1990, primarily driven by ‘population growth’. Earlier, the World Bank had said that extreme poverty in India had declined by 38 million in 2021 to 167.49 million after growing in the preceding two years.