India on Monday announced the results for the country’s first critical mineral auction. Amid the tepid response from big players, the list of successful bidders included some lesser known names. A total of five companies secured bids for six critical mineral blocks of graphite, manganese, phosphorite, lithium, and rare earth elements with auction premiums ranging from 13.05 per cent to 400 per cent.
Posts tagged Rediff
Sensex, Nifty settle at new all-time highs (26-06-2024)
Among the 30 Sensex companies, Reliance Industries, Bharti Airtel, UltraTech Cement, Sun Pharma, Adani Ports, Axis Bank, NTPC and Bajaj Finance were the biggest gainers. Mahindra and Mahindra, Tata Steel, Tech Mahindra and JSW Steel were among the laggards.
IPO-bound startups find favour with investors (26-06-2024)
The tide of startup-funding is turning in India, with a rising trend of overall funding while the deal sizes grow bigger. However, the spotlight now is on late-stage startups, many of which are seen to be headed for initial public offerings (IPOs). Record surge in stock markets and consistently improving performances of listed startups are understood to have turned the sentiment for the better, especially for those that exhibit a clear path to an IPO.
Early ‘end of season’ sale amid muted demand (26-06-2024)
The spring/summer end-of-season sales have been advanced by a week with brands having high inventories due to weak demand in May because consumers avoided shopping in the hot month.
Analysts bullish on Nykaa’s outlook for beauty biz (26-06-2024)
FSN E-Commerce Ventures (Nykaa) hosted its annual investor day recently. The responses were positive from analysts. Although some analysts pared FY25 and FY26 estimates, the bulk continued to issue ‘buy’ calls after the stock rose 2.5 per cent. The management expects the Beauty and Personal Care (BPC) business to grow at a 25 per cent compound annual growth rate (CAGR) during FY24-28.
Q4 margin, recovery hopes drive Campus Activewear (26-06-2024)
From its lows over the past month, the stock of footwear major Campus Activewear gained 13 per cent to Rs 280.4 a share. The gains came on the back of better than expected operating profit margins in Q4, reduction of debt and expectations of market share improvement. The company expects volume growth, which has thus far missed expectations, to recover going ahead on the back of multiple triggers.
How Front-Running Hurts MFs, Investors (26-06-2024)
Cases of front-running mostly happen when large asset managers and intermediaries are involved in bulk trades as their transaction size is generally big enough to impact the stock price.
Spectrum auction ends with bids worth Rs 11,000 crore (26-06-2024)
Spectrum auction for mobile radiowaves services worth Rs 96,000 crore ended with bids worth about Rs 11,000 crore, according to sources. The government has put over 10,500 Mhz spectrum in eight frequency bands — 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
Bidders of Haldiram seek clarity on ownership of brand (26-06-2024)
The prospective bidders of Haldiram Snacks Foods (HSFPL), a leading food firm, have sought clarity on the ownership of the brand as it is currently owned by different family factions. The Delhi and Nagpur families have decided to merge their operations and formed a joint venture to sell part of their stake. On the other hand, the Kolkata family runs its separate, independent operations. Bankers said prospective bidders of the company do not want any confusion over the brand in future. They have sought clarity over usage of the brand.
FM May Stick To Fiscal Deficit Target (26-06-2024)
‘Any finality in such matters requires political views. We will review it closer to the full Budget.’