Vedanta Resources is delaying a potential dollar bond sale due to market instability caused by the indictment of Adani Group’s founder. Despite holding investor calls, Vedanta might postpone the offering until next week, hoping for yield stabilization. The delay highlights the broader market impact of the Adani situation, as investors exercise caution amidst the uncertainty.
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Rahul Gandhi’s demands probe against Adani’s ‘protector’ Madhabi Puri Buch (21-11-2024)
Congress leader Rahul Gandhi has demanded the arrest of businessman Gautam Adani following allegations of bribery and fraud in the US. Gandhi also called for the removal and investigation of SEBI chief Madhabi Puri Buch, accusing her of protecting Adani.
UPL shares in demand after Alpha Wave Global buys 12% stake in subsidiary (21-11-2024)
Shares of agrochemical firm, UPL gained up to 3 per cent at Rs 563.30 a piece on the BSE in Thursday’s intraday deals
Auto component maker Belrise Industries files for Rs 2,150 crore IPO (21-11-2024)
Automotive component maker Belrise Industries has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,150 crore through an initial public offering (IPO).
The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).
The company may consider raising up to Rs 430 crore through a pre-IPO placement. If this is carried out, the issue size will be reduced.
As per the draft papers filed on Tuesday, the company intends to utilise proceeds worth Rs 1,618 crore for payment of debt.
The company has a borrowing of Rs 2,463 crore in its books as of June 2024.
Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles.
As of June 2024, it marketed its products both domestically and internationally,
Energy stocks edge lower (21-11-2024)
Energy stocks were trading in red, with the BSE Energy index decreasing 149.39 points or 1.37% at 10784.58 at 13:41 IST.
Utilties stocks slide (21-11-2024)
Utilties stocks were trading with losses, with the BSE Utilities index decreasing 160.81 points or 2.8% at 5573.96 at 13:41 IST.
FMCG shares slide (21-11-2024)
FMCG stocks were trading with losses, with the BSE Fast Moving Consumer Goods index falling 303.6 points or 1.47% at 20312.7 at 13:41 IST.
Concord Control Systems – An SME railway stock (21-11-2024)
#ConcordControl reports Strong H1FY25.
.Revenue: ₹50 Cr vs ₹30 Cr, H2 at ₹35 Cr
PBT: ₹12 Cr vs ₹8 Cr, H2 at ₹9 Cr
PAT: ₹8.6 Cr vs ₹6 Cr, H2 at ₹6.8 Cr
#ConcordControl released an investor presentation
