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Shree Tirupati Balajee Agro, Vraj Iron and Steel file IPO papers with Sebi

Shree Tirupati Balajee Agro Trading Company (STB), and Vraj Iron and Steel have filed their preliminary papers with Sebi to raise funds through initial share sales. The Initial Public Offering (IPO) of STB comprises a fresh issuance of up to 1.30 crore equity shares and an Offer For Sale (OFS) of up to 36.45 lakh shares by its promoter Binod Kumar Agarwal, as per the Draft Red Herring Prospectus (DRHP). In the case of Vraj Iron and Steel, the IPO will be entirely fresh issue of equity shares worth up to Rs 171 crore. According to its DRHP, STB will use the net proceeds from the fresh issue towards debt repayment by the company and its subsidiaries -- Honourable Packaging Pvt Ltd, Shree Tirupati Balajee FIBC and Jagannath Plastics. A portion of the proceeds will also be used towards funding the incremental working capital requirements of the company and general corporate purposes. Madhya Pradesh-based STB is into manufacturing and supplying of Flexible Intermediate Bulk Container

KPI Green Energy, Emmvee ink deal for 300 MW of solar panels purchase

KPI Green Energy and Emmvee ink a major deal: Agreement reached for the purchase of 300 Megawatts of solar panels

The consensus bullish forecast

Markets and economies are complex, emerging, adaptive systems

Delightful year for IPO investors as 54 of 59 issues return 45% on average

In a year when the key equity benchmarks scaled new highs and rallied nearly 20 per cent making investors richer by close to Rs 82 lakh crore, IPO investors laughed all the way to the bank as 55 of the 59 issues gave them handsome returns of 45 per cent on average. In fact, 2023 turned out to be an outlier for primary market investors when 59 companies hit the street, raising Rs 54,000 crore, and returned over 45 per cent more than the issue prices on average, according to exchange data. This means that more than two-thirds of companies outperformed benchmark indices which rallied close to 20 per cent in the year. The average listing gain for all the 59 IPOs is 26.3 per cent and their average gain as of December 29 is 45 per cent and only four of the 59 main-board IPOs are traded below the issue price on the trading session of the year on December 29. As much as 23 of the 59 issues rallied more than 50 per cent since listing and of them, nine gave more than two-fold gains over the

Stock market investor base surges, UP upends Gujarat from the 2nd position

UP surpassed Gujarat to take the second position in 2023 by adding 33.8 per cent of new stock market investors

Record eight-year winning streak seen extending for Indian equities

That's the key takeaway from an informal Bloomberg News survey of 10 fund managers and strategists, seven of whom said the NSE Nifty 50 Index will rise in 2024

Airtel to seek reversal of Rs 24.9 lakh penalty order received under CGST

Bharti Airtel on Tuesday said it does not agree with an order it received under the Central Goods and Services Tax Act for levy of Rs 24.94 lakh penalty, and will take suitable action for rectification or reversal. The violation pertains to alleged irregular input tax credit claim from 2017-18 to 2021-22 and other related matters, Airtel said in a BSE filing. Submitting details of the orders received by the company under the Central Goods and Services Tax Act, Airtel said the order was received on December 24. The order entails a levy of a penalty of Rs 24,94,316, it said, adding, "the company does not agree with the order and will take appropriate action for rectification/reversal of the same." "The maximum financial impact is to the extent of the penalty levied," it said.

Market holiday: BSE and NSE to remain closed today on account of Christmas

Indian exchanges like NSE, BSE, MCX, and the bond market will remain shut on the account of Christmas, this is the last market holiday on a trading day in this calendar year

Indices snap 7-week winning streak; Sensex, Nifty dip despite Friday gains

Profit booking after the excellent run was cited as the primary reason for this week's market rout

Pramod Agrawal to take charge as BSE's new Chairman from January 17

The board of BSE had approved the appointment on December 13 while the market regulator granted its approval on Tuesday

Sebi likely to relax new disclosure norms around rumour verification

Legal experts said that as such disclosures will have a bearing on stock prices there is a need for tweaks in regulations addressing fraudulent trade practices

Zydus Noveltech dissolved for not generating 'meaningful revenue'

It had nil operating revenue and a net worth of Rs 10 crore as of March 31, 2023

LIC sells 2% stake in Dixon Technologies; shareholding drops to 3%

Dixon Technologies India Limited reported a 2% decrease in holding from 5.012% to 3% during the period from April 20, 2022 to December 15, 2023 at an average cost of Rs 5877.65

At Rs 3 trillion, corporate guarantees highest in 4 years but far from peak

Despite this steep rise, total outstanding corporate guarantees are still 28 per cent lower than the record high of Rs 4.23 trillion at the end of FY14

Adani Green Energy announces incorporation of two step down subsidiaries

Adani Green Energy on Friday announced the incorporation of two step down subsidiaries Adani Renewable Energy Fifty Six Ltd and Adani Renewable Energy Fifty Seven Ltd. "Adani Renewable Energy Holding Nine Ltd, a wholly-owned subsidiary of the company, has incorporated two wholly-owned subsidiaries, namely, Adani Renewable Energy Fifty Six Ltd (ARE56L) and Adani Renewable Energy Fifty Seven Ltd (ARE57L) on December 14, 2023," a BSE filing stated. Both step down subsidiaries have authorised as well as paid-up share capital of Rs 1 lakh each. The main objective of the new subsidiaries is to generate, develop, transform, distribute, transmit, sale, supply any kind of power or electrical energy using wind energy, solar energy or other renewable sources of energy, as per the filing. Adani Renewable Energy Holding Nine Ltd, a wholly owned subsidiary of the company, holds 100 per cent share capital of ARE56L and ARE57L. The new subsidiaries were registered with the Registrar of Companies,

Market cap of BSE-listed firms jumps to record high of Rs 354.41 trillion

The market capitalisation of BSE-listed companies surged to an all-time high of Rs 354.41 lakh crore in early trade on Thursday, with investors becoming richer by Rs 3.22 lakh crore, as the benchmark Sensex hit its all-time high level driven by a rally in global equities. Global markets rallied after the US Federal Reserve kept its key interest rate unchanged and signalled that they expect to make three quarter-point cuts to their benchmark interest rate next year. The 30-share BSE Sensex jumped 955.4 points to hit its all-time peak of 70,540 during the early trade. The market capitalisation (mcap) of BSE-listed firms hit a record high of Rs 3,54,41,617.18 crore during the early trade. Investors' wealth climbed by Rs 3,22,385.27 crore from Rs 3,51,19,231.91 crore on Wednesday. Among the Sensex firms, Infosys, HCL Technologies, Bajaj Finance, Tech Mahindra, Wipro and IndusInd Bank were the major gainers. Power Grid, Asian Paints, Nestle and Hindustan Unilever were among the ...

Tata group companies, Larsen & Toubro top mcap gainers in market boom

The construction and engineering major Larsen & Toubro (L&T), however, tops in terms of percentage gains as the company added an additional Rs 2.4 trillion, or 49.1 per cent

Manu Ahuja, MD &CEO of Jubilant Agri and Consumer Products, passes away

Ahuja was appointed as MD and CEO in May 2018. Manu Ahuja was an alumnus of XLRI Jamshedpur and Thapar Institute of Engineering, Patiala

BSE-listed firms' market valuation touch record high of Rs 337.67 trillion

The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 337.67 lakh crore (USD 4 trillion) on Friday amid a rally in equities, mainly on account of favourable macroeconomic data and continuous foreign fund inflows. Rising for the fourth straight day, the 30-share BSE Sensex jumped 492.75 points or 0.74 per cent to settle at 67,481.19 points. During the day, it rallied 575.89 points or 0.85 per cent to 67,564.33 points. In four days, the benchmark index has surged 1,511.15 points or 2.29 per cent. Amid the optimistic trend in equities, the market capitalisation of BSE-listed firms soared to Rs 337.67 lakh crore, translating to USD 4 trillion at the exchange rate of 83.30. In four days of the market rally, investors' wealth have gone up by Rs 8.95 lakh crore. The combined market valuation of all listed companies on the BSE reached the USD 4 trillion-milestone for the first time ever on Wednesday. The 30-share benchmark hit its all-time peak of 67,927.2

Tata Technologies IPO listing tomorrow: Here's what the experts expect

Tata Technologies IPO subscription: It was subscribed 69.43 times as of the final day of subscription on November 24, driven by high participation from institutional buyers