Page 379 - Markets

Raymond surges 10%, hits record high on healthy business outlook

Brokerage firm Motilal Oswal Financial Services has initiated coverage on the stock with a 'BUY' rating and a target price of Rs 2,600 per share

Vishnu Prakash makes strong debut; lists 67% higher over its issue price

The stock listed at Rs 165, a 67% premium over its issue price of Rs 99 per share on the NSE

Jio Financial recovers losses; EMS sets price band at Rs 200-211 for IPO

In the pre-IPO placement round, the Ghaziabad-based firm raised Rs 33.76 crore

Surprise election outcome in May can see markets tank 40%: Morgan Stanley

The defining moment, Desai said, could be if and when the 26-party opposition alliance, known as I.N.D.I.A., is able to strike a seat-sharing deal

Govt sells 36,250 ton buffer onion in mandis of 12 states in last 3 weeks

The government on Monday said 36,250-tonne onion from its buffer stock has been released in the wholesale markets in 12-odd states and Union territories at prevailing rates in the last three weeks to arrest rising retail prices of the key kitchen staple. National Cooperative Consumer's Federation of India Ltd (NCCF) and National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) have been mandated to sell buffer onion in wholesale and retail markets. They have also been asked to procure additional onion from farmers to increase the buffer stock quantities from the current 3 lakh tonne to 5 lakh tonne this year. Speaking to PTI, Consumer Affairs Secretary Rohit Kumar Singh said: "The government will go all out to ensure no undue rise in prices by following a two-pronged approach of releasing our buffer stock onion in the wholesale and retail markets". Since August 11, a total of 35,250 tonne of buffer onion has been released in the wholesale markets. Out of which NCC

Sensex ends 241 pts higher, Nifty reclaims 19,500; IT, Metal stocks shine

CLOSING BELL ON SEPTEMBER 04, 2023: In the broader market, the BSE MidCap and the SmallCap indices gained close to a per cent each on Monday.

Nifty 50: 3 ways in which the index could move, near-term target & more

The expectation is that the Nifty50 index will continue to perform well in the short and medium term, with the potential for reaching new highs

Mcap of seven of top 10 firms falls Rs 62,279 cr; Reliance biggest laggard

The combined market valuation of seven of the top 10 valued firms eroded by Rs 62,279.74 crore last week, with Reliance Industries taking the biggest hit. While Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, ITC, State Bank of India and Bharti Airtel were the laggards from the top 10 pack, HDFC Bank, Infosys and Bajaj Finance were the gainers. The market valuation of Reliance Industries fell by Rs 38,495.79 crore to Rs 16,32,577.99 crore. Hindustan Unilever's valuation tumbled Rs 14,649.7 crore to Rs 5,88,572.61 crore and that of Bharti Airtel declined by Rs 4,194.49 crore to Rs 4,84,267.42 crore. The market capitalisation (mcap) of ITC went lower by Rs 3,037.83 crore to Rs 5,50,214.07 crore and that of ICICI Bank dipped Rs 898.8 crore to Rs 6,78,368.37 crore. The mcap of TCS diminished by Rs 512.27 crore to Rs 12,36,466.64 crore and that of State Bank of India dropped by Rs 490.86 crore to Rs 5,08,435.14 crore. However, the valuation of HDF

FPI inflows hit 4-month low at Rs 12,262 cr in Aug on resurfacing inflation

After pouring a whopping amount into Indian equities in the past three months, foreign investors have slowed down the pace of inflow to Rs 12,262 crore in August on higher crude oil prices and resurfacing of inflation risks. "FPIs are adopting a 'wait and watch' approach rather than making a complete U-turn. There continues to be uncertainty in the global economy and the underlying scenario is fast changing. This will make the flows from FPIs volatile," Himanshu Srivastava, Associate Director - Manager Research, Morningstar India, said. According to the data with depositories, Foreign Portfolio Investors (FPIs) invested a net amount of Rs 12,262 crore in Indian equities in August. This figure includes investment through the primary market and bulk deals, which have been gathering momentum recently. This is the lowest investment in the last four months. Before this investment, FPIs invested over Rs 40,000 crore each in the past three months in Indian equities. The net inflow by FPIs

US Federal Reserve likely done with rate hikes as job market cools

Futures that settle to the Fed's policy rate had already priced in only a slight chance of a rate hike this month

Rishabh Instruments IPO subscribed 31.65 times on last day of bidding

The Initial Public Offering (IPO) of global energy efficiency solution company Rishabh Instruments was subscribed 31.65 times driven by heavy demand from institutional buyers on the last day of bidding on Friday. The IPO received bids for 24,65,71,162 shares against 77,90,202 on offer, as per the NSE data. The category for Qualified Institutional Buyers (QIBs) received a whopping 72.54 times subscription, while the quota for non-institutional investors got subscribed 31.29 times and Retail Individual Investors (RIIs) 8.44 times. The IPO comprises a fresh issue of equity shares aggregating up to Rs 75 crore and an Offer For Sale (OFS) of up to 94.3 lakh equity shares by its promoter group shareholders and an existing investor. The company has fixed a price band for the IPO at Rs 418-441 per share. On Tuesday, the company said it raised Rs 147.23 crore from anchor investors. Proceeds from the issue worth Rs 59.50 crore will be used towards financing the expansion of its manufacturi

Aug auto sales: Maruti scales new high; M&M m-cap nears Rs 2 trillion

Maruti Suzuki (up 4% at Rs 10,390) and M&M (up 2% at Rs 1,604.55) hit their respective new highs, and rallied up to 9% in the past five days as compared to a less than 1% rise in the S&P BSE Sensex.

MTAR Tech surges 23% in 2 days on receiving Defence Industrial Licence

MTAR Tech is targeting a revenue growth of 45 per cent to 50 per cent in FY24, backed by robust order book with an Ebitda of 28 per cent

Metal stocks shine; Tata Steel, Hindustan Copper, SAIL surge up to 5%

The key steel consuming sectors are expected to perform well in FY24, supported by a rise in infrastructure spend by the Government and gradually improving semiconductor supply

Stocks to Watch today, Sept 1: RIL, Vedanta, LIC, Five Star Business, Autos

Stocks to Watch today, September 1, 2023: Vedanta ran a "covert" lobbying campaign to weaken key environmental regulations during the Covid-19 pandemic, the OCCRP said in an article on Thursday

Markets see 70% chance of Modi-led BJP forming the next govt: Jefferies

Out of the last four national elections, the previous two elections results were more on the expected lines, yet the Indian market outperformed MSCI AxJ during the election results period

Rishabh Instruments IPO subscribed by 2.46 times on Day 2 of offer

The initial public offer of global energy efficiency solution company Rishabh Instruments was subscribed 2.46 times on the second day of the offer on Thursday. The Initial Public Offer (IPO) received bids for 1,91,33,738 shares against 77,90,202 shares on offer, as per the NSE data. The category for Non-Institutional Investors (NIIs) was subscribed 4.65 times, while the portion for Retail Individual Investors (RIIs) was subscribed 2.79 times. The quota for Qualified Institutional Buyers (QIBs) was subscribed 22 per cent. The offer was subscribed 73 per cent on the first day of subscription on Wednesday. The IPO comprises a fresh issue of equity shares aggregating up to Rs 75 crore and an Offer For Sale (OFS) of up to 94.3 lakh equity shares by its promoter group shareholders and an existing investor. The company has fixed a price band for the IPO at Rs 418-441 per share. On Tuesday, Rishabh Instruments said it has raised Rs 147.23 crore from anchor investors. Proceeds from the

Sebi extends timeline for public comments on account aggregator proposal

Sebi on Thursday extended the deadline to September 15 for submission of public comments on a proposal putting in place additional measures for the account aggregator framework to curb misuse of financial information like fraud and mis-selling. The Securities and Exchange Board of India (Sebi) had placed a consultation paper on August 1 seeking comments on the proposal by August 31. "It has been decided to extend the timeline for submission of comments to September 15," the regulator said in a notice. An Account Aggregator (AA), a RBI-regulated Non-Banking Finance Company (NBFC), helps an individual securely and digitally access and share information from one financial institution they have an account with to any other regulated financial institution in the AA network. AAs cannot see or store customer data since the data processed through them is encrypted, they merely transmit it from one financial institution to another based on a customer's direction and consent. In its ...

Aeroflex Industries shares jump 51% in debut trade on issue price of Rs 108

Shares of Aeroflex Industries made a strong debut on Thursday and ended the day with a premium of 51 per cent against the issue price of Rs 108. The stock began the trade at Rs 197.40, up 82.8 per cent from the issue price on the BSE. During the day, it hit an intra-day low of Rs 162.10 apiece. Shares of the company finally ended at Rs 163.15 per piece, rallying 51.06 per cent. On the NSE, shares of the company made its debut at Rs 190, witnessing a sharp uptick of 75.93 per cent. It later settled at Rs 163.60 apiece on the bourse. The company commanded a market valuation of Rs 2,109.86 crore. On the volume front, 33.15 lakh equity shares were traded on the BSE and nearly 3.61 crore shares on the NSE, during the day. In the equity market, the 30-share BSE Sensex settled 255.84 points or 0.39 per cent lower at 64,831.41 points, while Nifty fell 93.65 points to close at 19,253.80 points. The Initial Public Offer (IPO) of Aeroflex Industries was subscribed 97.07 times on the last da

SpiceJet up 20% in 3 months despite analysts' skepticism; should you buy?

SpiceJet news: So far this calendar year, shares of SpiceJet have fallen 20 per cent, while they have tumbled 33.16 per cent over the last one year