Page 383 - Markets

TVS Supply Chain IPO subscribed 2.78 times on last day of subscription

The Initial Public Offer (IPO) of TVS Supply Chain Solutions, part of TVS Mobility Group, was subscribed 2.78 times on the last day of subscription on Monday. The Rs 880 crore IPO received bids for 6,98,68,624 shares against 2,51,22,289 shares on offer, according to NSE data. The category for Retail Individual Investors (RIIs) was subscribed 7.60 times, while the quota for non institutional investors received 2.35 times subscription. The category for Qualified Institutional Buyers (QIBs) got subscribed 1.35 times. The IPO had a fresh issue aggregating up to Rs 600 crore and an offer for sale of up to 1,42,13,198 equity shares. The IPO had a price range of Rs 187-197 per share. TVS Supply Chain Solutions on Wednesday said it has mobilised Rs 396 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiary TVS LI UK. Besides, funds will be used for inorganic growth strategy and

Sensex gyrates 696 pts, ends 79 pts up; Adani Ent down 3.5%, RIL gains 1.5%

Closing Bell on August 14, 2023: In the broader markets, the BSE MidCap and SmallCap indices underperformed the benchmarks as they fell 0.5 per cent each

SpiceJet back in black; posts Rs 205 crore profit in June quarter

No-frills carrier SpiceJet on Monday reported a net profit of Rs 205 crore in the three months ended June, helped by strong air travel demand. The airline, which is facing multiple headwinds, had recorded a net loss of Rs 789 crore in the year-ago period. In a release, SpiceJet said the profit of Rs 205 crore was on account of "strong demand for air travel in India". "Total operating revenue for the reported quarter was Rs 2,002 crore as against Rs 2,457 crore in the same quarter of the previous year," it said. In the first quarter of this fiscal, operating expenses declined to Rs 1,291 crore as against Rs 2,072 crore in the same period a year ago. SpiceJet Chairman and Managing Director Ajay Singh said that despite facing multiple challenges, the airline posted a profit in the first quarter of the current financial year. "I am pleased to have contributed to its growth by infusing Rs 500 crore into the company. This infusion will help bolster our efforts in reviving our grounded

In charts: Nifty Smallcap 250 outperforms all major indexes in July

Realty, Metals & Energy led the charge, rising 9% each. On the flip side, IT lagged with a modest 1% rise.

Nifty Bank: A close below 43,700 will trigger fresh round of selling

In such a case, further support for the Nifty Bank index is projected around 43,350, 42,600, and 41,500

Mcap of 7 of top 10 firms falls by Rs 74,603 cr, HDFC Bank biggest laggard

The combined market valuation of seven of the top 10 valued firms declined by Rs 74,603.06 crore last week, with HDFC Bank emerging as the biggest laggard. The BSE benchmark declined 398.6 points or 0.60 per cent last week. ICICI Bank, Hindustan Unilever, Infosys and ITC saw erosion in their market valuation while Reliance Industries, Tata Consultancy Services (TCS) and State Bank of India added to their market valuation. The valuation of HDFC Bank declined by Rs 25,011 crore to Rs 12,22,392.26 crore. ICICI Bank's market valuation eroded by Rs 12,781 crore to Rs 6,66,512.90 crore and that of Bharti Airtel fell by Rs 11,096.48 crore to Rs 4,86,812.08 crore. The valuation of Hindustan Unilever tanked Rs 10,396.94 crore to Rs 5,87,902.98 crore and that of ITC skidded by Rs 7,726.3 crore to Rs 5,59,159.71 crore. The market capitalisation (mcap) of Bajaj Finance declined by Rs 4,935.21 crore to Rs 4,27,996.97 crore and that of Infosys dipped Rs 2,656.13 crore to Rs 5,69,406.39 ...

TMS Ep497: Air India rebranding, tendering process, markets, deflation

Will the rebranding help Air India fly higher? Why is India's tendering process broken? What will guide markets this week? What is deflation? All answers here

TVS Supply Chain IPO gets fully subscribed on day two of subscription

The Initial Public Offer (IPO) of TVS Supply Chain Solutions, part of TVS Mobility Group, was fully subscribed on the second day of subscription on Friday. The Rs 880 crore IPO received bids for 2,58,46,384 shares against 2,51,22,289 shares on offer, translating into 1.03 times subscription, as per NSE data. The category for Retail Individual Investors (RIIs) received 3.62 times subscription, the non-institutional investors part got subscribed 1.02 times and the portion for Qualified Institutional Buyers (QIBs) 15 per cent. The IPO has a fresh issue aggregating up to Rs 600 crore and an offer for sale of up to 1,42,13,198 equity shares. The company's IPO is in a price range of Rs 187-197 per share. TVS Supply Chain Solutions on Wednesday said it has mobilised Rs 396 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 525 crore will be utilised for payment of debt availed by the company and its subsidiary TVS LI UK. Besides, funds will be used for inorgani

NCLT's nod to ZEE-Sony India merger will trigger stock re-rating: Analysts

Shares of Zee Entertainment Enterprises soared as much as 20 per cent on the BSE in Thursday's intra-day trade after the National Company Law Tribunal approved the company's merger with Sony India

ITC AGM, Q1FY24 nos: When will the stock breakout from consolidation mode?

ITC shares have corrected 10 per cent from their record high level of Rs 499.6, hit on July 24, 2023, as investors booked profit post the hotel business' demerger announcement

Sensex down for 2nd day, dips 365 pts; Nifty near 19,400; all but PSBs fall

CLOSING BELL ON AUGUST 11, 2023: 14 out of the Sensex 30 stocks declined over a per cent each, while HCL Tech gained 3 per cent on Friday.

Helios Capital gets Sebi's approval to launch mutual fund business

Helios Capital has received capital markets regulator Sebi's approval to launch a mutual fund business, Samir Arora, the main founder of the company announced. Helios Capital Management PTE Ltd, which is the business of portfolio management services, applied for a mutual fund licence with the Securities and Exchange Board of India (Sebi) in February 2021. "I am very happy to announce that Sebi has granted approval to Helios Mutual Fund...We need your wishes and support to make this new venture a success," Arora, who is also the fund manager at Helios Capital, wrote at X platform, formerly known as Twitter, on Thursday. After quitting Alliance Capital 20 years ago, Arora is re-entering the 43-player mutual fund industry. He was the Chief Investment Officer of Alliance Capital's Indian mutual fund business. In September 2022, Helios Capital received Sebi's in-principle approval to float the mutual fund business. Zerodha Broking Ltd and Old Bridge Capital Management Pvt Ltd are the

Alkem Labs sinks 9% in 2 days; FY24 India sales to miss double-digit growth

Alkem Labs reduced its India business revenue growth forecast to "high single-digit" from low double digits for FY24; BofA sees a downside of 15% to Rs 3,500 for the stock

PSU Bank index up 2% in weak market; IOB, UCO, Central Bank rally upto 15%

The Nifty PSU Bank index hit an intra-day high of 4,516.75, trading close to its record high level of 4,647.95 touched on July 27

Indian Overseas Bank soars 15% as Care Ratings assigns 'A1+' rating to CoD

The rating for Rs 10,000-crore certificate of deposits (CoD) factors-in the long track record of operations, comfortable capitalisation levels, diversified advances book and deposit base

MSCI Global Standard index review: Here's how each stock reacted to rejig

In the MSCI India Domestic SmallCap index, it added a total of 41 securities including Aether Industries, Avalon Technologies, Glenmark Life Sciences, Kalyan Jewellers, Star Health, and Sula Vineyard

Sensex ends 308 pts lower post RBI policy, Nifty near 19,550; Zee zooms 20%

CLOSING BELL ON AUGUST 10, 2023: Private bank and select auto stocks ended with notable losses after the RBI on Thursday asked banks to maintain Incremental Cash Reserve Ratio (ICRR) at 10 per cent.

Satellite TV firm Tata Play reports Rs 105 cr loss in FY23, plans IPO

Investor sentiment for offering may dampen due to company's performance, says one banker

Disa India zooms 20%, hits new high as profit more than doubles in Q1FY24

The company's revenue from operations grew 41 per cent to Rs 90.69 crore from Rs 64.19 crore in the corresponding quarter of previous year. EBITDA margin improved to 20.4 per cent from 14.0 per cent

MFSL up 12%; hits 52-wk high on Axis Bank buying balance stake in Max Life

Axis Bank said in a filing on Wednesday that it will raise its 9.99 per cent stake in Max Life to 16.22 per cent by infusing Rs 1,612 crores in the entity