Page 397 - Markets

Adani stocks still reeling from losses inflicted by Hindenburg report

While two of Adani's 10 stocks have bounced back strongly, a full recovery to pre-Hindenburg levels looks a ways away

IKIO Lighting IPO subscribed 1.55 times of Rs 606.5 cr on Day 1 of offer

The Initial Public Offer (IPO) of LED lighting solution provider IKIO Lighting received 1.55 times subscription on the first day of the share sale on Tuesday. The Rs 606.5 crore IPO received bids for 2,36,67,020 shares against 1,52,24,074 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 2.97 times, the portion for Retail Individual Investors (RIIs) received 1.64 times subscription and Qualified Institutional Buyers (QIBs) 30 per cent. The IPO has a fresh issue of up to Rs 350 crore and an Offer for Sale of up to 90 lakh equity shares. The price range for the offer is Rs 270-285 a share. On Monday, IKIO Lighting Ltd said it has mobilised Rs 182 crore from anchor investors. Proceeds from the fresh issuance worth Rs 50 crore will be used for debt payment, Rs 212.31 crore in the company's wholly-owned subsidiary IKIO Solutions to set up a new facility at Noida, Uttar Pradesh, and for general corporate purposes. IKIO Lighting is a ..

5 Adani Group stocks settle in positive; Ambuja Cements stock up 4.54%

Five of the ten listed Adani stocks ended in the positive territory on Tuesday after the group said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme. The stock of Ambuja Cements jumped 4.54 per cent, ACC rallied 2.47 per cent, Adani Power gained 1.37 per cent, Adani Ports advanced 0.89 per cent and Adani Green Energy climbed 0.51 per cent on the BSE. However, shares of Adani Transmission fell 1.55 per cent, NDTV went lower by 0.96 per cent, Adani Wilmar dropped 0.60 per cent, Adani Total Gas declined 0.45 per cent and Adani Enterprises dipped 0.01 per cent. In the equity market, the BSE benchmark ended flat in a volatile trade, marginally up by 5.41 points or 0.01 per cent at 62,792.88. Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monda

HBL Power rallies 10%; hits new high after nearly 7% equity changes hands

Till 02:50 PM; a combined 19.2 million equity shares, representing 6.9 per cent of total equity of HBL Power, had changed hands on the NSE and BSE

Maan Aluminium zooms 19% on bonus issue, stock split plan

The company said the board will meet on Friday, June 9, to consider bonus issue and stock split proposal

Capacite Infra surges 51% in 1 month on improved operational performance

The company said the project awarding has seen an uptick and will likely gain further momentum in the coming quarters

Stocks to Watch today, June 6: Adani Group, SBI, Maruti, HUL, Sejal Glass

Top Stocks to Watch on June 6, 2023: Adani Group said it has made a full prepayment of $2.15 billion of loans that were taken by pledging shares in the conglomerate's listed firms

Plutus Wealth acquires MTAR Technologies' shares for Rs 247 crore

Plutus Wealth Management on Monday acquired shares of MTAR Technologies for Rs 247 crore through an open market transaction. MTAR Technologies is a precision engineering solutions company. According to the bulk deal data available with the BSE, Plutus bought 13,15,000 shares of MTAR Technologies. The shares were purchased at an average price of Rs 1,880.02 apiece, taking the transaction value to Rs 247.22 crore. Meanwhile, promoters of MTAR Technologies -- Usha Reddy Chigarapalli, Anitha Reddy Dwaram and Kavitha Reddy Gangapatnam -- offloaded 11.20 lakh shares, amounting to 3.6 per cent stake in the firm. The shares were sold in the range of Rs 1,880-1,880.15 per piece, as per the bulk deal data. On Monday, shares of MTAR Technologies gained 0.19 per cent to close at Rs 1,896.90 each on the BSE.

Listed companies garner Rs 63,300-crore from equity, debt in April

Within the equity segment, funds mostly came from preferential allotment of equity shares with companies raising Rs 4,835 crore through the route

IKIO Lighting IPO collects Rs 182 cr from anchor investors at Rs 285 apiece

LED lighting solution provider IKIO Lighting Ltd on Monday said it has mobilised Rs 182 crore from anchor investors ahead of its initial share sale that opens for public subscription on Tuesday. The company has allotted 63.84 lakh equity shares to 16 funds at Rs 285 apiece, aggregating the transaction size to Rs 182 crore, according to a circular uploaded on the BSE website. Societe Generale, Citigroup Global Markets Mauritius, Goldman Sachs, Malabar India Fund, Quant Mutual Fund (MF), HDFC MF and ICICI Prudential MF are among the anchor investors. The issue, with a price band of Rs Rs 270-285 per share, will be open for public subscription during June 6-8. The IPO of the Noida-based firm consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity stocks by promoters Hardeep Singh and Surmeet Kaur. At the upper end of the price band, the initial share sale will fetch Rs 606.5 crore. Proceeds from the fresh issuance worth

Wipro shareholders approve Rs 12,000 cr share buyback at Rs 445 apiece

IT company Wipro shareholders have approved a share buyback programme worth Rs 12,000 crore, according to a scrutinizer report released on stock exchanges on Monday. The Wipro board had approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece. According to the Scrutinizer's report on the special resolution by way of postal ballot and e-voting process, 99.9 per cent voted in favour of the share buyback resolution. "The Chairman noted the results of voting as stated above and it was declared and recorded that the special resolution as set out in the Notice of Postal Ballot dated April 27, 2023, was duly passed by the shareholders on June 01, 2023, with requisite majority," the report said. The e-voting period commenced at in the morning of May 3 and ended at 5 pm on June 1. The Board of Wipro had approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares of the company for an aggregate amount not ...

Indices near record fresh lifetime highs as buoyancy returns to markets

The laggards include realty, power and IT stocks

Vinsys IT Services files draft IPO papers with NSE Emerge to get listed

Vinsys IT Services India on Monday said it has filed preliminary papers with NSE Emerge to raise funds through an initial public offering (IPO). The Pune-headquartered company plans to offer 38.9 lakh equity shares of Rs 10 each through the book-building process. The firm will be listed on NSE Emerge, a platform for small and medium enterprises, it said in a statement. Proceeds from the public issue will be utilised to meet working capital requirements, repayment of loan to subsidiary and for other general corporate purposes. The company has appointed Beeline Capital Advisors as merchant bankers to the issue. Marquee investors led by overseas funds, including NAV Capital Emerging Star Fund and xMultiplied, and domestic players, such as Nova Global Opportunities Fund, Aegis Investment Fund and Sambhavnath Investments, have invested in the company's pre-IPO funding. Vinsys provides a full suite of software service offerings, including ERP solutions, architectural consulting, ...

SBI Cards and Payment Services to raise Rs 3,000 crore through NCDs

The board approved raising of funds by way of issuance of NCDs in one or more tranches, on a private placement basis

Angel One client base jumps 44% in May, retail equity market share rises 4%

Angel One saw a 22.4 per cent rise in average daily orders to 4.12 million from 3.36 million last May

Indo Count hits 16-month high; surges 36% in four days on strong Q4 results

The stock price witnessed a healthy recovery in anticipation of gradual restocking by global retailers (home textile was the worst impacted) and India's market share gain in US bedsheet

Stock of this SME company zooms nearly 100% on market debut

The stock price of Hemant Surgical Industries (HSIL) nearly doubled or zoomed 99.5 per cent to Rs 179.55, against its issue price of Rs 90 per share on the BSE on Monday

Indian markets have limited upside in the near-term; buy the dips: Nomura

Nomura prefers domestic-oriented sectors and companies over exporters, and prefers stocks that provide valuation comfort

Tata Motors hits over 6-year high; up 40% thus far in 2023 on solid outlook

On June 2, Tata group signed an outline deal with the government of Gujarat to build a lithium-ion cell factory with an investment of about Rs 13,000 crore

Stocks to Watch on Monday, June 5: SBI Life, Hero Moto, Bajaj Finserv, NTPC

Stocks to Watch today, June 5, 2023: Brent crude related stocks could see considerable action today as oil prices jumped over 2 per cent overnight, and another 2 per cent Monday morning