Page 553 - Markets

Ami Organics IPO to open on Sep 1; sets price band at Rs 603-610 per share

Speciality chemicals maker Ami Organics on Friday said it has fixed a price band of Rs 603-610 a share for its Rs 570-crore initial share sale. The three-day initial public offer (IPO) will open on September 1 and conclude on September 3, the company announced in a virtual press conference. The IPO comprises a fresh issue of equity shares worth Rs 200 crore and an offer for sale of up to 60,59,600 equity shares by existing shareholders. The company has reduced its fresh issue size to Rs 200 crore from Rs 300 crore after raising Rs 100 crore in a pre-IPO placement. At the upper end of the price band, the initial share sale is expected to fetch Rs 569.63 crore. Proceeds from the fresh issue will be used towards repayment of certain debt and funding working capital requirements. Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors. Ami Organics is one of the lea

Sebi disposes of proceedings against Fortis Healthcare's statutory auditor

Markets regulator Sebi has disposed of proceedings against statutory auditor of Fortis Healthcare in a matter pertaining to its alleged role in diversion of funds.

Sensex rises 176 pts to end above 56K for first time; BSE Midcap jumps 1%

The broader markets, meanwhile, outperformed, rising for the fourth straight session

Sudarshan Chemical soars 23% in 3 days after Axis MF buys stake in company

On August 24, 2021, Axis Mutual Fund A/c Axis Smallcap Fund purchased 589,498 equity shares, representing a 0.85 per cent stake of Sudarshan Chemical at a price of Rs 565 per share on the BSE

Carborundum Universal up 5% on pact to acquire controlling stake in PLUSS

The company has entered into a definitive agreement for acquiring a controlling stake in PLUSS Advanced Technologies Private Limited (PLUSS), at an initial investment of Rs 115 crore

L&T gains 4% as brokerage Motilal Oswal raises target price to Rs 1,950

L&T is top pick in the wider Capital Goods sector as a proxy to play India's capex story, the brokerage firm said

Laxmi Organic hits new high; stock zooms 52% in 3 weeks on robust Q1 show

The stock has 219 per cent against its issue price of Rs 130 per share

Zen Technologies hits 52-week high, zooms 30% in three days

Defence exports in the country witnessed strong growth in the last two years and India targets to export military equipment worth US $5 billion (Rs 35,000 crore) in the next five years

Stocks to watch: IDFC First Bank, Wipro, Infosys, Adani Green, BHEL

Adani Green has approved raising up to $750 million via bond sales overseas

Bull Spread strategy on M&M Financial by Nandish Shah of HDFC Securities

Short term trend of the stock has turned positive as it closed above its 10-and 20-day EMA

Two stock recommendations from Osho Krishan of Anand Rathi

Aurobindo Pharma has corrected over 35 per cent from its lifetime high and has plunged below all its major exponential moving averages

Bharti Airtel declines 2% as board to consider fund raising

The board will meet on August 29 to consider and approve raising funds via equity, equity-linked or debt instruments or a combination

China tech selloff accelerates as weak earnings spook investors

The Hang Seng Tech Index closed 1.9% lower in Hong Kong.

F&O expiry: Sensex ends choppy trade on flat note, gains 6% in Aug series

Sectorally, the metals pack bled the most, down 1.3 per cent, followed by the PSB Index (down 0.8 per cent)

KNR Constructions rallies 6% on dilution of entire stake in subsidiaries

The board approved dilution of entire stake held in material subsidiary companies, namely KNR Shankarampet Projects, KNR Srirangam Infra and KNR Tirumala Infra

CarTrade Tech hits new low since listing; down 11% from issue price

An increase in aggression by competition fueled by large amounts of global appetite to participate in this industry in India could impact the positioning of CarTrade Tech and its profitability

Hind Rectifiers zooms 37% in 2 days after Cassini Partners buys stake in co

On Wednesday, August 25, 2021, Cassini Partners L.P. purchased 98,612 equity shares, representing 0.59% of total equity of Hind Rectifiers at a price of Rs 181.90 per share via block deal on the NSE

Thermax gains 4% as subsidiary bags order worth Rs 293 crore

TBWES has concluded a Rs 293 crore order for a boiler package comprising 3 x Oil & Gas fired boilers on EPC basis for a refinery and petrochemical complex in western India

Stocks to watch: Airtel, Infosys, Ujjivan Small Finance Bank, Future Retail

Adani Green's Board will meet later today to consider and approve the fundraising plan while Affle (India's) Board will consider and approve stock split

SBI Balanced Advantage NFO gets Rs 12,000 cr, best ever among active funds

Officials in the company said they are expecting another Rs 1,000 crore as online applications will continue till midnight