Page 100 - Stock Market

Manoj Vaibhav's IPO subscribed nearly 58% on the second day of offer

The initial public offer of Manoj Vaibhav Gems N Jewellers was subscribed 58 per cent on day two of bidding on Monday. The initial share sale received bids for 53,05,203 shares against 91,20,664 shares on offer, as per NSE data. The retail individual investors (RIIs) part received 73 per cent subscriptions while the category for non-institutional investors subscribed 57 per cent. The quota for qualified institutional buyers (QIBs) was subscribed 33 per cent. The IPO has a fresh issue of up to Rs 210 crore and an offer for sale of up to 28,00,000 equity shares. The price range for the offer is Rs 204-215 per share. The company mopped up Rs 81.05 crore from anchor investors on Thursday. The company, a regional jewellery brand in South India, has a presence in Andhra Pradesh and Telangana, with 13 showrooms across eight towns and two cities. The funds raised will be utilised for opening eight new showrooms, inventory for these new stores and general corporate purposes. Bajaj Capit

Most valuable India firm RIL hits oversold level after six-month gap

The stock dropped 0.7% to 2,339.50 rupees in provisional close on Monday, poised to breach its 200-day moving average

Capitalise on the industry insight by investing in its sector fund

Choosing such a fund based on recent returns can, however, jeopardise portfolio performance

Nomura India buys Cholamandalam Financial shares worth Rs 166-crore

Nomura India Investment Fund Mother Fund on Friday bought shares of Cholamandalam Financial Holdings Ltd worth Rs 166 crore through an open market transaction. According to the bulk deal data available with BSE, Nomura India Investment Fund Mother Fund purchased 14,51,000 shares of Cholamandalam Financial Holdings. The shares were acquired at an average price of Rs 1,145.30 apiece, taking the transaction size to Rs 166.18 crore. Meanwhile, promoter of Cholamandalam Financial Holdings Ambadi Enterprises Ltd offloaded 10.58 lakh shares at an average price of Rs 1,151.02. This took the deal value to Rs 121.80 crore. Shares of Cholamandalam Financial Holdings fell 0.97 per cent to close at Rs 1,191.75 apiece on BSE.

Sai Silks Rs 1,201-crore IPO subscribed 4.40 times on last day of bidding

The Initial Public Offering (IPO) of ethnic apparel retailer Sai Silks (Kalamandir) was subscribed 4.40 times on the last day of bidding on Friday. The Rs 1,201 crore-initial share sale received bids for 16,94,58,544 shares against 3,84,86,309 shares on offer, according to data available with the NSE. The quota for Qualified Institutional Buyers (QIBs) received 12.35 times subscription while the quota for non-institutional investors was subscribed 2.47 times. The category for Retail Individual Investors (RIIs) was subscribed 88 per cent. The public issue had a fresh issue of up to Rs 600 crore and an offer for sale of up to 2.70 crore equity shares. Price range for the offer was Rs 210-222 a share. The IPO of Sai Silks (Kalamandir) was subscribed 33 per cent on the second day of offer on Thursday. On Monday, Sai Silks said it has raised over Rs 360 crore from anchor investors. The Hyderabad-based company was founded by Prasad Chalavadi, a techie turned entrepreneur in 2005. It

BSE to discontinue stop loss market orders from Oct 9 to check freak trades

Leading stock exchange BSE has decided to discontinue Stop Loss Market (SL-M) orders from October 9 to prevent erroneous order placement arising out of manual or algo trades. This came after a recent freak trade incident caused a lot of angst among the trading community earlier this month due to an SL-M order. SL-M is a type of order that automatically sells or buys a security at the market price when the trigger price is reached. "As a measure to prevent erroneous order placement, stop loss orders with market condition in equity segment, equity derivatives segment, currency derivatives segment, and commodity derivatives segment shall be discontinued by the exchange with effect from October 9," BSE said in a notice. Welcoming the decision, Narendra Solanki, Head, Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers, said it is a good step to prevent erroneous orders and should prove beneficial to small and retail traders as such freak trades harm and cre

Disney shares Fall over 3% after doubling park spending to $60 billion

Disney said it has seen record growth in customer spending at parks over past two years, and significant decrease in number of tickets it sells at a discount, compared with before pandemic

Updater Services' IPO starts Sept 25, with fresh issue of up to Rs 400 cr

The initial share sale of integrated facilities management company Updater Services Ltd will open for public subscription on September 25. The three-day Initial Public Offering (IPO) will conclude on September 27 and the bidding for anchor investors will open on September 22, according to the Red Herring Prospectus (RHP). The IPO will comprise a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer for Sale (OFS) of up to 80 lakh equity shares by a promoter and existing shareholders. Under the OFS, Tangi Facility Solutions Private Ltd, India Business Excellence Fund-II and India Business Excellence Fund-IIA will be selling shares of the company. Proceeds from the fresh issue will be used for payment of debt, funding working capital requirements, pursuing inorganic initiatives and general corporate purposes. The company offers integrated facilities management services and business support services to its clients. It caters to customer segments across sectors such

Instacart goes from supermarket to stock market, raising $660 mn with IPO

Instacart is heading from the supermarket to the stock market. The San Francisco-based grocery delivery company raised USD 660 million in its initial public offering of stock, selling 22 million shares at USD 30 apiece. Its shares were set to begin trading on Tuesday on the Nasdaq stock exchange under the stock symbol CART. The pricing of the IPO gave Instacart a market value of around USD 10 billion, significantly lower than the USD 39 billion value placed on it after a fund-raising round in 2021. Instacart provides delivery and pickup from 85 per cent of US grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers. It also provides in-store technology, like smart carts and electronic shelf tags, and sells online ads to food companies and retailers. It says it has 7.7 million active customers who spend about USD 317 per month on the platform. In a letter to investors earlier this month, Instacart CEO Fidji Simo said grocery delivery has tremendous potent

Sebi levies Rs 65 lakh fine on 5 individuals for insider trading violation

Sebi on Monday levied fines totalling Rs 65 lakh on five individuals for flouting insider trading norms in the matter of ABC Bearings Ltd. The regulator slapped a fine of Rs 20 lakh on Jaisingh Sudhirkumar Choudhary, Rs 15 lakh on Menal Rasesh Parikh and Rs 10 lakh each on Himanshu K Desai, Anirudh R Parikh and Sudhirkumar Choudhary. The order came after Sebi conducted a detailed investigation into the matter to ascertain whether trading was done in the scrip of ABC Bearings by certain suspected entities on the basis of unpublished price-sensitive information (UPSI) relating to the merger of ABC Bearings with Timken India Ltd for the period January-July 2017. In its order, the Securities and Exchange Board of India found that Himanshu, who had been representing Parikh & Shah (P&S), the statutory auditor of ABC Bearings had attended meetings pertaining to the proposed merger and was in possession of UPSI, therefore he was an insider. "I note that Himanshu had access to UPSI ...

Sensex caught at the crease on 12th day; investors await Fed rate decision

Index heavyweights HDFC Bank, Reliance Industries and Infosys dragged the markets lower on Monday

Zaggle Prepaid IPO subscribed 12.57 times on last day of subscription

The Initial Public Offering (IPO) of fintech player Zaggle Prepaid Ocean Services Ltd was subscribed 12.57 times on the last day of subscription on Monday. The initial share sale got bids for 24,28,83,090 shares against 1,93,26,761 shares on offer, according to data available with the NSE. The category for Qualified Institutional Buyers (QIBs) was subscribed 16.73 times while the portion for non-institutional investors received 8.85 times subscription. The quota for retail individual investors got subscribed 5.94 times. The IPO had a fresh issue of up to Rs 392 crore and offer for sale of up to 10,449,816 equity shares. The company's IPO had a price range of Rs 156-164 a share. Zaggle Prepaid Ocean Services on Wednesday said it mobilised Rs 253.52 crore from anchor investors. The company proposes to utilise Rs 300 crore of the net proceeds on expenditure towards customer acquisition and retention, up to Rs 40 crore on expenditure for the development of technology and products, an

Jupiter Life Line makes strong debut; lists at 32% premium over issue price

Post-listing, the stock extended gains and moved 40 per cent higher to Rs 1,028 over its issue price

Stocks euphoria in Indian market draws warning from top-performing fund

The chief investment officer at Nippon Life India Asset Management Ltd. says it's increasingly difficult to find opportunities in the $3.8 trillion market, where benchmarks have just hit record highs

Who's fairest of them all? In fund managers' mirror, both small & midcaps

INOX Wind, BSE, and RPG Life Sciences have entered the landscape of equity MFs' holdings

NSE to introduce IRRA platform to address technical glitches, outages

To address technical glitches or outages, the National Stock Exchange will introduce an Investor Risk Reduction Access (IRRA) platform for trading members. In December last year, Sebi asked stock exchanges and clearing corporations to put in place a platform to help investors in case there is a disruption of services caused by systems belonging to trading members. The regulator asked them to make the platform operational by October 1. The IRRA platform will be available to trading members supporting internet-based trading (IBT) and Security Trading through Wireless Technology (STWT) for their investors. However, it will not be accessible for algo trading and institutional clients. The IRRA will be accessible to trading members across exchanges starting from October 3, 2023, according to an NSE circular. "To ensure seamless business continuity, trading members (TMs) are advised to maintain an updated disaster recovery (DR) site. "However, if both the primary and disaster recovery s

Everstone Capital sells 25.3% stake in Burger King owner for Rs 1,494 crore

A promoter of Restaurant Brands Asia, which owns Burger King brand in India, on Friday divested a 25.3 per cent stake in the firm for Rs 1,494 crore through an open market transaction. Everstone Capital through its investment vehicle Qsr Asia Pte Ltd offloaded the shares of the Restaurant Brands Asia on the NSE and the latter is a part of Singapore-headquartered Everstone Group. Amal N Parikh, Tata Mutual Fund (MF), Quant MF, Plutus Wealth Management LLP, Franklin Singapore 3 Banken Asia Stock-Mix, Avendus Absolute Return Fund, ICICI Prudential Life Insurance, Goldman Sachs, TD Emerging Markets Fund and Societe Generale, among others were the buyers of the shares. According to the block deal data available with the NSE, Qsr Asia Pte sold 12,54,41,820 shares, amounting to a 25.3 per cent stake in Restaurant Brands Asia. The shares were disposed of at an average price of Rs 119.10 apiece, taking the transaction value to Rs 1,494 crore. After the transaction, Qsr Asia Pte's sharehold

Mahindra & Mahindra surges 3%; market cap touches Rs 2 trillion-mark

Along with a strong order book in the SUV segment and a leading position in the domestic tractor segment, M&M is now gradually introducing its global portfolio to expand its addressable market

Oil India share jumps 6%, rebounds to 1-year high after 3 weeks: Read why

With crude crossing $94 per barrel, upstream companies like OIL will benefit from higher net crude realisations; company also exploring ways to repatriate its dividends worth $150 million from Russia

Bajaj Auto zooms 5% to hit new high, tops Rs 5000 on BofA's double-upgrade

Thus far in the calendar year 2023, the stock price of Bajaj Auto has appreciated by 41%, as compared to a 10.7% rise in the S&P BSE Sensex and a 27.7 per cent surge in the S&P BSE Auto index