Page 102 - Stock Market

Apple selloff deepens to $194 billion on China plans iPhone curbs

Shares of the Cupertino, California-based company fell as much as 3.2% premarket, after slumping 3.6% Wednesday

EMS Ltd raises Rs 96.37 crore from anchor investors ahead of its IPO

EMS Ltd on Thursday said it has raised Rs 96.37 crore from anchor investors ahead of its Initial Public Offering (IPO) that starts on Friday. The water and sewerage infra player has decided to allocate 45.67 lakh equity shares to six entities at Rs 211 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website. Abakkus Diversified Alpha Fund, Saint Capital Fund, Meru Investment Fund, Bofa Securities Europe, Morgan Stanley Asia Singapore Pte and NAV Capital VCC- NAV Capital Emerging Star Fund are among the anchor investors. The IPO comprises fresh issue of equity shares worth Rs 146.24 crore and an Offer For Sale (OFS) of 82.94 lakh shares by promoter and founder Ramveer Singh. Currently, Singh holds 97.81 per cent stake in the company. In the pre-IPO placement round, the firm had raised Rs 33.76 crore leading to a reduction in fresh issue size to Rs 146.24 crore from Rs 180 crore planned earlier. At the upper price band, the company

Mcap of BSE-listed firms climb to fresh all-time high of Rs 319.10 trn

The BSE benchmark recovered all the early lost ground and finally ended with a gain of 385.04 points or 0.58 per cent at 66,265.56

Hospital chain Jupiter Life IPO subscribed 3.3 times on day two of offer

The initial public offering (IPO) of multi-speciality hospital chain Jupiter Life Line Hospitals Limited was subscribed 3.30 times on day two of bidding on Thursday. The IPO received bids for 2,80,31,300 shares against 84,97,169 shares on offer, according to NSE data. The portion for non-institutional investors was subscribed 6.63 times, the quota for Retail Individual Investors (RIIs) was subscribed 3.08 times and the category for Qualified Institutional Buyers (QIBs) received 1.12 times subscription. The IPO has a fresh issue of equity shares worth Rs 542 crore and an offer for sale of up to 44.50 lakh equity shares. The offer is in a price range of Rs 695-735 a share. Jupiter Life Line Hospitals on Tuesday said it has raised Rs 261 crore from anchor investors. Proceeds of the fresh issue will be utilised to retire debt and for general corporate purposes. The hospital chain operates in Thane, Pune and Indore under the 'Jupiter' brand with a total bed capacity of 1,194 as of De

Stock brokers upset over strict penalties, meet NSE, Sebi officials

A senior official at one of the broker firms said that the penalties have had a severe effect on the brokers as they struggle to survive in the fiercely competitive financial landscape

India's $775 bn stock boom at risk as small caps show signs of overheating

Still, the pace of gains in smaller stocks relative to large caps has raised caution about the near-term outlook for the latest uptrend in Indian stocks

Capital Group offloads NBFC Shriram Finance's shares for Rs 884 crore

US-based financial services company Capital Group on Wednesday offloaded shares of NBFC Shriram Finance for Rs 884 crore through open market transactions. Capital Group through its investment vehicles SmallCap World Fund Inc and New World Fund Inc sold the shares of Shriram Finance on the BSE. According to the bulk deal data available with the BSE, SmallCap World Fund Inc offloaded 20,26,102 shares and New World Fund Inc disposed of 26,77,660 shares of Shriram Finance in two tranches. The shares were sold at an average price of Rs 1,880.28, taking the combined transaction value to Rs 884.43 crore. Details of the buyers could not ascertained. Shares of Shriram Finance fell 1.64 per cent to close at Rs 1880.70 apiece on the BSE.

Jupiter Life Line Hospitals IPO subscribed 87% on Day 1 of bidding

The Initial Public Offering (IPO) of multi-specialty hospital chain Jupiter Life Line Hospitals was subscribed 87 per cent on the first day of bidding on Wednesday. The IPO received bids for 73,84,800 shares against 84,97,169 shares on offer, according to NSE data. The category for non-institutional investors received 1.43 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 1.10 times and the Qualified Institutional Buyers (QIBs) part was subscribed 1 per cent. The IPO has a fresh issue of equity shares worth Rs 542 crore and an offer for sale of up to 44.50 lakh equity shares. Price range for the offer is Rs 695-735 per share. Jupiter Life Line Hospitals on Tuesday said it has raised Rs 261 crore from anchor investors. Proceeds of the fresh issue will be utilised to retire debt and for general corporate purposes. The hospital chain operates in Thane, Pune and Indore under the 'Jupiter' brand with a total bed capacity of 1,194 as of December

Sebi faces an uphill battle: Why 'finfluencers' will always find addicts

In a recently circulated consultation paper, Sebi vowed to "disrupt the revenue model" of "finfluencers" by forcing all regulated entities to cut ties with them

Jio Financial Services to be excluded from NSE indices from Sept 7

Jio Financial Services Limited, the demerged financial services unit of Reliance Industries, will be excluded from various indices of NSE, including the benchmark Nifty 50, from September 7. Shares of Jio Financial got listed on the stock exchanges on August 21, after its spin-off from parent Reliance Industries. In accordance with the index methodology, as JIOFIN has not hit price band on two consecutive trading days on September 4 and 5 at NSE, the Index Maintenance Sub Committee (Equity) of NSE Indices Ltd has decided to exclude JIOFIN from various indices effective from September 7, 2023 (close of September 6, 2023), as per a statement by NSE Indices Ltd on Tuesday. "It may be noted that if JIOFIN hits the price band on September 6, the exclusion shall not be deferred further," it added. Apart from Nifty 50, the company will be excluded from Nifty 100, Nifty 200, Nifty 500, Nifty50 Equal Weight, among others. NSE Indices had in July announced inclusion of Jio Financial Service

Ratnaveer Precision Engineering IPO subscribed 21.77 times on 2nd day

The Initial Public Offering (IPO) of Ratnaveer Precision Engineering received 21.77 times subscription on the second day of the share sale on Tuesday, driven by encouraging demand from institutional investors. The IPO received bids for 25,66,70,250 shares against 1,17,88,000 on offer, as per NSE data. The category for non-institutional investors was subscribed 42.22 times, the portion for Retail Individual Investors (RIIs) got subscribed 23.05 times and the quota for Qualified Institutional Buyers (QIBs) received 4.21 times subscription. The IPO is a combination of fresh issue and offer for sale. The offering of 1,68,40,000 equity shares has a fresh issue of 1,38,00,000 equity shares and offer for sale of up to 30,40,000 equity shares. The price range for the offer is Rs 93-98 per share. The company is a stainless steel washer manufacturer and supplier. Unistone Capital Private Ltd is the manager to the offer.

Higher growth, margin expansion likely to drive further gains for Emami

Valuations, reduction in share pledge are the other triggers for the stock

Lighthouse Advisors India sells 1.3% stake in Bikaji Foods for Rs 156 cr

Mumbai-based Lighthouse Advisors India on Tuesday divested a 1.3 per cent stake in Bikaji Foods International for nearly Rs 156 crore through an open market transaction. Lighthouse Advisors through its investment vehicle Lighthouse India Fund III sold the shares of Bikaner-based Bikaji Foods. According to the bulk deal data available with the BSE, Lighthouse India Fund III offloaded 32,42,070 shares, or a 1.3 per cent stake, in Bikaji. The shares were disposed of at an average price of Rs 480 apiece, taking the aggregate transaction value to Rs 155.62 crore. After the transaction, Lighthouse India Fund III's shareholding has declined to 1.4 per cent from 2.7 per cent, shareholding data with the BSE showed. Meanwhile, Plutus Wealth Management LLP acquired 13.5 lakh shares of Bikaji Foods International, while details of other buyers could not be identified. Shares of Bikaji Foods International jumped 6.12 per cent to close at Rs 511.70 apiece on the BSE. In a separate bulk deal on

Sebi likely to implement one-hour settlement of trades by March 2024

Markets regulator Sebi will introduce one-hour trade settlements by the end of this fiscal, in the run up to making such processes instantaneous, a top official said on Tuesday. Amid concerns raised by certain foreign portfolio investors on the shortening of the settlement cycles citing forex-related worries, the official made it clear that faster settlements are optional and investors can opt out. Securities and Exchange Board of India (Sebi) has adopted a roadmap towards realising its aim of making trade settlements instantaneous, the official told reporters. "From one day to one hour to instantaneous is the roadmap," the official said, adding one hour settlements are much quicker to implement than instantaneous. The official said technology for one hour trade settlements already exists and the regulator is confident about the same, while the instantaneous settlements need more technology development. At present, Sebi is thinking of rolling out the one hour trade settlement for

These two PSU stocks have zoomed 50% in last three days on heavy volumes

Shares of Indian Railway Finance Corporation (IRFC) and MMTC surged by up to 20 per cent on the BSE in Tuesday's intra-day trade on the back of heavy volumes

IDBI Bank surges 16% in 2 days as govt invites bids to appoint asset valuer

The government along with the Life Insurance Corporation of India (LIC) is selling nearly 61 per cent stake in IDBI Bank and has received multiple Expressions of Interest (EoI) for the same

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

Rising crude, uncertainty ahead of elections keep analysts wary on OMCs

Analysts say the already weakening marketing margins will be a concern ahead as the fate of OMCs remains tied to uncertain crude prices and the inability to raise prices amid the coming elections

Three IPL teams looking to unlock value by public listing, raising PE funds

A BCCI official said that the teams approached the board for clarity on listing on bourses. At the current moment, the discussions are in the initial stage