Page 82 - Stock Market

Breakout stocks: JK Lakshmi Cement, Karnataka Bank can zoom up to 8% ahead

There has been a breakout in Karnataka Bank from downward sloping trend line on the daily chart. Price breakout is accompanied by rising volumes, as per Vijay Rajani

Nifty Financial, Nifty PSU Bank on an uptrend: How should you trade?

To confirm a positive breakout, investors should wait for the Nifty Financial Services index to break above 20,960 on a closing basis, says Ravi Nathani

Investors subscribe R K Swamy's Rs 423 cr IPO 6 times on day 2 of bidding

The initial public offer of integrated marketing services firm R K Swamy received 6 times subscription on the second day of bidding on Tuesday. The Rs 423.56 crore-IPO got bids for 4,94,64,550 shares against 82,32,946 shares on offer, according to NSE data. The category for Retail Individual Investors (RIIs) received 18.28 times subscription while the portion for non-institutional investors got subscribed 9.71 times. The quota for Qualified Institutional Buyers (QIBs) fetched 37 per cent subscription. The initial public offer (IPO) has a fresh issue of up to Rs 173 crore and an offer for sale component of up to 87,00,000 equity shares. The IPO has a price range of Rs 270-288 a share. RK Swamy Ltd on Friday said it has collected Rs 187 crore from anchor investors. Funds raised through the fresh issue would be used for setting up a digital video content production studio, establishing new customer experience centres and computer-aided telephonic interview centres as well as for gen

RBI bars JM Financial Products from financing against shares, debentures

"This action is necessitated due to certain serious deficiencies observed in respect of loans sanctioned by company for IPO financing as well as NCD subscriptions," RBI said

Big Basket aims to turn profitable in 8 months, eyes for IPO in 2025

The Tata group-owned online grocer Big Basket is eyeing to come out with an initial public offering in 2025 after turning profitable, a top official said on Tuesday. The Bengaluru-based company, a part of Tata Digital, will turn profitable in another 6-8 months, once the newly launched 'BB Now' vertical starts making money, its co-founder and chief executive Hari Menon told reporters here. When asked about plans for an IPO, he said, "We will probably have it in 2025. But we are leaving it to the Tatas, there cannot be anybody better to guide us and advise us on that." He hinted that the issue will include both primary and secondary share sales, but did not share any more details. The business requires capital for ongoing investments which be raised from the Tata Group in the run-up to the IPO, he said, adding that a bulk of the investments are in technology, marketing and people. The company, which competes with similar offerings from Amazon and Flipkart, is targeting to close FY2

Bajaj twins, IT shares drag Sensex 195 pts, Nifty near 22,350; TaMo up 3.6%

Stock market highlights on March 5, 2024: Tata Motors advanced 3.58 per cent, Bharti Airtel added 3 per cent, and SBI 1.6 per cent

JG Chemicals IPO over-subscribed on day 1: Analysts upbeat on its prospects

The company is the country's largest zinc oxide producer and among the top ten globally, as per CARE Analytics. Its domestic market share in the key product was around 30 per cent as on March 2022

Platinum Industries lists at 33% premium over issue price in strong debut

Post listing, Platinum Industries hit a high of Rs 237 and a low of Rs 219 in intra-day trade. At 10:14 am; it was trading at Rs 221.20, about 29 per cent higher over its issue price.

Exicom Tele-Systems makes robust debut; lists 86% higher over issue price

Exicom's IPO was subscribed 133.56 times, with non-institutional investors (NII) leading from the front as they bid 159.29 times their allotted quota

Tata Motors tops Rs 1,000; surges 5% on demerger plan of CV, PV businesses

While the demerger seems to be a step in the right direction, Motilal Oswal Financial Services said they do not foresee any need to revisit its target price

JG Chemicals collects Rs 75 crore from anchor investors ahead of IPO

Zinc oxide manufacturer JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors, a day before its initial public offering (IPO). The company has allotted 34.09 lakh shares to four funds at Rs 221 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website. At this price, the company has garnered Rs 75.36 crore from anchor investors. Massachusetts Institute of Technology, Carnelian Structural Fund, Pinebridge Global Funds and SBI General Insurance Company were among the anchor investors. The initial share sale, with a price band of Rs 210-221 apiece, will open for public subscription during March 5-7. The Rs 251.2 crore IPO comprises a fresh issue of equity shares worth up to Rs 165 crore and an offer-for-sale (OFS) of 39 lakh equity shares aggregating to Rs 86.2 crore, at the upper end of the price band, by the promoter group. As part of the OFS, Vision Projects & Finvest Pvt Ltd, Suresh Kumar Jhunjhunwala .

Benchmarks end flat, Smallcaps decline; energy, metal, IT stocks slip

Stock market live updates on March 4, 2024: JSW Steel, Tata Steel led losses among largecaps after CLSA downgraded the two stocks to 'sell', reducing their target prices

CLSA downgrades prompt selling in Tata Steel, JSW Steel after 3-day rally

Tata Steel had made a new record high of Rs 156 in Saturday's special session on March 2. In the last three days, prior to today's losses, the stock had rallied 8 per cent

MOIL soars 12% on reporting 15% YoY jump in manganese ore output for Feb

For April-February, the production of Mn ore has been 15.84 lakh tonnes, which also marks the highest ever output in a financial year, it said

Nikkei hits 40,000 mark; what's behind the bull-run in Japanese markets?

The Nikkie benchmark index has been experiencing an unprecedented rally, as it achieved an all-time high for the first time in 34 years last month

This state-run power generation large-cap has zoomed 102% so far in FY24

NTPC rallied 4 per cent to hit a fresh high of Rs 354 ahead of the foundation stone ceremony for its various projects worth Rs 30,023 crore by PM Modi today

Mkts to focus on trends of foreign investors in holiday-shortened week

Trends in the global markets, trading activity of foreign investors and announcement of domestic macroeconomic data are the major factors that would drive investors' sentiment in a holiday-shortened week ahead, analysts said. Benchmark indices had a record-breaking rally in the past week driven by impressive GDP data. Equity markets would remain closed on Friday for Mahashivratri. "Key upcoming events, such as the release of the US services PMI on March 5, 2024, testimony by the US Fed Chair Powell, along with the US unemployment rate on March 8 will be closely watched for their potential impact on market sentiment. "Crude oil is also inching higher, and any negative surprise from there can disturb the mood of the market. However, the market is ignoring any bad news and continuing its bullish momentum," said Santosh Meena, Head of Research, Swastika Investmart Ltd. From the domestic macroeconomic front, PMI (Purchasing Managers' Index) data for the services sector is scheduled to

Stocks to Watch: Axis Bank, Info Edge, Matrimony, Hero Moto, Coal India,NLC

Stocks to Watch on March 2, 2024: Axis Bank will raise up to Rs 4,000 crore via NCDs. The base issue is worth Rs 1,000 crore and the green shoe option will be Rs 3,000 crore

Bharat Highways InvIT IPO subscribed 8 times on last day of offer

The Initial Public Offer (IPO) of Bharat Highways InvIT received 8 times subscription on the last day of offer on Friday. The IPO received bids for 82,53,24,300 units against 10,30,12,800 units on offer, according to data available with the NSE. The portion for institutional investors got subscribed 8.92 times and the other investors' portion received 6.93 times subscription. The IPO, aggregating up to Rs 2,500 crore, had a price range of Rs 98-100 per unit. Bharat Highways InvIT on Tuesday said it collected Rs 826 crore from anchor investors. Proceeds from the issue will be utilised to provide loans to the project SPVs (Special Purpose Vehicles) for repayment of their outstanding loans. Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. Its initial portfolio consists of seven road assets, all operating on HAM (Hybrid Annuity Model) basis, in Punjab, Gujarat, Andhra Pradesh, ...

Sensex, Nifty hit record highs: 4 factors behind the rally on March 01

The S&P BSE Sensex hit a record high of 73,819, while the Nifty50 touched 22,353 intraday