Page 91 - Stock Market

Medi Assist's Rs 1,171 cr IPO subscribed 16.25 times on last day of bidding

The Initial Public Offering (IPO) of Medi Assist Healthcare Services received 16.25 times subscription on the last day of bidding on Wednesday. The Rs 1,171.57 crore-IPO received bids for 31,87,78,530 shares, against 1,96,19,719 shares on offer, as per NSE data. The category for Qualified Institutional Buyers (QIBs) got subscribed 40.14 times, while the portion for non-institutional investors fetched 14.85-times subscription. The quota for Retail Individual Investors (RIIs) got subscribed 3.19 times. The initial public offer was entirely an Offer-for-Sale (OFS) of up to 2,80,28,168 equity shares. It had a price range of Rs 397-418 a share. Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund. Medi Assist

HDFC Bank slide triggers worst day for market in last 18 months

The latest decline in the markets wiped Rs 4.59 trillion off investors' wealth. The India VIX -- gauge of volatility -- rose to its highest since March 2023, ending at 15.08

US stocks decline, Treasury yield gain as solid data dims rate cut hopes

All three major U.S. indexes were lower, with interest rate sensitive momentum stocks weighing heaviest on the tech-heavy Nasdaq

Market analysts expect 'quality, growth' stocks to make comeback in 2024

Value investing expected to lag after close to three years of outperformance

Stock market crash: Here's what sent Sensex, Nifty into free fall on Jan 17

Stock market crash today: HDFC Bank's disappointing Q3 performance abetted profit booking in Sensex and Nifty along with a global market rout as rate cuts-related optimism waned

Jindal Stainless announces Employee Stock Option Plan for senior officials

Jindal Stainless Ltd (JSL) on Tuesday announced an Employee Stock Option Plan (ESOP) for senior company officials. The primary objective of introducing ESOPs for 150 senior members is to attract, incentivise and retain talent, fostering a shared sense of ownership and aligning the interests of the employees with those of the organisation, the company said in a statement. JSL has granted 15,68,266 stock options, using the instrument of ESOPs and restricted stock Units (RSUs) in an equal mix, to eligible employees under the JSL Employee Stock Option Scheme 2023. The ESOPs will vest over a period of four years, alongside linkage to performance conditions, it said. "The implementation of ESOPs is a testimony of our intent to retain our people and make them true partners in our progress. Besides, it helps align the interests of our senior team with our long-term growth plans," Jindal Stainless Managing Director Abhyuday Jindal said.

Corporates mop up record Rs 9.58 trillion from market in 2023: Report

India Inc mopped up a record Rs 9.58 lakh crore from the market in 2023, registering an increase of 26 per cent from the year-ago period, according to market data. In 2022, fund mobilisation through corporate bonds on private placement basis stood at Rs 7.58 lakh crore, according to the data collated by Primedatabase. In terms of volume, Primedatabase said, adding there were as many as 920 issuers in 2023, which was 863 in the previous year. The data include both listed and unlisted debt which have tenor and put/call option of above 365 days. Pranav Haldea, the managing director of Primedatabase, attributed the surge to higher credit demand and liquidity constraints in the banking system. The highest mobilisation was made by the financial institutions and banks mopping up Rs 4.72 lakh crore, 29 per cent more than Rs 3.66 lakh crore raised in 2022. Also, the private sector mobilized 40 per cent more at Rs 4.45 lakh crore, compared to Rs 3.18 lakh crore in 2022, he said, adding ...

Stable macro, elevated earnings growth to support equities in 2024: Chawla

First half of the current financial year witnessed strong earnings growth of about 30 per cent for the Nifty50 index, says Chawla

Angel One Q3 results: Profit rises by 14% on jump in orders, clients

Consolidated profit was 2.60 billion rupees ($31.38 million) for the quarter ended Dec. 31, compared with 2.28 billion rupees a year earlier, according to an exchange filing

Investors subscribe 54% of Medi Assist IPO on 1st day of offering

The Initial Public Offer (IPO) of Medi Assist Healthcare Services received 54 per cent subscription on the first day of bidding on Monday. The Rs 1,171.57 crore IPO received bids for 1,05,68,425 shares against 1,96,19,719 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 89 per cent and the quota for non-institutional investors received 45 per cent subscription. The IPO is entirely an Offer for Sale (OFS) of up to 2,80,28,168 equity shares. It has a price range of Rs 397-418 a share. Medi Assist Healthcare Services, the Bessemer Ventures and Investcorp-backed third-party insurance administrator, on Friday raised Rs 351.5 crore from anchor investors. The selling promoters include company chairman Vikram Jit Singh Chhatwal, Medimatter Health Management, Bessemer Health Capital, and Investcorp Private Equity Fund. Medi Assist covers over 18,000 hospitals across 1,069 cities and 31 states and has 35 insurers as partners. Nuvama Weal

Quarterly earnings, global trends to guide equity mkts this week: Analysts

Movement in the equity market this week will largely be dictated by quarterly earnings of blue-chip firms HDFC Bank and Hindustan Unilever, along with the announcement of WPI inflation data and global trends, analysts said. Trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also guide the movement. "The focus will shift towards Q3 earnings, with key players such as HDFC Bank, HUL, Asian Paints, IndusInd Bank, and Ultratech Cement set to announce their results. Pre-Budget expectations are also likely to influence the sector and stock-specific movements," Santosh Meena, Head of Research, Swastika Investmart Ltd said. As the market gears up for the Budget, institutional flows will play a crucial role in determining its direction, he added. WPI inflation data for December is scheduled to be announced on Monday. "On the global front, macroeconomic data from the US and China, along with movement in the dollar index, US bond yields, and c

Nazara Technologies surges 8%, hits 52-week high on healthy outlook

For the first half (April to September) of the financial year 2023-24 (H1FY24), Nazara had reported 13 per cent year-on-year (YoY) growth revenue at Rs 551.7 crore

SpiceJet gets shareholder nod to raise Rs 2.2K cr by issuing equity

Mahapatra family now owns 21.94 per cent shares in SpiceJet; Ajay Singh's shareholding reduces from 56.48 per cent to 38.55 per cent

Polycab India's stock sees 21% rout on allegations of tax evasion

Company refutes allegations; stock may underperform in near term

With $2.8 trn mcap Microsoft overtakes Apple as most valuable company

Shares of Redmond, Washington-based Microsoft rose 1.5%, giving it market valuation of $2.888 trillion as early lead in race to make money from generative artificial intelligence helped draw investors

Investors subscribe Jyoti CNC Automation IPO 3.92 times on 2nd day

The Initial Public Offer (IPO) of Jyoti CNC Automation got subscribed 3.92 times on the second day of bidding on Wednesday. The IPO received bids for 6,87,09,015 shares against 1,75,39,681 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 11.08 times subscription while the portion for non-institutional investors got subscribed 6.49 times. The quota for Qualified Institutional Buyers (QIBs) attracted 22 per cent subscription. Jyoti CNC Automation on Monday raised Rs 448 crore from anchor investors. The IPO is entirely a fresh issue of equity shares worth up to Rs 1,000 crore. The public issue, with a price band of Rs 315-331 per share, will conclude on Thursday. Proceeds from the issue would be used for debt payment, funding the long-term working capital requirements of the company, and general corporate purposes. Jyoti CNC Automation is a manufacturer of Computer Numerical Control (CNC) machines. Its customers include ISRO, BrahMos ..

Barclays raises target on Europe's STOXX 600 to 510 from 485: Report

The new target represents a roughly 7 per cent upside from current levels

465 BSE stocks freeze in upper circuit; Network18, Motisons, ITL zoom 20%

Among individual stocks, Cochin Shipyard was up 20 per cent at Rs 802.40, also its record high on the BSE. The stock turned ex-date for the sub division of equity shares in the ratio of 2:1

Stocks to Watch: Delta Corp, Vedanta, KIOCL, Power Grid, M&M, IRCTC, Lupin

Stocks to Watch on January 10, 2024: The company reported 15 per cent YoY decline in Q3 consolidated revenue to Rs 231.7 crore. Net profit slumped 59 per cent to Rs 34.5 crore

Results preview: Nifty 50 earnings likely to enter slow lane in Q3

Brokerages have cut benchmark index's forward earnings estimates