Page 92 - Stock Market

Jyoti CNC Automation IPO ends 1st day with 2.51 times subscription

The Initial Public Offer (IPO) of Jyoti CNC Automation was fully subscribed within hours of opening for bidding on Tuesday, largely helped by heavy participation from retail investors, and later ended the day with 2.51 times subscription. The IPO received bids for 4,40,01,675 shares against 1,75,39,681 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) got subscribed 8.25 times and that for non-institutional investors received 3.63 times subscription. The portion for Qualified Institutional Buyers (QIBs) got subscribed 2 per cent. 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 January 11. 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

Goldman Sachs bumps up benchmark Nifty 2024-end target to 23,500

The brokerage says the global macro environment has turned more favourable compared to two months ago with expectations of stronger US growth and optimism around rate cuts by the US Federal Reserve

Zee Entertainment shares plunge 8%, market valuation falls by Rs 2,036 cr

Shares of Zee Entertainment Enterprises tanked nearly 8 per cent on Tuesday amid uncertainty over the fate of the USD 10 billion merger between the company and Culver Max Entertainment, formerly Sony Pictures Networks India. The stock tumbled 12.66 per cent to Rs 242.30 during the day on the BSE. It ended at Rs 256.25 apiece, lower by 7.64 per cent. On the NSE, the stock plunged 13.60 per cent to Rs 240.30 during the day. Shares of the company ended at Rs 255.95 each, down 7.98 per cent. The company's market valuation fell by Rs 2,036.3 crore to Rs 24,613.31 crore. In volume terms, 105.74 lakh shares of the company were traded on the BSE and over 15.72 crore shares on the NSE during the day. The fate of the USD 10 billion-merger between Zee Entertainment Enterprises and Culver Max Entertainment is hanging by a thread, with the two parties unable to finalise an agreement as the end of the one-month grace period looms. The two parties are yet to come to an agreement over Zee ...

Mutual benefits

Increasing mutual fund flows is a win-win

Zee Ent tanks 13% in worst day since Feb 2023 as Sony may call off merger

The stock ended off lows after ZEEL issued a clarification and called news of the Zee-Sony merger termination baseless and factually incorrect

Mutual Fund assets go past Rs 50 trillion; SIP-tied AUM hits Rs 10 trn

The record AUM growth in 2023 was underpinned by a sharp rally in the equity market

Muted Q3 sales, stock rally limit upsides in Godrej Consumer Products

The company remains optimistic about a gradual uptick in consumption trends over the next calendar year

Adani Ports' first bond issue in over 2 yrs lapped up, more coming: Bankers

The fundraising follows the Supreme Court's decision that the group is not required to undergo additional investigations beyond the market regulator's current scrutiny

Now that we've built size, we'll focus on profitable growth: Upstox CEO

Not all new players, Kumar says, will be able to scale up profitably, and there will always be an opportunity for consolidation in the industry

Amid bull run, mutual fund assets soared 22% in December quarter

Data from the Association of Mutual Funds in India shows that the industry's average AUM for Q4CY23 was Rs 49.2 trillion, up from Rs 40.3 trillion in the same period of CY22

Consensus on framework for pricing transactions, deals important: Experts

Late in December, the market regulator sought comments on changes proposed in rumour verification norms through a discussion paper

Street signs: Nifty to see sell-on-rise pattern, Jyoti CNC GMP at 23%, more

The grey market premium (GMP) of Jyoti CNC, whose initial public offering (IPO) is opening on Tuesday, is at 23 per cent above its issue price

Unicommerce files draft papers with Sebi to raise capital through IPO

E-commerce-focussed IT firm Unicommerce has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The issue is entirely an offer for sale (OFS) aggregating up to 2.98 crore equity shares by the selling shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi. Under the OFS, SB Investment Holdings (UK) Ltd, an affiliate of Japan's SoftBank, will offload 1.61 crore shares, promoter AceVector Limited (formerly known as Snapdeal Limited) will sell up to 1.14 crore shares and B2 Capital Partners will be selling up to 22 lakh shares. Since the IPO is completely an OFS, the entire proceeds will go to the selling shareholders. Unicommerce eSolutions is the fifth tech company which has filed IPO papers. Awfis Space Solutions, Ola Electric, Firstcry, and MobiKwik are the other technology companies that have filed draft papers in the past two weeks. Founded in 2012, Unicommerce eSolutions is India's lea

Apple's 2024 slump puts world's most-valuable stock title at risk

Apple shares are up as much as 0.4 per cent on Friday, snapping a four-day streak of losses

Sensex gains 179 pts, Nifty holds 21,700 after a choppy ride; IT stocks up

Closing Bell on January 5, 2024: In the broader markets, the BSE MidCap index added 0.19 per cent, while the BSE SmallCap index gained 0.61 per cent

Nifty Realty, Nifty FMCG in overbought zone: Avoid fresh long positions

Investors may consider booking profits either at the CMP or during any subsequent rise in prices in Nifty Realty, as per Ravi Nathani

Multiple margin levers ahead for food delivery platform Zomato's stock

It had begun levying a convenience fee of Rs 2 per order from August 2023, which was subsequently raised to Rs 3 per order

Top 10 mutual funds' share in total AUM dips below 80%, shows analysis

These fund houses had an average AUM of Rs 38.8 trillion in the third quarter (Q3) of 2023-24, which is 79 per cent of the total industry AUM of Rs 49.2 trillion

Largecap, midcap cutoff surges over 26% in latest Amfi classification

PSUs dominate list of upgrades, 5 PSBs upgraded to largecaps in last 1 year

This Smallcap iron & steel maker has zoomed over 1700% in just 10 months

There were only buyers on the counter. A combined around 195,000 shares changed hands with pending buy orders for a combined 120,000 shares on the NSE and BSE