Page 33 - Stock Markets

Virtual Galaxy Infotech raises Rs 21.44 cr ahead of IPO, to file DRHP soon

Virtual Galaxy Infotech on Tuesday said it has raised Rs 21.44 crore in its pre-IPO funding round from marquee investors. The company is now gearing up to file its Draft Red Herring Prospectus (DRHP) with the stock exchange to launch its SME IPO, the company said in a statement. Former RARE Enterprise Managing Director Devnanthan Govind Rajan, ex-director of Electra Partners Asia Fund Jayaraman Vishwanathan, and former COO & CFO of Yes Bank Asit Oberoi are among the investors who participated in the funding round. Other investors include M Srinivas Rao, former MD at the Bill and Melinda Gates Foundation, India, Umesh Sahay and Abhishek Narbaria, Co-Founders of EFC(I); Darshan Gangolli, former Executive Director at Altico Capital (Real Estate Fund); Abhishek More, Founder and CEO of Digikore Studios; and Amit Mamgain, Senior VP of Equity Sales at AMSEC. The company has appointed Shreni Shares as the merchant banker for the public offering. Virtual Galaxy Infotech is a Hybrid SaaS .

Strategy in bull run: Time to book profits, protect equity market gains

Sell and bring allocations back to original levels in those segments of your portfolio that have become bloated

Top common stock market myths: The truth versus reality; fact-check here

The raging bull market has resulted in increasing faith in narratives and myths and declining focus on numbers and facts, said Kotak Institutional Equities in its July strategy report.

Investors subscribe Nephro Care India IPO by 716 times offer size

The initial public offering (IPO) of Nephro Care India was subscribed 715.85 times on Tuesday, helped by heavy participation from institutional investors. The Rs 41.26 crore initial share sale received bids for 2,23,00,38,400 shares against 31,15,200 shares on offer. The portion for non-institutional investors received 1,787.56 times subscription, the quota for retail individual investors subscribed 634.12 times, as per the NSE data. Additionally, the quota for qualified institutional buyers received 245.14 times subscription, and employee portion was subscribed 20.44 times, bringing the overall subscription to 715.85 times. The Kolkata-headquartered healthcare provider said on Friday raised Rs 11.14 crore from anchor investors. The IPO comprises fresh issuance of 45.84 lakh equity shares. Shares were available for public subscription in the range of Rs 85-90 per scrip. The kidney care provider intends to utilise Rs 26.17 crore of the IPO proceeds for setting-up a multi-speciali

Macroeconomic data, global trends to drive markets this week: Analysts

Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues. "Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy. The upcoming Union Budget in July has become the next focal point, with high expectations for growth-oriented policies," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. Market sentiment will be gauged by closely monitoring foreign and domestic institutional investors' activity (FII and DII) and crude oil prices, he said. On the global front, the US market has experienced some profit-booking from higher levels. Key ..

New product launches may continue to fuel GSK Pharma's robust growth

GSK Pharma's recent good showing is on expectations that launches in the specialty segment, increasing investments in promotions and branding

TBO Tek zooms 6% on Goldman Sachs buy call; stock up 82% from issue price

Goldman Sachs has an optimistic outlook on TBO Tek with a target price of Rs 1,970 per share

Investors subscribe IPO of DEE Development Engineers 99 times offer size

The initial public offer of piping solutions provider DEE Development Engineers got subscribed 98.98 times on the last day of subscription on Friday. The Rs 418 crore initial share sale got bids for 1,47,92,58,933 shares against 1,49,44,944 shares on offer, according to NSE data. The portion for Qualified Institutional Buyers (QIBs) received a whopping 201.91 times subscription while the category for non-institutional investors got subscribed 143.43 times. The part for Retail Individual Investors (RIIs) received 22.52 times subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 325 crore and an offer for sale of up to 45,82,000 equity shares. The price range for the offer is Rs 193-203 per share. Dee Development Engineers Ltd on Tuesday said it has mobilised a little over Rs 125 crore from anchor investors. Of the Rs 325 crore fresh issue proceeds, Rs 175 crore will be used for payment of debt, Rs 75 crore for funding working capital requirements, and the rema

Valuation of Coromandel International stock captures positive outlook

The overall revenue for March quarter came in at Rs 3,910 crore and was down 29 per cent Y-o-Y, due to lower subsidy and reduced volumes in the fertilizer segment

Sebi slaps penalty on OP Jindal Group's firm Hexa Tradex, other entities

Markets regulator Sebi on Tuesday levied penalties totalling Rs 35 lakh on OP Jindal Group's firm Hexa Tradex Ltd, its promoters and directors for flouting delisting norms and other disclosure rules. The regulator slapped fines within the range of Rs 2-5 lakh on Hexa Tradex, its chairperson Raj Kamal Aggarwal, Ravinder Nath Leekha, Vinita Jha, Girish Sharma, and Pravesh Srivastava. They are collectively referred to as noticee. Siddeshwari Tradex Pvt Ltd, Innox Global Multiventures, Opelina Sustainable Services, and JSL Ltd, were the promoter entities of Hexa Tradex Ltd, which were also penalised by the markets regulator. Pursuant to a complaint received by the Securities and Exchange Board of India (Sebi) in July 2022. The regulator conducted an examination with respect to the delisting of Hexa Tradex Ltd (HTL), a BSE and NSE-listed company. Based on the complaints received, Sebi had initiated the proceedings against the noticees to inquire into and adjudge the alleged violations o

Eid holiday: Are stock markets NSE & BSE open for trading on June 17?

Trading on the Indian stock market will resume on Tuesday, June 18, according to the BSE and NSE websites

EIH Associated Hotels greenlights bonus share issue; Stock surges 9%

Shares of EIH Associated Hotels, the flagship company of the Oberoi Group soared up to 9.4 per cent at Rs 925 per share

Asia stocks rally, bond yields fall as investors assess Fed outlook

Japanese shares underperformed and the yen inched down against the dollar, as the Bank of Japan began its two-day policy meeting

Trident shares rally 7% as unit acquires stake in step down subsidiary

Trident Home Textiles, the wholly owned subsidiary of Trident, made further investment in its wholly owned subsidiary namely Trident Global BV

Buzzing: IRB Infra block deal, Vi Board meet, RVNL, Raymond order win

Stocks to Watch on Tuesday, June 11, 2024: Domino's, a franchise of Jubilant FoodWorks, opened its 2000th store in the country on Monday

Investors' wealth surges Rs 21 trn in two days of stock market recovery

Dalal Street investors became richer by Rs 21 lakh crore in two days of a sharp rally in the stock market, where the BSE benchmark surged over 4 per cent. The 30-share BSE Sensex jumped 692.27 points or 0.93 per cent to settle at 75,074.51 on Thursday. In intra-day trade, the benchmark soared 915.49 points or 1.23 per cent to 75,297.73. In two days, the BSE benchmark surged 2,995.46 points or 4.15 per cent after Tuesday's massive rout. Thanks to the optimistic trend in equities, the market capitalisation of BSE-listed companies climbed Rs 21,05,298.11 crore to Rs 4,15,89,003.38 crore (USD 4.98 trillion) in two days. "With the poll-related uncertainty now almost over and the NDA ready to form the government, the mood remained upbeat for the second straight session as Sensex crossed the psychological 75k mark on the back of a splendid all-round buying support. "With the buoyancy returning to the market, the fear gauge volatility index also eased considerably and fell 11 per cent," s

Indian shares seen opening slightly higher as Modi set for third term

The National Stock Exchange of India handled the highest ever number of transactions in a single trading day on Wednesday, with 19.71 billion orders and 285.5 million transactions

Ab ki baar NDA Sarkar? Analysts turn 'defensive' on India after LS polls

Stock market strategy: Considering that the NDA forms the government, analysts believe it will pursue a balanced economic growth model, giving equal emphasis on investment and consumption growth

PGIM India MF remains overweight, with bias for long-duration govt bonds

Indian bonds are set to be included in JPMorgan's emerging market debt index from the end of this month and markets expect passive inflows worth around $25 billion

Hindalco slumps 6% on deferring Novelis IPO amid valuation concerns

Novelis Inc, Hindalco Industries' US subsidiary, postponed its initial public offering (IPO) for the time being due to market conditions, the company said in an exchange filing today