Metal stocks rally on China’s realty stimulus, LME gains
Hindustan Zinc surged 20%, followed by Vedanta which gained 7.04%. Jindal Steel and Power and Hindalco moved up over 4%, while Tata Steel, JSW Steel, and Hindustan Copper rose over 3% each.
BIS certification must for sale of used imported electronic products: DGFT
In the Directorate General of Foreign Trade (DGFT) notification on May 20, the Centre has specified that import of second-hand products, whether or not refurbished, repaired or reconditioned, notified under the Electronics and Information Technology Goods (Requirement of Compulsory Registration) Order, 2021, is prohibited unless they are registered with BIS and comply with the labelling […]
Sobha Ltd aims Rs 10,000 crore increase in equity capital over next 5 years
After the Rs 2,000 crore rights issue, the company’s equity base will increase to Rs 4,500 crore. Earlier this year, the board of Sobha Ltd approved raising Rs 2,000 crore through a rights issue to increase the equity of the company and fund the growth.
Nifty Midcap 150 hits another high; Vix hints at some fear
The index rose 0.3% to end at 19,413 – a record close, while the benchmark Nifty gained 0.1% to close at 22,529.05. The volatility index, or India VIX – market’s fear gauge, jumped 6.3% to 21.81, suggesting traders see risks in equities in the near term.
Warburg Pincus arm likely to sell 3.5% stake in Apollo Tyres
Warburg Pincus subsidiary White Iris Investment is likely to sell a 3.5% stake in Apollo Tyres on Wednesday. It aims to raise Rs 1,040 crore. The deal size is 2.24 crore shares.
Despite offer of new securities, govt bond buybacks yet to come to life
At the buyback auction on Tuesday, the RBI accepted bids worth Rs 5,266.04 crore as against the aggregate notified amount of Rs 60,000 crore worth of bonds that the government had offered to repurchase.
Promoters of Aptus Value sell shares worth Rs 1,028 crore
Shares of Aptus Value Housing Finance fell 5.56% to close at ₹298.6 on Tuesday. In the past one month the housing finance company’s shares have fallen 6.7%.