Blackstone-owned International Gemological Institute files papers for Rs 4,000 crore IPO
US fund Blackstone backed diamond certification company International Gemological Institute (IGI) has filed draft papers with the capital markets regulator SEBI to raise Rs 4,000 crore ($480 mn) through an initial public offering (IPO).
Warburg Pincus exits Kalyan Jewellers, sells 2.36% stake to promoter TS Kalyanaraman
Warburg Pincus exited Kalyan Jewellers on Thursday, selling a 2.36% stake to promoter T S Kalyanaraman and 6.81% via a block deal. Warburg Pincus had reduced its holding from 30% since 2014 as part of a strategic divestment.
Rupee’s record lows mask currency’s trade-weighted overvaluation
The index tracking the rupee’s value against a weighted basket of 40 trading partners, adjusted for inflation, climbed to 107.33, its highest level since December 2017, according to Reserve Bank of India data.
Harindarpal Singh Banga to sell 1.4% stake in Nykaa for Rs 809 crore
As outlined in the bankers’ term sheet, the Bangas intend to sell 4.09 crore shares at a floor price of Rs 198 per share, representing a 5.9% discount to Thursday’s closing price of Rs 210.
RIL, Infosys among top 10 stock holdings of Kotak Mutual Fund in July
Kotak Mutual Fund had an AUM of Rs 4.68 lakh crore in July, up from Rs 4.44 lakh crore in June.
Tech View: Nifty charts in favour of bulls, support at 24,700-24,550. Here’s how to trade on Friday
According to Chandan Taparia of Motilal Oswal, the Nifty needs to stay above 24,700 to keep pushing towards the 25,000 and 25,100 levels. If it drops, there’s support at 24,700 and then again at 24,550.
Zomato among 7 stock ideas from StoxBox with upside potential of up to 10%
Here’s a selection of stock ideas from StoxBox, meticulously crafted using both technical and fundamental analysis to highlight stocks with significant growth potential.
Waiting for a technical correction with a stock list and cash in hand, not chasing value: Dipan Mehta
Dipan Mehta, Director at Elixir Equities, discussed market valuations and the lack of corrections since COVID. He advised caution in banking and auto sectors due to stagnation and potential cyclical downturns. Mehta is optimistic about long-term prospects, particularly in industries like smart meters, but is currently holding cash for strategic investments during corrections.
2 top stock recommendations from Dharmesh Shah
So, it looks like there is a long way to go for the market. Yes, in the near term, 25,000 being a psychological level, we may see some profit booking. But eventually, we should be heading towards a target of 25,200 for Nifty, with strong support at 24,400.
Amit Khurana on why Dolat Capital upgraded chemicals sector, how to play housing theme
Amit Khurana from Dolat Capital explains that although India’s market needs some normalization in the short term, it remains a top emerging market for the long-term. He discusses promising sectors like chemicals and affordable housing finance, assesses Aditya Birla Group’s capital practices, and highlights growth potential in banks and consumption sectors over different time horizons.