IPO Calendar: 4 new issues, 9 listings to watch out for next week as 2024 draws to a close
Four IPOs, including Mamata Machinery and Transrail Lighting, are set to open next week, continuing the primary market’s strong momentum. Nine companies, including Mobikwik and Sai Life Sciences, are expected to list. Mamata Machinery’s IPO is entirely an offer for sale, while Transrail Lighting’s includes a fresh issue to fund expansion. Two additional IPOs will […]
US stocks close flat as Nasdaq extends weekly gains, S&P 500 and Dow dip
Broadcom forecast quarterly revenue surpassing Wall Street expectations and predicted robust growth in demand for its custom AI chips over the next few years. The optimistic outlook propelled the company’s shares 24% higher, pushing its market capitalization past $1 trillion for the first time.
3 IPOs close with bumper Rs 2.22 lakh crore demand
The Rs 572-crore IPO of One MobiKwik Systems, priced at Rs 265-279 per share, was entirely a fresh issue and was subscribed 119.4 times, generating bids worth Rs 39,542 crore. The issue received bids of 141.73 crore shares against the offered 1.19 crore equity shares. The retail portion was subscribed 134.7 times, while QIBs subscribed […]
Rising credit costs to hit bank profitability: CareEdge
Credit costs for non-bank lenders, particularly microfinance companies, are also expected to rise because of a significant deterioration in their asset quality. CareEdge expects credit costs for microfinance companies to rise to 6.5% of their loan book in the coming financial year, from 2.5% in the ongoing fiscal year ending March 2025.
Infra, mfg, commodity stocks may gain in 2025 on demand revival
There are signs of bottom formation and recovery in commodity prices such as cement, metals and oil, along with gross refining margins of oil companies, the brokerage said in a note to clients.
Sebi likely to facilitate retail participation in Algo Trading
In 2012, Sebi introduced algo trading through the direct market access facility, which provided advantages such as faster order execution, reduced transaction costs, greater transparency, better audit trails and improved liquidity. However, its access was limited to institutional investors.
Sensex, Nifty fall 1.5% before making a smart recovery to close up 1%
The Nifty rose 0.9%, or 219.60 points, to close at 24,768.30, while the Sensex gained 1%, or 843.16 points, to 82,133.12. Both ended the week around 0.5% higher. Analysts expect Nifty to move towards 25,000 levels by December end.
MFs raise red flag on buying International ETFs at a premium
Investors taking this route can find their returns erode, when the NAV and market price converge. Several ETFs, based on the US markets, are currently trading at a premium to their NAVs due to renewed interest among investors to diversify and take an exposure to the US markets after Donald Trump’s recent win in the […]