DAM Capital Advisors IPO opens today. Check key dates, price band, GMP and review
DAM Capital Advisors’ Rs 840 crore IPO opens today. The offer closes December 23. The price band is Rs 269-283 per share. Analysts recommend subscribing for the long term. The company plans to expand its fee-based businesses and global presence. Listing is expected on December 27.
Sanathan Textiles IPO opens today. Check key dates, price band, GMP and review
Sanathan Textiles’ Rs 550 crore IPO opens today. The offer includes fresh equity and an OFS. Bidding closes December 23. Proceeds will repay debt and fund subsidiary Sanathan Polycot. The price band is Rs 305-321 per share. Analysts recommend subscribing for the long term. Listing is expected on December 27.
Stocks to buy today: Restaurant Brands, Ambuja Cement and Exide Industries on investors’ radar
Indian equity indices declined for a third consecutive session due to selling pressure in utility, capital goods, and metal stocks, coupled with foreign fund outflows. Technical analysts suggest Restaurant Brands Asia, Ambuja Cements, and Exide Industries are expected to decline further, with specific support and resistance levels identified for each stock.
QR Code scams double in 2 years, fraud losses triple
QR code frauds in India doubled to nearly 40,000 in 2023-24, with losses tripling to Rs 56.34 crore. As of September 2024, over 18,000 cases involving Rs 22.22 crore have already been reported. The government, RBI, and NPCI are implementing preventative measures like device binding and awareness campaigns to combat these rising frauds.
US stocks dive after Fed cuts rates, signals slower easing pace in 2025
The Fed cut rates by 25 basis points to the 4.25%-4.50% range and its summary of economic projections (SEP) indicated it will make rate cuts totaling a half percentage point by the end of 2025 given the solid labor market and the recent stall in lowering inflation.
Sanathan Textiles may be suitable for the long term
Sanathan Textiles generates 77% of its revenue from polyester yarn, 18% from cotton yarn, and 5% from technical textiles. With a 5% market share in India’s polyester yarn industry, the company operates a manufacturing facility in Silvassa with an annual installed capacity of 2.23 lakh tonnes.
MobiKwik, Vishal Mega and Sai Life make strong D-Street debuts
Digital banking platform One MobiKwik Systems listed at Rs 440, about a 57.7% premium to its IPO (initial public offering) price of Rs 279 per share. The stock advanced 20% further to close at the day’s highest tradable limit of Rs 528.
Fintechs seek RBI nod for credit line on UPI platform
Digital lending NBFCs have requested the Reserve Bank of India to allow them to offer pre-approved credit lines on the UPI platform. They argue this will broaden access to low-cost, short-term credit, particularly for those new to credit, aligning with the RBI’s objectives. The RBI recently granted this permission to small finance banks.
Grey market buzzing with flurry of public issues, improved sentiment
Grey market premiums (GMPs) – the additional price investors are willing to pay over the IPO price in the grey market before the stock lists on the exchanges – of five IPOs are trading at 8-44% above the issue prices, according to sources. A higher premium indicates the market sentiment for the IPO in question. […]
Sebi tightens SME IPO rules, limits promoter OFS to 20%
The board of the capital-markets regulator approved a proposal to limit the offer for sale (OFS) by promoters in small and medium enterprises (SME) IPOs to 20% of an issue size. It also said they cannot sell more than 50% of their holding in an IPO.