Newmalayalam Steel IPO listing today. Check GMP ahead of debut
Newmalayalam Steel will debut on the NSE SME platform on Friday, with shares expected to list at a 33% premium over the issue price. The public offer proceeds will be used for technological upgrades, solar facility expansion, and brand building. The company manufactures galvanised pipes and tubes for households in Kerala.
Year in Review: There’s an Esop fable in startup Inc’s IPO run
Initial public offerings of eight new-age internet companies in 2024 revealed a significant disparity in wealth creation between startup founders and employees. Founders amassed nearly Rs 34,000 crore, compared to Rs 8,500 crore unlocked for staff through Esops. Concerns arise over disproportionate Esop distribution and the fairness of typical four-year vesting periods.
BSE 500 cos hold Rs 99,000 cr in cash & cash equivalents. Time for bumper dividends?
HCL Technologies, Bharat Electronics, LTI Mindtree, Siemens, and Sun TV Network are the top five companies with the largest estimated excess cash reserves, said the report. The IiAS assessment, drawn from FY24 financial statements, also accounts for acquisitions and announced capital expenditures after the balance sheet date.
F&O rollovers hint at a bearish January
The Nifty futures rollover remained bearish at 69% for January, which is lower than the three-month average of 73.74%, said Chandan Taparia, head of technical and derivatives research at Motilal Oswal Financial Services. These numbers are provisional as the final figures were not released till late Thursday.
Bright growth outlook for H2, but new risks seen in FY26: Finance Ministry
In its economic review for November, the ministry also said the “combination of monetary policy stance and macro-prudential measures by the central bank may have contributed to the demand slowdown” in the first half of FY25. It termed the RBI’s move to lower the cash reserve ratio to 4% from 4.5% as “good news”. This […]
Bank profits rose for 6th year in a row in FY24, asset quality up
RBI reported that Indian banks’ profitability improved for the sixth consecutive year as of March 2024, with asset quality reaching a 13-year low in non-performing assets. Banks’ net profit rose by nearly 33% and GNPA ratio fell to 2.7%, driven by better recoveries and upgrades.
Trump’s ‘Made in USA’ Bitcoin is a promise impossible to keep
While seen widely as a symbolic pledge of support, it’s near impossible in practice since blockchains are decentralised networks in which no one controls or can be banned from participating in the process
Mend ways or face more curbs: RBI to banks, NBFCs
The RBI warned banks and finance companies to prudently manage unsecured exposure levels to avoid systemic risks. Despite rising bank profitability and low bad loans, concerns remain over top-up loans, cyber frauds, KYC process inefficiencies, and the interconnectedness between lenders and private credit firms.