HM Electro Mech IPO listing today. Here’s what GMP signals ahead of debut
HM Electro Mech shares are set to debut on BSE SME with an 8% premium. The IPO, priced at Rs 75, was oversubscribed 91 times. The company focuses on turnkey projects in pumping machinery and has diversified into electrification and EPC projects.
Asian equities fall as Samsung, SK Hynix weigh
A gauge of Asian shares fell after two daily advances, and despite gains for Australian equities. Markets in mainland China, Hong Kong and Taiwan remain closed for the Lunar New Year holiday. SK Hynix Inc. and Samsung Electronics Co. fell, weighing on Korea’s Kospi.
Most strong listings fail to sustain gains
Of the 21 IPOs since December 1, 19 shares returned between 9% and 160% on their debut. After the positive start, 17 are trading below their opening prices.
FAR G-Secs fare better in Jan, but yields in US, dollar cloud outlook
The inflows which had peaked at over ₹22,000 crore in August have tapered due to escalating US yields and a depreciating rupee making Indian government bonds less attractive to foreign portfolio investors, fixed income experts said.
CreditAccess may navigate the choppy MFI waters better
CreditAccess Grameen’s shares have surged by nearly 17% over four trading sessions despite a sequential decline in loan disbursements and a net loss due to increased provisioning. The company has forecasted recovery in operating parameters starting from the March quarter, with improved business momentum and risk management.
RBI sets in motion Aviom India insolvency
The Reserve Bank of India has initiated a corporate insolvency resolution process against Aviom India Housing Finance due to governance issues and payment defaults. A three-member advisory committee and an administrator have been appointed to manage the New Delhi-based firm during this process.
Equinox India entity raises Rs 950 crore via NCD issue
The 48-month NCDs, issued by Lucina Land Development (LLDL), offer an interest rate of 13.00% and are backed by corporate guarantees from Equinox India, Sion Developers, Citra Properties and RGE Constructions.
Irdai caps health insurance premium hikes for seniors
The Insurance Regulatory and Development Authority of India (Irdai) has mandated that insurers cannot increase health insurance premiums for senior citizens by more than 10% annually. This directive aims to address the steep premium hikes observed in certain health insurance products for those aged 60 and above.
Shares worth Rs 80,000 crore to exit IPO lock-in
Bankers and brokers said a chunk of these shares could flood the market as various investors would look to book profits with the stock market precariously perched.