Ken Enterprises IPO listing today. What GMP signals ahead of debut?
Ken Enterprises is set to debut on the NSE SME platform, with its IPO seeing a 4-times subscription led by retail investors. Funds from the IPO will be used for acquisitions, new machinery, and facility renovations. The company, known for its diverse fabric offerings, achieved a revenue of Rs 409 crore in FY24.
ARCs free to tap markets for equity capital: RBI
The Reserve Bank of India has allowed asset reconstruction companies (ARCs) to raise equity capital by listing their shares in the market, providing an opportunity to enhance liquidity and investor base. This move comes as ARCs face challenges in raising capital amid competition from government-backed entities and stringent net worth requirements.
Asian equities mixed ahead of US inflation reading
Treasuries fell across the curve on Tuesday, with money markets still fully pricing in one rate cut by the Fed this year. Australia’s 10-year yield rose six basis points in early trading. Asian equities were mixed with Japanese stocks gaining while shares in Australia were steady ahead of Wednesday’s US inflation reading. Stock index futures […]
Cube Highways raises Rs 860 crore from IFC via long-term NCDs
Of this, ₹2,248 crore was drawn in June 2024 to acquire six hybrid annuity model projects, while the remaining funds will be used to fund the acquisition of NAM Expressway, expected to close this quarter, according to a recent ICRA report that rated the instrument at ‘AAA’.
TRUMP & DUMP: Fall season as T-War comes to D-Street
The NSE Nifty tumbled 1.3% or 309.80 points to finish at 23,071.80. The BSE Sensex slumped 1.3% or 1,018.20 points to close at 76,293.60. The slump in the broader market was deeper with the Nifty Midcap 150 index tumbling 2.9% and the Smallcap 250 index 3.4%.
We’re pretty much done with cost optimisation: Zee CEO
The Securities Appellate Tribunal (SAT) order was crystal clear on every allegation made. The Sebi, of course, has the right to investigate, and they should. I fully stand by the law of the land and will comply with whatever the regulator ultimately decides.
RBI props up rupee to its biggest gain since Nov ’22
The Indian rupee strengthened by 64 paisa to 83.83 against the US dollar, marking its largest single-day gain since November 2022 due to significant intervention by the Reserve Bank of India. This move caused speculative dollar selling and stop losses for those expecting further depreciation.
Biz ramp-up, tackling rivals to be key for Apollo Hospitals
While the performance was largely in line with analysts’ expectations, investors were not happy with the sequential moderation in the business, Apollo 24|7 business not breaking even and intensifying competition with Adani group’s foray in healthcare. The Apollo stock closed 6.7% lower on Tuesday, with investor sentiment worsened by the steep decline in the benchmark […]
Flexi funds with a lower SMID load lose less in selloff
Flexi-cap schemes, the second largest equity mutual fund category by assets, give fund managers the flexibility to invest in large-, mid- or small-cap stocks, depending on their outlook for the market.