PhysicsWallah files draft papers for Rs 4,600 crore IPO
Startups, which are eyeing public listing, are increasingly opting for confidential filing route amid choppy and unpredictable markets that have nudged several new age companies to reassess and go slow on their IPO plans.
Steel stocks zoom up to 7% after DGTR recommends 12% safeguard duty on some products
Shares of steel companies like NMDC Steel and SAIL surged up to 7% after the Directorate General of Trade Remedies recommended a 12% safeguard duty on certain steel imports to curb the influx. The DGTR suggests this temporary duty for 200 days to protect the domestic industry from serious injury.
ETMarkets Smart Talk | Indian markets offer attractive risk-reward for 9-12% returns: Amit Ganatra of Invesco Mutual Fund
Assuming that market returns in the long run track earnings growth, Indian markets offer an attractive risk-reward if return expectations are 9-12%.
Stocks to buy: Swiggy, RVNL and TVS Motor on investors’ radar
Sensex surged 1,131 points, revisiting the 75,000 level, and Nifty rose 1.45% on global bullish trends. Paytm gained 8%, with resistance at 770 and support at 710. Cipla is breaking out above 1500, support at 1450. Bajaj Finserv is weak, with downside levels at 1820-1800. Analyst suggestions include cautious trading and adhering to stop losses.
Zydus Lifesciences shares in focus after FDA approval for prostate cancer drug
Zydus Lifesciences received final USFDA approval to manufacture Apalutamide tablets for prostate cancer, following last week’s approval for Eluxadoline tablets for IBS treatment. The stock shows a hold rating with an 18% target price upside. Despite recent approvals, the shares have declined 7% year-to-date.
Sebi yet to clear HDB, Hero FinCorp IPOs; talk of breach of some rules
According to sources familiar with the matter, the Securities and Exchange Board of India has held back its green light for the much-awaited public issues so far, as share sales by these companies could have inadvertently ended up violating rules that govern unlisted companies.
Yen weakens, Asian stocks advance ahead of BOJ
Shares in Japan and South Korea rose, while Australian equities slipped. Contracts for US stocks inched higher after benchmarks slid on Tuesday. Investors have slashed holdings of US equities by the most on record while cash levels jumped, according to Bank of America Corp.’s latest survey.
Barclays infuses Rs 2,300 crore into Indian operations
Barclays Bank has infused Rs 2,300 crore into its Indian operations, raising its total investments in the country to over Rs 12,400 crore. This capital will bolster the bank’s balance sheet and support business growth in investment and private banking sectors, emphasizing their commitment to India’s economic potential.
Axis in talks to change ATM vendor amid service issues
Axis Bank is negotiating to acquire between 3,500 and 4,000 ATMs from AGS Transact Technologies due to deteriorating service quality. The bank plans to audit the ATMs before finalizing the deal and transfer the machines to another service provider amidst AGS Transact’s financial troubles.
Dalal Street’s Treat: Indices back to winning ways
The NSE Nifty surged 325.55 points, or 1.45%, to close at 22,834.30. The BSE Sensex rose 1131.31 points, or 1.53%, to end at 75,301.26. Both indices have risen about 2% in the last two days.