State Bank of India (SBI) successfully raised ₹25,000 crore through a qualified institutional placement (QIP), issuing 305.9 million shares at ₹817 apiece. The QIP, India’s largest to date, witnessed strong demand, being oversubscribed 4.5 times, with foreign investors accounting for a significant portion. LIC increased its stake in SBI, investing ₹5,000 crore in the QIP.
Nifty’s 5-day fall may be nearing a reversal; Anand James maps key levels for this week
The consecutive falls that resigned Nifty to a close below lower bollinger band on Friday raises the prospects of a mean reversion move. Further, 20-week