Govt to sell up to 6% stake in Hindustan Copper via OFS; floor price at 10% discount
The government will sell a 3% stake in Hindustan Copper through an OFS at Rs 514 per share, with an option to divest another 3%. The sale offers a discount to market price amid strong quarterly earnings and expansion plans.
Iran’s currency rial hits record low as US plans more sanctions
Iran’s currency has plummeted to a staggering 2.02 million rials against the US dollar, reflecting deepening economic strain as Washington gears up for more sanctions. The rial’s decline is fueled by persistent sanctions and a naval blockade, exacerbated by double-digit inflation and negative growth. The ongoing conflict, now nearing six months, has further devastated an […]
Sebi drops proceedings against Max Financial, Axis Bank in Max Life deal case
Sebi dropped proceedings against Max Financial and Axis entities. Allegations of disclosure lapses and fraud were not established by the regulator. The case involved transactions between Max Financial, Max Life, and Axis Bank. Sebi found no evidence of a fraudulent scheme to defraud shareholders. Proceedings were based on investigations from FY10 to FY22.
SoftBank pares 2.6% Lenskart stake for Rs 2,800 crore
SoftBank Group has sold a 2.6% stake in Lenskart for Rs 2,888 crore. This transaction reduced SoftBank’s holding to 7.28% from 9.86%. Abu Dhabi Investment Authority’s Platinum Jasmine Trust remains Lenskart’s largest public shareholder. Many institutional investors, both domestic and foreign, participated in the block deal. Lenskart Solutions shares closed slightly lower on the BSE […]
Y Combinator sells Meesho shares worth Rs 970 crore in block deals; Morgan Stanley, Goldman Sachs, Citigroup among buyers
Y Combinator-linked entities sold 4.85 crore Meesho shares worth Rs 970 crore through block deals at Rs 200.01 apiece. Institutional buyers including Nippon India Mutual Fund, HDFC Life, Morgan Stanley, Goldman Sachs and Citigroup acquired significant stakes.
Stocks to buy: DLF among 5 real estate firms on which Nomura remains bullish
Nomura expresses strong optimism for five key Indian real estate stocks, identifying Prestige Estates as their top choice within the sector. The brokerage also endorses DLF and Oberoi Realty, highlighting their solid investment potential. Additionally, Lodha Developers and Aditya Birla Real Estate gain favorable attention. In contrast, Godrej Properties receives a cautious ‘Hold’ rating from […]
In favour! FIIs buy 7 multibaggers that soared up to 730% after 2 quarters of selling
After a period of significant sell-offs, foreign investors are making a strategic move by purchasing select Indian stocks demonstrating remarkable performance over the past year. In July alone, FIIs acquired shares worth Rs 11,045 crore, followed by Rs 13,123 crore in August. The notable 730% rise in Cupid’s stock highlights this renewed investor confidence, emphasizing […]
PLI 2.0 for mobiles set to reward scale, exports; Dixon a key beneficiary: Motilal Oswal
The government’s new mobile phone manufacturing incentive scheme is set to favour companies with scale, export capabilities and strong domestic supply chains. Motilal Oswal said Dixon Technologies is well positioned to benefit, while higher incentives for incremental sales and domestic sourcing could boost volumes and support greater backward integration across the sector.
Rs 21,000 crore IPO rush in August highest in one year. Will September break all records?
In August, India’s IPO market witnessed a remarkable recovery, becoming the most active month in nearly a year. Over twenty companies successfully raised more than twenty-one thousand crore rupees through public offerings. This revitalization comes after a quieter first half characterized by market instability and concerns over valuations. Positive market sentiment, coupled with strong performances […]
Will MTAR Tech, HAL, other defence stks deliver solid returns? Analysts weigh in
Defence stocks are currently soaring, largely fueled by progressive government reforms aimed at strengthening the sector. Analysts maintain a positive outlook on future growth, bolstered by the Defence Ministry’s list that encourages domestic procurement. Although valuations may seem elevated, market corrections present prime opportunities for investors. As India aspires to lead in global defence technology, […]