Ather Energy’s Rs 1,300-crore QIP subscribed over eight times: sources
The QIP, which opened on Wednesday, drew interest from several marquee domestic mutual funds and foreign institutional investors, the people cited above said. The company launched the issue at a floor price of Rs 1,169.70 per share, 10% lower than its share price of Rs 1,298 on Wednesday.
Funds go on buying spree as cash holdings drop to five-year low
Mutual fund managers reduced cash in equity portfolios to a five-year low. This move utilized recent stock declines in banking and IT sectors. Funds like Parag Parikh Flexicap significantly cut their cash positions. They invested in companies with attractive valuations and resilient earnings. This strategy reflects a shift towards deploying capital in beaten-down stocks.
RBI bars banks, NBFCs from selling acquired stressed assets back to defaulting borrowers, related parties
New Reserve Bank of India norms will prevent lenders from reselling acquired assets to defaulting borrowers. These prudential rules apply to banks, small finance banks, and NBFCs starting October 2026. Specified non-financial assets are those obtained when resolving stressed loans from borrowers. Lenders must establish board-approved policies for acquiring and disposing of these assets. These […]
US stocks today: Nasdaq ends lower as chip weakness offsets solid earnings, economic data
U.S. stocks slipped as chipmakers dragged the Nasdaq and S&P 500 lower despite solid economic data and strong earnings expectations. Semiconductor weakness offset gains in healthcare, while rising oil prices and escalating U.S.-Iran tensions added pressure. Investors remain cautious amid volatility, even as retail sales and labor data signal underlying economic resilience.
SpaceX short sellers earn $8.7 billion gains as shares dip below IPO price
Short sellers have capitalized on the decline of SpaceX shares, which fell below their initial offering price. Investors who anticipated this downturn borrowed and sold shares for a lucrative gain. Following its IPO peak, SpaceX stock has faced volatility, recently dipping towards the $135 mark. The company’s substantial debt for AI investments has raised concerns, […]
India-UK CETA takes effect: First zero-duty Indian coffee, jewellery consignments reach UK shores
The India-UK Comprehensive Economic and Trade Agreement has officially come into force. Zero-duty consignments of Indian jewellery and coffee have now landed in the United Kingdom. This landmark pact is expected to significantly boost bilateral trade between the two nations. Businesses anticipate substantial growth and increased market competitiveness following the agreement. The pact aims to […]
Abbott Labs shares jump 12% as Q2 sales rise, profit outlook raised
Abbott Laboratories shares surged 12% after the healthcare company reported strong second-quarter sales, raised its full-year earnings outlook and reaffirmed revenue growth guidance. Progress across its medical devices and diagnostics pipeline further boosted investor confidence in future growth.
Market Wrap: Sensex ends flat, Nifty holds 24,050 as Iran-US conflict keeps optimism in check
Sensex gained a mere 1 point to end at around 77,187, and Nifty 50 dropped around 6 points to close at nearly 24,073 on Thursday. Broader markets slipped into the red, with Nifty Midcap 100 and Nifty Smallcap 100 indices closing up to 0.4% lower.
Dixon Tech shares surge 7% on Rs 1.9 lakh crore phone manufacturing push. Buy, sell or hold the stock?
Dixon Technologies shares surged after the Union Cabinet approved the Rs 1.27 lakh crore second phase of the India Semiconductor Mission and a Rs 62,500 crore Mobile Phone Manufacturing Scheme. The government is expected to issue administrative notifications for both schemes within the next two weeks.
Mrs Bectors Food soars 11% after Sunil Singhania’s Abakkus acquires 29.4 lakh shares via block deal
Mrs Bectors Food shares surged sharply on Thursday after Sunil Singhania-led Abakkus Investment Managers acquired 29.4 lakh shares through a block deal. The purchase boosted investor sentiment despite the stock’s recent underperformance, while analysts continue to maintain a ‘Strong Buy’ rating, expecting around 35% upside from current levels.