Prasol Chemicals IPO opens for bidding. Check GMP and other key details
The Prasol Chemicals IPO opened for subscription on September 8 and will remain open until September 10. The Rs 500 crore issue comprises a fresh issue of Rs 80 crore and an OFS of Rs 420 crore. Priced at Rs 643-Rs 676 per share, the IPO has a lot size of 22 shares, requiring a […]
LIC, HDFC Life, other stocks rise up to 3% as Aug new business premium jumps 33% YoY. What Nuvama, others are saying
Life insurers reported a 33% YoY increase in total new business premium to Rs 41,198 crore in August, led by a sharp rise in group single-premium business. LIC posted more than 45% growth, while SBI Life and HDFC Life saw stronger retail-weighted premium growth.
GE Vernova shares surge 8% as firm declared lowest bidder for Power Grid project; Nomura raises target price
GE Vernova T&D India shares rose after the company emerged as the lowest bidder for a 6,000 MW HVDC project from Power Grid. Nomura raised its target price to Rs 6,000, while Emkay retained its Buy rating with a Rs 5,300 target price. Both brokerages highlighted strong prospects in the transmission sector, capacity expansion, robust […]
Rays of Belief shares make flat market debut, list at IPO price of Rs 239
Rays of Belief Ltd shares debuted flat at Rs 239 on September 8, matching the IPO price. The Rs 125 crore IPO saw overwhelming subscription across all investor categories. The company plans to use IPO proceeds for expanding learning infrastructure and technology upgrades. Financials show strong revenue growth but a decline in profit after tax. […]
Shiprocket shares gain 3% as Q1 net loss narrows to Rs 14 crore in first earnings post IPO; revenue up 34% YoY
Shiprocket reported a narrower consolidated net loss of Rs 13.7 crore in Q1FY27, compared with Rs 18 crore a year earlier, while revenue from operations rose 33.8% year-on-year to Rs 592.1 crore. Adjusted EBITDA turned positive at Rs 8.9 crore, supported by strong growth in the emerging business, while core business revenue grew 22%.
Sensex falls 300 points, Nifty below 23,700 as market extends losses. How long will the downtrend continue?
Indian stock markets opened lower on Tuesday, continuing their downward trajectory. The surge in crude oil prices coupled with anxieties over Federal Reserve rate hikes are major contributors to this decline. Moreover, the active IPO market is siphoning off significant capital from traditional stocks. Analysts expect this trend to extend in the near future and […]
Global Market Today: Asia stocks waver as yen surges, Iran warns of retaliation
On Tuesday, Asian markets exhibited a mixed bag of outcomes, with the yen gaining strength significantly. Oil prices surged for the third consecutive day, driven by escalating threats from Iran in the Persian Gulf. Japan’s economy displayed a faster growth rate than previously forecasted, alongside a notable rise in real wages. Meanwhile, Australian shares faced […]
Explainer-Why isn’t oil above $100 despite supply disruptions?
Global oil prices remain under the $100 per barrel mark, despite substantial volumes continuing to move through the Strait of Hormuz. Gulf producers are adapting by employing alternative shipping routes to counter any export deficiencies. Additionally, other oil-producing nations are boosting their output to compensate for supply shortages. The drop in demand from major markets […]
Ultravolt launch sparks sell-off in wire stocks; high-voltage players insulated
The wire and cable industry faced stock declines amidst rumors of Ultravolt’s impending market entry. The Aditya Birla Group’s initiative aims for a robust nationwide distribution and retail network, stirring competition among established players. Leaders like Polycab and Havells have felt the pinch with falling stock prices, though those in the mid-to-extra high voltage sector […]
Sebi eases FPI compliance rules for G-Sec bets
The Securities and Exchange Board of India has taken a significant step by relaxing compliance regulations for foreign investors. Foreign Portfolio Investors (FPIs) who are exclusively investing in government securities will no longer be required to disclose their investor group details. This amendment follows a recent circular from the Reserve Bank of India, which abolished […]