Meesho shares slide 21% in 3 days, after more than doubling in post-IPO surge. What’s behind the decline?
Meesho shares fell for a third session after a blistering 110% post-IPO rally, as a low free-float, short-covering pressures and profit-taking triggered a sharp reversal. Brokerages remain constructive on the long-term growth story, even as volatility rattles near-term sentiment.
SME IPO crisis: Phytochem Remedies withdraws Rs 38 crore issue due to undersubscription
Phytochem Remedies withdrew its Rs 38 crore SME IPO after the issue was undersubscribed at just 62% with only 797 applications. The grey market signalled a flat listing, reflecting weak sentiment toward SME offerings. The high retail investment threshold and volatile markets also weighed on subscription demand.
Swarup Mohanty on cycles, conviction and the rise of midcaps
Swarup Mohanty of Mirae Asset highlights a year of shifting market dynamics, where traditional assumptions are being challenged. The firm has evolved into a diversified asset manager, with a strong focus on mid and smallcap stocks, which are now seen as crucial protagonists in portfolio construction, not just supporting roles.
Gold, silver prices rise over 1% to scale another new peak. What’s driving the surge and will it sustain?
Gold and silver prices extended record-breaking gains on Tuesday, with MCX gold February futures hitting Rs 1,38,300/10 grams and silver March futures at Rs 2,16,596/kg. Safe-haven demand, global geopolitical tensions, and expectations of dovish US monetary policy continue to support the metals, pushing them toward new all-time highs.
GPT Infraprojects shares zoom 6% after being declared L1 bidder for Rs 670 crore NHAI project
GPT Infraprojects shares: The company emerged as the L1 bidder for a Rs 670 crore NHAI infrastructure project. The order was secured through a consortium with ISCPPL and disclosed in a regulatory filing.
Belrise Industries shares rise nearly 9% to new 52-week high after likely block deal
Belrise share block deal news: On Tuesday, Belrise Industries celebrated a milestone as its stock reached a new 52-week peak. Meanwhile, Sumedh Tools, part of the promoter group, is apparently divesting a large portion of its stake, with a transaction value estimated at Rs 897 crore.
Ambuja Cements, Orient Cement shares zoom up to 10% following board approval for merger with Orient Cement
Ambuja Cements is embarking on an exciting merger with ACC Ltd and Orient Cement Ltd, a move designed to create a robust and unified cement platform across the Indian landscape. By merging, the companies aim to boost efficiency and refine their corporate framework.
Sensex slips over 100 pts, Nifty below 26,200 as foreign outflows halt 2-day rally
Indian equities opened lower on Tuesday, breaking a two-day rally as foreign investors resumed selling. The Sensex and Nifty saw slight declines, with analysts anticipating thin trading volumes as the year concludes. The market awaits fresh catalysts ahead of the year-end.
ET 500 Wealth Creators: Who topped the charts and who suffered losses?
Gabriel India led wealth creators with over two-and-a-half times return. Force Motors followed with 148.4% return. Siemens saw the biggest loss, shedding 55% of its value. Tata Motors Passenger Vehicles lost 52% market capitalization. Jindal Saw reported a 45.4% erosion in market cap due to subdued demand.
Frail yen whipped around as intervention threat swirls
The yen saw a slight uptick as Japanese authorities issued their strongest warning yet regarding intervention, signaling readiness to act against the currency’s recent lows. Despite this, analysts anticipate continued near-term yen weakness due to the Bank of Japan’s cautious stance on future rate hikes. The U.S. dollar also remained under pressure, continuing its December […]