Waaree Energies IPO expected in October: What investors need to know
The planned IPO targets a Rs 3,000 crore fundraising through a mix of new shares and an offer for sale. The OFS comprises up to 32 lakh equity shares, with major contributions from Waaree Sustainable Finance Private Limited, Chandurkar Investments Private Limited, and Samir Surendra Shah.
IEX shares fall by 17% in two days on news of market coupling implementation by FY25
IEX Share Price: Market coupling, expected to be implemented by the end of this fiscal year or the start of FY26, aims to establish a unified price for electricity across different trading platforms. IEX, which currently dominates the power trading market with an 84% share, may face new challenges due to this change.
KRN Heat Exchanger IPO fully subscribed within minutes of opening for share sale
KRN Heat Exchanger and Refrigeration Ltd’s IPO was fully subscribed within minutes of opening. The share sale received bids for over 3.40 crore shares against 1.09 crore on offer, translating to 3.10 times subscription. The IPO aims to raise Rs 342 crore, with funds allocated for a new manufacturing facility and general corporate purposes.
Dipan Mehta on why he is happy to sit on 10-15% cash in a booming market
Dipan Mehta, Director of Elixir Equities, discusses his strategy of maintaining 10-15% cash for strategic investments. He highlights the performance of his portfolio, mentioning key holdings like Bajaj Finance and IndiGo. Mehta also shares his positive outlook on the travel and tourism sector and cautious stance on the EMS space.
Govt sets up special team to address grievances related to MCA21 portal
The government has established a special team to address grievances related to the MCA21 portal, used for company and LLP filings. The corporate affairs ministry regularly reviews concerns through various channels and aims to resolve urgent issues efficiently. Companies and LLPs are required to submit their annual filings soon.
Hindalco, Tata Steel and other metal stocks rally up to 4%. Here’s why
Metal stocks like Vedanta, NALCO, and Tata Steel rose up to 4% as China’s central bank announced economic stimulus measures. The People’s Bank of China plans to lower borrowing costs and increase liquidity, leading analysts to be cautiously optimistic about a short-term rebound in metal prices.
Zee Media Corporation shares jump 19% on fundraise plans
Zee Media Corporation’s shares surged 19% to Rs 16.5 after announcing a board meeting on September 27, 2024, to explore fundraising options. The company plans to raise funds through various methods, pending necessary approvals. The stock has risen significantly over the past year, outperforming the Nifty index.
Reliance Power shares hit 5% upper circuit for 6th straight day, reach fresh 52-week high. Here’s why
Reliance Power Share Price: Reliance Power shares hit a new 52-week high, reaching Rs 42.06 on the BSE after the board approved issuing up to 46.2 crore equity shares and/or warrants worth Rs 1,525 crore through preferential allotment. The funds will be used for business expansion, debt reduction, and general corporate purposes.
Power Grid shares surge 4.5% on Goldman Sachs positive outlook
Power Grid Share Price: Power Grid shares rose 4.5% to an all-time high of Rs 366.20 after Goldman Sachs set a target price of Rs 370, citing strong growth prospects and recent project wins.
SpiceJet eyes fleet and market expansion amid low oil prices
Had we needed to we could have actually raised a significantly higher amount. But we think that this amount is sufficient to fund SpiceJet’s expansion plan, which is to go from the current level of 25, 27, 28 aircraft to in excess of 100 aircraft in two years.