Kross IPO GMP declines by half ahead of Monday listing. Check details
Kross IPO GMP: Kross’ grey market premium has halved to Rs 24 ahead of its listing on Monday. The IPO was subscribed 16.81 times, with QIBs leading the subscription. Share allotment and refunds are expected to be complete.
Technology sector poised for recovery; Coforge, HCL Tech could give 17-20% return in 1 year
The technology sector is set for a strong recovery, driven by increased investments and new technologies like Generative AI. Key sectors such as BFSI, healthcare, and manufacturing are expected to lead this growth. Service vendors and Global Capability Centers will play crucial roles in this expansion, with companies like HCL Technologies and Coforge positioned for […]
Hospital stocks’ growth outlook positive: HSBC
HSBC has given a ‘buy’ rating to Krishna Institute of Medical Sciences and Apollo Hospitals, while assigning a ‘reduce’ rating to Global Health and Narayana Hrudayalaya. The brokerage sees a positive growth outlook for the hospital sector due to rising demand for quality healthcare, with several hospitals planning significant bed additions in the coming years.
ICICI Security shareholder moves NCLAT against order on delisting
A shareholder has approached the NCLAT challenging the NCLT’s approval of ICICI Securities’ delisting application. The appeal cites misapplication of regulations, fraudulent voting, and non-transparency concerns. Quantum Mutual Fund and minority shareholders argue that the share swap negatively impacts them. An investor has also moved the Bombay High Court against SEBI’s decision.
India’s forex kitty jumps $5.2 billion to a fresh high of $689 billion
India’s foreign exchange reserves reached a new high of $689.235 billion at the end of September 6, according to the Reserve Bank of India. This marks the fourth consecutive weekly increase, with reserves rising by $5.248 billion in the last week alone. The rise is attributed to healthy dollar inflows and appreciation in other global […]
Russian hackers hit Taiwan Stock Exchange and bank in a surprise attack
Russian hacker groups launched DDoS attacks on Taiwanese financial platforms, including the stock exchange and Mega Financial Holding Co.’s website. The attacks, while not causing significant damage, exposed the island’s vulnerability to foreign cyberattacks.
Biocon Biologics is planning to raise $950 million through overseas bonds
Biocon Biologics plans to raise $950 million through overseas bond sales to refinance a significant portion of its $1.2-billion debt from acquiring Viatris Inc.’s biosimilars business. The company has already prepaid $250 million and is exploring ways to reduce finance costs. The bond’s rating will determine its pricing.
Northern Arc Capital mobilises Rs 229 cr from anchor investors ahead of IPO
According to a circular uploaded on BSE’s website, the company has allotted 87.02 lakh equity shares to 15 funds at Rs 263 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 229 crore.
SpiceJet shareholders approve Rs 3,000 cr fund raising plan
In a regulatory filing on Friday, the airline said shareholders have given their nod for the special resolution for raising funds of up to Rs 3,000 crore.
Smallcap sell-off: 4 stocks mutual funds dumped in August
Mutual funds significantly reduced their holdings in Vaibhav Global during August, selling approximately 13.13 lakh shares. This resulted in their total ownership dropping from 14.76 lakh shares in July to 1.62 lakh shares by the end of August.