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The IPO comprises a fresh issue of 60 lakh shares worth Rs 25.20 crore and an offer for sale (OFS) of 14.95 lakh shares aggregating to Rs 6.28 crore. The issue is priced in the Rs 39-42 per share band and will close on June 30. The shares are proposed to be listed on the...Read More

The Rs 30.24 crore IPO, which comprised entirely a fresh issue of 14.54 lakh shares, witnessed overwhelming investor interest during the three-day bidding period. The issue was subscribed 385.32 times, driven by robust participation across all investor categories.Read More

The Reserve Bank of India has firmly rejected requests for special exemptions from concentration norms for government-owned NBFCs, emphasizing a principles-based regulatory approach. The central bank also denied calls to raise single counterparty limits for public sector enterprises. While allowing grandfathering of residual breaches and specific conditions for temporary limit breaches, the RBI has tightened...Read More

Indian markets surged on Wednesday, reversing Tuesday’s losses, buoyed by falling crude oil prices and a positive sentiment from the monsoon’s arrival. Key sectors like banking and IT led the gains, with analysts pointing to expectations of discounted Iranian crude benefiting the economy. Despite mixed Asian markets, domestic investors showed strong buying, offsetting foreign outflows,...Read More

Foreign investors offloaded shares worth a staggering ₹64,761 crore in the first half of June, the highest since March, driven by elevated oil prices. Financial services saw the largest outflows, followed by oil, gas, and consumable fuels. Automobile and IT sectors also experienced significant selling pressure, with concerns over oil prices and AI’s impact on...Read More

Textile exporter stocks witnessed a significant rally on Wednesday, boosted by positive initiation of coverage from Motilal Oswal Financial Services. The brokerage highlighted capacity expansion and supportive policies as key growth catalysts, projecting substantial gains for leading companies. This surge reflects a new investment cycle in the Indian textile sector, with companies focusing on higher-margin...Read More

JPMorgan anticipates challenges for Indian IT firms over the next two years, citing uncertain demand and a mix of technology and economic headwinds. The brokerage has downgraded several stocks, including HCL Technologies and Wipro, due to current valuations not reflecting these concerns. Analysts foresee reduced revenue growth forecasts for FY27, with a softer start to...Read More

The Indian rupee saw a slight recovery on Wednesday, closing at 94.66 against the dollar after touching an intraday low. State-run banks intervened, likely for the RBI, to curb further depreciation. This weakness stemmed from a strengthening dollar index, fueled by expectations of a US Federal Reserve interest rate hike later this year, pushing the...Read More