Investor eyes glued on IPOs with new issues for ₹6,000 cr to hit market soon
With valuations in the secondary market turning red hot, investors are flocking to the primary market wooed by right pricing of issues and hefty listing gains. In fact, the enthusiasm to invest in IPOs, which started with the recent SME issues, has now caught up with the main board IPOs in recent times particularly after […]
KFin Tech shares hit record high on Jefferies’ upgrade
Shares of KFin Technologies surged 14.4 per cent intraday on Friday to touch a record high of ₹439.70 after advisory firm Jefferies assigned a ‘buy’ rating on the stock pegging rise in the share price at 30 per cent. The stock later pared some gains to end 11.7 per cent higher at ₹429.25 on the […]
Rubber Board urges tyre makers to resume domestic purchase
The Rubber Board has urged tyre manufacturers to resume domestic purchases of natural rubber (NR) at the earliest and support growers and dealers from further losses and stabilising market prices. Expressing concern over the current market situation, M Vasanthagesan, Executive Director, said NR prices have been declining since May despite increase in production and consumption […]
Weak global cues set tone for Sensex, Nifty with expected gap-down opening
Domestic markets are likely to see a strong gap-down opening on Friday amid weak global cues. The US Stocks overnight slumped sharply on healthy job data. Major US indices crashed led by Nasdaq that slumped nearly 2 per cent. S&P 500 and the Dow Jones Industrial Average lost over one per cent. Gift Nifty at […]
Sensex, Nifty slip as Reliance slide overpowers IT gains
Indian shares reversed intraday gains on Thursday, as a slide in Reliance Industries overpowered the rise in IT stocks, while investors turned their focus to the release of Reserve Bank of India’s (RBI) policy meeting minutes, after market hours. The Nifty 50 settled 0.29 per cent lower at 19,386.70, while the S&P BSE Sensex fell […]
Vishnu Prakash R Punglia garners ₹92 cr from anchor investors
Vishnu Prakash R Punglia Ltd on Wednesday raised ₹92 crore from anchor investors ahead of its initial public offering (IPO), which opens on Thursday. The company plans to raise about ₹309 crore from the IPO and fixed the price band at ₹94-99. The issue will be open till August 28 for public subscription. The Engineering, […]
Rupee edges up 7 paise versus dollar in cautious trade
The rupee was trading in a narrow range and appreciated by seven paise against the US dollar in early trade on Wednesday, amid a muted trend in domestic equities. Forex traders said the rupee is trading in a narrow range as investors remain cautious ahead of the BRICS summit and US Federal Reserve Chair Jerome […]
Weekly rupee view: Rupee stays in the bear zone despite a rally
The rupee inched up over the past week against the dollar. On Tuesday, the rupee appreciated by 0.2 per cent to close the session at 82.94. Supporting the upside, the net FPI (Foreign Portfolio Investors) flows have been positive over the past week. According to the NSDL (National Securities and Depository Limited) data, the net […]
Broker’s call: JK Cement (Reduce)
Target: ₹3,164 CMP: ₹3,096.05 JK Cements reported results largely in line with our estimate at EBITDA level. The company has restated its financials to factor in the effect of amalgamation of its subsidiary Jay kay cem central ltd (recently commissioned Panna and Hamirpur plants) with the parent and as a result, Q1-FY24 and Q4-FY23 numbers […]
Mentha oil prices surge 18% on output decline, promising market outlook ahead
Mentha oil prices have surged 18 per cent in just 18 days, hitting a 4-month high on the back of an expected fall in output. Anticipated robust winter demand from FMCG industries and consistent export inquiries will further bolster its prices. Moreover, the export market could benefit from rupee depreciation. These factors collectively shape a […]