Hindustan Aeronautics offer-for-sale opens on Thursday
The government will sell 1.75 per cent of its stake in Hindustan Aeronautics Ltd (HAL) through offer for sale, better known as auction method, on Thursday and Friday. At the floor price, the government expects to get over ₹1,400 crore, which would be ₹2,800 crore in case green-shoe option is exercised. While 10 per cent […]
Gold may top record $2,075/oz in a few weeks on banking turmoil
Gold will likely soar to its record high of $2,075 per ounce as the banking turmoil has resulted in instability in the global financial market, analysts have said. The yellow metal has gained on haven demand and it has resulted in analysts raising its price outlook by $100 following the current bull run. 7.75% monthly […]
IndiaFirst Life Insurance gets SEBI approval to float IPO
IndiaFirst Life Insurance, promoted by Bank of Baroda, has received the Securities and Exchange Board of India’s (SEBI) approval to raise funds through an initial public offering (IPO). The life insurer had in October 2022 sought approval for the public issue, which consists of a fresh issue of equity shares worth up to Rs 500 crore and an offer-for-sale […]
After manic Monday, markets eye Fed meet, Russia’s move
Monday turned out to be a roller coaster ride for the global stock markets. The scare over the default risk of one of Switzerland’s largest banks UBS AG reaching a 11-year high led to a fall in the global markets. But the news later during the day that the probability of Russia halting its war with […]
World markets set for relief after UBS rescues Credit Suisse
Financial markets are poised for relief on Monday after UBS Group AG agreed to buy Credit Suisse Group AG in a rescue orchestrated by the state and major central banks announced a co-ordinated move to shore up liquidity in the financial system. In an early sign that risk appetite was set for a bounce, the […]
Number of discontinued SIPs jump on flattish returns
The number of discontinued systematic investment plans (SIPs) has been growing at a faster pace even as new SIPs opened in the first 11 months of this fiscal dipped compared with the whole of last fiscal. Despite the sharp increase in inflows, the number of SIP accounts discontinued or matured increased 16 per cent to […]
Ahan-I offloads 1.5% stake in Biocon for ₹380 cr
Hedge fund Ahan-I Ltd on Friday divested a 1.5 per cent stake in pharmaceutical company Biocon for ₹380 crore through an open market transaction. According to the bulk deal data available with NSE, Ahan-I Ltd offloaded 1,89,28,363 equity shares, amounting to a 1.57 per cent stake in the company. The shares were disposed of at […]
Govt clears stock market listing for IREDA
The Cabinet Committee on Economic Affairs (CCEA) on Friday approved the proposal for listing its renewable energy (RE) funding arm, IREDA, on stock exchanges through an initial public offer (IPO). Incorporated in 1987, the Indian Renewable Energy Development Agency (IREDA) is an NBFC engaged in financing RE and energy efficiency (EE) projects in India. There […]
Can AMFI win the perception battle?
NS Venkatesh, Chief Executive of the Association of Mutual Funds in India (AMFI), recently lamented that the mutual fund industry is being vilified baselessly. In an interview to Press Trust of India, he said despite customer complaints being the lowest against mutual funds in the entire financial market space, the industry is being targeted. His utterances […]
Ixigo puts IPO plans on the backburner
Amid market pressures, Ixigo has put its IPO plans on the backburner in the near future. However, it is confident that it will sustain its growth for the upcoming fiscal with free cash flow. The online travel agency (OTA) has seen a 5x growth in three years which is higher than its pre-Covid levels. It […]