Indian markets experienced a slight recovery in foreign fund inflows during the week ending December 6, following consistent outflows over the past two months. This marks a reversal after over five weeks of net redemptions, influenced by China's economic stimulus and anticipation of the US election. A report by Elara Capital reveals that India-dedicated funds recorded $156 million in inflows, driven...
December 2024
The subscription period for Emerald Tyre Manufacturers' IPO will close on December 9. The IPO includes a fresh issue of 49.86 lakh shares valued at ₹47.37 crore and an offer-for-sale (OFS) of 1.99 lakh shares worth ₹1.89 crore. The allotment of IPO shares is expected to be finalized on December 10. Shares will be credited to the demat accounts of successful applicants, and refunds for unsuccessful...
The IPO of Nisus Finance Services closes for subscription today, December 6, 2024, with its shares commanding a premium in the grey market. On Friday, the shares were trading at ₹245 each, reflecting a ₹65 or 36.11% premium over the IPO's upper price band of ₹180. The ₹114.24 crore IPO is priced between ₹170–₹180 per share with a lot size of 800 shares. The issue has seen strong demand,...
Rate-sensitive sectors like banking, auto, and real estate displayed mixed reactions on December 6 after the Reserve Bank of India (RBI) cut the cash reserve ratio (CRR) by 50 basis points to 4.5%, easing growth concerns. The RBI, however, kept the repo rate unchanged at 6.5%, in line with expectations, maintaining a "neutral" policy stance. The Nifty Bank and Auto indices gained 0.3% each following the...
Vishal Mega Mart’s ₹8,000-crore initial public offering (IPO) will open for public subscription on December 11 and close on December 13, with anchor bidding starting on December 10, according to the company’s Red Herring Prospectus (RHP). The entire IPO is an Offer for Sale (OFS) by promoter Samayat Services LLP, which holds a 96.55% stake. No fresh equity shares will be issued. The...
Abha Power and Steel, an iron and steel products manufacturer, had its shares listed on the NSE SME at ₹81.90, a 9.2% premium over the IPO price of ₹75. Despite the positive start, the stock quickly dropped 5% to ₹77.80, hitting the lower circuit within 20 minutes of trading. Around 0.20 million shares worth ₹16.09 crore were traded before trading was halted. The listing performance fell short...
Ganesh Infraworld Ltd is set to finalise its share allotment on Wednesday following the closure of its IPO on December 3. The ₹98.58 crore SME IPO received an overwhelming response, with a subscription of 369.56 times. Priced between ₹78 and ₹83 per share, the minimum application required 1,600 shares, amounting to ₹1,32,800 for retail investors. High-net-worth individuals (HNIs) had to apply...
Abha Power and Steel shares debuted on the NSE Emerge platform on December 4, listing at ₹81.90 per share—a 9.2% premium over the IPO price of ₹75. Before the listing, the company’s shares had a grey market premium (GMP) of ₹15, signaling a 20% premium in the unofficial market. The ₹38.54 crore IPO, which closed on November 29, ran from November 27-29 and included a fresh issue of 41.39...
Food delivery platform Swiggy Ltd. disclosed a net loss of ₹625.5 crore for the September quarter in its first earnings report since going public last month. Key highlights: Net Loss: Narrowed from ₹657 crore in the same quarter last year but slightly higher than the ₹611 crore loss in the June quarter. Revenue Growth: Increased to ₹3,601 crore, up from ₹2,763 crore last year and...
Health insurance stocks rallied on December 3 as the Group of Ministers (GoM) on GST rate rationalization, led by Bihar Deputy Chief Minister Samrat Chaudhary, recommended significant tax cuts for the sector: GST Reduction: Proposed to cut GST on health insurance premiums from 18% to 5%. Senior Citizens: Recommended GST exemption on premiums for senior citizens. Non-Senior Citizens: Suggested...