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Welcome to BK Shri Finsol

BK Shri Finsol is an Investment Consultant based at Lucknow with the objective of providing investors the best investment option that suits them and helps them to achieve their financial goals.

At BK Shri Finsol we believe that high-quality, professional investment planning can only be achieved through expert, transparent and unbiased services. In our endeavor to provide 'best in class' Investment, Insurance, Estate PlanningSolutions, we listen to our clients carefully, aiming to understand their immediate and long-term financial goals. We then use our extensive market knowledge and expertise to provide a financial advice, that our clients can trust.

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SME IPO tracker: Infollion Research offer subscribed 5.68 times; CFF Fluid Control issue subscribed 54% so far

Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.
2023-05-30T17:30:14+05:30

SME IPO: CFF Fluid Control issue to open for subscription on Tuesday. 10 things to know about the issue

CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.
2023-05-29T16:41:49+05:30

Krishca Strapping Solutions lists at 120% premium

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.
2023-05-27T07:54:08+05:30

SME IPO: Crayons Advertising subscribed 147 times, listing on June 2

Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.
2023-05-26T17:01:06+05:30

Happy Forgings plans up to Rs 1,200 crore IPO

Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.
2023-05-26T06:11:11+05:30

Ola Electric plans up to $1b IPO at $10b valuation

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment
2023-05-25T17:47:29+05:30

SME IPO: Infollion Research Services' public issue opens on May 29. Top 10 things to know

Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.
2023-05-25T16:13:04+05:30

Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak: Report

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.
2023-05-25T14:18:04+05:30

SME IPO tracker: Hemant Surgical Industries issue subscribed 2.45 times; Proventus Agrocom's offer subscribed 4% so far on Day 1

The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.
2023-05-24T17:52:22+05:30

SME IPO Tracker: Vasa Denticity gets muted response on Day 1; Auro Impex and Chemicals sees flat listing

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.
2023-05-23T19:02:27+05:30

Pune-based IT firm Vinsys completes pre-IPO round at Rs 200 cr valuation

Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.
2023-05-22T16:50:30+05:30

SME IPO: Crayons Advertising public offer fully subscribed within hours of opening on Day 1

Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.
2023-05-22T15:08:51+05:30

ECGC IPO likely to be pushed to next fiscal amid volatility

The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.
2023-05-21T08:16:08+05:30

DRHP filing for IREDA listing likely in 6 months

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.
2023-05-19T23:17:16+05:30

SME IPO: Hemant Surgical issue to open on May 24. 10 things to know about the offer

Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements
2023-05-19T15:05:38+05:30

Vasa Denticity SME IPO: 10 things to know about the public offer

Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'
2023-05-18T21:41:00+05:30

Nexus Select Trust REIT IPO listing likely on Friday. What to expect

Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.
2023-05-18T15:41:14+05:30

Crayons Advertising SME IPO: 10 things you must know before investing

Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.
2023-05-18T12:46:22+05:30

Manyavar promoters to launch OFS

The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.
2023-05-18T06:49:56+05:30

SME IPO: Remus Pharmaceuticals gets muted response on Day 1. 8 key things to know about the issue

Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from
2023-05-17T21:40:54+05:30

SME IPO: Crayons Advertising IPO to open on May 22, price band fixed at Rs 62-65

Crayons Advertising, a homegrown integrated advertising agency, is set to go public on Monday, May 22, with a price band of Rs 62-65 per share. The company plans to use the proceeds from the public issue to invest in setting up its own film and animation studios and enhancing its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech.
2023-05-17T13:26:42+05:30

SME IPO: Krishca Strapping Solutions gets strong response on Day 1. 10 things to know about the issue

Krishca Strapping Solutions has announced its Initial Public Offering (IPO), planning to raise Rs 18 crore. The manufacturing company, incorporated in 2017, specializes in making and selling high-quality steel straps, steel seals, strapping tools and other packaging solutions. The IPO's size consists of up to 33.2 lakh equity shares with a face value of Rs 10 each. The company has a steel strapping capacity of 18,000 MT annually and aims to use the net proceeds for setting up a new strapping line, repayment of debt and for other corporate purposes.
2023-05-16T21:37:03+05:30

Blackstone Group-backed Nexus Select Trust REIT to list on Friday

Nexus Select Trust, India's first retail assets-led real estate investment trust (REIT), backed by Blackstone Group, has raised over INR1.44bn ($19m), accounting for 45% of a $429m IPO, from 16 institutional investors in its fully-subscribed anchor book. The REIT owns 17 assets across 14 cities with Mumbai, Bangalore and Delhi being the primary markets. At the upper end of the IPO's price band, which was INR95-100 per unit, the issue was subscribed 6.55 times in the non-institutional investor category and 5.06 times by institutional investors.
2023-05-15T16:52:54+05:30

Nexus Select Trust REIT IPO allotment expected tomorrow. Here's how you can check status

Nexus Select Trust REIT IPO's share allotment is set to take place on May 16th, with the process being supervised by the registrar. Investors may receive shares based on a lottery basis. Investors can check their allotment status through the BSE or the registrar's website. Currently, Nexus Select Trust shares are commanding a premium of ₹2 in the unlisted market. The company aims to offer a pre-tax yield of 8% in FY24, at the upper price band, and will be India’s first REIT with rent-yielding retail real estate assets.
2023-05-15T16:06:53+05:30

Jupiter Hospital files DRHP with Sebi for Rs 900-1,100 crore IPO

Sources told ET that the total IPO size would be Rs 900 - 1,100 crore, and the company may consider a Pre IPO placement of Rs 123 crore.
2023-05-12T12:50:05+05:30

Nexus Select Trust IPO subscribed 5.7x

The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of ₹95-100 per unit.
2023-05-12T05:50:22+05:30

Nexus Select Trust REIT issue closes with 5.74 times subscription

Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.
2023-05-11T20:05:24+05:30

Nexus Select Trust REIT IPO sails through on Day 3

India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.
2023-05-11T13:06:11+05:30

JSW Infrastructure files papers for Rs 2,800-cr IPO

The ports business of the Sajjan Jindal-led JSW Group plans to deploy the proceeds of the public issue to retire its debt and fund capacity expansion projects. The IPO is entirely a fresh share issue.
2023-05-11T05:57:54+05:30

Nexus Select Trust REIT IPO receives 57% subscription on Day 2 of offer

Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyer’s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May.
2023-05-10T19:52:08+05:30

JSW Infrastructure files DRHP to raise up to Rs 2,800 crore via IPO

The JSW Infrastructure IPO is the third public listing by the JSW Group and follows 13 years after the public listing of JSW Energy in January 2010. JSW Infrastructure Promoters will not be diluting their current stake.
2023-05-10T10:38:41+05:30

Mankind Pharma rallies 32% on day 1

At Tuesday's closing price, Mankind Pharma was valued at a price-to-earnings ratio of 43 times its FY22 earnings. Mankind is now India's fifth largest pharma company by market value of ₹57,046 crore. Sun Pharma, Divi's Lab, Dr. Reddy's Lab, and Cipla are currently valued between ₹75,284 crore and ₹2.31 lakh crore.
2023-05-10T05:39:11+05:30

Nexus Select REIT IPO subscribed 28% on Day 1, non-QIB portion subscribed 42%

Nexus Select Trust real estate investment trust (REIT), which includes a fresh offering and OFS portion, was subscribed 28% on the first day of the IPO. The REIT has a price band of Rs 95-100 per unit and closed on May 11. A day ahead of the IPO, Nexus raised Rs 1,440 crore from anchor investors. At the upper band of Rs 100 per unit, the company has a market cap of Rs 15,150 crore and offers a pre-tax yield of 8% in FY24. It is the largest mall platform in India and includes 17 high-quality assets.
2023-05-09T20:45:45+05:30

Nexus Select Trust REIT IPO: India’s first rental yielding retail REIT opens. Should you subscribe?

Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore.
2023-05-09T09:42:03+05:30

Mankind Pharma IPO: What GMP signals ahead of listing on Tuesday

Mankind Pharma is set to list on May 9 with a premium of Rs 120 apiece according to grey market trends. The company is valued at a price-to-earnings ratio of 30 times FY22 earnings and has a market capitalisation of Rs 44,000 crore. The initial share sale of the company was subscribed 15.32 times with strong interest from QIBs and is the largest IPO so far this year. The company has 25 manufacturing facilities across India, a dedicated in-house R&D centre and a team of over 600 scientists.
2023-05-08T15:48:39+05:30

Alibaba logistics arm eyes up to $2 billion Hong Kong IPO: Reports

Cainiao Network Technology's initial public offering (IPO) plan comes after Alibaba flagged in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.
2023-05-08T09:27:58+05:30

TPG-backed RR Kabel files IPO papers with Sebi

RR Kabel proposes to utilise the net proceeds towards the funding of repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions estimated to be Rs 170 crores.
2023-05-07T13:19:34+05:30

GoI, Vedanta likely to discuss Balco IPO

The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.
2023-05-06T07:19:13+05:30

Select Citywalk, Elante Mall & more: India's largest mall platform - Nexus Select to launch REIT IPO on May 9

2023-05-03T16:57:28+05:30

Nexus Select Trust REIT IPO: 10 things to know about the first retail asset offering in India

India's first retail asset offering, Nexus Select Trust, will launch its IPO on May 9, closing on May 11, with a price band for its initial shares of between INR 95-100 ($1.28-$1.35). The company, which has 17 high-quality mall assets in 14 cities across India with a total leasable area of 9.2 million sq ft, is the country's largest mall platform. The IPO comprises a fresh issue of shares worth INR 1,400 crore and a sale of existing shares of up to INR 1,800 crore.
2023-05-03T15:45:40+05:30

Nexus Select Trust REIT IPO: Price band announced, check dates

Nexus Select Trust is India’s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities such as Delhi (Select Citywalk), Navi Mumbai (Nexus Seawoods), Bengaluru (Nexus Koramangala), Chandigarh (Nexus Elante), Ahmedabad (Nexus Ahmedabad One) among others.​
2023-05-03T09:08:19+05:30

Tata Play, ideaForge get nod for IPOs

Tata Play and drone maker ideaForge Technology have both received regulatory approval from the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs). Tata Play was the first company in India to use the confidential pre-filing of draft papers option for an initial share sale in December 2022, and obtained the regulator's observation letter on April 26.
2023-05-03T08:01:23+05:30

Leading drone maker ideaForge gets Sebi nod for IPO

The public issue comprises a fresh issue of Rs 300 crore and an offer for the sale of 48.69 lakh equity shares. The offer also includes a reservation for a subscription by eligible employees.
2023-05-02T20:32:35+05:30

Fincare SFB files draft papers with Sebi to raise funds via IPO

The IPO comprises fresh issues of up to Rs 625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by promoter and investor selling shareholders.
2023-05-02T19:40:32+05:30

Sebi returns IPO papers of Akme Fintrade

The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on February 16.
2023-05-02T19:31:05+05:30

Mankind Pharma IPO: GMP rises ahead of likely share allotment tomorrow. Here's how to check status

Mankind Pharma's Rs 4,326 crore initial public offering (IPO), the largest by a domestic drug maker so far in 2021 and with a 15.32 times subscription rate, will have share allotments made on 3 May via a lottery. Retail investor bids for the offer-for-sale fell below 100%. The IPO values Mankind Pharma at a price/earnings ratio of 30 times FY22 earnings, with its shares said to command a Rs 95-98 premium in the unlisted market, indicating an expected premium of 9% for the company when it lists. Mankind Pharma has 25 manufacturing facilities in India.
2023-05-02T14:10:15+05:30

Blackstone-backed Nexus Select Trust's Rs 3,200 cr REIT IPO to open on May 9

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.
2023-04-30T09:42:46+05:30

Eye on SME IPOs! 150-200 companies could enter D-Street in FY24

Industry experts predict that in FY24, more small and medium-sized (SME) companies will plan to go public, further increasing the amount of money raised, following over 100% YoY growth. In FY2022-23, IPOs collectively raised over INR 2,200 crore ($296m). This was achieved through 125 issues, and it is expected that 150-200 companies from this sector could list on Indian stock exchanges in FY24. Hem Securities has supported around 80 SMEs to become listed, with many instances of over 100% returns. The objective of the SME IPO Conclave was to encourage entrepreneurs to list and share success stories.
2023-04-29T09:23:27+05:30

Blackstone's Nexus Select REIT files offer document for Rs 3,200-cr IPO

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.
2023-04-28T20:57:53+05:30

Reliance targeting Jio Financial listing as soon as October: Report

The conglomerate, controlled by billionaire Mukesh Ambani, is in talks with Indian regulators to secure the necessary approvals for the market debut of Jio Financial Services Ltd. in Mumbai, one of the people said, asking not to be identified as the information is private. The parent is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit, according to an exchange filing in March.
2023-04-28T18:37:08+05:30

Golden Crossovers: These 6 stocks signal further bullishness

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.
2023-05-31T08:30:42+05:30

Asia stocks slump to monthly loss as China data disappoints

Asian stock markets are on course for a second consecutive month of losses, reflecting doubts about the post-pandemic recovery in China in particular, following weaker-than-expected factory activity in the world’s second largest economy. The MSCI’s Asia-Pacific index (outside Japan) was down 1% in early trading on 26 May, having fallen by 2.4% during the month as hopes for a stronger bounce-back in China have receded. Other factors mentioned include the likely inability of some advanced economy central banks to combat strong inflation, due to the uptick of China’s post-pandemic rebound.
2023-05-31T08:23:51+05:30

Dollar sags versus yen after Japan warning; Aussie slides on China data

The Australian dollar fluctuated after strong inflation data was offset by further indications of a slowdown in China. The Chinese currency slipped, reaching a six-month low in offshore trading. The yen also saw some fluctuations as it was little changed with the greenback at 139.82 yen, following a decrease of 0.46% on Tuesday after Japanese officials discussed the country's currency. The general manager at State Street in Tokyo believes the real line in the sand for Japan is 150 yen and if it surpasses 145 yen, Japanese officials are likely to start taking action.
2023-05-31T08:18:48+05:30

​5 NSE stocks signaling bears may take control on candlestick scan ​

2023-05-31T08:08:11+05:30

Big Movers on D Street: What should investors do with Hikal, JSW Energy and RVNL?

Benchmark indices, S&P BSE Sensex and Nifty50, rose on Tuesday, supported by foreign institutional investor inflows and firm Asian markets. The financial services, services, teck, capital goods, bankex, IT and industrials sectors rallied, while commodities, energy, telecommunication, auto and consumer durables pulled back. Hikal gained 8.5%, while M&M rose 4.08%, though shares in ONGC fell nearly 5%. Technical analyst Viral Chheda recommends investors should buy Hikal at the current price, buy JSW Energy above INR270 ($3.63), and buy RVNL above INR123 when considering limited downside risk and upward potential of 6-8 months.
2023-05-31T08:07:45+05:30

​2 major stocks signalling bullish reversal on candlestick scan​

2023-05-31T08:01:14+05:30

Markets to continue to buy at declines: Amisha Vora

From price correction perspective, I would say that broadly, yes, the correction is behind. I would think that, of course, price is a leading indication which takes the lead before the order pipeline visibility or numbers come in, but still I would not see a runaway rise in the IT pack still.
2023-05-31T08:00:00+05:30

Gold faces monthly fall on debt deal hopes, Fed policy outlook

Gold prices are heading towards their first monthly fall in three months, reflecting a reduced demand for bullion in light of potentially rising interest rates in the US and confidence in the country's debt deal. Spot gold has not moved from $1,958.02 per ounce with U.S gold futures at $1,957.80 remaining the same but down 1.6% for May. The possibility of the US Federal Reserve raising the interest rates next month has grown as economic data beats expectations.
2023-05-31T07:46:51+05:30

US shares close mixed, Nvidia's 3% rise offsets debt ceiling jitters

U.S. stocks closed mixed on Tuesday. The S&P 500 and the Nasdaq Composite have recorded monthly gains in May, while the Dow Jones Industrial Average closed lower. Nvidia's surge briefly propelled the company into the elite club of firms valued at $1tn but fell shy of it at $991bn. The debt-ceiling deal between President Joe Biden and Republican House of Representatives Speaker Kevin McCarthy is likely to pass but has received opposition from some right-wing Republicans. Higher interest rates, a resilient economy, and inflation remain concerns for investors.
2023-05-31T07:40:33+05:30

​5 Nifty50 largecaps hinting at bearish trend on Futures Short Positions scan​

2023-05-31T07:38:47+05:30

Oil edges up after steep losses ahead of US debt ceiling vote

Oil prices bounced back slightly as traders waited for the outcome of a vote on a bipartisan deal aimed at agreeing to raise the US's debt ceiling. Brent crude futures rose 11 cents to $73.83 a barrel and US West Texas Intermediate crude gained 8 cents to $69.54 a barrel. Both had dropped by more than 4% on Tuesday. The returns of Brent crude were down by 7% and US benchmark crude by 9%. Market participants were also looking out for data on US crude stockpiles later in the day.
2023-05-31T07:35:17+05:30

​These 8 Nifty50 largecaps see Aggressive New Long positions​

​This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest and price for the stocks have increased. ​
2023-05-31T07:28:14+05:30

Stock Market Live Updates: SGX Nifty signals a negative start; Asian shares trade mixed

2023-05-31T07:23:33+05:30

SGX Nifty down 45 points; here's what changed for market while you were sleeping

Option data suggests a broader trading range in between 18400 to 18800 zones while an immediate trading range in between 18500 to 18750 zones.
2023-05-31T07:01:00+05:30

Stocks in news: Adani Ports, Mankind Pharma, SBI, HDFC Life, Sona BLW Precision

Patanjali Foods has recorded 13% growth in its standalone net profit at Rs 264 crore for the three months ended March period. Revenue from operations during the quarter under review rose 18% to Rs 7,873 crore.
2023-05-31T07:00:00+05:30

India's growth momentum may continue in FY24: RBI

Inflation is already moderating and the external account is sound, the Reserve Bank of India (RBI) said, but the El Nino and its adverse impact on rainfall remain potential threats to macroeconomic stability and food prices. Furthermore, moderating global growth, protracted geopolitical tensions and a possible upsurge in financial market volatility, evident in the implosion of many regional US banks, pose downside risks.
2023-05-31T06:58:33+05:30

Mauritian Wadia group may play role in Go First saga

A Wadia group company with a stake in Indian biscuit maker Britannia Industries may become a point of contention for GoFirst's bankers. The bankers want loans obtained by the Indian carrier from Deutsche Bank to be collaterised in a common security pool. The consortium of public-sector banks funding GoFirst believes that collateral provided by Mauritius-based Leila Lands Limited for the loans obtained from Deutsche Bank is disproportionately higher compared to what was transferred for their loans, sources told The Economic Times.
2023-05-31T06:39:37+05:30

Resolution ecosystem to get a fillip with new rules

The RBI is working to establish necessary recognition and resolution measures and is working on the proposed securitisation of stressed assets framework, which will play a crucial role in effectively dealing with rising non-performing assets (NPAs).
2023-05-31T06:29:14+05:30

Central Bank preparing for a rainy day

Contrary to expectations of a massive surplus transfer to the government, the central bank raised its Contingent Risk Buffer (CRB) by 50 basis points to 6%, when the Economic Capital Framework adopted in 2019 prescribed the 5.5% to 6.5% range.
2023-05-31T06:24:54+05:30

Billionaire Anil Agarwal’s chip dreams stymied as India set to deny funding

Vedanta and Hon Hai, the assembler of a bulk of the world’s iPhones, have no previous significant experience in chipmaking. Their difficulty in finding production-ready technology underscores how hard it is to set up new semiconductor plants, massive complexes that cost billions to build and require very specialized expertise to run.
2023-05-31T06:18:30+05:30

RBI to restore HTM limits for government securities

The HTM limits, which were raised to 23% of net demand and time liabilities (NDTL) from 19%, applied to government securities eligible under the statutory liquidity ratio (SLR) facilities.
2023-05-31T06:17:04+05:30

RBI to ensure govt's fundraise is smooth despite global concerns

"The Reserve Bank would endeavour to ensure smooth completion of the government borrowing programme in line with the guiding principles of debt management while ensuring stable debt structure for the governments," the central bank said.
2023-05-31T06:11:22+05:30

HDFC Bank may buy 1.6% in HDFC Life from JV partner

In a similar move, ICICI Bank this week approved a proposal to increase its shareholding in ICICI Lombard General Insurance, aiming to establish the company as a subsidiary of India's second-biggest lender by market capitalisation.
2023-05-31T05:57:49+05:30

RBI to map out bigger global play for local payments system

The RBI's Payments Vision Document 2025 has already outlined expanding the global outreach of UPI and RuPay cards as one of the key objectives under the internationalisation pillar.
2023-05-31T05:53:28+05:30

Adani Ports Q4 net profit rises 5% to Rs 1,159 cr on high cargo volumes

One of the most profitable units of the sprawling Adani Group, APSEZ reported earnings before interest, taxes, depreciation and amortisation (Ebitda) of ₹3,270.7 crore, 27% higher on year. Its cargo volumes increased 11% on year as it handled 86.3 million metric tonne of cargo during the quarter.
2023-05-31T05:42:57+05:30

Go First lessors' plea contrary to law, says interim RP

Interim resolution professional (IRP) of Go First stated that seeking directions to take possession of the aircraft from the Delhi High Court would be "contrary to law". Taking possession of the aircraft would stop the airline's operations and lead to significant losses.
2023-05-31T01:09:54+05:30

Renewable energy boom stares at talent blackout

"The scale of the opportunity is something that is very exciting ... but there is a lack of talent and it is one of the challenges," said Sumant Sinha, chairman and chief executive of ReNew. In the next seven years, India will have to add 60 GW of renewable energy capacity every year to meet its aspirations across power and green hydrogen, and trained manpower is needed for this, he added.
2023-05-31T01:03:39+05:30

Mankind Pharma Q4 Results: Net profit jumps 52% YoY to Rs 294 crore

The company reported net profit of Rs 193 crore during the corresponding period of the previous year. Revenue from Operations at Rs 2,053 crore, up by 19% YoY.
2023-05-30T23:07:20+05:30

Amul MD Jayen Mehta on India's dairy sector, expansion plans, FMCG brands and more | Full interview

2023-05-30T22:38:19+05:30

Sebi puts in place guidelines for Investor Protection Fund, Investor Services Fund

The Securities and Exchange Board of India (SEBI) has issued comprehensive guidelines for Investor Protection Fund (IPF) and Investor Services Fund maintained by stock exchanges and depositories. The guidelines cover the constitution and management of the IPF, contribution to IPF by exchanges as well as depositories, and utilization of IPF. In addition, SEBI has issued a Standard Operating Procedure (SOP) indicating the process and timelines for the declaration of default of a trading member, processing of investor claims out of IPF, and review of claims. The new guidelines will be effective from 29 June.
2023-05-30T22:28:22+05:30

AMFI should form ethics committee to check individual misconduct: Sebi chief Buch

The mutual fund (MF) industry in India risks disruption by individual misconduct, according to Securities and Exchange Board of India chairperson Madhabi Puri Buch. Speaking at an event, she urged the Association of Mutual Funds in India to create an ethical committee to tackle such problems, ideally on a self-regulatory basis. Buch added that she believed the sector could expand from INR40tn ($535.25bn) to INR100tn, but that the industry also needed to invest in technology and systems.
2023-05-30T22:24:27+05:30

Gold rebounds as debt deal optimism weighs on dollar, yields

Gold prices rebounded on Tuesday as the dollar declined and Treasury yields dropped amid market optimism about the US debt ceiling arrangement. Spot gold surged 0.9% to $1,960.55 an ounce, while US gold futures increased 0.8% to $1,959.80. The lower dollar made bullion more affordable to non-US currency holders, while the 10-year Treasury yields hit a one-week low. Basic market optimism, along with traders squaring off end-of-month positions, further supported prices. However, gold could struggle until a new impetus comes along, according to Kitco Metals’ Senior Analyst, Jim Wyckoff.
2023-05-30T22:13:46+05:30

Jagran Prakashan Q4 Results: Net profit slides 56% YoY to Rs 23.27 cr

Jagran Prakashan, the publisher of Dainik Jagran, reported a fall in consolidated net profit to INR 23.27 crore in the fourth quarter ended March 2023. This is a 55.86% decrease from the year-ago period. Revenue from operations was INR 459.38 crore, up 8.19% from the year-ago period, while total expenses rose 28.85% to INR 486.92 crore. For the fiscal year ended March 2023, the company's net profit was down 9.26% at INR 196.78 crore, while its revenue from operations rose 14.86% to INR 1,856.17 crore.
2023-05-30T22:00:57+05:30

Promoter group Abrdn likely to offload entire stake in HDFC Life via block deal: Report

UK-based Abrdn is set to sell its 1.66% stake in HDFC Life via a block deal, which will take place on Wednesday. The stake is being sold at a price of INR563-585 ($7.62-$7.92) per share. During Q1 2021, HDFC Life Insurance posted a net profit of INR359 crore. Its net premium income for Q1 stood at INR19,426 crore, compared to INR14,290 crore year on year. Public shareholders have a 49.66% overall stake in the company, while mutual funds own around 4.09% and foreign investors have nearly 30%.
2023-05-30T22:00:18+05:30

Aureus Investment to sell 3.2% stake in Sona BLW via block deal on Wednesday: Report

Aureus Investment Pvt Ltd plans to sell a 3.25% stake in Sona BLW Precision Forgings for INR950 crore ($115m) through a block deal, with the floor price for the sale being INR500 a share. The sale will involve up to 19 million shares, with the base size of 12 million shares, and the block will take place on 23 June. In March, private equity company Blackstone sold its remaining 20.5% stake in Sona BLW, which resulted in strong demand from foreign investors.
2023-05-30T21:50:34+05:30

Ahead of Market: 10 things that will decide D-Street action on Wednesday

Indian equity benchmarks closed higher for the fourth consecutive day on Tuesday, supported by gains in banking, financial, capital goods, and industrial stocks, amid positive Q4 results and expectations of a normal monsoon season. The RBI annual report also suggested that India remains in an advantageous position, despite the uncertain global outlook. The Nifty rose 0.2% to close above 18,633, while the Sensex gained 123 points. The US and European markets remained cautious, with the Nasdaq closing higher. The MACD showed bullish trades on Tata Steel, Marksans Pharma, REC, NTPC, and India Cements, while Samvardhana Motherson, Stove Kraft, DLF, Apollo Hospitals, and GMDC saw bearish signs.
2023-05-30T21:42:38+05:30

ET Market Watch: Sensex, Nifty rise for 4th straight session; ITC, Infosys shine

2023-05-30T21:22:02+05:30

These 5 commodity stocks hit a new 52-week high. Do you own any?

2023-05-30T21:09:33+05:30

Market Trading Guide: RVNL, JSW Energy among 6 stock recommendations for Wednesday

2023-05-30T20:52:31+05:30

Suzlon Energy Q4 Results: Firm posts net profit of Rs 320 crore against Rs 205.52 crore loss YoY

Wind energy solutions provider Suzlon Energy reported a consolidated net profit of INR320 crore ($42.5m) for the quarter ended 31 March. This contrasts with the same period in 2022 when it posted a net loss of INR205.52 crore ($27.4m). Total income for Q4 was INR1700 crore ($226m), a decrease from INR2478 crore ($329m) in 2022.
2023-05-30T20:48:11+05:30

SBI Card plans to raise Rs 3,000 cr from debentures

SBI Card on Tuesday said it plans to raise up to Rs 3,000 crore by issuing debentures to fund business growth. The decision to consider and approve the proposal for raising funds through the issuance of non-convertible debentures (NCDs) aggregating to Rs 3,000 crore would be taken in June 5 board meeting, SBI Card said in a regulatory filing.
2023-05-30T20:44:31+05:30

Torrent Pharma Q4 Results: Firm back in the black with PAT of Rs 287 cr; board okays Rs 5000 crore fund raise

Revenue rose 17% year-on-year (YoY) to Rs 2491 crore in Q4FY23. The company said the performance was led by robust growth across branded markets including India and Brazil, Torrent said its board has approved a fund raise exceeding Rs 5,000 crores.
2023-05-30T20:43:08+05:30

Fake 1,000 still sloshing, new 500 sees a sharp spike

Overall a total of 2.25 lakh fake notes were detected during the fiscal down from 2.30 lakh a year ago. Besides the sharp increase in the demonetised Rs 1000 notes, counterfeit notes of the newly introduced Rs 500 notes also rose sharply, increasing 14% to 91,110 pieces in 2022-23 from 79,669 pieces a year ago.
2023-05-30T20:06:17+05:30

Nasdaq boosted by Nvidia, cautious optimism on temporary debt deal

At 12:22 p.m. ET, the Dow Jones Industrial Average was down 117.43 points, or 0.35%, at 32,975.91, the S&P 500 was up 3.47 points, or 0.08%, at 4,208.92 and the Nasdaq Composite was up 68.09 points, or 0.52%, at 13,043.78.
2023-05-30T19:58:06+05:30

Adani Ports Q4 Results: Cons PAT up just 5% YoY to Rs 1,159 cr, but sales surge 40%

The board has recommended a dividend of Rs 5 a share for the financial year ended March. The Adani Group firm recorded its highest-ever port cargo volumes at 339 million tonne in FY23, a 9% growth from the year-ago period.
2023-05-30T19:37:58+05:30

Mankind Pharma Q4 Results: Cons PAT jumps 50% YoY to Rs 285 crore, sales up 19%

For FY23, the company reported a 11% drop in consolidated net profit to Rs 1,282 crore, despite a 12.4% growth in revenue to Rs 8,749 crore.
2023-05-30T19:23:48+05:30

Gold prices hit 2-month low; may soften further

Gold prices may undergo further correction, providing some relief to families preparing for weddings this season. The prices fell below Rs 60,000 per 10 gm on Tuesday and were hovering around Rs 59,980 per 10 gm. The long-term outlook for gold remains bullish. The decline in gold prices can be attributed to various factors like dollar appreciation, rising interest rates, and weak demand in spot markets. Investors are advised to wait for further fresh investment but can start accumulating as the prices can beat around Rs 58,500 but are not likely to go below Rs 58,000.
2023-05-30T19:22:41+05:30

Suzlon Q4 Results: Company back in the black with Rs 320 cr net profit

Renewable energy firm Suzlon reported a consolidated net profit of INR 319.99 crore during the March 2023 quarter, primarily due to reduced expenses. While the total income from operation dipped to INR 1,699.96 crore, the total expenses of the company declined significantly, helping to post a net profit over the same quarter last year, when the company had a net loss of INR 205.52 crore. Suzlon has cumulative orders of 1,542 MW, including an order book of 652 MW plus orders secured subsequently of 890 MW.
2023-05-30T19:03:27+05:30

Patanjali Foods Q4 Results: Net profit rises 13% YoY to Rs 264 crore; dividend declared at Rs 6/share

The company's revenues for the same period rose by 18% to Rs 7,873 crore, with the dividend recommended at Rs 6 (300%) per share for the year. Although sales of edible oils decreased, revenues from the food and FMCG section tripled YoY from Rs 452 crore to Rs 1,805 crore in Q4 of FY23. Patanjali said its food products had gained market acceptance and contribute over 68.30% in EBIT in FY23.
2023-05-30T19:03:26+05:30

Force Motors hits 52-week high, 20% upper circuit on Rs 147 crore Q4 profit versus YoY, QoQ losses

Force Motors shares hit a 52-week high of INR1,718.70 with a 20% upper circuit on 22 June after reporting a consolidated net profit of INR147 crore for the quarter ended 31 March, compared with a loss of INR42.77 crore for the same quarter last year. The auto manufacturer's revenue for the reporting quarter was INR1,490 crore, up 70% YoY. Despite selling pressure in the auto stocks, the small cap stock gained and has rallied by 25%, maintaining a four-session winning streak. Its 1-year returns stand at 62% compared to the Nifty Auto index's 22%.
2023-05-30T18:40:51+05:30

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