BUSINESS
Yes Bank Chief Economist expects RBI to raise rates by 35 bps in December
Indranil Pal does not expect liquidity to be a major concern going ahead, and feels that if any corporate has expansion plans in the next few months, it may be better to tie up domestic funding sources as external borrowings may not be an option at the moment. Global interest rates are on the rise and the Rupee depreciation will also weigh on external borrowing costs.
IPO
Airox Tech files IPO papers, aims to raise Rs 750 crore
The IPO will be a pure offer for sale of upto Rs 750 crore by its existing shareholders and promoters. The OFS comprises of upto Rs 525 crore by Sanjay Bharatkumar Jaiswal and Rs 225 crore by Ashima Sanjay Jaiswal.
MARKETS
DIIs turn net buyers in Indian equities despite worsening risk sentiment
Indian markets have dropped for nine out of the last 12 sessions. Both the Sensex and Nifty have lost around 6.3 percent each since September 13. The Sensex dropped around 3,765 points while the Nifty declined 1,136 points over this period.
INDIA
SME IPOs of last year: 33 of 55 stocks trading above offer price
With supernormal returns over a short time, analysts said sentiment for such issues can change quickly and only a couple of disappointing listings are enough to dent investor confidence.
IPO
Electronics Mart public issue opens today, price band set at Rs 56-59
IPO will open for subscription on 4 October and close on 7 October. Anchor investors can bid on 3 October. The basis of allotment will be on 12 October and credit of shares on 14 October. The shares will be listed on bourses on 17 October.
INDIA
Ten-year bonds rally as crude oil slides, fuel hopes of entry in global index
FTSE Russell will announce the results of its debt index review on September 29 after close of US markets. India's bonds are also under review for inclusion by JP Morgan Chase & Co
EARNINGS
FIIs sold $1 billion in equities in the last eight sessions. Will FIIs stay invested?
Despite the heavy selling, some analysts expect foreign investors to keep buying Indian equities amid continued strong monthly data and falling crude oil prices.
INDIA
Rupee plunges further, dips past record 81.55 to a dollar
This was the eight out of nine trading sessions when the currency declined and lost around 2.28 percent in this period
IPO
State-run Wapcos files draft papers for IPO
Wapcos is a central public sector enterprise under the administrative control of the ministry of Jal Shakti
IPO
Electronics Mart IPO to run from October 4-7, eyes Rs 500 crore fundraise
Anchor investors can place their bids on 3 October. The finalisation of the basis of allotment will take place on 12 October and shares will be credited to the demat account of successful bidders on 14 October.
MARKETS
Indian rupee weakens past 81-mark for first time against US dollar
This was the seventh out of eight sessions when the currency dropped and lost over 2.51% in this period. So far this year, it fell around 8.48%.
IPO
Divgi Torqtransfer files draft papers to raise funds through IPO
The company is the one of the leading players supplying transfer case systems to OEMs in India. It is also the largest supplier of transfer case systems to major passenger vehicle manufacturers.
AUTOMOBILE
Royal Enfield parent Eicher Motors joins Rs 1-trillion MCap club
Earlier, Maruti Suzuki India Ltd, Tata Motors Ltd, Mahindra & Mahindra Ltd and Bajaj Auto have achieved this milestone.
EARNINGS
SBI becomes third Indian lender to surpass Rs 5 trillion market cap
SBI now ranks seventh most valued Indian company. Reliance Industries remains India's most-valued company, followed by Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank and Hindustan Unilever
IPO
Investors shrug off inflation worries, drive Nifty to scale 18,000 level
At the open, the BSE Sensex hit a high of 60,551 points, while the Nifty 50 touched the 18,000 mark for the first time since April. The rupee strengthened 0.54 percent to hit a six week high of 79.12 a dollar, while the 10-year bond yields dropped 4 bps to hit a near five-month low
IPO
Oyo, Snapdeal, Droom IPO plans await SEBI nod even after a year
The regulator said it is awaiting clarifications from the lead managers of these companies or has sought comments from other regulators and agencies
IPO
Harsha Engineers sets price band at Rs 314-330 a share for September 14 public issue
The IPO will open for subscription on September 14. The current grey market premium for the IPO stood at between Rs 140-150 a share
IPO
Harsha Engineers IPO opens for subscription on September 14
The IPO, which closes on September 16, consists of a fresh issue of Rs 455 crore and an offer for sale of shares worth up to Rs 300 crore
INDIA
Sensex, Nifty outperform global equity benchmarks since mid-August
India’s strong relative outperformance over the past few weeks may reflect investors’ belief about the Indian economy being in a relatively better position versus other economies
IPO
Vaibhav Jewellers files draft IPO papers with Sebi to raise funds
The IPO consists of a fresh issue of Rs 210 crore and an offer for sale of upto 4.30 million shares by its existing promoter Grandhi Bharata Mallika Ratna Kumari (HUF)
HEALTH-AND-FITNESS
Blue Jet Healthcare files draft papers with SEBI to raise funds via IPO
The IPO consists of a pure offer for sale of upto 21.68 million shares by its existing promoters and shareholders.
IPO
Bajaj Finance and Adani Transmission drive LIC out of 10 most valued companies league
Bajaj Finance and Adani Transmission have replaced LIC on the list of top 10 most valued firms with a market cap of Rs 4.4 trillion each
INDIA
FII flows into debt turn positive in August, but Jackson Hole prompts caution
However, inclusion of Indian sovereign bonds in global bond indices, if and when that happens, may funnel flows into domestic debt.
IPO
Tamilnad Mercantile Bank sets price band of Rs 500-525 a share
One of the oldest private sector banks in the country, Tamilnad Mercantile Bank offers a range of banking and financial services primarily to micro, small and medium enterprises, agricultural and retail customers.
