INDIA
Prudent Corporate Advisory prices IPO at Rs 595-630 per share
The IPO will open for subscription on 10 May and close on 12 May. Bidding for anchor investors will open on 9 May.
BUSINESS
Delhivery IPO | Price band set at Rs 462-487 a share; firm valued at Rs 35,283 crore
The firm said the IPO would open for subscription on May 11 and close on May 13.
MARKETS
RBI policy: 10-year bond yield surges 30 bps, biggest jump in 5 years
The 10-year bond yield jumped to 7.38% after RBI in a surprise announcement hiked the repo rate by 40 basis points to 4.4% and the cash reserve ratio by 50 bps to 4.5%
IPO
Markets tumble as RBI stuns with 40bps rate hike, 50bps rise in CRR; other factors also at play
Investors were already cautious ahead of the outcome of the US Federal Reserve's policy meeting expected later in the day
IPO
LIC IPO to remain open for subscription on Saturday
The IPO, which kicked off today and will close on 9 May, will see the government sell around 221.4 million shares of LIC to raise around Rs 21,000 crore.
BUSINESS
Delhivery IPO may open on May 11, close on May 13; issue size reduced to Rs 5,235 crore
The proceeds from the public issue will fund the company's organic and inorganic growth initiatives via acquisitions and other strategies.
BUSINESS
Venus Pipes IPO opens for subscription on May 11
The proceeds from the issue will be used to finance capacity expansion and to meet long-term working capital requirements, the company has said
BUSINESS
Ahead of LIC IPO a look at some worrying spots
While the cheap valuation compared to peers is a positive, losing market share to peers, not all decisions taken by the largest life insurer in the country being sync with shareholders’ interests, weak digital presence, and accumulated losses of Rs 6,028 crore are worrying some analysts
IPO
Market volatility may deter companies from launching IPOs after LIC share sale ends
Many companies that have lined up IPOs are in a wait-and-watch mode because market conditions are ‘dicey,’ according to analysts
INDIA
LIC books nearly Rs 43,000 cr profit from sale of investments during Apr-Dec of FY22
Profit from sales of investments, largely equity assets, were already 93 percent of the record profits amassed by the life insurer of Rs 46,187 crore in FY21.
INDIA
LIC aims to mop up Rs 5,630 crore from anchor investors
The IPO will be a pure offer-for-sale of up to 221.37 million shares. The firm reserved around 59.29 million shares for the anchor investor portion. The employee reservation portion is at 1.58 million while policyholder reservation at 22.14 million. QIB portion set at 98.83 million
BUSINESS
India's most valued firm Reliance crosses Rs 19 trillion in market cap
The stock hit a record of Rs 2,757 on BSE, up 1.7 percent intraday
IPO
LIC to become fifth most-valued listed firm in India
LIC has reserved 10 percent of the issue size for policyholders and 5 percent for employees. The IPO will have Rs 60 per share discount for its policyholders.
BUSINESS
Adani Power becomes sixth group firm to pop into Rs 1 trillion club
Stock hit an all time high of Rs 270.80 on Monday and rose as much as five percent from previous close. Shares have surged over 165 percent this year and gained 46 percent this month.
BUSINESS
Will FIIs make a comeback to India?
The selling spree by foreign institutional investors shows no sign of abating. Some analysts are optimistic that they will return, attracted by India’s economic growth potential.
IPO
Rainbow Children's Medicare IPO to start from April 27
The IPO comprises a fresh issue of Rs 280 crore and an offer for sale of up to 24 million shares by shareholders and promoters.
IPO
Campus Activewear sets price band for IPO at Rs 278-292 a share
The issue is expected to open for subscription on April 26 and close on April 28. Allotment of shares will be on May 4 and the company plans to list on exchanges on May 9
INDIA
Five stocks contributed to 7% fall in Sensex, Nifty in nine sessions
HDFC Bank, HDFC, Infosys, TCS and Wipro accounted for 80 percent of the drop in the nine trading days from April 5 to April 19
BUSINESS
PSU Index gains 10% in last 9 sessions, outperforms Sensex, Nifty
Since the start of the month, BSE PSU Index gained 7 percent, while Sensex and Nifty declined 3 percent and 3.6 percent, respectively
BUSINESS
Campus Activewear IPO to open on April 26: Know the issue size and other details
The IPO comprises a pure offer for sale of up to 47.95 million shares by its existing shareholders and promoters.
BUSINESS
Selloff binge knocks HDFC out of MCap list of top 10 companies in India
Shares of HDFC have fallen 12.24 percent over the past one year. The HDFC stock declined nearly 19 percent since April 4, wiping off more than Rs 90,000 crore in market capitalisation. HDFC Bank shares too suffered a similar fall with investors left poorer by over Rs 1.66 lakh crore
INDIA
Inflation spike drives 10-year bond yields to fresh 3-year peak at 7.2%
The 10 year bond yield rose 8 basis points in the opening to hit a high of 7.278 percent
BUSINESS
Hotting Up: Stocks of AC makers surge as temperature rises
In the last three weeks, shares of AC manufacturer Blue Star gained about 16 percent. Stocks of peers Symphony and Voltas have surged 14 and 21 percent, respectively, since the start of March.
BUSINESS
Why did bond yields shoot up post RBI policy? Soumyajit Niyogi of India Ratings explains
The monetary policy committee voted to keep the benchmark repurchase rate at 4 percent and retained its “accommodative” stance. The RBI raised its annual inflation forecast to 5.7 percent from 4.5 percent, which analysts say indicates a rate hike in coming months.
