Inflation news live: India’s retail inflation eased to 5.5 percent in November

• Samsung has accused India's competition watchdog of unlawfully detaining its employees and seizing data in a raid carried out in connection with an antitrust investigation on Amazon and Walmart's Flipkart, a legal filing shows.
• Samsung is embroiled in the Competition Commission of India's (CCI) investigation that in August concluded that the South Korean giant and other smartphone companies broke anti-trust laws by colluding with Amazon and Flipkart to exclusively launch products online.
• Samsung's Oct. 11 filing in the High Court in northern city of Chandigarh seeks to quash the investigation findings related to conduct of the company, arguing the CCI had illegally seized material from its employees during a 2022 raid at one of Amazon's vendors.
• Three Samsung employees were present in the vicinity of the search when the watchdog's officials detained them, seized their phones and copied all the confidential and privileged data, the company said in its 32-page filing, which hasn't been made public. (Reuters)

• India’s retail inflation eased to 5.5 percent in November, falling from a 14-month high of 6.2 percent in the previous month, as food prices cooled off.
• Industrial growth picks up to a three-month high of 3.5%

“We are settling claims quickly and are working to make the process easier to improve the ease of living. A claimant, beneficiary, or insured person will be able to access their claims conveniently through ATMs, with minimal human intervention,” the Labour Secretary told ANI.

"The growing trend of real estate redevelopment in Mumbai is driving a sharper-than-normal rise in rental rates," Gautam Singhania, Chairman and Managing Director, Raymond Ltd, told Moneycontrol in an interview.

He warned that this could disrupt the market, with thousands of people seeking temporary rental housing during reconstruction, and developers overbidding to secure such projects. Read more

EPFO subscribers may likely be able to withdraw money from their provident fund accounts directly via ATMs starting next year. The plans to do so were announced by the Secretary with the Ministry of Labour and Employment, Sumita Dawra.

State-owned NBCC has been appointed as a project management consultant to complete Supertech Ltd's 16 real estate projects at a cost of nearly Rs 9,500 crore, a move that will provide relief to thousands of homebuyers.

NBCC will complete 16 projects, comprising 49,748 houses in Uttar Pradesh, Uttarakhand, Haryana and Karnakata. (PTI)

Vishal Mega Mart initial public offer (IPO) received 1.06 times subscription on the second day of the share sale on December 12. The maiden share sale by supermarket chain Vishal Mega Mart received bids for 80.25 crore shares against 75.67 crore shares on offer, as per NSE data at 2:15 PM.(Read More)

The latest Grey Market Premium for the Yash Highvoltage SME IPO stands at Rs 130, as per latest data by Investorgain.com. The latest GMP hints at solid listing gains.

The Yash Highvoltage IPO will open for subscription from December 12 to December 16. The share allotment will be finalized on December 17, with shares credited to the demat accounts of successful bidders and refunds initiated for non-allottees on December 18.

Yash Highvoltage Ltd., a leading manufacturer of transformer bushings, is set to debut its initial public offering (IPO) on December 12. The book-built issue, valued at Rs 110.01 crore, includes a fresh issuance of 64.05 lakh shares, amounting to ₹93.51 crore, and an offer for sale of 11.3 lakh shares, totaling Rs 16.50 crore.

The latest GMP for the Inventurus Knowledge Solutions IPO is Rs 375, as per Investorgain.com. With a price band of Rs 1,329, the estimated listing price is Rs 1,704 (cap price + current GMP). This indicates an expected per-share gain of 28.22%.

• Qualified Institutional Buyers (QIBs) - 0.03 times
• Non Institutional Investors(NIIS) - 0.26 times
• Retail Individual Investors (RIIs) - 0.69 times
• Employee Reserved - 0.21 times
• Total - 0.21 times

The promoters of the company are Narayanan Jayan, Mrs. Reshma Budhia, and Mr. Sudhanshu Budhia.

Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager for the Toss The Coin IPO, while Link Intime India Private Ltd acts as the registrar for the issue. Spread X Securities is the market maker for this IPO.

The price band for the Toss The Coin IPO is set at Rs 172 to Rs 182 per share. The minimum application requires a lot size of 600 shares, with a retail investment starting at Rs 1,09,200. For high-net-worth individuals (HNIs), the minimum investment is 2 lots (1,200 shares), amounting to Rs 2,18,400.

• The Toss The Coin IPO is a book-built issue worth ₹9.17 crores, consisting entirely of a fresh issue of 5.04 lakh shares.
• The IPO opened for subscription on December 10, 2024, and closes today, December 12, 2024. The allotment of shares is expected to be finalized on Friday, December 13, 2024. The shares are set to list on the BSE SME, with the tentative listing date scheduled for Tuesday, December 17, 2024.

• Qualified Institutional Buyers (QIBs) - 0.00 times
• Non Institutional Investors(NIIS) - 0.10 times
• Retail Individual Investors (RIIs) - 0.31 times
• Employee Reserved - 0.09 times
• Total- 0.08 times

You can apply for the Inventurus Knowledge Solutions IPO online using either UPI or ASBA as the payment method. ASBA (Application Supported by Blocked Amount) is available through the net banking facility of your bank account. UPI-based IPO applications are facilitated by brokers who do not provide banking services. For more details on applying for IPOs online, you can explore platforms like Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank, and SBI Bank.

• Qualified Institutional Buyers (QIBs) - 2.62 times
• Non Institutional Investors(NIIS) - 0.21 times
• Retail Individual Investors (RIIs) - 0.24 times
• Total - 0.88 timesSource- BSE

• The US Healthcare Ind  is valued at $4.8 trillion and is growing at a rate of 4-6%
• Company is focussing on physician clinical segment which is a $1.5 trillion market
• The entry barriers have become very high in the industry
• The drop in margin is due to the acquisition made last year
• The margin will stabilise at in early to mid 30% levels
• Company will be debt free in the next couple of years
• There was a small pre-ipo round done which is why the reduction in no of share in OFS
• Believe regulations will remain a tailwind for the compnay given the nature of the business

• As of September 30, 2024, IKS Health provides services to more than 778 healthcare organizations, including health systems, multi-specialty medical groups, and various outpatient and inpatient providers. Its prominent clients include Mass General Brigham Inc., Texas Health Care PLLC, and The GI Alliance Management.
• The company employs over 13,528 professionals, including 2,612 clinically-trained specialists, and operates a consultative sales force across the United States, Canada, and Australia.

Vedanta share price gained in December 12 trade ahead of the company's board meeting scheduled next week to consider the fourth interim dividend for the Financial Year 2024-25. (Read More)

• CEA Anantha Nageswaran: Q2 GDP growth dip to 5.4% could be because of number of factors. These could be temporary or more serious. But we are on track to reach 6.5-7% GDP growth in FY25
• CEA: Agenda of emission mitigation is a huge overhang on developing countries in terms of balancing economic aspiration and climate change management
• CEA: Private sector also starting to deploy its capital and that will continue. Capital formation as a share of GDP likely to be 35% in 5 years from current 30.8%
• CEA: Spike in global uncertainty but its not temporary. These are enduring challenges which will dictate trend growth

• Elon Musk has become the first person to reach $400 billion in net worth, the latest milestone for the world’s richest individual.
• The most recent catalyst was an insider share sale of his privately held SpaceX, which boosted Musk’s net worth by roughly $50 billion in one fell swoop to $439.2 billion, according to the Bloomberg Billionaires Index. (Read More)

Emerald Tyre Manufacturers Limited’s SME IPO made a stellar debut today! The stocks listed at Rs 180.5, representing a 90% premium over its offer price of Rs 95. (Read More)

In the unofficial markets, there is a strong sentiment for Inventurus Knowledge Solutions IPO. As per GMP monitoring site investorgain.com, the grey market premium for  Inventurus Knowledge Solutions stands at Rs 422, which hints at positive listing of the stock.

Emerald Tyre Manufacturers Limited's SME IPO made a stellar debut today! The stocks listed at Rs 180.5, representing a 90% premium over its offer price of Rs 95.

Fresh inflation figures are likely to make the Federal Reserve more cautious about the pace of interest-rate cuts — but not quite yet. Investors still widely expect the US central bank to cut borrowing costs by a quarter percentage point next week after a new report showed inflation rose in November in line with expectations. But persistent price pressures have also underscored concerns that progress toward the US central bank’s 2% target may be stalling. (Read More)

Founded in 2006, Inventurus Knowledge Solutions Limited (IKS Health) specializes in providing support services to healthcare enterprises by managing administrative tasks. The company assists doctors and other healthcare providers by taking care of their paperwork and administrative responsibilities. IKS Health's services include clinical support, medical documentation management, virtual medical scribing, and more.

The promoters of the company include Sachin Gupta, Rekha Jhunjhunwala, the Aryaman Jhunjhunwala Discretionary Trust, the Aryavir Jhunjhunwala Discretionary Trust, and the Nishtha Jhunjhunwala Discretionary Trust.

• Investors interested in the Inventurus Knowledge Solutions IPO can bid for a minimum of 11 shares, with additional bids to be made in multiples of 11 shares. Here's a detailed breakdown of the minimum and maximum investments required for retail investors and high-net-worth individuals (HNIs):
• Retail Investors
• Minimum Investment: Retail investors are required to bid for at least 11 shares, which translates to a minimum investment of Rs 14,619 based on the lower price band of Rs 1,265 per share.
• Small Non-Institutional Investors (sNII)
• Minimum Investment: For sNII, the minimum application size is 14 lots, equivalent to 154 shares. This requires a total investment of Rs 2,04,666 at the lower price band.
• Big Non-Institutional Investors (bNII)Minimum Investment: bNII applicants must bid for a minimum of 69 lots, amounting to 759 shares. This corresponds to a total investment of Rs 10,08,711 at the lower price band.
• Investors should ensure they meet the respective investment thresholds to participate in the IPO effectively.

The BSE SME IPO Index has witnessed a robust rally, surging nearly 18 per cent in the past three weeks to hit record levels. The sentiment reflected heightened investors' confidence in small and mid-market companies. (Read More)

ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, JP Morgan India Private Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd are the book-running lead managers for the Inventurus Knowledge Solutions IPO. Link Intime India Private Ltd serves as the registrar for the issue.

The price band for the Inventurus Knowledge Solutions IPO is set at Rs 1,265 to Rs 1,329 per share. Retail investors must apply for a minimum lot size of 11 shares, requiring an investment of Rs 14,619. For sNII (small non-institutional investors), the minimum application size is 14 lots (154 shares), amounting to Rs 2,04,666, while for bNII (big non-institutional investors), it is 69 lots (759 shares), totaling Rs 10,08,711.

The Inventurus Knowledge Solutions IPO is a book-built issue amounting to Rs 2,497.92 crores, consisting entirely of an offer for sale of 1.88 crore shares.

The Inventurus Knowledge Solutions IPO is opening for subscription today and closes on December 16, 2024. The allotment is expected to be finalised on Tuesday, December 17, 2024. The shares are set to be listed on the BSE and NSE, with the tentative listing date scheduled for Thursday, December 19, 2024.

Emerald Tyre Manufacturers Limited will make its market debut today with the listing of its shares on the NSE Emerge platform.

Emerald Tyre Manufacturers' IPO secured Rs 13.91 crore from anchor investors on December 4 during the anchor bid round.

The IPOs of Vishal Mega Mart, One MobiKwik, and Sai Life Sciences received strong subscriptions on the first day. The shares of all three companies are expected to be listed on the NSE and BSE on December 18. (Read More)

Chandhrasekharan Trirupathi Venkatachalam is the promoter of Emerald Tyre Manufacturers.

• The Emerald Tyre Manufacturers IPO offers a total of 5,185,200 shares, allocated as follows:
• Qualified Institutional Buyers (QIBs): 976,891 shares (18.84%)
• Non-Institutional Investors (NIIs): 733,187 shares (14.14%)
• Retail Investors (RIIs): 1,711,116 shares (33.00%)
• Anchor Investors: 1,463,781 shares (28.23%)
• This allocation ensures a balanced distribution of shares among different investor categories.

GYR Capital Advisors has been appointed as the sole book running lead manager for the Emerald Tyre Manufacturers IPO, responsible for managing the entire book-building process. Link Intime India will act as the registrar, overseeing the allotment and related processes. Giriraj Stock Broking has been designated as the market maker, responsible for maintaining an orderly market for the company's shares. The listing of Emerald Tyre Manufacturers' shares on NSE's Emerge platform is scheduled for today.

The IPO was oversubscribed 530.59 times overall, driven by strong demand from Non-Institutional Investors (NIIs) and Retail Investors. NIIs subscribed 912.18 times their allotted portion, while Retail Investors subscribed 558.11 times. The Qualified Institutional Bidders (QIBs) portion was subscribed 195.95 times.

Established in 2002, Emerald Tyre Manufacturers is a producer and supplier of a diverse range of tyres marketed under the GRECKSTER brand. The company’s product portfolio includes tyres, press-on bands, and industrial pneumatic tyres. Emerald Tyre Manufacturers also exports its products to several international markets, including the USA, UAE, Russia, and various European countries. The company maintains strategically located warehouses in Belgium, the UAE, and the USA.

In its Red Herring Prospectus, Emerald Tyre Manufacturers stated that it will not receive any proceeds from the offer for sale, as each selling shareholder will receive their respective portions of the proceeds after deducting offer-related expenses and applicable taxes. However, the company intends to utilise the proceeds from the fresh issue for capital expenditure, general corporate purposes, and offer-related expenses.

The Emerald Tyre Manufacturers SME IPO, comprising a fresh issue of 4,986,000 equity shares and an offer for sale of 199,200 equity shares with a face value of Rs 10 each, was priced at Rs 90-95 per share. The issue, valued at Rs 49.26 crore, garnered strong investor interest, closing with an oversubscription of nearly 530 times.

• This rule applies specifically to SME stocks listed on the NSE Emerge platform.
• The cap is intended to curb potential market manipulation and ensure fairer pricing for investors.
• While the cap limits initial gains, it does not restrict the stock's price from potentially appreciating further in subsequent trading sessions.

The National Stock Exchange of India (NSE) has introduced a new rule capping listing gains for Small and Medium Enterprises (SME) stocks at 90% of their issue price. This measure aims to prevent excessive price volatility during the initial trading day for these companies.

Investor enthusiasm for Emerald Tyre Manufacturers' IPO is evident, with the shares commanding an 89.47% grey market premium. This robust demand indicates a strong market debut is expected today

Good morning and welcome to our live coverage of top business news today. Stay with us for all the IPO action around listing of Emerald Tyre Manufacturers. This SME IPO has been commanding a strong GMP trend ahead of the market debut. However, there's a NSE cap on the listing gains. Also, today is the Day 2 of subscription for Mobikwik, Vishal Mega Mart and Sai Life Sciences.