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Latest Updates


Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.
2023-06-05T16:06:39+05:30


Noida-based company IKIO Lighting's Rs 607 crore initial public offering (IPO) will open for subscription on 1 June and close on 8 June. The company's stock is commanding a premium of Rs 92-94 in the unlisted market, indicating the demand for the shares, according to market sources. Grey market premiums are subject to change. The IPO consists of a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The net proceeds will go towards general corporate purposes, investment in subsidiary IKIO Solutions, repaying borrowings, and setting up a new facility in Noida.
2023-06-05T15:15:09+05:30


BYJU'S, the leading edtech company, will launch the Initial Public Offering (IPO) for its subsidiary Aakash Education Services by mid-next year. AESL is expected to earn revenue of Rs 4,000 crores with operational profits of Rs 900 crores in FY23-24. The IPO will provide significant capital infusion to enhance Aakash's infrastructure and reach, extending high-quality test-prep education to a larger number of students.
2023-06-05T13:39:28+05:30


Long-term investors may consider the IPO given the consistent growth in its contract manufacturing for Signify India (erstwhile Philips India) driven by new product development, strong position in customised lighting solutions in the growing segment of branded retail stores, superior operating margin than its peers, and emerging growth opportunities from exports by supplying lighting products for recreational vehicles in the US.
2023-06-05T06:25:07+05:30


Nuvama PE is currently investing from its third late-stage/pre-IPO fund under the Crossover Opportunities banner. This fund has so far raised ₹3,800 crore. The latest crossover fund has invested in companies such as Ola Electric and DailyHunt.
2023-06-05T05:56:16+05:30


IKIO Lighting has set a price band of Rs 270-285 per equity share for its upcoming IPO. The Noida-based company has reserved 50% of the offering for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The IPO comprises a fresh equity issue of up to Rs 350 crore and offer for sale of up to 90 lakh shares by selling shareholders. Meanwhile, Sonalis Consumer Products is set to launch an SME IPO on June 7 with a fixed price of Rs 30 per equity share.
2023-06-04T14:44:12+05:30


Maharashtra-based passive telecom infrastructure provider, Kore Digital's initial share sale opened on Friday with a price band of INR 180. This IPO is a fresh issue of up to 10 lakh equity shares of face value INR 10 each, aiming to raise around INR 18 crore. The net proceeds will be used to meet working capital requirements, investment in strategic acquisition, and other general corporate expenses. The allotment will be on June 12th and the shares will be listed on NSE Emerge on June 15th.
2023-06-02T21:08:16+05:30


Indian LED lighting solutions manufacturer IKIO Lighting is launching its initial public offering (IPO) June 6-8, with shares expected to start trading on June 16. The company's shares will likely be listed at between INR270 ($3.81) and INR285 per equity share, with the upper end of that range raising INR607 crore for the company. The IPO will include a fresh equity issue of up to INR350 crore and an offer for sale of up to 9 million shares. The proceeds will be used to repay borrowings, invest in subsidiary IKIO Solutions and for general corporate purposes.
2023-06-02T17:04:58+05:30


Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.
2023-06-02T06:01:12+05:30


Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
2023-06-01T13:27:29+05:30


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


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, 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


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 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


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


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, 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


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


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


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


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


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


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


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 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 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 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


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


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


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


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


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'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


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


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'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


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


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, 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


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


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 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 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 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


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


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


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


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


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


Morgan Stanley has retained its stance on Indian equity markets given relatively strong domestic demand, but has cut its active position on China overweight as its initial recovery momentum waned in April and May. Morgan Stanley said the US dollar's strength is delaying the timeline for overall earnings recovery for MSCI China.
2023-06-05T19:52:42+05:30


The net debt to EBITDA ratio is now at 2.81 times, the group said in a credit update.
2023-06-05T19:37:17+05:30


The Dow Jones Industrial Average rises 8.37 points; S&P 500 opens higher by 0.62 points and Nasdaq Composite drops 2.28 points
2023-06-05T19:09:38+05:30


Investments in equities or mutual funds should be made with a long-term horizon to avoid risks from timing the market, according to Bhuvanaa Shreeram, Co-Founder & Head of Financial Planning at House of Alpha. Investors should focus on balancing large-cap with small- and mid-cap funds, with 50% of the money going to the former and the remaining divided between the latter, she advised.
2023-06-05T19:08:33+05:30


2023-06-05T18:33:35+05:30


“The short-term trend of Nifty continues to be positive with rangebound action. The present consolidation movement is expected to continue within a high low range of 18700-18500 levels in the next 1-2 sessions,” Shetti said, adding that a decisive move above 18700-18800 is expected to bring more upside for the near term.
2023-06-05T18:20:46+05:30


SEBI and stock exchanges have included micro-small cap firms in their enhanced surveillance framework, prompting a large number of market stocks to suffer steep losses. The companies with a market capitalisation of less than Rs5 billion will be put under surveillance in a two-stage process.
2023-06-05T18:16:57+05:30


"Gold prices edged lower on the back of positive economic data points, higher US dollar and yields, offsetting support from the prospects that the Federal Reserve would pause its rate hikes this month," Navneet Damani, Senior VP - Commodity Research at Motilal Oswal Financial Services, said.
2023-06-05T17:25:53+05:30


In the Nifty pack, 25 stocks closed in the green, while 24 stocks ended in the red.
2023-06-05T17:22:59+05:30


Goldman Sachs is optimistic about India's medium-term growth prospects and recommends foreign investors build exposure in the emerging market due to its stable macroeconomics and strong historical track record. The bank favours domestic cyclicals, especially banks and investment cyclicals such as industrials and cement. It also expects themes like "make in India" and quality at a reasonable price to play out in the coming years. The bank has identified largecap compounders and midcap multibaggers as stocks investors should consider for increasing exposure in the medium term. India's aggregate equity market capitalization has surged 12-fold since 2003.
2023-06-05T17:21:54+05:30


The 30-share BSE Sensex closed up 240.36 points at 62787.47
2023-06-05T17:17:46+05:30


Jefferies' coverage universe of domestic companies reported a 30% YoY growth in fourth-quarter earnings, led by a strong financial performance. Meanwhile, revenue growth remained at mid-teen levels during the quarter. The brokerage is bullish on cyclicals, citing over 40% growth in property sales and cap-good order flow. Following the quarter, Jefferies raised FY24 estimates for 45% of 136 companies, while 51% were downgraded. Banks reported a 46% growth in earnings, while autos and pharma firms also saw positive results. However, IT firms had a weak quarter, with significant revenue misses and weak guidance for FY24 revenues.
2023-06-05T17:15:46+05:30


The 30-share BSE Sensex closed up 240.36 points at 62787.47
2023-06-05T17:12:33+05:30


The 30-share BSE Sensex closed up 240.36 points at 62787.47
2023-06-05T17:07:21+05:30


These 10 companies saw the biggest earnings per share (EPS) upgrade for FY24.
2023-06-05T16:57:34+05:30


While the Sensex closed at 62,787, up by 240 points or 0.38%, the broader Nifty50 settled at 18,594, up by 60 points or 0.32%.
2023-06-05T16:57:34+05:30


The Nifty Auto index closed 1.26 per cent up at 14570.25.
2023-06-05T16:57:03+05:30


The Nifty Pharma index closed 0.26 per cent up at 12934.5.
2023-06-05T16:51:50+05:30


The 30-share BSE Sensex closed up 240.36 points at 62787.47
2023-06-05T16:46:38+05:30


The Nifty Realty index closed 0.35 per cent up at 492.55.
2023-06-05T16:41:27+05:30


Midcaps have been on a good run of late, with the midcap index hitting an all-time high last week, while the Nifty is just 2% shy of record highs.
2023-06-05T16:40:31+05:30


Divis Labs, Tech Mahindra, Asian Paints, Nestle India and BPCL were among the top losers on NSE in today's trade.
2023-06-05T16:36:15+05:30


The NSE Nifty index closed 59.75 points up at 18593.85
2023-06-05T16:31:03+05:30


Stocks that were in focus include names like Bharat Electronics, up over 2% to hit a fresh 52-week high, GE Power India gained more than 18%, and Tata Motors closed with gains of 2% to hit a fresh high on Monday.
2023-06-05T16:30:32+05:30


2023-06-05T16:29:36+05:30


The Hi-Tech Gears, Anisha Impex, Mazagon Dock Ship, Anlon Technology Sol and Banswara Syntex, hit their fresh 52-week highs during the day.
2023-06-05T16:20:48+05:30


On Monday, the Indian rupee closed 29 paise lower at 82.68 (provisional) against the US dollar. The strength of the dollar in the overseas market weighed down the domestic unit. The rupee had opened at 82.47 against the dollar and touched a high of 82.45 and a low of 82.68 during the day. Analysts expect short-term volatility ahead of the Reserve Bank of India's meeting this week. The interest rate pause and weaker regional currencies could further weaken the rupee, according to reports.
2023-06-05T16:18:49+05:30


The NSE Nifty index closed 59.75 points up at 18593.85
2023-06-05T16:15:35+05:30


Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.
2023-06-05T16:06:39+05:30


The Nifty IT index closed 0.3 per cent down at 29238.75.
2023-06-05T16:00:11+05:30


Asian stocks followed Wall Street higher on Monday after strong US hiring data suggested a possible recession might be further away and that the US Fed would pause rate hikes this month.
2023-06-05T15:58:47+05:30


2023-06-05T15:46:39+05:30


Embassy Office Parks REIT has raised INR1050 crores ($142m) via coupon-bearing Non-Convertible Debentures (NCDs) in order to refinance bank loans by securing 138 basis points interest savings from a 7.77% coupon rate, compared to expected interest rates during repricing. The NCDs carry a “AAA/Stable” rating from rating agency Crisil and will be listed on the wholesale debt market of BSE. The funds were raised with the help of arrangers including Axis Bank, Barclays Bank and ICICI Bank. Embassy REIT owns and operates a 45m sq ft portfolio of nine high-quality office parks in India.
2023-06-05T15:32:40+05:30


Noida-based company IKIO Lighting's Rs 607 crore initial public offering (IPO) will open for subscription on 1 June and close on 8 June. The company's stock is commanding a premium of Rs 92-94 in the unlisted market, indicating the demand for the shares, according to market sources. Grey market premiums are subject to change. The IPO consists of a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The net proceeds will go towards general corporate purposes, investment in subsidiary IKIO Solutions, repaying borrowings, and setting up a new facility in Noida.
2023-06-05T15:15:09+05:30


Senior Binance management controlled five bank accounts belonging to its US affiliate, Binance.US. According to bank records from 2019 and 2020, Binance's Guangying Chen, a close associate of CEO Changpeng Zhao, was the operator for the accounts, including one holding American customers' funds. Binance.US employees had to ask Chen's team to process payments, including the firm's payroll. Despite Binance.US maintaining that it has always operated independently, the bank records and messages show that Binance maintained tight control over its US business's finances. Binance and Silvergate, which was wound down in March, did not comment.
2023-06-05T15:14:33+05:30


European shares struggled to maintain momentum on Monday after posting gains last week, as markets faced consolidation. The pan-European STOXX 600 index held within a tight three-point range, with London’s FTSE 100 index leading slight gains of 0.5%, due to rallies in energy firms following higher crude oil prices. Meanwhile, European oil and gas sector index rose by 0.9%, buoyed by an announcement from Saudi Arabia, which stated it was planning to cut production by one million barrels per day from July. The STOXX 600 had experienced declines of over 3% over May, marking its weakest monthly performance of the year due to concerns of a trading standoff between China and the US, and signs of a global economic slowdown.
2023-06-05T14:56:12+05:30


Tata Motors' shares rose 2.3% after the Tata Group announced plans to invest INR 13,000 crore ($1.8bn) in setting up a lithium-ion plant in Gujarat through Tata's Agratas Energy Storage Solutions unit and the Gujarat government. The plant will be situated in Sanand, northern Gujarat, and will have an initial manufacturing capacity of 20-gigawatt hours, which could be doubled later. The investment will occur in two phases, according to an official announcement by the Gujarat government, with work expected to begin in less than three years.
2023-06-05T14:19:02+05:30


Angel One reported a 1.7% YoY decline in gross client acquisition at 0.46 million in May, with overall client base at 14.58 million, up 44.5% YoY. Equity retail turnover market shares stood at 23.9% and retail turnover market share at 13.4% in cash. Angel One's Average Daily Turnover stood at ₹2,203,700 crore vs ₹2,197,800 crore in April. In the F&O segment, it was ₹2,167,100 crore, and in the commodity segment, it stood at ₹24,000 crore. Unique mutual fund SIPs registered were at 122070, down 18% MoM.
2023-06-05T14:14:30+05:30


On the technical charts, the 200-day moving average of the stock stood at Rs 3870.25.
2023-06-05T14:13:04+05:30


IT major Wipro has set June 16 as the record date for its proposed buyback of Rs 12,000 crore worth of shares. Shareholders have already approved the buyback of 26.97 crore shares on a proportionate basis through a tender offer, with the shares priced at Rs 445 per share. While the timeline for the buyback is yet to be announced, 15% of the shares - or 4 crore shares - in the buyback are reserved for retail investors, who can earn between 4% and 13%, depending on the extent of the buyback offer acceptance.
2023-06-05T14:11:01+05:30


The stock traded at a P/E multiple of 9.8, while the price-to-book value ratio stood at 2.59.
2023-06-05T14:02:46+05:30


Major cryptocurrencies including Bitcoin and Ethereum were trading in the red, while XRP, Solana, and Tron were showing gains. The overall cryptocurrency market capitalization has been range-bound at slightly below $1.2tn, indicating a lack of trend control. DeFi volume currently represents 8.67% of the total crypto market 24-hour volume, while stablecoins account for 92.65%. Despite the neutral sentiment shown by major market oscillators, investors are waiting for a significant narrative to emerge, and the cryptocurrency market is likely to remain sluggish.
2023-06-05T14:01:56+05:30


A total of 730,754 shares changed hands on the counter till 01:57PM (IST)
2023-06-05T13:57:33+05:30


The Relative Strength Index of the stock stood at 54.85 on Monday.
2023-06-05T13:52:21+05:30


Gold prices fell by 0.29% on the Multi Commodity Exchange of India due to the strengthening of the dollar index, which went above the 104 mark. The increase in the value of the greenback was primarily caused by strong US payroll data that may have put the rate pause at the backburner. The upcoming release of decent ISM non-manufacturing data is expected to cause gold to test support at $1,930, with resistance at $1,965 to $1,990. The price of physical gold in Delhi and Ahmedabad is currently about Rs 61,000 per 10 grams.
2023-06-05T13:49:45+05:30


As of 31-Mar-2023, promoters held 39.99 per cent stake in the company, while FIIs held 31.93 per cent and domestic institutional investors had 8.29 per cent.
2023-06-05T13:47:08+05:30


The stock quoted a 52-week high of Rs 27013.0 and a 52-week low of Rs 17900.0.
2023-06-05T13:41:53+05:30


​Tata Motors will be the stock of the year. I have been telling this from levels around 400 and even now I am telling it will be the stock of the year.
2023-06-05T13:41:20+05:30


BYJU'S, the leading edtech company, will launch the Initial Public Offering (IPO) for its subsidiary Aakash Education Services by mid-next year. AESL is expected to earn revenue of Rs 4,000 crores with operational profits of Rs 900 crores in FY23-24. The IPO will provide significant capital infusion to enhance Aakash's infrastructure and reach, extending high-quality test-prep education to a larger number of students.
2023-06-05T13:39:28+05:30


A total of 7,730 shares changed hands on the counter till 01:36PM (IST).
2023-06-05T13:36:41+05:30


A daily round-up of the most interesting articles to help jump-start the day.
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A daily round-up of the most interesting articles to help jump-start the day.
Mon, 01 May 2023 06:32:21 +0530


A daily round-up of the most interesting articles to help jump-start the day.
Mon, 01 May 2023 06:32:21 +0530


A daily round-up of the most interesting articles to help jump-start the day.
Mon, 01 May 2023 06:32:21 +0530

All NRI’s (other than from USA/Canada), can invest in most of the Mutual fund schemes, available in the market. NRI from USA/Canada are also allowed, but in selective Mutual Fund schemes, due to different compliance requirement of USA/ Canada regulators. To invest in Mutual Funds, investor must first complete the KYC (know your client) documentation, as per SEBI guideline, which involves copy & details of;

  • Overseas address proof
  • Pan card proof
  • Merchant Navy employee - copy of CDC proof

Shortlisting a Mutual Fund for NRI is very similar to a resident, especially if NRI is not from USA/Canada. For NRI from USA/Canada, the basket of fund is limited, and one has to cherry pick funds from what is available. It’s always recommended to consult (speak/ video-chat) with an advisor to shortlist funds, based on your preference, risk, charges & various other parameters. Regular reviews with your advisors, will give you the extra comfort & confidence, due to ever changing equity markets.

If the investment is made from a NRE Account, and during the redemption phase the investor is still an NRI, then one can take the credit back to the NRE account. Redemption proceeds (after deduction of taxes) are paid in rupees by cheque to the account number provided. Some banks also offer direct credit of redemption proceeds to the NRE/NRO account. Investments made via a NRO account, can’t be redeemed in NRE account. The investments carry the right of repatriation of capital invested and capital appreciation, only till the investor remains an NRI.

TDS is deducted at source on the redemption proceeds for any short-term gain. A TDS certificate is also issued digitally for every redemption made by the respective Mutual Fund Company. Short-term Investments in Debt Fund are taxed as per slab rates, whereas in Equity funds it’s at flat 15% p.a. currently. The definition of a short-term fund is holding it for less than 3 years for debt fund, and 1 year for equity and balanced funds (equity oriented).

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