The initial public offering (IPO) of Bajaj Housing Finance was subscribed over 3 times on the second day of bidding on Tuesday, led by strong demand from non-institutional investors (NIIs). On Day One, the issue was subscribed 2.02 times. At 11:09 am, the issue attracted bids for 2,17,98,61,352 shares, or 3 times against the issue … Read more
Bajaj Housing Finance is set to launch its initial public offering (IPO) on Monday, September 9. Ahead of the public issue, the grey market premium (GMP) for the company’s shares stands at Rs 51-52, indicating a potential upside of 73% above the issue price. The price band for the IPO has been fixed at Rs … Read more
The shares of Baazar Style Retail debuted flat on the exchanges on Friday, below the pre-listing expectations. The stock then surged marginally to close 3% higher to IPO price on the first day. The shares of the company ended at Rs 399.65 or 2.74% higher at close of trade. As a leading one-stop shop in … Read more
Low cost carrier SpiceJet has said that Carlyle Aviation Partners — the aircraft financing unit of global private equity giant Carlyle Group — will convert a portion of their debt into equity. The agreement allows restructuring of certain aircraft lease obligations of SpiceJet aggregating to $137.68 million which upon settlement/waivers will be adjusted to $97.51 … Read more
September seasonality revealed that the Nifty PSU Bank index was a laggard, ending the month with declines on seven occasions in the last 10 years. Three scrips in the 12-stock index have given a dismal performance, falling more times than the index itself. These are Bank of India (BoI), State Bank of India (SBI) and … Read more
Nifty ended Monday’s session with a gain of 43 points to form a small negative candle with a minor lower shadow on the daily chart. The short-term trend of Nifty is intact. Though Nifty is placed at the hurdles of around 25,350 levels (1.382% Fibonacci extension), still there is no indication of any significant reversal … Read more
Even as Indian markets started the September series on a positive note on Friday, a look into Nifty’s performance in this month over the last 10 years reveal trends which are skewed in favour of the bears. The 50-stock index has managed positive closing on just four occasions with highest gains recorded in 2019. The … Read more
Global and Indian markets have been shining so far in 2024 with MSCI world up 13%, MSCI India increasing an impressive 21%, and small and midcap Indian indices almost 30%. For the remaining part of the year, global events would take centre stage as to how the equity market performs globally and headwinds seem more … Read more
Stating future growth prospects and profitability improvements, domestic brokerage firm JM Financial has reiterated its ‘Buy’ rating on Nykaa and revised its target price to Rs 250, suggesting an upside potential of 15% from the previous day’s closing price of Rs 217. The revision is driven by Nykaa’s robust performance in FY24 and its strategic … Read more
PSU stock Canara Bank has entered the Nifty Bank index at the cost of Bandhan Bank as part of the semi-annual rejig. Canara Bank’s average free-float market capitalisation stood at Rs 38,973 crore over six months as against Bandhan Bank’s Rs 15,945 crore. With its inclusion, Canara Bank is expected to receive flows of $ … Read more
