Foreign portfolio investors purchased $1.40 billion worth of Indian IT stocks in July, marking the highest since the April 2022 reclassification. The buying spree was fueled by anticipated U.S. rate cuts and positive earnings from major IT firms like TCS and Infosys. FPIs also showed interest in automobile and metal stocks, although financials faced outflows.
If Canara Bank shares are included in the banking index, the announcement of which is expected later on in the month from NSE Indices, it could lead to passive inflows worth about $45 million in the PSU bank stock.
The Bihar government has instructed district magistrates to register all unregistered temples, mutts, and trusts, and submit details of their immovable assets to the Bihar State Board of Religious Trusts (BSBRT). Law Minister Nitin Nabin emphasized compliance with the Bihar Hindu Religious Trusts Act of 1950 and warned of strict actions against non-compliance.
A large crocodile was spotted roaming the streets of Nangal Soti village in Uttar Pradesh's Bijnor district, causing a stir among residents. The reptile's unexpected appearance was captured in a viral video showing a man kicking the crocodile, which led to widespread condemnation online. The forest department arrived after a delay of two hours and safely captured the animal. The incident has ignited discussions on wildlife management and human interactions with wild animals.
UP RERA has referred 250 possession-related cases to adjudicating officers, emphasizing strict enforcement of its orders. Chairman Sanjay Bhoosreddy condemned promoters' delays and warned of heavy penalties for non-compliance. Adjudicating officers are tasked with expediting possession delivery and execution of sale deeds under Rule-24, with powers to attach units and appoint receivers if necessary.
Ashwini Kumar Tewari of SBI stated that rural growth is rebounding, supported by better agricultural yields and improved monsoon conditions. He also noted liquidity challenges within the banking sector and the need to focus on stable, retail deposits. SBI is actively implementing strategies to bolster deposit growth and ensure financial stability.
A total of 235,846 shares changed hands on the counter till 02:11PM (IST).
Nobel laureate Muhammad Yunus returned to Bangladesh from Paris to lead the interim government following Prime Minister Sheikh Hasina's resignation amid protests. He was welcomed at the airport and he will be sworn in by President Mohammed Shahabuddin. A likely 15-member government will oversee elections. Yunus urged calm and non-violence, emphasising the need to build the country peacefully after facing various challenges under Hasina's regime.
A survey of over 24,000 professional women showed that bias, mental exhaustion, and post-maternity setbacks are leading causes for women missing career opportunities. Despite high ambition and dedication, many face discrimination, especially in senior roles, highlighting the need for inclusive policies and supportive workplace cultures to retain talented women.
A total of 1,875 shares changed hands on the counter till 02:05PM (IST)
Ceigall India shares made a modest debut, listing at Rs 419 and later dipping to Rs 404, close to the IPO price of Rs 401. With significant contingent liabilities and competition as challenges, analysts recommend holding with a stop loss of 378. The firm specializes in EPC projects and maintains a strong order book.
Billionaire industrialist Yohan Poonawalla and Michelle Poonawalla have acquired a massive mansion in South Mumbai’s Cuffe Parade for over Rs 500 crore. Their MYP Design Studio will redesign the property. Yohan, a prominent businessman, oversees various companies and investments including Serum Institute of India. Michelle is the MD of Poonawalla Engineering Companies.
A total of 811,882 shares changed hands on the counter till 02:00PM (IST)
A total of 5,910 shares changed hands on the counter till 01:55PM (IST)
UPI Payments: The Reserve Bank of India rolled out a feature in August allowing delegated UPI payments. Primary users can approve transactions for secondary users, like minors, within set limits. The RBI also increased the tax payment threshold via UPI to Rs. 5 lakh, enhancing convenience and transaction speed.
Ola Electric's shares debuted on the exchange, but the Grey Market Premium remains negative. Despite strong IPO interest, market sentiment declined. Revenue grew to Rs 5,009.8 crore in fiscal 2024, driven by sales of the Ola S1 series. Key anchor investors included Nomura and HDFC Mutual Fund.
The Relative Strength Index of the stock stood at 70.91 on Thursday.
The IPO consists of a fresh issue of shares worth Rs 1,666 crore and an offer for sale (OFS) of up to 2,528 crore shares. At the upper price band of Rs 465, the OFS would be worth about Rs 2,528 crore. Ahead of the issue opening, the company raised Rs 1,886 crore from anchor investors.
A total of 31,731 shares changed hands on the counter till 01:45PM (IST)
Brainbees Solutions, operating the FirstCry brand, had its IPO fully subscribed by Thursday. A total of 10,047,296 shares were subscribed, surpassing the 4,963,904 shares on offer. The IPO, priced at Rs 465 per share, attracted strong interest from retail and institutional investors, with the employee segment seeing the highest oversubscription at over five times.
Bridgestone has introduced a new digital ad campaign to promote its latest Turanza 6i tyre, which promises a comfortable and quiet driving experience. The ad film combines CGI with live-action to highlight the tyre’s ability to absorb road imperfections. It targets different vehicle segments like SUVs and EVs, positioning it as a premium choice for drivers.
India's logistics and industrial sector experienced significant growth in H1 2024. Grade A and Grade B rents in major cities increased by 4.8% and 6.4% respectively, driven by strong demand for warehousing and manufacturing leases. The JLL report highlighted a 6.6% vacancy rate for Grade A properties and 15.4% for Grade B, with Grade A properties accounting for 70% of the 24.2 million sq. ft. absorption.
Promoters held 50.05 per cent stake in the company as of 30-Jun-2024, while FII and DII ownership stood at 5.65 per cent and 15.72 per cent, respectively.
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Flexible workspace provider Incuspaze leased 400,000 sq ft at the Alphathum building in Noida, following a significant funding round of $8 million. With a portfolio spanning 44 locations in 18 cities, Incuspaze's expansion highlights the rising demand for flexible workspaces. The transaction was facilitated by Colliers India.
