Orient Technologies' IPO share allotment is likely to be finalized today, with shares getting allocated by a lottery system. Investors can check their allotment status via BSE or Link Intime India's website. Scheduled to list on August 28, the shares trade at a 40% premium. The IPO saw high subscription, especially from non-institutional investors.
A total of 4,188 shares changed hands on the counter till 10:04AM (IST).
Brace Port Logistics shares listed at Rs 152 on the NSE SME platform, 90% above the issue price of Rs 80. The IPO, a fresh equity issue of 30.5 lakh shares, was heavily oversubscribed. Funds raised will be used for warehouse upgrades, debt repayment, and general corporate purposes.
Omar Abdullah accused Mehbooba Mufti's PDP of mimicking NC’s manifesto and urged them to withdraw candidates in favor of the NC-Congress alliance. Both parties' manifestos emphasize restoring Article 370 and statehood. The first post-Article 370 abrogation assembly elections in Kashmir will be held in three phases starting in September.
Astronauts Sunita Williams and Butch Wilmore's brief mission to the ISS was extended due to issues with their Starliner capsule. Now part of the ISS crew until early 2025, they will conduct spacewalks, maintain the station, and engage in scientific research, supported by a recent supply delivery from a Northrop Grumman cargo mission.
Interarch Building Products' shares listed on the exchanges with a premium of 44.3% on Monday. The stock debuted at Rs 1,299 on the NSE and Rs 1,291.20 (43.5% premium) on the BSE, compared to an issue price of Rs 900 per share. Ahead of the listing, the shares were trading with a grey market premium (GMP) of 36% over the issue price.
The stock quoted a 52-week high of Rs 3152.3 and a 52-week low of Rs 2068.45.
Praj Industries Ltd, a capital goods stock, saw a 50% rise in three months before mild consolidation. Experts suggest potential for the stock to reach Rs 875, supported by bullish indicators such as Supertrend, RSI, and MACD. The stock found support above 650 levels, hinting at sustained upward momentum.
Forcas Studio listed on the NSE SME platform at Rs 152, a 90% premium over its issue price of Rs 80. The IPO saw overwhelming interest with over 400 times subscription. The menswear company, which operates online and wholesales under brands like ‘FTX’ and ‘Tribe’, reported revenues of Rs 96.07 crore for FY24.
Higher living costs around the world also encouraged a move toward cheaper coffee blends, while a growing consumer base in China drives higher soluble and overall coffee imports. Other robusta-heavy products are also on the rise.
Southern Africa's railways have become a hotspot for global investment as nations seek to streamline copper exports from Zambia and Congo.
Whirring wind turbines in India's Thar desert supply critical green energy for the world's most populous nation, but those living in their shadows say it comes at their expense. - 'Paying the price' - The deserts around Jaisalmer district in Rajasthan are dotted with hundreds of turbines, one of India's largest onshore wind farms.
Rekha Rakesh Jhunjhunwala-backed Baazar Style Retail has announced a price band of Rs 370-389 for its IPO, which will open for public subscription on August 30. The IPO will include a fresh issue of up to Rs 148 crore and an offer for sale of up to 1.76 crore shares by the promoter group and other selling shareholders. At the upper end of the price band, Rs 389, the total issue size will be Rs 835 crore.
Smallcap stocks have displayed notable earnings growth as 23 companies, including Shakti Pumps and GE T&D, reported consistent EPS increases over four quarters. The sector's robust performance is expected to continue, driven by telecom, realty, and healthcare, despite high current valuations. Analysts predict strong growth with a CAGR potentially exceeding 20% for FY24-26.
Gold October futures opened flat on Monday at Rs 71,766 per 10 grams, while silver September futures traded at Rs 85,001/kg. The market rose following hints of rate cuts by the Fed Chairman.
India's economic growth for the April-June quarter likely slowed to 6.9%, down from 7.8% in the preceding quarter, due to decreased government spending during the national election, as per a Reuters poll. Despite the BJP retaining power, it lost its majority. Future growth is expected to stabilize around 7.0%. Official data will be released soon.
Absentee voting allows those unable to attend polling stations to vote by mail. Key election terms include battleground states, which are highly competitive, and the Electoral College, where 270 electoral votes are needed to win. Super Tuesday is a significant date when numerous states hold their primaries.
On August 23, four Nifty500 stocks appeared in the bullish "White Marubozu" scan on StockEdge.com, indicating strong upward momentum with open-low and close-high prices.
In the US, the 22nd Amendment limits presidents to two elected four-year terms, though a president could serve up to ten years if they assume office through succession. Franklin Roosevelt is the only president to have served more than two terms, having been elected four times before the amendment was enacted in 1951.
Gilt funds are not recommended to regular debt investors because they are risky and volatile. Gilt funds suffer the most when the rates go up. The bond prices and yields move in opposite directions. When the rates go up, bond prices come down. This drags down the NAVs of schemes.
As per India's NDC, the country stands committed to reducing emission intensity of its GDP by 45 per cent by 2030, from 2005 level, and achieving about 50 per cent cumulative electric power installed capacity from non-fossil-based resources by 2030.
Several analysts have identified stocks with the potential to deliver up to 22% returns in the near term
The June quarter saw Zomato and 10 other companies achieving over 1,000% profit growth. Zomato's profit skyrocketed 12,550% year-on-year. Other remarkable performers were Shakti Pumps and Lotus Chocolate. Experts advise focusing on growth outlooks rather than past profits when making investment decisions.
India's Sensex and Nifty50 indexes opened higher on Monday, bolstered by financial and IT stocks, after U.S. Federal Reserve Chair Jerome Powell hinted at upcoming rate cuts due to reduced inflation risks and stable labor market conditions.
