Jeyyam Global Foods has launched its SME IPO, aiming to raise Rs 82 crore, with a price band of Rs 59-61. The IPO will close on September 4, with shares likely to list on September 9 on the NSE SME platform. Proceeds will fund working capital, capital expenditure, and corporate purposes.
At West Bengal's Birbhum district, a nurse at a government hospital was allegedly molested and verbally abused by a male patient with high fever. The authorities promptly informed the police, leading to the patient's arrest. Hospital staff and doctors demanded round-the-clock security in a rally following the incident, noting that there has been minimal change in security measures since the tragic incident at RG Kar Medical College in Kolkata.
An official report has concluded that the helicopter crash in May, which took the life of Iran's Prez Ebrahim Raisi and seven others, was due to complex climatic conditions and sudden dense fog. The investigation found no evidence of sabotage in the helicopter's parts or systems.
Gujarat Gas Ltd. key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2023.
The Indian market is expected to consolidate on Monday due to mixed global cues. On Friday, Nifty futures gained 0.53%, closing at 25,398. India VIX fell by 2.86%, from 13.79 to 13.39. In the options market, the highest Call open interest is at the 26,000 and 26,500 strikes, while the highest Put open interest is at the 25,000 and 24,000 strikes.
In the aftermath of NASA's DART mission, over two million pounds of space debris have been created. This could lead to a man-made meteor shower, as debris from the asteroid Dimorphos might impact Earth or Mars in the next 10 to 30 years. The meteors will likely be small and visible from the southern hemisphere.
Gala Precision Engineering's IPO will open today, featuring a fresh equity sale of Rs 135 crore and an offer for sale of 6.16 lakh shares. The proceeds will fund a new manufacturing facility, capital expenditures, debt repayment, and corporate purposes. With a price band of Rs 503-529 per share, the IPO has garnered positive analyst reviews.
BJP leader Dilip Ghosh criticized West Bengal CM Mamata Banerjee for failing to protect women after a minor girl was allegedly molested in Howrah Government Hospital. An FIR has been filed, and the accused has been arrested. The incident has sparked protests and calls for the hospital superintendent's resignation.
Cummins India Ltd. key Products/Revenue Segments include Engines, Sale of services, Other Operating Revenue, Export Incentives and Scrap for the year ending 31-Mar-2024.<
ICICI Prudential Asset Management Co. is slashing holdings of sovereign debt in its top-performing dynamic bond fund, Manish Banthia, chief investment officer for fixed income, said in an interview. He’s instead putting money in investment-grade corporate bonds with one- to three-year maturity, and in certificates of deposits.
Hero MotoCorp reported sales of 512,360 motorcycles and scooters in August 2024, with domestic sales reaching 492,263 units. The company noted supply shortages affected August sales but expects recovery in September. Year-to-date sales have increased by 8% compared to the same period in the previous financial year. The company is gearing up for the festive season and has expanded its global presence by starting operations in the Philippines.
Japan's Nikkei average touched the 39,000 level for the first time since July, aided by a weaker yen and Wall Street's end-of-week gains. The stock market showed notable movements in Japanese exporters, with significant gains for major companies like Toyota and Honda. Investors remain cautious, closely monitoring U.S. labor data expected later this week.
Hvaldimir, a beluga whale that garnered global attention in 2019 for its suspected role as a Russian spy, was recently found dead in southern Norway. Discovered with a harness linked to Russian origins, Hvaldimir’s mysterious past made him a symbol of intrigue and human-animal connection. Despite being well-acquainted with humans, his death remains unexplained. The whale’s story, which once captivated the world, now concludes on a somber note.
More mid-cap stocks are joining the momentum party.
Launched in mid-2021, DBF-I was our second Performing Credit strategy. It gathered INR 1,700 crore from insurance companies, family offices, corporate treasuries, and HNIs.
Septembers are generally prone to profit booking especially if the two preceding months have had a rise of at least 0.5% each. However, a dragonfly candle formed in monthly chart points to bulls having upper hand as we enter September, having rejected several bear attempts, and broken free of their stranglehold, as is. Momentum indicators point to strength in trend, and could potentially pave way for large gains.
Yes, in the short term, we may see some consolidation and correction in gold, but overall, our view remains bullish, and we believe the price of gold is likely to move higher towards $2,560/$2,595 levels from its current level, with strong support at $2,465/$2,433.
UBS has upheld a buy rating on Axis Bank, raising the target price to Rs 1,250 from Rs 1,150. Recent underperformance, driven by sectoral headwinds and weak Q1 results, is expected to persist short-term. Structural changes may stabilize metrics, but a re-rating depends on stable credit quality and growth. The bank's current valuation discount to peers seems reasonable.
Asian markets mostly followed Friday's rally on Wall Street, with Japan's Nikkei up 0.5% and adding to last week's 8.7% bounce. MSCI's broadest index of Asia-Pacific shares outside Japan barely moved, while South Korean stocks edged up 0.1%.
