Realty firm Eros Group anticipates around Rs 900 crore revenue from its new housing project 'Eros Sampoornam 3' in Greater Noida West. The project, featuring 726 units over 5.5 acres, is set for delivery by 2028. Early sales success highlights strong demand for premium residential properties.
The IPO with a face value of Rs 10 per equity share is entirely a fresh issue of up to 1.20 crore equity shares. The offer also includes a reservation for a subscription by eligible employees and a discount is being offered to eligible employees bidding in the employee reservation portion.
Bandhan Bank has updated its deposit rates, introducing a new one-year fixed deposit scheme at 8.05% and discontinuing the one-and-nine month scheme. Senior citizens will receive 8.55% for the one-year deposit. The bank also offers 8% for deposits from one year one day to one year nine months and a five-year tax saver deposit at 7%.
Just like gravity anchors objects to the ground, economic fundamentals usually dictate the direction of equity markets. Yet, in the short run, particularly during economic booms, markets can appear to defy this natural order, leaving investors perplexed by this seeming paradox.
When an industry stays in deep trouble for a long time, there are some players who are able to survive. How do they do it ? Either by changing the way they operate in terms of management ability, by adding new products or any others. The paper industry has been facing multiple challenges, now after years of consolidation in which many players exited, there are few left and have achieved a scale. Numbers are reflecting it, when will the street start to have a look at them more kindly and shed the old bias it has against some of the sectors.
Bajaj Housing Finance's IPO saw a remarkable response, listing at a 114% premium. The issue was subscribed 64 times, breaking records with bids worth ₹3.23 lakh crore and 8.9 million applications. Strong parentage, reasonable valuations, and growth prospects drove the interest, positioning Bajaj Housing Finance for significant future growth.
Bitcoin's 3% drop to $58,271 comes amid investor uncertainty following the Trump assassination attempt, leading to over $116M in liquidations. All eyes now turn to the Fed’s interest rate decision, with markets split between a 25 and 50 bps rate cut, Avinash Shekhar, Co-Founder & CEO at Pi42 said.
Bajaj Housing Finance's stellar debut overshadowed the share trading of its competitors LIC Housing Finance and PNB Housing Finance, causing their shares to decline. Bajaj Housing Finance shares hit a high of Rs 165, after listing at a 114% premium of Rs 150, whereas LIC Housing Finance and PNB Housing Finance saw their shares fall to Rs 678 and 1,061, respectively.
Australia's new 'right to disconnect' policy allows employees to refuse work-related demands after hours, aiming to improve work-life balance. This policy could benefit India by reducing burnout and increasing employee satisfaction. However, challenges include ingrained corporate culture and the need for industry-specific approaches.
And jewellery market has been sluggish and has been down. And the revival of that is not necessarily to do with the revival of gold, but also an economy of jewellery and consumption generally in China.
The Adani Group has clarified that it has not issued any statements regarding Kenya amid circulating fraudulent press releases. The company emphasised the need to verify facts from official sources. Meanwhile, a Kenyan court has suspended a $1.85 billion deal for Adani to operate Nairobi's Jomo Kenyatta International Airport, and Kenya awarded Adani a $1.3 billion contract to build power transmission lines.
The Unique Identification Authority of India (UIDAI) has extended the free deadline yet once again, the deadline for uploading documents at no cost to modify an Aadhaar card.
Abneesh Roy, Executive Director at Nuvama Institutional, highlights the attractiveness of the food sector. He particularly favours Bikaji for its pure-play focus. He also mentions HUL and ITC among larger companies. With an edible oil duty hike, price increases are expected in H2, benefiting overall pricing growth despite some margin impacts.
Namo Bharat Rapid Rail Launched: Prime Minister Narendra Modi inaugurated India's first 'Vande Metro' service between Bhuj and Ahmedabad. According to Western Railway officials, the Ahmedabad-Bhuj Vande Metro service will stop at nine stations and cover the 360-kilometre distance in 5 hours and 45 minutes at a top speed of 110 kilometres per hour. It will depart from Bhuj at 5:05 am and reach Ahmedabad Junction at 10:50 am, the officials had said.
Indian stock markets are open today despite Eid-e-Milad-un-Nabi being a settlement holiday. While most brokers restrict selling stocks bought on Friday due to the holiday, Zerodha allows it. However, equity intraday profit credits and F&O credits are not available for withdrawal today.
A BJP fact-finding committee led by CN Ashwath Narayan visited the site of recent violence in Nagamangala, accusing the Congress government of failing to maintain law and order. The committee emphasized compensating innocent victims and punishing culprits. Karnataka Home Minister G Parameshwara announced legal action against those found guilty in the incident.
Available in Karnataka, the beer comes in two variants: Woodpecker Glide and Woodpecker Crest.
Kross' IPO was oversubscribed nearly 17 times by the close, fueled by strong demand from both non-institutional and institutional investors. In contrast, Tolins Tyres saw its IPO subscribed 25 times, reflecting solid investor interest.
HDFC Bank Q2 Results: HDFC Bank, India's largest private lender, will announce its second-quarter results for the period ending September 2024 on October 19. The bank previously reported a 35% increase in standalone net profit for the quarter ending June 2024. Interest earned also saw a significant rise, while gross non-performing assets slightly increased.
A total of 218,868 shares changed hands on the counter till time (IST).
A goods train engine derailed in Sonbhadra, Uttar Pradesh, early Monday after debris from a nearby hill fell on the tracks due to heavy rains. Rail traffic was disrupted for hours but no casualties were reported. The tracks were cleared and traffic resumed after the incident.
The commerce ministry is considering establishing a task force for the gem and jewellery industry to tackle sector challenges. This follows a meeting between the commerce secretary and industry leaders, who highlighted the need for policy support, enhanced liquidity, and a favourable business environment to boost exports amid global uncertainties.
Many lenders have recently adjusted their marginal cost of lending rates (MCLR). The Reserve Bank of India (RBI) maintained the repo rate at 6.50 per cent at the most recent monetary policy meeting. Under the marginal cost-based lending rates (MCLR) system, banks adjust their interest rates as soon as the repo rate fluctuates.
A total of 17,221 shares changed hands on the counter till 02:04PM (IST).
