India Financial News

Multibagger stock: MosChip Technologies' share price has experienced a remarkable surge over the past month. This IT stock has catapulted from approximately ₹136 to ₹295 per share, delivering a staggering 115 percent return to its positional shareholders.

IPO) of Luxury furniture maker Stanley Lifestyles was booked 9.64 times so far on the third day of the bidding process. The issue closes today. The category reserved for NIIs was subscribed by a little over 22 times while the retail investors subscribed the issue by over 8 times. Meanwhile, the QIB portion of the issue was booked at just 1.6 times.

workspace operator India Accelerator has added 250,000 sq ft across 7 centres in Pune, Gurugram and Noida. The company has added 3200 seats in Noida, 900 seats in Gurugram and 400 seats in Pune. With presence in multiple locations, India Accelerator has grown its portfolio to over 200 startups. This expansive network enables startups to benefit from shared knowledge, resources, and collaboration opportunities, driving innovation and success across the board. «This expansion with an investment USD 4 million will enable us to cater to a wider audience of innovators, creators, and entrepreneurs, providing them with the infrastructure and support they need to thrive,” said Abhay Chawla, co-founder and COO, IndiaAccelerator.

initial public offer (IPO) of Allied Blenders & Distillers (ABDL), which opened for subscription today, has been booked 10% so far on the first day of the bidding process. Retail investors are driving the demand with a subscription of 15%, followed by non-institutional investors, whose category was booked by 11%. The part reserved for employees was booked 60% while Qualified Institutional Buyers (QIBs) have not yet subscribed to the issue.

European Space Agency (ESA) has released an image of the Ram Setu, also known as Adam's Bridge, captured by its Copernicus Sentinel-2 satellite. This chain of shoals stretches 48 km, connecting Rameswaram Island in India and Mannar Island in Sri Lanka. It separates the Gulf of Mannar from the Palk Strait. The satellites carry an innovative wide swath high-resolution multispectral imager with 13 spectral bands and provide a new perspective of land and vegetation.

HDFC Mutual Fund has launched HDFC NIFTY100 Low Volatility 30 Index Fund, a passively managed fund that aims to track the NIFTY100 Low Volatility 30 Total Returns Index. The new fund offering or NFO is open for subscription and will close on July 5. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment of units under NFO. The investment objective of the scheme is to generate returns that are commensurate (before fees and expenses) with the performance of the NIFTY100 Low Volatility 30 Index (TRI), subject to tracking error.

INDIA bloc on Tuesday fielded Congress leader K Suresh as its candidate for the Speaker's position against Om Birla. Congress leader K C Venugopal and DMK's T R Baalu walked out of Defence Minister Rajnath Singh's office, refusing to endorse NDA candidate Birla without being offered the Deputy Speaker's position. Three sets of nominations were filed in support of Suresh, a Dalit leader and eight-term MP. Suresh, born on June 4, 1962, in Kodikunnil, Thiruvananthapuram, Kerala, is a notable figure in Indian politics. Affiliated with the Indian National Congress, he has served as a Member of Parliament (MP) for seven consecutive terms.

bad loan aggregator, National Asset Reconstruction Co (NARCL), has received four expressions of interest in response to its call for a second round of bidding to take over the debt of Sion Panvel Tollways, people familiar with the matter said. The second round for the project that links Mumbai with its southeastern suburbs and Pune was called in May after the earlier three bids were rejected by NARCL due to their low value. This is the first move by NARCL to recover bad debt since it started operations in January 2022.

Vibe Music has unveiled its new logo, Founded by Ketan Parekh and Virral Motanni, Vibe Music aims to bring a fresh perspective to the music industry. According to a statement, Vibe Music's goal is to be a source of innovation, offering a lively platform for both new and established artists. With a focus on variety, creativity, and quality, Vibe Music promises a unique musical experience. Apart from the logo launch, Vibe Music also released its new song, «Navkar Mantra.» Parekh, sharing his insights and love for music, said in a statement, «We see Vibe Music as a gathering place for talent, creativity, and new ideas. Our aim is to empower artists and connect them with fans all over the world. This is just the beginning of an exciting journey. Personally, I have always loved music and felt deeply connected to it. It's a passion that has driven me to support and promote the incredible talent we have in India. We believe that by fostering a supportive and innovative environment, we can help shape the future of music in India and beyond.»

Air Chief Marshal VR Chaudhari on Tuesday emphasised the critical need for India to invest in the modernisation of its armed forces amidst evolving security challenges. He was addressing the Capstone Seminar organised jointly by the Indian Air Force, the College of Air Warfare, and the Centre for Air Power Studies. Air Chief Marshal Chaudhari also underscored India's strategic culture and its relevance in facing current security challenges.

Also Read: Stanley Lifestyles IPO closes today: latest GMP, review, subscription status, key dates. Should you subscribe?The company will credit the shares into the Demat accounts of eligible investors on June 26 and will initiate refunds to unsuccessful bidders on the same day.Dindigul Farm IPO allotment status can be checked online through the BSE website or the official portal of IPO registrar.

Bank Nifty was up by 387.5(0.75%) at 25 Jun 2024 10:44:55 IST.Other stocks such as Ascom Leasing & Investments, Future Supply Chain Solutions, FILATEX FASHIONS, Suumaya Industries hit their fresh 52 wk lows today.

Hyundai India IPO: The Indian primary market is on the cusp of a historic event as it will witness the biggest-ever initial public offering (IPO) in the country. According to stock market experts, Hyundai India is offloading around 13 per cent of its stake in the upcoming IPO.

MintGenie, Singhal said that equity investments are always accompanied by higher risks and related volatility. A Special Opportunities Fund is no exception.The market is currently at valuation multiples which may not be called attractive, more so, for mid caps and small caps where the valuation premiums are above long-term averages. We don’t see a case for multiple expansions over the next couple of years (especially for mid caps and small caps).

In a recent interview to The Indian Express, G. Hari Babu, national president of National Real Estate Development Council (Naredco)—a real estate industry association—shared some interesting data: “There are 1.14 crore flats lying vacant in India. These are being bought as investment opportunities." This is not the first time such a comment has been made.

Also Read- Amara Raja shares hit 20% upper circuit after subsidiary signs licensing deal with GIBThe government has received around Rs1.5 trillion in fiscal support since the interim budget presentation on February 1st, primarily due to the extra RBI dividend of Rs1.2 trillion.Secondly, the actual fiscal deficit for FY24 was 25 bps lower than estimated in the February'24 budget. The buoyancy from income tax adds almost ₹300 billion to the cushion.

Indira Gandhi declared a state of Emergency on June 25, 1975, which lasted for 21 months. This decision, announced in a broadcast on All India Radio, came shortly after the Supreme Court granted a conditional stay on the Allahabad High Court verdict, declaring Gandhi's election to the Lok Sabha null and void. The Supreme Court also asked Gandhi to stay away from parliamentary proceedings.

INDIA bloc is unlikely to contest the Lok Sabha Speaker's post and the NDA nominee is likely to be elected unopposed, sources said Tuesday ahead of filing of nomination for the key post. However, the Opposition has demanded that they be given the choice to pick the deputy speaker. Defence Minister Rajnath Singh spoke to Congress president Mallikarjun Kharge late on Monday night and sought the support of the opposition on the issue. Singh, however, gave no assurance to the opposition on its demand for the deputy speaker's post, the sources said.

Rama Phosphates Ltd.(up 2.59%), Zuari Agro Chemicals Ltd.(up 1.26%), Madhya Bharat Agro Products Ltd.(up 0.71%), Aries Agro Ltd.(up 0.41%), Nagarjuna Fertilizers and Chemicals Ltd.(up 0.39%), Sikko Industries Ltd.(up 0.28%), Southern Petrochemicals Industries Corporation Ltd.(up 0.26%), Agro Phos India Ltd.(up 0.18%) and Chambal Fertilisers & Chemicals Ltd.(up 0.02%) were among the top gainers.

Sakthi Sugars Ltd.(up 6.99%), Magadh Sugar & Energy Ltd.(up 5.19%), KCP Sugar & Industries Corporation Ltd.(up 5.17%), Simbhaoli Sugars Ltd.(up 4.63%), Triveni Engineering & Industries Ltd.(up 3.24%), Rajshree Sugars & Chemicals Ltd.(up 3.12%), Bannari Amman Sugars Ltd.(up 3.10%), Bajaj Hindusthan Sugar Ltd.(up 2.99%), Shree Renuka Sugars Ltd.(up 2.88%) and Avadh Sugar & Energy Ltd.(up 2.74%) were among the top gainers.

Amar Kalkundrikar, Fund Manager, Nippon India Mutual Fund, says at Nippon the consumption thematic is about investing into companies that provide branded goods and services to consumers. It is a play on rising incomes, aspirations, and brand consciousness of Indian consumers. As their incomes rise, consumers are interested in premiumising their experiences across categories; they go for branded products and are willing to pay for it. That is the sort of behaviour we want to capture in our portfolios. Kalkundrikar further says Nippon MF has increased exposure to sectors where mass consumption revival should benefit, that includes basic FMCG, QSR, automobiles, where we have seen recovery already starting and of course, some of these home improvement categories.