AXY Financial News

NEW DELHI : Port operator JSW Infrastructure Ltd on Monday announced plans for a ₹2,800 crore initial public offering (IPO), the first from the JSW Group in 13 years. The IPO will open on 25 September at a price band of ₹113-119 per share, and will be entirely of new shares. “Big event for the group, it has been very, very categoric, you know, unless you create a business of a certain level and you have an appetite to grow when you see a growth in the sector, then we take public money, and the demand has been very good per se.

interest rate is predetermined and is based on how long you choose to keep the deposit. The returns on an FD are fixed when the account is opened, unlike market-led investments, where returns change over time. You will continue to earn the interest set at the beginning even if interest rates decline after you open a fixed deposit. The interest rate and type of deposit you select will determine our return on an FD. You can choose between receiving interest payments on a monthly or quarterly basis or reinvesting them to take advantage of compounding. Also read: Should FD investors wait or book their FDs now as RBI holds repo rate? Here are top banks are their highest and lowest rate offered to senior and general citizens for tenure ranging from 7 days to 10 years.

Tata Steel share price touched a new 52-week high on Monday's trading session, following the announcement of a joint agreement between the company and the UK government on a proposal to invest in cutting-edge Electric Arc Furnace steelmaking at the Port Talbot site with a capital cost of £1.25 billion, inclusive of a grant from the UK Government of up to £500 million. Tata Steel stock price touched intraday high of ₹134.85 and low of ₹131.85.

₹113 -119 per share for its initial public offering (IPO) which will open for bidding on 25-27 September, the company said on Monday. The Sajjan Jindal-led port business is looking to raise ₹2,800 crore through the IPO and will offer a fresh issue of shares as there will be no dilution of the promoter’s existing equity. According to an advertisement, Sajjan-Jindal and family trust hold the majority stake as the promoters.

The IPO, which is a first from JSW Group in nearly 13 years, is completely a fresh issue of shares worth Rs 2,800 crore. The company had filed the draft prospectus with Sebi in May this year. JSW Infrastructure is the fastest growing port-related infra company in installed cargo handling capacity and cargo volumes handled during FY21-23, and the second largest domestic commercial port operator by cargo handling capacity in FY23. The company's business operations expanded from one port concession at Mormugao Port Trust in Goa (acquired by JSW in 2002 and commenced operations in 2004) to nine port concessions across the eastern and western coast of India, making it a well-diversified maritime ports company. The nine port concessions have an installed cargo handling capacity of 158.43 MTPA as of June 2023.

Buy or sell stocks for today: Following strong global market sentiments after better-than-expected Chinese economic data, Indian stock market ended in green terriroty for third straight session. NSE Nifty ended at record close of 20,192 levels after climbing to a new life-time high of 20,222 during Friday deals.

Zee Entertainment Enterprises Ltd. The non-bank lender moved the National Company Law Appellate Tribunal (NCLAT) on 14 September against NCLT’s 10 August order approving the deal. “The adjudicating authority (NCLT) has failed to appreciate that the scheme is ex-facie illegal, unfair and unjust," said Axis Finance’s 43-page petition, a copy of which was seen by Mint.

Fixed Deposit Interest Rates September 2023: Fixed Deposit schemes have become attractive in 2023 as several banks are now offering over 8% interest to general as well as senior citizens. Here’s a look at the Fixed Deposit interest range offered by 30 banks, including small finance banks, in September, according to Bankbazaar data.

Nifty, we're projecting a target of 20400 to 20500 in continuation of this uptrend,” says Rajesh Palviya, Axis Securities. Edited excerpts:ET Now: Firstly, coming to you because just last week when we connected with you, you provided our viewers with four different stocks and they performed exceedingly well throughout this week. I recall that all of those were from the large-cap space. Firstly, congratulations for that. And you were also bullish on the markets. But now, with the indices at a record high level, do you believe that in the next week we will continue to build on these levels? Do you have any specific levels in mind?

Xi Jinping, has linked arms with two anti-Western states, declaring a «no limits» partnership with Russia and pledging «unswerving» support for North Korea. But the specter of a budding bromance between Russian President Vladimir Putin and North Korean leader Kim Jong Un, after their meeting this week in eastern Russia, may not be as welcome a development for Xi as it might initially seem. Closer ties between Pyongyang and Moscow could result in both countries being less reliant on Beijing. That might diminish China's perceived clout in global negotiations over ending Russia's war in Ukraine and curtailing North Korea's nuclear program. «I doubt Xi is overjoyed to see the Kim-Putin lovefest unfolding across China's border,» said John Delury, a professor of Chinese studies at Yonsei University in Seoul, South Korea.

North Korea's leader, Kim Jong Un, peeked his head into the cockpit of a fighter jet at a factory in the Russian Far East on Friday as he pressed ahead on a multiday tour of Russia that is enticing him at each stop with off-limits military technology. Although Russia's president, Vladimir Putin, hasn't promised Kim any of the weaponry and has vowed to abide by United Nations sanctions banning their transfer, the tour carried an implicit threat — an example of what analysts say is a growing danger posed by Putin's increasingly warm relationship with authoritarian leaders who can pose problems for the West. At the same time, according to U.S. officials, Putin is cultivating new sources of arms and munitions for his war against Ukraine. «I think it's really serious,» said Andrea Kendall-Taylor, a senior fellow at the Center for a New American Security, who previously led analyses of Russia by the U.S.

Axie Infinity (AXS) has blasted up +20% in a dramatic move, this comes following wider disarray in GameFi markets triggered by an unfolding legal battle between the co-founders of Gala Games.

(This story originally appeared in on Sep 15, 2023)

After the revision, Axis Bank offers interest rates between 3% and 7.10% on tenures ranging from 7 days to 10 years. Also read: Should FD investors wait or book their FDs now as RBI holds repo rate? The bank has reduced 50 bps on tenure ranging from 7 days to 29 days from 3.50% to 3%.While, it has increased by 25 bps on tenure of 46 days to 60 days from 4% to 4.25% The bank has reduced 10 bps on tenure ranging between 1 year 5 days to 15 months from 6.80 to 6.70. ON tenure of 1 year to 1 year 4 days, the bank reduced by 5 bps from 6.75% to 6.70%. Also read: Fixed deposit interest rates start seeing a dip in banks; how to select FD tenure now for maximum returns

Axis Bank with a target price of Rs 1150. The current market price of Axis Bank is Rs 1015.05.

JSW Infrastructure, the ports business of Sajjan Jindal-led JSW Group, will open for subscription on September 25. The issue closes on September 27. The IPO, which is the first from JSW Group in nearly 13 years, is completely a fresh issue worth Rs 2,800 crore.

Signature Global has proposed to raise Rs 730 crore through its initial public offering which will open on September 20.The company had filed the draft red herring prospectus with capital markets regulator SEBI in July last year. Price band for Signature Global (India) Limited is fixed at Rs 366 to Rs 385 per equity share of face value of Rs 1 each and the offer will close on Friday, September 22, 2023. Bids can be made for a minimum of 38 equity shares and in multiples of 38 equity shares thereafter. ICICI Securities Limited, Axis Capital Limited and Kotak Mahindra Capital Company Limited are the book running lead managers to the offer. Signature Global (India) Ltd. started operations in 2014 through its subsidiary, Signature Builders Private Limited, with the launch of Solera project on 6.13 acres of land in Gurugram, Haryana. As of March 31, 2023, it had sold 27,965 residential and commercial units, all within the Delhi NCR region, with an aggregate saleable area of 18.90 million square feet. The company's investor base includes IFC and HDFC Capital Advisors who participated in multiple rounds of capital raise undertaken by the Company. According to the red herring prospectus, which was filed on Tuesday, the total size of the IPO is up to Rs 730 crore, comprising fresh issue of shares up to Rs 603 crore and offer for sale of up to Rs 127 crore. The company said it plans to utilise Rs 264 crore for repayment or prepayment of certain borrowings, in full or in part.

real estate developer Signature Global will open for subscription on Wednesday, September 20. The company has fixed the price band for the issue at ₹366 to ₹385 per share. The three-day bidding for Signature Global IPO will conclude on Friday, September 22.

Zee Entertainment has been served with an appeal by Axis Finance against it in the NCLAT, Delhi challenging the NCLT's nod for its merger with Culver Max Entertainment, formerly known as Sony Pictures Networks India, the company said in a stock exchange intimation on Thursday. The Mumbai bench of the National Company Law Tribunal on August 10 granted approval l to the composite scheme between Zee, Sony, and Bangla Entertainment, a subsidiary of Sony. The NCLT had dismissed the objections raised by several lenders of ZEEL, including IDBI Trusteeship, IDBI Bank, Axis Finance, JC Flowers Asset Reconstruction Co and Imax Corp. Now, this order has been challenged before the NCLAT.

IPO listing date has been scheduled for Monday, September 18 on NSE and BSE. Jupiter Lifeline Hospital IPO opened for subscription on Wednesday, September 6, and closed on Friday, September 8. Jupiter Lifeline Hospital IPO received overwhelming response from non-institutional investors (NIIS) and Qualified institutional buyers (QIBs) on day 3.

₹2,800 crore IPO by the end of this month. As per reports, the JSW Infrastructure IPO will open on September 25 and close on September 27. Also Read: JSW Infra gets Sebi nod for its ₹2,800 crore IPO The ports business of the $23 billion JSW Group had filed draft papers for its IPO in May, aimed at retiring debt and fund its capacity expansion plans.