Band Financial News

Multibagger IPO: The initial public offering (IPO) of Sahana System Limited was launched in May 2023 at a price band of ₹132 to ₹135 per equity share. The book build issue was proposed for listing on NSE SME exchange and it listed on the same on 12th June 2023 at ₹163 per share levels, delivering near 21 per cent premium to the lucky allottees. Those who had applied for the SME IPO with short term time horizon, must have booked profit and exited their respective positions.

₹267.00 apiece on the BSE. Jio Financial Services was listed on the stock exchanges on August 21. The stock was listed at ₹265 apiece on the BSE and ₹262 per share on the NSE as compared to its discovered price of ₹261.85 apiece.

Ratnaveer IPO: The initial public offering (IPO) of Ratnaveer Precision Engineering Limited has opened today and it will remain open for bidding till 6th September 2023. The engineering company has fixed Ratnaveer IPO price at ₹93 to ₹98 per equity share and it aims to raise ₹165.03 crore from this public issue. The book build issue is proposed for listing on BSE and NSE.

RailTel Corporation of India, India Pesticides and RattanIndia Power. BSE uses a circuit filter mechanism to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.

Metallica has delayed its second night of the M72 World Tour concert in Arizona as James Hetfield, the lead singer, contracted COVID-19. The renowned metal band had its first performance at Glendale's State Farm Stadium on September 1. They informed their fans through social media the next day that the Sunday, September 4 show would be rescheduled due to Hetfield's positive COVID-19 test. In their message on X (formerly Twitter), Metallica shared a photo of Hetfield's positive test and said, «We're very sorry to report that tomorrow's scheduled M72 date at State Farm Stadium has been postponed to Saturday, September 9, 2023, as, unfortunately, COVID has caught up with James. We're extremely disappointed and regret any inconvenience this has caused you; we look forward to returning to complete the M72 No Repeat Weekend in Glendale next Saturday.» During their opening show at State Farm Stadium on Friday, Metallica faced challenges as Hetfield experienced vocal problems, according to the Arizona Republic. The band also cut their set short by removing «The Day That Never Comes» and «Master of Puppets.» Despite the concert postponement, other events under the M72 Weekend Takeover in Phoenix were still set to proceed on Saturday and Sunday, according to Metallica's statement. These events included a tribute show, pop-up shops, whiskey tastings, and more. Following their rescheduled show in Arizona, Metallica will headline the Power Trip fest on October 8 in Indio, California. The next M72 Weekend Takeover is scheduled for November 3 and 5 at St. Louis' Dome at America's Center.

Investing.com — Has U.S. gasoline demand peaked for this time of year? Well, that’s what the Labor Day holiday supposedly says. 

The IPO, which closes on September 6, comprises fresh equity of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. Under the OFS, promoter Vijay Ramanlal Sanghavi will sell 30.4 lakh shares. The company has fixed a price band of Rs 93-98 per share and at the upper end, it is planning to raise Rs 165 crore. About 50% of the offer is set aside for qualified institutional buyers, 15% is reserved for non-institutional investors, and 35% for the retail category.

SoFi Stadium in California. This extraordinary incident, which captured the hearts of many online, reveals the story of Storm's daring escapade.

1) Company OverviewThe company is engaged in the business of manufacturing and supplying polypropylene woven fabric-laminated, polypropylene woven sacks, PP woven bags, PP woven bags with liners, printed laminates for flexible packaging, woven polymer-based products of different weights, sizes, and colors as per customer’s specifications.2) Industry OverviewIn India, packaging is the fifth largest sector in its economy and is one of the highest-growth sectors in the country. According to the Packaging Industry Association of India (PIAI), the sector is growing at a CAGR of 22% in the last few years.3) Issue sizeThe IPO is entirely a fresh equity issue of up to 7.2 lakh equity shares aggregating to Rs 5.76 crore.4) Price BandThe company will offer its shares at a price band of Rs 80 apiece, and investors can bid for 1,600 shares in one lot.5) Financial performanceFor the period ending December 2022, the company has recorded revenues of Rs 13.52 crore and net profit of Rs 57 lakh.6) Objects of the offerThe net proceeds from the public offer will be used to meet working capital requirements and other general corporate purposes.7) Lead managers and RegistrarHem Securities is acting as the lead manager to the issue, while Purva Sharegistry is the registrar.8) Issue StructureAbout 50% of the offer is reserved for retail investors, and the rest for other investors.9) Important DatesThe IPO opens on September 6 and closes on September 8.

In the current week, IPOs of three companies including Ratnaveer Precision Engineering, Jupiter Life Line Hospitals, and EMS Ltd, will open for subscription.Ratnaveer Precision Engineering IPO, which opens on September 4 and closes on September 6, comprises a fresh equity issue of 1.38 crore shares and an offer for sale (OFS) of 30.4 lakh shares. The total mop-up through the issue will be Rs 165 crore. The company is a stainless steel product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes, and tubes.

Patna: While the Centre has reduced the price of a LPG cylinder by Rs 200, the rate in Bihar is higher than any other state, while commodities are also very costly. In the last 20 days, the price of every essential item has spiked by up to 30% and the middle class, lower middle class and labourers are at the receiving end. When it comes to Arhar pulse (Pigeon Pea), Its price was floating in a band of Rs 120 to Rs 130 per kg some 20 days ago. Now, it has reached Rs 160 per kg. Gram pulse costs Rs 60 to Rs 65 per kg but now it is available in the market for around Rs 80. Moong pulse was also available at Rs 90 and now it has reached Rs 100 per kg in the retail market in Patna. Urad pulse was available at Rs 120 and now it has reached Rs 130 per kg. Sonam rice which was available at Rs 38 per kg has now reached Rs 45 to Rs 48 per kg. Ladli rice was available at Rs 42 and now it has touched Rs 50 per kg. Shristi rice was Rs 55 per kg and is now available at Rs 62 per kg. Basmati rice was available at Rs 70 per kg some 20 days ago and now it has reached Rs 80 per kg. Chura is considered the food of the poor people. It was available at Rs 30 per kg around 20 days ago. Now it has reached Rs 45. Flour was available at Rs 26 per kg and now it has reached Rs 35 per kg. Mustard oil was Rs 170, 20 days ago and is now Rs 190 per litre. Refined oils prices' have increased by 10 to 12 %.

It’s time to dust off that fitness band or smartwatch and start tracking your activity again. Clocking your steps and other fitness metrics really does result in more physical activity, recent studies show. And when families track their activity, it gets them out walking together and encourages them to set collective goals.

IPOs Next Week: The primary market witnessed some major listings in both main board and small- and medium-sized enterprise (SME) segments last month, which kept investors engaged with subscriptions and listings. Moving on, the upcoming week opens the market buzz for September, which is similarly packed with new listings and initial public offering (IPO) issues, that are available for subscription.

Vishnu Prakash IPO: After announcement of share allocation all eyes are now set on Vishnu Prakash IPO listing date, which is most likely on 5th September 2023, i.e. on Tuesday next week. Meanwhile, after announcement of Vishnu Prakash IPO allotment status, grey market has gone bullish on the public offer.

Ratnaveer Precision Engineering Limited IPO: The initial public offering (IPO) of Ratnaveer Precision Engineering Limited is going to hit primary markets on 4th September 2023, which means the book build issue will open for subscription on Monday next week. The public issue will remain open for bidders till 6th September 2023 i.e. till Wednesday next week.

Buy or sell stock: Following strong global cues, Indian stock market reversed the trend on Friday and ended higher. All key benchmark indices logged handsome gains but broad market indices failed to outperform key benchmark indices. NSE Nifty gained 181 points and closed at 19,435 levels, BSE Sensex surged 555 points and ended at 65,387 mark while Bank Nifty index went up 446 points and finished at 44,436 levels.

Typhoon Saola made landfall in southern China before dawn Saturday after nearly 900,000 people were moved to safety and most of Hong Kong and other parts of coastal southern China suspended business, transport and classes. Guangdong province's meteorological bureau said the powerful storm churned into an outlying district of the city of Zhuhai, just south of Hong Kong at 3:30 a.m.

In the last year, Skye Sanderson says she has lost everything.

Neeraj Mittal the new telecom secretary and S Krishnan secretary at the ministry of electronics & information technology, among a spate of high-profile central appointments. Among other key appointments cleared by the Appointments Committee of the Cabinet and announced Friday, Arunish Chawla will take over as secretary at the Department of Pharmaceuticals after October. He is now an officer on special duty in the same department. Vumlunmang Vualnam, who is additional secretary, Department of Economic Affairs, has been elevated to the rank of secretary and appointed at the ministry of civil aviation.

By Kopano Gumbi and Wendell Roelf

This week witnessed notable fluctuations in the global Forex market, particularly with the release of data from both the US and the Eurozone.