Band Financial News

Pavement band drummer Gary Young has passed away at 70. He was the original drummer of the famous indie-rock band, and appeared on their famous debut, 'Slanted and Enchanted'. Gary Young was a drummer, producer, and studio owner. Pavement frontman Stephen Malkmus confirmed the death of Gary Young on social media on Thursday, August 17. “Gary Young passed on today. Gary’s pavement drums were ‘one take and hit record’…. Nailed it so well,” he wrote.

Moody’s Investor Service Friday affirmed India’s 'Baa3' rating with a stable outlook. The ratings agency said that rising growth will contribute to higher income levels and overall economic resilience.

₹75 per equity share of face value of ₹10 each. Bids can be made for a minimum of 1,600 equity shares and in multiples of 1,600 equity shares thereafter. Bondada Engineering IPO issue price is 7.5 times the face value of the equity share.

Jio Financial Services, the demerged financial services business of Reliance Industries, will begin trading on the exchanges on Monday. Currently, Jio Financial is part of key indices of the BSE and National Stock Exchange, including the Sensex and Nifty 50, at a constant price of Rs 261.8 a share. This price was derived through a special pre-open session conducted by the exchanges on RIL stock on July 20.

foreign exchange reserves are up by $708 million to $602.161 billion for the week ending August 11, latest data by the Reserve Bank of India (RBI) showed on Friday. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) increased by $999 million to $534.40 billion.

IPO Subscription Status: Pyramid Technoplast IPO was subscribed 1.61 times on day 1. Pyramid Technoplast IPO opened today (Friday, August 18) and will close on Tuesday, August 22. Pyramid Technoplast IPO received overwhelming response from retail investors on day 1.

agricultural chemicals manufacturer, opened today, August 18. The Crop Life Science IPO is an SME IPO and its subscription period ends on August 22. Crop Life Science aims to raise ₹26.73 crore for the IPO consisting of fresh issue of 51.40 lakh equity shares aggregating.

Reserve Bank of India is expected to again hold the policy rate in the next meeting, as the central bank awaits a clearer picture on the inflation trajectory, said Crisil in a report.RBI's next monetary policy meeting is scheduled for early October. «Uncertainty on the inflation trajectory has increased with the recent flare-up in food prices. Monsoon and weather disruptions, along with government interventions and global food supply will influence inflation outcome,» said the report titled 'RateView — CRISIL's outlook on near-term rates'.

rupee rebounded from its record closing low and opened 13 paise higher at 83.02 against the US dollar amid a pullback in the American currency. “The depreciation in rupee comes on the back of the recent spike in US dollar and treasury yields amid worries that the US Federal Reserve will keep interest rates elevated for a longer duration. The fall in Chinese yuan led to a slide in domestic currency on concerns over export competitiveness," said Amit Sajeja, Vice President Research - Commodities & Currencies at Motilal Oswal.

₹900 apiece on both NSE and BSE, delivering over 21 per cent listing premium to the lucky allottees. The book build issue was offered at a price band of ₹705 to ₹741 per equity share and the issue had received strong response by investors as well. However, the newly listed stock surprised market observers further by extending its listing premium further.

₹900.05 apiece on the BSE, as compared to the issue price of Rs 741 per share. Concord Biotech listing on NSE took place at ₹900.05 per share, a premium of 21.46 to the issue price. Concord Biotech IPO had received strong interest from investors as the public issue was subscribed by a robust 24.87 times in total during the IPO subscription period.

Pyramid Technoplast opens for subscription on Friday, August 18 and will be available for the public to bid till Tuesday, August 22. Most analysts advised investors to subscribe to the issue given the company's diversified customer base along with the comprehensive product portfolio. «At the upper price band, the company is valued at a P/E of 16.21x FY23 earnings with a market cap of Rs 611 crore post issue of equity shares and return on net worth of 29.61%.

Pyramid Technoplast IPO: The Initial Public Offering (IPO) of Pyramid Technoplast Limited is going to hit primary market today. The public issue has become open for subscribers today and it will remain open for bidders till 22nd August 2023. The company has fixed Pyramid Technoplast IPO price band at ₹151 to ₹166 and one log of the IPO will comprise 90 shares of the company.

Day trading guide for today: Following weak global market cues, Indian stock market finished lower on Thursday. NSE Nifty went down 99 points and ended at 19,365 levels, BSE Sensex lost 388 points and closed at 65,151 mark whereas Bank Nifty index went off 55 points and closed at 43,891 levels.

Concord Biotech IPO: Listing date of the Indian Public Offering (IPO) of Concord Biotech Limited has been fixed on 18th August 2023 i.e. today. As per the BSE notice, effective from Friday, August 18, 2023, the equity shares of Concord Biotech Limited shall be listed and admitted to dealings on the exchange in the list of 'B' group of securities.

IPO listing date has been fixed for Wednesday, August 23 on NSE and BSE. If you applied for the shares, here's how you can check allotment status of TVS Supply Chain IPO. If you have applied for the TVS Supply Chain Solutions IPO, you can check your TVS Supply Chain IPO allotment status immediately on the website of the IPO registrar, Link Intime India Private Ltd.

RBI wrote in its State of the Economy article. The annual retail inflation sharply rose to a 15-month high of 7.44% in July from 4.87% the previous month, fuelled by a sharp jump in vegetable and cereal prices.

low pressure area over the Bay of Bengal on Thursday, the IMD forecast very heavy rainfall at several places of Odisha till August 19, prompting the state government to put the district authorities on alert. The cyclonic circulation over the northwest Bay of Bengal has intensified into a low pressure area and under its influence, an intense cloud band is now moving across coastal Odisha into the interior districts, the IMD said.

RBI) upcoming rate hike, said Reuters in its report. "The short-end of the OIS curve is completely factoring in one more rate hike over the next few months while talks of rate cuts have died down for now," said Vijay Sharma, senior executive vice president at PNB Gilts, according to Reuters report. The five-year swap rate increased to 6.75% on Thursday, surpassing a level last recorded on February 27.

₹27.55 crore through an anchor book process today (Thursday, August 17). Pyramid Technoplast IPO opens for subscription on Friday, August 18, and closes on Tuesday, August 22. Four investors took part in the anchor book offering, according to the exchange filing of Pyramid Technoplast.

stagflation, a combination of economic stagnation with high inflation remains low in India despite a surge in prices, the Reserve Bank of India said in its August bulletin on Thursday. «Stagflation risk remains low for India with a probability of only 3% with easing of financial conditions, stability of the INR/USD exchange rate and steady domestic fuel prices,» a study conducted by the central bank showed. The uptick in June inflation mutated in July with the unprecedented shock to tomato prices spilling over to prices of other vegetables, said the RBI in its State of the Economy article. Earlier, on August 14, rising food prices sent consumer inflation soaring to a 15-month high of 7.44% in July compared with 4.87% in the previous month, breaching the upper tolerance band of RBI’s inflation target of 2-6% for the first time in FY24 and dashing any hopes of an early rate cut. High-frequency food price data for August so far shows prices of cereals and pulses continued to increase this month, according to the bulletin. Tomato prices, on average, registered a further increase, although more recent data indicates some pullback in prices, the RBI added.