Booking Financial News

Multibagger IPO: Ace American investor Charlie Munger believes that money is not in buying and selling of stocks but in wait. The Vice Chairman of Berkshire Hathaway is of the opinion that investing in stocks is like investing in business and one should try and hold a stock as long as one can. This helps an investor to get compounding benefit as it enjoys return on the earnings it has got durin the investment period.

Newjaisa Technologies IPO: The initial public offering (IPO) of Newjaisa Technologies Limited is going to hit primary market on 25th September 2023 o.e. on Monday next week. The book build issue has been priced at ₹44 to ₹47 per equity share and it will remain open for bidding till 27th September 2023.

JSW Intrastructure IPO: The initial public offering (IPO) of JSW Intrastructure Limited is going to hit primary market on 25th September 2023 i.e. on Monday next week. The company has fixed JSW Intrastructure IPO price band at ₹113 to ₹119 per equity share and the book build issue will remain open for subscriber till 27th September 2023.

“Struggling Chinese economy and rising crude oil price pushed the dollar index. Elevated crude oil prices along with slower export may keep the rupee at a subdued level,” says Arpit Shah, Co-Founder, Care Portfolio Managers Pvt Ltd. In an interview with ETMarkets, Shah who brings in more than 15 years of experience in the capital markets said, “We advise investors to be company specific, and when you see sharp movement in the price it is advisable to keep rebalancing portfolio.” Edited excerpts:How should one play the midcap and smallcap theme now?Small and midcaps were in the consolidation phase for almost 18 months i.e. from September 21 till March 23. However, during those times, companies' fundamentals improved while valuations remained either flat or lower. So, we believe there is more steam left in this set of companies.

Indian defence sector registered an impressive growth of 12% year-on-year in the financial year ended March 2023. Strong order books led by increased government spending on defence and high exports contributed to this growth. However, this wasn’t the case ten years back.

“My day begins at 5:30 a.m. with an unwavering commitment to a 45-minute yoga session. Yoga has become the cornerstone of my daily routine, infusing my life with a profound sense of rejuvenation that resonates throughout the day,” says Sarbvir Singh, Joint Group CEO, PB Fintech. In an interview with ETMarkets, Singh said: “My personal journey is rooted in Ashtanga yoga, a demanding discipline that centres on the mastery of asanas and the art of breath control” Edited excerpts:Thanks for being part of the segment. Tell us a little bit about your daily regime—how do you keep yourself mentally fit? My day begins at 5:30 a.m. with an unwavering commitment to a 45-minute yoga session. Yoga has become the cornerstone of my daily routine, infusing my life with a profound sense of rejuvenation that resonates throughout the day.

The number of smallcap stocks which delivered double-digit gains during the week further fell to just 22. In the previous week, about 40 stocks had seen a double-digit rally, which too was a drop from about 100 double-digit gainers in the preceding week.IFCI was the top gainer in the smallcap pack with 37% rise, followed by KIOCL, which jumped 28% and EKI Energy Services, whose shares increased nearly 26%. Only three smallcap stocks have offered returns over 25% in this week.

Tata Capital is planning an IPO for 2025. Tata Capital is currently restructuring its business and expanding its board as part of the efforts, report Anirudh Laskar, Ranjani Raghavan, and Sneha Shah. Government officials met with alternative investment funds, startup founders and fund managers last week to understand why foreign investments had fallen ahead of the election cycle.

Updater Services IPO: The initial public offering of Updater Services Limited is going to hit primary markets on 25th September 2023 i.e. on Monday next week. The public issue worth ₹640 crore will remain open for subscribers till 27th September 2023.

economic activity to maintain momentum and private sector investments to pick up going ahead. “The private sector is in good health as data on advance tax payments for the second quarter confirm," the report said. “Therefore, in sum, the baseline estimate for India’s economic growth in FY24 is 6.5%, at 2011-12 prices," it added.

₹1,260 crore from 65 anchor investors, a day ahead of its IPO subscription opening for bidding. As per the regulatory statement, Global marquee investors like Government of Singapore, Monetary Authority of Singapore, Morgan Stanley, Fullerton, HSBC Trustee, TA Global, The Master Trust Bank of Japan, Cohesion MK Best Ideas, Goldman Sachs, Theleme India Master Fund, BNP Paribas Arbitrage - ODI, and Principal Global invested in the diversified maritime ports company via anchor book.

Long waits to receive new passports haven't yet eased from earlier this year, as the U.S. State Department works through a backlog of applications amid high demand for international travel.

Harry Potter" books in the US, the Empire State Building in New York will illuminate its facade in the distinct colors of Hogwarts houses at sunset on Wednesday, September 27. For those outside of New York, an exciting spectacle awaits as the Empire State Building's Tower Lights will transform into shades of red for Gryffindor, yellow for Hufflepuff, blue for Ravenclaw, and green for Slytherin. This enchanting display can be viewed via the Empire State's live cam. If you happen to be in New York, there's even more magic in store.

Australia’s government has reported a $14.2 billion budget surplus for the last fiscal year

National Bank of Canada is better positioned than many of its larger rivals to navigate a downturn that’s poised to hit banks’ balance sheets and customers, according to chief executive Laurent Ferreira.

Morgan Stanley has offloaded stake in Gurugram-based hotel operator SAMHI Hotels, which debuted on the exchanges on Friday. SAMHI Hotels listed at a mild premium of 8% on the NSE over its issue price. However, the stock rallied and closed at Rs 146 per share on the NSE, which is 16% higher than the IPO price of Rs 126. According to bulk deals data available with the exchanges, Morgan Stanley, through its various funds, sold a combined shares of 64.6 lakh. It is unclear how much stake in the company these shares amounted to as the shareholding pattern was not yet available with the exchanges. Post the listing, analysts recommended investors to book profits, mainly because of poor financials in the last three financial years. For the year ending March, the company's revenue from operations more than doubled to Rs 738 crore.

Bajaj Finance Ltd will meet on October 5 to consider and approve fundraising through equity instruments. Among the various options, the board will consider preferential issue of shares or qualified institutional placement issue, it said in a regulatory filing. However, the company did not mention the amount it plans to raise and the utilisation of the same. Bajaj Finance had a liquidity buffer of Rs 12,704 crore as of June- end. The capital adequacy remained strong at 24.61% as of June 30, with tier-1 capital at 23.01%. In the June quarter, the non-bank finance major added the highest-ever new customers of 3.84 million to its franchise, and said it was confident of adding 12-13 million new customers in FY24. In the last quarter, it added 95 new locations, with the geographic presence standing at 3,828 locations and over 167,000 active distribution points. The company’s deposits book grew 46% on year in the quarter gone by, and stood at Rs 49,944 crore.

Valiant Laboratories has set a price band of Rs 133-140 for its maiden public offer, which opens for subscription on September 27. The issue closes on October 3. At the upper price band, the company plans to raise Rs 152 crore.

Vaibhav Jewellers IPO Subscription Status: The initial public offering (IPO) of hyperlocal jewellery retail chain received a muted response so far from investors on the first day of its issue. Vaibhav Jewellers IPO has been subscribed 13 per cent so far on Friday, September 22. The public issue will remain open for bidding till Tuesday, September 26, 2023.

SAMHI Hotels and Zaggle Prepaid, even though in-line with Street expectations, were against the recent trend of robust gains on listing day. SAMHI opened with a mild premium of 8%, while Zaggle saw a flattish debut at its issue price. Even though Zaggle Prepaid is a unique player in the fintech industry, analysts said investors should exit positions as the IPO was aggressively priced. «Zaggle has a major dependency on third parties and has faced negative cash flow and a decline in its profitability in recent years. The IPO valuation was also high.