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The floor price is 75 times the face value while the cap price is 79 times. Investors can make an application for the issue for a minimum of 18 shares and in multiples thereafter. The company is offering a discount of Rs 75 per share to the eligible employees of the company. Ahead of the issue, the company's shares are demanding a premium (GMP) of Rs 330 apiece in the grey market. The company plans to raise Rs 1,200 crore from the public issue with fresh equity aggregating to Rs 350 crore and an offer for sale (OFS) of Rs 850 crore. Under the OFS, promoters Fabbrica Italiana Lapis, Sanjay Mansukhal Rajani and Keta Mansukhal Rajani will offload shares. The offer is being made through the book-building process, where 75% of the offer is reserved for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors. The funds raised through the fresh issue are proposed to be utilised for the part funding of the cost of establishing a new manufacturing facility and for general corporate purposes. Doms Industries designs, develops, manufactures, and sells a wide range of 'stationery and art' products, primarily under its flagship brand 'Doms', in the domestic market as well as in over 40 countries internationally. Its core products such as pencils and mathematical instrument boxes enjoy high market shares — 29% and 30% by value in FY23 respectively.

Stocks that were in focus include names like Angel One, which rose 6.67%, Sobha, which fell 1.2%, and Tata Chemicals, whose shares increased 3% on Wednesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today. Angel One — Bullish The stock is trading in a rising wedge pattern and is consistently seen to be making higher highs and higher lows. With the overall trend being positive it is expected that Angel One should touch the 3300 mark.

Nifty is currently just 40 points away from hitting the 21,000 mark. «Markets saw a smart rally of 11% since the low of October end. Despite this sharp up-move, Nifty is trading at a 12-month forward P/E ratio of 18.4x, which is at a 9% discount vs its long-period average. Hence, we expect focus to shift towards the largecap stocks,» said Siddhartha Khemka, Head — Retail Research, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS Gift Nifty signals negative start Nifty futures on the Gift Nifty traded 56 points or 0.27% lower at 21,045.50, signalling a breather for the equity market bulls following a seven-day rally.

securitisation market grew 40% in the first half of FY24 to cross ₹1 lakh crore mark as investor demand for such assets increased, but it still remained less than 1% of the global securitisation issuances, said CareEdge ratings. Pass-through certificate (PTC) issuances account for over 50% of the volume of transactions surpassing direct assignment (DA) transactions.

capital market regulator would give private equity (PE) and venture capital (VC) funds some latitude only after they commit that the funds would not be misused to sidestep other financial sector regulations. The Securities & Exchange Board of India (Sebi) has come across dozens of cases, running to thousands of crores, where alternative investment funds (AIFs) — the technical term for PE/VC funds — acted as tools to evergreen sticky loans, circumvent foreign exchange laws, and bankruptcy code. «Don't tell me the fund manager didn't know what they were doing.

Reserve Bank of India (RBI) and European regulators are yet to resolve a standoff regarding the treatment of the local platform for government bond trading, Deutsche Bank, one of the affected parties, has had to stump up more than ₹1 billion in capital for central counterparty exposures in the last quarter. The massive increase in risk-weighted assets (RWA) for the German banking giant, which plays a major role in handling overseas investment flows into India, came after the European Securities and Markets Authority (ESMA) de-recognised the Clearing Corporation of India in October 2022. According to regulatory reporting documents seen by ET, Deutsche Bank saw its RWA for risk exposure to an unnamed central counterparty clearing house increase to ₹3.76 billion as on September 30 from ₹997 million as on June 30. RWA essentially implies bank capital that must be set aside in accordance with risks.

IRCON The union government has proposed to sell 8% equity in IRCON International through an offer for sale (OFS), which opens today. Network18 With a view to consolidate the television and digital news businesses, Network18 Group has proposed the merger of TV18 Broadcast Ltd with Network18 Media & Investments Ltd through a share swap deal. IDFC First Bank Global private equity firm Warburg Pincus is looking to sell $100 million worth of stake in IDFC First Bank through block deals on Thursday, according to news reports. Adani Ports The Board of Adani Ports will meet on December 12 to consider a fundraising proposal through issuance of non-convertible debentures and non-cumulative redeemable preference shares. RITES RITES has signed a memorandum of understanding (MoU) with Meghalaya Industrial Development Corporation Ltd (MIDC) to develop multi-modal logistics projects in Meghalaya. Brigade Enterprises The company has entered into a joint development agreement with the land owner to develop a premium ‘A Grade’ office space at Sankey Road in the Central Business District (CBD) of Bengaluru Dr Reddy’s Coya Therapeutics Inc and Dr Reddy’s Laboratories enter into an exclusive collaboration for development and commercialization of COYA 302, an investigational combination therapy for treatment of Amyotrophic Lateral Sclerosis (ALS). Bharat Electronics Bharat Electronics received an order of Rs 580 crore from Indian Army for AMC of radars. Paytm Paytm announced that it will expand credit distribution business to enhance focus on higher ticket loans for consumers and merchants in partnership with banks and NBFCs. Airtel Warburg Pincus to raise $211 million in Bharti Airtel block, ET Now reported.

stock market opens on Thursday (December 7). Asit C Mehta Financial Services Ltd: The Board of Directors of Asit C Mehta Financial Services at a meeting held on December 1 approved the Rights Issue. Also Read: SAIL, ZEEL, Delta Corp, 2 other shares placed under F&O ban list for today In an exchange filing, the company said: “Fixed record date for the purpose of determining the shareholders who will be eligible to apply for the issue as Thursday, December 7, 2023 (Record Date)." Also Read: FPI equity assets at 22-month high, overcoming October setback The board has decided and fixed ₹4,987.60 lakh as the Right Issue size, said the company.

RBI) Governor Shaktikanta Das will unveil the fifth monetary policy of the financial year 2023-24 on Friday, December 8, after a two-day review, as it observes the impact of global headwinds on India's macroeconomic indicators such as inflation trajectory and growth in gross domestic product (GDP). The review by the six-member Monetary Policy Committee (MPC) led by Das will likely indicate the course RBI will adopt in the remainder of the financial year as it seeks to strike a fine balance between sustaining growth and bringing inflation under the 4 per cent target amid high food prices.

By David Shepardson

Off the coast of eastern Long Island, an 800-foot tall turbine has begun sending electricity onto the U.S. grid from what’s set to be the country’s first commercial offshore wind farm

Also Read: Down 4%, Nifty Midcap 150 declines more than Nifty 50 in October on global headwinds In the last six months, both indices have clocked gains of 26.46 per cent and 33.68 per cent, respectively. Finally, even on a 12-month basis, both indices rose 32 per cent and 37.31 per cent, respectively - clocking the highest gains when compared to other major indices including Nifty 50 and Nifty 500, according to Motilal Oswal. In November 2023, the Indian stock markets experienced a notable upturn, as evidenced by around 6 per cent surge in the Nifty 50 index.

Adani Ports will meet on December 12 to consider a fundraising proposal through the issuance of non-convertible debentures and non-cumulative redeemable preference shares. «A meeting of the Board of the company will be held on December 12 to consider the proposal for issuance of non-convertible debentures and issuance/renewal of non-cumulative redeemable preference shares, on private placement basis/ preferential basis,» the company said in a filing. The fundraising will be done in one or more tranches. Shares of Adani Ports rallied over 23% in the last five days after the group received a shot in the arm on a Bloomberg report that quoted unnamed officials in the US International Development Finance Corporation (DFC) as saying that the allegations by Hindenburg Research were not relevant. The US agency had recently announced funding of $553 million for the Group's port business in Sri Lanka. In November, Adani Ports recorded strong cargo volumes of around 36 MMT, a robust 42% year-on-year increase. Growth was witnessed across all three broad cargo categories – dry bulk (over 60% YoY), containers (over 26%) and liquids and gas (over 23%). In the eight months of FY24 (April-November 2023), the company handled around 275 MMT of cargo, showing a healthy 21% YoY growth.

Duqm Port in Oman will be a key focus when Prime Minister Narendra Modi hosts Sultan of Oman Haitham bin Tarik here later this month. This will be Haitham bin Tarik's maiden trip to India since taking over as Oman's Sultan following demise of his predecessor Qaboos bin Said Al Said, who shared close and special bonds with India. Oman will inaugurate two key infrastructure projects in the Duqm Port complex ahead of the Sultan's India trip and facilities for India at the port will figure high on the agenda. Muscat has given facilities to the Indian Navy in Duqm Port to facilitate their presence in the Indian Ocean Region. The port overlooks the Gulf of Oman, the Indian Ocean and the Arabian Sea.

Bitcoin (BTC) has displayed resilience by surging to a more than 19-month high, even as global markets experienced a downturn. 

TLDR 

The Bank of Canada’s next interest rate decision is pretty much baked in as a “hold” as far as economists and markets are concerned although one expert warns that the governor Tiff Macklem should not treat “this week’s communications as a mere placeholder.”

IRCON International through an offer for sale (OFS), which opens on Thursday. The government will offload about 3.76 crore shares, which represents 4% stake through the OFS, and in the case of oversubscription, an additional 4% stake will be under sale. The offer for sale will take place on December 8 through a separate window on the stock exchanges. The floor price of the offer is fixed at Rs 154, which is nearly 10% discount to the last traded price. As of September-end, the government holds 73.18% stake in the company.

Sectorally, buying was seen in utilities, power, oil & gas, IT and capital goods while healthcare, telecom, banks, and realty sector saw some selling pressure. Stocks that were in focus include names like Adani Total Gas which rose by about 20%, Angel One which was up over 6% and Hindustan Aeronautics which closed with gains of over 6% on Wednesday. We have collated a list of three stocks that either hit a fresh 52-week high, or an all-time high or saw a volume or a price breakout. We spoke to an analyst on how one should look at these stocks the next trading day entirely from an educational point of view: Here’s what Kush Ghodasara, CMT (SEBI RA: INH000002137), has to say Adani Total Gas The stock has been trading in a tight range for a while but now it broke out from the consolidation with heavy volumes and has managed to close above 200-day average of 718. Now indicators are in an overbought zone and we could still buy the stock on dips for a target of Rs 1450 and a stop loss can be placed below Rs 720 on closing basis. Angel One The stock has been known to be on a dream run since the low it made in April, and it has posted 3 times returns in a short span. It has been taking continuous support near the 10-day average and indicators are still indicating some momentum.

mental health concerns mounted in 2023. Nearly half a dozen counsellors and experts ET spoke with said they are getting an alarmingly high anxiety- and depression-related complaints from the Gen Z — who witnessed a multi-fold increase in stress levels amid rising fears of job loss, inroads of artificial intelligence at work, a tightening economy and layoffs in certain sectors.

A new year tends to bring a wave of optimism, but when it comes to the markets and the economy this should not be overstated according to State Street Global Advisors.