Open Financial News

EPACK Durable IPO: The mainboard initial public offering (IPO) of air conditioner (AC) manufacturer EPACK Durable will open for subscription tomorrow, January 19, 2024. The company is the second largest room air conditioner (RAC) original design manufacturer (ODM) in India in terms of the number of units (indoor + outdoor) manufactured in fiscal 2023 through the ODM route, according to EPACK Durable's red herring prospectus (RHP).

MUMBAI: The 140.81-crore initial public offering (IPO) of Telangana-based Nova Agritech will open for subscription on January 22 at a price band of 39-41 apiece. The IPO will close on January 25.

Also Read: HDFC Bank share price cracks 7% after Q3 results; what should investors do? After a sharp rally in the markets with Nifty 50 scaling above 22,100 in the previous session, investors likely opted to take some profit out of the table, analysts said. Meanwhile, concerns over stretched valuations in the midcap and smallcap space also triggered selling. “Domestically, even though the economy is doing well and corporate earnings are good, all these positives are in the price and the valuations are elevated warranting a correction.

Naomi Osaka said Wednesday that crashing out of the Australian Open was «bittersweet» but vowed not to mope as she headed home in time to see new baby Shai crawl for the first time. The Japanese star, who has won four Grand Slams, including two in Melbourne, stepped away from tennis in September 2022, citing mental health concerns. After giving birth to a girl in July, she returned for the 2024 season only to hit a roadblock at the first hurdle in the opening Grand Slam of the year on Monday. «I remember last year I wished I had an opportunity to play again on Rod Laver Arena and this year that happened, so one of my dreams already came true,» she said on social media. «Currently, however, my entire being is so disappointed with my result, the standards I set myself are so incredibly high. »I try to remind myself that I was pregnant six months ago and I can't expect amazing results from the jump — that doesn't really do much to quell my thoughts though." The rusty 26-year-old former world number one was knocked out by French 16th seed Caroline Gracia, losing steam after going toe-to-toe at the start of the match. Despite her disappointment, Osaka said she was better able to deal with defeat now than earlier in her career. «Understanding the importance of time is a skill I improved on after having Shai — things that used to bother me don't bother me anymore, I don't have time for it,» she said. «In that same aspect I don't feel I have time to mope after losses anymore. The world moves on and I have to continue to walk forward.» Unlike some of the other mothers returning to the tennis circuit tour, such as Caroline Wozniacki and Angelique Kerber, Osaka opted not to travel with baby Shai.

Li Qiang said on Tuesday in Davos the Chinese economy was open for business and highlighted its potential for foreign investment as its vast population becomes rapidly more urban and its middle class is forecast to grow. As China grapples with a sluggish post-pandemic recovery and a real estate slump, overseas executives have grown concerned about its long-term growth prospects for the first time in the four decades since Beijing opened it up to foreign investment.

Australian Open champion Naomi Osaka's Grand Slam comeback ended abruptly Monday, crashing out to Caroline Garcia, but US Open winner Coco Gauff and men's third seed Daniil Medvedev surged on in Melbourne. On a baking-hot day at Melbourne Park, men's seventh seed Stefanos Tsitsipas and women's sixth seed Ons Jabeur also tasted first-round victory. But Wimbledon champion Marketa Vondrousova and veteran Andy Murray made early exits. Japanese star Osaka, 26, stepped away from the sport in September 2022, citing mental health concerns. After giving birth to a baby girl in July, she decided to return for the new season and was back at the scene of her title-winning exploits in 2019 and 2021. But she was unable to rediscover her championship-winning form against 16th-seeded Frenchwoman Garcia after just two competitive games in Brisbane since returning. «She's been through a lot but I'm just very glad to see her back and I hope she can enjoy the tennis now and have fun out there.

The 'Shree Mandir Parikrama,' also known as the Jagannath Heritage Corridor Project, at Odisha's Puri's Lord Jagannath temple is set to be inaugurated on January 17. This initiative, completed by the Odisha Bridge & Construction Corporation (OBCC) and handed over to the Sri Jagannath Temple Administration (SJTA), aims to enhance the visual appeal and surroundings of the iconic Jagannath Temple. Though no changes have been made in the temple, the area within the 75-metre corridor of the boundary wall of the Jagannath temple has been developed to enhance the infrastructural aspects around the temple. The inauguration comes just five days ahead of the Ram temple coronation

WhiteOak Capital Banking & Financial Services Fund, WhiteOak Capital Pharma and Healthcare Fund, SBI Nifty50 Equal Weight Index Fund, Old Bridge Focused Equity Fund, Groww Banking & Financial Services Fund, and Motilal Oswal Large Cap Fund will open for subscription later this week.

Angel One, Kesoram Industries, PCBL and several other companies will announce their third-quarter results today.The US dollar ebbed on Monday on renewed expectations of a rate cut by the Federal Reserve in March, while the yuan fell to a one-month low after China's central bank surprised markets by keeping its medium-term policy rate steady.The company clocked 13.5% sequential growth in profit at ₹4,350 crore in the December quarter, beating analysts' expectations. Revenue grew 6.7% sequentially to ₹28,446 crore (6% in constant-currency terms).The company reported revenue from IT services of ₹22,150.8 crore in the December quarter, down 1.09% from the previous quarter.

NEW DELHI : Open market sales have proven to be an effective tool for moderating rice and wheat prices, said union consumer affairs, food and public distribution minister Piyush Goyal, adding that the Food Corporation of India (FCI) should emerge as a trusted partner of farmers and the public. “The FCI’s market interventions or open market sale scheme (OMSS) has proved to be an effective tool in moderating the prices of essential commodities like wheat and rice to benefit consumers.

Medi Assist Healthcare IPO: The mainboard initial public offering (IPO) of insurance-tech company will be opening for subscription from tomorrow, January 15, 2024. The company is a third-party administration (TPA) services provider to insurance companies and offers offers medical insurance and cashless hospitalization through a network of healthcare service providers. The company also acts as a mediator between general and health insurance companies and their insured members, insurance companies and healthcare providers (such as hospitals), and the government and beneficiaries of public health schemes.

IPO) of Epack Durable will open for subscription on January 19 and will be available for the public to bid till January 23. The IPO comprises a fresh equity issue of up to Rs 400 crore and an offer for sale (OFS) of up to 10,437,047 shares by selling shareholders. Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, Ajay DD Singhania, Pinky Ajay Singhania, Preity Singhania, Nikhil Bothra, Nitin Bothra, and Rajjat Kumar Bothra are the promoter and group entities selling part of their stake in the company. Bajrang Bothra, Laxmi Pat Bothra, Sanjay Singhania, and Ajay DD Singhania, collectively hold 42.90% in the company. India Advantage Fund and Dynamic India Fund, the two funds managed by ICICI Ventures, will also sell stake in the company.

Novak Djokovic, the 10-time Australian Open champion, initiated his quest for a historic 25th Grand Slam title against Dino Prizmic, while Aryna Sabalenka defended her title against Ella Seidel. The opening ceremony witnessed tennis legends Andre Agassi and Evonne Goolagong Cawley honoring the event's 50th anniversary. Champions in Action The defending champions, Djokovic and Sabalenka, showcased their skills on the first day. Djokovic, on a remarkable 28-match winning streak at Melbourne Park, faced Croatia's Dino Prizmic, eyeing an unprecedented 11th Australian Open title.

Virat Kohli, the prominent Indian cricket team batter, shared insights into his unexpected friendship with Serbian tennis maestro Novak Djokovic. Kohli disclosed that their connection began with a casual «hello» message sent on Instagram, evolving into a unique bond marked by mutual admiration. The camaraderie hit a high point when Djokovic congratulated Kohli on achieving his 50th ODI century during the ICC Cricket World Cup semifinal against New Zealand last year. Djokovic's sincere message and public acknowledgment added a personal touch to their burgeoning friendship. «I got in touch with Novak very organically.

Novak Djokovic will bring his simmering rivalry with two young guns of the men's game to the Australian Open where his hunt for a record-extending 11th title and 25th Grand Slam crown overall carries an air of inevitability despite an early loss in 2024. The 36-year-old defied the odds to raise the Norman Brookes Challenge Cup last year as he overcame a ruptured hamstring and a distracting political row involving his father to win, before going past Rafa Nadal's tally of 22 majors at the French Open. He claimed a third Grand Slam trophy late last season at the U.S.

Infosys Q3 results: Revenue guidance to dip in profit — 6 key highlights from IT major's earnings The nervousness in the market was visible as the Nifty IT Index closed 0.28% lower on Thursday. TCS share price ended at ₹3,736.20 per share, up by 0.61% before the announcement of Q3 results, whereas, Infosys shares ended 1.62% lower at ₹1,495.00 apiece on the BSE. TCS posted a 2% year-on-year (YoY) growth in consolidated net profit, reaching ₹11,058 crore, while revenue saw a 4% increase, totaling ₹60,583 crore.

American TV personality Michael Strahan is diagnosed with a brain tumor. On Thursday on the Good Morning America show with host Robin Roberts., the father-daughter duo made the revelation about Isabella suffering from medulloblastoma. The 19-year-old has said that she did not notice anything strange till possibly October 1, when she started falling sick due to nausea, headaches, and could not even walk straight. Gradually she feared waking up as she used to vomit.

The Biden administration says 20 million people have enrolled for health insurance through the Affordable Care Act marketplaces, with still a few days left for signing up

M2M/IoT) registration to all entities across segments will enable standardisation of IoT services as everyone will follow a single standard that will address key issues around know your customer (KYC), security and encryption, say experts. Going forward, artificial intelligence (AI) will also play a crucial role in amplifying capabilities of M2M systems, including prediction of security breaches. Currently, the M2M/IoT industry is operating with several separate standards and with growing types of devices, interoperability is becoming an issue. The telcos, however, are still waiting for the government to define critical M2M/IoT services, which, they say should only be given through licensed spectrum. «With explosive growth from about 2-3 billion devices currently to 25 billion or so, interoperability will become a key issue. Hence, basic discipline and conformance to standards becomes very important and that would be achieved through this measure,» TV Ramachandran, Broadband India Forum (BIF) president, told ET. He added that the government's measures would boost investor confidence.

Bitwise Asset Management has unveiled plans to allocate 10% of the profits generated by its Bitwise Bitcoin ETF (BITB) to support Bitcoin open-source development.

Demat account would be like carrying around gold coins in a paper bag – inconvenient and prone to risk. With a Demat account, you enjoy: Convenience: Buy, sell, and hold shares electronically from the comfort of your home. Safety: Your investments are securely stored and insured against theft or loss.