Open Financial News

IPO is a completely fresh issue of shares worth Rs 500 crore and the entire proceeds will go to the lender. Incorporated in 2016, Utkarsh SFB commenced operations in 2017 and its product suite includes a range of deposit products, including saving accounts, salary accounts, current accounts, recurring and fixed deposits and locker facilities The bank recorded the third fastest gross loan portfolio growth between fiscal 2019 and 2023 among its peers with a loan portfolio of more than Rs 6,000 crore.

₹500 crore initial public offering (IPO) of the Varanasi-based Utkarsh Small Finance Bank will open for subscription on Wednesday, July 12 and end on Friday, July 14. On Tuesday, July 11, the anchor investors' auction will begin. On Wednesday, July 19, the allotment will take place and on Thursday, July 20, the shares will be credited to the allottees' demat accounts.

rupee depreciated by 28 paise to end at 82.51 against the American currency. Investors will now focus on the crucial US non-farm payrolls (NFP) data to be released later in the day.

₹2,641 crore, while Domestic Institutional Investors (DIIs) sold shares worth a net amount of ₹2,351 crore. Moving into July till date, FIIs continued to show interest in the Indian market by buying shares worth a net amount of ₹8,374.55 crore, while DIIs sold equities worth a net amount of ₹3,913.95 crore.Vinod Nair, Head of Research at Geojit Financial Services said, “Foreign investors continue to provide unwavering support to the domestic market, helping to sustain the ongoing rally despite weak global cues.

University of Delhi has announced the opening of registration process for admissions to its Bachelor of Technology (B.Tech) programmes for the academic session 2023-24. From this session DU is introducing three newly designed B.Tech courses. The three B.Tech programmes offered by DU are Computer Science and Engineering, Electronics and Communication Engineering, and Electrical Engineering.

The brand will open at Phoenix Marketcity, Kurla, Uniqlo and plans to open more stores outside North India. All it’s 10 store is in North India and the company is looking to set up a significant manufacturing presence in India through about 20 'production partners. “October will also mark the anniversary of our four-year journey in India, and this new milestone highlights our strong ongoing commitment to India. Until now, our customers in Mumbai have been using our e-commerce channel to shop for their LifeWear essentials, and we now look forward to welcoming them in person to our first Mumbai store,” said Tomohiko Sei, Chief Executive Officer, Uniqlo India. Uniqlo, Phoenix Marketcity Kurla, will be the 11th brick-and-mortar Uniqlo store in India. Uniqlo has more than 2,400 stores across the world.

rupee depreciated 20 paise to close at 82.23 against the US dollar on Wednesday Most Asian currencies were down 0.2% to 0.4%. The 2-year Treasury yield rose to 4.9630% in Asia, hovering near the highest since March, Reuters reported.

Haryana government gave its nod to the 24x7 operation of restaurants in the state, eateries in Gurugram are overjoyed hoping to cash in on late night cravings of residents and round-the-clock working MNC employees. Several restaurants of the city, an IT hub, said they can't wait to serve late night and early morning diners with piping hot food and chilled drinks, even though security remains the foremost concern of most restaurateurs.

The FSB’s recommendations call for greater clarity on the redemption terms that open-ended funds could offer to investors, based on the liquidity of their holdings.

The Dow Jones Industrial Average fell 73.75 points, or 0.21%, at the open to 34,344.72. The S&P 500 opened lower by 13.55 points, or 0.30%, at 4,442.04, while the Nasdaq Composite dropped 44.67 points, or 0.32%, to 13,772.10 at the opening bell.

IPO) of Kaka Industries will open for public subscription on July 7. The issue closes on July 11.

Moily on Wednesday urged Prime Minister Narendra Modi, the Law Commission and all political leaders not to open the «Pandora's box» on personal laws and «create chaos» in the society. He also alleged that it was an issue that was intended to divide the society, destabilise the country and demolish the diversity enjoyed in Indian society. In a statement, Moily underlined that Article 25 provides for the Right to Freedom of Religion.

1) Company OverviewDrone Destination is a DGCA-authorized Remote Pilot Training Organisation (RPTO) offering certified training programs. The company has three training bases of its own at Gurugram, Chandigarh, and Phulpur.2) Industry OverviewThe government is actively promoting the growth of this industry by introducing policies and initiatives to encourage innovation and entrepreneurship in this field.

Elon Musk spent the weekend further alienating Twitter users with more drastic changes to the social media giant, and he is facing a new challenge as tech nemesis Mark Zuckerberg prepares to launch a rival app this week. Zuckerberg's Meta group, which owns Facebook, has listed a new app in stores as «Threads, an Instagram app», available for pre-order in the United States, with a message saying it is «expected» this Thursday.

AccelerateBS India IPO Dates: The AccelerateBS India IPO will open on July 6 and close on July 11. The basis of allotment is likely to be fixed on July 14 and initiation of refunds will take place on July 17, while the shares are likely to be credited to the demat accounts of eligible allottees on July 18. Also Read: Kaka Industries IPO: Check key dates, price band, among 10 things to know Issue Price: The company is selling shares at a fixed price of ₹90 apiece in the IPO.

Mutual Fund on Tuesday launched an open-ended equity scheme, Bandhan Financial Services Fund. This new scheme offers investors the opportunity to benefit from the multi-year growth opportunities in the financial services sector.

Bank of India is the first public sector bank to launch the Mahila Samman Savings Certificate, 2023. According to a press release from Bank of India, it is the first bank to operationalise this scheme at all its branches. Mahila Samman Savings Certificate was previously only available through post offices. The Department of Economic Affairs, Ministry of Finance, through an e-gazette notification issued on June 27, 2023 permitted all Public Sector Banks and eligible Private Sector Banks to implement and operationalise the Mahila Samman Savings Certificate, 2023. This flagship program was introduced by Finance Minister Nirmala Sitharaman during the Budget speech for FY 2023–2024 on February 1, 2023.Mahila Samman Savings Certificate, 2023

thematic fund, sectoral fund, liquid fund, fixed maturity plan, an index fund, and overnight fund are open for subscription. After a dry spell for a short period, the NFO market is again showing some signs of revival. Should you invest in these NFOs to maximize the returns from your mutual fund portfolio? First, find out why mutual funds launch NFOs. Mutual fund houses typically launch new schemes because they want to complete their bouquet of offerings or to increase their assets under management. Sometimes, funds may have discovered an interesting theme or idea which they think may offer an opportunity to create wealth. An investor need not bother about fund houses completing their offerings or chasing AUMs. If it’s a unique idea, you should take a closer look.

Declaration of Independence on July 4, 1776, a document announcing the colonies' separation from Great Britain. One year later, according to the Library of Congress, a spontaneous celebration in Philadelphia marked the anniversary of American independence.

Congress Party (NCP) chief Sharad Pawar on Monday claimed that the BJP had engineered a split in the party but expressed confidence that the BJP and the rebels would be voted out of power by the people. Pawar has, however, kept the doors of reconciliation open by saying that the politics he practised there was no space for 'hate'. «State NCP chief Jayant Patil will look into the issue of disciplinary proceedings.

Publicis Groupe is open to acquisitions in India in areas like tech, data and commerce, a top executive told ET. The advertising behemoth has identified the digital technology business as the next growth area even though media and creative services still account for the majority of its revenue. The company's digital technology business includes marketing agency Digitas India, digital transformation agency Indigo Consulting, and ecommerce division Publicis Commerce.