Orienteering Financial News

IPO) of Orient Technologies has opened for subscription today. Ahead of the issue opening, the company raised Rs 64 crore from anchor investors. The issue, which closes on August 23, includes a fresh equity sale of Rs 120 crore and an offer for sale (OFS) of 46 lakh shares. Under the OFS, promoters Ajay Baliram Sawant, Umesh Navnital Shah, Ujwal Arvind Mhatre and Jayes Manharlal will be offloading their part stakes.

IPO) of Orient Technologies will open for subscription on Wednesday. Ahead of the issue opening, the company's shares are commanding a healthy GMP of Rs 55. The company has priced the IPO in the range of Rs 195-206 apiece, and if we consider the upper price band, the shares are trading with a premium of 27% to the issue price.

It’s a sign of the uncertainty looming over the global economy that economists are altering expectations so frequently. Take Goldman Sachs, which has just scaled back the odds of a US recession to 20% from 25% forecast a fortnight or so ago.

Issue price: Rs 195-206

Railway sector companies reported an average decline of nearly 16% in their net profits on quarter-on-quarter basis over the three-month period ended June 30, 2024, while the revenue witnessed a 24% average sequential plunge in the said quarter. An ETMarkets analysis further revealed that the stocks have derailed somewhat in the last one month, falling by up to 32% from their 52-week peak after running on a fast track for more than a year. We analysed results of 13 companies in the railway sector which include BEML, Indian Railway Catering and Tourism Corporation (IRCTC), Container Corporation of India, Indian Railway Finance Corporation (IRFC), Ircon International, Jupiter Wagons, Oriental Rail Infrastructure, Rail Vikas Nigam Limited (RVNL), RailTel Corporation of India, Ramkrishna Forgings, RITES, Texmaco Rail & Engineering and Titagarh Rail Systems.

Orient Technologies has announced a price band of Rs 195-206 for its IPO, which will open for subscription on August 21 and close on August 23. The company plans to raise Rs 215 crore through the IPO, which includes a fresh equity sale of Rs 120 crore and an offer for sale (OFS) of 46 lakh shares.

Inox Wind Energy Ltd.(up 10.00%), Inox Wind Ltd.(up 7.55%), Indo Tech Transformers Ltd.(up 5.00%), Adani Energy Solutions Ltd.(up 2.58%), GE T&D India Ltd.(up 2.28%), Karma Energy Ltd.(up 2.02%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Suzlon Energy Ltd.(up 1.55%), Adani Green Energy Ltd.(up 1.38%) and PTC India Ltd.(up 1.21%) were among the top gainers.

Vodafone Idea, Hindustan Aeronautics (HAL), Mazagon Dock, Hero MotoCorp, IRFC, IRCTC, HUDCO, Apollo Hospitals, Samvardhana Motherson, GMR Airports Infrastructure, Nykaa, and Ola Electric will be releasing their June quarter report cards this week. Here’s the list:

20 Microns Ltd.(up 11.68%), The Orissa Minerals Development Company Ltd.(up 10.00%), Madhav Marbles & Granites Ltd.(up 8.91%), Coal India Ltd.(up 6.39%), Pokarna Ltd.(up 4.66%), KIOCL Ltd.(up 3.48%), MOIL Ltd.(up 2.67%), NMDC Ltd.(up 2.62%), Gujarat Mineral Development Corporation Ltd.(up 2.33%) and Sandur Manganese & Iron Ores Ltd.(up 2.30%) stood among the top gainers.

The Small Business Administration is looking to attract lenders to finance small businesses' clean energy projects

«Real estate as a sector is looking attractive to us. The only challenge is that the valuations have gone up. So, one needs to be very selective in real estate, but any kind of a price correction should be a good opportunity to buy,» says Pankaj Pandey, Head Research, ICICIdirect.com. How have you read into the standalone quarterly numbers for PB Fintech, which has been pretty strong and completely different aside of that is Cummins as well, where the profits grew about 33%? Pankaj Pandey: So, do not cover both the stocks, but if I have to talk on, say, for example, Shree Cement, the numbers are definitely below expectation. While we might see volume growth going forward because they are expanding their capacities by 15 million tonnes. But cement is seeing a lower realisation, largely more in southern markets. But in general, you see a softness in the prices and probably that is going to be there for another quarter.

Orient Green Power Company Ltd.(up 4.96%), Neueon Towers Ltd.(up 4.77%), Transformers & Rectifiers(India)Ltd.(up 2.92%), Indowind Energy Ltd.(up 2.88%), CESC Ltd.(up 2.32%), PTC India Ltd.(up 2.04%), Karma Energy Ltd.(up 2.03%), Power and Instrumentation(Gujarat)Ltd.(up 2.00%), Gujarat Industries Power Company Ltd.(up 1.97%) and Torrent Power Ltd.(up 1.95%) were among the top gainers.

Smaller and mid-sized registered investment advisor firms are the focus for two new technology offerings from Fidelity Investments.

Pokarna Ltd.(up 5.93%) stood among the top gainers.

chatbots were tested for their political inclination, most of them revealed a left-of-centre stance, a study has revealed. However, when the chatbots, including ChatGPT and Gemini, were tested after being «taught» a certain political inclination — left, right or centre — they produced responses in alignment with their «training,» or «fine tuning,» David Rozado, a researcher from Otago Polytechnic, New Zealand, found. This shows that chatbots can be «steered» towards desired locations on the political spectrum, using modest amounts of politically aligned data, the author said in the study published in the journal PLoS ONE. Chatbots are AI-based large language models (LLMs), which are trained on massive amounts of textual data and are, therefore, capable of responding to requests framed in the natural language (prompts).

20 Microns Ltd.(up 8.57%), Pokarna Ltd.(up 7.88%) and Ashapura Minechem Ltd.(up 1.02%) stood among the top gainers.

options trading, markets regulator Sebi’s whole-time member Ananth Narayan on Friday pointed out how some traders are treating expiry day trading as playing in a casino for a jackpot. “Trading in index options, specifically close to expiry, then starts to resemble a slot machine in a casino with individuals putting coins into the machine hoping to hit the jackpot. It would be unfair to compare all of equity F&O with a casino and lose sight of its utility in capital formation. That’s not what we are saying. We are talking only about the specific portions of trading closer to expiry,” Narayan said at a FICCI event.

Equity mutual funds have offered up to 11% return in July. There were around 615 equity and equity-oriented mutual funds in the market in the said period. The toppers in the list were sectoral/thematic funds and only one scheme offered a double-digit return in July.

JSW Cement has begun evaluating acquisition of the promoter stake in Orient Cement Ltd (OCL) from CK Birla, said people aware of the development, amid a consolidation wave in the sector that’s seen the Aditya Birla and Adani groups race to pick up assets across the country.

Madhav Marbles & Granites Ltd.(up 3.42%), Sandur Manganese & Iron Ores Ltd.(up 1.69%), Coal India Ltd.(up 1.41%), Gujarat Mineral Development Corporation Ltd.(up 0.94%), Ashapura Minechem Ltd.(up 0.56%) and Pokarna Ltd.(up 0.49%) stood among the top gainers.

long term capital gains tax on listed equities in 2022-23, a 15 per cent growth over the previous year, Parliament was informed on Tuesday. Minister of State for Finance Pankaj Chaudhary gave details of collections from Long Term Capital Gains (LTCG) tax between fiscal 2018-19 and 2022-23 in the Rajya Sabha.