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The retail portion received consolidated bids of 2,396,000 share bids, while the non-institutional investors (NIIs) received 328,000 bids. The qualified institutional buyers (QIBs) were yet to open the account around 1 pm for this SME IPO issue.

additional installment of tax Devolution to States on Friday up and above the regular 14 installments released to the states on the basis of recommendation by the Finance Commission.. This is in addition to tax devolution due to States on 10 January 2024 and the installment of Rs 72,961.21 crore already released on 11 December 2023, the finance ministry specified in a statement released Friday. It added that the additional fund is released to the states in view of the forthcoming festivities and the New Year. «In view of the forthcoming festivities and the New Year, the Union Government has authorised the release of an additional installment of tax devolution amounting to ₹72,961.21 crore to strengthen the hands of State Governments for financing various social welfare measures and infrastructure development schemes,» Finance Ministry said. Generally the centre releases funds under tax devolution to states on 10th of each month.

Mileen Vasudeo, Senior Technical Research Analyst, Arihant Capital Markets, says “one recommendation is from the pharma pack itself. It is a buy on AstraZeneca, which is currently trading at Rs 1,570; strong consolidation breakout with huge volumes. Now if you keep a stop loss of Rs 1,450, on the higher side, we expect the stock to test Rs 1,810-1.920 levels. The second stock is Craftman Limited, currently trading at somewhere around Rs 5,480 or 5,490. Keep a stop loss of Rs 5,350 on the higher side as it can test the levels of Rs 5,790 and 6,000 in a couple of weeks’ time.” How does the trade look like on the Nifty and Bank Nifty after flushing out a lot of stop losses day before, people coming back yesterday? Mileen Vasudeo: The day before yesterday, we had a good fall in Nifty which flushed out many people over here. But then again if you see there was a strong support at lower levels and again we have bounced back. So our view is that unless and until the index that is Nifty does not breach 20,850 which was last week’s low, there is a fair chance Nifty is likely to head higher to test the levels of 21,500 to 21,800 levels.

Multibagger penny stocks: Indian stock indices have given stellar returns in the 2023. However, this could possible because of the participatory rally witnessed across segment. Among key benchmark indices, Nifty 50 index surged to the tune of 17.15 per cent in YTD.

Indian Hotels Company , EIH , Lemon Tree Hotels while have risen to 40.5% during 2023 till date while Chalet Hotels has seen its stocks price almost grow two times. Indian Hotels and Chalets Hotels are trading near 52 week highs scaled during December.

Adani Wilmar, one of the largest edible oil and food processing capacities in India, rallied 5.2% to ₹369.70 apiece in today's trade. The positive momentum stemmed from reports that India will allow the import of edible oils at lower import tax rates until March 2025. "The lower import duty structure on crude palm oil, crude sunflower oil, and crude soy oil was originally set to expire in March 2024.

ICICI Prudential Life Insurance Company Ltd. fell 0.5 per cent to Rs 516.0 in Friday's trade as of 01:09PM (IST) even as the benchmark Nifty ruled at 21354.0, up 98.95 points. The scrip had closed at Rs 518.6 in the previous session.

Like most key financial goals such as buying a house, marriage and children’s education, one occurrence that is more than certain is the end of life. It is undoubtedly a grim reality but nothing short of a gospel truth. Some investors tend to defer their plan to write a will to a later stage. 

Zomato share prices gained more than 1% as the company denied on any plans to acquire B2B logistics start up Shiprocket. Zomato has remained in spotlight in past few days with news flow pertaining to acquisition of B2B logistics start-up Shiprocket. In the release to the exchanges Zomato said that- There are articles circulating with subject “Zomato offers to acquire Shiprocket for $2 billion".

Piramal Enterprises and Piramal Capital & Housing Finance in AIF units was ₹3,817 crore. In a regulatory filing, Piramal Enterprises said ₹653 crore of this pertains to funds that have no exposure to any debtor companies of Piramal Enterprises.

rupee settled at 83.28 against the dollar. However, outflow of foreign funds and increased volatility in crude oil prices triggered by geopolitical situation put pressure on the Indian currency, forex traders said. “Dollar is moving south as fresh economic data from US signaled that economy is feeling the heat of aggressive rate hikes, which may prompt US Fed to start cutting rates in early 2024.

Stock split 2023: The board of directors of Tiger Logistics (India) Ltd has received proposal for stock sub-division. The company board will discuss and approve stock split proposal in its upcoming board meeting scheduled on 9th January 2024.

₹820.05 in morning trade on BSE on Friday, December 22, a day after the company said the government had granted a one-time exemption to it to achieve minimum public shareholding of 25 per cent. LIC share price opened at ₹805.05 against the previous close of ₹764.55 and soon jumped 7.3 per cent to hit its 52-week high.

SBI Long Term Equity Fund offered the highest return of around 33.99% in 2023. Motilal Oswal ELSS Tax Saver Fund offered 32.76%. ITI ELSS Tax Saver Fund gave around 31.54%. Bank of India Tax Advantage Fund gave 30.49% in 2023.

Azad Engineering IPO: The initial public offering (IPO) of Azad Engineering Limited opened for subscription on 20th December 2023 and it will remain open for bidding till 22nd December 2023. This means Azad Engineering IPO will close today evening and investors have just one day in their hand to apply for the public issue. The aerospace components and turbines maker company has fixed Azad Engineering IPO price at ₹499 to ₹524 per equity share.

Ashok Leyland, Balrampur Chini, Delta Corp, The India Cements, Hindustan Copper, Manappuram Finance, RBL Bank and Steel Authority of India (SAIL). The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban. MWPL for Ashok Leyland stood at 88.1% on Thursday with OI reported by Trendlyne at 78.1 million. It was down by 5.6% from the previous session. MWPL for Balrampur Chini stood at 95.7% on Thursday with OI reported by Trendlyne at 9.6.

At a time when major economies globally are facing growth headwinds, India is in a sweet spot, and foreign investors are looking to India for their growth portfolios, says Rajesh Bhatia, chief investment officer at ITI Mutual Fund. The key industries beckoning foreign investors in India in 2024 include healthcare and insurance, fintech, renewable energy, automobiles, real estate and infrastructure, among many others, Bhatia said in an interview with ETMarkets. “These have all been on a hot streak in 2023, as foreign direct investment (FDI) policies have relaxed in recent years, and production-linked incentive (PLI) schemes have promoted industry-wise capacity building,” he said. Edited excerpts: How has the year 2023 largely been for the funds managed by you? If we look at the financial year, then FY23 was a flat year for the indices. However, it was also a “stock-pickers” market, meaning analysts who could diligently assess the prospects of individual companies and businesses, did better.

Investors in Adani stocks, who were used to making astonishing returns by betting on Gautam Adani's business acumen, were in for a rude shock in 2023 when the combined market capitalisation of the conglomerate fell by around Rs 6 lakh crore because of the Hindenburg controversy. At the end of 2022, the total market value of all 10 listed Adani companies was Rs 19.6 lakh crore which has now fallen down to Rs 13.6 lakh crore. While many Adani stocks have managed to recoup a part of their Hindenburg-led losses, Adani Total Gas remains 74% down on a year-to-date (YTD) basis. The stock, which had gone close enough to nearly touch the Rs 4,000-mark is now struggling to inch above the Rs 1,000 mark. Shares of Adani Energy Solutions are also down 61% YTD.