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Subscribe to enjoy similar stories. Arati Mazumdar has just received her first salary. She breathlessly enters the ladies room — the sole bastion of uninterrupted womanhood in the office of a company making products for housewives — and takes the money out of the envelope bearing her name, holding the crisp banknotes in the manner of a rummy-player fanning a winning hand.

Waaree Energies, a leading manufacturer of solar photovoltaic (PV) modules in India, is set to launch its initial public offering (IPO) in October. The company received final regulatory approval from the Securities and Exchange Board of India (Sebi) on September 20, 2024, allowing it to proceed with its ambitious fundraising plans.

Aditya Birla Renewables Ltd (ABReL) has raised Rs 2,500 crore from markets through allotment of non-convertible debentures on a private placement basis. ABReL is a subsidiary of Aditya Birla group firm Grasim. The company allotted 2,50,000 unsecured, listed, rated, redeemable NCDs of face value of Rs 1 lakh each on September 24, 2024, Grasim Industries said in a filing.

«Today, you just present a good story, people are willing to buy. And some of the recent IPOs are doubling just the day after listing are adding to this frenzy. But it is the institutional segment, the merchant bankers who need to be disciplined, who need to not use everything as a revenue earning opportunity,» says Sunil Subramaniam, Market Expert. Am I right in saying when I say that right now merchant bankers who are taking some of the SME IPOs public, they are not doing their fiduciary duty. They are like the SEBI, whole-time director Mr Bhatia said that they are prescribing steroids when paracetamol can do the work? Sunil Subramaniam: I think absolutely because if you look at it, the situation is that you have a gullible investing public. You look at the stories around the F&O story, the margin trading story, the Demat account, people just buying stocks. So, there is what is called in Hindi, the hawa. So, in this place, all it needs is a good story for people to buy it. And it has gone to such an extent that I got a WhatsApp forward saying, somebody has got 10 tickets to the Coldplay concert and wants to launch an IPO. Fin influencers are also a part of this.

Shriram Finance has raised $500 million by selling a three-and-a-half-year fixed rate dollar bond at 6.15% to investors across the globe. Strong investor demand helped the company price the bond much lower than initial guidance of 6.50%. «We saw demand of more than $1.5 billion which helped squeeze the pricing at the lower end of the band ultimately. Shriram is a known name in the overseas market so it is possible that they will look at another issue soon,» said a person familiar with the transaction.

Varun Beverages Ltd. traded at Rs 635.5 on BSE at 12:53PM (IST) on Wednesday, down 1.77 per cent from previous close. The stock quoted a 52-week low price of Rs 331.28 and a high of Rs 682.84.

KRN Heat Exchanger which opened for subscription earlier today, sailed through on the first day of the bidding process. The issue has been subscribed 7.5 times so far, driven by strong demand from the non-institutional investors. As of noon, the issue was subscribed by 14.75 times by the NIIs while the retail category had subscribed the issue by 8.8 times. Meanwhile, the qualified institutional buyers (QIBs) attracted bids of 34,710 shares against the 31,07,455 reserved for them.

Canara Bank slipped 1.55 per cent to Rs 107.6 in Wednesday's trade as of 12:57PM (IST). It hit a high of Rs 109.35 and low of Rs 107.3 during the session. The stock quoted a 52-week high price of Rs 129.35 and a low of Rs 68.44. The return on equity for the stock stood at 18.4 per cent. About 635,148 shares have changed hands on the counter so far.

Arslan Butt is an experienced webinar speaker, market analyst, and content writer specializing in crypto, forex, and commodities. He provides expert insights, trading strategies, and in-depth analysis...

Shares in Asia pushed higher on Wednesday, again led by gains in China, after U.S. stocks climbed to more records in a quiet day of trading

PC Jewellers today surged 4% to its new all-time high of Rs 157.30 on BSE after the company on Tuesday announced that it will consider and approve a stock split in its upcoming board meeting scheduled on September 30. “A meeting of the Board of Directors of the Company will be held on Monday, September 30, 2024, inter-alia, to consider and approve the alteration in the share capital of the Company by sub-division / split of existing equity shares having face value of Rs.10/- each, fully paid-up, as may be determined by the Board of Directors and consequent alteration of Memorandum of Association of the Company,” said the company in a filing to the exchanges.

<a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. traded 1.26 per cent up in Wednesday's trade at 10:35AM (IST). Around 1,907 shares changed hands on the counter. The scrip opened at Rs 5370.25 and touched an intraday high and low of Rs 5449.6 and Rs 5354.1, respectively, in the session so far. The stock of <a rel=«dofollow» href=«https://economictimes.indiatimes.com/divi» s-laboratories-ltd. data-ga-onclick=«Inarticle articleshow link click#Markets#href» target="_blank">Divi's Laboratories Ltd. quoted a 52-week high of Rs 5582.85 and a 52-week low of Rs 3300.0.

India Power Corporation Ltd.(up 9.08%), Reliance Power Ltd.(up 5.00%), Ravindra Energy Ltd.(up 5.00%), Indo Tech Transformers Ltd.(up 5.00%), KPI Green Energy Ltd.(up 4.30%), Power Grid Corporation of India Ltd.(up 4.22%), Hitachi Energy India Ltd.(up 2.87%), KEC International Ltd.(up 2.05%), Gujarat Industries Power Company Ltd.(up 1.64%) and CESC Ltd.(up 1.59%) were among the top gainers.

Lupin Ltd. gained 0.37 per cent to Rs 2222.5 in Wednesday's trade as of 10:29AM (IST). The stock hit a high price of Rs 2229.0 and low of Rs 2213.75 during the session.

«So, assuming 70% market share for IEX, which is currently at 84%, I think EPS downgrade could be 20% based on FY27 estimates. And assuming 60% kind of market share for IEX, then EPS downgrade could be around 30% for FY27,» says Rupesh D Sankhe, Elara Capital. The market coupling, that is surely going to challenge IEX's market dominance. I mean, it currently holds about that 84% lion's share of the power trading business. Back of the envelope calculations, what is the kind of dent that IEX is likely to see if and when this is going to be put in place? Rupesh D Sankhe: See, definitely, the market coupling is negative for IEX because as of now, there are two key products which are there, like Day Ahead Market and RTA where IEX is enjoying close to 97% market share. This product is not still available with a new exchange like HPX. The product which is there like a Term Ahead Market where market share of IEX is 60%. So, we can expect once market coupling gets implemented, this product will get launched, DAM and RTA and definitely the market share could come down to 60-70% also.

20 Microns Ltd.(up 3.40%), The Orissa Minerals Development Company Ltd.(up 2.30%), Lexus Granito(India)Ltd.(up 2.26%), NMDC Ltd.(up 2.00%), MOIL Ltd.(up 1.63%), Madhav Marbles & Granites Ltd.(up 0.95%), KIOCL Ltd.(up 0.30%), Gujarat Mineral Development Corporation Ltd.(up 0.29%), Ashapura Minechem Ltd.(up 0.25%) and Sandur Manganese & Iron Ores Ltd.(up 0.10%) were among the top gainers.

FLOCKERZ, a newly launched decentralized project, is redefining the meme coin sector with its Vote-to-Earn mechanism. The project has gained attention during its presale phase, raising over $260,000.

The Aussie peaked at $0.6907 in the early Asian session, its highest since February 2023, while the kiwi rose to a nine-month top of $0.6353, with both currencies extending their rallies from the previous session.

«It is important to preserve what we have made. Last two-three years the returns have been very-very good. So, maybe a little more prudent and balanced approach will ensure that we preserve these returns,» says Gurmeet Chadha, Complete Circle Consultants. Not pure play commodities, but commodity stocks definitely, and in particular metals after China talking about a slew of measures and a fair amount of rate cuts as well coming in in the remainder part of the year too, that sort of instilled a sentimental move on metals. But would you look at it from an investment point of view? Gurmeet Chadha: We got to be more tactical when it comes to metals and commodities. They have announced a host of measures which clearly tells you that now they have to resort to more stimulus to revive the economy. And also, traditionally, if you see a weak dollar in the rate cuts, I am not saying weak in like absolute sense, but a relatively weaker dollar is always positive for commodities.

Rajat Sharma, Founder & CEO, Sana Securities, says stick to largecaps, stick to stocks where you still see value, be prepared to take a 10-15% dip because even if it happens, it is going to bounce back really sharply. Further, Sharma says he likes FMCG stocks like ITC, Britannia, and Dabur where he sees a lot of value. Earlier, he used to find private banks really expensive. But right now, he thinks Axis Bank and HDFC Bank make a very compelling case to buy. What are you making of the market right now, given the global construct – not just the Fed rate cut, but the measures from China as well earlier this morning and now our stint with Peak 26,000 and then straight away an 80-point fall from there? Rajat Sharma: Compared to the way markets have gone up, 80-100 points move is just a blip. These days when I talk to clients and when I invest money, I tell them upfront that 10% to 15% correction from here should not bother you and if it does, then wait before you get into the markets because since April, the markets have run up quite aggressively. We were trading at a multiple of around 22 that time, now we are trading at a trailing multiple of 24 and this is after four years back, we changed how we calculate the price earnings from standalone to consolidated.

Oil prices steadied on Wednesday after rising in the previous session on fading excitement for the economic stimulus in China, the world's biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market. Brent crude futures gained 3 cents at $75.20 a barrel by 0004 GMT. U.S. West Texas Intermediate crude lost 2 cents at $71.58 per barrel.