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Jyoti CNC Automation has received a nod from the Securities and Exchange Board of India (Sebi) to launch its initial public offer (IPO). The company’s initial public offering comprises a fresh issue of Rs 1,000 crore. The company had filed its Draft Red Herring Prospectus (DRHP) with the market regulator in September 2023. The company proposes to utilise the net proceeds towards repayment and/or pre-payment of some of its loans in full or part, a company release said on Wednesday. The company had availed funding for long-term working capital requirements and general corporate purposes. Jyoti CNC Automation claims to be the second-largest CNC machine manufacturer in India accounting for approximately 8% of the market share in fiscal 2022.

₹1,008.59 crore from the IPO that will end on December 21. Let us check Happy Forgings IPO subscription status, GMP today and other key details: Happy Forgings IPO was subscribed 4.63 times on December 20, the second day of the bidding process. The public issue received bids for 3.87 crore equity shares as against 83.65 lakh shares on the offer, as per data available on NSE till 1:00 pm.

₹499 to ₹524 per equity share of the face value of ₹2. Azad Engineering IPO lot size is 28 equity shares and in multiples of 28 equity shares thereafter.

IT stocks in the last few days following the Fed's dovish tilt could turn out to be premature, say analysts after going through the earnings of Accenture. The key peer of Indian IT services companies reported Q1 revenue growth in line with its guidance range, but Managed Services growth moderated to a 14-quarter low. Accenture reiterated its headline FY24 revenue growth guidance of 2-5% YoYcc but increased the inorganic contribution to more than 2% vs 2% earlier, which implies that FY24 organic growth guidance has been trimmed slightly. Management indicated no change in the demand environment – persistent weakness in BFS, CMT, and discretionary spends. A likely weak discretionary demand environment is been seen as negative for Infosys, while incremental weakness in the UK could have negative implications for TCS.

₹1,400 per share, 77.2% higher than the issue price of ₹790. DOMS Industries IPO date of subscription was scheduled for Wednesday, December 13, and closed on Friday, December 15.

BSE, DOMS Industries share price today was listed at ₹1,400 per share, 77.2% higher than the issue price of ₹790. DOMS share price extended gains following its listing. Currently, at 10:48 IST, DOMS Industries share price has slightly slipped into the red zone.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) “Pull back attempts were capped near 83.19, a pivot that had remained potent for most of this month. Upswings now stand to challenge 83.27 and it would require a slippage past 83.09 to initiate declines again," said Anand James, Chief Market Strategist at Geojit Financial Services.

Azad Engineering IPO raised ₹221 crore from 20 anchor investors at the upper price band of ₹524 per equity share. Azad Engineering IPO price band has been fixed in the range of ₹499 to ₹524 per equity share of the face value of ₹2.

Varun Beverages share price rallied over 17% to hit a fresh 52-week high on Wednesday after the company announced the acquisition of South Africa’s Bevco, which analysts believe to be a good value creation opportunity. Varun Beverages shares jumped as much as 17.78% to a 52-week high of ₹1,380.45 apiece on the BSE. One of the largest franchise bottlers of PepsiCo in the world, Varun Beverages announced that its board of directors approved the acquisition of 100% stake in South Africa’s The Beverage Company Ltd (BevCo) with plans to expand its geographical footprint in Africa.

Balrampur Chini, Delta Corp, Indus Towers, IRCTC, Manappuram Finance, National Aluminium Company (NALCO), Piramal Enterprises (PEL), RBL Bank, Zee Entertainment Enterprises (ZEEL) 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 on it is reversed only if the open interest falls below 80%. Traders who trade in indices do not encounter a situation of security ban.

BSE and NSE. Inox India IPO registrar is Kfin Technologies Ltd. Investors can find out how many shares they have been given through the basis of allotment in the IPO allotment status.

global market cues. The Asian markets traded higher while the US stocks ended with gains overnight amid upbeat sentiment over easing monetary policy by the central bank going ahead. Catch Live Market Updates here However, a spike in crude oil prices on concerns over disruption in the Red Sea would weigh on investor sentiment.

₹1,008.59 crore from the IPO that comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares. Happy Forgings IPO price band has been set at ₹808 to ₹850 per share. Happy Forgings is a manufacturer of heavy forgings and high-precision machined components.

₹740 crore from the public issue that will conclude on December 22. Headquartered in Hyderabad, Telangana, Azad Engineering supplies its products to original equipment manufacturers (OEMs) in the aerospace, defense, energy, and oil and gas industries. Its products are highly engineered, complex, mission-critical, and vital.

Coinbase Wallet, a prominent player in the cryptocurrency exchange sector, has rolled out a game-changing update that simplifies and accelerates international money transfers. This new feature, part of Coinbase’s strategy to make cryptocurrency transactions more accessible, allows users to send money via links shared through various messaging and social media apps​​​​.

Mint, Thampy Koshy, managing director and chief executive of ONDC, said that the onboarding of new users is being scaled up at a rapid pace on the ONDC protocol. “In January, we announced public availability of ONDC in Bengaluru. At that time, we had just around 1,000-1,200 transactions per month.

NEW DELHI : Meta, the parent firm of Facebook, Instagram and WhatsApp, is piloting new generative artificial intelligence (AI) products, including a creator suite that was announced globally on 4 October. Sandhya Devanathan, vice-president and country head of Meta India, said in an interview that the pilot is also active in India now, albeit as a “large pilot" made available to select creators right now.

IT stocks HCL Technologies and Persistent Systems have received a downgrade by Kotak Institutional Equities as the brokerage sees limited upside in the two stocks going ahead. Kotak cut the rating on HCL Technologies to an 'Add' from an earlier 'Buy' and also downgraded Persistent to 'Reduce' from an 'Add'. On Persistent, Kotak said that the stock is currently trading at 33X FY2026E EPS and is expensive after a 22% rally in the past three months. «Rollover to December quarter and 2X increase in multiple factoring in lower macro uncertainty following rate cut path laid out by US Fed lead to 9-16% increase in FVs for IT stocks,» Kotak said in a note Following the downgrade, HCL Tech shares fell 1.7% intraday while Persistent was down by 2% around 12 pm.

₹1,008.59 crore from the IPO that will end on December 21. Let us check Happy Forgings IPO subscription status, GMP today and other key details: The ₹1,008.59 crore worth Happy Forgings IPO opened for subscription on December 19 and will close on December 21. The IPO comprises a fresh issue of equity shares worth ₹400 crore and an offer for sale (OFS) of 71.59 lakh shares.

BSE SME with a tentative listing date fixed on December 27. Also Read: India Shelter IPO allotment declared: Latest GMP, how to check status online. Share listing expected tomorrow The company plans to raise ₹31.25 crore from the IPO which is a combination of fresh issue of 26.88 lakh equity shares aggregating to ₹18.82 crore and an offer for sale (OFS) of 17.76 lakh shares aggregating to ₹12.43 crore.

SBI, Bank of Baroda, Indian Bank, Union Bank, Canara Bank, and PNB. «A reflection on PSBs valuation history may cause trading multiples to look constrained, however the quality of earnings, growth outlook and broader re-rating in PSU entities will nevertheless enable steady performance of the sector,» Motilal analysts including Nitin Aggarwal said. Stating that PSBs are likely to report a 10% CAGR in deposits over FY23-26, Motilal said most PSU banks are well positioned in terms of liquidity, with their LCR well above the regulatory requirement of 100% (135-160%), indicating their resiliency and the competitive advantage they have over their private peers, especially in the current rate environment. The analysts noted that overall, PSBs have been able to maintain better margins as a significant proportion of their loans are linked to MCLR (6-12 months’ tenure), which has led to lagged re-pricing of advances portfolio. Stock ideas Motilal's top picks among the PSU bank basket are SBI, BoB, and Canara Bank. For SBI, it has raised the target price from Rs 700 to Rs 800, BoB from Rs 240 to Rs 280, Indian Bank from Rs 460 to Rs 525, Union Bank from Rs 130 to Rs 150, and Canara Bank from Rs 440 to Rs 550. While the brokerage has buy ratings on the above 5 stocks, it has a neutral rating on PNB but the price target has been increased from Rs 75 to Rs 90. In the last 5 months, the Nifty PSU Bank index is up over 40% with Central Bank, IOB, PNB, and Union Bank rallying between 7-90%. (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)