The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
'Sell in May, go away' is a popular market adage. But 'Don't sell any new shares in May' is the best kept secret of Dalal Street that's set to break. Sample this: the last four General Election election cycles starting 2004 have not seen a single initial public offering (IPO) launch during the month of May.
The markets will also keenly eye the HSBC manufacturing and services data.
It was the worst Budget day today for Dalal Street with the Bombay Stock Exchange index Sensex plunging over 850 points - the biggest fall on any Budget day - on concerns of widening fiscal deficit.
LIC, ICICI Prudential invest Rs 13,000 crore (Rs 130 billion) and Rs 2,000 crore (Rs 20 billion) respectively in the first quarter of FY09.
Rahul Dalal remained unbeaten on 64 as Haryana ended Day One on 221 for five against Baroda in a Ranji Trophy Group B match in Rohtak on Saturday.
Five MLAs -- four from the BJP and one independent -- were also sworn in as ministers. However, former home minister and six-term MLA from Ambala Cantt, Anil Vij, has not found a place in the new cabinet.
AAP leader and party's Surat Lok Sabha president Rajnikant Vaghani demanded that either Kumbhani be booked on the charges of forgery or his proposers be booked for giving false declaration on oath.
From the Sensex pack, Power Grid, Infosys, Asian Paints, Mahindra & Mahindra, HCL Technologies, IndusInd Bank, Tech Mahindra, Bajaj Finance, Wipro, Tata Consultancy Services, HDFC Bank and Titan were the major gainers. Tata Steel and Bharti Airtel were the laggards.
While Anushka Sharma and Virat Kohli welcomed their second child in February, Namrata Thakker looks at the other celebs getting ready to embrace parenthood for the first time.
Leading stockbroker Hiten Dalal and three others were on Friday convicted by a special court in Mumbai and sentenced to seven years of rigorous imprisonment for bungling in the Canbank mutual funds.\n\n\n\n
The foreign institutional investors party continues on Dalal Street unabated, with net investment by FIIs in stock markets surging past the $50-billion milestone for the first time in the country's history.
Saini, who is an MP from Kurukshetra, was unanimously elected as the leader of the state BJP legislature group and will be sworn in later in the day, party MLAs Subhash Sudha and J P Dalal told reporters.
The analysis is based on the free-float market capitalisation.
The annual day function at Dhirubhai Ambani International School in Mumbai turned out to be a star-studded event, as film folk stepped out to applaud the superstars in their own homes.
'It is advisable to stay away from the markets for now and buy only on a dip.'
Dalal Street witnessed its best-ever post-election rally in history on Monday with the benchmark index jumping over 2,110 points or 17 per cent on the first trading day after the announcement of the Lok Sabha election results.
The indefinite stir against corporate greed and the failure of the capitalist model of development is being spearheaded by Communist Party of India and its students wing All-India Youth Federation in Mumbai, a CPI spokesperson said.
The actor looked like a sweet winter treat in a pista coloured sari with lace borders.
Even as Srini Pallia, a Wipro veteran, is set to take charge as the chief executive officer (CEO) of the company, analysts expect the stock's underperformance to continue in the near-future. This, they believe, will be on the back of likely loss of market share, and difficult business environment. "We expect Wipro to underperform peers on growth once again in FY25 as channel checks and media reports suggest Wipro is losing share with select clients across multiple verticals.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
Among the bigwigs are Union ministers Amit Shah (Gandhinagar), Jyotiraditya Scindia (Guna), Mansukh Mandaviya (Porbandar), Parshottam Rupala (Rajkot), Pralhad Joshi (Dharwad) and SP Singh Baghel (Agra).
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Going 'long' is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. "With the Nifty50 surging to new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out.
'This might prove to be a temporary gain for the BJP, but at a huge cost to the people of Gujarat and democracy in India.'
The Bharatiya Janata Party replaced at least 25 sitting MPs with new faces as the party released its second list of 72 candidates for the upcoming Lok Sabha polls on Wednesday.
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
The Indian contingent has surpassed its previous record from the 2018 Asian Para Games in Hangzhou, China, with a total of 73 medals in the current edition.
Actor-Writer Hussain Dalal is engaged to his fashion stylist and costume designer girlfriend, Zeeba Miraie.
As much as one would have liked a glimpse into the lady's culinary excellence, Tarla acquires its endearing character in Huma Qureshi and Sharib Hashmi's harmonious display of doting husband and wife, observes Sukanya Verma.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Karva Chauth was special this year for some film folk, as they had their first taste of it.
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
ITC's net profit grew the fastest, followed by HUL and Asian Paints.
Fighter's distressing lack of thrills and sizzle reduces the exercise to an excuse for tedious amounts of Pakistan bashing, observes Sukanya Verma.
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