The stock of two wheeler maker Eicher Motors was the highest gainer among BSE 100 stocks, rising 6.6 per cent in trade on Friday. The gains came on the back of better than expected performance in the March quarter of the 2022-23 financial year (Q4FY23) and earnings upgrades by brokerages. Standalone revenues (Royal Enfield) were up 19.9 per cent year-on-year (YoY), led by an 18 per cent growth in volumes and a marginal uptick in realisations.
The government is looking at a time frame within the first two weeks of July to kick off and complete the upcoming 5G auctions, according to discussions between officials and stakeholders. It is expected that the Telecom Regulatory Authority of India (TRAI) will give its recommendations on the base price by March, after which the necessary cabinet clearances will be given. The Department of Telecommunications (DoT) had earlier looked at undertaking the auction in the first quarter of 2022 but decided to push it back. Communications Minister Ashwini Vaishnaw had also said that the auctions are likely to take place in April-May.
The scrip of Yes Bank on Tuesday listed on the Bombay Stock Exchange at Rs 65 per share, a 44.4 per cent premium to the issue price Rs 45 per share.
The Cabinet on Thursday approved a 30 per cent cut in the reserve price for sale of mobile phone spectrum in four zones that went unsold in the recent damp-squib auction.
Global Broadcast News, the owners of news channel CNN-IBN is all set to enter the capital market with its initial public offer aggregating to Rs 105 crore (Rs 1.05 billion) in a price band of Rs 230 and Rs 250 per share.
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TC at its meeting here recommended to an Empowered Group of Ministers that reserve price for pan-India 1800 MHz spectrum be fixed 15 per cent higher than Trai suggested rates.
Cairn Energy India's initial public offering of 32.88 crore (328.8 million) shares will open on December 11 and close on December 15 at a price band of Rs 160-190 per share.
Leading stock exchanges BSE and NSE on Friday decided to drop Yes Bank from Futures and Options segment from May 29. The existing Futures and Options contracts across all expiries will expire on May 28.
India's first-ever listed new-age company, Zomato, has seen a meteoric rise in its stock price in calendar year 2023 (CY23), rising 70.75 per cent during this period as compared to 9.5 per cent rise in the S&P BSE Sensex. From being the second worst hit new-age stock in CY22, crashing 57 per cent on the National Stock Exchange (NSE), the stock hit the Rs 100-mark for the first time since January 2022 in late August. The stellar run in the stock - only after PB Fintech and One97 Communications-owned Paytm, analysts say, may be coming to an end, at least for now.
The company is against strong competition, which has deep pockets. This adds uncertainty to the success of the operations of its subsidiaries abroad.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
At present, the low-cost carrier has a fleet of 29 aircraft. It plans to add 19 aircraft in the next year, of which eight will be leased Airbus A320s, four ATR 72-500s on hire purchase and one of the same to be leased.
The stock of LTIMindtree finished at Rs 5,001 a piece on Monday, which means it is down about 5 per cent from its all-time high as its June quarter results for the 2023-24 financial year (Q1FY24) missed estimates. A cautious note by the management, coupled with the fact that it will miss its double digit revenue growth target for FY24 weighed on the stock price. The company delivered revenues of just over a billion dollars in the quarter with constant currency growth of 0.1 per cent.
The initial public offering of Jet Airways on Friday received bids for 3.11 crore shares from investors against the issue size of 1.72 crore shares within few minutes of opening of bidding.
Reliance Petroleum Ltd on Monday announced its plan to enter the capital market with a public issue of 135 crore equity shares. \n
Mukesh Ambani-controlled Reliance Petroleum is understood to have fixed a price band of Rs 57-62 for its initial public offer to raise over Rs 5,000 crore (Rs 50 billion).
The entirely book-built IPO is likely to be introduced within a price band of Rs 57 to Rs 62.50.
Future Capital will be the first company to hit capital market as it is set to release its IPO at a fixed price band of Rs 700-765 per share.
Life Insurance Corporation of India (LIC) has increased the size of its shareholders' fund to Rs 6,600 crore from Rs 100 crore in a bid to accommodate a larger shareholder base ahead of its public listing. The size of the fund has been enhanced by retaining two years' of dividend and issuing fresh capital, said an official. Increasing the size of the shareholders' fund will help boost the number of shares for allotment in the insurer's initial public offering (IPO). The corpus represents the amount of equity in a company that belongs to its shareholders.
India's first auction of telecom spectrum in five years ended on Tuesday with Rs 77,814.80 crore of airwaves being bought, mostly by billionaire Mukesh Ambani's Reliance Jio. Over 2,250 MHz of spectrum, that carry telecom signals, in seven bands worth nearly Rs 4 lakh crore at the reserve or start price, was offered for bidding in the auction that began on Monday. Telecom secretary Anshu Prakash said 855.60 MHz of spectrum was bought for Rs 77,814.80 crore in the two-day auction.
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The inter-ministerial body will take the final decision on October 29 taking into account Trai's reply.
The mega initial public offer of realty giant DLF, through which the developer is expecting to garner Rs 9,625 crore (Rs 96.25 billion), got fully subscribed on Tuesday.
The second public offering of Punjab National Bank was oversubscribed by two times within minutes of its opening on Monday.
Beauty and healthcare products manufacturer Emami Ltd's public offering has received bids for shares 4.62 times the issue size, bidding for which began on Friday.
The policy review observed that the moderation in inflation, excluding food and fuel, that was witnessed in the first quarter of 2017-18 has "by and large, reversed".
Bangalore-based MindTree Consulting is floating an Initial Public Offering of 5.6 million equity shares of Rs 10 each to raise anywhere between Rs 200-240 crore
The move signals a strong demand from investors.
National Thermal Power Corporation's mega initial public offer for 86.58 crore (865 million) shares has been oversubscribed in the first 30 minutes of opening of bids.
The merits and demerits of the telcos' 5G strategy however is clearly dependent on the financial muscle of players, reports Surajeet Das Gupta.
The bidding for Petronet LNG Ltd's initial public offering has received a good response with subscription of 2.42 times the offered shares at the end of the bidding process on Tuesday.
The initial public offering for Power Trading Corporation Ltd has received an overwhelming response with investors putting pledge for 16.5 times the issue size at the end of bidding process on Monday.
The government's offer for partial divestment of its stake in Dredging Corporation of India Ltd has been oversubscribed 5.45 times at end of bidding on Thursday.
The initial public offering for Power Trading Corporation has been oversubscribed by 3.13 times while that of Petronet LNG Ltd has also evoked a strong response and received cumulative bids for 38.7 per cent of offer size.
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