During the two-day IPO period, SRM Contractors witnessed significant enthusiasm from both retail and non-institutional investors (NIIs). The subscription window, which commenced on Tuesday, March 26, concludes today, Thursday, March 28. As per data from the BSE, the subscription status of the SRM Contractors IPO stood at 17.42 times on the second day. Notably, the … Read more
Indian healthcare giant Narayana Hrudayalaya is on the cusp of a transformative venture, aiming to introduce its insurance service by the first quarter of the financial year 2024-2025 (FY25), as revealed by a senior company official. Sandhya J, the group CFO at Narayana Health, expressed optimism about the imminent launch, stating, “We hope that in … Read more
Indian equity benchmark indices commenced the last trading day of the week and month on a notably positive trajectory, reflecting an upbeat sentiment in the market. As investors geared up for the weekend and the forthcoming Good Friday holiday, the S&P BSE Sensex recorded an impressive opening, surging by 150 points to hover around the … Read more
The SRM Contractors IPO commenced on Tuesday, March 26, with a robust initial response, and is scheduled to conclude on Thursday, March 28. Based on BSE data, the total subscription status for the SRM Contractors IPO stood at 3.56 times on Day 1 of the subscription period. Notably, the non-institutional investors (NIIs) segment witnessed strong … Read more
Despite ongoing geopolitical tensions and speculations of a prolonged period of higher interest rates, India outshines its regional counterparts by attracting the highest foreign funds flow. Foreign Institutional Investors (FIIs) display strong confidence in the Indian market, injecting a substantial $3.63 billion into Indian equities, marking their most significant buying spree since December 2023. Furthermore, … Read more
In their latest assessment, the brokerage firm has revised its target price for RIL stock, setting it at Rs 4,495 in the optimistic scenario and Rs 3,400 in the conservative scenario. This adjustment suggests a potential return of 17 percent based on the closing price recorded on March 26. Reliance Industries witnessed a notable surge … Read more
Gold prices saw an upward trajectory on Tuesday, supported by a weaker U.S. dollar, as market participants eagerly awaited the release of key inflation data later in the week. Spot gold surged by 0.5% to reach $2,182.77 per ounce by 09:58 a.m. EDT (1358 GMT), after experiencing an earlier peak of 1.3% during the session. … Read more
On March 26, Angel One announced the initiation of a Qualified Institutional Placement (QIP) issue, setting the floor price at Rs 2,555 per share, representing a discount of nearly 7 percent from the prevailing market price. In response to this development, Angel One’s shares exhibited positive momentum, closing 3.36 percent higher at Rs 2,750 apiece … Read more
In a recent interview with Bloomberg, former Reserve Bank of India (RBI) governor Raghuram Rajan offered a nuanced perspective on India’s economic landscape, urging caution against unwarranted optimism surrounding its growth trajectory. Rajan emphasized the need to confront the reality of major structural impediments hindering India’s progress, rather than being swayed by exaggerated perceptions of … Read more
On March 26, sources disclosed to CNBC-TV18 that Standard Chartered Bank’s corporate banking arm is in the process of planning a significant divestment move, aiming to offload its entire 7.18% stake in Central Depository Services (India) Ltd (CDSL) for an estimated $151 million through a block deal. This proposed transaction, poised to shake up the … Read more
In a groundbreaking revelation, Mumbai, India’s bustling financial hub, has ascended to the esteemed position of Asia’s foremost billionaire haven, outpacing Beijing, as unveiled by the Hurun Research Institute in its latest Hurun Global Rich List 2024. According to the comprehensive report, New York and London maintain their supremacy as the leading global cities for … Read more
The Reserve Bank of India (RBI) released a statement on Tuesday, indicating a noteworthy development in India’s economic landscape. According to the RBI, India’s current account deficit (CAD) has experienced a significant decline, amounting to USD 10.5 billion or 1.2 percent of the Gross Domestic Product (GDP) during the October-December quarter. This represents a notable … Read more
In a recent report released by Hurun India on Tuesday, it was revealed that a significant influx of 94 new Indian individuals has made their mark on the global billionaires list. This surge in new entrants, coupled with a net addition of 84 billionaires, has propelled India’s billionaire count to a remarkable 271, collectively amassing … Read more
Renowned economist and Member of the Prime Minister’s Economic Advisory Council (EAC-PM), Sanjeev Sanyal, has sparked a heated debate on social media with his recent remarks criticizing the UPSC exam process. According to Sanyal, the UPSC exam, which sees a vast number of aspirants, may be deemed a futile endeavor for many, considering that less … Read more
Adani Ports and Special Economic Zone (APSEZ), India’s leading private port operator, revealed its ambitious plans on Tuesday to solidify its presence along the eastern coastline of the nation through the acquisition of a significant 95% stake in Odisha’s Gopalpur Port. The proposed transaction, valued at ₹1,349 crore ($161.74) in equity terms, carries an enterprise … Read more
Stock traders opted to cash in some gains as the week commenced, with all eyes on forthcoming economic data, including the Federal Reserve’s preferred gauge of inflation—though markets are set to be closed on the same day. The suite of probes announced Monday are the first under the EU’s Digital Markets Act law, which took … Read more
The European Union has embarked on a series of investigations into tech giants Apple, Meta Platforms, and Google parent Alphabet under its newly implemented Digital Markets Act, ushering in heightened regulatory scrutiny for these major U.S. technology corporations on a global scale. Unveiled on Monday, these probes signify the initial actions taken under the EU’s … Read more
In an unprecedented move, the Gujarat Cooperative Milk Marketing Federation (GCMMF) is gearing up to launch four variations of Amul fresh milk in the United States, marking a significant milestone as the brand expands beyond Indian borders for the first time. This strategic initiative is tailored to cater to the preferences of the Indian diaspora … Read more
A visually impaired beggar in Guwahati, Assam, made headlines recently for his innovative approach to seeking alms. He was spotted using a PhonePe QR code card worn around his neck, allowing donors to make digital payments. A video capturing the moment of him receiving an online payment further underscored technology’s ability to break socioeconomic barriers. … Read more
Following the parliamentary elections, industry insiders anticipate differing approaches from Reliance Jio and Bharti Airtel regarding tariff adjustments. While Bharti Airtel plans to implement a hike in headline tariffs, Reliance Jio is poised to focus on initiatives aimed at fostering increased data consumption, potentially enticing users to upgrade to higher-priced plans. This strategy is anticipated … Read more