A consortium of legal luminaries, including renowned advocate Harish Salve and Bar Council of India head Manan Kumar Mishra, has penned a letter to the Chief Justice of India, highlighting perceived attempts by a “vested interest group” to exert undue influence on the judiciary and malign the reputation of the courts for political ends. In … Read more
Tata Investment Corporation Ltd (Tata Inv) witnessed another robust trading session on March 28, with its shares hitting the upper circuit of 5 percent for the second consecutive day. The surge came amidst swirling speculations regarding a series of initial public offerings (IPOs) planned by the Tata conglomerate in the coming two to three years. … Read more
In a significant move, the Adani family, known for its diverse business interests, has injected Rs 6,661 crore into Ambuja Cements, a leading player in the building materials sector. This substantial investment has propelled Ambuja Cements’ stock price nearly 2 percent higher and has concurrently boosted the Adani family’s ownership stake in the company by … Read more
Shares of Bajaj Finance saw a significant surge of 4.5% on March 28, spurred by reports indicating that its subsidiary, Bajaj Housing Finance, was gearing up for an initial public offering (IPO) with an anticipated valuation of $9-10 billion. The robust performance of Bajaj Finance stocks propelled it to the position of the top gainer … Read more
Delhi Chief Minister Arvind Kejriwal is scheduled to appear before Delhi’s Rouse Avenue court on March 28, marking the conclusion of his custody period in connection with the defunct Liquor Policy case, as per directives from the Enforcement Directorate (ED). As the ED wraps up its proceedings, the Central Bureau of Investigation (CBI) is poised … Read more
Today marks a significant milestone in the financial markets as stock exchanges introduce the beta version of same-day transaction settlement, known as T+0, for a limited selection of cash segment stocks, commencing on Thursday, March 28. This move towards T+0 settlement comes alongside the ongoing T+1 settlement cycle, showcasing the market’s gradual shift towards adopting … Read more
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
In a significant development, shares of ICICI Securities, one of India’s leading brokerage firms, experienced a notable drop of over 4% following the approval of the company’s delisting proposal by shareholders. The decision paves the way for ICICI Securities to become a wholly-owned subsidiary of ICICI Bank. The outcome of the shareholder vote, released today, … Read more
On March 28, Chalet Hotels witnessed a notable 5% surge in its shares, building upon the momentum from the preceding session. This surge came in the wake of the company’s board of directors’ green signal for a fundraising initiative through a Qualified Institutional Placement (QIP). The floor price for this QIP has been firmly set … 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
In response to an encouraging ‘buy’ rating from Motilal Oswal analysts, Titan’s share price experienced a modest uptick, reaching Rs 3,760 per share. This uptrend reflected the positive sentiment among investors following the endorsement from analysts, who highlighted Titan’s promising growth prospects. Motilal Oswal analysts set an ambitious target price of Rs 4,300, implying a … Read more
In morning trading on March 28, Biocon’s shares experienced a notable uptick of over 2% as the company received approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom for its diabetes drug. The approval comes after Biocon filed for regulatory clearance for its complex formulation Liraglutide, a 6mg/ml solution for … Read more
During the morning trade on March 28, Maruti Suzuki’s stock took a downturn, witnessing a 1% decrease to Rs 12,401. This decline followed the announcement by the company’s board of directors regarding a significant reshuffle in senior management roles, slated to come into effect from the commencement of the new financial year on April 1, … 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
Shares of Wockhardt soared by 5 percent, hitting the upper circuit at Rs 557.85 per share on the NSE on March 27. This surge came after funds associated with renowned investors Madhusudan Kela and Prashant Jain participated in the company’s Rs 480-crore Qualified Institutional Placement (QIP). Wockhardt successfully concluded its QIP on March 26, having … 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
Shares of Central Depository Services Ltd (CDSL) experienced a significant decline of around 6 percent in early trading following a notable block deal involving 1 crore shares, representing a 9.6 percent stake in the company, executed on the exchanges on March 27. The transaction, valued at Rs 1,712.9 crore, triggered a sharp reaction in the … Read more
In a highly anticipated market debut, Chatha Foods Limited, a prominent player in the food processing industry, witnessed a remarkable entry as its shares began trading on the BSE SME platform. The company’s stock listed at Rs 73, showcasing an impressive premium of 30.36% over the issue price of Rs 56. This robust premium underscored … Read more
The stock of AstraZeneca Pharma India experienced a significant surge of over 4 percent on March 27, propelled by the news of the company’s successful attainment of approval from the Central Drugs Standard Control Organisation (CDSCO) for the importation, sale, and distribution of Trastuzumab deruxtecan lyophilized powder concentrate for solution for infusion 100mg, known as … Read more