Amic Forging, Graphisads among 6 SME IPOs set to hit the Street this week. Check details
Dalal Street is gearing up for another busy week in the primary market as six small and medium enterprises (SME) IPOs to hit the primary market this week. However, Swashthik Plascon has already opened for subscription and will close this week. The Rs 31.73 crore initial public offering of Amic Forging will open for subscription on Wednesday Key Points
Economic TimesSpectrum Talent Management IPO to open on Jun 9; to list on NSE Emerge
The initial share sale comprises a fresh issue of 51.85 lakh equity shares and an Offer for Sale (OFS) of 8.92 lakh equity shares.The Key Points
FinancialexpressJapan avoids technical recession as Q4 GDP revised up to slight expansion
Japan’s gross domestic product (GDP) expanded at an annualized pace of 0.4% in the October-December quarter, the revised data by Cabinet Office reported on Monday, better than the initial estimate for a 0.4% contraction. Key Points
mintPLI is initial support, industry must face competition: Piyush Goyal
India Business News: Commerce and industry minister Piyush Goyal emphasizes that the Production-Linked Incentive (PLI) schemes are meant to provide initial support to boost manufacturing, but companies should be prepared to face competition. He urges the industry to focus on global markets and collaborate for growth. The government has disbursed Rs 4,415 crore under the schemes for eight sectors, including electronics and pharma, till October 2023. Key Points
Times Of IndiaNifty Financial Services stocks: Time to be contrarian and buy?
After a long phase of three years of consolidation and relative underperformance, there were some initial signs of the private sector banks making a comeback attempt. There have been reasons for their underperformance, right from mega merger which created a technical issue of overhang in shareholding, to changes in the top management. Also the fact that these stocks came in the over owned category of foreign institutional investors, who have been sellers time and again. Key Points
Economic Times
Tailwinds of festive season and cricket world cup: 5 QSR stocks with upside potential of up to 27%
Junk food is bad for health, but having it once in a while is ok. Similarly, having some exposure to the companies which are selling them also may not be bad for one's portfolio, From having only two listed companies, Jubilant and Westlife, the OSR space saw many other players getting listed on the bourse in the last three years. After initial euphoria in which they got very high valuation, these stocks have not been in the limelight for some time. Partially because of valuations being high, but also because of the fact the churn in the shareholding which is held by private equity players is still in process of taking place. Will these stocks make a comeback in this festive season? Key Points
Economic TimesMedi Assist files DRHP with SEBI in second attempt to go public, issue entirely an OFS of 2.8 crore shares
According to the fresh DRHP, the initial public offering (IPO) is entirely an offer for sale of up to 2.8 crore equity shares of Medi Assist by promoters and existing shareholders. Key Points
mintideaForge IPO price band announced, issue opens on 26 June; check size, listing date, other details
ideaForge’s initial public offer will open for subscription on Monday, June 26 and close on Thursday June 29. The stock is expected to list on NSE and BSE on Friday July 7. Key Points
FinancialexpressElon Musk’s Neuralink installs brain implant in first human patient, says 'recovering well'
Tesla and SpaceX CEO Elon Musk has announced that his brain-computer interface company Neuralink has successfully achieved its first human implant, and... Key Points
The Tribune IndiaIndian e-tailer Firstcry's parent files to go public
BENGALURU (Reuters) - Indian online retailer Firstcry filed for an initial public offering on Thursday, its draft papers showed. Firstcry's parent Brainbees Solutions will sell shares worth 18.16 Key Points
ThePrint
Avalon Technologies' IPO gets 3% subscription on Day 1
India Business News: Avalon Technologies' initial public offering (IPO) got subscribed 3% on the first day, with bids for 3.68 lakh equity shares against 1.14 crore shares Key Points
Times Of IndiaTurkey quake: CCTV records tremors, vibrations as Turkish town gets hit again
In Samandag, where one was reportedly dead, residents said more buildings collapsed but most of the town had already fled after the initial earthquakes, reported Reuters. Following the quakes, mounds of debris and discarded furniture lined the dark, abandoned streets. | World News Key Points
Hindustan TimesBetelgeuse, star doomed to explode anytime, eclipsed by asteroid in deep space
The spectacle turned out to be more subdued than many had hoped for. initial observations suggest that the change in the star's brightness was not as pronounced as predicted. Key Points
India TodayIKIO Lighting IPO subscribed 66.29 times on last day of subscription
The Rs 606.5-crore initial share sale received bids for 1,00,92,76,892 shares against 1,52,24,074 shares on offer, according to NSE data. Key Points
FinancialexpressReliance Jio phone push may delay tariff hike: Analysts
They added that Jio's sharp focus on subscriber adds will continue to help it gain a wider user base but will further challenge average revenue per user (ARPU) growth in the absence of hikes. The JioBharat platform is ready to scale up with a successful initial trial of 1 million devices, brokerage firm BNP Paribas said in a report after the telco's fiscal first-quarter (Q1FY24) results announced Friday. Key Points
Economic Times
IPOs in January: Top performers and failures as 22 companies hit Dalal Street
IPOs in January: Kay Cee Energy & Infra stood at the top of the heap. It is currently trading at ₹295.95 apiece- 447% higher than its IPO price of ₹54. Key Points
Hindustan TimesJapan Q4 GDP revised up to slight expansion, economy avoids recession
Japan's economy evades technical recession, with revised GDP data showing an expansion of 0.4% in Q4 2020, contrary to initial estimates of a 0.4% contraction. Key Points
Business TodayIntel delays $20 billion Ohio project, citing slow chip market: report
Its initial timeline had chip-making starting next year. Construction on the manufacturing facilities now is not expected to be finished until late 2026, the report said, citing people involved in the project. Key Points
Economic TimesIPO Frenzy: 16 companies hit Dalal Street in January with 6 more set to list; a look at top performers
16 companies made their debut on Dalal Street in January, and an additional six companies are scheduled to list this month, bringing the total number of new listings to 22. In terms of top performers, Kay Cee Energy & Infra stood at the top with a gain of 447% over the issue price of ₹54 apiece. Key Points
mint3 IPOs under market regulator SEBI's scanner for inflating subscriptions
The development was confirmed by SEBI chairperson Madhabi Puri Buch at an event. She also said that the market regulator is working on measures to put an end to such malpractices. Key Points
India Today
Pre-market action: Here's the trade setup for today's session
The rupee pared all its initial gains to settle just 1 paisa higher at 83.14 against the US dollar on Monday, as the support from lower crude oil prices in international markets was offset by a weak trend in domestic equities. Key Points
Economic TimesGIFT Nifty down 20 points; here's the trading setup for today's session
The rupee surrendered all its initial gains to settle 2 paise lower at 83.05 against the US dollar on Monday, in line with a lacklustre trend in domestic equity markets. Key Points
Economic TimesInox India IPO fully subscribed on strong retail interest. Check GMP and other details
The initial public offer (IPO) of Inox India was fully subscribed on the first day of bidding. The issue was booked 1.17x so far, driven by strong interest from retail and HNI investors. Key Points
Economic TimesRats chew on man's body at Uttarakhand mortuary, family alleges negligence
The man's brother, said that upon their initial visit to the mortuary, they noticed a broken lock on the freezer where the body was kept. Despite raising this concern with the hospital staff, they were reassured that the body would remain secure. Key Points
India TodayThese Nifty Financial Services stocks can deliver more than 15% returns
After a long phase of three years of consolidation and relative underperformance, there were some initial signs of the private sector banks making a comeback attempt. However the RBI decision to curb unsecured lending, made the sentiment turn against them. But only sentiment, in reality will it make a difference for their long term perspective is a matter of debate with answer titling in favour of NO. After today’s monetary policy one more risk is off the table Key Points
Economic Times
18-Year-Old New Yorker sets Guinness World Record for highest tennis ball catch
18-year-old Cameron Heinig from New York has broken a Guinness World Record by catching a tennis ball dropped from a drone at a height of 469.5 feet. Alongside his friend Julian, a skilled drone pilot, Cameron spent two years attempting to establish a new record. After initial setbacks, they introduced a baseball glove into their practice sessions, which proved to be a game-changer. Despite initial concerns about potential pain, Cameron ultimately caught the ball barehanded on his third attempt, surpassing the previous record by 75.4 feet. Key Points
Economic TimesIsrael's Oddity seeks higher valuation in US IPO
Oddity Tech said on Monday it was targeting a valuation of $1.92 billion in its U.S. initial public offering (IPO), more than 13% higher than what it was previously seeking. Key Points
ReutersUpcoming IPOs in India 2023
A private limited business must go through the IPO, or initial public offering, process in order to sell its shares to the general public. Through the IPO, the corporations raise money from the general public for debt repayment. Key Points
Times of IndiaStocks in news: Delhivery, NTPC, TCS, ZEE Ent, HDFC AMC
Nest and TCS expand strategic partnership to provide enhanced member experience. The contract value was signed for £840 million with an initial tenure of 10 years. Key Points
Economic TimesGovernment may file draft papers for IREDA public offering by September: DIPAM Secretary
The government is planning to file draft papers for an initial public offering of state-owned Indian Renewable Energy Development Agency (IREDA) by September, a top official said. We have appointed the merchant bankers and they will proceed with valuation. We should be able to file the DRHP in 3-4 months, could be by September, Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey told PTI. Key Points
Economic Times
Global Markets: Wall Street set to open higher, European shares boosted by debt deal hopes
U.S. initial jobless claims data are due later in the session. Recent economic data has raised expectations that the Fed will keep interest rates higher for longer, with some investors betting another hike in June is not off the table. Key Points
FinancialexpressCouple found murdered at home in Meerut
The bodies of Pramod Karanwal (52) and his wife Mamta (50) were found in a room on the first floor of their house in sector-6 of Shastri Nagar locality, said senior superintendent of police (SSP) Rohit Sajwan, who inspected the spot. Sajwan said initial probe suggested that a sharp-edged weapon was used to kill the couple and the angle of loot had also not been ruled out. Key Points
Hindustan TimesPoland says supplied some of pledged MiG-29s to Ukraine
A few MiG-29s have already been sent. They are indeed helpful to Ukraine in its defence of our collective security, Polish presidential aide Marcin Przydacz told local radio station RMF FM. Key Points
Economic TimesHazlewood to miss initial stage of IPL 2023; Maxwell doubtful for RCB's opener
RCB will miss the services of Josh Hazlewood for the initial stages of IPL 2023. Glenn Maxwell is also doubtful for the season opener. | Cricket Key Points
Hindustan TimesShare market jumps in early trade, Nifty tests 17000 level
The 30-share BSE Sensex advanced 218.68 points to 57,832.40 in initial trade. Key Points
Financialexpress
Patron Exim IPO opens for subscription: Check out key details
Patron Exim's initial public offering opened for subscription today. Check out all the key details about the Ahmedabad-based SME. Key Points
India Today