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Crest Financial Services is a premium wealth management consulting firm with a special focus on mutual funds, term insurance & health insurance. Guided by the credo of transparency and ethics it intends to bring professionalism and expertize in field the of financial management. We offer complimentary financial scenario analysis and goal tracking service to help in major life decisions.

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Fund Performance
IKIO Lighting's Rs 607-crore IPO to open on June 6

Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.
2023-06-02T06:01:12+05:30

IKIO Lighting IPO to open on June 6; price band fixed at Rs 270-285 per share

Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.
2023-06-01T13:27:29+05:30

SME IPO tracker: Infollion Research offer subscribed 5.68 times; CFF Fluid Control issue subscribed 54% so far

Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.
2023-05-30T17:30:14+05:30

SME IPO: CFF Fluid Control issue to open for subscription on Tuesday. 10 things to know about the issue

CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.
2023-05-29T16:41:49+05:30

Krishca Strapping Solutions lists at 120% premium

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.
2023-05-27T07:54:08+05:30

SME IPO: Crayons Advertising subscribed 147 times, listing on June 2

Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.
2023-05-26T17:01:06+05:30

Happy Forgings plans up to Rs 1,200 crore IPO

Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.
2023-05-26T06:11:11+05:30

Ola Electric plans up to $1b IPO at $10b valuation

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment
2023-05-25T17:47:29+05:30

SME IPO: Infollion Research Services' public issue opens on May 29. Top 10 things to know

Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.
2023-05-25T16:13:04+05:30

Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak: Report

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.
2023-05-25T14:18:04+05:30

SME IPO tracker: Hemant Surgical Industries issue subscribed 2.45 times; Proventus Agrocom's offer subscribed 4% so far on Day 1

The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.
2023-05-24T17:52:22+05:30

SME IPO Tracker: Vasa Denticity gets muted response on Day 1; Auro Impex and Chemicals sees flat listing

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.
2023-05-23T19:02:27+05:30

Pune-based IT firm Vinsys completes pre-IPO round at Rs 200 cr valuation

Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.
2023-05-22T16:50:30+05:30

SME IPO: Crayons Advertising public offer fully subscribed within hours of opening on Day 1

Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.
2023-05-22T15:08:51+05:30

ECGC IPO likely to be pushed to next fiscal amid volatility

The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.
2023-05-21T08:16:08+05:30

DRHP filing for IREDA listing likely in 6 months

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.
2023-05-19T23:17:16+05:30

SME IPO: Hemant Surgical issue to open on May 24. 10 things to know about the offer

Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements
2023-05-19T15:05:38+05:30

Vasa Denticity SME IPO: 10 things to know about the public offer

Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'
2023-05-18T21:41:00+05:30

Nexus Select Trust REIT IPO listing likely on Friday. What to expect

Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.
2023-05-18T15:41:14+05:30

Crayons Advertising SME IPO: 10 things you must know before investing

Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.
2023-05-18T12:46:22+05:30

Manyavar promoters to launch OFS

The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.
2023-05-18T06:49:56+05:30

SME IPO: Remus Pharmaceuticals gets muted response on Day 1. 8 key things to know about the issue

Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from
2023-05-17T21:40:54+05:30

SME IPO: Crayons Advertising IPO to open on May 22, price band fixed at Rs 62-65

Crayons Advertising, a homegrown integrated advertising agency, is set to go public on Monday, May 22, with a price band of Rs 62-65 per share. The company plans to use the proceeds from the public issue to invest in setting up its own film and animation studios and enhancing its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech.
2023-05-17T13:26:42+05:30

SME IPO: Krishca Strapping Solutions gets strong response on Day 1. 10 things to know about the issue

Krishca Strapping Solutions has announced its Initial Public Offering (IPO), planning to raise Rs 18 crore. The manufacturing company, incorporated in 2017, specializes in making and selling high-quality steel straps, steel seals, strapping tools and other packaging solutions. The IPO's size consists of up to 33.2 lakh equity shares with a face value of Rs 10 each. The company has a steel strapping capacity of 18,000 MT annually and aims to use the net proceeds for setting up a new strapping line, repayment of debt and for other corporate purposes.
2023-05-16T21:37:03+05:30

Blackstone Group-backed Nexus Select Trust REIT to list on Friday

Nexus Select Trust, India's first retail assets-led real estate investment trust (REIT), backed by Blackstone Group, has raised over INR1.44bn ($19m), accounting for 45% of a $429m IPO, from 16 institutional investors in its fully-subscribed anchor book. The REIT owns 17 assets across 14 cities with Mumbai, Bangalore and Delhi being the primary markets. At the upper end of the IPO's price band, which was INR95-100 per unit, the issue was subscribed 6.55 times in the non-institutional investor category and 5.06 times by institutional investors.
2023-05-15T16:52:54+05:30

Nexus Select Trust REIT IPO allotment expected tomorrow. Here's how you can check status

Nexus Select Trust REIT IPO's share allotment is set to take place on May 16th, with the process being supervised by the registrar. Investors may receive shares based on a lottery basis. Investors can check their allotment status through the BSE or the registrar's website. Currently, Nexus Select Trust shares are commanding a premium of ₹2 in the unlisted market. The company aims to offer a pre-tax yield of 8% in FY24, at the upper price band, and will be India’s first REIT with rent-yielding retail real estate assets.
2023-05-15T16:06:53+05:30

Jupiter Hospital files DRHP with Sebi for Rs 900-1,100 crore IPO

Sources told ET that the total IPO size would be Rs 900 - 1,100 crore, and the company may consider a Pre IPO placement of Rs 123 crore.
2023-05-12T12:50:05+05:30

Nexus Select Trust IPO subscribed 5.7x

The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of ₹95-100 per unit.
2023-05-12T05:50:22+05:30

Nexus Select Trust REIT issue closes with 5.74 times subscription

Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.
2023-05-11T20:05:24+05:30

Nexus Select Trust REIT IPO sails through on Day 3

India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.
2023-05-11T13:06:11+05:30

JSW Infrastructure files papers for Rs 2,800-cr IPO

The ports business of the Sajjan Jindal-led JSW Group plans to deploy the proceeds of the public issue to retire its debt and fund capacity expansion projects. The IPO is entirely a fresh share issue.
2023-05-11T05:57:54+05:30

Nexus Select Trust REIT IPO receives 57% subscription on Day 2 of offer

Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyer’s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May.
2023-05-10T19:52:08+05:30

JSW Infrastructure files DRHP to raise up to Rs 2,800 crore via IPO

The JSW Infrastructure IPO is the third public listing by the JSW Group and follows 13 years after the public listing of JSW Energy in January 2010. JSW Infrastructure Promoters will not be diluting their current stake.
2023-05-10T10:38:41+05:30

Mankind Pharma rallies 32% on day 1

At Tuesday's closing price, Mankind Pharma was valued at a price-to-earnings ratio of 43 times its FY22 earnings. Mankind is now India's fifth largest pharma company by market value of ₹57,046 crore. Sun Pharma, Divi's Lab, Dr. Reddy's Lab, and Cipla are currently valued between ₹75,284 crore and ₹2.31 lakh crore.
2023-05-10T05:39:11+05:30

Nexus Select REIT IPO subscribed 28% on Day 1, non-QIB portion subscribed 42%

Nexus Select Trust real estate investment trust (REIT), which includes a fresh offering and OFS portion, was subscribed 28% on the first day of the IPO. The REIT has a price band of Rs 95-100 per unit and closed on May 11. A day ahead of the IPO, Nexus raised Rs 1,440 crore from anchor investors. At the upper band of Rs 100 per unit, the company has a market cap of Rs 15,150 crore and offers a pre-tax yield of 8% in FY24. It is the largest mall platform in India and includes 17 high-quality assets.
2023-05-09T20:45:45+05:30

Nexus Select Trust REIT IPO: India’s first rental yielding retail REIT opens. Should you subscribe?

Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore.
2023-05-09T09:42:03+05:30

Mankind Pharma IPO: What GMP signals ahead of listing on Tuesday

Mankind Pharma is set to list on May 9 with a premium of Rs 120 apiece according to grey market trends. The company is valued at a price-to-earnings ratio of 30 times FY22 earnings and has a market capitalisation of Rs 44,000 crore. The initial share sale of the company was subscribed 15.32 times with strong interest from QIBs and is the largest IPO so far this year. The company has 25 manufacturing facilities across India, a dedicated in-house R&D centre and a team of over 600 scientists.
2023-05-08T15:48:39+05:30

Alibaba logistics arm eyes up to $2 billion Hong Kong IPO: Reports

Cainiao Network Technology's initial public offering (IPO) plan comes after Alibaba flagged in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.
2023-05-08T09:27:58+05:30

TPG-backed RR Kabel files IPO papers with Sebi

RR Kabel proposes to utilise the net proceeds towards the funding of repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions estimated to be Rs 170 crores.
2023-05-07T13:19:34+05:30

GoI, Vedanta likely to discuss Balco IPO

The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.
2023-05-06T07:19:13+05:30

Select Citywalk, Elante Mall & more: India's largest mall platform - Nexus Select to launch REIT IPO on May 9

2023-05-03T16:57:28+05:30

Nexus Select Trust REIT IPO: 10 things to know about the first retail asset offering in India

India's first retail asset offering, Nexus Select Trust, will launch its IPO on May 9, closing on May 11, with a price band for its initial shares of between INR 95-100 ($1.28-$1.35). The company, which has 17 high-quality mall assets in 14 cities across India with a total leasable area of 9.2 million sq ft, is the country's largest mall platform. The IPO comprises a fresh issue of shares worth INR 1,400 crore and a sale of existing shares of up to INR 1,800 crore.
2023-05-03T15:45:40+05:30

Nexus Select Trust REIT IPO: Price band announced, check dates

Nexus Select Trust is India’s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities such as Delhi (Select Citywalk), Navi Mumbai (Nexus Seawoods), Bengaluru (Nexus Koramangala), Chandigarh (Nexus Elante), Ahmedabad (Nexus Ahmedabad One) among others.​
2023-05-03T09:08:19+05:30

Tata Play, ideaForge get nod for IPOs

Tata Play and drone maker ideaForge Technology have both received regulatory approval from the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs). Tata Play was the first company in India to use the confidential pre-filing of draft papers option for an initial share sale in December 2022, and obtained the regulator's observation letter on April 26.
2023-05-03T08:01:23+05:30

Leading drone maker ideaForge gets Sebi nod for IPO

The public issue comprises a fresh issue of Rs 300 crore and an offer for the sale of 48.69 lakh equity shares. The offer also includes a reservation for a subscription by eligible employees.
2023-05-02T20:32:35+05:30

Fincare SFB files draft papers with Sebi to raise funds via IPO

The IPO comprises fresh issues of up to Rs 625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by promoter and investor selling shareholders.
2023-05-02T19:40:32+05:30

Sebi returns IPO papers of Akme Fintrade

The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on February 16.
2023-05-02T19:31:05+05:30

Mankind Pharma IPO: GMP rises ahead of likely share allotment tomorrow. Here's how to check status

Mankind Pharma's Rs 4,326 crore initial public offering (IPO), the largest by a domestic drug maker so far in 2021 and with a 15.32 times subscription rate, will have share allotments made on 3 May via a lottery. Retail investor bids for the offer-for-sale fell below 100%. The IPO values Mankind Pharma at a price/earnings ratio of 30 times FY22 earnings, with its shares said to command a Rs 95-98 premium in the unlisted market, indicating an expected premium of 9% for the company when it lists. Mankind Pharma has 25 manufacturing facilities in India.
2023-05-02T14:10:15+05:30

Blackstone-backed Nexus Select Trust's Rs 3,200 cr REIT IPO to open on May 9

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.
2023-04-30T09:42:46+05:30

Eye on SME IPOs! 150-200 companies could enter D-Street in FY24

Industry experts predict that in FY24, more small and medium-sized (SME) companies will plan to go public, further increasing the amount of money raised, following over 100% YoY growth. In FY2022-23, IPOs collectively raised over INR 2,200 crore ($296m). This was achieved through 125 issues, and it is expected that 150-200 companies from this sector could list on Indian stock exchanges in FY24. Hem Securities has supported around 80 SMEs to become listed, with many instances of over 100% returns. The objective of the SME IPO Conclave was to encourage entrepreneurs to list and share success stories.
2023-04-29T09:23:27+05:30
Big movers on D-Street: What should investors do with South Indian Bank, HUL and Sobha?

Indian equity benchmarks closed lower due to profit booking and a slump in the global markets. The auto and IT sectors gained slightly but banking, financials, and metal stocks fell. South Indian Bank rose by 9.57%, HUL gained 0.88% and Sobha rose nearly 7%. Kotak Securities' VP of Technical Research, Amol Athawale, suggests buying South Indian Bank above Rs 18 as the stock has formed a promising price volume breakout formation. Athawale also recommends buying HUL on dips and buying Sobha as the stock is comfortably trading above the 20-day SMA.
2023-06-02T08:23:55+05:30

Sensex at 100,000 does not look unimaginable, see it going beyond it: Nilesh Shah

​In about 20 years, these six states have reached where India was yesterday. Now, if all of us continue to work in similar fashion for next 20 years, these six states will create today's five India.
2023-06-02T08:00:00+05:30

Underperforming Nifty Next 50 offers a good entry point

Wealth managers believe the Nifty Next 50 represents the next rung of liquid securities after the Nifty 50 and recommend an allocation to this index for equity investors. The Nifty Next 50 trades at a one-year forward price-earnings ratio of 28, compared with its five-year average of 28.93, making valuations reasonable.
2023-06-02T07:56:48+05:30

Dollar wallows as June Fed bets ebb, debt ceiling deal close

The US dollar fell to a one-week low against major currencies, potentially ending its weakest week since late March, raising the possibility that the Federal Reserve will cancel June's interest rate hike. Consequently, the dollar lost vital support when it became apparent a bill to halt the US's debt ceiling and prevent the country falling in default could soon be made law. The US dollar index, which measures the dollar against six rivals, had lost 0.63% by 2 June and if that trend continues, it will register its worst performance since the week ending 26 March.
2023-06-02T07:39:19+05:30

Oil prices rise as market awaits possible OPEC+ cuts

Oil prices inched up in early Asian trade as markets weigh the possibility of price-supportive production cuts by OPEC+ members over the weekend. The Brent crude futures rose by 0.18%, to $74.41 a barrel, while the West Texas Intermediate crude rose by 0.21%, to $70.25 a barrel following two days of declining crude prices. Investor attention is now focused on the OPEC+ June 4 meeting, where the ministers from key oil-producing countries will determine whether to reduce further output to support government revenues. The U.S. monetary policy and the debt ceiling bill boosted market sentiment.
2023-06-02T07:39:00+05:30

Gold set for weekly gain on Fed pause bets

Gold prices are heading for their biggest weekly gain in almost two months due to the US Federal Reserve's pause in the tightening of its policies, which has supported bullion's appeal. The precious metal has gained around 1.5% this week, with a potential to increase up to its biggest rise since the week ended on April 7th. Markets are now suggesting that there is a 79.6% probability that interest rates will remain unchanged in June, which is motivating investors to invest in gold.
2023-06-02T07:38:45+05:30

Asian shares rise on debt bill progress, Fed pause hopes

Asian stocks rallied on Friday as hopes of the Federal Reserve postponing interest rate hikes in its upcoming meeting and progress on the US debt ceiling bill ignited the investor's interest in risky assets. The US Senate is likely to approve the debt-ceiling raising bill soon, which helped the progress of stocks. Traders have reduced their bets on the Federal Reserve's interest rate hike in the coming weeks, leading to a 20% chance compared to 50% last week. Investors are now focusing on the highly anticipated May unemployment report, which may influence the rate hike decision of the Federal Reserve.
2023-06-02T07:35:37+05:30

Wall Street rises on hopes of Fed pausing hikes, debt ceiling deal cheer

The Nasdaq and S&P 500 have surged to nine-month highs following signs of slowing wage pressure in the US, which raised hopes of an interest rate pause, as well as Congress suspending the US debt ceiling. The Federal Reserve still faces a tight labour market, however, which could mean rates remain elevated. Many reports are pointing to signs of the Fed being able to engineer a soft economic landing. The Labor Department’s closely watched unemployment report for May is due on Friday, and the data therein will ultimately determine whether there will indeed be aggressive rate hikes by the Fed.
2023-06-02T07:32:58+05:30

Stock Market Live Updates: SGX Nifty signals a positive start; Asian shares trade higher

2023-06-02T07:25:00+05:30

SGX Nifty up 65 points; here's what changed for market while you were sleeping

After continuous buying in May, FPIs turned marginal net sellers at Rs 71 crore on Thursday. DIIs, meanwhile, bought shares worth Rs 489 crore.
2023-06-02T07:00:00+05:30

Stocks in news: Adani Enterprises, Infosys, Info Edge, Aditya Birla Capital, Coal India

Info Edge's subsidiary AIPL has given out a loan of Rs 288 crore to a broker network company 4B Networks. The loan is currently impaired. AIPL has initiated a forensic audit into the affairs of 4B Networks.
2023-06-02T07:00:00+05:30

Stock Radar: Buy this stock from banking space for near-term targets of...: Ruchit Jain

2023-06-02T07:00:00+05:30

Street buoyant with strong inflows, good opportunities to spur deals

Domestic investors are now showing more interest while the market is also showing some promising opportunities. Over the past two weeks, three deals in the finance sector got concluded, including Abrdn (Mauritius Holdings) 2006 selling stake in HDFC Life Insurance and Tencent Cloud Europe BV selling stake in PB Fintech.
2023-06-02T06:39:42+05:30

Coal India OFS open for retail investors

Experts said investors can subscribe so for the attractive dividend yield and reasonable valuations, as earnings growth of the country's largest coal miner could be relatively subdued in FY24.
2023-06-02T06:33:50+05:30

Kotak Bank's unsecured loans to be available to all borrowers

Kotak Mahindra will follow HDFC Bank, the country's most valued lender, in opening its unsecured book to outside bank customers, perhaps, as early as next month. The lender is already enrolling non-bank customers for its credit card relationships.
2023-06-02T06:29:04+05:30

Kerala's KIIFB to raise Rs 1,000 cr via green bonds

"The issuer is having a corpus fund of ₹2,498.42 crore as of the date and has absolute beneficial ownership," said said Nagesh Singh Chauhan, head of debt capital markets at Tipsons.
2023-06-02T06:25:01+05:30

FPI holdings of 7-, 14-yr gilts soar after RBI eases access

On July 7, 2022, the RBI widened the scope of the 'Fully Accessible Route' (FAR) for non-resident investment in government bonds to include 7-year and 14-year securities. Foreign portfolio investors' holdings of the 7-year government bond have since increased multi-fold to ₹7,084 crore as on March 31, 2023, compared with ₹118 crore before the inclusion of the bond in the FAR category, the RBI said in its annual report for 2022-23.
2023-06-02T06:14:51+05:30

Fed signal for rate pause takes pressure off hot jobs report

Governor Philip Jefferson, a centrist who's nominated to be vice chair and who often echoes Chair Jerome Powell's views, said Wednesday that skipping an increase would give policymakers time to assess data but not preclude future tightening.
2023-06-02T06:10:44+05:30

Nifty Midcap 100 hits new high; experts see 25% rally

The index has gained 5% in the last six months and 20% in the last one year compared to Nifty's -1.7% and 12% returns during these periods. The ratio line of the Nifty Midcap 100 to Nifty 500 index has also recorded a breakout from five years of consolidation. This, according to analysts, indicates an acceleration of upward momentum in the broader market.
2023-06-02T06:05:29+05:30

IKIO Lighting's Rs 607-crore IPO to open on June 6

Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.
2023-06-02T06:01:12+05:30

Vedanta parent raises $450 million from two rivals

The money from Trafigura will be used to make debt repayments of $150 million to Oaktree, a research report issued by Nomura stated. The loan from Glencore, reported in stock exchange disclosures, was raised by pledging 4.4% of listed Vedanta Ltd.
2023-06-02T05:56:46+05:30

RBI resumes variable rate reverse repo operations

The RBI said it will conduct a 14-day VRRR auction worth ₹2 lakh crore on June 2 from 10:30-11:00 am IST. The date of reversal of the VRRR is June 16.
2023-06-02T05:48:05+05:30

Rupee logs best one-day gain in 2 months

"The Indian rupee strengthened amid stellar economic data and foreign fund inflows," HDFC Securities research analyst Dilip Parmar said. "It has clocked the best single-day gain in almost two months following dollar inflows and lower commodity prices," he said.
2023-06-02T05:42:38+05:30

Ahead of Market: 10 things that will decide D-Street action on Friday

Indian benchmark indices Sensex and Nifty ended lower in a highly volatile trade on Thursday due to selling in banking, metal, and energy counters amid a mixed trend in global markets. The 30-share BSE Sensex declined by 194 points to settle at 62,428.54, marking the second consecutive day of losses. While investors turned cautious about inflationary pressure in the US after raising the US debt ceiling, the domestic market displayed better than estimated Q4 earnings growth and 7.2% GDP growth in FY23.
2023-06-01T21:58:12+05:30

Coal India OFS gets strong institutional support; is it worth a bet for retail investors?

The Indian government received good response from institutional investors in the third offer for sale (OFS) of a stake in Coal India, with the non-retail portion oversubscribed by 346%. However, CIL shares have underperformed in the four years since the government offloaded 10% of its stake for INR220bn ($3bn) in 2015, returning negative 8%. CIL announced an 8% increase in major coal grade prices this week, its first significant hike in five years. Retail investors, who are offered a 7% discount, may welcome the opportunity to buy shares at a lower price point, according to experts.
2023-06-01T21:23:32+05:30

ET Market Watch: Sensex & Nifty close in the red, dragged by bank & fin stocks

2023-06-01T21:16:07+05:30

Decoded: Why is SEBI proposing additional disclosure for high-risk foreign portfolio investors

2023-06-01T20:55:55+05:30

​Market Trading Guide: PNB Housing, Redington among 8 stock recommendations for Friday​

2023-06-01T20:49:31+05:30

Adani group will thrive with or without Modi, bets GQG’s Jain

Rajiv Jain, chief investment officer at GQG Partners, has reaffirmed his fund's commitment to India, holding around $13bn in the country's stocks, despite broader investor worries about corporate governance and political risk. Jain added that he and his colleagues were looking to buy more, with Indian infrastructural projects presenting new opportunities. He also defended his decisions to invest some $2.5bn into beleaguered conglomerate Adani Group.
2023-06-01T19:58:57+05:30

Adani Enterprises to move out of short-term additional surveillance framework on Friday

The flagship company of the Adani Group was put under short-term ASM framework in May, following a steep rally in the stock prices after a Supreme Court-appointed panel found no evidence of stock price manipulation in the group companies.
2023-06-01T19:34:02+05:30

ICICI Direct pegs 12-month target of Nifty at 21,500, helped by macro stability and resilient earnings

ICICI Direct predicts that healthy double-digit earnings growth and macro stability will bolster the markets in India, predicting that the Nifty will reach 21,500 within a year. It sees structural bets in banking, capital goods, domestic consumption, and autos. Key sectors, such as BFSI, auto, and FMCG companies, have seen upgrades after the fourth quarter. Conversely, IT, oil and gas, metals, and telecom have seen downgrades. The aggregate Nifty earnings were revised downwards by 1%. Encouraging GDP data shows Indian growth rates rising at a healthy 7.2%, while inflation has also eased.
2023-06-01T19:33:28+05:30

Wall St rises on debt ceiling deal cheer, hopes of Fed pause

The bill to suspend the $31.4 trillion debt ceiling headed to the Senate, which must enact the measure before a Monday deadline, when the government is expected to run out of money to pay its bills.
2023-06-01T19:16:28+05:30

SEBI should retrospectively tighten FPI disclosure norms, claims Cong

Congress has demanded that the Securities and Exchange Board of India (SEBI) should ensure complete disclosure of ownership of Foreign Portfolio Investors (FPIs) from retrospective effect and that a Joint Parliamentary Committee (JPC) can investigate who diluted and then removed the very rule in this regard to benefit the Adani group.
2023-06-01T19:16:23+05:30

Tech View: Holding above support level pivot for Nifty amid global uncertainty

The Nifty 50 ended lower for the second time due to global uncertainty, according to Angel One's Rajesh Bhosale. Traders should remember that the primary trend stays upbeat, he added. The market analysist suggested that if global conditions improve the Nifty 50 could go up to 18600-18700 in the near future. The Senior Technical and Derivative Analyst at HDFC Securities, Subash Gangandharan, said the Nifty remained uptrend. The expert suggested that if the previous swing high support at 18459 holds, the index should resume its uptrend.
2023-06-01T18:37:40+05:30

Overachievers! These Sensex stocks managed to trump Street expectations in Q4

Kotak Institutional Equities said that the 4QFY23 results of companies in the Sensex pack were modestly above its expectations.
2023-06-01T17:53:40+05:30

S&P Global affirms RIL's ‘BBB+’ rating on resilient operational performance

S&P Global has backed its rating of Reliance Industries, citing its resilient performance. Its rating has been affirmed at BBB+ and the issue rating on the senior unsecured debt has also been affirmed. S&P Global's stable outlook suggests it expects RIL's cash flows to remain strong and preserve its financial profile, despite elevated investments over the next two years. The ratings agency believes earnings growth in the digital and retail segments will temper the potential softness in the O2C business, which is the mainstay for the company.
2023-06-01T17:50:28+05:30

Financials, autos lead Q4 earnings for India Inc in an otherwise lopsided quarter

India's financial and auto sectors drove the earnings growth for Q4, while metals and cement reported weaker-than-expected performances, dragging overall performance down. BFSI and auto posted 43% and 115% YoY earnings growth respectively, while excluding metals and oil and gas segments, companies experienced 34% and 30% YoY earnings growth. However, if the BFSI segment is excluded, profits grew just 4% for Motilal Oswal-covered companies. Five companies, SBI, Tata Motors, BPCL, Reliance Industries, and Axis Bank, contributed 96% of incremental YoY growth in earnings.
2023-06-01T17:47:50+05:30

Stock market update: Nifty Bank index falls 0.77%

The Nifty Bank index closed 0.77 per cent down at 43790.2.
2023-06-01T17:28:08+05:30

Breakout Stocks: What traders should do with Zensar Technologies, Suzlon and Dixon Tech that was up over 30% in May

Indian market closed in the red for the second day in a row while S&P BSE Sensex fell nearly 200 points and Nifty50 closed below 18500 levels. Zensar Technologies, Suzlon, and Dixon Technologies were in focus with the former showing bullish patterns on the daily chart, the latter a weekly trend uptick and Dixon showing big breakout moves above 3120m levels after multiple rejections on daily time frames.
2023-06-01T17:19:30+05:30

How to balance your risks in equity mutual funds via aggressive hybrid schemes? Here are 5 schemes worth considering

Aggressive hybrid mutual funds invest 65-80% of total assets in equity and equity-related instruments and 20-35% in debt. They are less risky than pure hybrid funds. Here are five best-performing aggressive hybrid mutual funds over the past five years: Quant Absolute Fund Direct-Growth Fund, JM Equity Hybrid Fund Direct-Growth Fund, ICICI Prudential Equity & Debt Fund Direct-Growth Fund, Kotak Equity Hybrid Fund Direct-Growth Fund, and HDFC Retirement Savings Fund - Hybrid Equity Plan Direct-Growth Fund. The expense ratio for ICICI and HDFC funds was 1.2% and 1.03%, respectively, while that for the other three was 0.58%-1.37%.
2023-06-01T17:18:03+05:30

Stock market update: FMCG stocks down as market falls

The 30-share BSE Sensex closed down 193.7 points at 62428.54
2023-06-01T17:17:50+05:30

Govt to exercise greenshoe option in Coal India OFS after 346% oversubscription

On Wednesday, the government announced launching an OFS in Coal India as part of its disinvestment plan.
2023-06-01T17:14:38+05:30

Stock market update: Nifty IT index advances 0.43%

The Nifty IT index closed 0.43 per cent up at 29446.25.
2023-06-01T17:12:38+05:30

Sensex at Mt 100K only a matter of time, will happen in next 4-6 years: Shankar Sharma

"I think with the larger size of the opportunities, the scale itself becomes much larger, much larger. So, today is actually probably the best time in the history of modern India that you should be out there investing because a $3 trillion economy will grow. You will simply add $150-200 billion in GDP every year, which used to be the GDP when I entered the market, just the scale is massive. Nothing is lost. It is not too late. Get in now."
2023-06-01T17:04:51+05:30

Share market update: Most active stocks of the day in terms of traded value

The NSE Nifty index closed 46.65 points down at 18487.75
2023-06-01T17:02:24+05:30

Stock market update: Nifty Realty index advances 1.09%

The Nifty Realty index closed 1.09 per cent up at 484.0.
2023-06-01T16:57:10+05:30

Gainers and Losers: Apollo Hospitals among top 5 stocks in spotlight on Thursday

While the Sensex closed at 62,428, down by 194 points or 0.31%, the broader market Nifty50 settled at 18,488, down by 47 points or 0.25%.
2023-06-01T16:56:24+05:30

Stock market update: Sugar stocks mixed as market falls

The 30-share BSE Sensex closed down 193.7 points at 62428.54
2023-06-01T16:51:59+05:30

Stock market update: Fertilisers stocks up as market falls

The 30-share BSE Sensex closed down 193.7 points at 62428.54
2023-06-01T16:46:47+05:30

9 midcap stocks ideas from KIE that can offer 12-40% returns

​Kotak Institutional Equities (KIE) has added Aavas Financiers, KIMS and Sun TV Network to its model midcap portfolio while removing Max Healthcare.​
2023-06-01T16:44:42+05:30
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