ICICI Lombard General Insurance Company has further increased its stake in Axis Bank by bringing the total investment amounting to Rs 236 crore on October 7, 2024. The deal brings the insurer’s stake in the bank to 0.08 percent, data from a stock exchange filing showed. The transaction was carried out during market hours on […]
ICICI Lombard Increases Stake in Axis Bank, Raising Investment to Rs 236 Crore Read More »
The Securities and Exchange Board of India (SEBI) has granted approval for the much-anticipated initial public offering (IPO) of National Securities Depository Limited (NSDL). NSDL, a key player in India’s capital market, manages the dematerialization of securities. The IPO will be a pure offer-for-sale (OFS), with major shareholders like NSE and IDBI Bank set to
SEBI Approves Long-Awaited NSDL IPO; HDFC Bank Shares Gain on Stake Sale News Read More »
Shares of Bharat Electronics Ltd (BEL) were in focus on October 8 after the defense PSU announced it had secured additional orders worth over Rs 500 crore since its previous update on September 11. The new contracts include a variety of key defense projects, such as electromagnetic interference (EMI) shelters, maintenance for air command systems,
BEL Secures Over Rs 500 Crore in New Orders, Stock Remains in Focus Read More »
Capital markets regulator SEBI announced that Hero Motors has withdrawn its draft red herring prospectus (DRHP) for its proposed Rs 900-crore public issue on October 5. Meanwhile, Suraksha Diagnostic has received SEBI’s approval to proceed with its initial public offering (IPO). Hero Motors, a flagship auto components company of the Hero Motors Company (HMC) Group,
The board of Shakti Pumps has recommended a bonus issue in the ratio of 1:5, meaning shareholders will receive five additional shares for each share they hold. The decision was made during a board meeting held today, as disclosed in an exchange filing. According to the company’s statement, the bonus issue will consist of five
Shakti Pumps Board Recommends 1:5 Bonus Issue; Shares Drop 5% Read More »
Shares of Gujarat Pipavav Ports fell over 5 percent on October 7 after the company reported a disappointing business update for the July-September quarter. The port operator saw a significant drop in both container and dry bulk volumes, which contributed to the stock’s sharp decline. Total container volumes for Q2 fell 17 percent year-on-year to
Gujarat Pipavav Shares Drop 5% After Q2 Business Update Disappoints Read More »
Shares of Ambuja Cements rose over 1 percent, and HeidelbergCement India surged 13 percent on October 4, following reports that the Adani Group is in talks to acquire HeidelbergCement India and Zuari Cement. The potential buyout is estimated to be valued at around Rs 10,000 crore, according to a report by The Economic Times. Ambuja
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) is set to announce its decision on the repo rate on October 9, 2024. While a change in the policy stance is likely, a rate cut is not expected in this meeting, despite recent global trends like the US Fed’s 50-basis point cut. The repo
RBI Policy Stance May Shift, But Rate Cut Unlikely in October MPC Meeting Read More »
Jio Financial Services Ltd (JFS), the financial arm of Reliance Industries, announced on October 4 that SEBI has granted in-principle approval for its joint venture with BlackRock Financial Management to establish a mutual fund business. This approval allows JFS and BlackRock to act as co-sponsors for the proposed mutual fund The final approval for registration
SEBI Approves Jio Financial and BlackRock’s Mutual Fund Venture Read More »
Garuda Construction and Engineering IPO Price: ₹92 to ₹95 per shareIPO Dates: 8 October – 10 October 2024 Company Overview Garuda Construction and Engineering Limited was founded in 2010 and specializes in providing comprehensive construction services. Originally incorporated as a private limited company, it was converted into a public limited company in September 2023. The
