Indian Market

Hi-Tech Pipes Approves Fundraising Plan of Rs 600 Crore via Multiple Avenues

Hi-Tech Pipes Approves Fundraising Plan of Rs 600 Crore via Multiple Avenues

/ Indian Market

Hi-Tech Pipes has announced that its board of directors has approved a plan to raise Rs 600 crore through the issuance of various securities. The fundraising will be carried out through multiple channels, including private placements, qualified institutional placements (QIP), follow-on public offerings, or rights issues, according to an exchange filing by the company. The […]

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Government Reduces Windfall Tax on Crude Oil to Rs 2,100 per Tonne

Government Reduces Windfall Tax on Crude Oil to Rs 2,100 per Tonne

/ Indian Market

It reduced the windfall tax, also known as special additional excise duty, on domestically-produced crude oil to Rs 2,100 per tonne from Rs 4,600 per tonne earlier. This reduction in duty is part of the fortnightly review undertaken by the government in the special additional excise duty, also known as the windfall tax. The windfall

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Sebi Clarifies No NOC Request from NSE for IPO, Points to Exchange's Delay

Sebi Clarifies No NOC Request from NSE for IPO, Points to Exchange’s Delay

/ Indian Market

The Securities and Exchange Board of India (Sebi) informed the Delhi High Court on Wednesday that the National Stock Exchange (NSE) has not submitted a fresh request for a no-objection certificate (NOC) for its planned Initial Public Offering (IPO). This clarification came in response to a writ petition seeking to expedite the NSE’s IPO process.

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Interarch Building Products Raises Rs 179.5 Crore from Anchor Investors Ahead of IPO Launch on August 19

Interarch Building Products Raises Rs 179.5 Crore from Anchor Investors Ahead of IPO Launch on August 19

/ Indian Market

Interarch Building Products, a leading provider of pre-engineered steel construction solutions, has successfully mobilized Rs 179.5 crore through its anchor book on August 16, ahead of its upcoming Initial Public Offering (IPO) set to open on August 19. Notable institutional investors like ICICI Prudential Mutual Fund, Whiteoak Capital, Mirae Asset, Pinebridge Global Funds, LC Pharos

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Ola Electric Shares Surge 20% on First Buy Rating and Entry into Electric Motorcycles

Ola Electric Shares Surge 20% on First Buy Rating and Entry into Electric Motorcycles

/ Indian Market

Ola Electric Mobility shares surged 20 percent to ₹133 in afternoon trading on August 16, following the first ‘Buy’ rating given by HSBC. This came just after the company’s June quarter earnings were released earlier this week. HSBC set a price target of ₹140, suggesting upside potential of 26 percent over the previous day’s closing

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Hindustan Zinc Shares Drop 8% as Vedanta's Discounted OFS Opens

Hindustan Zinc Shares Drop 8% as Vedanta’s Discounted OFS Opens

/ Indian Market

Hindustan Zinc shares slumped almost 8% in opening trades on August 16 after Vedanta Ltd opened its offer-for-sale, aimed at selling 3.17% stake in the latter. The OFS will happen between August 16-19. It has a base offer of 1.22%, with a possible expansion to 3.17% in case of oversubscription. The shares are being offered

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HAL's Q1 Net Profit Soars 77% to ₹1,437 Crore, Revenue Up 11%

HAL’s Q1 Net Profit Soars 77% to ₹1,437 Crore, Revenue Up 11%

/ Indian Market

Hindustan Aeronautics Ltd has posted strong numbers for the first quarter of FY25, with a consolidated net profit of ₹1,437 crore, up 77% against ₹814 crore in the same quarter last year. Consolidated revenue from operations stood at ₹4,348 crore, up 11% against ₹3,915 crore on a year-over-year basis; its total income was through at

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Sumitomo Mitsui CEO Considers $5 Billion Investment for 51% Stake in Yes Bank

Sumitomo Mitsui CEO Considers $5 Billion Investment for 51% Stake in Yes Bank

/ Indian Market

Akihiro Fukutome, global CEO of Sumitomo Mitsui Banking Corporation, is reportedly visiting India this week to consider picking up a sizeable stake in Yes Bank Ltd. According to a Mint report, SMBC could be looking at an investment of as much as USD 5 billion for a 51% stake in the private sector lender in

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