Indian Market - Lakshmishree News

Shree Tirupati Balajee Agro Trading Company to Launch Rs 170 Crore IPO on September 5

Lisl News Desk / Indian Market / September 2, 2024

Madhya Pradesh-based Shree Tirupati Balajee Agro Trading Company has filed its red herring prospectus (RHP) with SEBI, aiming to raise Rs 169.65 crore through an initial public offering (IPO). The IPO will open for subscription on September 5 and close on September 9, with the anchor book set to open on September 4. The offer […]

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GST Relief on Health Insurance Could Lead to Rs 3,500 Crore Revenue Loss, Warns Government Official

Lisl News Desk / Indian Market / September 2, 2024

A proposal to exempt health insurance policies from the current 18 percent Goods and Services Tax (GST) could result in an annual revenue loss of Rs 3,500 crore, according to a senior official involved in the discussions. This proposal is under consideration by the Fitment Committee ahead of the GST Council’s meeting on September 9.

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Dr Reddy’s Shares Slide After Chinese Regulator Suspends Atomoxetine Hydrochloride Capsule

Lisl News Desk / Indian Market / September 2, 2024

Dr Reddy’s Laboratories saw its shares dip after the National Medical Products Administration of China (NMPA) suspended the import, sale, and use of the company’s Atomoxetine Hydrochloride capsules. By 10:30 AM, the pharma giant’s stock had fallen 1.4 percent to Rs 6,937 on the NSE. The suspension follows a remote inspection conducted by NMPA at

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Gujarat Gas Surges After Board Approves GSPC and GSPL Merger

Lisl News Desk / Indian Market / September 2, 2024

Gujarat Gas is making headlines after its board approved a scheme of arrangement and amalgamation involving Gujarat State Petroleum Corporation (GSPC), GSPC Energy, and Gujarat State Petronet (GSPL) merging into Gujarat Gas. This strategic move has prompted brokerages to revise their target prices upward for the city gas distribution company. As part of the restructuring,

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HDFC Bank Block Deal: 4.69 Crore Shares Sold for Rs 6,997 Crore Amid MSCI Rebalancing

Lisl News Desk / Indian Market / August 30, 2024

HDFC Bank witnessed a major block deal on August 30, where 4.69 crore shares were traded in multiple transactions totaling Rs 6,997 crore. The block deal coincided with the due date for MSCI indices’ August rebalancing, following the global indices provider’s decision to increase HDFC Bank’s Foreign Inclusion Factor (FIF) from 0.37 to 0.56 earlier

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Adani Ports Acquires 80% Stake in Global OSV Operator Astro Offshore for $185 Million

Lisl News Desk / Indian Market / August 30, 2024

Adani Ports and Special Economic Zone Ltd (APSEZ) has announced its acquisition of an 80% stake in Astro Offshore, a global offshore service vehicle (OSV) operator. The deal, valued at $185 million, is an all-cash transaction that gives Astro an enterprise value (EV) of $235 million, with an EV/FY25E EBITDA multiple of 4.4x, according to

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SpiceJet Shares Plummet Nearly 7% Following DGCA’s Enhanced Surveillance Measures

Lisl News Desk / Indian Market / August 30, 2024

SpiceJet’s stock price dropped by almost 7% on August 30 after the Directorate General of Civil Aviation (DGCA) announced that the airline would be placed under enhanced surveillance. The stock opened with a 5.78% loss during Friday’s trading session and fell to an intraday low of Rs 62.01, marking a 6.37% decline. The DGCA’s decision

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Vistara to Operate Last Flight on November 11 Ahead of Air India Merger

Lisl News Desk / Indian Market / August 30, 2024

Vistara announced that it will operate its final flight on November 11, 2024, as the airline prepares to merge with Air India. Following this date, all Vistara aircraft will be integrated into Air India’s operations, with bookings for routes previously served by Vistara redirected to Air India’s website. This would mean that starting September 3,

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Garden Reach Shipbuilders shares zoom as company signs MoU with NHIDCL

Lisl News Desk / Indian Market / August 30, 2024

Garden Reach Shipbuilders & Engineers Ltd. (GRSE) saw its share price rise over 2% in early trading on August 30 following the announcement of a Memorandum of Understanding (MoU) with the National Highway Infrastructure Development Corporation Ltd. (NHIDCL). The MoU is for the fabrication, supply, and launching of Double-Lane Class 70 modular steel and Bailey

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