A China-focused gold exchange-traded fund (ETF) has become the country’s largest ETF by market value, overtaking a fund tracking the CSI 300 index, as investors shift towards defensive assets while state-backed support for the stock market declines. The Huaan Yifu Gold ETF has a market capitalisation of 90 billion yuan ($13 billion), surpassing the Huatai-PineBridge…
Ather Energy Ltd. is planning a share sale to institutional investors as early as next week to raise as much as $200 million, according to people familiar with the matter. The electric two-wheeler maker has appointed HSBC Holdings Plc, Axis Capital Ltd. and Nomura Holdings Inc. to manage the qualified institutional placement, the people said,…
Shares of Cupid Ltd. rose as much as 7% on Monday, July 6, after a large block deal worth ₹127.5 crore was executed in the counter. Exchange data showed that around 60.8 lakh shares, representing nearly 2.3% of the company’s outstanding equity, changed hands in the transaction. The identities of the buyer and seller were…
Shares of GK Energy gained close to 4% on Monday, July 6, after securing a ₹235.92 crore order from the Maharashtra State Electricity Distribution Company Ltd (MSEDCL) to deploy 10,000 off-grid DC solar-powered water pumping systems across Maharashtra under the Magel Tyala Saur Krushi Pump Yojana. The order covers the design, manufacture, supply, transportation, installation,…
Shares of Kirloskar Oil Engines Ltd., which have surged over 26% in the past month, have an upside potential of another 26%, as per brokerage firm Jefferies. The stock gained up to 6% on Monday, snapping a six-day losing streak in the process. Jefferies initiated coverage on Kirloskar Oil Engines, with a “buy” recommendation on,…
The Indian transformer industry is unlikely to face any meaningful threat from the government’s two-year exemption for four Chinese manufacturers, with both industry and analysts saying strong domestic demand and limited Chinese capacity will keep competitive pressure in check. Satyen Mamtora, MD & CEO of Transformers and Rectifiers (India) Limited (TRIL), said the company does…
The investment firm has an outperform rating on ASML. It raised its price target on US-listed shares to $2,623 from $1,971, implying 48% upside from Thursday’s close. ASML’s lithographic manufacturing technology could gain traction in part of the artificial intelligence industry, meaning the stock could see strong returns in the near future, according to Bernstein….
The National Stock Exchange (NSE) is moving closer to its long-awaited public listing, with preparations underway for a potential IPO launch in September, according to sources aware of the development. The issue is expected to raise ₹30,000–32,000 crore, valuing the exchange at around ₹5-5.3 lakh crore, making it one of the biggest IPOs in India’s…
Online furniture and home appliances rental platform Rentomojo has received observations from the Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO), clearing the way for the company to launch the public issue, subject to market conditions. The proposed IPO comprises a fresh issue of equity shares aggregating up to…
Shares of Trent Ltd will be in focus on Tuesday after the Tata Group retailer reported a 19% year-on-year increase in standalone revenue for the June quarter, supported by continued expansion across its Westside and Zudio formats. Standalone revenue from operations, excluding GST, rose to ₹5,666 crore in the first quarter of FY27 from ₹4,781…
