As many as 48.79 lakh shares of Sedemac Mechatronics Ltd., a recent listing, changed hands in a large transaction that took place on the exchanges on Thursday, September 24. The number of shares that changed hands amount to 11% of the company’s outstanding equity. Shares changed hands at an average price of ₹3,010 per share,…
The initial public offering (IPO) of Gujarat-based iron and steel manufacturer German Green Steel and Power will open for subscription on Friday, September 25. The issue will close on September 29. The company has fixed the price band at ₹132 to ₹139 per equity share and will raise ₹303.9 crore at the upper end of…
Asian markets edged higher on Friday, September 25, even as a global bond selloff and elevated oil prices, which stoked inflation fears, pushed long-term US Treasury yields to their highest levels in decades. This reinforced bets on further US Federal Reserve rate increases. The region’s equities rose over 0.2% in early trade despite the pressure…
Shares of homegrown e-commerce platform Meesho Ltd. will be in focus on Friday, September 25, after global brokerage firm Nomura initiated coverage on the stock with a ‘Reduce’ rating and a price target of ₹167 per share. The target implies a potential downside of 28% from the stock’s last closing level on Thursday. In its…
The initial public offering (IPO) of Orient Cables (India), a Gurugram-headquartered manufacturer of networking cables and passive networking equipment, will open for subscription on Friday, September 25, and close on September 29. Ahead of the issue opening, the company has mobilised ₹165.6 crore from 14 anchor investors. Orient Cables on September 24 allotted 60.88 lakh…
Welspun Corp’s strong order wins support its long-term growth story, says Siddhartha Khemka, Head of Research, Wealth Management at Motilal Oswal Financial Services. But PB Fintech faces a potential business model reset if new insurance rules take effect. What should investors watch next?Disclaimer: The views and tips expressed by investment experts on CNBCTV18.com are their…
Harshal Mehta, Vice President of Equity Research at Asian Markets Securities (AMSEC), said SBI Life and LIC are the best-placed life insurers as India’s Insurance Regulatory and Development Authority of India (IRDAI) moves to cap commissions and expense-of-management (EOM) ratios. He said, “SBI Life, the impact is lower because the commission and OPEX is what…
Chris Wood of Jefferies has made on change to his India long-only portfolio, replacing his 5% investment in ABB India, with an equal investment in Hitachi Energy India. Wood highlighted this change in his “Greed & fear” note on Friday, September 25. Citing the demand representation made by the management of Hitachi Energy India at…
Nitin Aggarwal, Head of BFSI Institutional Equities at Motilal Oswal Financial Services, says India’s proposed insurance distribution rules will move bargaining power away from brokers, agents and distributors and toward insurers themselves. “The balance of power shifts a bit towards the insurers, the manufacturers,” Aggarwal said, adding that intermediaries had built up significant leverage in…
Shares of Vascon Engineers Ltd. gained up to 14% on Friday, September 25, after the company said it received a design and build, GMP contract worth ₹660.79 crore from Qualcomm India. The stock though, has given up most of its gains. The order is for the development of an office facility (Block K), comprising three…
