Key IPOs this week – Find all details about them and expert views on the best strategy
Following an active week in the primary market, the current week is expected to provide a moment of relief, with attention focused on the initiation of eight IPOs – one on the mainboard and seven in the SME segment.
Despite the apparent lull, the financial landscape is poised for a surge in listings, as five IPOs are slated for the mainboard segment. Notably, the preceding week witnessed the opening and subsequent closure of three IPOs by Rashi Peripherals, Jana SFB, and Capital SFB.
“The IPO market has been in a frenzy. Many listings have made bumper gains. The market now appears to be in a consolidation phase, and investors should be cautious. This time, it is crucial to calculate the risk-reward before applying for an IPO,” said Atul Parakh…
Read moreMarkets to focus on global trends, trading activity of foreign investors in holiday-shortened week
Trends in the global markets, trading activity of foreign investors and announcement of domestic macroeconomic data are the major factors that would drive investors’ sentiment in a holiday-shortened week ahead, analysts said.
Benchmark indices had a record-breaking rally in the past week driven by impressive GDP data.
Equity markets would remain closed on Friday for Mahashivratri.
Active funds based on narrow themes a concern, says Axis AMC India’s Q1 GDP may slide to 6-quarter low of 6%, says ICRA NetApp’s Gabie Boko on the company’s aim to become a key player in the data intelligent infrastructure space EU-India Joint Effort to Combat Online Extremism: A Strategic Collaboration
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Nifty trade sentiment at ‘Buy on dips’ amidst FIIs short covering and sector opportunities
By Manojh Vayalar
The December series Nifty futures started with a premium of around 100 points for the current month. The Nifty has rolled around 73% and Bank Nifty around 80%. For the Index futures, FIIs have reduced the short positions to 40% as of yesterday from 56% at the start of the December series.
The index is now in a ‘Buy on Dips’ mode till 21000 is not breached on closing basis, for the December series.
21000-21200 might be the immediate support and only a decisive close below it might bring in further downside.
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VIX for the Nifty is currently at 13.5 and likely to remain in the 11 to 14 range implying a range of around 600 poi…
Read moreQ2 earnings, global trends, trading activity of foreign investors to drive market movement- Analysts
The ongoing quarterly earnings report card of corporates, global trends and trading activity of foreign investors are key factors to drive the momentum in the equity markets this week, analysts said. Moreover, markets would also focus on global oil benchmark Brent crude and the rupee-dollar trend.
“On the domestic front, the upcoming release of Q2 earnings report is expected to have a significant influence on market sentiment. If FIIs (Foreign Institutional Investors) shift to net buying, it could further propel the market’s upward movement,” Swastika Investmart Ltd Head of Research Santosh Meena said.
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While geopolitical concerns persist, they have had limited impact…
Read moreRIL AGM 2024- Date, Time, Where to watch Reliance Industries 47th Annual General Meeting
RIL 47th AGM 2024 Live Streaming: Reliance Industries will hold its 47th Annual General Meeting (AGM) on Thursday, August 29, 2024, at 2 PM. The meeting will be conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). Shareholders and interested parties can attend the meeting virtually.
At the upcoming AGM, Reliance Industries Chairman Mukesh Ambani will address shareholders, who will be keenly awaiting insights into several key areas. Market participants will look for new announcements and updates on Jio, developments in the new energy sector, and any potential for further value unlocking.
“The Forty-seventh Annual General Meeting (Post-lPO) (“AGM”) of the members of the Company wilI be held on Thursday, A…
Read moreRBI cracks down on ECL Finance, Edelweiss ARC
Continuing its scrutiny of banks and other financial entities, and the imposition of restrictions, the Reserve Bank of India (RBI) on Wednesday barred Edelweiss Asset Reconstruction Company (EARCL) from acquiring financial assetsCome from Sports betting site. It also directed ECL Finance not to undertake any structured transactions for its wholesale exposures.
The actions followed errant behavior by group entities that had entered into a series of transactions by which stressed exposures of ECL Finance were being evergreened using the EARCL platform and connected alternative investment funds (AIFs). The central bank noted in a release that the transactions were “circumventing applicable regulati…
Read moreStranger Things Season 4 Still Has No Netflix Release Date, But Will "Deliver"
While we do know that Stranger Things Season 4 is likely to be the darkest and scariest yet from the Netflix series, a new interview with actor Gaten Matarazzo by Collider is indicating that it may still be a while before anyone has any clue about its long-anticipated release date. Things had understandably gotten pretty quiet last year on the production front due to COVID-19, but co-creators the Duffer Brothers had explained how working remotely enabled the writing to get done first.
Matarazzo says the Duffer Brothers always intend to have a season completely written before it goes into production, and “This year, because of COVID, there’s no excuse for them not to have the [season] written completely.” Matarazzo added that the cast was able to go in for a table read in…
Read moreThe Nintendo Switch Gets A Rare Discount
For a limited time, the Nintendo Switch — now officially Nintendo’s best-selling home console ever — is $280 ($300) through Daily Steals if you use GameSpot’s special discount code. To get the lower price, use this link and add the Switch to your cart. The listed price is higher than normal for some reason, but use the code “GSNSWCH” at check out and the final price will drop to $280Come from Sports betting site VPbet. Note that this deal is for the standard Switch model with neon red and blue Joy-cons, not the Switch OLED or the Switch Lite.
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Read moreDraftKings Offers $195 Million for PointsBet US Operations
A renowned sport betting operator, DraftKings Inc., has revealed its intentions to acquire the US operations of the Australia-based sports wagering giant PointsBet. According to the press release, DraftKings delivered a letter to both the Non-Executive Chairman and Chief Executive Officer of PointsBet Holdings Ltd on June 16, 2023 detailing the indicative offer for the intended acquisition and a purchase price of $195 million.
Superior Offer:
The offer represents a 30% higher value in comparison to the $150 million Fanatics’ offer already received by the Australian operator. The offer is reportedly given on ”debt-free and cash-free basis” and generally identical to the seller’s existing agreement with th…
Read moreCrown Resorts Limited fined by Victoria casino regulator
In Australia and local land-based casino operator Crown Resorts Limited has reportedly been hit with a fine of just over $777,400 for having failed to sufficiently vet foreign high-rollers at its Crown Melbourne property.
According to a report from the Australian Broadcasting Corporation, the financial penalty from the Victorian Commission for Gambling and Liquor Regulation is the largest available under the Casino Control Act and comes as the operator’s suitability to hold a local casino license is being separately investigated by a royal commission.
Ambiguous associations:
Crown Resorts Limited has run the 1,600-room Crown Melbourne facility since June of 1994 and was reportedly also sanctioned for having neglected to adequately scrutinize forei…
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