Welcome to Yashmandar Investments

Yashmandar Investments is a niche boutique Tax & Investment Management Company with an extremely strong focus on client relationship. The team at Yashmandar Investments Advisory Board has seven years of proven track record in Tax Planning, Financial Services, Equity Advisory and Investment Advisory domain and brings with it strong research and investment advisory capabilities keeping in mind the regulatory framework and the volatility in the investment climate. We offer a progressive planning practice that differentiates itself by being disciplined, well researched and profitable. We are a privately owned company and therefore core decisions regarding our processes and practices start at grassroots, ensuring all angles are covered in the decision making process. It is our belief that by providing a personalized and consistent service experience, we ensure long and fruitful relationships with our clients. In the true spirit of our commitment, we conduct open discussions to seek first to understand what is important to the client and then to be understood when finding so...Read More

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Ola Electric to kick off investor meet on IPO plans: Report

Indian electric scooter maker Ola Electric is kicking off meetings with potential investors in Singapore and the US to gauge interest in its planned $1bn initial public offering. The fundraising drive, expected in late 2023, will target $600m to $1bn. CEO Bhavish Aggarwal will hold talks including with BlackRock, Singapore's GIC, and T Rowe Price. Though Ola is yet to file regulatory papers for approval, it is thought to be planning to do so by August. It wants to explain the growth and potential of India's nascent electric vehicle market to investors.

2023-06-09T20:49:42+05:30

Logistics company Western Carriers files draft papers with Sebi for IPO

Western Carriers, a logistics service provider with over 50 years of experience, has filed draft papers for an initial public offering (IPO) to raise funds through a fresh equity issue of up to Rs 500 crore and an offer for sale of 93.28 lakh shares by the promoter. The company operates on an asset-light business model and provides 3PL and 4PL logistic solutions. It had over 1,100 clients in sectors such as metals and mining, FMCG, pharmaceuticals, among others. The IPO funds will be used for prepaying a portion of certain outstanding borrowings and funding capital expenditure requirements.

2023-06-09T15:55:42+05:30

HMA Agro Industries IPO: 10 things to know about the public offer

HMA Agro Industries, a leading exporter of frozen buffalo meat in India, is set to launch its Rs 480 crore ($72m) initial share sale which opens on 20 June and closes on 23 June. The public offer comprises a fresh issue of equity shares up to Rs 150 crore and an offer for sale of Rs 330 crore by promoters and selling shareholders. The price band for the public offer has been set at Rs 555-585 per equity share, the upper end of which values the company at Rs 2,929 crore.

2023-06-09T15:38:25+05:30

IKIO Lighting IPO: GMP signals listing gains for investors after robust subscription

IKIO Lighting, which had an initial public offering (IPO) worth Rs 607 crore ($81.2 million), has received a healthy response from investors. The IPO was subscribed 397 times with bids for 100,92,76,892 shares against 1,52,24,074 shares on offer. The qualified institutional buyers (QIBs) category was subscribed 163.58 times, accompanied by non-institutional investors with 63.35 times, and the retail investors' quota recording a 13.86 times subscription. The net proceeds from the public offering will be used to repay borrowings, invest in its subsidiary, IKIO Solutions, and other corporate purposes.

2023-06-09T15:03:36+05:30

Ikio Lighting IPO subscribed 66 times

The portion reserved for qualified institutional investors was subscribed 164 times, while the portion for non-institutional investors, or high-net-worth individuals, was subscribed 63 times. The retail portion was subscribed 14 times.

2023-06-09T05:55:40+05:30

Urban Enviro Waste Management to launch IPO on June 12

Urban Enviro Waste Management, the waste handling and management services provider, has announced an Initial Public Offering (IPO) to raise INR11.42 crore ($1.6m). The sale opens on 12 June and closes on 14 June with shares due to be listed on NSE EMERGE, a platform for small and medium-sized enterprises. The sale consists of a fresh issue of 920,000 equity shares with a face value of INR10 each, aggregating to INR9.2 crore; and an offer for sale component of 222,000 equity shares. The net proceeds will be used for repaying certain secured borrowings, and other purposes.

2023-06-08T15:52:53+05:30

Valiant Laboratories files draft papers with Sebi to mop-up funds via IPO

Valiant Laboratories is an Active Pharmaceutical Ingredient (API) or bulk drug manufacturing company with its focus on manufacturing Paracetamol, which is used in the treatment of headache, muscle ache, arthritis, back ache, toothache, cold and fever.

2023-06-08T15:47:17+05:30

SME IPO Tracker: Infollion Research Services more than doubles investors' wealth on listing day

Infollion Research Services stocks made an exceptional debut on NSE Emerge platform with shares listed at Rs 209, a premium of 155% as compared to its issue price of Rs 82. The shares then fell by 13% to Rs 198.55. The public offer of the company was subscribed 279 times at close, with non-institutional investors contributing 560 times bids and retail investors' portion subscribed 264 times. The company will use the raised funds for expanding its current service line in the US and Western European region, adding categories of freelancer and technology development.

2023-06-08T15:16:28+05:30

HMA Agro Industries IPO to open on June 20; price band fixed

HMA Agro Industries' initial public offering (IPO) worth INR 480 crore ($63.5m) will be open for public subscription from 20-23 June with a price band of INR 555-585 per share. The IPO includes an offer for sale of INR 330 crore by promoters and selling shareholders. Aryaman Financial Services is the book-running lead manager to the issue and Bigshare Services is the registrar. HMA Agro Industries proposes to utilise the net proceeds of the fresh issue for working capital requirements and general corporate purposes.

2023-06-08T14:12:26+05:30

IKIO Lighting IPO: Issue subscribed 67 times on last day of bidding process

IKIO Lighting's Rs 607 crore initial public offering (IPO) has been oversubscribed 11.46 times on strong demand from non-institutional investors. The company has set a price band of Rs 270-285 per equity share with a minimum bid of 52 shares. The issue comprises a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The grey market premium of the company has been on an upward trend and its shares are commanding a premium of Rs 118 in the unlisted market.

2023-06-08T13:29:30+05:30

IKIO Lighting IPO: Issue subscribed 6.83 times so far on Day 2; GMP rises further

The IPO of IKIO Lighting, which closes on June 8, has been subscribed 6.83 times so far, with non-institutional investors leading the heavy bidding. The company's shares are commanding a premium of Rs 118 in the grey market, with listing gains looking increasingly likely.

2023-06-07T14:40:20+05:30

Valiant Laboratories files IPO papers

Valiant Laboratories Ltd, the subsidiary of Valiant Organics said it has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with stock market regulator Sebi.

2023-06-07T13:16:53+05:30

Tata Technologies IPO: When to expect and what its unlisted price is indicating?

Tata Technologies, a unit of Tata Motors, is expected to list its IPO in five to six months. In the unlisted market, shares are trading at around Rs 850. Analysts expect the stock to list at a premium and currently predict a bump of between 20% and 30%.

2023-06-06T18:30:25+05:30

Spectrum Talent Management IPO to open on Jun 9; to list on NSE Emerge

The price band for the issue has been set at Rs 169 to Rs 173 per share, and the IPO size is estimated to be about Rs 105.14 crore at the upper price band. Proceeds from the IPO will be utilised to support the company's working capital requirements, acquisitions of businesses in similar or complementary areas, general corporate purposes and meeting its issue expenses.

2023-06-06T18:03:58+05:30

IKIO Lighting IPO sails through on Day 1 on HNI, retail push

The issue, which closes on June 8, comprises a fresh equity issue of up to Rs 350 crore and an offer for sale (OFS) of up to 90 lakh shares. The company has set a price band of Rs 270-285 per unit and investors can bid for a minimum of 52 shares in one lot and multiples thereafter. At the upper end, the company plans to raise about Rs 607 crore.

2023-06-06T13:58:01+05:30

IKIO Lighting IPO opens for subscription. Should you bid?

IKIO Lighting designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands. The company is largely into manufacturing premium products. Its products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and others.

2023-06-06T09:33:11+05:30

Ikio Lighting raises Rs 182 cr from anchors

The company informed the bourses that it allocated 63.8 million shares at â‚¹285 per share on Monday to anchor investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs AMC, Malabar India Fund, Mirae Asset Global, among others. The company has fixed the price band for the public issue at â‚¹270 to â‚¹285 per share.

2023-06-06T06:13:52+05:30

Canara Bank starts process to sell non-core assets via IPOs

The public sector bank, which wants to monetise its non-core assets, held consultations with investment bankers recently to carry out the proposed stake sale, said the people aware of the developments.

2023-06-06T05:53:53+05:30

SME IPO: Hemant Surgicals turns multibagger on listing day with 100% gain

Hemant Surgicals made a strong debut on the BSE SME platform with its shares being listed at a 90% premium over its issue price of Rs 90. The stock closed at Rs 179.55, a nearly 100% increase over the offer price. The company's Rs 24.8 crore public offer was oversubscribed by 139 times.

2023-06-05T23:50:08+05:30

SME IPO tracker: IT company Vinsys files draft papers for listing on NSE Emerge

Pune-based IT services firm Vinsys IT plans to use the book-building process to float 3.89 million equity shares of Rs 10 each, and will appoint merchant bankers to the issue.

2023-06-05T23:37:16+05:30

SME IPO: Sonalis Consumer Products public issue opens on June 7. Here are 10 things to know

Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.

2023-06-05T16:06:39+05:30

IKIO Lighting IPO: GMP shoots up ahead of subscription on Tuesday

Noida-based company IKIO Lighting's Rs 607 crore initial public offering (IPO) will open for subscription on 1 June and close on 8 June. The company's stock is commanding a premium of Rs 92-94 in the unlisted market, indicating the demand for the shares, according to market sources. Grey market premiums are subject to change. The IPO consists of a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The net proceeds will go towards general corporate purposes, investment in subsidiary IKIO Solutions, repaying borrowings, and setting up a new facility in Noida.

2023-06-05T15:15:09+05:30

BYJU'S Aakash to launch IPO next year

BYJU'S, the leading edtech company, will launch the Initial Public Offering (IPO) for its subsidiary Aakash Education Services by mid-next year. AESL is expected to earn revenue of Rs 4,000 crores with operational profits of Rs 900 crores in FY23-24. The IPO will provide significant capital infusion to enhance Aakash's infrastructure and reach, extending high-quality test-prep education to a larger number of students.

2023-06-05T13:39:28+05:30

Ikio Lighting's core strengths, growth drivers offer a good long-term play

Long-term investors may consider the IPO given the consistent growth in its contract manufacturing for Signify India (erstwhile Philips India) driven by new product development, strong position in customised lighting solutions in the growing segment of branded retail stores, superior operating margin than its peers, and emerging growth opportunities from exports by supplying lighting products for recreational vehicles in the US.

2023-06-05T06:25:07+05:30

Nuvama exits its first pre-IPO fund; invests in Ozone Overseas

Nuvama PE is currently investing from its third late-stage/pre-IPO fund under the Crossover Opportunities banner. This fund has so far raised â‚¹3,800 crore. The latest crossover fund has invested in companies such as Ola Electric and DailyHunt.

2023-06-05T05:56:16+05:30

IKIO Lighting and Sonalis Consumer Products IPO will open for subscription this week; check details

IKIO Lighting has set a price band of Rs 270-285 per equity share for its upcoming IPO. The Noida-based company has reserved 50% of the offering for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The IPO comprises a fresh equity issue of up to Rs 350 crore and offer for sale of up to 90 lakh shares by selling shareholders. Meanwhile, Sonalis Consumer Products is set to launch an SME IPO on June 7 with a fixed price of Rs 30 per equity share.

2023-06-04T14:44:12+05:30

SME IPO: Kore Digital issue opens for subscription. 8 key things to know

Maharashtra-based passive telecom infrastructure provider, Kore Digital's initial share sale opened on Friday with a price band of INR 180. This IPO is a fresh issue of up to 10 lakh equity shares of face value INR 10 each, aiming to raise around INR 18 crore. The net proceeds will be used to meet working capital requirements, investment in strategic acquisition, and other general corporate expenses. The allotment will be on June 12th and the shares will be listed on NSE Emerge on June 15th.

2023-06-02T21:08:16+05:30

IKIO Lighting IPO: 10 things to know about the public offer

Indian LED lighting solutions manufacturer IKIO Lighting is launching its initial public offering (IPO) June 6-8, with shares expected to start trading on June 16. The company's shares will likely be listed at between INR270 ($3.81) and INR285 per equity share, with the upper end of that range raising INR607 crore for the company. The IPO will include a fresh equity issue of up to INR350 crore and an offer for sale of up to 9 million shares. The proceeds will be used to repay borrowings, invest in subsidiary IKIO Solutions and for general corporate purposes.

2023-06-02T17:04:58+05:30

IKIO Lighting's Rs 607-crore IPO to open on June 6

Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.

2023-06-02T06:01:12+05:30

IKIO Lighting IPO to open on June 6; price band fixed at Rs 270-285 per share

Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

2023-06-01T13:27:29+05:30

SME IPO tracker: Infollion Research offer subscribed 5.68 times; CFF Fluid Control issue subscribed 54% so far

Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.

2023-05-30T17:30:14+05:30

SME IPO: CFF Fluid Control issue to open for subscription on Tuesday. 10 things to know about the issue

CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.

2023-05-29T16:41:49+05:30

Krishca Strapping Solutions lists at 120% premium

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around â‚¹18 crore through the IPO, which was subscribed 244.92 times.

2023-05-27T07:54:08+05:30

SME IPO: Crayons Advertising subscribed 147 times, listing on June 2

Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.

2023-05-26T17:01:06+05:30

Happy Forgings plans up to Rs 1,200 crore IPO

Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.

2023-05-26T06:11:11+05:30

Ola Electric plans up to $1b IPO at $10b valuation

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didnâ€™t respond to the queries, while ICICI Securitiesâ€™ spokesperson declined to comment

2023-05-25T17:47:29+05:30

SME IPO: Infollion Research Services' public issue opens on May 29. Top 10 things to know

Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.

2023-05-25T16:13:04+05:30

Ola Electric aims for IPO by 2023-end, hires Goldman, Kotak: Report

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.

2023-05-25T14:18:04+05:30

SME IPO tracker: Hemant Surgical Industries issue subscribed 2.45 times; Proventus Agrocom's offer subscribed 4% so far on Day 1

The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.

2023-05-24T17:52:22+05:30

SME IPO Tracker: Vasa Denticity gets muted response on Day 1; Auro Impex and Chemicals sees flat listing

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.

2023-05-23T19:02:27+05:30

Pune-based IT firm Vinsys completes pre-IPO round at Rs 200 cr valuation

Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.

2023-05-22T16:50:30+05:30

SME IPO: Crayons Advertising public offer fully subscribed within hours of opening on Day 1

Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.

2023-05-22T15:08:51+05:30

ECGC IPO likely to be pushed to next fiscal amid volatility

The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.

2023-05-21T08:16:08+05:30

DRHP filing for IREDA listing likely in 6 months

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.

2023-05-19T23:17:16+05:30

SME IPO: Hemant Surgical issue to open on May 24. 10 things to know about the offer

Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements

2023-05-19T15:05:38+05:30

Vasa Denticity SME IPO: 10 things to know about the public offer

Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'

2023-05-18T21:41:00+05:30

Nexus Select Trust REIT IPO listing likely on Friday. What to expect

Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.

2023-05-18T15:41:14+05:30

Crayons Advertising SME IPO: 10 things you must know before investing

Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.

2023-05-18T12:46:22+05:30

Manyavar promoters to launch OFS

The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.

2023-05-18T06:49:56+05:30

SME IPO: Remus Pharmaceuticals gets muted response on Day 1. 8 key things to know about the issue

Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from

2023-05-17T21:40:54+05:30

LIC raises stake in SAIL to 8.6%

Life Insurance Corporation of India (LIC) has raised its stake in state-owned steel production firm SAIL by about 2 per cent through an open market acquisition. LIC bought 8.26 crore shares or 2.001 per cent of equity capital at an average price of Rs 66.18 per unit, the insurer said in a regulatory filing

2023-06-09T21:28:57+05:30

Sebi cancels registration of Emkay Commotrade in NSEL case

The Securities and Exchange Board of India (SEBI) has cancelled the registration of Emkay Commotrade for giving access to illegal 'paired contracts' on the defunct National Spot Exchange (NSEL). SEBI said it raised doubts on the company's competency to act as a registered securities market intermediary and that the company cannot be called a 'fit and proper person' for holding the certificate of registration. The NSEL's 'paired contracts' trading scheme saw investors incur a loss of INR 5,500 crore ($736.8m). Emkay's clients must withdraw or transfer their securities or funds within the next 15 days.

2023-06-09T20:54:04+05:30

Ola Electric to kick off investor meet on IPO plans: Report

2023-06-09T20:49:42+05:30

Tesla jumps as GM deal makes its charging network closer to US standard

Shares of Tesla jumped nearly 7% following a partnership between General Motors (GM) and Ford to use Tesla's electric-vehicle charging network, which could make Tesla Superchargers a new industry standard in the US. This move ensures that the country's EV market can access Tesla's North American Charging Standard (NACS), which presents a big win for the rare partnership, making it the primary network in the country. The tie-up will increase the pressure on other automakers to upgrade their networks to work with Tesla's. Tesla's charging network is more widespread and reliable than the alternative combined charging system.

2023-06-09T20:36:47+05:30

Path Towards Economic Normalcy: Assessing the impact of inflation, central bank policies

Despite global economic activity slowing down, the absence of any significant financial accidents, robust employment conditions, and stronger balance sheets have aided in withstanding the normalisation cycle better than expected. However, the pressure on demand conditions may continue to rise due to higher nominal yield curves and tightened lending standards. Although corporate earnings have surpassed expectations, inflation will likely remain elevated compared to pre-Covid levels. The worst of the inflation scare may be over, but central banks are unlikely to resort to rate cuts unless there is a threat to financial stability. RBI's proactive stance has supported India's growth momentum, but fiscal deficit run rate is 6%, and pre-emptive loosening can backfire, resulting in higher inflation. Thus, rates may remain higher for longer, and short-term funds may provide healthier accruals without taking significant duration risk.

2023-06-09T20:06:29+05:30

10 best tax-saving equity mutual funds with highest returns

Equity-linked saving schemes offer tax benefits under Section 80C of the Income Tax Act. Equity mutual funds have a lock-in period of 3 years and gains are taxed at 15% for less than a year. The top five tax-saving mutual funds on the basis of returns for 3 years are Quant Tax Plan (33.04%), BOI AXA Tax Advantage (23.75%), Mirae Asset Tax Saver Fund (20.04%), Canara Robeco Equity Tax Saver (19.84%), and IDFC Tax Advantage (ELSS) (18.89%). For 5 years, the top five funds are Quant Tax Plan (22.50%), BOI AXA Tax Advantage (18.26%), Mirae Asset Tax Saver Fund (18.22%), Canara Robeco Equity Tax Saver (17.26%), and IDFC Tax Advantage (ELSS) (16.24%).

2023-06-09T19:52:22+05:30

Canada Pension fund sells 1.6% stake in Kotak Mahindra Bank for Rs 6,123 crore

The deal was executed at a weighted average price of Rs 1,855.64 and Canada Pension fund took home Rs 6,123 crore through the stake sale. As of March quarter, Canada Pension fund holds 4.6% stake. With the sale of the latest stake, the holding of Canada Pension fund came down to 3%.

2023-06-09T19:43:38+05:30

Upcoming monsoon critical for broad-based recovery in Indian equities. Which stocks to bet on?

Axis Securities predicts that macroeconomic scenarios will dictate the market in the upcoming months, with rural and domestic-focused themes expected to gain momentum. It has revised the December 2023 Nifty target upwards to 20,200, indicating an upside of 9-10% from the current level. Axis Securities recommended investors maintain liquidity, awaiting the market dips to build a position in quality companies with high earnings visibility. Midcaps are identified as growth sweet spots, while small caps are bottom-up plays. In the year-to-date, both foreign and domestic investors have been net buyers in the Indian equity market.

2023-06-09T19:41:25+05:30

Promoter sells 13.7% in CMS Info Systems via bulk deal; ADIA, Norges Bank, 3 domestic MFs pick up stake

Singapore-based Sion Investment Holdings has sold a nearly 13.7% stake in CMS Info Systems, which has been purchased by Abu Dhabi Investment Authority and Norges Bank, picking up 1.29% and 1.69% of the stake, respectively. Meanwhile, three domestic fund houses â€“ SBI Mutual Fund, 360 One Mutual Fund, and IIFL Mutual Fund â€“ have added stakes in CMS Info Systems. Public stakeholders include mutual funds, which have a 10.02% stake, while foreign investors have a 12.94% stake.

2023-06-09T19:37:38+05:30

CPPIB sells 1.66% stake in Kotak Mahindra Bank for Rs 6,123 cr

Canada Pension Plan Investment Board on Friday divested around 1.7 per cent stake in private lender Kotak Mahindra Bank for Rs 6,123 crore through an open market transaction. According to the bulk deal data available with the BSE, Canada Pension Plan Investment Board (CPPIB) offloaded 3.30 crore shares, amounting to a 1.66 per cent stake in Kotak Mahindra Bank

2023-06-09T19:25:21+05:30

US stocks open higher on Tesla boost, Fed meet in focus

The Dow Jones Industrial Average rose 18.83 points, or 0.06%, at the open to 33,852.44.

2023-06-09T19:09:02+05:30

ETMarket Watch: Sensex, Nifty fall for 2nd straight session; all eyes on Fed meet

2023-06-09T18:58:07+05:30

Could Fed hike rates again? What Ridham Desai said about rate hike cycle, US market & more

2023-06-09T18:52:40+05:30

Up 181% in 1 year! Multibagger stock declares 1:2 share split and 1:1 bonus issue

Maan Aluminium has approved a 1:2 equity share split, which is intended to increase the stock's liquidity. The Board of the Indian company has also approved a 1:1 bonus issue of equity shares to existing shareholders, subject to approval at the annual general meeting. Bonus shares will be fully paid additional shares and issued to shareholders in proportion to the number of shares they already own, increasing liquidity and lowering the stock's price to make it more affordable to investors. The company produces aluminium for several industries and its share price has nearly tripled investors' wealth in the last year.

2023-06-09T18:38:33+05:30

These 9 midcap stocks touch their new 52-week high, gaining upto 30% in a month

2023-06-09T18:15:29+05:30

Raking in the Moolah! India's richie rich investors to grow leaps & bounds

India's ultra-high net worth individuals (UHNWIs), with a net worth of over $30 million, are estimated to rise by 58.4% in five years

2023-06-09T17:50:34+05:30

Beware! NSE cautions investors against those misusing Zerodha, Angel One names

The National Stock Exchange (NSE) of India has warned investors against individuals collecting funds as Angel One Industry and Zerodha Industry, promising assured returns on investments. These entities are not registered members of the exchange. Exchanges caution investors of unregistered trading firms and advisors who guarantee returns. SEBI has recently taken steps to check illegal practices of advisory in the market, due to the rise of individual financial and investment advisors termed as "finfluencers". Last month, a well-known YouTube finfluencer was ordered to pay settlement and disgorgement fees for violating investment advisor regulations.

2023-06-09T17:48:19+05:30

Tech View: Nifty forms make-or-break support at 18389. What should traders do next week

The negative trend in the Nifty is indicated by bearish divergences in RSI and MACD, with immediate support placed around the 18450 levels but resistance found at the 18750 levels. The index is retracing its prior rise from 18060 â€“ 18777, but a negative divergence needs to be confirmed before a negative outlook is established. The monthly expiry contract of the 18600 put option indicates traders are confident of a close-by bottom despite the current small profit booking phase, while Nifty's make-or-break support is at 18389.

2023-06-09T17:41:50+05:30

Stock market update: Mining stocks down as market falls

The 30-share BSE Sensex closed down 223.01 points at 62625.63

2023-06-09T17:28:23+05:30

Stock market update: Nifty Realty index advances 0.04%

The Nifty Realty index closed 0.04 per cent up at 498.45.

2023-06-09T17:23:11+05:30

Growth concerns! Macquaire downgrades HDFC Life, I-Pru Life, SBI Life despite valuation comfort

Analysts are sceptical about the growth prospects of the insurance sector, despite lucrative valuations. The sector has underperformed the benchmark Nifty by 13% in the past 12 months, leading Macquarie to downgrade HDFC Life, ICICI Prudential Life and SBI Life to "Neutral" from "Outperform". The bank has also cut its FY25E value of new business estimates by 2-6% and target prices by 15-17%. Macquarie has forecast a lower value of new business CAGR at 9-15% for FY23-26E against 16-22% for FY22-25E.

2023-06-09T17:21:27+05:30

Stock market update: Fertilisers stocks down as market falls

The 30-share BSE Sensex closed down 223.01 points at 62625.63

2023-06-09T17:17:58+05:30

Stock market update: Nifty Auto index falls 0.45%

The Nifty Auto index closed 0.45 per cent down at 14626.0.

2023-06-09T17:12:42+05:30

Stock market update: FMCG stocks down as market falls

The 30-share BSE Sensex closed down 223.01 points at 62625.63

2023-06-09T17:02:24+05:30

Gainers and Losers: IndusInd Bank, Paytm among 5 stocks in spotlight on Friday

While the Sensex closed at 62,626, down by 223 points or 0.35%, the broader Nifty50 settled at 18,563, down by 71 points or 0.38%

2023-06-09T16:58:10+05:30

Stock market update: Nifty Pharma index falls 0.39%

The Nifty Pharma index closed 0.39 per cent down at 12861.05.

2023-06-09T16:57:03+05:30

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Greenlam Ind, Dynamic Cables, Jindal Drilling, Federal Mogul and V-Marc India, hit their fresh 52-week highs during the day.

2023-06-09T16:51:53+05:30

Sensex falls! These stocks fell 5% or more in Friday's session

In the Nifty pack, 15 stocks closed in the green, while 34 stocks ended in the red.

2023-06-09T16:46:41+05:30

Share market update: Most active stocks in today's market in terms of volume

The NSE Nifty index closed 71.15 points down at 18563.4

2023-06-09T16:41:29+05:30

Stock market update: Power stocks down as market falls

The 30-share BSE Sensex closed down 223.01 points at 62625.63

2023-06-09T16:36:18+05:30

Gold jumps Rs 440; silver rallies Rs 1,050

Gold prices edged higher in the Asian trading hours on Friday, with spot gold prices in the Delhi markets trading at Rs 60,820/10 grams, up Rs 440 per 10 grams," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.In the overseas markets, both gold and silver were trading higher at USD 1,964 per ounce and USD 24.35 per ounce, respectively

2023-06-09T16:35:22+05:30

Stock market update: Nifty Bank index falls 0.01%

The Nifty Bank index closed 0.01 per cent down at 43989.0.

2023-06-09T16:26:03+05:30

Share market update: Most active stocks of the day in terms of traded value

The NSE Nifty index closed 71.15 points down at 18563.4

2023-06-09T16:20:51+05:30

Stock market update: Sugar stocks up as market falls

The 30-share BSE Sensex closed down 223.01 points at 62625.63

2023-06-09T16:10:36+05:30

Stock market update: Nifty IT index falls 0.82%

The Nifty IT index closed 0.82 per cent down at 28355.35.

2023-06-09T16:05:23+05:30

Sensex falls for 2nd straight day, ends 223 pts lower; Nifty below 18,600

2023-06-09T16:03:38+05:30

Stock market update: Stocks that hit 52-week lows on NSE in today's trade

Hero MotoCorp, Eicher Motors, HDFC Life, Divis Labs and Tata Steel were among the top losers on NSE in today's trade.

2023-06-09T16:00:10+05:30

What is the fund switching or scheme switching criteria for NPS: Anant Ladha answers

As such there is no switch, you just have to ensure that whatever amount which you have invested in last 12 months, there might be an exit load which is applicable which is usually 1%. So, this is one point which you have to take care. Other than this, there are no charges.

2023-06-09T16:00:00+05:30

Logistics company Western Carriers files draft papers with Sebi for IPO

2023-06-09T15:55:42+05:30

Rupee rises 4 paise to close at 82.47 against US dollar

The rupee gained 4 paise to close at 82.47 against the dollar amid foreign fund inflows, though a strong dollar and weak domestic equities limited gains. The rupee opened at 82.49 and hit a low of 82.50 through the day. The RBI left interest rates unchanged at 6.5% on Thursday, while foreign institutional investors were buyers in capital markets, purchasing shares worth Rs 212.40 crore, according to exchange data. Meanwhile, Brent crude futures rose 0.38% to $76.25 per barrel, while the dollar index rose 0.19% to 103.54.

2023-06-09T15:55:07+05:30

Sensex, Nifty fall for 2nd straight session; all eyes on Fed meet outcome

The market capitalisation of all listed companies on BSE declined by Rs 73,059 crore to Rs 286.72 lakh crore. The market breadth was skewed in the favour of the bears. About 1,796 stocks declined, 1,739 gained, and 113 remained unchanged on the BSE.

2023-06-09T15:52:53+05:30

HMA Agro Industries IPO: 10 things to know about the public offer

2023-06-09T15:38:25+05:30

5 most & 5 least-loved mutual funds of FY23

2023-06-09T15:25:23+05:30

Gold Rate Today: Gold prices in India trade flat. Check price of yellow metal in Delhi, Ahmedabad and other Indian cities

Gold trade remained flat at Rs 59,895 per 10 grams on Friday ahead of next week's Federal Reserve's Federal Open Market Committee meeting. The traders are holding back bets on the yellow metal as it might further become volatile. Meanwhile, silver futures were seen trading up by 0.50% at Rs 74,036 per kg. The gold futures, in MCX, recorded a decline of 0.51% or Rs 307 per 10 grams in June and were up 6.13% or Rs 4,257 annually. Silver futures also gained nearly Rs 1,568 or 2.17% in June.

2023-06-09T15:22:50+05:30

IKIO Lighting IPO: GMP signals listing gains for investors after robust subscription

2023-06-09T15:03:36+05:30

Navigating yuanâ€™s weakness in India-China trade

The relationship between India and China has been progressing economically, despite tensions over border issues. However, the Chinese yuan has fallen to a six-month low due to economic slowdowns and the emergence of a new COVID-19 variant. Meanwhile, India's economic data has been encouraging, with manufacturing and service in expansionary modes, and the rupee performing consistently. While India's dependence on Chinese imports remains high, a weaker yuan benefits Indian importers, yet erodes profit margins for exporters. Overall, the CNYINR pair is expected to move southward toward 11.20 levels in the upcoming weeks.

2023-06-09T14:59:55+05:30

ICICI Lombard shares drop 2.94% as Sensex falls