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Business Standard

Investors subscribe Arkade Developers' IPO 29.42 times offer size on day 3

The initial public offer of Arkade Developers got subscribed 29.42 times on Wednesday, day three of the share sale. The Rs 410-crore initial share sale received bids for 69,94,46,440 shares against 2,37,75,719 shares on offer, according to NSE data. The quota for non-institutional investors garnered 58.80 times subscription while the Retail Individual Investors (RIIs) part got subscribed 33.26 times. The portion for Qualified Institutional Buyers (QIBs) received 61 per cent subscription. The initial public offer of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription. Realty firm Arkade Developers Ltd has raised Rs 122.40 crore from anchor investors. The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore initial public offering. The initial share sale will conclude on September 19. The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale

Business Line

Himadri Speciality Chemical expects to commission Odisha plant in FY27

Plans 2 more plants for lithium iron phosphate

The Economic Times

P&G India's upbeat take: Green shoots visible, demand to bounce back soon

Procter & Gamble Hygiene and Health Care Ltd (PGHHC) sees positive trends in rural and urban consumption, with inflation softening. The company plans to cater to both markets through various retail channels. PGHHC is also leveraging data and digital transformation to optimize inventory and sales. The firm anticipates continued growth despite some near-term challenges.

Business Line

Shriram group believes ‘retail ARC’ is a blue ocean, kicks-off with ₹300-cr investment

Awaiting final approval from the RBI

Business Standard

India's home & household market to reach $237 bn by 2030: Deloitte

India's home and household market is expected to reach USD 237 billion by 2030 at a compounded annual growth rate (CAGR) of over 10 per cent, fuelled by increasing disposable income, shifting consumer preferences and a growing focus on comfort and convenience across product categories, according to a report by Deloitte. The report, Powering Consumption Growth-India's Home and House Market, launched at the two-day event MAPIC India 2024, which began here on Wednesday, also said that the home and household market are witnessing strong demand, particularly in tier 2 and tier 3 cities that are emerging as growth hubs. It also said that omnichannel retail and e-commerce are helping businesses connect with consumers, expanding their reach beyond urban centres. Stating that factors such as high disposable incomes, the rise of digital platforms, easy access to credit, and young consumers seeking modern designs, home renovations and personalisation, which provide tailored offerings to ...

Business Line

AB InBev India joins ONDC network; to support 5,000 micro-sellers by 2030

This programme addresses challenges faced by micro-enterprises, particularly those in the food processing, retail distribution, and allied sectors

Business Standard

Govt mulling lifting ban on non-basmati rice export: Food Secretary

The government is mulling lifting the ban on export of certain varieties of non-basmati rice, Food Secretary Sanjeev Chopra said on Wednesday. "It (lifting of export ban on white rice) is also under consideration of the government. These things are dynamic and we will take an appropriate decision depending on the requirement and stocks available," Chopra told reporters. Export of non-basmati white rice has been banned since July 20, 2023 to boost domestic supply. The government has extended 20 per cent export duty on parboiled rice indefinitely. The secretary said there is ample stock of rice in the government godowns and retail prices are also under control.

The Economic Times

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

Euro India Fresh, BSE, Crest Ventures, Silgo Retail and Consol Const., hit their fresh 52-week highs during the day.

Business Standard

China's Shanghai Composite index rise 0.49%

There is a debate about the size of reduction after data showed U.S. retail sales unexpectedly ticked up in August in a sign of ongoing consumer resilience.

Mint

Lower crude price gains may be capped for OMCs

A possible cut in fuel retail prices is a looming threat. However, the adverse impact can be limited if the cut remains in the range of about ₹2 per litre.

The Economic Times

KRN Heat Exchanger IPO to open for subscription on September 25. Check details

The IPO of KRN Heat Exchanger will open for subscription on September 25 and will remain available until September 27. The price band for the issue, which involves a fresh equity sale of 1.55 crore shares, will be announced shortly. In this public offer, approximately 50% of the shares are reserved for qualified institutional buyers, 35% for retail investors.

The Economic Times

360 One Asset leads $10 million funding round in DailyObjects

DailyObjects, a D2C design and lifestyle brand, has raised $10 million in a funding round led by 360 One Asset. The funds will be used for expanding distribution, product innovation, increasing headcount, and manufacturing capacity. Founded in 2012, the company offers premium everyday products and plans to expand its offline presence with curated retail concepts.

The Economic Times

Learn with ETMarkets: How swing traders can take advantage of range-bound movement in gold?

A Fed rate cut usually weakens the dollar, leading to gold price increases as investors flock to safer investments. However, initial price spikes might be followed by a stabilization period as markets process the full impact of the rate change. Short-term, retail traders might see further upside potential with gold reaching $2,600 and Rs 75,000, but should also be ready for price corrections as the series of rate cuts continues.

Mint

E-commerce orders may be harder to return this festive season as sellers aim to maintain margins

Fashion and accessories experience a high frequency of returns, while returns in electronics and personal care items are relatively low.

The Economic Times

Western Carriers IPO subscribed by 10 times so far on day 4, GMP down to 29%. Check details

The IPO of Western Carriers has been oversubscribed 10 times, driven by strong retail demand. Analysts advise high-risk investors to consider the issue due to financial challenges.

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE

Euro India Fresh, Silgo Retail, Consol Const., BSE and Heranba Ind, hit their fresh 52-week highs at 11:09AM.

The Economic Times

Northern Arc Capital IPO subscribed 10 times on Day 3 so far. GMP surges to 76%

Northern Arc Capital's IPO has been subscribed 10 times by the third day, with significant interest from non-institutional and retail investors. The company has set a price band of Rs 249-263 per share and raised Rs 228 crore from anchor investors. Analysts recommend subscribing due to its strong growth potential and diversified business model.

Business Line

Mamaearth to retail in defence canteens

Personal care brand Mamaearth expands offline presence

Business Standard

Can Nifty hit 26,000 post Fed rate cut? Check FIIs, retail bets here

Derivatives market update for Sept 18: Foreign investors continue to hold bullish bets in Nifty, Bank Nifty; while retail investors have increased short positions. Here's what experts have to say.

The Economic Times

S&P 500 ends little changed as early gains fade before Fed decision

U.S. stocks closed nearly unchanged on Tuesday after earlier gains, with the S&P 500 and Dow hitting record highs. Investors are anticipating the first Federal Reserve rate cut in over four years. Economic data showed retail sales rose unexpectedly in August, indicating a stable economy through most of the third quarter.

The Economic Times

Dollar catches footing ahead of Fed

The dollar steadied on Wednesday as stronger-than-expected U.S. retail sales led traders to slightly reduce bets on an outsized interest rate cut by the Federal Reserve. The Fed is expected to make its first interest rate cut in over four years, with the size and tone of the cut influencing future market moves.

Mint

Indian stock market: 10 key things that changed for market overnight - Gift Nifty, US retail sales to Japan exports

Indian stock market: Gift Nifty was trading around 25,455 level, a premium of nearly 5 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.

Mint

The IPO roulette has more spinners and fewer winners, what's your fate?

A Mint analysis of data sourced from primedatabase.com showed that over five years, around 45.5% of IPOs across both the mainboard and SME segments have been oversubscribed by more than 10 times in the retail segment.

CNBC TV18

Asian stocks rise as traders await US Fed decision

Japanese shares led regional gains as the yen’s slide on Tuesday boosted the outlook for the nation’s exporters. The dollar bounced in New York following stronger-than-expected retail-sales data. Hong Kong is shut for a holiday, while Chinese stocks listed on mainland markets will resume trading after a break.

The Economic Times

Asian stocks rise as traders await Fed decision

Japanese shares led regional gains as the yen’s slide on Tuesday boosted the outlook for the nation’s exporters. The dollar bounced in New York following stronger-than-expected retail-sales data. Hong Kong is shut for a holiday, while Chinese stocks listed on mainland markets will resume trading after a break.

Mint

Breakout stocks to buy or sell: Sumeet Bagadia recommends five shares to buy

Regarding breakout stocks to buy today, Sumeet Bagadia, Executive Director at Choice Broking, recommended buying these five shares: Aarti Surfactants, Silgo Retail, Modison Ltd, Nava Limited, and Mallcom (India).

Business Standard

Govt asks oil firms not to hike retail prices, 3 MT of edible oil available

The government has asked edible oil processors not to hike retail prices following recent increase in import duties, as there is enough stock of cooking oils that were shipped at a lower duty. The food ministry said the stocks imported at lower duties would easily last 45-50 days, and therefore the processors should refrain from increasing maximum retail prices (MRP). Last week, the Centre implemented an increase in the basic customs duty on various edible oils to support domestic oilseed prices. Effective September 14, 2024, the basic customs duty on crude soyabean oil, crude palm oil, and crude sunflower oil has been raised to 20 per cent from nil, making the effective duty on crude oils to 27.5 per cent. Additionally, the basic customs duty on refined palm oil, refined sunflower oil, and refined soyabean oil has been increased from 12.5 per cent to 32.5 per cent, making the effective duty on refined oils to 35.75 per cent. On Tuesday, Food Secretary Sanjeev Chopra chaired a mee

Business Standard

Arkade Developers IPO gets subscribed 16.20 times on Day 2 of bidding

The initial public offer of Arkade Developers Ltd received 16.20 times subscription on the second day of bidding on Tuesday. The initial share sale received bids for 38,51,04,390 shares against 2,37,75,719 shares on offer, as per NSE data. The portion for non-institutional investors attracted 28.26 times subscription while the category for Retail Individual Investors (RIIs) got subscribed 19.99 times. The quota for Qualified Institutional Buyers (QIBs) fetched 44 per cent subscription. The initial public offer of Arkade Developers Ltd got fully subscribed on the first day of the share sale on Monday and ended the day with 5.79 times subscription. Realty firm Arkade Developers Ltd has raised Rs 122.40 crore from anchor investors. The company has fixed a price band of Rs 121-128 per share for its Rs 410-crore initial public offering. The initial share sale will conclude on September 19. The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale (O

The Economic Times

Government asks edible oil firms not to hike retail prices; 30 lakh tons oils imported at lower duty available

The government has urged edible oil processors not to raise retail prices despite recent import duty hikes, citing sufficient stocks imported at lower duties. The food ministry stated that these stocks would last 45-50 days. The import duty increase aims to support domestic oilseed farmers as new crops arrive in October 2024.

Business Standard

Northern Arc Capital IPO got subscribed 9.98 times on Day 2 of offer

The initial public offer of non-bank financial institution Northern Arc Capital Ltd got subscribed 9.98 times on the second day of bidding on Tuesday. The share sale received bids for 21,43,97,349 shares against 2,14,78,290 shares on offer, as per NSE data. The quota for non-institutional investors received 21.71 times subscription while the Retail Individual Investors (RIIs) part got subscribed 10.82 times. The portion meant for Qualified Institutional Buyers (QIBs) garnered 20 per cent subscription. Northern Arc Capital on Friday said it has collected Rs 229 crore from anchor investors. The Rs 777-crore IPO of the Chennai-based company will conclude on September 19. The price has been fixed in the range of Rs 249-263 per share. The IPO is a combination of a fresh issue of equity shares valued at Rs 500 crore and an Offer For Sale (OFS) of up to 1,05,32,320 equity shares worth Rs 277 crore, at the upper end of the price band, by investor shareholders. This aggregates the issue si

Mint

Wall Street today: US stocks gain after retail sales data, Federal Reserve in focus

At 09:49 a.m. ET, the Dow Jones rose 0.19 per cent, the S&P 500 gained 0.38 per cent, the Nasdaq gained 0.72 per cent

The Economic Times

US stocks open higher after retail sales data, Fed decision in focus

Wall Street's main indexes opened higher with the benchmark S&P 500 close to its intraday record high, ahead of the Federal Reserve's policy meeting starting on Tuesday, after data signaling a healthy consumer allayed worries of a sharp slowdown in the U.S. economy.

The Economic Times

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

Ecos(India)Mobilit, Aarti Surfactants, Silgo Retail, Modison Metals and Mallcom(India), hit their fresh 52-week highs during the day.

Mint

Paramount Speciality Forgings IPO Day 1: Check for Subscription status, GMP, key dates, all you need to know

Paramount Speciality Forgings IPO: The offer opened for subscription on 17 September' 2024 and closes on 20 September'2024. Check for Subscription status, GMP, key dates, all you need to know

The Economic Times

eBikeGo appoints Iftekhar Ahmed as CEO of GreenPioneer Mobility

eBikeGo has partnered with GreenPioneer Mobility and appointed Iftekhar Ahmed as CEO of GreenPioneer. They aim to lead the personal mobility space in India by opening flagship stores, quick stores, and franchise outlets. GreenPioneer will launch private-label brands and a retail brand, NONSTOP, offering mobility aids and rehabilitation equipment.

The Economic Times

Joohi Smita Sinha is SBI new CGM, Bengaluru circle

Sinha joined SBI as probationary officer in 1995 and has worked across sectors such as retail banking, corporate banking and human resources over the past 29 years.

The Economic Times

Bajaj Housing Finance, India’s most valuable mortgage lender, sees competition ebbing

Bajaj Housing Finance Ltd., India's leading mortgage lender, sees competition easing as larger banks shift focus from retail to corporate credit. Chairman Sanjiv Bajaj noted the company's shares surged after a successful IPO, and it plans to expand sensibly in key markets. Home prices outside major metros remain steady.

Mint

Upcoming IPO: Quadrant Future Tek gets SEBI nod to launch ₹275 crore IPO

Quadrant Future Tek Limited has received final observation from SEBI to raise ₹275 crore through an IPO. Founded in 2015, the firm focuses on rail safety technologies and speciality cables for defense and rail sectors. Revenue rose by 46.56% in FY 2023, driven by increased sales.

Business Line

Veefin Group acquires EpikIndifi, expanding Digital lending footprint

EpikIndifi’s acquisition adds new revenue streams through digital retail lending, including personal loans, green loans, and BNPL schemes

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE

Silgo Retail, Mallcom(India), Modison Metals, Aarti Surfactants and Consol Const., hit their fresh 52-week highs at 10:39AM.