Kross Ltd — a specialist in manufacturing forging components for top OEMs — has filed preliminary papers with capital markets regulator Sebi to raise Rs 500 crore through an Initial Public Offering (IPO).The maiden public issue of the Jamshedpur-based company comprises a fresh issue of shares worth up to Rs 250 crore and an Offer […]
Mukesh Ambani’s RIL and Disney sign ‘non-binding pact’ for mega media merger: Report
Mukesh Ambani-led Reliance Industries and Walt Disney have signed a non-binding pact that will pave way for merger of their Indian media businesses, latest media reports say. A Reuters report quoting ET said that mega merger is believed to be completed by February 2024. The report also said that the merger would give more control […]
Sebi proposes optional instant settlement
In a move that seems to be testing waters before the final decision, the Securities and Exchange Board of India (Sebi) on Friday issued a consultation paper on instant settlement of funds and securities as an optional T+0 settlement cycle in two phases. In Phase 1, it will be implemented for trades taken till 1.30 […]
Stocks to Watch: L&T Finance, UltraTech Cement, JSW Steel, Lupin, BHEL
Stocks in Focus: GIFT Nifty traded flat at 19,862.5 down merely 0.01%, indicating a tepid opening for domestic indices NSE Nifty 50 and BSE Sensex on Friday. Previously, on Thursday, the NSE Nifty 50 ended down by 9.85 points or 0.05% to settle at 19,802.00, while the BSE Sensex ended flat, down merely 5.43 points […]
Rating snafus
Chief economic adviser V Anantha Nageswaran and his team are right in calling out the high degree of opaqueness in credit rating methodologies. In a document titled Re-examining Narratives: A Collection of Essays, published by his office, Nageswaran makes the point that the lack of transparency in the assessment methods of the agencies makes it [&h
FII, DII data: FPIs purchased shares worth Rs 2625 Cr, DIIs added shares worth Rs 134 Cr on November 24, Friday
Foreign institutional investors (FII) purchased shares worth net Rs 2,625.21 crore, while domestic institutional investors (DII) added shares worth net Rs 134.46 crore on November 24, 2023, according to the provisional data available on the NSE. “There are some important developments that might influence FPI inflows into India. The better-than-expe
Oil Prices caught in seesaw battle between interest rates and geopolitical conflicts
By Bhavik Patel Oil price is going nowhere and is witnessing wildly swinging seesaw activity, with interest rates and the war premium in a constant battle with no clear view of which one would gain the upper hand. Traders are worried about the effect of high interest rates on oil consumption which had sparked a […]
ICC World Cup 2023 Final: Narendra Modi Stadium electrified as India faces Australia – See pics
1/11 India will face Australia in the ICC World Cup 2023 final on Sunday. The match will be played at Narendra Modi stadium, the world’s largest cricket stadium in Ahmedabad. The cricket fans across the country are in a state of excitement. All security arrangements have been made keeping in mind the attendance of high-profile […]