Page 8 - Latest Updates on Stock Market
Multiple growth triggers to drive gains for United Spirits stock
Growth on top: Premiumisation and strategic pricing raise the bar for its Prestige and Above portfolio
 "Multiple growth triggers to drive gains for United Spirits stock")
Festive season may not light up portfolios, but here's where you can invest
With festive season approaching, sectors like automobiles, FMCG, and electronics usually see a sales boost
 "Festive season may not light up portfolios, but here's where you can invest")
Marathon run: Nifty extends record-breaking winning streak to 13 sessions
Benchmarks sprint to new closing records amid rate-cut speculation
 "Marathon run: Nifty extends record-breaking winning streak to 13 sessions")
Market regulator Sebi keeps JSW Cement's Rs 4,000 cr IPO in 'abeyance'
Without specifying reasons, Sebi stated that the "issuance of observations (has been) kept in abeyance," according to an update on its website on Monday
 "Market regulator Sebi keeps JSW Cement's Rs 4,000 cr IPO in 'abeyance'")
Investors subscribe Gala Precision IPO 10.83 times offer size, shows data
Gala Precision Engineering is a precision component manufacturer of technical springs like disc & strip springs (DSS); coil & spiral springs (CSS) and Special Fastening Solution (SFS)
 "Investors subscribe Gala Precision IPO 10.83 times offer size, shows data")
UBS Group AG sells shares of 7 companies worth Rs 4,961 crore
Zurich-based UBS Group AG through its affiliate UBS Principal Capital Asia offloaded shares of seven companies through separate bulk deals on the National Stock Exchange (NSE)
 "UBS Group AG sells shares of 7 companies worth Rs 4,961 crore")
Baazar Style Retail IPO receives 72% subscription on day 1 of offer
The initial share sale got bids for 1,08,18,182 shares against 1,50,30,116 shares on offer, as per NSE data
 "Baazar Style Retail IPO receives 72% subscription on day 1 of offer")
Max Estates launches QIP, plans to raise Rs 800 cr for business growth
According to sources, all major domestic mutual fund companies have participated in the Qualified Institutional Placement (QIP) issue
 "Max Estates launches QIP, plans to raise Rs 800 cr for business growth")
US futures rise, inflation data in spotlight as Fed's Sept meeting nears
Economists polled by Reuters forecast a marginal rise to 2.6% on an annual basis, from the previous month's 2.5%
 "US futures rise, inflation data in spotlight as Fed's Sept meeting nears")
Market buoyancy significantly boosts success rate of firms launching IPOs
The IPO filing-to-approval lapsing ratio this year is the best in three years, underscoring the improvement in the IPO market's buoyancy
 "Market buoyancy significantly boosts success rate of firms launching IPOs")
Pricing weakness likely to weigh on Indian steel companies stocks
In Q1FY25, Tata Steel and JSW Steel posted flat operating profit margins as higher volumes and lower input prices compensated for low steel prices
 "Pricing weakness likely to weigh on Indian steel companies stocks")
Reliance shares rally 2% on 1:1 bonus issue announcement ahead of AGM today
The AGM of Mukesh Ambani-owned RIL will begin today at 2 PM IST. Analysts anticipate a range of significant announcements at the 47th RIL AGM
 "Reliance shares rally 2% on 1:1 bonus issue announcement ahead of AGM today")
Nifty records fresh high after longest winning streak in four years
The index rose to 25,130 intraday before giving up some of the gains to end the session at 25,052, with a gain of 35 points, or 0.14 per cent, its longest winning streak since September-October 2020
 "Nifty records fresh high after longest winning streak in four years")
SME stock hits 12th straight upper circuit; up 4x over IPO price in 12 days
Shares of Afcom Holdings were locked in 10-per cent upper circuit for the 12th straight trading day, at Rs 444.40 on the BSE in Wednesday's intraday trade. The stock had surged 99% on its listing day.
 "SME stock hits 12th straight upper circuit; up 4x over IPO price in 12 days")
Rupee falls 2 paise to 83.95 against US dollar in early trade today
At the interbank foreign exchange market, the local unit opened at 83.94, then lost further ground and touched 83.95, registering a loss of 2 paise from its previous close
 "Rupee falls 2 paise to 83.95 against US dollar in early trade today")
GMM Pfaudler jumps 13% after over 3 mn shares change hands via block deals
Around 84,000 shares had changed hands on the counter on the BSE, while 3.15 million shares had changed hands on the NSE till 10:15 AM.
 "GMM Pfaudler jumps 13% after over 3 mn shares change hands via block deals")
Zydus Lifesciences share price zooms 4% on USFDA nod for Parkinson's drug
Zydus Lifesciences share price soared up to 3.8 per cent at Rs 1156.45 per share on the BSE in Wednesday's intraday deals
 "Zydus Lifesciences share price zooms 4% on USFDA nod for Parkinson's drug")
Booming primary market in India lures funds away from pricey stocks
The divergence comes as Indian secondary-market stocks are among the priciest in the world, at about 24 times 12-month forward earnings
 "Booming primary market in India lures funds away from pricey stocks")
Five most overbought SME IPOs of 2024 see 1100x demand amid frenzy
Bets exceed Rs 65,000 crore even as these firms looked to raise a cumulative Rs 60 crore
 "Five most overbought SME IPOs of 2024 see 1100x demand amid frenzy")
This is why Sensex scaled over 700 pts intraday, BSE SmallCap hit new high
The broader markets also showed strength with the BSE MidCap index rising 0.66 per cent at 48,627 levels, while the BSE SmallCap index scaled a new record high at 56,066, jumping 385 points
 "This is why Sensex scaled over 700 pts intraday, BSE SmallCap hit new high")
