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As Accenture’s deal bookings hit an all-time high of $22.1 billion, up 17% YoY in CC terms, in the second quarter, investors are betting that large Indian IT companies may gain more than smaller ones. “Increasing client focus on larger deals and slowdown in smaller deals position larger IT firms more favorably than mid/small sized…
Continue ReadingReliance Capital’s arm Reliance General Insurance, reported a net profit of Rs 59 crore for the third quarter ended December, higher by 23%, compared with Rs 48 crore reported in the previous year period. During the April-December period, the company’s gross written premium rose 13% year-on-year to Rs 8,208 crore as against Rs 7,294 crore…
Continue ReadingDivgi TorqTransfer Systems shares listed at over a 5% premium over IPO price, at Rs 620 on the NSE amid a flat domestic market. The scrip touched a high of 5.08% before settling to trade flat at a mild gain of 0.14% at Rs 590.85 over its issue price of Rs 590. A positive listing…
Continue ReadingByju’s, the world’s most valuable edtech startup, is seeking to raise as much as $250 million through the issuance of convertible notes by its tutoring service unit, Bloomberg reported on March 9, citing people familiar with the matter. Aakash Educational Services, the firm’s tutoring business provider, will issue the notes that will convert into equity…
Continue ReadingThe Reserve Bank of India monetary policy committee (MPC) is set to announce its latest bi-monthly monetary and credit policy on Wednesday, 8 February, concluding a 3-day meeting. Since retail inflation has dropped to remain below RBI’s threshold of 6% for three months in a row, the MPC is expected to increase interest rate by…
Continue ReadingSah Polymers will make its grand debut on the BSE and NSE on January 12. This would be the second listing since the beginning of New Year 2023, after Radiant Cash Management Services which had started the year on a strong note despite tepid IPO subscription and market correction. Customised bulk packaging solutions provider Sah…
Continue ReadingSEBI permits government shareholding in IDBI Bank to be reclassified as public after stake sale. The Securities and Exchange Board of India has given its approval for reclassification of the government’s shareholding in the bank as ‘public’ after its stake sale. The government and state-run Life Insurance Corporation of India (LIC) will sell 60.72% stake…
Continue ReadingMonetary tightening, inflation, recession fears, and muted listing performance cooled down activities in India’s primary market in 2022. As much as 40 Indian companies raised Rs 59,412 crore through main board initial public offerings (IPO)s in 2022, as against Rs 1,18,723 crore (an all-time high) mobilised by 63 IPOs in 2021, according to Prime Database.…
Continue ReadingIndusInd Bank share price was in focus on January 4 after global brokerages gave thumbs up to the stock following strong Q3 business updates. Net advances of the bank for the December quarter increased 19 percent YoY while deposits increased 14 percent from last year. On a sequential basis, advances and deposits grew 5 percent…
Continue ReadingThe public issue of Sah Polymers continued to get healthy subscription on January 3, the third day of bidding. The offer has so far attracted bids for 1.82 crore equity shares as against an IPO size of 56.1 lakh shares, subscribing 3.26 times. The response by retail investors as well as high networth individuals remain…
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