Favourable mkt conditions push 139 SMEs to mobilise Rs 3,540-cr via IPO

Strong participation of family offices as well as high-net-worth individuals (HNIs), adequate market liquidity, and optimistic investor sentiment have amplified interest in small and medium enterprise (SME) IPOs, with 139 such firms garnering Rs 3,540 crore through initial share sales in 2023 so far. This was higher than 109 companies that raised Rs 1,875 crore through initial public offerings (IPOs) in the entire 2022, according to data provided by primedatabase.com. Looking ahead, the fundraising environment for SME IPOs is anticipated to remain favourable, experts said. "The primary determinants include the growth potential of specific sectors, market liquidity levels, investor sentiment, and potential regulatory changes. The robust fundraising momentum is expected to persist, buoyed by the convergence of these influential factors," Abhishek Jain, Head of Research at Arihant Capital Markets Ltd, told PTI. Going by the industry data, a total of 139 IPOs have debuted on the SME ..

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Cryptocurrency worth $930,000 seized by CBI from Ahmedabad-based man

The CBI has seized cryptocurrency worth more than USD 930,000 (around Rs 7.7 crore) from an Ahmedabad-based man who allegedly cheated a US-citizen posing as a senior executive of a multi-national company's fraud department, officials said. Based on inputs from the Federal Bureau of Investigation (FBI) of the United States, the CBI filed an FIR against Ramavat Shaishav, who allegedly contacted the US citizen over the phone and introduced himself as "James Carlson" from the fraud department of Amazon, they said. During searches, the CBI found 28 Bitcoin, 55 Ethereum, 25,572 Ripple and 77 USDT in Shaishav's e-wallet. These were transferred to the government's wallet at the time of the seizure, the officials said. He allegedly convinced the victim that his account on Amazon was being accessed by unscrupulous elements, and that his social security was being used from four different states to open accounts on the e-commerce platform. "It was also alleged that the accused induced the vict

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RBL Bank Q2 results: Net profit increases 46%, aided by rise in core income

Provisions rise amid strategic shift in advances

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Improved forex reserve provided policymakers room for manoeuvre: BIS report

India's improved forex reserve adequacy helped maintain investor confidence and improved policymakers' room for manoeuvre, said a report prepared by Bank for International Settlements (BIS). India maintained forex reserve upwards of USD 550 billion during most of 2022. BIS is an international financial institution which is owned by member central banks with primary goal to foster international monetary and financial cooperation. "Several members noted that the development of deeper and more liquid FX markets in the past facilitated efficient price discovery during 2022 and reduced the need for FX interventions or capital flow measures (CFMs) (including China, Indonesia and Malaysia)," the report said. In addition, minimum hedging requirements on corporates' net liability exposure in the past helped build firms' resilience and also mitigated the need for (or intensity of) an ex-post policy response in 2022, the report titled 'Inflation, external financial conditions and macro-financ

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Trading strategies for Nifty Auto, Pharma indices; check key levels here

The Nifty Auto index is exhibiting a bullish trajectory, and can be bought with a stop at 16,436, sugges3ts Ravi Nathani, an independent technical analyst.

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Crypto fraud: Navi Mumbai cyber police freeze accounts worth Rs 32.66 cr

The Navi Mumbai cyber police conducting the probe into a cryptocurrency fraud have frozen several bank accounts involving amounts worth Rs 32.66 crore, an official said on Wednesday. Senior police inspector Gajanan Kadam of the cyber police station in Navi Mumbai said they received a cheating complaint in August from a man who claimed to have invested more than Rs 6.6 crore in cryptocurrency trading. The man stated in the complaint that a woman caller befriended him and later asked him to invest in cryptocurrency trading while assuring good returns. As the complainant started investing huge amounts, he received a total of Rs 75 lakh in returns on various occasions, but later stopped getting the same, the official said. An offence in this connection was registered with the cyber police under various sections of the Indian Penal Code and the Information Technology Act. A police probe team enquired with various banks where the money was paid by the complainant and as a first step, go

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Bidding for Blue Jet Healthcare IPO sale set to open on October 25

Bidding for the Initial Public Offering (IPO), which is entirely an offer for sale (OFS) of 2.42 crore shares by promoters -- Akshay Bansarilal Arora and Shiven Akshay Arora -- will conclude on Oct 27

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Gold price jumps Rs 500, closes at Rs 60,150; silver rallies Rs 1,000

Gold price jumped Rs 500 to Rs 60,650 per 10 grams in the national capital on Wednesday amid strong global cues in international markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 60,150 per 10 grams. "Gold prices jumped on Wednesday, following a positive trend in the overseas market," Saumil Gandhi, senior analyst of commodities at HDFC Securities, said. Silver also surged Rs 1,000 to Rs 74,700 per kilogramme. In the global markets, both gold and silver were trading higher at USD 1,937 per ounce and USD 23.10 per ounce, respectively. Comex gold surged to its highest level in four weeks as demand for safe-haven assets intensified after the Middle East turmoil widened, with hopes for a diplomatic resolution deteriorating after a deadly explosion in Gaza, Gandhi said.

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Stock Market LIVE: Asian indices mixed; China Q3 GDP comes at 4.9%

Stock market LIVE updates on Wednesday, October 18, 2023: Key indices across Japan, South Korea, China, Hong Kong, and Australia were mixed with Nikkei down the most

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Nifty FMCG likely to exhibit bullish bias; Metal needs to clear 6964 hurdle

The Nifty FMCG can potentially rally nearly 2 per cent from current levels, to near about 53,625, says Ravi Nathani, an independent technical analyst.

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IRM Energy collects Rs 160 crore from anchor investors ahead of IPO

City gas distribution company IRM Energy Ltd on Tuesday said it has raised over Rs 160 crore from anchor investors ahead of its initial share sale that opens for subscription on Wednesday. The company has decided to allot 31.75 lakh equity shares to 12 funds at Rs 505 apiece, which is also the upper end of the price band, aggregating the transaction size to Rs 160.35 crore, according to a circular uploaded on the BSE website. Foreign investors and domestic institutions -- Quant Mutual Fund, SBI General Insurance Company HDFC Life Insurance Company, DSP MF, ITI MF, BOI MF, Nippon AIF, and PNB Metlife -- were the anchor investors. The IPO is a fresh issue of up to 1.08 crore equity shares. The offer also includes reservation for subscription by eligible employees, and a discount of Rs 48 per equity share is being offered to such employees. At present, the promoters own 67.94 per cent stake in the company, with the majority being held by Cadila Pharmaceuticals (49.50 per cent), and th

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Stock Market LIVE: Gift Nifty tops 19,800; HDFC Bank, Grasim, JFS in focus

Stock market LIVE updates on Tuesday, October 17, 2023: At 8:35 AM, Gift Nifty was up 64 points at 19,804

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Stocks to Watch today: HDFC Bank, Grasim, JFS, Sugar, Ceat, SpiceJet, BoM

Stocks to watch on Oct 17, 2023: HDFC Bank reported a 50 per cent jump in net in its first results after merger with HDFC; Jio Financial posted 100 per cent growth in net post demerger from Reliance.

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Nifty Financial Services: Look to buy the dips as index consolidates

Whereas, one needs to be patience and await for a clear breakout on the Nifty Private Bank Index, suggests Ravi Nathani, an independent technical analyst.

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Industrial metals to remain vulnerable to more softness near-term: Goldman

The copper market could face near-term pressure from the likelihood that Chinese imports of the metal could be restrained, the bank said

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Stocks to Watch today: Adani Group, DMart, HDFC Life, TaMo, Dalmia Bharat

Stocks to watch on Monday, October 16, 2023: Ceat, Cyient DLM, Federal Bank, Jio Financial and Yatra Online among 24 companies to announce results today.

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Stock Market LIVE: Asian indices crack as Brent hits $90; Nikkei down 2%

Stock market LIVE updates on October 16, 2023: Last Friday, the S&P 500 declined by 0.50 per cent in the US while the tech-heavy Nasdaq Composite lost 1.23 per cent

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Nifty50 index confined within a 400-point trading range, indicates chart

Similarly, the Bank Nifty is seen consolidating in between the 44,764 - 43,781 points range, says Ravi Nathani, an independent technical analyst.

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Global markets brace for fallout amid escalating Israel-Hamas conflict

Market reaction in the past week has been relatively muted, though Israel's shekel currency took a big hit

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Earnings, geopolitical uncertainties to dictate market trends: Analysts

The ongoing second quarter earnings, movement of oil benchmark Brent crude and the uncertainty in the Middle East would dictate terms in the domestic markets this week, analysts said. Furthermore, the activities of Foreign Institutional Investors (FIIs) will also influence trading in the markets. "A slew of earnings reports from heavyweights expected this week will significantly impact market direction. The activities of Foreign Institutional Investors (FIIs) will be important, given their recent consistent selling streak," Santosh Meena, Head of Research, Swastika Investmart Ltd. Foreign investors have pulled out nearly Rs 9,800 crore from Indian equities this month so far owing to a sustained rise in US bond yields and the uncertain environment resulting from the Israel-Hamas conflict. It was a tumultuous week in the market, marked by significant events and high volatility. Despite this, the market closed on a positive note, largely attributed to strong domestic liquidity. Last

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