IDFC Emerging Business Fund, IDFC Dynamic Equity Fund, ICICI Prudential Child Care Plan Gift Plan, IIFL Special Opportunities Fund Series 7, HSBC Global Investment Funds, Mirae Asset funds, Canara HSBC Oriental Bank of Commerce Life Insurance Company, Ashmore India Opportunities Fund, Kuber India Fund, Tata Multi Asset Opportunities Fund, Reliance Equity Opportunities AIF Scheme 1, and Abakkus Emerging Opportunities Fund-1 were among the anchor investors.
The transport infrastructure consultancy and engineering firm reported that its board approved buy-back of 96,98,113 shares at Rs 265 per share, translating into a total buyback amount not exceeding Rs 257 crore.
The remarkable thing about some of these SPAC-backed companies is they’re going public before they’ve generated their first revenues. These businesses are selling a vision rather than a proven track record of turning that dream into reality. Investments don’t get much more speculative than that.
The Nasdaq Composite gained 63.17 points, or 0.58%, to 10,973.45 at the opening bell. The Dow Jones Industrial Average fell 37.11 points, or 0.13%, at the open to 27,864.87, while the S&P 500 opened higher by just 0.37 points, or flat, at 3,357.38.
Vedanta Resources Ltd.’s billionaire founder is working with Centricus Asset Management Ltd. on the plans, according to the people, who asked not to be identified discussing private information. They have started approaching potential investors for the proposed India Direct Investment fund, which will buy stakes in government companies being sold as part of the country’s 2.1 trillion-rupee ($29 billion) divestment program, the people said.
S&P BSE SENSEX down 180 points, Nifty below 11,500; M&M, TechM, Airtel down 2% each
Nifty Pharma at record high, up 6.5%
Forex Center: This is how the major currencies are faring against each other
TRAI asks telcos to publish detailed tariff plans in 15 days
Price as on 18 Sep, 2020 01:33 PM, Click on company names for their live prices.
BSE Sensex erases gains, slips below 39,000 mark
The benchmark Sensex erased gains to slip into the red in afternoon session on Friday amid losses in HDFC twins and HUL.
Saint Gobain to sell land worth Rs 32 crore
Saint-Gobain Sekurit said its Board of Directors have accorded their consent to sell the leasehold rights received from Maharashtra Industrial Development Corporation, for the plots at Bhosari at negotiated price not less than Rs 32.50 crore.
Hindalco to buy 60% of copper concentrate produced by Hindustan Copper
State run Hindustan Copper signed a deal with Hindalco Industries for long-term sale of copper concentrate produced by the company to Hindalco. Under this MoU, around 60% (copper content) of its current copper concentrate production will be utilized by Hindalco in the manufacture of refined copper.
Zydus Cadila gets USFDA nod to market mineral supplement
Drug firm Zydus Cadila on Friday said it has received approval from the US health regulator to market Potassium Chloride extended release tablets, a mineral supplement used to treat or prevent low amounts of potassium in the blood. Zydus Cadila has received final approval from the US Food and Drug Administration (USFDA) to market Potassium Chloride extended release tablets in the strengths of 10 mEq (750 mg) and 20 mEq (1,500 mg), Zydus Cadila, part of Cadila Healthcare group, said in a BSE filing.
Top losers in the FMCG space
Price as on 18 Sep, 2020 12:36 PM, Click on company names for their live prices.
Natco Pharma soars 17% as path to launch Revlimid generic clears
The settlement of Dr Reddy’s Labs with Celgene over its patent on Revlimid cleared the path for Natco Pharma to launch the first generic version of the drug which is used to treat multiple myeloma and myelodysplastic syndromes. Following the settlement, shares of Natco Pharma surged 17.53 per cent to Rs 912.60. During the day it also hit the 20 per cent upper circuit placed at Rs 931.70.
Given the high entry barriers and the near duopoly nature of the market, the moat of the company remains intact. CAMS has also delivered strong operating margins and shareholder returns consistently and maintains a clean balance sheet with negative working capital. With growth being linked to the rise in AUMs for Mutual Funds, the company is poised to generate consistent returns going forward. Investors just need to be cautious regarding the slower pace of growth as paper-based transactions which contribute a large part of revenues see a decline over time.
- Nirali Shah, Senior Research Analyst,Samco Securities
Angel Broking to hit the primary market next week
Domestic brokerage Angel Broking said its initial public offering (IPO) will open for subscription on September 22, and the price band for the same has been fixed at Rs 305-Rs 306 per equity share. The offer, which will close on September 24, comprises a fresh issue of Rs 300 crore and an offer for sale aggregating to Rs 300 crore.
Top gainers & losers in the tourism & hospitality space
Price as on 18 Sep, 2020 11:21 AM, Click on company names for their live prices.
Rupee expected to trade in the range of 73.40-73.80: MOSL
On the domestic front, brokerage Motilal Oswal Financial Services believes that lack of cues is likely to keep the volatility low for the currency. “For today, we expect USDINR (Spot) to quote in the range of 73.40 and 73.80,” it said.
BSE Healthcare jumps over 3% as pharma stocks gain up to 15%
China's ByteDance is planning a US initial public offering of TikTok Global, the new company that will operate the popular short video app, should its proposed deal be cleared by the U.S. government, people familiar with the matter said on Thursday.
Foreign funds could pump in about $800 million into Indian stocks on Friday with global index services provider FTSE adding more stocks or increasing weightages of existing ones as part of the rebalancing of its Global Equity Index Asia Pacific ex Japan and China.
7.35 crore shares of Essel Propack traded in a block; stock down 5%; Blackstone likely seller
Price as on 18 Sep, 2020 09:37 AM, Click on company names for their live prices.
Voda Idea, Essel Propack, YES Bank among most active stocks on NSE
Price as on 18 Sep, 2020 09:22 AM, Click on company names for their live prices.
Nifty futures on the Singapore Exchange traded 22.5 points, or 0.20 per cent lower at 11,505.50, in signs that Dalal Street was headed for a negative start on Friday.
Tech View: Nifty breakout false, rally might just end
Nifty50 on Thursday saw selling pressure from the word go, and ended up forming a small bearish candle on the daily chart with a long upper wick. The formation of such a pattern a day after breaching two key hurdles suggests a false breakout, said analysts, who believe the index needs to protect its 20-day exponential moving average (EMA) to avoid any selloff.
Oil eases as US production returns after storm
Oil prices drifted lower on Friday, pausing after three days of gains, as producers prepared to resume operations in the Gulf of Mexico and data showed Saudi Arabian exports rose from record lows. Brent crude was down 6 cents at $43.24 a barrel by 0112 GMT, while U.S. oil futures dropped 6 cents to $40.91 a barrel. Both contracts have risen sharply this week as Hurricane Sally cut U.S. production and are on track for a weekly gain of around 9%, the first in three weeks.
Bank of England eyes negative interest rates
The Bank of England on Thursday gave its strongest hint yet that negative interest rates could be on the way as the UK economy battles against coronavirus and Brexit headwinds. Following a regular policy meeting, the BoE led by governor Andrew Bailey left its key interest rate at a record low of 0.1 percent amid low inflation and rising unemployment caused by Covid-19 fallout. The central bank also maintained its cash stimulus at £745 billion, the minutes of its latest meeting showed.
Asian markets opened mixed
Asian shares opened mixed on Friday despite pledges by central bankers globally to do whatever it takes to support the economic recovery. Japan's Nikkei 225 index fell 0.05 per cent or 11.56 points to 23,307.28. In Hong Kong, Hang Seng rose 0.31 per cent, or 75 points, to 24,413.01. China's Shanghai Composite index added 0.25 per cent, or 8.02 points, to 3,279.07. South Korea's Kospi fell 0.33 per cent or 8 points to 2,398.
Japan's Aug consumer prices fall at fastest pace in 4 years
Japan's core consumer prices fell at their fastest pace in almost four years in August, dragged mostly by government-sponsored discounts for domestic travel aimed at supporting the battered tourism sector. The core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, fell 0.4% in August from a year earlier, government data showed on Friday.
US stocks drop as tech stocks struggle
US stocks finished lower as shares of big tech names struggled, weighing on the market.On Friday, the Dow Jones Industrial Average slipped 130.40 points, or 0.47 per cent, to 27,901.98. The S&P 500 fell 28.48 points, or 0.84 per cent, to 3,357.01. The Nasdaq Composite Index decreased 140.19 points, or 1.27 per cent, to 10,910.28.
Rupee declines by 14 paise on strong dollar
The rupee depreciated by 14 paise to end at 73.66 against the US dollar on Thursday tracking muted domestic equities and stronger greenback in the global markets. Asian currencies weakened after the US Federal Reserve's new forward guidance, analysts said.
India Inc to raise more than Rs 50k crore from IPOs
According to data made available by Geojit Financial Services, as many as 80 firms have approached the regulator Securities and Exchange Board of India (Sebi) to get the necessary approvals for tapping the primary market through the rest of the current fiscal. Together, these firms are planning to raise equity capital aggregating to Rs 51,515 crore from the primary market, the brokerage said
Sensex, Nifty on Thursday
The 30-share BSE Sensex opened lower and stayed in the negative zone throughout the session. It finally finished at 38,979.85, down by 323 points or 0.82 per cent.Similarly, the NSE Nifty shed 88.45 points or 0.76 per cent to close at 11,516.10
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