IDBI Bank’s sale process kicked off when a preliminary information memorandum was issued by the finance ministry on October 7. The government of India and Life Insurance Corporation of India (LIC) are jointly selling 60.72% equity in the bank.
The Dow Jones Industrial Average fell 71.1 points, or 0.21%, at the open to 34,275.91
The category of corporate investors have tendered the most at 3.9 million shares while retail investors have offered to sell a little over 706,000 shares to the ports-to-power conglomerate with qualified Institutional buyers making up the rest
As per the DRHP, the IPO will comprise a fresh issue of equity shares worth up to Rs 750 crore and an Offer for Sale (OFS) of up to Rs 250 crore
Options data suggests a broader trading range between 18000 to 19000 zones, while an immediate trading range between 18300 to 18800 zones.The market breadth is skewed in favour of bulls. RSI is still holding the 70 levels, confirming the momentum. India VIX ended the session at 13.56 levels, suggesting that Continue Reading
After hitting a 52-week low of 15,183.40 on June 17, Nifty has rallied over 22% in a few months. Excluding Adani Enterprises, which became part of the headline index on September 30 this year, ITC has been the top gainer in the pack of 50 stocks since the last record Continue Reading
“My relative return is marginally overweight China and India. But in my long term absolute return portfolio, I have about 20 stocks which are still dominantly India because that is long term. The more short-term you are, the more you should want to be underweight in India. The more long Continue Reading
Many of the privately-run companies have been rightly priced (if not overpriced), and from a long-term perspective, while you want to keep your “core” portfolio around better-run private companies, the “satellite” part can still be favoured towards PSU stocks, Ahmed added.
The measures come after a six-month imposition and at a time when steel demand and pricing has taken a hit due to the global economic slowdown, and escalated Covid situation in China.
“Indian retail investors have emerged as a very powerful and resilient market participant in the last few years and specially post Covid 2019. The undeterred SIP monthly figures have come has a big saviour for Indian equity markets by absorbing massive FII outflows in the recent times, thereby making FII Continue Reading
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