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The initial public offer (IPO) of Brookfield India Real Estate Investment Trust (REIT) got subscribed 18% on the second day of subscription so far on Thursday.
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Future Retail plunged 4.99% to Rs 74.20 in the early trade, while Future Enterprises and Future Lifestyle Fashions also tanked 4.94% and 4.48% to Rs 11.15 and Rs 83.95, respectively.
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Brokerages retained their bullish view on Bharti Airtel after it posted better-than-expected financial results for the quarter ended December 31.
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Benchmark indices bounced back in the afternoon trade. At 1.27 pm (IST), the barometer index S&P BSE Sensex traded 101 points higher at 50,357. The Nifty 50 index was up 46 points at 14,836.
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"Probably in the third or fourth quarter of next financial year, depending on how soon the valuation comes," he said.
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The BSE benchmark Sensex closed above the historic 50,000 mark for the first time ever.
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Sensex witnessed mild profit-booking at higher levels but managed to end the day at fresh closing peak of 50,255.75, up 458 points or 0.92% while Nifty rose 142 points to end the day’s trade at another record high of 14,789.95.
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Initial public offering (IPO) by the global investment firm Brookfield India Real Estate Trust (REITs) hit the capital market on Wednesday to raise up to Rs 3,800 crore.
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After shedding over 60 points, the 30-share index made a U-turn and was trading over 520 points higher at a record high of 50,321.89.
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Shares of Home First Finance Company made a decent stock market debut on Wednesday.