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Ahead of the Union Budget 2021, domestic equity market tanked more than 5% during the past five trading sessions till January 28. Finance Minister Nirmala Sitharaman will present her third Budget on February 1 after the outbreak of Covid in 2020. Earlier, the 30-share index had declined 1% on the budget day in 2019 and […]
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Brokerages retained their bullish view on Axis Bank despite it posted 36% year-on-year (YoY) drop in net profit at Rs 1,116 crore for the quarter ended December 31. It had reported a profit of Rs 1,757 crore for the corresponding quarter last year. While retaining ‘Accumulate’ rating on Axis Bank, Nirmal Bang Securities said, “Given […]
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The share allotment status of Indian Railway Finance Corp (IRFC) IPO will be available from Wednesday, according to the website of the issue’s registrar KFin Technologies Private Limited. Going with market watchers, the refund process would be initiated on January 27. The credit of shares to Demat accounts will be done on Thursday. Shares of […]
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IT major Tata Consultancy Services (TCS) on Monday surpassed energy-to-telecom behemoth Reliance Industries (RIL) yet again to become the most valued firm by market capitalisation on the BSE. At the close of trade, the market capitalisation (mcap) of TCS was at Rs 12,34,609.62 crore, which is Rs 4,948.30 crore higher than that of RIL’s Rs […]
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Last year was an unprecedented year in many ways with the NSE Nifty first nosediving to the lows of 7,500 and then registering a dramatic recovery. The rally, which extended to the New Year, is showing the first signs of fatigue, according to some experts. So, should you pull out your profits or is there […]
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Initial public offering by Stove Kraft, a kitchen solutions and an emerging home solutions brand, has opened for subscription on January 25 after receiving a stellar response from anchor investors on Friday. The public offer will close on January 28. Shares of the company are proposed to be listed on both BSE and the National […]
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New Delhi: Reflecting strong momentum, India witnessed 19 initial public offers worth $1.84 billion in the fourth quarter of 2020 and market sentiment remains positive in what could be a stellar 2021, according to a report. Leading consultancy EY’s India IPO Trends Report: Q4 2020 showed that there were a total of 10 Initial Public […]
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Stove Kraft Ltd, manufacturer of kitchen appliances, has raised a little over Rs 185 crore from anchor investors ahead of its initial public offer, which will open for subscription on Monday. A total of 48,22,290 shares have been allotted to 32 anchor investors at Rs 385 apiece, which is the upper end of the price band. […]
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Billionaire Mukesh Ambani’s Reliance Industries on January 22 reported a better-than-expected 12% rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio. Consolidated net profit in October-December stood at Rs 13,101 crore, compared to Rs 11,640 crore net earning in the same period a year […]
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Jio Platforms recorded 15.5% quarter-on-quarter rise in net profit to Rs 3,489 crore for October-December 2020, its parent firm Reliance Industries Limited said on Friday. Jio Platforms, which provides digital and telecom services, had posted a net profit of Rs 3,020 crore in the previous quarter. The revenue of the company stood at Rs 22,858 […]