Shares of Standard Glass Lining Technology Ltd closed with a nearly 17% premium against the issue price, debuting at Rs 176 on the BSE, with a valuation of Rs 3,258.70 crore. The IPO saw a 182.57 times subscription with proceeds for debt repayment, investments, and acquisitions.
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The Adani Group has increased its offer for sale (OFS) in Adani Wilmar to 20% due to strong investor interest, reducing its stake to 24%. The sale is expected to generate at least Rs 7,150 crore. Wilmar will own 68% of Adani Wilmar post-transaction, and intends to leverage the company's distribution network for its FMCG portfolio.
On Tuesday, Unimech Aerospace and Manufacturing Ltd shares debuted on the stock exchange with a notable 90% premium above its Rs 785 issue price, listing at Rs 1,491 on the BSE and Rs 1,460 on the NSE. The company's IPO was significantly oversubscribed, achieving a market capitalisation of Rs 6,956.20 crore.
Peter Schiff warns that Bitcoin could crash to $20,000 if the Nasdaq enters a bear market. He emphasizes the historical correlation between Bitcoin and Nasdaq declines, while also pointing out gold’s potential rise as an alternative safe haven.
US President Donald Trump plans to reintroduce a 25% tariff on steel and aluminum imports, raising concerns for Indian steel producers facing intense competition and oversupply. Despite the significant tariffs, India's strong domestic market is expected to mitigate adverse effects on its steel industry.
Commerce and Industry Minister Piyush Goyal urged industries to reduce protectionism and emphasized dealing with the world from a position of strength. He assured that the government is actively working to protect exporters, especially amid concerns over high tariffs imposed by countries like the US, the UK, and the EU.
Indian equity markets surged on Friday, mirroring a global rebound and fueled by value buying across sectors. The Sensex soared over 1244 points, while the Nifty 50 climbed more than 400 points, driven by positive domestic cues and expectations of steady inflation. Experts suggest long-term investors consider selective buying in financials and pharmaceuticals.
Yes Bank disclosed that it has received a demand notice for Rs 2,209 crore from the income tax department for the 2019-20 assessment year. Although the reassessment confirmed the original income assessment without additional changes, an unexpected demand including interest has been raised against the bank.
Murata Manufacturing Co. is considering shifting some production to India due to growing demand and business continuity. They plan to begin capacitor packaging and distribution there by fiscal 2026, addressing infrastructure limitations while leveraging local workforce benefits and future incentives.
Axis Securities recommends buying V-Mart Retail, anticipating an 8% growth, while Yes Securities sees a 33% potential rise for Godawari Power following its acquisition in the metal recycling sector. Elera Securities suggests investing in Indigo Airlines due to expected demand increase by FY26. ICICI Securities maintains a positive outlook on Emami, citing acquisitions as a growth driver.
Sajjan Jindal, chairman of the JSW Group, plans to invest Rs 5.8 lakh crore ($70 billion) in renewables, steel, cement, infrastructure, and automobiles over the next six years. Jindal argues that India needs tariffs to protect domestic industries from cheaper Chinese imports, which are threatening local manufacturers. He stresses the need for government support to compete with China.