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.
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On January 19, 2025, Melania Trump launched the MELANIA meme coin, which quickly achieved a $4 billion market capitalization within 30 minutes. This launch affected the TRUMP meme coin, reducing its market cap by $5 billion. The MELANIA token allocation raised ethical concerns, with 90% held in a single wallet and significant portions allocated to team vesting and treasury.
Air India is establishing a massive flying training organization (FTO) in Amravati, Maharashtra, by mid-2025. The airline has ordered 34 trainer aircraft from US and Austrian manufacturers to facilitate the training of 180 pilots annually. This ambitious project aims to address India's growing pilot demand and bolster the nation's aviation infrastructure, aligning with the 'atmanirbhar Bharat' vision.
Sebi chief Tuhin Kanta Pandey emphasized the importance of transparency and accountability in enhancing trust within India's financial markets. He highlighted the need for optimum regulation, focusing on relevant statutes, and pledged to foster investor awareness and education. Pandey also expressed his intent to promote voluntary compliance through a consultative approach involving all stakeholders.
Retail investors maintained their mutual fund investments in February despite market volatility, with a slight dip in SIP contributions and equity inflows. Shift towards flexicap funds was noted, while small and midcap funds faced declines. Gold ETFs saw strong annual inflows but dropped monthly. The overall AUM reduced mainly due to mark-to-market losses in equity funds.
The finance ministry has informed Parliament that the government's focus is on enhancing the quality of public spending, while also strengthening social security for the underprivileged. Despite global economic instability, the government is committed to reducing the fiscal deficit to under 4.5% by next financial year, emphasizing higher capital expenditure and reducing wasteful spending.
The Indian government is closely monitoring the US reciprocal tariffs, which are expected to impact exports and demand. Trade experts anticipate higher duties on Indian goods, including agricultural products, to be a strategic move by the US in bilateral talks. India plans to push forward with trade negotiations to counter the tariff impacts.
The Indian government is revising its Production-Linked Incentive (PLI) scheme to include broader support for new sectors such as footwear, toys, and textiles. The new approach will address inputs, skilling, and other aspects comprehensively, learning from earlier implementations that faced challenges with dependence on component imports.
Securitisation volumes in India surged by 80% year-on-year, reaching Rs 68,000 crore in the December quarter. ICRA revised its FY24 estimate to Rs 2.4 lakh crore. Growth was primarily driven by private banks, despite challenges in deposit growth and asset quality concerns in personal and unsecured business loans.
The GST on the margin of sale for used vehicles, including electric ones, has been revised to 18%. GST is payable only on the margin between purchase price and sale price. For depreciated vehicles, GST applies only if the sale price exceeds the depreciated value. Negative margins incur no GST liability.
IndusInd Bank shares plunged 25%, marking a 52-week low after the bank revealed accounting discrepancies in its derivatives portfolio. This triggered investor panic, leading to a severe drop in stock value. The bank faces potential financial repercussions of up to ₹2,000 crore, raising concerns over weak governance and internal controls, affecting overall banking sector confidence.