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Solar EPC company Rays Power Infra has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share sale.

Vraj Iron and Steel through its public offer plans to raise Rs 171 crore via fresh equity issue. The company is engaged in manufacturing Sponge Iron, MS Billets, and TMT bars. It currently operates through two manufacturing plants which are located at Raipur and Bilaspur in Chhattisgarh spread across 52.93 acres.

​A combination of adverse macros and a higher-than-expected number of furloughs could bog down revenue conversion of top Indian IT companies, a Motilal Oswal report said ahead of the earnings season which begins on January 11 when Tata Consultancy Services (TCS) and Inforsy will announce their December quarter results.

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The strong response was led by retail investors, whose category was subscribed 155 times, followed by NIIs at 139 times and QIBs at 3.32 times. About 50% of the offer is reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

DPEL aims to achieve Rs 400 crore in revenue by March 2026. The company targets to double the revenue to Rs 300 crore by 2025 from Rs 150 crore in FY23.

Federal Bank, AU Small Finance Bank, and Kotal Bank closed with losses of over 2% each, while some buying was seen in HDFC Bank. The Nifty Bank witnessed sustained selling pressure throughout the trading session, which resulted in the formation of a bearish Marubozu candle on the daily charts.

Short covering signals a shift in view on a security from extreme bearishness to bullishness