Latest Stock Market News

Madhuri Madhusudhan Kela, Nuvama Crossover Opportunities Fund and TIMF Holdings pick up stake in IPO bound SAMHI for Rs 130 crore. Blue Chandra Pte. Ltd sold 10.32 million shares or an 8.4% stake at an issue price of Rs 126 per equity share on September 6 and 8. This share sale is subject to a lock-in-period and is over and above the offer for sale of 13,50,000 equity shares in the IPO.

According to the data with the depositories, FPIs pulled out Rs 4,203 crore from the equities, so far, this month (till September 8). This came after FPI investment in equities had hit a four-month low of Rs 12,262 crore in August. Before the latest outflow, FPIs were incessantly buying Indian equities in the last six months -- from March to August -- and brought in Rs 1.74 lakh crore during the period.

Sectorally, buying was seen in infra, realty, public sector, and oil & gas stocks while selling was seen in healthcare and FMCG space. Stocks that were in focus include names like Graphite India which rallied more than 8%, PFC rose more than 12% and REC closed with gains of over 10% to a new high on Friday.

The IPO of Ratnaveer Precision Engineering was subscribed 93.95 times at close. The non-institutional category was subscribed to the most at 135.1 times, followed by the QIB category at 133.05 times. The retail part of the issue was subscribed 53.93 times on the last day. The IPO comprised a fresh issue and an offer for sale (OFS). The fresh equity of 1.38 crore shares and OFS of 30.4 lakh shares.

​​ When an economy gets caught into such a downward spiral, it is not easy to get out of this muddle of deflationary trap. Japan will know it better. It is three decades since Japanese economy got into this deflationary entanglement. They are yet to find a way out. If right policy tools are not used, China may be staring at a similar fate.

The ex-dividend date is when the price of the equity shares of a company gets adjusted for the dividend payout. It is one or two working days before the record date.

The upside here is immense. Forethought by our policymakers, the demographic dividend, and the ambition of our startups and private sectors have elevated the median at which India operates. At 7.8% in the first quarter of the financial year 2023, India is the fastest growing major economy in the world. At a global scale, India is to contribute 15% of the global growth in 2023, as per the International Monetary Fund (IMF)