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Mukka Proteins has submitted a new draft red herring prospectus to the SEBI for an IPO to raise funds. The company, which leads India’s fish protein industry, intends to offer up to eight crore shares, with a face value of Re1, in a fresh issue. At least 35% will be available to retail individual bidders, while up to INR10 crore ($1.3m) will be invested in Mukka’s associate, Ento Proteins Private Limited. More than 50% of the issue will be open to allocation to qualified institutional buyers. The company’s DRHP shows it made INR770.5 crore in revenue in FY22, up 27.6% YoY.

​The Futures Long Position Scan performed on Friday revealed Aggressive New Long positions on the counters of 6 Nifty500 finance stocks.

The Relative Strength Index of the stock stood at 70.46 on Monday.

A study of 13 CEO changes in the past decade shows midsized IT firms usually outperform larger ones on growth and profitability after a leadership change, with turnarounds in IT firms hard to achieve. Analysts say there is a stronger likelihood of mid-sized IT firms, including Mindtree, Birlasoft and Zensar, beating revenue and net profit growth expectations post-leadership change. The Nifty IT index has risen only 7% in the past year amid a slowdown and recession fears. Infosys is the only Indian IT stock with a buy rating from Jefferies, targeting Rs 1,570.

A total of 49,027 shares changed hands on the counter till time (IST).

Highdell Investment, owned by private equity firm Warburg Pincus, has sold partial stake in Kalyan Jewellers through open market transactions on Friday.

The US dollar edged upwards by 0.049% to 102.33 on 25 June, while the yen remained fragile. Last week, a week of central bank meetings saw the Federal Reserve leave rates unchanged while suggesting that further hikes were on the horizon. Meanwhile, the European Central Bank raised interest rates and the Bank of Japan continued with its ultra-easy policy. The events mean that the market still requires convincing that the Fed will grant two more hikes this year, but investors predict there is a 72% probability of a hike by 25 basis points next month.

Consumer tech companies that went public between late 2021 and early 2022 are witnessing a significant recovery on the bourses, with gains of as much as 46% in the current fiscal. The hype surrounding these companies has now subsided, and analysts and investors have a better understanding of their business. The companies have implemented new strategies, helping stocks rise, and analysts have come out with positive reports, thereby raising the target prices.

Golden Cross is an important technical indicator of bullishness. It occurs when the short-term moving average crosses over the major long-term moving average on the upside.

To help tide over the repayment requirement, the percentage of royalty from Indian listed entity Vedanta Limited has increased from 2% to 3% starting this year. Also, Vedana Resources Ltd. (VRL) had informed investors earlier this month that it has entered into a similar royalty agreement with Hindustan Zinc and fixed the royalty percentage at 1.7%.