Latest Stock Market News

Beezaasan Explotech is launching its Rs 60 crore SME IPO to be listed on the BSE SME platform, offering 32.24 lakh fresh equity shares at a price band of Rs 165-175. The IPO, open from February 25 to investors, targets various industries like construction and metal mining with its explosive products.

The two MD roles would have fallen vacant in June this year. After interviewing eight candidates, the bureau selected Pant and Patnaik based on their strong interview performance and extensive experience, said a notification on its website.

The committee is expected to submit its report within three months. Based on its recommendations, the IRDAI will forward proposals to the finance ministry, while the Department of Financial Services will draft a new bill for stakeholder feedback.

At the Commodity Derivatives Advisory Committee (CDAC) meeting chaired by Sebi chief Madhabi Puri Buch early this week, stock exchanges were directed to submit proposals aligned with contract specifications agreed upon by the market regulator Sebi and Central Electricity Regulatory Commission (CERC), said people aware of the development.

In a parallel development, the RBI did not accept bids for the 91-day and 182-day treasury bills at an auction held on Thursday. However, it accepted ₹7,000 crore worth of bids for the 360-day auction at 6.5638%.

This will allow the mining conglomerate to list its businesses - aluminum, oil & gas, power, steel - as separate units. At present, these businesses are subsumed within Vedanta, while Hindustan Zinc, which includes revenue streams from white metals zinc and silver, is listed separately. After the Merger, Vedanta will hold the Hindustan Zinc business.

The Burman family has officially taken over Religare Enterprises Ltd (REL) and plans to infuse ₹2,000 crore by subscribing to preferential shares, increasing their stake to over 50%. They aim to rebrand Religare and appoint a new management team to transform it into a competitive non-banking financial company.

Australian shares edged higher while those in Japan ticked down due to the stronger local currency. Equity index futures pointed to initial gains in Hong Kong after a gauge of US-listed Chinese shares climbed as Alibaba Group Holding Ltd. announced its fastest pace of revenue growth in more than a year.

Samvardhana Motherson incorporated the arm Motherson Treasury Strategy within the jurisdiction of Abu Dhabi Global Market, United Arab Emirates.

The Nifty Auto index closed 1.22 per cent up at 22074.9.