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After allegations of manipulation and collusion by big global banks, the end of Libor began in 2017, with 2023 decided as the last year in the transition road. By end-2021 many banks had stopped drawing contracts using Libor and June 2023 was set as the deadline for replacing the guiding rate.

Asian stocks struggled Thursday in the wake of a slump on Wall Street after Treasury Secretary Janet Yellen rattled bank shares and the Federal Reserve pushed back against bets for interest rate cuts this year. Benchmark indexes fell in Japan, South Korea and Australia while a gauge of US-listed Chinese companies fell earlier.

The union government will sell up to 3.5% stake in Hindustan Aeronautics Ltd (HAL) through an offer for sale (OFS). The floor price for the OFS has been fixed at Rs 2,450 per share.

The stock hit a 52-week high of Rs 2,741 on 9th December 2022, but it failed to hold on to the momentum. The stock closed at Rs 2,463 which translates into a downside of about 9%.

NSE reintroduced the DNE facility in April 2022 after discontinuing in October 2021 after brokers complained of trading mishaps during the expiry of equity derivatives contracts with traders unable to meet their settlement obligations connected to physical delivery.

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In a separate transaction, Small Cap World Fund Inc sold shares of Kajaria Ceramics for Rs 130 crore through an open market transaction.

According to market sources, the grey market premium of Global Surfaces shares fell to around Rs 9-10 from Rs 15 earlier. If we consider the upper price band of Rs 140, the company shares are expected to list at a 7% premium over the issue price.

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About 50% of the offer will be available for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Bidders, and not less than 35% will be reserved for retail investors. The offer also includes a reservation for subscription by eligible employees.