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Vedanta Ltd initiates a qualified institutional placement (QIP) to raise funds, starting at a floor price of ₹461.26 per share. The aim is to raise ₹6,000 crore with an option for an additional ₹2,000 crore. Proceeds will be used for debt reduction and capital expenditure.

​There is a higher probability that either they will be eased out or will be expanded to add up more industries or to that extent more companies to participate in this overall scheme of things, as the stability of the new government seems to be a new attraction for the medium-term capex to come through.

Large-cap IT is okay for risk control if a sharp up-move is expected. Otherwise, Motilal Oswal stays away, says Prateek Agrawal. The managers are interested in mid and small-cap IT where if a company is focused on a space that is growing, the growth delta over large-cap is very high.

Since we are a global research house and we look at the data very closely, the money flow towards equity as an asset class is actually inching up. Given this background, we are saying that implied volatilities of various asset classes can spike or move up, which can lead to a risk-off phase in certain pockets or certain markets.

Sensex and Nifty hit record highs, driven by PSU banks and foreign inflows. Aurobindo Pharma rose 20%, with an overbought RSI, trading 9.5% above the mean. Tanla Platforms nears its 50-week average, trading sideways. IDBI Bank shows strong demand at 76, with the highest quarterly trading volume, and momentum approaching breakout.

Domestic markets saw positive trends with various companies like Bajaj Auto, SpiceJet, and Jio Financial making news. Vedanta launches QIP issue, while HDFC AMC reports profit jump. Updates on Angel One, Vodafone Idea, Unichem Labs, and more. Stay informed on the latest developments in the financial sector.

Interest income fell 20% to Rs 162 crore in June 2024 from Rs 202 crore a year ago while expenses increased to Rs 79 crore from Rs 54 crore a year ago, mainly as staff expenses increased more than three time to Rs 39 crore in June 2024.

Spicejet’s net profit had stood at Rs 17 crore in the corresponding period last year, according to the company’s statement. Ajay Singh, chairman and managing director of SpiceJet, said, “The results reflect our relentless efforts to enhance operational efficiency and our commitment to turning around the company’s fortunes."