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Markets Rally Ahead of Fed Decision: Sensex Gains 600 Points, IT and Broader Markets Lead Surge
Markets Rally Ahead of Fed Decision: Sensex Gains 600 Points, IT and Broader Markets Lead Surge Market Overview Indian equity markets extended their winning streak for the second consecutive session, with the Sensex closing up 654 points at 76,555 and Nifty gaining 206 points to end at 23,163. The rally came ahead of the Federal…
The Mother of All Indian IPO’s : Will 2025 Witness the Largest-Ever Listing?
The year 2024 has been remarkable for India’s stock market, with initial public offerings (IPO’s) dominating the financial landscape. Companies such as Hyundai Motors India, Bajaj Housing Finance, Swiggy, NTPC Green Energy, and OLA Electric raised significant funds, contributing to a record-breaking year. As of now, eight IPO’s are opening this week alone, pushing equity…
Tragedy Strikes Mumbai Waters: Search Operations Continue for Missing Passengers
Mumbai was shaken by a devastating boat accident on Wednesday evening when a private ferry, the Neel Kamal, capsized following a collision with a Navy speedboat undergoing engine trials. The incident occurred near Karanja, Mumbai, around 4 pm, leaving two passengers—a man and a child—still missing as of Thursday. The tragic event has claimed the…
Inventurus Knowledge Solutions IPO Listing: Strong Debut on BSE and NSE
The much-awaited stock market debut of Inventurus Knowledge Solutions finally came with the equity shares of the company getting listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, December 19, 2024. This health technology firm’s IPO is supported by Rekha Jhunjhunwala and has drawn a significant amount of attention from…
Vishal Mega Mart IPO: Stellar Stock Market Debut with 41% Premium
Vishal Mega Mart, one of India’s largest and most popular retail chains, has been in the news lately with its recent Initial Public Offering (IPO). Structured as an Offer For Sale (OFS), the IPO allowed existing shareholders to monetize their investments while providing the public an opportunity to participate in the company’s growth story. With…
GST Hike to 35% on Tobacco, Aerated Drinks, and Cigarettes: Key Proposals by the GoM
GST (The Goods and Services Tax ) regime in India is poised for a significant shift as the Group of Ministers (GoM) on GST rate rationalization has recommended introducing a new 35% tax slab for demerit goods, including tobacco, cigarettes, and aerated beverages. This marks a substantial increase from the current top tax slab of…
Shashi Ruia: A Visionary Industrialist Who Redefined India’s Business Landscape-passed at the age of 80.
Shashi Ruia, passed at the age of 80, co-founder of the Essar Group and one of India‘s most iconic industrialists, bid farewell to the world on November 25, 2024. End Known for his visionary leadership, humility, and commitment to excellence, Shashi leaves behind a legacy that transformed India‘s industrial and corporate landscape. A Life Dedicated to Innovation and Growth Born to a…
Adani Group Faces Setback: Leadership Indicted in US, Pulls ₹5,000 Crore Dollar Bond Offering
The Adani Group, one of India’s largest conglomerates, finds itself mired in a legal storm following the United States Department of Justice (DOJ) indictment of its chairman, Gautam Adani, along with seven associates. The charges pertaining to an alleged ₹2,000 crore bribery scandal have shaken the global market and precipitated massive sell-offs in stocks related to the Adani Group. The Indictment: A New Chapter in the Adani Saga The indicted DOJ lists names such as Gautam Adani as well as other senior company and board members including Sagar Adani,…
Market Watch: Sensex and Nifty 50 Fall as Selling Intensity Increases
Indian equities witnessed intensified selling pressure for the second consecutive session today, where the benchmark indices turned red as the day progressed from a positive beginning. The BSE Sensex and NSE Nifty 50 had traded in green during the opening session before their turnaround in view of widespread selling, driven by sharp declines in Adani Group stocks. Market Opening: Bulls Lose Momentum The Nifty 50 index opened with a gain of 64.70 points or 0.28% at 23,518.50, while the BSE Sensex jumped 132.73 points or 0.17% to open at 77,711.11. But those gains too turned out to be short-lived as selling pressure drew both the indices into the red. Adani Group Stocks Crash At the adverse end…
MGL, IGL Shares Dip 20% as City Gas Distribution Firms Reap Further Gas Cut
MGL, IGL Shares Dip 20% as City Gas Distribution Firms Reap Further Gas Cut On November 18, 2024, stocks of two major city gas distribution companies—Mahanagar Gas (MGL) and Indraprastha Gas Ltd. (IGL)—plummeted nearly 20% after the government announced a second successive reduction in its Administered Price Mechanism (APM) gas allocation. This cut is expected…
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