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Aadhar Housing Finance, Indegene, TBO Tek set to drive primary market with ₹6,400 crore IPO blitz this week
The primary market is gearing up for significant activity this week, with three companies — Blackstone-backed Aadhar Housing Finance, healthcare tech firm Indegene and travel distribution firm TBO Tek — poised to float IPOs aiming to collectively raise nearly ₹6,400 crore.
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Belstar Microfinance plans IPO to raise ₹1,300 crore
Belstar Microfinance Ltd, a subsidiary of Muthoot Finance, has filed a DRHP with SEBI to raise ₹1,300 crore. The company plans to raise the funds through IPO of equity shares with a face value ₹10 each.
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Stocks that will see action today May 6, 2024
Paytm’s parent company One97 Communications president and chief operating officer Bhavesh Gupta has resigned from the company, an official statement said. Gupta steered the lending business, online and offline payments, and compliances, at Paytm. Verticals, headed by him were adversely impacted by the RBI’s ban on Paytm Payments Bank (PPBL) from carrying on new transactions.
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Huang Renxun’s latest interview: AI will not completely replace human work
Nvidia CEO Jensen Huang believes that artificial intelligence will change the world, but human jobs will not disappear.
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MFs close in gap with bank deposit on back of strong growth, new investor addition
Thanks to uninterrupted bull run and renewed interest in equity investment, the quantum of assets under management of the mutual fund industry accounts for 26 per cent of the bank deposit as of March-end against 21 per cent logged in FY23.
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Motilal Oswal bullish on telecom stocks amid tariff hike expectations
A recovery is in the offing in India’s telecommunications sector, with potential tariffs hikes and a shift to high-speed networks set to bolster revenue, according to a top-performing fund manager.
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Glenmark Pharmaceuticals receives ANDA approval for acetaminophen and ibuprofen tablets
Glenmark Pharmaceuticals Ltd. has received final approval from the United States Food & Drug Administration (USFDA) for Acetaminophen and Ibuprofen tablets, 250 mg/125 mg (OTC).
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Tesla to lay off 693 workers at Nevada factory
Tesla will reportedly lay off 693 employees at its Nevada factory as part of a 10% global layoff plan announced earlier this month
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Latest inflation data reinforces Powell\’s shift to keeping interest rates high for longer
Federal Reserve Chairman Powell sent a message last week: the current high interest rates will continue; the latest inflation data released on Friday reinforced this message
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Reading the markets through volatility index
Volatility index or India VIX last week captured traders’ attention when it plunged nearly 20 per cent during intra-day on April 23, to 9.8, even as the process of General Elections to the Lok Sabha just began. However, the index bounced back a little and is currently ruling around 11. The sudden fall caught a lot of traders, who indulge in strategic option strategies such as strangle and straddle, off-guard as the premium dipped sharply. This also signalled that traders are more complacent.