Vedanta aims to create six independent, listed companies, each focusing on a specific sector: Vedanta Aluminium, Vedanta Oil and Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals, and a residual Vedanta Limited. The demerger process has received approvals from a majority of creditors and is currently awaiting […]
IPO Details: The IPO is closed now (July 9th, 2024) and expected to list on July 12th on the NSE SME platform. IPO Type: SME IPO Issue Size: ₹125.23 Crore Issue Period: July 5th, 2024 – July 9th, 2024 (Closed) Allotment Expected: Today, July 10th, 2024 (tentative) Listing Expected: July […]
Company Background: Established in 1985, specializing in stainless steel wire. Operates in 3 sectors: high carbon steel, low carbon steel, and stainless steel wire. Diverse product range with over 3,000 steel wire products. Wide customer base of over 5,000 clients. IPO Details: Listed at ₹356 on NSE, a 39% premium […]
Hurricane Beryl’s impact limited: Initial fears of disruption to oil production in Texas from Hurricane Beryl subsided as the storm caused less damage than expected. Oil prices down: This positive development led to a decline in oil prices. Brent crude futures fell 0.45% to $85.36 per barrel, and WTI crude […]
The Nifty 50, a stock market index in India, closed higher on Tuesday, July 9th, 2024 forming a long bull candle on the daily chart. This signals a potentially bullish trend for the market. Breakout: Nifty overcoming the resistance level of 24,400 indicates increased buying pressure and bullish sentiment among […]
Show drafts Ola Electric has a strong chance of becoming a dominant player in the electric two-wheeler (e2W) market in India, similar to Maruti Suzuki’s position in petrol vehicles. Market Leadership: Ola Electric currently leads the e2W market share in India with almost half the sales in Q1 FY 2024-25. […]
Opening: Sensex and Nifty opened positively despite expectations of volatility. Sensex :Up 169.52 points to 80,129.90 Nifty : Up 43.25 points to 24,363.80 Market Analysis: Focus shifting towards upcoming earnings reports from Indian companies. Analysts predict a flat to slightly positive earnings growth for Q1 FY25. Key sectors like […]
Tesla shareholders are challenging a massive legal fee request in the ongoing saga of Elon Musk’s compensation package. Lawyers who successfully argued against Musk’s $56 billion pay plan are seeking a record-breaking $7 billion fee, likely in Tesla stock [Bloomberg Law]. Tesla, on the other hand, argues this fee is […]
The Nifty 50, a benchmark stock market index in India, is currently trading around 24,320 in a range bound manner. This means the index is fluctuating within a specific price range without any significant upward or downward trend.
Market Performance: Both Sensex and Nifty opened slightly negative on Monday, July 8th, 2024, despite recent record highs. The Sensex fell 152.55 points and the Nifty dropped 29.90 points compared to their previous closing. Reasons for the Dip: Analysts point towards concerns about high valuations and awaiting cues like the […]