BUSINESS
Zomato IPO subscribed over 38 times at the end of final day of issue
According to data on the BSE website, qualified institutional buyers (QIB) subscribed 51.79 times of their earmarked portion. The portion of the non-institutional investors was subscribed 32.96 times. Further, retail investors subscribed 7.45 times of the portion allocated to them. The portion reserved for employees was subscribed 0.62 times. The subscription period for Zomato IPO was available till 5 p.m. on Friday.
Internet-related stocks on a dream rally amid the pandemic
On the stock of IndiaMart InterMesh, the report said that while its leadership in online B2B classifieds, strong networking effect, and solid financials, growth recovery looks elusive given the challenges faced by its client base, the normalisation of its operating margin as pandemic cost savings retract is likely to weaken EPS growth (15 per cent FY21-FY24E CAGR).
India's June YoY engineering goods exports rises by 52.4%
Engineering exports, which rose to $6.27 billion in June 2019, and $5.84 billion in June 2020, rose to $8.90 billion in June 2021. "Cumulative engineering exports during April-June 2021-22 were to the tune of $24,772.6 million, witnessing a massive growth of 82 per cent vis-a-vis April-June 2020-21, and growth of 24.8 per cent vis-a-vis April-June 2019-20," an official statement said.
Gold futures decline on global cues, US Fed's tapering concerns
HDFC Securities' Senior Analyst for Commodities, Tapan Patel, noted that gold prices traded weak with COMEX spot gold prices were trading down near $1,823 per ounce on Friday. "We expect gold prices to trade sideways to down for the day with COMEX gold support at $1,810 and resistance at $1,840 per ounce. MCX Gold August support lies at Rs 48,000 and resistance at Rs 48,500 per 10 gram," Patel added.
NTPC invites bids for Development of Waste to Energy Facility in Varanasi
The bid commenced on 22nd June 2021 and will conclude on 27th July 2021. The Varanasi Waste to Energy (WTE) facility is expected to be commissioned by 30th September, 2022. A Waste to Energy plant with waste segregation facility of 600 TPD fresh Municipal Solid Waste will be installed under the project. The plant will be designed in a modular fashion.
Paytm files for mega Rs 16,600 cr IPO with SEBI
In the draft red herring prospectus, the company said that it will issue fresh shares worth Rs 8,300 crore and the existing shareholdrs will sell stake worth up to Rs 8,300 crore through offers for sale (OFS). Paytm's founder Vijay Shekhar Sharma, Alibaba.com Singapore, Antfin (Netherlands), Elevation Capital, Saif Partners, SVF Panther (Cayman) and BH International Holdings will sell stake in the OFS.
OYO raises $660 Million through debt funding
OYO on Friday announced that it has raised a TLB (Term Loan B) funding of $660 million from global institutional investors. A company statement said that the offer was oversubscribed by 1.7 times and the company received commitments of close to $1 billion from leading institutional investors.
Air travel may become expensive as jet fuel prices increase again
In the National capital, ATF prices for domestic airlines increased by 2.44 per cent from Rs 68,262.35 per kilo litre on July 1 to Rs 69,857.97 on July 16. In Mumbai too ATF rose from a level of Rs 66,482.90 per Kl to Rs 68,064.65 per Kl on Friday. The move is expected to make air travel more expensive, further impacting demand.
FedEx invests Rs 100 million in Delhivery to unlock India's cross-border trade
FedEx Express, a subsidiary of FedEx Corp and homegrown logistics and supply chain services company Delhivery on Friday announced they have entered into a pact to unlock India's international trade potential. FedEx will make a $100 million equity investment in Delhivery as part of the deal. The companies will enter into a long-term commercial agreement.
Sensex, Nifty turn flat after touching new highs
The BSE Sensex touched an all-time high of 53,290.81 and the Nifty50 on the National Stock Exchange hit a record level of 15,952.35 points. Healthy buying witnessed in telecom, metal and healthcare stocks, while banking stocks fell. Around 10.20 a.m., Sensex was trading at 53,149.24, lower by 9.61 points or 0.02 per cent from its previous close of 53,158.85.
Don't Miss
Advertisement