NTPC Green Energy’s IPO opens on November 19 and closes on November 22. The company aims to raise Rs 10,000 crore. NTPC Green is India’s largest renewable energy public sector enterprise. Its portfolio includes 14,696 MWs of operating and contracted projects. The renewable energy sector in India is growing significantly.
Gold prices dip 6% amid stronger Dollar and US inflation concerns
Gold prices have plummeted by 6% since Diwali, dropping to Rs75,920 per 10 grams due to a surging US dollar and higher-than-expected US inflation data. This has raised concerns about potential pauses in Federal Reserve rate cuts, further impacting gold prices.
IPO Calendar: NTPC Green to tap primary market along with 2 other issues next week
NTPC Green Energy’s IPO worth Rs 10,000 crore opens on November 19. Lamosaic India and C2C Advanced Systems will also launch their IPOs in the SME segment. Additionally, Zinka Logistics Solutions will list on the exchanges.
Royalty payments by some listed companies exceed 20% of profits
A new study by the Securities and Exchange Board of India (SEBI) has revealed that listed companies in India frequently pay substantial royalties to related parties, often exceeding 20% of their net profits. The regulator is considering stricter regulations, including cumulative royalty limits and sunset provisions, to address concerns about potential financial risks and shareholder value erosion.
Zomato, Jio Financial could join Nifty, says JM Financial
If included, Zomato and Jio Financial Services could see inflows worth $607 million and $372 million, respectively, said JM. BPCL and Eicher Motors could see outflows of $223-$239 million.
RIL shares at an attractive entry point, says CLSA
CLSA believes Reliance Industries’ stock presents a good buying opportunity at its current price, predicting a potential 30% rise. Despite recent declines attributed to delays in Jio and Retail IPOs, the firm emphasizes the upcoming launch of new energy projects as a significant catalyst.
Buy State Bank of India, target price Rs 1,000: Motilal Oswal Financial Services
Motilal Oswal Financial Services recommends buying State Bank of India shares, projecting a target price of Rs 1,000. The bank reported strong recent quarterly earnings fueled by treasury income and steady growth. While margins slightly dipped, the bank anticipates maintaining them. Credit growth appears healthy, and asset quality has improved, leading to a decrease in bad loans.
Bitcoin briefly tops $93,000 on Trump agenda, Fed policy outlook
Bitcoin reached a new high, driven by expectations of interest rate cuts and pro-crypto policies from President-elect Trump. The cryptocurrency market experienced volatility as investors assessed the sustainability of the rally. Trump’s support for crypto, including potential regulatory changes and a strategic Bitcoin reserve, fueled market speculation. However, the feasibility and timeline of these plans remained uncertain.
Selling not over; looking at 23,300 or 23,100 once Nifty breaches 23,500: Rohit Srivastava
Indian stock markets, particularly the Bank Nifty, are experiencing a significant downturn, with analysts predicting further declines. Rohit Srivastava of Strike Money Analytics suggests that selling pressure persists and highlights key support levels to watch. He attributes the weakness to a global trend of selling in non-US markets, potentially driven by a strengthening dollar impacting emerging market flows.
BSE shares in focus after Q2 profit skyrockets 193% YoY to Rs 346 crore
Shares of leading exchange BSE will be in focus on Wednesday after the company reported a 193% year-on-year growth in consolidated net profit, reaching Rs 346 crore for Q2, up from Rs 118 crore in the same period last year.