On Wednesday, crypto exchange Kraken announced job cuts a person familiar with the matter said amounts to 15% of workers, while rival Coinbase Inc. reported earnings that missed estimates. Software developer Consensys is among other digital-asset firms that recently started trimming jobs.
Sahajanand Medical Technologies prepares for market debut with Rs 2,000 crore IPO
Mumbai-based stent manufacturer Sahajanand Medical Technologies is planning to raise up to ₹2,000 crore through an IPO, aiming to fuel global growth. Majority stakeholders Morgan Stanley PE Asia and Samara Capital are expected to partially exit their investment, while the company seeks to strengthen its leadership in India’s drug-eluting stent market.
UPL, chairman Jaidev Shroff settle case with Sebi over trading violations, pay Rs 20.2 crore
United Phosphorous Ltd and its chairman Jaidev Shroff have settled with Sebi by paying ₹20.2 crore. Sebi’s investigation revealed that the company, with Shroff’s assistance, misrepresented shareholding and routed funds via overseas accounts to trade in its own shares, making a wrongful gain of ₹4.2 crore.
China’s central bank injects $70 billion into economy with new liquidity tool
China’s central bank, the PBOC, injected 500 billion yuan ($70 billion) into money markets via a new reverse repo tool to maintain liquidity in the banking system. This comes as banks face funding pressure and reduced savings, with additional government debt expected to further strain liquidity.
In Samvat 2081, be neutral weight in all asset classes; 3 sectors to be wealth creators in equity: Ashish Shankar
Ashish Shankar, MD & CEO of Motilal Oswal Private Wealth, forecasts a positive outlook for Indian equities due to strong domestic factors. He advocates for a balanced portfolio with investments in equities, gold, and debt products. Shankar identifies digital sectors, capital markets, and real estate as key wealth creators in Samvat 2081.
Swiggy sets price band at Rs 371-390 for Rs 11,327 crore IPO. Check details
On Wednesday, online food delivery company Swiggy announced the price band for its upcoming IPO, set at Rs 371-390 per share, raising a total of Rs 11,327.43 crore. The offering includes a fresh issue of shares worth Rs 4,499 crore, along with an offer for sale (OFS) of 17,50,87,963 equity shares.
Voltas shares in spotlight as co posts 269% YoY jump in Q2 PAT
Shares of Voltas are expected to be in the spotlight on Wednesday after the company reported a 269% year-on-year (YoY) surge in consolidated net profit, reaching Rs 133 crore for the September quarter, compared to Rs 36 crore in the same period last year. This growth was primarily driven by a 56% increase in volume from its room AC business.
Godavari Biorefineries shares to debut today. GMP hints at flat listing
Godavari Biorefineries is set to debut on the exchanges on Wednesday, with its shares currently trading at a grey market premium (GMP) of Rs 5. Given the upper price band of Rs 352, the stock is anticipated to experience a flat or possibly negative listing.
North India leads NSE’s investor base at 3.7 cr followed by West at 3.2 cr and South at 2.1 cr
The retail investors are on continues surge in the Indian stock markets, a recent report by National Stock Exchange (NSE), highlighted that around 37 lakh new retail investors joined NSE in September taking the total investor base to 10.37 crores.
30% price surge in gold since last Dhanteras. Here’s your 6-point shopping guide
Gold sees a 30% price surge since last Dhanteras. Experts suggest continued investment, forecasting potential returns of 10-12% by the next Dhanteras amid geopolitical and economic uncertainties. Options include physical gold, ETFs, digital gold, and futures, though SGBs face liquidity challenges.