Market Bizzz

The IPO includes a fresh issue of ₹180 crore and an offer for the sale of up to 3.93 million equity shares. The company intends to meet capital expenditure requirements for the purchase of equipment and machinery from the net proceeds of the fresh issue.

Fourth-quarter operating profit fell 8% due to foreign currency losses and lower gains from investments. Berkshire also bulked up its cash hoard, ending the year with $128.6 billion.

“However, the credit expansion may come with the problem of compressed NIMS. Consumer durables are the sector to avoid due to inflation worries and interest rate hikes, which may affect peak season demand around the summertime”.

Indian Prime Minister Narendra Modi’s government has for several years debated drafting a law to regulate or even ban cryptocurrencies but has not made a final decision. The Reserve Bank of India has said that cryptocurrencies should be banned as they are akin to a Ponzi scheme.

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Lower trading volumes contributed to the volatility, with Brent trading at 42% and WTI trading at 64% of the previous session’s levels

In 2020, PAG had invested in the wealth management business of Edelweiss Financial, and the company had then announced the demerger and subsequent listing of the business

Japan’s five-year government bond yield fell a little to 0.235%, from the previous close of 0.240%. Ten-year bonds did not trade early on Friday, due to thin liquidly, but bond futures extended gains.