GAIL India trades ex-bonus
Blue Star bags orders worth Rs 390 crore from Bangalore Metro Rail Corporation:
Aster opens its 200th pharmacy in India
Tamilnad Mercantile Bank IPO updates:
The maiden public issue of Tamilnad Mercantile Bank continued to see good participation on September 6, the second day of subscription. The offer received bids for 86.12 lakh shares against IPO size of 87.12 lakh shares, getting subscribed 99 percent.
Retail investors remained ahead in terms of subscription, booking their quota 2.03 times, while non-institutional investors bought 82 percent of their reserved portion. Good response was also seen from qualified institutional investors with their portion getting subscribed 73 percent.
#OnCNBCTV18 | Manishi Raychaudhuri of BNP Paribas adds, sectors like defence & renewable energy will do well in coming years pic.twitter.com/1CRc6xdaY7
— CNBC-TV18 (@CNBCTV18Live) September 6, 2022
NDTV Large Trade | 3.3 lakh shares (0.5% equity) worth Rs 18.6 crore change hands at Rs 560 per share
DreamFolks Services debuts with 56% premium, opens at Rs 509:
Airport service aggregator platform DreamFolks Services listed with a strong 56 percent gains on September 6, which was better than analysts’ expectations and grey market premium of 30-40 percent. The stock opened at Rs 505 on the BSE, against issue price of Rs 326, and the opening tick on the NSE was Rs 508.70.
Healthy initial public offering (IPO) subscription, positive market conditions, leadership in airport lounge aggregation industry, and asset light business model boosted investor confidence. The Rs 562 crore IPO had received strong response from investors, getting subscribed 56.68 times during August 24-26. It was entirely an offer for sale by shareholders.
Market update at 10 AM: Sensex is up 32.02 points or 0.05% at 59278, and the Nifty added 8.50 points or 0.05% at 17674.30.
Kuwait’s Jazeera Airways has selected RateGain’s AirGain product to dynamically adjust prices with real-time, accurate, and high-quality airfare data
Gold prices today: Yellow metal may find support in crude price rise, resistance at Rs 50,750
Tapan Patel, Senior Analyst (Commodities), HDFC Securities expects gold prices to trade sideways to up for the day with COMEX Spot gold support at $1700 and resistance at $1740 per ounce. MCX Gold…
Gautam Adani commits to commissioning 1600MW power project & transmission line to Bangladesh by mid-Dec
India inflation rate likely rose to 6.9% in August: Deutsche Bank:
Deutsche Bank estimates that India’s consumer price index (CPI) firmed to 6.9% year-on-year in August, while core inflation likely stood at 6%.
“Key vegetables tend to shoot up during this period,” said Kaushik Das, chief economist for India and South Asia at Deutsche Bank. Besides seasonality, Das highlighted that sowing of pulses has also fallen by 5% year-on-year.
“These could be potential risk factors, which could keep food inflation momentum high, consequently resulting in an elevated CPI closer to the 7% mark,” he said.
The Reserve Bank of India will continue with rate hikes, likely delivering another 75 bps to 85 bps bump up in the rest of this financial year, Das said.
