Premier Explosives bags order worth Rs 44.58 crorePremier Explosives has signed a contract with Ministry of Defence (Army) at New Delhi for supply of NFM – new family of Munitions for a total value of Rs 44.58 crores (including GST), to be delivered within twenty four months from the effective date of contract. The production of these items will be done from company’s facility at Katepally, company said in its release.
Adani Green approves allotment of 2 crore shares to Green Energy Investment
The management committee of Adani Green Total, at its meeting held today approved allotment of the equity shares of the company by way of private placement on a preferential issue basis to Green Energy Investment Holding RSC.
The Equity Shares will be listed on BSE Limited and the National Stock Exchange of India Limited.
Adani Total Gas was quoting at Rs 2,229.00, down Rs 110.10, or 4.71 percent on the BSE.
Indian Oil Corporation to consider bonus issue on May 17The board meeting of Indian Oil Corporation (IOC) is scheduled on May 17, 2022, to consider and approve standalone as well as consolidated audited financial results of the company for the quarter and year ended March 31, 2022 and declaration of final dividend for the financial year 2021-22.Indian Oil Corporation Ltd has now informed BSE that the Board of Directors of the ompany may consider issue of bonus shares in the aforesaid board meeting.
Gold Prices Today: Strong US dollar, further interest rate hikes to cap yellow metal’s gains
Higher inflation makes safe havens more appealing, driving up demand for precious metals. However, rising interest rates will limit gold’s gains, and selling pressure is predicted in today’s session…
Do you think the selloff could worsen, with Nifty breaching 16,000?
— Moneycontrol (@moneycontrolcom) May 12, 2022
Unscheduled meetings: Behind the scene of May 4 surprise repo rate hike by RBI
The RBI’s repo rate hike on May 4 caught everyone by surprise. But the central bank had started talks about convening its rate-setting panel right after its April 8 meeting
Nifty is down over 2 percent or 339.90 points at 15827.20. Hindalco, IndusInd Bank, Adani Ports and Tata Motors are the top losers.
#OnCNBCTV18 | There could be a possibility of recession in the US in second half of next year. Don’t expect US CPI to go below 3-4%, says Jitania Kandhari of Morgan Stanley pic.twitter.com/lBHQvgzVsl
— CNBC-TV18 (@CNBCTV18Live) May 12, 2022
Venus Pipes and Tubes IPO updates:
The initial public offering of Venus Pipes and Tubes had been subscribed 2.83 times by the morning of May 12, Day 2 of the bidding, with investors sending in bids for more than 1 crore shares against an IPO size of 35.51 lakh shares.
Retail investors have bid 4.95 times of the shares set aside for them, while non-institutional investors’ portion has been subscribed 1.16 times. Qualified institutional buyers have subscribed 36 percent of their quota of 10.14 lakh shares.
Delhivery IPO updates:
The initial public offering of logistics services provider Delhivery was subscribed 22 percent against IPO size of 6.25 crore shares on the second day of bidding. Retail investors bid for 32 percent of the shares reserved for them, while employees booked 8 percent of their portion.
Non-institutional investors bid for 1 percent shares of the allotted quota while qualified institutional buyers have subscribed 29 percent.
Prudent Corporate Advisory Services IPO updates:
The public issue of Prudent Corporate Advisory Services has received bids for 35.47 lakh equity shares against an offer size of 60.18 lakh equity shares, subscribing 59 percent on May 12, the final day of bidding. Retail investors have bought 109 percent of the allotted quota and employees bid for 70 percent shares of the reserved portion.
The part set aside for non-institutional investors has been booked 20 percent, while qualified institutional buyers have purchased 966 equity shares against 16.87 lakh shares set aside for them.
Market Update at 11 AM: Sensex is down 993.50 points or 1.84% at 53094.89, and the Nifty tumbled 312.60 points or 1.93% at 15854.50.
