The IPO lane is getting busy with three entities — Rashi Peripherals, Jana Small Finance Bank and Capital Small Finance Bank– set to float their maiden public issues on Wednesday to collectively mobilise around Rs 1,700 crore. Additionally, Entero Healthcare Solutions will launch its Rs 1,600-crore initial share-sale on February 9. Further, the Rs 920-crore IPO of Apeejay Surrendra Park, which runs hotels under the “The Park” brand, is currently under subscription.
Last month, five firms tapped the primary market and garnered around Rs 3,266 crore. Market experts maintain a strong bullish outlook on the IPO (initial public offering) market for 2024. Companies are expecting to benefit from an equity market which is flush with liquidity and has seen a sharp increase in new retail investors.
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Oil prices were on track to gain for a second straight day on Tuesday after settling up more than a dollar on expectations of tighter supply driven by Russian production cuts and attacks on Russian refineries. Brent crude rose 23 cents to $86.98 a barrel by 0118 GMT. U.S. crude futures climbed 28 cents to $82.23. Crude oil gained on supply side issues and continued Middle East tensions, according to a note from ANZ analysts.
Both contracts settled $1.32 higher in the previous trading session. Russia told its oil companies to reduce output to meet an Organization of Petroleum Exporting Countries (OPEC) target of 9 million barrels per day (bpd). In late February, Russia had been producing about 9.5 million barrels per day.
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At the same time, Ukranian attacks on Russian oil refineries have continued. Russia’s Kuibyshev refinery had to shut half of its capacity after a fire b…
GIFT Nifty traded up 68 points or 0.36% at 19,096, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Monday. Previously on Friday, the NSE Nifty 50 soared 190 points or 1.01% to settle at 19,047.25, while the BSE Sensex climbed 634.65 points or 1.01% to 63,782.80.
“Ongoing unrest in West Asia and concerns over the potential impacts of higher interest rates on future economic growth have resulted in a decline in investor confidence. FIIs selling is affecting the domestic market invariably to heavy buying by DIIs. Domestic indices have displayed some recovery in the last trading day of the week, due to favourable US Q3 GDP growth and moderating US inflation leading to moderation in bond yield. Decent Q2 results in India, which were in line with optimistic estimates, may also support the market’s rebound. However, the volatility of the global market is expected to delay the recovery trend of the domestic market, since the gl…