HDB Financial Services shares surged over 4% to Rs 874.90 on Thursday, following a successful exchange listing the previous day. Trading at Rs 876.3, it marked an 18.43% increase over the listing price. The IPO, comprising a fresh issue and offer-for-sale, saw substantial investor interest, being oversubscribed 16.69 times. Qualified Institutional Buyers showed particular enthusiasm,…
Reliance Industries plans to consolidate its FMCG brands into a new entity named New Reliance Consumer Products Ltd (New RCPL), a direct RIL subsidiary. This restructuring aims to attract specialized investors and facilitate a potential stock market debut for the retail division.
Zerodha CEO Nithin Kamath views Jio-BlackRock’s entry into India’s stockbroking positively, anticipating broader retail participation due to Jio’s extensive network. While welcoming the competition, Kamath emphasizes Zerodha’s focus on sustainable investing and ethical practices, prioritizing customer success over aggressive trading tactics. He believes true competition will arise from passionate, dedicated entrepreneurs rather than large corporations.
The US House advanced President Trump’s tax and spending bill, overcoming initial Republican opposition. The bill, previously passed by the House and narrowly cleared by the Senate, aims to increase military spending, fund deportation programs, and extend tax cuts.
India is actively pursuing a social security agreement with the United States, aiming to provide financial relief to Indian professionals working there. This initiative is part of a broader strategy to incorporate such pacts into all future free trade agreements, including ongoing negotiations with the US and the EU.
China is increasingly worried about US efforts to forge agreements with allies, potentially isolating Chinese firms from global supply chains. Washington is actively negotiating deals with Asian and European partners to limit China’s involvement, citing unfair trade practices.
Nykaa’s shares experienced a dip following a significant block deal. Early investors Harindarpal Singh Banga and Indra Banga planned to sell part of their holdings. The transaction involved approximately 6 crore shares. Global investment banks oversaw the sale. Nykaa is aiming for its fashion segment to break even by FY26.
India’s decision to rest Jasprit Bumrah for the second Test against England has drawn criticism, especially from former players like Kumar Sangakkara, Ravi Shastri and Dale Steyn. With India trailing 0-1 in the series, the team management’s decision to stick to a pre-decided plan of resting Bumrah has raised questions about their approach to crucial…
Indian e-commerce giants Swiggy and Eternal are outperforming domestic indices and Asian peers, fueled by the rapid growth of quick commerce. This sector, projected to reach $100 billion by 2030, sees established players like Swiggy, Zomato’s Blinkit, and Zepto maintaining market dominance due to efficient delivery and established supply chains, contrasting with challenges faced by…
