NSE imposes price control cap of 90% on SME IPOs

NSE will enforce a 90% price control cap on SME IPOs starting July 4. This comes amidst concerns of excessive speculation in the SME stock market. NSE aims to standardize price discovery in SME IPOs to prevent inflated listing day gains seen in recent offerings. Sebi is investigating potential misuse of the SME listing framework.

Binance Fined $2.25 Million in India for Breaching Anti-Money Laundering Regulations

India’s FIU fines Binance $2.25 million for breaching anti-money laundering laws. Binance, the world’s largest crypto exchange, failed to comply with India’s PMLA regulations. The financial watchdog imposed the fine, stressing the importance of adhering to legal requirements for operating in the country. Binance faces consequences if issues are not rectified. Stakeholders emphasize the need […]

Ola Electric gets Sebi approval for ₹5,500 crore IPO

Ola Electric, India’s top electric two-wheeler manufacturer, secured Sebi approval for a ₹5,500 crore IPO. The offering comprises a fresh equity share issue worth ₹5,500 crore and an offer for sale of 9.52 crore equity shares. The Bengaluru-based company filed IPO papers with Sebi in December 2023.

Rupee slips one paisa to settle at 83.44 against U.S. dollar

Rupee falls one paisa to close at 83.44 against the U.S. dollar on June 19. The domestic currency opened strong at 83.39, fluctuated between 83.34 and 83.48 during the session. Analysts predict Rupee to trade between 83.25-83.60 amid the firm dollar index at 104.88. Despite mixed signals in U.S. data, the Rupee settled slightly lower […]

Sensex, Nifty end flat after hitting record high levels

Sensex and Nifty remain flat after reaching record highs amidst profit-taking. Sensex closes at 77,337.59, Nifty at 23,516. Gainers included Axis Bank, HDFC Bank, ICICI Bank, among others. Market volatility led to gains in banking stocks but losses in consumer durables and energy shares. FIIs bought equities worth ₹2,569.40 crore. Oil benchmark Brent crude decreased […]

Chandrababu Naidu’s wife Nara Bhuvaneshwari earns ₹579 crore in 5 days

Nara Bhuvaneshwari, wife of TDP leader Chandrababu Naidu, makes a whopping ₹579 crore in five days from Heritage Foods stock as it rallied despite market crash. Holding 24.37% stakes with 2,26,11,525 shares, her strong influence on the company reflected in its share price surge to ₹659 per share. Benefitting from this, her net worth escalated […]

Sensex jumps 600 points as RBI raises FY25 GDP growth forecast

Sensex soars 600 points on RBI’s higher GDP forecast for FY25. Nifty 50 is up 0.67% at 22,968.9 points, and Sensex rises 0.64% to 75,624. RBI maintains interest rates and a tight monetary stance. The stock market is stable. RBI focuses on curbing inflation alongside robust economic growth. The market reacts positively.

Nvidia Tops $3 Trillion in Market Value, Leapfrogging Apple

Nvidia’s market value surpasses $3 trillion, surpassing Apple, becoming the first semiconductor company to achieve this milestone. Shares surged 147% in 2024, reaching $1.8 trillion amid high demand for AI chips. CEO Jensen Huang plans yearly AI accelerator upgrades. Nvidia aims to lead in generative AI, seizing on market momentum, and potentially overtaking Microsoft in […]

Rupee rebounds 14 paise to 83.37 against US dollar

Rupee gains 14 paise to 83.37 against US dollar on June 6. The rise attributed to strong domestic equities and lower oil prices. The currency hit a peak of 83.28 during the session. Analysts suggest a soft outlook for crude oil prices and RBI intervention may support the rupee. In global markets, the dollar index […]

Edelweiss CEO Radhika Gupta’s message for investors

Edelweiss Mutual Fund CEO Radhika Gupta provided insights for investors amidst market volatility, highlighting India’s stable governance and economic reforms prospects. She underscored the importance of market resilience and adherence to investment principles. Gupta emphasized India’s growth potential and urged continued focus on nation-building. BJP-led NDA’s election victory and subsequent market decline were noted. Investors […]