PremiumAn increase in US jobless claims signalled some cooling in the economy. With central banks hiking interest rates to fight inflation, worries about global recession keep investors on their toes. Spiking cases of COVID-19 in China amidst easing pandemic-curbing restrictions has not helped the sentiment.
Elin Electronics IPO listing date has been fixed on 30th December 2022. As per the information available on BSE website, “Effective from Friday, December 30, 2022, the equity shares of Elin Electronics Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' group of securities." Elin Electronics shares will become available for trade on BSE and NSE in a special pre-opening session on Friday morning deals.
According to stock market experts, Elin Electronics IPO was attractively priced compared to its peers but the company is operating in a highly competitive market. Majority of Elin Electronics' revenue is derived from a limited number of customers. But, due to shattered primary market sentiments, the public issue received lacklustre response from investors and hence, stock market experts believe that Elin Electronics share price may have a 'subdued ' or 'flat' debut today in secondary markets. (Read More)
Eicher Motors on Thursday announced a strategic investment in Spain’s Stark Future SL to develop electric motorcycles and for technology sharing, technical licensing, and manufacturing.
The company's Board of Directors has approved an investment of Euro 50 million for a close to 10.35 per cent equity stake in Stark Future. With this investment, Eicher Motors Ltd. will have a seat on Stark Future’s Board, and will explore further opportunities to collaborate in the space of electric mobility, said the company. (Read More)
Reliance Retail Ventures Ltd's subsidiary on Thursday said that it has acquired a 51% controlling stake in Lotus Chocolate Company. The FMCG arm, Reliance Consumer Products Limited, is the wholly owned subsidiary of Reliance Retail Ventures Limited has acquired Lotus Chocolate company from Prakash P Pai, Ananth P Pai and other members of the current promoter and promoter group of the company for ₹74 crore.
It has also announced an open offer to the public shareholders of Lotus for 26 per cent. (Read More)
While the world is still recovering from the losses of livelihoods, damages to businesses and national economies, and healthcare disruptions, the new, deadly variant of coronavirus from China can create havoc across the globe if its spread is not checked in time, reported The HK Post. What is going on in China at present has stoked fears about the repetition of the horrific Covid-19 outbreak that killed millions of people across the globe.
And like what Beijing did in 2019, this time too Chinese authorities are hiding information about the coronavirus infections from their own people and the world outside. (Read More)
The announcement of share allocation for the initial public offering (IPO) of Radiant Cash Management Services Ltd can be finalised any time today. As per the tentative schedule of the public issue worth ₹387.94 crore, the Radiant Cash Management IPO allotment date is most likely on 30th December 2022. Those, who have applied for the public issue can check Radiant Cash Management IPO allotment status online by logging in at the BSE website — bseindia.com or at the website of the official registrar of the IPO. Link Intime Private Limited has been appointed as the official registrar of this public issue and its official website is linkintime.co.in. (Read More)
Wall Street and European stocks rose Thursday as an increase in US jobless claims signalled some cooling in the economy, bringing optimism about the direction of interest rate hikes.
The US Federal Reserve and other central banks have hiked rates in efforts to rein in runaway inflation, but investors fear the aggressive stance could spark a recession as higher borrowing costs slow economic activity.
Data on Thursday showed initial US jobless claims for the week ending December 24 rose more than expected to 225,000, indicating that the labour market could be cooling.
Central bank policymakers have been particularly concerned about the jobs market, where demand for workers has exceeded supply, with wages picking up quickly.
The Paris CAC 40 index and the Frankfurt DAX closed around one per cent higher while London's FTSE 100 gained 0.2%.
Wall Street closed higher as well after two gloomy days, with the tech-heavy Nasdaq bouncing by 2.6%.
But traders said volumes remained thin in the final trading week of the year. (AFP)
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