Supermarket chain Vishal Mega Mart is set to finalise the allotment of its initial public offering (IPO) on Monday, December 16. The company’s shares are scheduled to debut on the BSE and NSE on December 18.
The IPO, which was open for subscription from December 11 to 13, received a strong response, with a total subscription of 27.28 times. The price band for the issue was set at ₹74-78 per share.
Shares of Wockhardt Ltd. are trading with gains of 10% on Monday, December 16, after the company announced the successful use of its drug Zaynich (WCK 5222) in a patient suffering from Cancer in the US.
GST Council may consider hiking GST on Old & Used EVs and Smaller Petrol & Diesel cars from 12% to 18%
Shares of HBL Engineering Ltd., earlier known as HBL Power Systems Ltd. gained as much as 6% on Monday, December 16 after it bagged an order from the Chittaranjan Locomotive Works.
In an exchange filing, HBL Engineering said it won an order for the supply, installation and commissioning of on-board Train Collision Avoidance System (TCAS) also known as KAVACH.
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Afcons Infra rises nearly 6% after it gets LoA from MP Metro Rail Company for a project worth Rs 1,007 crore
HBL Power gains nearly 4% on order worth Rs 1,522 crore
#CNBCTV18Market | Market opens largely lower with all benchmark indices in the red except #NiftyMidcap pic.twitter.com/suPjlf0eWg
— CNBC-TV18 (@CNBCTV18Live) December 16, 2024
#StocksToWatch | Here’s a list of stocks that will be in focus & going into trade today ???????? pic.twitter.com/YcxDjwnhs4
— CNBC-TV18 (@CNBCTV18Live) December 16, 2024
All eyes this week will be on the US Federal Reserve’s policy decision. This morning, GIFT Nifty was trading with a discount of nearly 80 points, indicating a gap-down start for the Indian market.
#MarketCues | Here’s how global market cues are placed this morning pic.twitter.com/n1W3FTkOpA
— CNBC-TV18 (@CNBCTV18Live) December 16, 2024
Shares of Anil Agarwal-owned mining conglomerate Vedanta Ltd. will be in focus ahead of its board meet on Monday, December 16, to consider its fourth interim dividend for financial year 2025.
China’s November IIP production is in line with estimates
Brokerage firm JPMorgan believes that Godrej Consumer Products can outperform its peers going forward and has hence retained its “outperform” rating on the stock with a price target of ₹1,365.
#CNBCTV18Market | #GIFTNifty trading with a discount of nearly 80 points, indicates gap-down start for Indian market pic.twitter.com/zpkHNX3MhB
— CNBC-TV18 (@CNBCTV18Live) December 16, 2024
Oil steadied after a weekly advance as the US signaled tighter sanctions on Russian crude and Chinese authorities vowed to shore up the nation’s economy.
Brent crude traded above $74 a barrel after rising almost 5% last week, while West Texas intermediate was near $71. The US and its allies could consider lowering the price cap on Russian crude to further limit Moscow’s ability to fund the war in Ukraine, Treasury Secretary Janet Yellen said in an interview with Reuters.
Most Asian stocks traded in narrow ranges early Monday ahead of a swath of Chinese data and following a vow from the nation’s regulators to stabilize markets.
South Korea’s shares and the won rose after President Yoon Suk Yeol was impeached on the weekend. Japanese equities edged higher while Australian stocks dropped and equity futures in China pointed to losses. US futures were little changed after the S&P 500 swung between gains and losses on Friday ahead of a possible hawkish rate cut by the Federal Reserve this week.
Last Friday’s trading session is not something you would even wish upon your worst enemy. Of course, there was money made on both sides perhaps, but someone who carried longs into Friday’s session would have been caught on the wrong side in the first half of the session, while someone who may have shorted the Nifty on the way down would’ve also been caught on the wrong side post the second-half bounce.
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