NIFTY OUTLOOK: 25509.70 FII -3263.21 cr DII 5283.91 cr
As discussed yesterday, market behaviour remained on expected lines during the day as continued bearish sentiment dragged Nifty down to our level of 25495 (day low 25491.55) following a decisive breakdown below 25547.
The Enforcement Directorate (ED) has launched an extensive investigation into Varanium Cloud Ltd, following allegations of large-scale financial irregularities tied to its Rs. 40 crore IPO raised in September 2022. The IPO proceeds were reportedly meant to establish edge data centres and digital learning hubs in smaller towns, but the projects were never executed.
India’s primary markets are showing renewed momentum with a strong pipeline of initial public offerings (IPOs) attracting investor interest. According to the Economic Times IPO section, several deals have opened recently and still more are in the queue.
OpenAI’s chief financial officer Sarah Friar has clarified that the company is not currently working toward an initial public offering (IPO). Speaking at the WSJ Tech Live conference, Friar stated “IPO is not on the cards right now” and added that the firm is focused on scaling operations rather than getting distracted by listing plans.
Securities and Exchange Board of India (SEBI) chairman Tuhin Kanta Pandey clarified that SEBI will not intervene in determining the valuations of initial public offerings (IPOs), emphasising that pricing remains the prerogative of the market.
The nomination for the initial public offering (IPO) of Billionbrains Garage Ventures Ltd., the parent company of Groww, closes today. The total issue size stands at around Rs. 6,632 crore.
intech company Pine Labs has opened its initial public offering, seeking to raise approximately Rs. 3,899.91 crore through a combination of fresh issuance and an offer for sale. The issue comprises a fresh issue of Rs. 2,080 crore and an offer for sale of Rs. 1,819.91 crore by existing shareholders.
Emmvee Photovoltaic Power Ltd, an Indian solar panel manufacturer heading towards its initial public offering, plans to invest around Rs. 55 billion (US$625.75 million) to expand its manufacturing capacity, reflecting confidence in domestic renewables demand.
Donald Trump on Thursday expressed strong admiration for Narendra Modi, calling him a “great man” and a “friend,” while indicating that a visit to India next year remains on the agenda.
Indian equity markets drifted lower on Thursday as the NIFTY 50 breached its key short-term support level of the 20-day exponential moving average and edged toward the 25,400 zone. Several heavyweight stocks captured attention amidst the weak market tone.
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