Wed, May 1, 2024 12:03 PM
April Showers On Wall Street: Miners, Utilities Emerge As Bright Spots
A Flip by Shubhangi Gupta
Mumbai-based dental products company Laxmi Dental will open its Rs 698-crore initial share sale for public subscription on January 13, with a price band of Rs 407-428 per share. The issue will close on January 15. The anchor book of the public issue will be launched for a day on January 10, a day prior to the offer opening for public. The IPO share allotment will be finalised by 16.
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India’s new central bank head faces a tough decision on managing rupee’s exchange rate- focus on squeezing volatility like his predecessor did, or respond to calls for more flexibility as dollar continues to surge. A gauge of the rupee’s inflation-adjusted trade competitiveness, or real effective exchange rate, rose to a historic high of 108.14 in November, suggesting an overvaluation of about 8%.
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Kotak Institutional Equities has initiated coverage on Premier Energies and Waaree Energies with a "sell" call, citing high valuations, despite forecasting strong growth in India's solar sector. The brokerage set target prices of Rs 770 for Premier Energies and Rs 2,550 for Waaree Energies, indicating potential declines.
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