Fri, Sep 20, 2024 11:02 AM
Ashneer Grover's family member arrested by EoW in BharatPe case
A Flip by Shubhangi Gupta
IPO of Phoenix Overseas Limited has hit the Indian primary market today. The public issue will remain open for bidding till 24th September 2024, i.e. until Tuesday next week. The company has fixed the Phoenix Overseas IPO price band at ₹61 to ₹64 per equity share, and the book build issue is proposed for listing on the NSE SME Emerge platform.
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Rate sensitive stocks tend to rejoice on easing of monetary policy, and with the US Fed announcing a jumbo rate cut of 50 basis points, it is a no brainer that banking stocks may also attract huge investor interest. However, this time, it is different. While hopes for RBI to follow steps of the Fed have increased, market experts expect the underperformance of banking stocks to continue.
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India’s palm oil production is likely to triple in six years as the area under oil palm plantations increases and as plantations become mature for harvesting, a senior industry official said on Friday. The world’s biggest edible oil importer relies on Indonesia, Malaysia and Thailand for palm oil supplies. An increase in production will help India slash edible oil imports.
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