Marinetrans India stock made a decent debut, listing at a 15.38 percent premium over the IPO price on December 8. The stock opened at Rs 30 against the issue price of Rs 26 on the NSE SME platform. However, within minutes, the stock slipped to Rs 28.5. Ahead of the listing, Marinetrans shares were trading at an 11 percent premium in the grey market, which is an unofficial ecosystem.
Open FlipShares of IRB Infrastructure Developers soared 6.5 percent in early trade to hit a 52-week high of Rs 40.95 on December 8 after the company reported a 20 percent on year rise in gross toll collections in November. The company clocked in toll collections worth Rs 437.05 crore in November as against Rs 366 crore in the year-ago period. The rise in toll collections came despite the softened.
Open FlipShares of GMR Airports Infrastructure Ltd recovered its early losses and gained 1.5 percent on December 8 after a huge block deal. Around 758.1 million shares changed hands in 13 bunch trades, according to Bloomberg. Details of the buyers and sellers were not known yet. At 9.40am, the stock was trading at Rs 62.77 a share, up 1.8 percent from its previous close.
Open FlipThe Reserve Bank of India on December 8 left its key interest rate unchanged for the fifth consecutive meeting, citing a potential resurgence in inflation and signalling that price stability remained its primary objective. The Reserve Bank of India's monetary policy committee (MPC), as expected, kept the repo rate, at which banks borrow short-term funds from the central bank, at 6.5 percent.
Open FlipMUMBAI - The Reserve Bank of India (RBI) on Friday left the repo rate unchanged at 6.50% following the conclusion of its three-day monetary policy meeting. This is the fifth consecutive time the RBI has left policy rates untouched. The Monetary Policy Committee (MPC) of the central bank also retained its stance of remaining focussed on “withdrawal of accommodation.
Open FlipTaking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,512 at the opening time, up Rs 46 or 0.07% from Thursday's closing price. Meanwhile, the March Silver futures were trading at Rs 74,649 per kg, higher by Rs 336 or 0.45%. Read MoreIn the international market, gold prices rose amid a slip in the dollar index below the 104 mark.
Open FlipMidcap IT and software services provider Persistent Systems is in discussions to acquire a controlling stake in NSEIT, the wholly owned IT services arm of the National Stock Exchange (NSE), sources aware of the talks have told Moneycontrol. Established in 1999, NSEIT provides digital examination and edtech solutions, cybersecurity, RPA, testing, cloud services .
Open FlipThe Indian rupee has opened today with no significant changes against the US dollar, ahead of the Reserve Bank of India's bi-monthly policy meeting scheduled later today December 8. As of 9:15 am, the home currency was trading at 83.36 per dollar, a minimal decrease of 0.01 percent from its last closing price of 83.36 per dollar. Market experts predict that the RBI will maintain its status.
Open FlipET Intelligence Group: Analysts have reduced the revenue and operating profit growth estimates of One97 Communications by 10-15% for the current and the next fiscal years after the owner of financial services platform Paytm said it would cut exposure to the postpaid loan segment. The decision is likely to slow down the growth rate of its personal loan segment in the short term.
Open FlipShares of Container Corporation of India gained 1 percent to hit a 52-week high of Rs 859.75 in early trade on December 8 after the company signed a contract to set up power projects for NTPC Vidyut Vyapar Nigam. "Container Corporation of India and NTPC Vidyut Vyapar Nigam Limited (NVVN) have signed a Memorandum of Understanding (MoU) to explore the possibility of setting up PV Solar renewables.
Open FlipJindal Saw shares traded flat on December 8 morning ahead of the company's management meeting scheduled later next week to consider raising funds. The iron and steel pipes and pellets manufacturer said the board of directors will meet on December 14 to consider the proposal of raising funds through one or more qualified institutional placement (QIP) of equity shares.
Open FlipTVS Electronics shares gained a percent in the early trade on December 8 despite the company receiving a notice of Rs 35.58 crore from the Chennai customs department over the import of thermal line printers. TVS Electronics will file an appeal to the notice and has appointed an attorney to attend the proceedings before the Customs, Excise, and Service Tax Appellate Tribunal, Chennai.
Open FlipIn the year 2020, India took a bold step in simplifying its complex labour laws by consolidating 44 statutes into four comprehensive labour codes. The move was hailed as a game-changer, promising to streamline regulations, foster ease of doing business, and pave the way for formal job creation. However, despite this monumental reform, the anticipated benefits are yet to materialise.
Open FlipShares of top banking names including State Bank of India (SBI), ICICI Bank, Axis Bank, HDFC Bank, and Kotak Mahindra Bank have surged up to 8 percent in the past one week, as against 4 percent rise in the Bank Nifty index as market participants hopes increased for a stable government in the run-up to 2024 elections. However, analysts at Macquarie in its recent note cautioned that the banking.
Open FlipGold prices were set to mark their first weekly fall in four after the dollar firmed, but traded steadily on Friday as investors stayed cautious ahead of key jobs print due later in the day to gauge the potential for U.S. rate cuts by March. FUNDAMENTALS * Spot gold edged up 0.2% to $2,032.36 per ounce by 0215 GMT. Bullion, however, fell 1.8% for the week so far.
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