The initial public offering (IPO) of BMW Ventures closed with 1.5 times subscription following a muted response on the final day of bidding on Friday, September 26. Across all categories, the bulk of the bids came from qualified institutional buyers (QIBs) and non-institutional investors. The Rs 231.66-crore issue opened on September 24, offering shares in…
Hindustan Unilever Limited (HUL) said on Friday, September 26, that its sales in September were hit by temporary disruptions following recent changes in Goods and Services Tax (GST) rates. In a filing to the BSE, the company noted that while nearly 40 per cent of its portfolio now falls under a lower 5 per cent…
Domestic equity benchmarks fell about half a percentage point each amid selling pressure in financial, IT, and oil and gas shares though buying interest in metal scrips lent some support. The Sensex gave up 386.5 points to end at 81,715.6 while the Nifty50 lost 112.6 points to 25,056.9, continuing to fall for the fourth trading session in…
Swiggy Limited has approved the transfer of its quick commerce business Instamart to an indirect wholly owned subsidiary, Swiggy Instamart Private Limited, in a restructuring aimed at improving operational efficiency and long-term growth. The board cleared the transfer on Tuesday, subject to shareholder approval and customary conditions. The transaction will be executed via a slump…
The combined market value of eight of the country’s top-10 most valuable companies increased by Rs 1.69 lakh crore last week, in line with the positive trend on Dalal Street. During the week, the BSE benchmark rose by 1,193.94 points, or 1.47 per cent, boosting investor sentiment. Bajaj Finance turned out to be the biggest gainer among…
Hindustan Aeronautics Limited (HAL) has received the third GE-404 engine from the US for the Light Combat Aircraft (LCA) Mk1A programme. Another engine is expected before September ends, giving a fresh push to the production pipeline of India’s indigenous Tejas fighter jets. Boost for Tejas production The arrival of the latest engine strengthens HAL’s efforts…