Ola Electric plans to deploy Rs 1,226.43 crore of IPO proceeds on cell production capacity expansion
IPO-bound Ola Electric Mobility Ltd plans to utilise Rs 1,226.43 crore out of the proceeds of its Rs 5,500-crore public issue on capacity expansion of its cell manufacturing plant to 6.4 GWh from 5 GWh, according to preliminary papers filed by the company with capital markets regulator Sebi.
The company, which had filed the draft red herring prospectus (DRHP) last week is also looking to use Rs 1,600 crore from the public fund raising on research and product development, while another Rs 800 crore will be deployed to repay debt.
Ola Electric Mobility (OEM) which had on August 15, 2023 announced a line-up of electric motorcycles — Cruiser, Adventure, Roadster and Diamondhead — expects to begin delivery of the motorcycles in the first half of fiscal 202…
Stocks to watch- Adani Green, Manthan Alloys, Vishnu Prakash, SJVN, Happy Forgings, LIC, Credo Brands
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Tuesday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded up by just 31.50 points or 0.15% at 21,533, indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 gained 91.95 points or 0.43% to settle at 21,441.35, while the BSE Sensex ended higher by 229.84 points or 0.32% to 71,336.80.
“Nifty mostly traded sideways after an initially positive start. The sentiment remains optimistic as the index stays above critical moving averages. At 21,500, there could be significant immediate resistance. A decisive breakout beyond this level could potent…
Eco Mobility IPO opens today- Check issue size, price band, and other key details
ECO Mobility IPO opens to investors for bidding on August 28. The company will stop taking bids on August 30.
Issue Size
The company wants to raise Rs 601.20 crore from investors through an offer for sale of 18 million shares. As the issue is purely an offer for sale, the funds will not go to the company but to the promoters and other selling shareholders of the company.
ECOS Mobility IPO details
ECO Mobility kept the IPO price band in a range of Rs 318 to Rs 334 per equity share. The allotment of the shares is expected to be finalised by September 02. The listing is likely to be on September 04 on NSE and BSE, as per the tentative schedule.
Stocks To Watch: HUL, NBCC, ICICI Pru…
Updater Services opens, price band at Rs 280-300; should you subscribe to the issue-
Updater Services IPO: Updater Services opens for public subscription today and will close on Wednesday, September 27, 2023. The bidding for anchor investors concluded on Friday, wherein the company collected Rs 288 crore. The price band for its public issue at Rs 280-300 per equity share of face value Rs 10 each. At the upper end of the price band, the company’s promoters and shareholders seek to raise Rs 640 crore from the IPO.
The IPO comprises a fresh issue of 13,333,333 shares aggregating up to Rs 400 crore and an offer-for-sale (OFS), with promoters offloading 8,000,000 shares of Rs 10 aggregating up to Rs 240 crore. The lot size of the Updater Services IPO is 50 shares.
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Will Nifty hit a new high above 22,800 or consolidate ahead- See GIFT Nifty, FII data, F&O ban, crude, more before market opens
GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a positive opening on Wednesday. Here is all you need to know before the market opens.
GIFT Nifty traded up by 75 points or 0.33% at 22,834 indicating a positive opening for domestic indices NSE Nifty 50 and BSE Sensex on Wednesday. Previously, on Tuesday, the NSE Nifty 50 ended down by 23.55 points or 0.10% to settle at 22,642.75, while the BSE dropped 58.80 points or 0.0.08% to 74,683.70.
“Markets traded volatile and ended almost unchanged, taking a breather after the recent surge. The beginning was upbeat however profit taking in select heavyweights pulled the index lower as the day progressed. Meanwhile, a mixed trend on the sectoral front kept the traders occupied where…
Rupee to trade between 83.60 – 84.10 in the near-term says CareEdge Ratings
By Mihika Sharma
The Indian rupee has slightly strengthened over the past trading sessions closing at 83.91 on August 26 compared to 83.95 about a week ago.
A weaker dollar is offering some support to the rupee, however, dollar demand from importers and foreign portfolio outflows from Indian stocks (USD 1.5 billion so far in August, as on August 26) have limited rupee’s gains.
As a result, the rupee has only strengthened by 0.1% over the past week. In comparison, other Asian currencies have seen more significant gains over the same period – the Chinese yuan has appreciated by 0.6%, the South Korean won by 1.6%, the Indonesian rupiah by 1.7%, and both the Philippine peso and the Thai baht by 1.9%.
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Tradebull Securities expect gold to trade sideways amidst tension in West Asia
By Bhavik Patel
Gold prices have declined for last three consecutive days with 22th April (Monday) decline being the biggest in last two years. That being said, gold is still showing a respectable 17.06% gain from one year ago.
The main factor that caused gold prices to drop significantly in a single day (-$60) was the reduction of the risk premium associated with Middle East tensions. The Fed and economic reports are once again in the spotlight. It will be more difficult for the Fed to lower rates if we see strong inflation numbers, and gold may fall below $2,250.
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The Q1 GDP figure on Thursday and the core PCE inflation statist…