All four SME IPOs—Three M Paper Boards, Prizor Viztech, Sati Poly Plast, and Aelea Commodities—close on July 16. Sati Poly Plast's Rs 17.36 crore IPO saw over 10x subscription at Rs 123-130 apiece, with a 39% listing gain. Prizor Viztech's Rs 25 crore IPO had 6.3x subscription. Three M Paper Boards hit 3.93x; Aelea Commodities, 2.49x.
The Federation of Automobile Dealers Associations (FADA) urged the government to introduce vehicle depreciation benefits for individual taxpayers to boost automobile demand and expand the taxpayer base. FADA also requested reducing corporate tax for LLPs, proprietary, and partnership firms. These measures aim to stimulate the automotive industry and the broader economy.
OPJS University in Churu is being investigated by the SOG for issuing 43,409 fake degrees. Following the arrest of Joginder Singh Dalal, unauthorized degrees were discovered. Sarita Karwasra and Jitendra Yadav were also arrested. Operational issues, fire claims, and PTI exam compromise noted. Higher education authorities halted admissions, with ADGP VK Singh and DIG Paris Deshmukh leading.
Supreme Court while granting interim bail to Kejriwal in the ED case observed that the Delhi Chief Minister has suffered incarceration of 90 days and it's conscious that he is an elected leader. The top court had reserved the verdict on Kejriwal's plea on May 17.
Rajasthan Agriculture Minister Kirodi Lal Meena, who resigned from the Rajasthan cabinet, was granted permission by the Assembly to abstain from participating in the current session's proceedings. This came after voice vote by Speaker Vasudev Devnani due to his absence during the ongoing budget session and a recent cabinet meeting. Meena's resignation, linked to the BJP's poor Lok Sabha election performance in the state, has yet to be officially accepted.
Magicpin, an offline fashion discovery platform, has seen a 100% year-on-year increase in brand on-boarding, adding 1000 brands across fashion, QSR, and fine dine categories. Over 75,000 local merchants have been added in the last 12 months, with 80% becoming transactional within the first month.
A Delhi Court extended Chief Minister Arvind Kejriwal's judicial custody in a CBI case linked to the Delhi Excise policy until July 25th. This decision followed the Supreme Court granting interim bail to Kejriwal earlier in the day in a money laundering case filed by the ED related to the same excise policy scam.
Andhra Pradesh police have registered an "attempt to murder" case against former chief minister YS Jagan Mohan Reddy, two senior IPS officers, and two retired officials following a complaint lodged by a TDP MLA. The complaint was lodged by Undi MLA K Raghurama Krishna Raju. The five accused persons were booked under IPC Sections 120 B, 166, 167, 197, 307, 326, 465, and 506 read with 34.
A total of 161,193 shares changed hands on the counter till 02:10PM (IST)
This move is expected to help importers bring in more Kabuli chana into India ahead of the festival season. Pulses, including kabuli chana, are widely used in snack making and consumed as a source of proteins.
Adani Group and India make history with the arrival of the San Fernando cargo ship at Kerala's Vizhinjam International Sea Port. The port, a key player in global trade routes, marks India's entry into global transshipment. Adani Ports plans to invest $1.2 billion to boost the port's capacity, positioning it as a world-class transshipment hub.
The stock quoted a 52-week high price of Rs 666.85 and low of Rs 486.75.
Directionally, I think that the flows will be very healthy for the rest of the year, says Rakesh Rawal of Anand Rathi Wealth. The proportion of debt is coming down for us and the proportion of equity is going up. So, from 48% of our total mix of equity funds one year ago, we are closer to I think 52-54% now.
In June 2024, mutual funds retained a positive outlook on Indian equities, making net investments totaling around Rs 28,226 crore.
Congress leader Vikramaditya Singh stated that people who wish to meet him do not require an Aadhaar card. Ranaut explained that due to a high influx of tourists and outsiders at her office, this measure was necessary to ensure that only constituents with genuine issues are attended to promptly.
On the technical charts, the 200-day moving average of the stock stood at Rs 26468.6.
Tata Power has invested Rs 4,245 crore in infrastructure expansion and network upgrades in Odisha over the past 3-4 years. The company operates four joint ventures with the government, serving over 9 million customers. The investment includes Rs 1,232 crore through government-backed schemes, including laying 33 KV lines and adding 30,230 distribution transformers.
However, earlier in the day, Bitcoin had reached $59,300 level after US inflation rates dropped to 3%, the lowest in four decades, signaling a possible end to the price spike.
On the technical charts, the RSI of the stock stood at 59.32.
A long buildup happens when more people start buying a stock in the Futures and Options market. This indicates they expect the stock price to go up. On Friday, five stocks saw new long positions being taken by investors.
The Bombay High Court quashed a magistrate's order allowing an RSS worker to submit additional documents in a criminal defamation complaint against Rahul Gandhi. The court ruled in the Congress leader's favor and directed the trial to proceed without the contested documents. It emphasised the need for an expeditious trial and cooperation from both parties.
Most companies think of growth in a very finite way. But in new-age business models, maybe networks and platforms, the marginal costs are constantly dropping or are very-very low and therefore the returns to scale are phenomenal. The marginal value creation of adding one customer is so massive in the context of the cost of acquiring that customer. So, we know that a lot of venture capital funds use LTV to CAC as a framework of looking at companies.
Mid-career professionals utilize e-learning tools like MOOCs, microlearning, gamification, and cloud computing. Personalized learning, mobile optimization, microcredentials, collaborative projects, and peer feedback are key. Generative AI, highlighted by D2L and UNIVO Education, is redefining careers.