The listing fell slightly short of expectations, despite Ecos Mobility's shares trading at a grey market premium (GMP) of 48% above the issue price before the debut. The IPO garnered significant attention, with a subscription rate of 64 times, primarily driven by non-institutional investors.
Vishal Dhupar, managing director of Nvidia South Asia, attributed this advancement to three factors: volume, diversity of languages, and the ability to collaborate. The size and breadth of India's culture, which spans 5,000 years, play a crucial role, he said.
Cathay Pacific has identified that 15 of its Airbus A350 planes need repairs after an engine component failure on a flight to Zurich. The airline has inspected all 48 planes in its fleet and fixed three by Tuesday afternoon. Rolls-Royce, the engine maker, is assisting with the issue.
A total of 12,822 shares changed hands on the counter till 01:03PM (IST).
Brazilian bodybuilder Matheus Pavlak, 19, who gained fame for his transformation from obesity, was found dead at home, reportedly due to a heart attack. His death has led to speculation about the role of anabolic steroids. Pavlak had recently won the U23 contest and was a rising star in bodybuilding.
GTPL Hathway has launched the GTPL Buzz app, offering cloud gaming, live TV streaming, and international content channels. The app includes Blacknut Cloud Gaming's first commercial launch in India, with over 500 premium games. It also integrates Distro TV for a variety of global content and features an upgraded GIVA chatbot for customer support.
The Indian government will maintain a significant tax difference between electric vehicles and hybrids to promote zero-emission technologies. G20 Sherpa Amitabh Kant confirmed the policy at a Mercedes-Benz event, emphasizing the push for electrification. This decision impacts auto companies like Maruti Suzuki, Toyota, and Honda, who have been lobbying for lower GST rates on hybrids.
Minda Corporation Ltd has signed a technology licensing agreement with China's Sanco Connecting Technology to develop electrical distribution systems for electric vehicles. This partnership aims to enhance Minda's product portfolio in the EV industry and boost Sanco's presence in India's growing market by leveraging Minda's local production and engineering capabilities.
India and Brunei have agreed to enhance cooperation in defence, space, and people-to-people ties during Prime Minister Narendra Modi's visit. The two nations signed an MoU on satellite and launch vehicle operations. They also discussed climate change, terrorism, and regional issues, aiming to strengthen bilateral relations and the ASEAN-India Comprehensive Strategic Partnership.
The government plans to establish a special purpose vehicle to advance aircraft manufacturing in India, according to Union Civil Aviation Minister K Rammohan Naidu. Speaking at a conference, Naidu highlighted efforts to initiate aircraft manufacturing within the next five years. India is among the fastest growing civil aviation markets globally.
Japan's Nikkei share average dropped over 4% on Wednesday, influenced by declines in chip-related stocks and renewed concerns about the U.S. economy following weak manufacturing data. The broader Topix index also fell, with most industry sub-indexes declining. Investors remain cautious ahead of the upcoming U.S. non-farm payrolls data release.
Rajya Sabha MP Swati Maliwal criticised Sunita Kejriwal, wife of Chief Minister Arvind Kejriwal, for celebrating the bail of Bibhav Kumar, who Maliwal accused of assaulting her. Maliwal condemned the Kejriwal family for supporting Kumar and shared a symbolic image from Mahabharata to highlight her struggle for justice.
The stock quoted a 52-week high of Rs 896.75 and a 52-week low of Rs 289.3.
Gala Precision Engineering's IPO has been subscribed 82 times on its final day, driven by non-institutional investors and retail categories. The issue, priced between Rs 503-529 per share, aims to fund new facilities and repay debt. Analysts are optimistic about the company's market position and valuation.
Jakson Engineers plans to invest Rs 2,000 crore to expand its solar manufacturing business. The investment will establish a 2,500 MW solar cell facility and expand the existing module plant to 2,000 MW. This move aims to meet growing solar energy demand and create 1,200 new jobs.
The Delhi High Court has asked Tihar Jail authorities to respond to AAP MP Sanjay Singh's plea, claiming he was denied a meeting with Chief Minister Arvind Kejriwal in prison. Singh, a Rajya Sabha MP, argued that the denial was based on his status as an ex-prisoner. The matter is set for hearing on September 9.
Tamil Nadu Public Service Commission has issued the TNPSC Group 2 Hall Ticket 2024 for the prelims exam. Candidates can download it from the official TNPSC website. The exam is scheduled for September 14, 2024, and will include questions on General Studies, Aptitude, Mental Ability, and Language. The admit card is accessible via the One Time Registration dashboard.
Former President Donald Trump has indicated he might release more official files related to Jeffrey Epstein, including the alleged client list, if re-elected. Trump emphasized that he never visited Epstein’s private island and expressed interest in revealing more information about Epstein's clients. He also showed interest in releasing documents related to the assassination of former President John F. Kennedy.
A total of 358,411 shares changed hands on the counter till time (IST).
The Congress party has disclosed significant expenditures for the 2024 Lok Sabha elections, including Rs 70 lakh each for Rahul Gandhi’s campaigns in Wayanad and Rae Bareli. Other notable expenses include Rs 87 lakh for Vikramaditya Singh’s campaign in Mandi and Rs 107 crore allocated to 24 Lok Sabha candidates. BJP's expenditure details are still pending.
The government is set to sell a 6.8% stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale, priced at Rs 395 per share. This move aims to raise around Rs 4,700 crore and contribute to the disinvestment fund. The sale will be conducted over two days for different investor categories.
A total of 31,967 shares changed hands on the counter till 12:38PM (IST).
Think tank GTRI has criticized the World Bank's suggestion for India to reconsider joining the RCEP, calling it based on flawed assumptions and outdated projections. GTRI argues that India's decision to stay out of RCEP was strategically sound, emphasizing the need for data-based analysis tailored to developing countries' specific challenges.