Saturday, September 26
The initial public offering (IPO) of Travel Food Services was subscribed 5% by 12:03 pm on the first day of bidding, Monday, July 7.The issue received bids for 6.25 lakh shares against 1.34 crore shares on offer. The retail investor portion was subscribed 8%, followed by 3% subscription in the non-institutional investor (NII) category. Qualified Institutional Buyers (QIBs) were yet to participate at the time of reporting. The employee reserved quota saw a 25% subscription.Also Read: Street favourite! 10 BSE large-cap stocks analysts expect to rally up to 70%Ahead of the public issue, the company raised Rs 599 crore from anchor investors by allocating 54,43,635 equity shares at Rs 1,100 apiece on Friday, July 4.Notable anchor investors include ICICI Prudential Mutual Fund, Abu Dhabi Investm
India’s defence stocks declined on Monday amid profit booking and subdued broader market sentiment, following a sustained rally that had positioned the sector among the market’s top performers in recent months. The Nifty India Defence index dropped 1.5%, signalling a potential pause in momentum.Paras Defence and Space Technologies led the slide, tumbling 8%. Garden Reach Shipbuilders & Engineers fell 2.7%, Bharat Electronics and Bharat Dynamics each declined 2.5%, while Zen Technologies and Astra Microwave Products lost 2.2% and 2.3%, respectively.Meanwhile, a handful of stocks managed to stay in the green. DCX Systems, Unimech Aerospace and Manufacturing, BEML, Cyient DLM, and Hindustan Aeronautics (HAL) were the only gainers in the Nifty India Defence index.The sell-off comes on
India and the US are nearing a mini trade deal with politically and economically sensitive sectors of dairy and agriculture likely to be excluded from the pact, officials said.“The deal is in its conclusion phase,” said an official. “Most issues related to agri may be discussed later. As of now, they seem to be out of the ambit of this phase of the deal,” the official said, adding that the agreement could be announced in the next two days. The interim deal would only cover trade in goods, a second official said. The official noted that the two sides could also look to finalise multiple agreements as and when the issues get resolved. 122284238Both sides have been in intense negotiations to reach a deal before the US government’s 90-day pause on reciprocal tariffs ends on July 9.
