Wednesday, November 27

Market

Economic news- Know the latest news about the commodity market price up and down, share market up and down, latest highest price rise and lowest down for shares and commodities all over the world.

WeWork Files For an IPO, Trade Under “WE” ticker
15Aug By PriyankaNo Comments
Market

WeWork Files For an IPO, Trade Under “WE” ticker

Co-working startup WeWork filed for an IPO after its parent company "We company" proposes it's stock sale, despite losing money amid rapid expansion. The We Company will trade under the "WE" ticker, as per the reports estimated the IPO valuation will be between $3 and $4 billion. The company also reached an agreement with a consortium of large banks including JPMorgan Chase and Goldman Sachs for a $6 billion credit facility that will close with the stock offering. "Not only do we believe our business model mitigates the pressures of an economic recession but we also believe that our model could position us well in a downturn," it said in the filing. "An economic downturn may provide us an opportunity to further scale our platform at more attractive unit economics. The New Yor...
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Indiamart posts profit of $4.5 million in Q1, FY’20
1Aug By AdityaNo Comments
Market

Indiamart posts profit of $4.5 million in Q1, FY’20

India based B2B eCommerce platform Indiamart Intermesh posted a consolidated profit of $4.5 million for the quarter ended on June 30, 2019. The company had recorded a loss of $8 million in the same period a year ago. "Our growth is a result of the focus on execution and measures undertaken towards enhancing buyer and supplier experience. We are continuously investing in expanding our network, enhancing our technological capabilities and acquiring the best minds from the industry," Indiamart Intermesh, Managing Director, Dinesh Agarwal said. The total consolidated income of Indiamart increased by 37.5 percent to $23 million during the reported quarter from $16.7 million in the corresponding period of 2018-19. "Consolidated revenue from operations grew by 30 percent on YoY basis ...
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Tesla reports huge Q2 Loss, Shares plunge 10 percent
25Jul By PriyankaNo Comments
Market

Tesla reports huge Q2 Loss, Shares plunge 10 percent

Tesla shares have plunged as the electric carmaker reported a bigger loss in Q2. Tesla reported a second-quarter loss of $408 million or $1.12 per share compared to the loss of 40 cents forecast by analysts. Shares tumbled 10 percent to USD 238.39 in after-hours trading. Overall revenues jumped 66 percent from a year earlier to $5.2 billion as Tesla reported sharply higher deliveries of its Model 3, the most affordable vehicle in its lineup and the hope for giving the company a wider customer base."We achieved record deliveries of 95,356 vehicles and record production of 87,048 vehicles, surpassing our previous quarterly records," Tesla said in a letter to investors. "This is an important milestone as it represents rapid progress in managing global logistics and delivery operation...
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Angel Broking paid $450,000 to settle case with Sebi
22Jul By NitishNo Comments
Market

Angel Broking paid $450,000 to settle case with Sebi

Stock broker Angel Broking has settled a case of alleged misutilisation and non-settlement of clients' fund with regulator Sebi by paying nearly $450k towards settlement charges. Sebi conducted an inspection of the books of accounts of Angel Broking during September 19-23 and October 19-21 in the year 2016. During the inspection, Sebi observed that the stock broker "met the pay-in obligation of clients having debit balance from the funds of clients having credit balance", Sebi said. Moreover, it was not settling running accounts of the inactive clients periodically, the regulator added. By doing so, Angel Broking allegedly violated code of conduct for stock brokers. Accordingly, adjudicating proceedings were initiated against Angel Broking and a show cause notice was sent on Ma...
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Indian Airline Indigo shares fall over 3% on Founders dispute
11Jul By NitishNo Comments
Market

Indian Airline Indigo shares fall over 3% on Founders dispute

NEW DELHI: Shares of InterGlobe Aviation extend losing streak for the second consecutive session and fell over 3 per cent amid a tussle between the co-promoters Rakesh Gangwal and Rahul Bhatia. InterGlobe Aviation is the parent of India's leading airline service IndiGo. On the BSE, the scrip declined 3.07 per cent to close the counter at ₹1,354.85. During the day, the shares slumped 8.93 per cent to touch the low of ₹1,272.90. On the NSE, the shares opened lower and tumbled 8.93 per cent to a low of ₹1,273.20. The shares finally settled at ₹1,352 falling 3.29 per cent. In terms of equity volume, 7.12 lakh shares were traded on the BSE, while over 1.21 crore units exchanged hands on the NSE during the day. Shares of the company on the ...
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Online Platform Indiamart IPO subscribed 36 times
27Jun By AnkitaNo Comments
Market

Online Platform Indiamart IPO subscribed 36 times

27th June, 2019- The initial public offer of IndiaMART InterMESH, an online marketplace for business products and services, was subscribed 35.87 times so far on the final day of bidding on 26th June 2019. The Rs 475 crore IPO received bids for 9,65,97,705 shares against the total issue size of 26,92,824 shares, as per data available with the NSE till 16:45 hrs. The initial public offer (IPO) is of 48,87,862 equity shares including anchor portion of 21,95,038 equity shares. The price range for the offer, which opened for bidding on Monday, has been fixed at Rs 970-973 per share. IndiaMart InterMesh had raised more than Rs 213 crore from anchor investors last week. ICICI Securities Ltd, Edelweiss Financial Services Ltd, an...
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True North sells 7.39% stake in Aster DM Healthcare for $64.7million
27Jun By PriyankaNo Comments
Market

True North sells 7.39% stake in Aster DM Healthcare for $64.7million

Private equity firm True North has sold 7.39 percent stake in Aster DM Healthcare worth over $64.7 million (Rs 448 crore) through open market transactions. A total of 3.73 crore shares, amounting to 7.39 percent stake, were offloaded by True North Fund III-A translating into a $64.7 million transaction, according to bulk deal data available on NSE. According to the shareholding pattern available on India's Bombay stock exchange (BSE), at the end of March quarter, True North III A, held 8.23 percent stake in Aster DM Healthcare, which runs hospitals in India and the Middle East. In separate transactions, HDFC Mutual Fund bought 83 lakh shares of Aster DM for Rs 99.6 crore, Tata AIA Insurance purchased 50 lakh shares worth Rs 60 crore, while Fidelity Management and Ontario Pension B...
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IndiaMart IPO Opens Today
24Jun By AdityaNo Comments
Market

IndiaMart IPO Opens Today

India based B2B e-commerce platform IndiaMart initial public offer (IPO) launched today with a price band of Rs 970-973 to raise over Rs 474 crore. The company has offered 48,87,862 equity shares in the issue, which will close on June 26. The price band is set at Rs 970-973 per equity share of face value of Rs 10 each. "The floor price is 97 times the face value of equity shares and the cap price is 97.3 times the face of the equity shares," according to the announcement made by IndiaMart. The existing investors Intel Capital, Amadeus, DPF Limited along with promoter Dinesh Chandra Agarwal, are diluting some of their stake for the IPO. Intel Capital (Mauritius) has put up to 20,76,190 equity shares for sale in the offer, Amadeus 1,70,502 equity shares, Amadeus IV DPF limited 2,...
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Alibaba Planning a Second Listing in Hong Kong to Raise $20 Billion
28May By reutersNo Comments
CHINA, Market

Alibaba Planning a Second Listing in Hong Kong to Raise $20 Billion

Reuters- Alibaba is considering raising as much as $20 billion through a secondary listing in Hong Kong, people familiar with the matter told Reuters, lining up a second blockbuster deal following its 2014 record $25 billion floats in New York. The deal, which would be the sixth-biggest follow-on share sale ever, would give Alibaba a war chest to keep investing in technology - a priority for China as growth flags and as the world's second-largest economy faces an escalating trade spat with the United States. The e-commerce giant is working with financial advisers on the offering and is aiming to file an application confidentially in Hong Kong as early as the second half of 2019, three people said on condition of anonymity as the plans are not public yet. They cautioned that many d...
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L&T acquire 24.9 lakh shares of Mindtree, shareholding now up to 28.45%
26May By AnkitaNo Comments
Market

L&T acquire 24.9 lakh shares of Mindtree, shareholding now up to 28.45%

NEW DELHI: Infrastructure major Larsen and Toubro (L&T) acquired over 24.9 lakh shares of Mindtree from open market, taking its shareholding in the IT services firm to 28.45 per cent, according to a regulatory filing. "Larsen and Toubro Ltd has acquired 24,99,619 equity shares (with a face value of ₹10 each) of Mindtree Ltd on May 24, 2019," a BSE filing by Mindtree said. After the latest transaction, L&T's shareholding in Mindtree stands at 28.45 per cent. The latest stock purchase was made at ₹980 a piece. Earlier this month, L&T purchased around 20 per cent stake of V G Siddhartha and Cafe Coffee Day in Mindtree through a block deal for about ₹3,210 crore, and has since topped that up with share purchases from open market. On Thursday, L&T had ...
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Samsung shares on high after Google cut ties with Huawei
21May By AnkitaNo Comments
Market

Samsung shares on high after Google cut ties with Huawei

Samsung Electronics shares surged more than four percent on the back of its chief rival Huawei's mounting problems, including a decision by Google to sever ties with the Chinese mobile phone maker. US internet giant Google, whose Android mobile operating system powers most of the world's smartphones, said this week it is cutting ties with Huawei to comply with an executive order issued by President Donald Trump. The move could have dramatic implications for Huawei smartphone users, as the firm will no longer have access to Google's proprietary services which include the Gmail and Google Maps apps. Investors bet Huawei's loss could benefit Samsung, the world's biggest smartphone maker which has been facing increasing competition from its Chinese rival, sending its shares soaring 4....
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