Thursday, March 28

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.

Indian Airline Indigo shares fall over 3% on Founders dispute
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...
Online Platform Indiamart IPO subscribed 36 times
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, a...
True North sells 7.39% stake in Aster DM Healthcare for $64.7million
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 ...
IndiaMart IPO Opens Today
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...
Alibaba Planning a Second Listing in Hong Kong to Raise $20 Billion
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 ...
L&T acquire 24.9 lakh shares of Mindtree, shareholding now up to 28.45%
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...
Samsung shares on high after Google cut ties with Huawei
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...
Slack announce direct Listing, Will not go for traditional IPO
Market

Slack announce direct Listing, Will not go for traditional IPO

Slack Technologies, Inc. announced that it has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed public listing of its Class A common stock. The public listing is expected to take place after the SEC completes its review process, subject to market and other conditions. As per the information, Slack opt for a direct listing as opposed to a traditional IPO. This kind of listing gives other small investors to sell their shares to large investors - a strategy which follows for early trading. Slack is hoping for a valuation of more than $10 billion in the listing. However, the company did not specify the exact number of shares for the listing. Founded in 2013, Slack allows teams and...
Pinterest offers $15-$17 per share in IPO, Values below than $12 billion
Market

Pinterest offers $15-$17 per share in IPO, Values below than $12 billion

Social media platform Pinterest Inc set a price range of $15 to $17 per share for its IPO valuing it below than the $12 billion at which the company raises the last funding in 2017. Pinterest offers 75 million shares through its IPO. After this proposal, the company valuation will be at $10.6B vs previous valuation of $12.3B Earlier, Reuters had reported that Image search social media platform Pinterest list itself on the New York Stock Exchange under the symbol “PINS”. The company, which owns the image search website known for the food and fashion photos that its users post, reported annual revenue of $755.9 million in 2018, up 60 percent from a year earlier. But it remains unprofitable even though its net loss narrowed to $62.97 million in 2018 from $130 million a year ear...
Lyft valued at $24.3 billion in first ride-hailing IPO
Market

Lyft valued at $24.3 billion in first ride-hailing IPO

Lyft Inc was valued at $24.3 billion in the first initial public offering (IPO) of a ride-hailing startup, raising more than it had set off to do as investors overlooked uncertainty over its path to becoming a profitable company. Lyft's IPO sets the stage for the stock market debut of larger rival Uber Technologies Inc, which Reuters has reported will kick off in April. Uber has been told by its investment bankers that it could be valued at as much as $120 billion. The success of the IPO came despite Lyft's steep losses, criticism of its dual-class share structure and some concerns over its strategy for autonomous driving, for fear of missing out on the company's strong revenue growth. "In a good market, people look beyond things. They don't see the problems as much," said Brian ...
Pinterest files for IPO on NYSE
Market

Pinterest files for IPO on NYSE

Pinterest, an image sharing platform with an estimated 250 million users, filed for a public share offering Friday, the latest of the big venture-backed startups to hit Wall Street. The San Francisco-based bulletin board that connects people with interests including food, fashion, travel and lifestyle said it would trade under the symbol PINS on the New York Stock Exchange. "Pinterest is where more than 250 million people around the world go to get inspiration for their lives," the company said in its filing with the Securities and Exchange Commission, which is expected to seek a valuation of around $12 billion. "They come to discover ideas for just about anything you can imagine: daily activities like cooking dinner or deciding what to wear, major commitments like remodeling a h...