Market | Pixr8 News

Berkshire Hathaway Looking to Pick up Stake in Kotak Mahindra Bank

7Dec By PriyankaNo Comments

Market

Berkshire Hathaway Looking to Pick up Stake in Kotak Mahindra Bank

As per the report, Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in India's Kotak Mahindra Bank. Berkshire Hathaway may invest between USD 4 billion and USD 6 billion in the lender by buying promoter stake or through a preferential allotment. Following the news, the stock of kotak mahindra which opened on a positive note, further jumped 13.86 per cent to the hit an intra-day high of Rs 1,345.35. At 1330 hrs the stock was trading at Rs 1,239, up 4.87 per cent from the previous close. On NSE, following a similar trend, the stock soared 14.03 per cent to Rs 1,345.95, its highest during the day. It was quoting at Rs 1,238.35, an increase of 4.92 per cent from the previous close, at 1330 hrs. The Reserve Bank had earlier asked promoters of the bank to b...

Ballooning United States Deficit is Good News for Indian Gold Investors

28Nov By Gauri SinghNo Comments

Market

Ballooning United States Deficit is Good News for Indian Gold Investors

The United States federal deficit for October ballooned up to more than $100 billion, which is almost 58 percent more than the figures we had for last year. In October of 2017, the United States saw a monthly deficit of $63 billion, but the figures have gone even higher this year. The net spending by consumers in October rose by some 18 percent, whereas the receipts collected showed a meager increase of 7 percent. The Congressional Budget Office (CBO) has said that due to current ongoing projects, the federal deficit in the United States is expected to go up over the $1 trillion mark. Last time we saw the United States federal deficit cross the $1 trillion mark, gold prices made a massive jump to end at over $1,800 per ounce. Gold has not yet participated in this deficit, because ...

Mrs. Bector’s Food & Sansera Engineering Get SEBI Nod for IPO

13Nov By Gauri SinghNo Comments

Market

Mrs. Bector’s Food & Sansera Engineering Get SEBI Nod for IPO

Two companies of two different sectors have received regulatory nods to float initial public offerings (IPOs). Those two companies are biscuit maker Mrs. Bector's Food Specialties and automotive and aerospace component manufacturer Sansera Engineering. With this approval, SEBI has agreed upon a total of 65 IPO proposals in 2018. However, last year, it had cleared 46 proposals. Mrs. Bector's Food is a Ludhiana based food company and it filed its draft proposal on 13 August. The company counts firms like CX Partners and Gateway Partners as its backers. The IPO demanded a sale of shares worth Rs 800 crore by promoter Ajay Bector and CX Partners and Gateway Partners. It will result in 26-27% stake dilution, valuing the biscuit maker at Rs 3,000 crore ($428 million). CX Partners and...

Payment Solution AGS Transact Gets SEBI Nod for IPO

30Oct By Gauri SinghNo Comments

Market

Payment Solution AGS Transact Gets SEBI Nod for IPO

AGS Transact Technologies, a payment solutions provider has received SEBI’s official nod to launch an initial public offering (IPO). The company was recently backed by private equity firms TPG Growth and Actis until a few months ago. The Securities and Exchange Board of India (SEBI) issued final observations to AGS Transact’s IPO proposal on 26 October. AGS had filed its draft red herring prospectus (DRHP) with SEBI in mid-August. With this nod, SEBI, as of now, has approved 62 IPO proposals in2018. In 2017, the regulatory authority cleared 46 IPO proposals. AGS’ Rs 1,000-crore IPO comprises fresh shares worth Rs 400 crore apart from equity of promoter Ravi Goyal and other individual shareholders worth Rs 600 crore. Also, AGS Transact may raise Rs 150 crore in pre-IPO placement as...

US Based Startup Cloudflare to Launch a $3.5 billion IPO

24Oct By Gauri SinghNo Comments

Market

US Based Startup Cloudflare to Launch a $3.5 billion IPO

US startup Cloudflare whose software makes websites load faster and with greater security is planning to launch its initial public offering (IPO) that could value it at more than $3.5 billion. The company is expecting to go public in the first half of next year, joining a string of software and internet firms seeking to tap the stock market and capitalize on strong investor appetite and rich valuations. The IPO will be led by investment bank Goldman Sachs, however, the exact timing of the IPO has not been finalized. Founded in 2009 by Lee Holloway, Matthew Prince, and Michelle Zatlyn, Cloudflare as of now, has raised a total of $182.1 million. Cloudflare’s services help websites load faster and prevent security breaches. The company claims to have more than 154 data centers and se...

Top 6 Indian Stocks You Need to Pick During Trouble Times

20Oct By Gauri SinghNo Comments

Market

Top 6 Indian Stocks You Need to Pick During Trouble Times

Investing in stocks is a risky job and often people are confused about which stock to choose while they invest a sum. The market since the start of the year 2017 had been very strong with the Nifty registering a 35 percent growth. However, some of the players wiped out of in last 2 months. The index shed more than 10 percent in 2 months surrounded by consistent volatility. This is expected to continue for a few months from now and therefore, people need to dig deep into the market to choose the right stock to invest in. Here we have a list of the top 6 Indian stocks that are preferably beneficial in long-term and also the ones that you should pick during trouble times. 1) GRAPHITE INDIA – This company is basically concerned with the development, manufacturing and marketing o...

Do You Know India’s First Profitable E-commerce Company Lost its 71% Value in One Day

18Oct By Gauri SinghNo Comments

Market

Do You Know India’s First Profitable E-commerce Company Lost its 71% Value in One Day

Indian internet and e-commerce conglomerate Infibeam which is one of the most important companies in the country has lost 71 percent of its market value on a single day after a WhatsApp message circulating among traders raised issues about the e-commerce company’s accounting practices. The stock of the company collapsed as much as 73 percent before closing 71 percent lower at 58.45 rupees on Friday. The WhatsApp message was sent a few months ago by an Equirus analyst to some clients. This was told by people familiar with the matter asking not to be revealed as they aren’t authorized to speak on the matter. The fall in the valuation induced the company to make a voluntary clarification or explanation to the exchanges stating that there was no pending information or announcement tha...

Dubai’s Largest Payment Processing Firm to Launch IPO

10Oct By Gauri SinghNo Comments

Market

Dubai’s Largest Payment Processing Firm to Launch IPO

Dubai-based payment processing firm called Network International which is the largest of its kind in the Middle East and Africa, is currently evaluating the possibilities and expecting to launch its initial public offering. The company is jointly owned by Emirates NBD and private equity firms Warburg Pincus and General Atlantic. The company stated that its shareholders "are evaluating various strategic options with respect to NI, which may include a potential initial public offering. At this point in time, no decisions have been taken as to whether NI or its shareholders will proceed with any such transactions.” However, if NI and its shareholders decide to move forward with any such transaction, further announcements will be made in due course. Earlier in September, the company’s ow...

China’s Largest Music-Streaming Company Files For US IPO

3Oct By Gauri SinghNo Comments

Market

China’s Largest Music-Streaming Company Files For US IPO

China’s largest music-streaming company Tencent Music Entertainment Group has filed an initial public offering (IPO) in the United States under the symbol "TME". This is expected to be the biggest US IPO by a Chinese company. The company is expecting a valuation of about $25 billion. It includes Spotify-like digital streaming apps QQ Music, Kugou and karaoke app WeSing. The music company is expecting to raise an amount in its first IPO filings which is used to calculate registration fees. The final size of the IPO could be different. Market leader Spotify debuted in April and its shares rose nearly 13% on the first trading day. The company also reported a profit of $263 million on a revenue of $1.30 billion for six months ended June 30. Tencent owns 58.1% stake in Tencent Music, a...

China’s Mobile Internet Firm Cootek Inc Listed on the NYSE for IPO

29Sep By Gauri SinghNo Comments

Market

China’s Mobile Internet Firm Cootek Inc Listed on the NYSE for IPO

China’s mobile internet company CooTek (Cayman) Inc has been now listed on the New York Stock Exchange (NYSE). The company that is based in East China's Shanghai started trading on Friday. The company issued 4.35 million American Depository Shares (ADS) and raised $52.2 million. Every ADS of CooTek was priced at $12. The share price of CooTek was traded lower than its opening price of $11.5 in the first four trading hours of the first trading session. The funds secured through this initial public offering are planned to be utilized by the company in the marketing of the products. CooTek generally earns its revenue from the advertisement with its software product TouchPal Keyboard and other APPs on fitness and healthcare. The main motive of the company behind its entry on the NYSE ...

China’s English Learning Platform LAIX Debuts on NYSE

28Sep By Gauri SinghNo Comments

Market

China’s English Learning Platform LAIX Debuts on NYSE

China’s AI-based English learning platform LAIX Inc has debuted on the New York Stock Exchange (NYSE) with its initial public offering (IPO), trading under the ticker symbol of "LAIX." The company priced its initial public offering of 5,750,000 American depositary shares (ADSs) at $12.50 per ADS. The total offering size was roughly $71.9 million. Along with this, LAIX has granted the underwriters an over-allotment option, exercisable within 30 days. "Listing on the NYSE will make LAIX a more international company, which can help us attract customers all over the world, as we believe our English learning platform driven by AI not only can serve Chinese English learners, but also can help English learners in other countries," said Yi Wang, chairman and chief executive officer of LAIX. ...

Advantages Of Opening Demat Account With India’s Top Stock Broking Firm Angel Broking

27Sep By AnkitaNo Comments

Market

Advantages Of Opening Demat Account With India’s Top Stock Broking Firm Angel Broking

Trading in stock markets has become an important part of the business world these days. As far as the fundraising of the companies is concerned, the only thing the companies look forward to is going public and trading their shares in the stock market. Therefore, with the increase in the stock market trading, the use of DEMAT accounts has also taken a step forward. But do you ever wonder where to open a Demat account? We have an answer for that too. Trading in securities and stocks is risky and thus, you need to have your account at a place which is fully trustworthy and reliable and India based Angel Broking firm fulfills all that. Angel Broking, as you all might have heard, is the most popular Indian Stock Broking firm that came into existence in 1987. Now, what is a D...