The US dollar was weaker due to speculation of another rate hike by the US Federal Reserve. Higher expectations of US and global interest rates were generated by unexpected rate increases from the Bank of Canada and the Reserve Bank of Australia this week. The Canadian dollar remained steady and the US dollar index slightly dipped. Contrarily, sterling and the euro both gained slightly. The Japanese yen was strengthened by data showing Japan's economy grew in the first quarter, higher than the initial estimate. The Chinese offshore yuan was weak due to China's weak trade data.

Oil prices were barely changed in Asia trade as investors assessed the potential impact of Saudi output cuts against concerns over a global economic slowdown. Brent crude futures fell 1 cent to $76.94 a barrel, with the US West Texas Intermediate futures up 5 cents at $72.58 a barrel. Supporting the benchmarks was Saudi Arabia's proposals for deep output cuts on Wednesday, though rising US fuel stocks and weak Chinese export data, as well as later comments from Citigroup analysts, capped price gains.

The S&P 500 and Nasdaq ended the day lower on Wednesday as investors booked profits after a long megacap stocks run and ahead of key economic events. The Russell 2000 climbed 1.78%. The US inflation data for May is expected to show consumer prices eased, although core prices remain high. The Bank of Canada's decision to raise interest rates pushed up the 2-year and 10-year Treasury yields. The CBOE Volatility Index closed at its lowest since 14 Feb 2020. Wells Fargo raised Netflix's price target, with shares climbing 0.12% on the news. Yext soared 38.44% and Campbell Soup fell 8.91%.

Investors await the Reserve Bank of India's monetary policy decision today, when the central bank could likely leave its key interest rate unchanged.

The Board of Titagarh Wagons is scheduled to meet on June 10 to consider and approve a proposal to raise funds by issue equity of shares or other securities including through preferential issue.

Besides, there is no broad-basing criteria for an AIF which can be formed with just a few or even a single local or offshore investor who are called limited partners (LPs). Since such funds are incorporated in India, AIF investment in a domestic company is treated as local investment. Even if an AIF has all overseas LPs, the fund's equity holding in a company in India is not considered as foreign direct investment (FDI).

The regulator also allowed taking insurance cover for invoicing facilities on the TReDS platform which would aid financiers to hedge default risks.

Both the bond issues of REC have base sizes of ₹500 crore and additional subscription options of ₹2,500 crore each, sources said. One of the bonds is set to mature on April 30, 2026, and the other on June 30, 2028, they said.

Since its lows of March 23, 2021, the Nifty PE has risen from 18.49 and now stands at 21.70. In the same period, its price to book value rose sharply from 2.34 to 4.9 and dividend yield fell from 2 to 1.45. During this period, the Nifty returned 125.8%

HSBC carried out its first rupee non-deliverable options trade with Reliance Industries, while executing non-deliverable forward transactions with other counterparties.

Overseas investors bought shares of financial services firms worth ₹17,671 crore in May, their highest monthly purchase in the sector in the last 29 months, according to Primeinfobase.com data. They purchased auto and auto components shares worth ₹8,700 crore, the highest monthly buy in over 10 years. FPIs bought shares worth ₹41,207 crore in May, the data showed.

Notably, the group recently achieved a key milestone in its $300-million foreign currency sustainability-linked bonds raised by Adani Electricity Mumbai Ltd (AEML) in 2021. AEML, which is Adani Transmission Ltd's distribution arm, raised the bonds as part of its $2-billion global medium-term notes program.

The Sensex closed at 63,142.96, up 350.08 points, or 0.56%, from Tuesday's close. The Nifty advanced 127.40 points, or 0.68%, to settle at 18,726.40. Both indices are now within 1% of their respective all-time highs recorded on December 1 last year.

With the liquidity surplus currently at around ₹2 lakh crore, the overnight call money rate has remained on the lower side, driving down banks' cost of funds.

The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).

Ashish Kacholia, a well-known investor, has sold a partial stake in D-link India through open-market transactions. The investor sold around 1.94 lakh shares (0.54%) of the company, reducing his stake from 2.11% in March. Kacholia has a varied portfolio that includes the hospitality, education, infra, and manufacturing sectors

Equity markets in India ended the day strong anticipating dovish policy action by the RBI governor, extending gains to the fourth consecutive session to more-than-six-month highs. Consumer goods, metals and realty stocks contributed to the rise of the blue-chip Nifty 50 and Sensex, which rose 0.68% to 18,726 and 0.56% to 63,143 respectively. The participation of FIIs as net buyers and anticipation of a positive revision in the RBI's inflation forecast during ongoing MPC meeting also led to today's market rally.

The Reserve Bank of India (RBI) has authorized insurance companies to operate in the trade receivable discounting system (TReDS) in a bid to solve low-rated buyers’ payment challenges. TReDS facilitates various parties like sellers, buyers and financiers making it a preferred mode of financing for Micro Small and Medium Enterprises (MSMEs). The platform processes transactions worth $8.3bn annually, but insurers' participation on the platform will aid financiers with credit needs to hedge default risks. The RBI circular stated that the stage at which insurance facility is to be availed will be specified by the operators of TReDS.

The names added on Wednesday are: QFX Markets, WinTrade, Guru Trade7 Limited, Bric Trade, Rubik Trade, Dream Trade, Mini Trade, and Trust Trade.

The Reserve Bank of India had announced its plans to expand the market in April and on Tuesday laid out guidelines for non-deliverable forward (NDF) contracts that can be issued to non-retail participants for hedging and are settled in Indian rupees.

Aruna Hotels' promoters and promoter groups have settled a Securities and Exchange Board of India (SEBI) case on the breach of SAST rules. The company's promoters paid ₹2.32 crore ($311,000) towards the settlement charges without admitting or denying the findings of regulators. SEBI had earlier issued a show-cause notice to the applicants for violating SAST (Substantial Acquisition of Shares and Takeovers) norms, before recommending that the matter be settled on payment of the charges.

Traders and investors should be cautious while trading in crude oil futures due to currency fluctuations, according to Anuj Gupta, the VP of commodity and currency research at IIFL Securities. Although Saudi Arabia has said it will start reducing its daily oil output to help stabilise the oil markets, Gupta advises traders and investors to buy on dips for mid to long term as the demand for crude oil is expected to increase. Gupta predicts that crude oil prices are likely to remain range-bound, with prices expected to test $80 to $85 levels in the near term.

The US Securities and Exchange Commission has sued Binance and Coinbase for alleged violations of US securities laws, citing various lapses. Fellows from the largest cryptocurrency exchange, Binance and its CEO Changpeng Zhao are accused of artificially inflating trading volumes, making misleading claims and surreptitiously controlling customers' assets; charges the company says will be "vigorously" defended. Coinbase, meanwhile, is accused of operating illegally without registration with the SEC, evading disclosures and earning billions of dollars through transactions. Investors reportedly withdrew $1.43bn from Binance and its US affiliate following the announcement of the lawsuit.

The price was at a 4.94% discount to the floor price of Rs 29.94 per share. The QIP, which opened on June 1, was fully subscribed and received a strong response from domestic as well as foreign investors, the bank said. Life Insurance Corporation of India took up the biggest chunk of shares with an allotment of 8.34 crore shares, which is nearly 24% of the capital raised.

The US Federal Reserve is not expected to raise rates at its June meeting, according to a Reuters poll, although a number of analysts expect at least one further increase this year. The poll saw 90% of the 86 economists surveyed predict that the federal funds rate will remain at 5.00% to 5.25%. A minority predict a further rise of 25 basis points to 5.25%-5.50%. However, over a third of respondents expect a rate hike later this year, including eight analysts who see one coming in July.

Life Insurance Corp (LIC) has raised its stake in Indian IT services firm Tech Mahindra to 8.8% from 6.8%, having added 1.96 crore shares through open market transactions. LIC saw its income from investments increase slightly to INR67,846 crore ($10.5bn) for the January-March period. Tech Mahindra shares ended 0.85% higher at INR1,095 on the NSE on 28 June, and the company has an average target of INR1,086.09, just under the current price, according to Trendlyne.

The S&P 500 and Nasdaq fell after reversing gains as technology stocks plummeted, with more than half of sub-sectors recording a decline. Inflation data in the US, due to be released shortly, is expected to show consumer prices marginally cooled in May, while core prices remained elevated

India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago. The RBI's continuous purchase underscores gold's prominence in international reserve portfolios amid market volatility and heightened risk. The rising share of gold in reserves is likely part of RBI's diversification strategy to reduce risk from geopolitical risks and the COVID-19 pandemic.

Over half of equity investors in India are from non-metro areas, according to a study by equity investment advisory firm Research and Ranking. Of the 2,000 respondents, around 50% of investors had not experienced a complete business cycle, suggesting potential limited exposure to market fluctuations, but around 60% adopted a long-term investing approach. The survey also found that 57% of investors yearned to invest a lump sum in equity, while 43% preferred a more measured approach via investing through systematic investment plans.

Equity mutual funds with exposure to IT stocks have seen returns of 15-20% in the last five years. Five technology funds are recommended: ICICI Prudential Technology, Tata Digital India, Aditya Birla Sun Life Digital India, SBI Technology Opportunities, and Franklin India Technology. Each has varying net asset values and trailing returns over different time periods, as well as assets under management, expense ratios, and minimum investment requirements. Despite concerns over recession and cuts in spending, technology investments appear to have weathered the storm.

​Here is a list of the five most and least preferred mutual funds of the last financial year.

Radhagobind Commercial will trade ex-split on June 10, after announcing its shares will split in a ratio of 1:10. The company's operations include trading in fabrics and textiles material. The stock split is expected to enhance the liquidity of shares in the market. The stock price will be adjusted according to the split ratio. Meanwhile, three other firms are commencing ex-dividend trading on June 8: Bikaji Foods International is offering Rs 0.75 per equity share, Ponni Sugars (Erode) has declared a dividend of Rs 6.5 per equity share, and Qgo Finance is offering Rs 0.1 per share dividend.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

The 30-share BSE Sensex closed up 350.08 points at 63142.96

Indian stocks continued to rise as the S&P BSE Sensex gained over 350 points on Wednesday. The Nifty50 closed above 18700 levels, scaling to its first high since December 5, 2022. Telecom, utilities, metals, and capital goods sectors showed positive buying trends. Stocks that performed well include Suzlon Energy, Aster DM Healthcare, and Tata Motors - posting either a fresh 52-week high or a volume or price breakout.

The Nifty50, the benchmark index of the National Stock Exchange (NSE) of India, broke through the critical resistance level of 18,700 points and even closed higher at 18,726.40 points on Wednesday, signalling an attempt at an uptrend. Analysts predict that the Nifty could reach an all-time-high of over 18,889 in the short term, with immediate support at 18,650 and resistance around 18,900. The Nifty has already broken out of a sideways pattern, which positions it for a positive move ahead of the expected RBI rate decision tomorrow.

Cipla, Kotak Bank, Bajaj Finance, M&M and Maruti Suzuki were among the top losers on NSE in today's trade.

The Nifty Auto index closed 0.61 per cent up at 14819.45.

The Nifty IT index closed 0.78 per cent up at 28913.7.

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Urban Enviro Waste Management is planning to go public with an IPO on June 12. The company provides solid waste management services, including waste collection, transportation, segregation, and processing across several Indian states. The IPO consists of the fresh issue of 9.2 lakh equity shares and a face value of Rs 10 each, aggregating Rs 9.2 crore, at a price of Rs 100 per share. The net proceeds of the issue will be used for repayment of secured borrowings, working capital requirements, and other general corporate purposes. The IPO will be listed on the NSE Emerge platform.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

Gold prices gained Rs 25 to Rs 60,800 per 10 grams in the national capital on Wednesday, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,775 per 10 grams.Silver, however, declined Rs 150 to Rs 72,800 per kg.

The Nifty Bank index closed 0.25 per cent up at 44275.3.

The Nifty Realty index closed 1.59 per cent up at 506.3.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

In the Nifty pack, 42 stocks closed in the green, while 8 stocks ended in the red.

The IPO of IKIO Lighting, which closes on June 8, has been subscribed 6.83 times so far, with non-institutional investors leading the heavy bidding. The company's shares are commanding a premium of Rs 118 in the grey market, with listing gains looking increasingly likely.

Valiant Laboratories Ltd, the subsidiary of Valiant Organics said it has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with stock market regulator Sebi.

Tata Technologies, a unit of Tata Motors, is expected to list its IPO in five to six months. In the unlisted market, shares are trading at around Rs 850. Analysts expect the stock to list at a premium and currently predict a bump of between 20% and 30%.

The price band for the issue has been set at Rs 169 to Rs 173 per share, and the IPO size is estimated to be about Rs 105.14 crore at the upper price band. Proceeds from the IPO will be utilised to support the company's working capital requirements, acquisitions of businesses in similar or complementary areas, general corporate purposes and meeting its issue expenses.

The issue, which closes on June 8, comprises a fresh equity issue of up to Rs 350 crore and an offer for sale (OFS) of up to 90 lakh shares. The company has set a price band of Rs 270-285 per unit and investors can bid for a minimum of 52 shares in one lot and multiples thereafter. At the upper end, the company plans to raise about Rs 607 crore.

IKIO Lighting designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands. The company is largely into manufacturing premium products. Its products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and others.

The company informed the bourses that it allocated 63.8 million shares at ₹285 per share on Monday to anchor investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs AMC, Malabar India Fund, Mirae Asset Global, among others. The company has fixed the price band for the public issue at ₹270 to ₹285 per share.

The public sector bank, which wants to monetise its non-core assets, held consultations with investment bankers recently to carry out the proposed stake sale, said the people aware of the developments.

Hemant Surgicals made a strong debut on the BSE SME platform with its shares being listed at a 90% premium over its issue price of Rs 90. The stock closed at Rs 179.55, a nearly 100% increase over the offer price. The company's Rs 24.8 crore public offer was oversubscribed by 139 times.

Pune-based IT services firm Vinsys IT plans to use the book-building process to float 3.89 million equity shares of Rs 10 each, and will appoint merchant bankers to the issue.

Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.

Noida-based company IKIO Lighting's Rs 607 crore initial public offering (IPO) will open for subscription on 1 June and close on 8 June. The company's stock is commanding a premium of Rs 92-94 in the unlisted market, indicating the demand for the shares, according to market sources. Grey market premiums are subject to change. The IPO consists of a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The net proceeds will go towards general corporate purposes, investment in subsidiary IKIO Solutions, repaying borrowings, and setting up a new facility in Noida.

BYJU'S, the leading edtech company, will launch the Initial Public Offering (IPO) for its subsidiary Aakash Education Services by mid-next year. AESL is expected to earn revenue of Rs 4,000 crores with operational profits of Rs 900 crores in FY23-24. The IPO will provide significant capital infusion to enhance Aakash's infrastructure and reach, extending high-quality test-prep education to a larger number of students.

Long-term investors may consider the IPO given the consistent growth in its contract manufacturing for Signify India (erstwhile Philips India) driven by new product development, strong position in customised lighting solutions in the growing segment of branded retail stores, superior operating margin than its peers, and emerging growth opportunities from exports by supplying lighting products for recreational vehicles in the US.

Nuvama PE is currently investing from its third late-stage/pre-IPO fund under the Crossover Opportunities banner. This fund has so far raised ₹3,800 crore. The latest crossover fund has invested in companies such as Ola Electric and DailyHunt.

IKIO Lighting has set a price band of Rs 270-285 per equity share for its upcoming IPO. The Noida-based company has reserved 50% of the offering for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The IPO comprises a fresh equity issue of up to Rs 350 crore and offer for sale of up to 90 lakh shares by selling shareholders. Meanwhile, Sonalis Consumer Products is set to launch an SME IPO on June 7 with a fixed price of Rs 30 per equity share.

Maharashtra-based passive telecom infrastructure provider, Kore Digital's initial share sale opened on Friday with a price band of INR 180. This IPO is a fresh issue of up to 10 lakh equity shares of face value INR 10 each, aiming to raise around INR 18 crore. The net proceeds will be used to meet working capital requirements, investment in strategic acquisition, and other general corporate expenses. The allotment will be on June 12th and the shares will be listed on NSE Emerge on June 15th.

Indian LED lighting solutions manufacturer IKIO Lighting is launching its initial public offering (IPO) June 6-8, with shares expected to start trading on June 16. The company's shares will likely be listed at between INR270 ($3.81) and INR285 per equity share, with the upper end of that range raising INR607 crore for the company. The IPO will include a fresh equity issue of up to INR350 crore and an offer for sale of up to 9 million shares. The proceeds will be used to repay borrowings, invest in subsidiary IKIO Solutions and for general corporate purposes.

Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.

Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.

CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.

Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.

Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment

Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.

The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.

Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.

Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.

The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.

Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements

Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'

Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.

Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.

The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.

Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from

Crayons Advertising, a homegrown integrated advertising agency, is set to go public on Monday, May 22, with a price band of Rs 62-65 per share. The company plans to use the proceeds from the public issue to invest in setting up its own film and animation studios and enhancing its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech.

Krishca Strapping Solutions has announced its Initial Public Offering (IPO), planning to raise Rs 18 crore. The manufacturing company, incorporated in 2017, specializes in making and selling high-quality steel straps, steel seals, strapping tools and other packaging solutions. The IPO's size consists of up to 33.2 lakh equity shares with a face value of Rs 10 each. The company has a steel strapping capacity of 18,000 MT annually and aims to use the net proceeds for setting up a new strapping line, repayment of debt and for other corporate purposes.

Nexus Select Trust, India's first retail assets-led real estate investment trust (REIT), backed by Blackstone Group, has raised over INR1.44bn ($19m), accounting for 45% of a $429m IPO, from 16 institutional investors in its fully-subscribed anchor book. The REIT owns 17 assets across 14 cities with Mumbai, Bangalore and Delhi being the primary markets. At the upper end of the IPO's price band, which was INR95-100 per unit, the issue was subscribed 6.55 times in the non-institutional investor category and 5.06 times by institutional investors.

Nexus Select Trust REIT IPO's share allotment is set to take place on May 16th, with the process being supervised by the registrar. Investors may receive shares based on a lottery basis. Investors can check their allotment status through the BSE or the registrar's website. Currently, Nexus Select Trust shares are commanding a premium of ₹2 in the unlisted market. The company aims to offer a pre-tax yield of 8% in FY24, at the upper price band, and will be India’s first REIT with rent-yielding retail real estate assets.

Sources told ET that the total IPO size would be Rs 900 - 1,100 crore, and the company may consider a Pre IPO placement of Rs 123 crore.

The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of ₹95-100 per unit.

Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.

India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.

The ports business of the Sajjan Jindal-led JSW Group plans to deploy the proceeds of the public issue to retire its debt and fund capacity expansion projects. The IPO is entirely a fresh share issue.

Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyer’s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May.

Margins may remain under pressure as the focus shifts to higher distributor payouts and investments in stepping up new channels, analysts say.

A daily round-up of the most interesting articles to help jump-start the day.

A daily round-up of the most interesting articles to help jump-start the day.

A daily round-up of the most interesting articles to help jump-start the day.

A daily round-up of the most interesting articles to help jump-start the day.

The US dollar was weaker due to speculation of another rate hike by the US Federal Reserve. Higher expectations of US and global interest rates were generated by unexpected rate increases from the Bank of Canada and the Reserve Bank of Australia this week. The Canadian dollar remained steady and the US dollar index slightly dipped. Contrarily, sterling and the euro both gained slightly. The Japanese yen was strengthened by data showing Japan's economy grew in the first quarter, higher than the initial estimate. The Chinese offshore yuan was weak due to China's weak trade data.

Oil prices were barely changed in Asia trade as investors assessed the potential impact of Saudi output cuts against concerns over a global economic slowdown. Brent crude futures fell 1 cent to $76.94 a barrel, with the US West Texas Intermediate futures up 5 cents at $72.58 a barrel. Supporting the benchmarks was Saudi Arabia's proposals for deep output cuts on Wednesday, though rising US fuel stocks and weak Chinese export data, as well as later comments from Citigroup analysts, capped price gains.

The S&P 500 and Nasdaq ended the day lower on Wednesday as investors booked profits after a long megacap stocks run and ahead of key economic events. The Russell 2000 climbed 1.78%. The US inflation data for May is expected to show consumer prices eased, although core prices remain high. The Bank of Canada's decision to raise interest rates pushed up the 2-year and 10-year Treasury yields. The CBOE Volatility Index closed at its lowest since 14 Feb 2020. Wells Fargo raised Netflix's price target, with shares climbing 0.12% on the news. Yext soared 38.44% and Campbell Soup fell 8.91%.

Investors await the Reserve Bank of India's monetary policy decision today, when the central bank could likely leave its key interest rate unchanged.

The Board of Titagarh Wagons is scheduled to meet on June 10 to consider and approve a proposal to raise funds by issue equity of shares or other securities including through preferential issue.

Besides, there is no broad-basing criteria for an AIF which can be formed with just a few or even a single local or offshore investor who are called limited partners (LPs). Since such funds are incorporated in India, AIF investment in a domestic company is treated as local investment. Even if an AIF has all overseas LPs, the fund's equity holding in a company in India is not considered as foreign direct investment (FDI).

The regulator also allowed taking insurance cover for invoicing facilities on the TReDS platform which would aid financiers to hedge default risks.

Both the bond issues of REC have base sizes of ₹500 crore and additional subscription options of ₹2,500 crore each, sources said. One of the bonds is set to mature on April 30, 2026, and the other on June 30, 2028, they said.

Since its lows of March 23, 2021, the Nifty PE has risen from 18.49 and now stands at 21.70. In the same period, its price to book value rose sharply from 2.34 to 4.9 and dividend yield fell from 2 to 1.45. During this period, the Nifty returned 125.8%

HSBC carried out its first rupee non-deliverable options trade with Reliance Industries, while executing non-deliverable forward transactions with other counterparties.

Overseas investors bought shares of financial services firms worth ₹17,671 crore in May, their highest monthly purchase in the sector in the last 29 months, according to Primeinfobase.com data. They purchased auto and auto components shares worth ₹8,700 crore, the highest monthly buy in over 10 years. FPIs bought shares worth ₹41,207 crore in May, the data showed.

Notably, the group recently achieved a key milestone in its $300-million foreign currency sustainability-linked bonds raised by Adani Electricity Mumbai Ltd (AEML) in 2021. AEML, which is Adani Transmission Ltd's distribution arm, raised the bonds as part of its $2-billion global medium-term notes program.

The Sensex closed at 63,142.96, up 350.08 points, or 0.56%, from Tuesday's close. The Nifty advanced 127.40 points, or 0.68%, to settle at 18,726.40. Both indices are now within 1% of their respective all-time highs recorded on December 1 last year.

With the liquidity surplus currently at around ₹2 lakh crore, the overnight call money rate has remained on the lower side, driving down banks' cost of funds.

The loans pertained to various banks, and the nature of the obligation is fund-based working capital, non-fund-based working capital, term loans and FCCB (foreign currency convertible bonds).

Ashish Kacholia, a well-known investor, has sold a partial stake in D-link India through open-market transactions. The investor sold around 1.94 lakh shares (0.54%) of the company, reducing his stake from 2.11% in March. Kacholia has a varied portfolio that includes the hospitality, education, infra, and manufacturing sectors

Equity markets in India ended the day strong anticipating dovish policy action by the RBI governor, extending gains to the fourth consecutive session to more-than-six-month highs. Consumer goods, metals and realty stocks contributed to the rise of the blue-chip Nifty 50 and Sensex, which rose 0.68% to 18,726 and 0.56% to 63,143 respectively. The participation of FIIs as net buyers and anticipation of a positive revision in the RBI's inflation forecast during ongoing MPC meeting also led to today's market rally.

The Reserve Bank of India (RBI) has authorized insurance companies to operate in the trade receivable discounting system (TReDS) in a bid to solve low-rated buyers’ payment challenges. TReDS facilitates various parties like sellers, buyers and financiers making it a preferred mode of financing for Micro Small and Medium Enterprises (MSMEs). The platform processes transactions worth $8.3bn annually, but insurers' participation on the platform will aid financiers with credit needs to hedge default risks. The RBI circular stated that the stage at which insurance facility is to be availed will be specified by the operators of TReDS.

The names added on Wednesday are: QFX Markets, WinTrade, Guru Trade7 Limited, Bric Trade, Rubik Trade, Dream Trade, Mini Trade, and Trust Trade.

The Reserve Bank of India had announced its plans to expand the market in April and on Tuesday laid out guidelines for non-deliverable forward (NDF) contracts that can be issued to non-retail participants for hedging and are settled in Indian rupees.

Aruna Hotels' promoters and promoter groups have settled a Securities and Exchange Board of India (SEBI) case on the breach of SAST rules. The company's promoters paid ₹2.32 crore ($311,000) towards the settlement charges without admitting or denying the findings of regulators. SEBI had earlier issued a show-cause notice to the applicants for violating SAST (Substantial Acquisition of Shares and Takeovers) norms, before recommending that the matter be settled on payment of the charges.

Traders and investors should be cautious while trading in crude oil futures due to currency fluctuations, according to Anuj Gupta, the VP of commodity and currency research at IIFL Securities. Although Saudi Arabia has said it will start reducing its daily oil output to help stabilise the oil markets, Gupta advises traders and investors to buy on dips for mid to long term as the demand for crude oil is expected to increase. Gupta predicts that crude oil prices are likely to remain range-bound, with prices expected to test $80 to $85 levels in the near term.

The US Securities and Exchange Commission has sued Binance and Coinbase for alleged violations of US securities laws, citing various lapses. Fellows from the largest cryptocurrency exchange, Binance and its CEO Changpeng Zhao are accused of artificially inflating trading volumes, making misleading claims and surreptitiously controlling customers' assets; charges the company says will be "vigorously" defended. Coinbase, meanwhile, is accused of operating illegally without registration with the SEC, evading disclosures and earning billions of dollars through transactions. Investors reportedly withdrew $1.43bn from Binance and its US affiliate following the announcement of the lawsuit.

The price was at a 4.94% discount to the floor price of Rs 29.94 per share. The QIP, which opened on June 1, was fully subscribed and received a strong response from domestic as well as foreign investors, the bank said. Life Insurance Corporation of India took up the biggest chunk of shares with an allotment of 8.34 crore shares, which is nearly 24% of the capital raised.

The US Federal Reserve is not expected to raise rates at its June meeting, according to a Reuters poll, although a number of analysts expect at least one further increase this year. The poll saw 90% of the 86 economists surveyed predict that the federal funds rate will remain at 5.00% to 5.25%. A minority predict a further rise of 25 basis points to 5.25%-5.50%. However, over a third of respondents expect a rate hike later this year, including eight analysts who see one coming in July.

Life Insurance Corp (LIC) has raised its stake in Indian IT services firm Tech Mahindra to 8.8% from 6.8%, having added 1.96 crore shares through open market transactions. LIC saw its income from investments increase slightly to INR67,846 crore ($10.5bn) for the January-March period. Tech Mahindra shares ended 0.85% higher at INR1,095 on the NSE on 28 June, and the company has an average target of INR1,086.09, just under the current price, according to Trendlyne.

The S&P 500 and Nasdaq fell after reversing gains as technology stocks plummeted, with more than half of sub-sectors recording a decline. Inflation data in the US, due to be released shortly, is expected to show consumer prices marginally cooled in May, while core prices remained elevated

India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago. The RBI's continuous purchase underscores gold's prominence in international reserve portfolios amid market volatility and heightened risk. The rising share of gold in reserves is likely part of RBI's diversification strategy to reduce risk from geopolitical risks and the COVID-19 pandemic.

Over half of equity investors in India are from non-metro areas, according to a study by equity investment advisory firm Research and Ranking. Of the 2,000 respondents, around 50% of investors had not experienced a complete business cycle, suggesting potential limited exposure to market fluctuations, but around 60% adopted a long-term investing approach. The survey also found that 57% of investors yearned to invest a lump sum in equity, while 43% preferred a more measured approach via investing through systematic investment plans.

Equity mutual funds with exposure to IT stocks have seen returns of 15-20% in the last five years. Five technology funds are recommended: ICICI Prudential Technology, Tata Digital India, Aditya Birla Sun Life Digital India, SBI Technology Opportunities, and Franklin India Technology. Each has varying net asset values and trailing returns over different time periods, as well as assets under management, expense ratios, and minimum investment requirements. Despite concerns over recession and cuts in spending, technology investments appear to have weathered the storm.

​Here is a list of the five most and least preferred mutual funds of the last financial year.

Radhagobind Commercial will trade ex-split on June 10, after announcing its shares will split in a ratio of 1:10. The company's operations include trading in fabrics and textiles material. The stock split is expected to enhance the liquidity of shares in the market. The stock price will be adjusted according to the split ratio. Meanwhile, three other firms are commencing ex-dividend trading on June 8: Bikaji Foods International is offering Rs 0.75 per equity share, Ponni Sugars (Erode) has declared a dividend of Rs 6.5 per equity share, and Qgo Finance is offering Rs 0.1 per share dividend.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

The 30-share BSE Sensex closed up 350.08 points at 63142.96

Indian stocks continued to rise as the S&P BSE Sensex gained over 350 points on Wednesday. The Nifty50 closed above 18700 levels, scaling to its first high since December 5, 2022. Telecom, utilities, metals, and capital goods sectors showed positive buying trends. Stocks that performed well include Suzlon Energy, Aster DM Healthcare, and Tata Motors - posting either a fresh 52-week high or a volume or price breakout.

The Nifty50, the benchmark index of the National Stock Exchange (NSE) of India, broke through the critical resistance level of 18,700 points and even closed higher at 18,726.40 points on Wednesday, signalling an attempt at an uptrend. Analysts predict that the Nifty could reach an all-time-high of over 18,889 in the short term, with immediate support at 18,650 and resistance around 18,900. The Nifty has already broken out of a sideways pattern, which positions it for a positive move ahead of the expected RBI rate decision tomorrow.

Cipla, Kotak Bank, Bajaj Finance, M&M and Maruti Suzuki were among the top losers on NSE in today's trade.

The Nifty Auto index closed 0.61 per cent up at 14819.45.

The Nifty IT index closed 0.78 per cent up at 28913.7.

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Urban Enviro Waste Management is planning to go public with an IPO on June 12. The company provides solid waste management services, including waste collection, transportation, segregation, and processing across several Indian states. The IPO consists of the fresh issue of 9.2 lakh equity shares and a face value of Rs 10 each, aggregating Rs 9.2 crore, at a price of Rs 100 per share. The net proceeds of the issue will be used for repayment of secured borrowings, working capital requirements, and other general corporate purposes. The IPO will be listed on the NSE Emerge platform.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

Gold prices gained Rs 25 to Rs 60,800 per 10 grams in the national capital on Wednesday, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,775 per 10 grams.Silver, however, declined Rs 150 to Rs 72,800 per kg.

The Nifty Bank index closed 0.25 per cent up at 44275.3.

The Nifty Realty index closed 1.59 per cent up at 506.3.

The 30-share BSE Sensex closed up 350.08 points at 63142.96

In the Nifty pack, 42 stocks closed in the green, while 8 stocks ended in the red.