Shares of GE Vernova T&D India fell to the lower circuit limit of 5% at Rs 1,823.50 after promoter Grid Equipments Private Ltd announced plans to sell up to 8.38% of its stake. The offer for sale includes a base of 1.4 crore equity shares, with a floor price set at Rs 1,550 per share.
Foreign institutional investors (FIIs) are increasing bullish positions as the Nifty index hovers above 24,200, with immediate resistance at 24,350 and support at 24,200. A 1.62% rise in open interest for Nifty November futures indicates sustained bullish activity, with analysts noting that a breakout above 24,350 could lead to a target of 24,550. Immediate support levels are identified at 24,130–24,100, with further support at 23,980.
The global Healthcare RFID Market is experiencing significant growth driven by technological advancements, changing consumer preferences, and a focus on sustainability. Key objectives include forecasting market size across regions, analyzing growth factors, and identifying major players and opportunities. The report emphasizes the importance of strategic insights and competitive analysis to navigate this evolving landscape effectively.
Findi has acquired Tata Communications Payment Solutions, adding 4,600 ATMs and significantly expanding its digital payment network. This strategic move is expected to enhance Findi's revenue and EBITDA, leading to an upgraded valuation of A$9.68 per share, reflecting strong growth potential in FY 2026. The upcoming H1 FY 2025 results will provide further insights into the impact of this acquisition on Findi's financial performance.
IG
05:19 26.11.2024
The year 2024 has seen a significant influx of funds through IPOs, with over 75 companies raising more than Rs 1.2 lakh crore. However, around 40% of these new entrants are now trading below their issue prices, following a market correction that began in October. Notable companies like ECOS India Mobility and Ola Electric Mobility, which initially had strong debuts, are now facing declines in their stock values.
Beijing State-Owned Assets Management plans to sell its entire 33 percent stake in UBS Securities for at least CNY1.5 billion (USD212.2 million). UBS, which increased its ownership to 67 percent in 2022, is in the process of acquiring full control. Additionally, BSAM recently became the largest shareholder in Credit Suisse Securities China after acquiring a significant stake, pending regulatory approval.
05:17 26.11.2024
Andhra Pradesh is reviewing the possibility of canceling a power supply contract with the Adani Group following allegations of bribery involving its founder, Gautam Adani. U.S. authorities have indicted him and others for allegedly paying $265 million in bribes to secure solar power contracts across several Indian states. The state government is examining files from the previous administration related to these allegations.
Vodafone Idea shares surged 15% on November 26 after reports indicated that the Union Cabinet approved a waiver of bank guarantees for telecom operators, particularly benefiting Vodafone Idea, which owes over Rs 24,700 crore. Despite today's gains, the stock remains nearly half its value from three months ago, trading at Rs 8 on the NSE. The waiver applies to spectrum acquired in auctions before 2022, aiming to alleviate the financial burden on the telecom sector, which collectively holds over Rs 30,000 crore in bank guarantees.
Nifty and Sensex continued their upward trend for the third consecutive day, buoyed by gains in IT, realty, and FMCG stocks. At 9:30 am, Sensex rose by 250.53 points to 80,360.38, while Nifty increased by 81.90 points to 24,303.80, reflecting positive sentiment following the NDA alliance's electoral success in Maharashtra. Analysts anticipate a focus on government spending as geopolitical risks remain a concern.
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