Author: Tanya Mishra

Renewable energy transition company NTPC Green Energy shares had a muted debut on the stock exchanges on Wednesday, November 27. The shares opened at Rs 111.5 on the National Stock Exchange (NSE), with a modest premium of 3.2% over the issue price of Rs 108. On the Bombay Stock Exchange (BSE), the stock listed at Rs 111.60, which was a 3.33% increase from the IPO price. The IPO price range had set at Rs 102-108 per share while investors were required to bid for a minimum of 138 shares. The IPO consisted of a fresh issue of 92.59 crore equity…

Ports-to-energy conglomerate Adani Group, on Wednesday, has responded strongly to bribery accusations made by US authorities against its billionaire chairman, Gautam Adani, his nephew, Sagar Adani, and senior executive, Vneet Jaain. The US Department of Justice (DOJ) had accused the executives in a bribery case. The DOJ claimed that executives were involved in a scheme to bribe Indian officials with $265 million in exchange for securing solar electricity contracts that could have led to $2 billion in profits over 20 years. Adani Group’s energy arm Adani Green Energy Ltd said in a statement issued on Wednesday that the executives had…

The Indian Premier League (IPL) 2025 mega auction concluded in Jeddah, Saudi Arabia, on November 24-25. With a total of 577 players in contention to secure a spot in any of the ten franchises, it has been two days of pure excitement. However, there were many firsts in this mega auction. For instance, the auction saw a historic signing as Rishabh Pant became the most expensive player ever. He was bought by Lucknow Super Giants for Rs 27 crore. On the other hand, Yuzvendra Chahal became the most expensive spinner in the history of IPL after he was purchased by…

While 2024 is shaping up to be a record-breaking year for IPO fundraising, the post-listing performance of many companies has been less than stellar. Data compiled by online publication platform MoneyControl shows that around 40% of firms that debuted on the stock exchanges this year are currently trading below their issue prices, with market corrections since October eroding initial gains. More than 75 companies have collectively raised over Rs 1.2 lakh crore through IPOs this year. However, market volatility has taken a toll, even on those who made strong listing-day debuts. In the Freefall after Stellar Debut To begin with,…

Telecom stocks surged on Tuesday after media reports suggested the government had approved a proposal to waive bank guarantees (BGs) for spectrum purchases made before 2022. The move will provide financial relief to telecom operators, who collectively owe over Rs 30,000 crore in guarantees to the government, and the biggest beneficiary of this move is likely to be Vodafone Idea Ltd, which owes over Rs 20,000 crore in bank gurantees. Following the news, Vodafone Idea shares surged 15% to hit the upper circuit limit of Rs 8.02 during the session on Tuesday before falling slightly to trade at around Rs…

Zomato Shares jumped 7% in early trade on Monday following its inclusion in the Sensex and shareholder approval for a Rs 8,500 crore fundraising via a Qualified Institutional Placement (QIP). The stock touched an intraday high of Rs 284.30 on the BSE, up from its previous close of Rs 264.15. The stock, however, gave up nearly half of its gain to close the day with a rise of 3.58% to Rs 273.6. Zomato shares, already up 125% this year, are now trading close to their 52-week high of ₹298.20 reached in September. Monday’s rally in Zomato’s stock price pushed the…

The initial public offering (IPO) of Rajesh Power Services Ltd (RPSL), which offers power infrastructure solutions and a range of services from design to maintenance, has opened for subscription on November 25 and will close on November 27. The allotment of IPO shares is scheduled for November 28. The company, which operates as an engineering, procurement, and construction (EPC) contractor and provides services to both the renewable and non-renewable power sectors, will likely debut on the stock exchange on December 2. The company specializes in turnkey projects for laying extra high voltage (EHV) cables and transmission lines, setting up EHV…

NTPC shares, India’s largest power producer, which operates under the Ministry of Power as a Maharatna Public Sector Undertaking (PSU), climbed 3% to Rs 377 in morning trade on Monday, November 25. As of 9:30 am on November 25, NTPC shares were trading at Rs 373 on the NSE, up 2.5% from the previous close. To be sure, the stock extended gains for the second straight session after international brokerage Bernstein reaffirmed its outperform rating on the stock and raised its target price for the share. Bernstein now pegs the stock’s target price at Rs 440 with an implied 20.5%…

Shares of Protean eGov Technologies fell sharply by up to 9% during early trading hours on November 22, following the National Stock Exchange’s (NSE) announcement to divest its stake in the company through an offer for sale (OFS). Details of the Stake Sale The OFS will see NSE Investments, a wholly-owned subsidiary of NSE, sell up to 20.32% equity stake in Protean. This includes a base issue of 10.16% equity, with an additional green shoe option for another 10.16%. The floor price for the OFS has been set at Rs 1,550 per share. The OFS opens on November 22 for…

The Enviro Infra Engineers Limited IPO (initial public offering) opened for public subscription on November 22 and will remain available until November 26, 2024. The company, specializing in wastewater management, aims to raise Rs 650.43 crore through the issue. Price Band and Issue Size The price band for the IPO has been set at Rs 140 to Rs 148 per equity share. The public issue includes a mix of fresh share issuance and an Offer for Sale (OFS). Out of the total Rs 650.43 crore, Rs 572.46 crore is expected to be raised through fresh shares, while Rs 77.97 crore…