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The Indian stock market will remain open on August 28, despite Raksha Bandhan celebrations in several parts of the country. Both the NSE and BSE will operate as usual, as August 28 is not listed as a trading holiday in the 2026 exchange holiday calendars. Trading will continue across the Equity, Equity Derivatives, Currency Derivatives,…
Mumbai: IndiaFirst Life Insurance plans to raise ₹150-250 crore through subordinated debt in the fourth quarter, as the company looks to strengthen its capital base, managing director and chief executive Rushabh Gandhi said. The proposed fundraise will come as the insurer’s existing subordinated debt of about ₹125 crore falls due for repayment in the fourth…
ET Intelligence Group: ESDS Software Solutions, a data centre and managed services provider, plans to raise ₹720 crore through a fresh equity issue to fund facilities expansion. The promoter group’s stake will fall to 39.5% after the IPO from 46%. The Company offers infrastructure-as-a-service (IaaS), managed services and software-as-a-service (SaaS), to domestic and overseas customers…
ET Intelligence Group: The stock of Persistent Systems has gained 31% from the 52-week low at the end of June after the mid-tier IT exporter announced the $1.4 billion acquisition of Germany based Nagarro. The BSE Infotech index has gained 10% during the period. The rebound in Persistent’s stock can be attributed to Persistent’s sustained…
Mumbai: Foreign portfolio investors (FIIs) moderately stepped up purchases of Indian equities in August after turning buyers in July following four months of selling, while domestic institutional investors (DIIs) continued to buy, though at a slower pace. FPIs recorded net purchases of around $2.45 billion in July and $2.7 billion in August so far. DIIs…
Mumbai: An unusual spike in Bankex options marked Thursday’s expiry of BSE derivatives contracts, sending traders scrambling during the newly introduced Closing Auction Session (CAS). Most notably, the Bankex 65,000 Put expiring on Thursday surged from ₹6.65 to ₹987, a jump of nearly 14,700% within minutes. The move came as indicative closing levels during the…
Mumbai: Gold and silver exchange-traded funds (ETFs) fell as much as 2% on Thursday even as global precious metal prices remained largely steady, as investors priced in a possible cut in import duties by the government that would lower domestic gold and silver prices. Gold ETFs fell between 1.3% and 2.3% at Thursday’s close, while…
With nearly a fifth of the outstanding market share in bank credit, State Bank of India (SBI) knows better than anyone what’s cooking in the economy. Its chairman CS Setty, who completed two years, discusses with ET on a range of issues that include growth, global disruption, and new challenges. Edited excerpts. The growth numbers…
Mumbai: The Securities and Exchange Board of India is close to approving the initial public offering (IPO) of the National Stock Exchange (NSE), the regulator’s chairman Tuhin Kanta Pandey said Thursday. The share sale is likely to be the largest in the country to date. NSE’s valuation in the unlisted market is around ₹5 lakh…
Mumbai: BofA Securities initiated coverage on Polycab India and KEI Industries with Buy ratings, betting that strong demand for wires and cables and the companies’ competitive positions will help them sustain faster growth despite rising competition. The brokerage set a price target of ₹11,000 for Polycab, implying 22% upside, and ₹6,300 for KEI, suggesting 14%…