Top Market Highlights Of The Day – Dec 1st 2021

Copy of top 5 template 6 1 1024x1024 Top Market Highlights Of The Day – Dec 1st 2021

Tega Industries IPO is opening for subscription today.

Tega Industries IPO is opening for subscription today. The Indian markets are expected to react to GDP numbers. Also, auto companies are likely to be in focus as they will release November sales data. Meanwhile, Asian stocks were mixed Wednesday as traders weighed Federal Reserve Chair Jerome Powell’s comments that officials should consider a faster removal of monetary stimulus amid high inflation. On Monday, the Indian share markets traded on a volatile note with the BSE Sensex down 195 points, while the Nifty dipped 70 points.

After SC ruling , Yes bank can join AGM of Dish tv

The Supreme Court on Tuesday overturned an Allahabad HC order that upheld directions by UP’s Gautam Buddh Nagar crime branch directing a freeze on Yes Bank NSE 2.06 %’s stake in Dish TV NSE 1.49 % India, thereby preventing them from exercising transaction and voting rights as a shareholder.

Axis Bank got some relief as the SAT quashed

Axis Bank got some relief as the SAT quashed a directive issued by NSE stating that funds lying in the bank account of Karvy Stock Broking belonged to NSE defaulter committee. Axis Bank had challenged the NSE order at the Securities Appellate Tribunal (SAT) in Dec-20. Karvy had been expelled from membership of both the stock exchanges for illegally pledging shares belonging to clients. Axis Bank had challenged the NSE order on the grounds that NSE had no powers to freeze any account where the bank had a lien.

Anand Rathi Wealth announced the launch of its IPO

The spate of IPOs continues as wealth management solutions provider, Anand Rathi Wealth, announced the launch of its IPO. The IPO will open on 02-Dec and close on 06-Dec with the price being fixed in the band of Rs.530-550. The IPO is entirely an offer for sale by the promoters and other early investors offering 1.20 crore shares in total as part of the OFS. The issue is worth Rs.660 crore and values Anand Rathi Wealth at around Rs.2,989 crore market cap. Investors can bid for minimum 27 shares with retail limit of 13 lots.

Snapdeal, does not really want to miss the IPO fever

Ecommerce start-up, Snapdeal, does not really want to miss the IPO fever as it plans to file for a Rs.2,000 crore IPO in December this year. This will be a combination of primary fund raising and an offer for sale. Over the last few years, Snapdeal lost out in the ecommerce race to the likes of Flipkart and Amazon, so this will be something like a comeback for them. Snapdeal could seek a valuation of $2 billion in the IPO. Snapdeal boasts of investors like Softbank, Temasek, BlackRock and eBay with Softbank holding 35.67%.

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