financial news
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Business
Swiggy IPO Opens Tomorrow: All You Need to Know About Investment, Price Band, and Listing Date
Swiggy, the food and grocery delivery giant, is set to open its IPO on November 6, 2024, closing on November 8. The public offering, valued at Rs 11,327.43 crore, consists of a fresh issue worth Rs 4,499 crore and an offer for sale (OFS) worth Rs 6,828.43 crore. Retail investors can enter at a price band of Rs 371-390 per…
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Business
Mid-Cap Funds Draw ₹14,756 Crore, Small-Cap Funds ₹15,586 Crore in FY25’s First Half
Mid-cap and small-cap mutual fund schemes have witnessed a significant surge in investor interest, with inflows reaching approximately Rs 30,350 crore from April to September of the current financial year, as reported by the Association of Mutual Funds in India (AMFI). In contrast, these funds attracted Rs 32,924 crore during the same period last year. This ongoing trend persists despite…
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Business
Gold Prices Surge Ahead of Festive Season, Silver Rates Stable
Bengaluru, October 27 — Over the weekend, gold prices in India have witnessed a notable increase, with rates rising by as much as ₹65 in certain areas. In contrast, silver prices have remained relatively stable. While international markets have shown minimal fluctuation in gold prices over the past couple of weeks, the Indian market is experiencing a significant uptick, likely…
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Business
Hyundai India Set Launch Historic $3.3 Billion IPO in Mumbai Today
Hyundai India is set to open the order books for its massive $3.3 billion initial public offering (IPO) in Mumbai, starting Monday, according to regulatory filings. This offering marks the largest IPO in Indian history and ranks as the second-largest globally in 2024. India’s capital markets continue to show remarkable momentum, with 260 companies raising over $9 billion so far…
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Business
India’s Largest Stock Offering of 2024: Hyundai Motor India to Launch $3 Billion IPO
Hyundai Motor India is set to launch its initial public offering (IPO) next week, with share prices expected to be priced between Rs 1,865 and Rs 1,960 ($22 to $23). This valuation could position the automaker at approximately $19 billion, marking it as the largest stock offering in the country this year. This IPO represents Hyundai’s first foray into public…
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Money
Gold Prices Rise in Response to Positive Global Cues and Rate Cuts
Gold prices in the domestic futures market increased on Monday, bolstered by positive global trends following a recent 50 basis points rate cut by the US Federal Reserve. Expectations of further rate cuts through 2026 are supporting gold’s appeal, as lower interest rates reduce yields on interest-bearing assets, making gold a more attractive option for investors. Spot gold prices remain…
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Business
Bajaj Housing Finance Launches Rs 6,560 Crore IPO, Opens for Subscription Today
The highly anticipated IPO of Bajaj Housing Finance, worth Rs 6,560 crore, opens for public subscription today, September 9, with investors eagerly awaiting strong listing gains, as indicated by the grey market premium (GMP). On Friday, September 6, the company raised Rs 1,758 crore from anchor investors. This follows similar recent public listings of housing finance companies like Aadhar Housing…
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Cyber Security-Cyber Crime
Bitcoin Breaks $50,000 Barrier on Anticipation of Interest Rate Cuts
Bitcoin surged past the $50,000 mark for the first time in over two years on Monday, propelled by investor optimism about potential interest rate cuts and the recent approval of U.S. exchange-traded funds (ETFs) tracking Bitcoin’s price. Currently trading at $50,196, Bitcoin has seen a 5.58% increase for the day and a 16.3% gain year-to-date. This milestone follows a failed…
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Money
Axis Mutual Fund Introduces Manufacturing Fund
Axis Mutual Fund unveiled its latest offering on Wednesday – the ‘Axis India Manufacturing Fund.’ Scheduled to kick off on December 1, 2023, and run until December 15, 2023, the open-ended equity scheme is set to be benchmarked against the Nifty India Manufacturing TRI. The fund’s primary objective is to achieve long-term capital appreciation by strategically investing in companies operating…
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World News
Charlie Munger, business ally of renowned U.S. investor Warren Buffett, dies
New York- USA: Charlie Munger, the longtime companion and business ally of renowned U.S. investor Warren Buffett, passed away on Tuesday at the age of 99, as confirmed by his employer. Berkshire Hathaway, where Munger held the position of vice chairman under Buffett for decades, released a statement stating they were informed by Munger’s family members of his peaceful demise…
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