Business
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Demat account additions hit 7-month high in August as IPO boom draws investors
August witnessed a surge in new demat accounts, reaching a seven-month peak due to strong initial public offering activity that spurred many newcomers to the markets. Collectively, NSDL and CDSL welcomed around 3.27 million new accounts, even as benchmark stock indices faced a minor dip. Analysts are optimistic about continued growth, especially with major upcoming IPOs from Jio and NSE on the horizon.
Stocks in news: Tata Motors, RVNL, Eicher Motors, Mazagon Dock and Lupin
Indian equity markets experienced volatility, with the Nifty 50 extending its losing streak for four weeks. Escalating US-Iran hostilities pushed crude oil prices higher, impacting overall market sentiment. Several companies, including Tata Motors and Rail Vikas Nigam, are expected to be active on Monday. Mazagon Dock Shipbuilders and Eicher Motors also reported significant corporate developments. Lupin received US FDA approval, while JSW Steel saw production increases in August.
IPO rush continues: 16 issues to raise over Rs 7,000 crore this week
India's primary market is gearing up for an exciting week, with 16 companies ready to launch their IPOs. Aiming to gather over 7,000 crore rupees, this includes 12 mainboard and 4 SME offerings. Following a strong August performance, confidence remains high within the IPO sector, with businesses eager to harness the prevailing positive momentum.
Pre-market action: Here's the trade setup for today's session
The Indian equity market ended the week on a positive note, with the Nifty increasing by 0.1 percent on Friday. Factors such as global market trends and easing fears of US interest rate hikes lent support to this rise. The India VIX, often seen as a fear gauge, declined by 5.8 percent, signaling lower market worries.
NSE IPO set to deliver massive gains to state-run insurance firms
General Insurance Corp, National Insurance, New India, Oriental Insurance and United India were among the earliest investors in the exchange, which opened in 1994 and is India's biggest by trading volume. The proposed IPO, expected later this month, is entirely an offer for sale of up to 148.91 million shares, which would mean that NSE itself will not receive proceeds from the issue.
Drafting slips sending arbitration to winding, pricier detours
The contract fineprint is becoming a costly hurdle in arbitration. Vague clauses over seat, venue and jurisdiction can send companies to court before the actual dispute is heard, stretching timelines and adding as much as 20% to costs.
Lululemon founder Chip Wilson’s $6.1 billion net worth under spotlight amid divorce, company struggles
Wilson built a multibillion-dollar fortune by creating Lululemon. Now, his personal wealth is under spotlight due to a high-profile divorce and at the same time the company he founded is fighting to regain its momentum.
AIFs seek status quo as 'foreign control' rules go for a recast
Local alternative investment funds have warned regulators about proposed changes. These changes could significantly impact capital inflows into India's economy. The draft rules aim to curb indirect foreign ownership in sensitive sectors. Industry officials requested the status quo on existing regulatory definitions. This move seeks to maintain India's attractiveness for foreign investment.
RBI's liquidity test may set future course
The Reserve Bank of India is currently grappling with a notable liquidity dilemma due to a surge in FCNR(B) scheme inflows. To navigate this, a pivotal variable rate reverse repo auction is set to influence the liquidity management strategy. The central bank may also utilize measures such as dollar swaps and bond sales.
US trade war: What if Russian oil is excluded from markets? Envoy Alipov warns ‘world will not cope'
Russian Ambassador Denis Alipov stated that the global energy market would struggle without Russian oil and emphasised Russia's readiness to meet India's oil needs amidst sanctions. He criticised pressure tactics from other countries that hinder better deals for India.
Who is Arthur Lundeen? Man duct-taped to seat mid-flight after hurling racist, anti-LGBTQ slurs
Arthur Lundeen was arrested after American Airlines Flight 618, travelling from Dallas-Fort Worth International Airport in Texas to Newark Liberty International Airport in New Jersey, was diverted to Baltimore following a disturbance involving the passenger.
'From Iran war to bond yields': 'Dr. Doom' Nouriel Roubini flags 4 risks looming over US economy
Economist Nouriel Roubini, known as Dr. Doom, has flagged four risks to the US economy, including the Iran war, higher bond yields and a potential market correction. Despite these concerns, he remains optimistic about the AI-led investment boom.
AfD projected to score historic victory in German state election, but path to power remains unclear
The Saxony-Anhalt election represents a major breakthrough for AfD and a significant setback for Chancellor Friedrich Merz's CDU. With approximately 44% of the vote, AfD has demonstrated that it has become a dominant political force in the eastern German state.
India’s hydrogen train may soon race at 110 kmph; Railways explores new routes
The Railways are also consulting various stakeholders to determine the routes on which the hydrogen-powered train could be operated. Technical requirements and arrangements for ensuring a steady supply of hydrogen fuel are also being assessed.
'Unpredictable airfares, airline charges': Supreme Court to hear plea seeking tighter rules on Monday
The Supreme Court will hear a plea seeking rules to curb unpredictable airfares and airline charges. The Centre has fast-tracked rules under the Bharatiya Vayuyan Adhiniyam, 2024, after the court flagged steep fare hikes during festivals.
ISRO’s role ‘by no means diminishing’: Space agency, Pawan Goenka address staff’s privatisation concerns
IN-SPACe chief Pawan Goenka says ISRO’s role is not diminishing as reforms expand India’s space ecosystem, with private firms scaling up while the agency focuses on advanced research and new technologies.
Trump administration plans child-care subsidies for stay-at-home parents: Report
The proposal, backed by Vice President JD Vance, would expand the use of federal child-care funds to families where one parent stays home to care for the couple's children while the other works.
'My life is a lie': Old Monk isn't 'rum'? Why FSSAI's claim has left drinkers stunned
FSSAI told the Bombay HC that Old Monk cannot be sold as rum as it is made using neutral spirit and rum flavouring. The regulator said it can instead be called a rum-flavoured spirit, leaving generations of Old Monk drinkers questioning everything.
