Nazara Tech shares rose 9% after it acquired Freaks4U Gaming for Rs 2,710 crore.
Polycab falls 5% as promoters likely to sell 2% stake in block deal
Shares of Polycab India fell 5.3 per cent to Rs 6,616 on the BSE in intraday trade on Friday. The stock is trading close to its 52-week high of Rs 7,330, recorded on June 25, 2024. The company had hit a 52-week low of Rs 3,492 on July 7, 2023.
The recent fall in the share price follows a bulk deal on the National Stock Exchange (NSE) where around 3.37 million shares of the company, valued at Rs 2,265.44 crore, were traded at Rs 6,709.35 per share. read more
Bombay Burma shares rise 15% on higher trading volume, up 47% in June
Bombay Verma shares rose 15 per cent in intraday trade on Friday to hit a record high of Rs 2,168 on the BSE as buying interest over the counter revived after the Securities and Exchange Board tweaked holding company rules.
As of 11.30 am, Bombay Verma was trading 11.4 per cent higher at Rs 2,101 on the BSE with around 1 lakh shares changing hands against its two-week average volume of around 36,000 shares, while the S&P BSE Sensex was up 270 points or 0.3 per cent at Rs 79,500. read more
Asian stocks set for fifth straight month of gains as U.S. inflation slows
Asian shares were on track to extend their winning streak to a fifth straight month on Friday as slowing U.S. inflation strengthened expectations the Federal Reserve may cut interest rates this year, while the yen fell to a 38-year low against the dollar.
After a relatively calm week, Friday is packed with risk events for markets, with the Fed’s preferred inflation gauge, US Core Personal Consumption Expenditures (PCE) Price Index for May, coming into focus later in the day. read more
Vedanta shares rise 4% after raising Rs 2,500 crore through NCDs
In intraday trade on Friday, Vedanta shares were trading 3.6 per cent at Rs 458.75 on the BSE. The stock is trading close to its 52-week high of Rs 506, recorded on May 22, 2024. The company hit a 52-week low of Rs 207.85 on September 28, 2023.
However, the recent surge in the share price came after the company raised Rs 2,500 crore through an issue of non-convertible debentures of face value of Rs 100,000 crore on Thursday, the company said in a stock exchange filing. read more
Emcure Pharma aims to raise Rs 1,952 crore through the IPO, which will open for issue on July 3.
Emcure Pharmaceuticals has set a price band of Rs 960-1,008 per share for its initial public offering (IPO), for which subscriptions will open on July 3. The Pune-based company aims to raise up to Rs 19,520 crore through a fresh issue of 7.9 million shares (aggregate amount of Rs 8,000 crore) and an offer for sale (OFS) of 11.4 million shares (aggregate amount of Rs 11,520.3 crore).
The IPO, which will be open for applications till July 5, will be the fourth-largest IPO of 2024 after Bharti Hexacom (Rs 4,275 crore), Aadhaar Housing (Rs 3,000 crore) and GoDigit (Rs 2,614 crore). read more
Cinematography: Ajay Mohanty
