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Just In
- The S&P BSE Sensex index added 886.51 points or 1.56 per cent to 57,633.65.
- The Nifty 50 added 264.45 points or 1.56 per cent to 17,176.70.
- The Nifty Bank closed with a gain of 882.50 points or 2.47 per cent at 36,618.40.
Domestic equity markets witnessed a rebound on Tuesday, December 7, 2021, amid positive cues from the global equity markets. Buying was witnessed in metals, banking and auto stocks ahead of the RBI meeting on interest rates.
The S&P BSE Sensex index added 886.51 points or 1.56 per cent to 57,633.65. The Nifty 50 added 264.45 points or 1.56 per cent to 17,176.70. The Nifty Bank closed with a gain of 882.50 points or 2.47 per cent at 36,618.40.
In the broader markets, the S&P BSE MidCap and S&P BSE SmallCap surged 1.29 per cent and 1.14 per cent, respectively.
The market breadth was strong. On the BSE, 2331 shares rose and 946 shares fell. On the Nifty 50 index at the NSE, 45 shares advanced and 5 shares declined. The top five gainers on Nifty were Hindalco (up 5.15 per cent), Tata Steel (up 3.97 per cent), Axis Bank (up 3.59 per cent), ICICI Bank (up 3.47 per cent) and Tata Motors (up 3.23 per cent). The top five losers were Britannia (down 0.58 per cent), Cipla (down 0.56 per cent), Divi's Laboratories (down 0.36 per cent), Asian Paints (down 0.21 per cent) and IOC (down 0.12 per cent).
IPO Update
The initial public offering of RateGain Travel Technologies Limited, Noida-based distribution technology and Software-as-a-Service (SaaS) company, was subscribed 0.23 times by 5 pm at BSE today, the first day for bidding for the public issue. The Non-Institutional Investors (NII) and Retail Individual Investors (RIIs) portions were subscribed 0.03 times and 1.23 times respectively. The portion reserved for employees was subscribed 0.29 times. The three-day issue will conclude on Thursday, December 9, 2021.
The SaaS company has fixed a price band of Rs 405-425 per equity share. At the upper end of the price band, the initial share sale is expected to fetch Rs 1,335.73 crore. The retail investors can place a bid for a lot of 35 Equity Shares and in multiples thereof.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 375 crore and an offer-for-sale (OFS) of up to 2.26 crore equity shares by promoters and existing shareholders.
Economy
Prime Minister Narendra Modi inaugurated several development projects worth 10,000 crore rupees in Gorakhpur, Uttar Pradesh today. These projects include the Fertiliser Plant, AIIMS and a new building of the regional centre of Indian Council of Medical Research-ICMR.
The Prime Minister in his address said, he is grateful to inaugurate the projects whose foundation stone was laid by him five years back.
Mr. Modi said today's programme is a testimony of the fact that nothing is impossible for New India.
Indian economy is showing strong signs of recovery. 19 out of 22 economic indicators have registered an increase compared to the situation before the Corona pandemic.
High-Frequency Indicators (HFIs) are being monitored to track the progress of economic recovery in India since the outbreak of the pandemic in the country. As per the latest information, full recovery has been achieved in respect of 19 FPIs, out of 22 HFIs. The latest levels in the last three months are higher than their pre-pandemic levels in the corresponding months of 2019.
Among the 19 FPIs, there are several indicators whose recovery is way beyond 100 per cent, such as E-Way bills by volume, merchandize exports, coal production, rail freight traffic, fertilizers sales, PMI services, power consumption, tractors sales, cement production, port cargo traffic, fuel consumption, air cargo traffic. A maximum recovery of 367 per cent has been witnessed in the volume of UPI. The data suggests that not only the recovery is complete, but the economic growth is also now gathering momentum over the pre-pandemic levels of output. This is further confirmed by the estimates of GDP recently released for Q2 of 2021-22, whose Year-on-Year growth in real terms at 8.4 per cent takes the output level higher than the pre-pandemic level of Q2 output in 2019-20.
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