Money Matters | Nitesh Estates sharesfall 5.65% on BSE debut

Money Matters | Nitesh Estates sharesfall 5.65% on BSE debut

Mumbai: Shares of Nitesh Estates Ltd on Thursday closed 5.65% below their initial public offer (IPO) price of Rs54 on the first day of listing on the Bombay Stock Exchange (BSE).

The stock closed at Rs50.95 after opening at Rs50 and reaching a high and low of Rs55 and Rs48.05, respectively, in intra-day trading. The Sensex closed 0.41% higher at 17,265.87 points.

On the National Stock Exchange, the firm’s shares closed at Rs51.20. The shares opened at a low of Rs.48.4 and hit a high of Rs58 during the day’s trade.

Ashwin Ramarathinam


BSE, NSE to stay open for Akshaya Tritiya

Mumbai: Emulating jewellers and retail chains, which promote the sales of gold jewellery on Akshaya Tritiya, the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will stay open on Sunday to allow investors to buy units of gold exchange traded funds (ETFs).

Both exchanges will stay open from 9am to 3.30pm that day for a special trading session in gold ETFs.

N. Sundaresha Subramanian


Magma raises Rs122 cr through share sale

Kolkata: Non-banking finance company Magma Fincorp Ltd on Thursday said it had sold four million shares to institutional investors for Rs301 each, raising Rs122.4 crore.

Magma, which has assets under management of Rs9,390 crore, would be using the money to expand its business across India, vice-chairman and managing director Sanjay Chamria said in a statement.

Staff Writer