Markets

Pradeep Gaur/Mint
Pradeep Gaur/Mint

Sebi refuses any relief to lenders of Karvy

  • Sebi observed that all the pledged shares came from client accounts and the lenders did not exercise proper ‘due-diligence’
  • The market regulator also found the lenders lapsing as they merely relied on Karvy’s assertions that the pledged shares belonged to the broking firm

Sentiments also were boosted with Boris Johnson and his Conservative Party pulling off a big win in the UK general elections (Photo: Reuters)
US investors also missed out on a global rally fueled by a landslide victory for British Prime Minister Boris Johnson that paves the way for an orderly Brexit (Photo: AP)
US investors also missed out on a global rally fueled by a landslide victory for British Prime Minister Boris Johnson that paves the way for an orderly Brexit (Photo: AP)

Wall Street slips as investors look for concrete details on US-China trade deal

  • US to modify tariffs in a 'significant way'; China to buy substantially more US goods and services
  • All three major stock indexes hit fresh record highs earlier in the session, but turned lower after comments that a deal had not yet been formally signed

Marketed under brand names, Prince Piping Systems and Trubore, the pipes manufacturer runs six plants across India
Marketed under brand names, Prince Piping Systems and Trubore, the pipes manufacturer runs six plants across India

Prince Pipes to launch 500-crore IPO on 18 Dec

  • The offer with a price band of 177 to 178 per equity share will open on 18 Dec and close on 20 Dec
  • The company’s sales from operations for the year ended 31 March stood at about 1,572 crore, while its profit stood at 83 crore

Tata Motors and Motherson Sumi shares outperformed the benchmark Nifty auto in the last couple of weeks.
The 14 mainboard IPOs this year have risen by an average of more than 50% since listing, data compiled by Bloomberg show. (iStock)
The 14 mainboard IPOs this year have risen by an average of more than 50% since listing, data compiled by Bloomberg show. (iStock)

After 50% returns, 2020 may be even better for Indian IPOs

  • The S&P BSE IPO Index, a gauge of shares in their first two years of trading, has climbed 36% in 2019
  • The outperformance of recent debutantes is notable given the sluggish performance of smaller Indian shares in general

The US remains central to the Dr Reddy’s fortunes, at least in near term. (Photo: Mint)
JM Financial and Edelweiss Financial Services are the book running lead managers to the IPO and the equity shares will be listed on the NSE and BSE.
JM Financial and Edelweiss Financial Services are the book running lead managers to the IPO and the equity shares will be listed on the NSE and BSE.

Prince Pipes IPO to open next week, price band announced

  • Prince Pipes IPO will be open for subscription from December 18 to 20
  • The 500 crore IPO comprises 250 crore through fresh issue of shares and an equal amount through offer-for-sale

Indian airlines carried 12.95 million people in November, up 11.2% year-on-year. (Photo: iStock)
The US and China have been locked in a tariff war for about 18 months now.
Gold prices had touched a record high of  ₹39,885 per 10 grams in early September. (Mint)
The rupee traded at 70.65, up 0.27% from its previous close of 70.84 a dollar. (Photo: Bloomberg)
In the metal pack, Vedanta Ltd, Hindalco Industries Ltd, SAIL, Tata Steel, JSW Steel NALCO were up 1-4%. (Mint)
In just the two months of September and October this year, nearly 40% more gold was seized than the same period in 2018.
In just the two months of September and October this year, nearly 40% more gold was seized than the same period in 2018.

Gold smuggling on the rise as high prices boost appeal in India

  • Gold in India touched a record high of 39,885 per 10 grams in early September
  • There has been a jump in the smuggling of gold into India from China, Taiwanand Hong Kong, the DRI said

India’s industrial output shrank while inflation swelled. Photo: Hemant Mishra/Mint
India’s industrial output shrank while inflation swelled. Photo: Hemant Mishra/Mint

Stock markets may rise on firm Asian cues, weak macros to weigh

  • Asian share markets jumped as a last-gasp Sino-US trade deal and a likely major election win by Britain's Conservative Party
  • Maruti Suzuki India Ltd has raised its vehicle production target for this fiscal in the first sign that India’s largest carmaker is seeing green shoots of a recovery in the troubled auto sector

The Schall Law Firm, a shareholder rights litigation firm based in Los Angeles has announced the filing of a class action lawsuit against Infosys Limited. Photo: Mint
A delayed monsoon and erratic spatial distribution had impacted the kharif or summer crop after a gloomy 4-5% decline in rabi crop acreage in FY19. (HT)
A delayed monsoon and erratic spatial distribution had impacted the kharif or summer crop after a gloomy 4-5% decline in rabi crop acreage in FY19. (HT)

Improved rabi crop outlook raises hopes for tractor manufacturers

  • Disparity in sales decline may be due to the different inventory holding strategies
  • The 7-9% FY20 sales decline estimated for tractors is better than earlier forecasts of a double-digit drop

Graphic by Naveen Kumar Saini/Mint
New clients constitute 35% of the deal pipeline, up from 19% last year.
Graphic by Naveen Kuamr Saini/Mint