Markets

Government to get ₹1,544 crore from IRFC IPO

• The IPO of IRFC closed on Wednesday with an enthusiastic response from investors in all the categories, it said.

US stocks rise to record on hope for new aid bill

• The Nasdaq 100 Index jumped more than 2% and the S&P 500 Index rose to an all-time high
• Joe Biden took the oath of office to become US president on Wednesday and he has a flurry of executive actions at the ready

IRFC IPO subscribed 3.49 times on final day

The initial public offering (IPO) of state-owned Indian Railway Finance Corp

The fear of flying at Mount 50K

• Flush with liquidity, the stock markets are at a dreamlike high. But the worries are also mounting
• Many feel the gains have come too fast. With scores of new investors entering the bull market late, and with the cream of the rally behind, further gains are not going to be easy

Bajaj Finance sharpens focus on payments; Q3 shows rise in stress

• On an assets under management basis, consumer and home loans were back to pre-covid levels
• Including interest forgone, the lender’s write-off amounted to ₹2,335 cr in the December quarter

Bitcoin slides below $35,000 as crypto mania loses momentum

The Bitcoin fever is starting to break as worries about a market bubble discourages investors from buying in

Firm metal prices, rising volumes, cost controls lift Hindustan Zinc's Q3 show

• Cost of production for zinc has stayed below $1,000 a tonne over the past three quarters. In Q3, this was at $946 a tonne, down 12% YoY. No surprise that operating profits jumped 46%, aiding the growth in net profit, which rose 36% YoY

Gold loans power up Federal Bank’s Q3, but stress seems under control

• The private sector lender showed the benefits of a recovering economy and a bounce-back in retail loans. The management said it is seeing growth across categories and loan growth for the full year could reach 8-10%

When investors forget fundamentals, the market is broken

Best explanation for how stocks have moved so far this year is the raw price of the stock, an almost meaningless number

Sensex makes another dash towards 50,000 with 1,200-point rally in 2 days

• Reliance Industries and Infosys led the gains today
• At day's high, Sensex was just 125 points away from 50,000 mark

Ethereum's new target by Fundstrat Global is seven times of current levels

Ether, the second-largest cryptocurrency, could climb more than sevenfold to $10,500 after reaching a record this week, according to Fundstrat Global Advisors

Tata Communications slumps 8% as government plans to exit the company

• Tata Communications reported a four-fold jump in consolidated net profit to ₹309.15 crore for the quarter ended 31 December against ₹58.54 crore for the same quarter last year.

Subdued Q3 earnings, government stake sale weigh on Tata Communications stock

• Consolidated revenues in Q3FY31 fell 4.1% sequentially to Rs4,220 crore on the back of poor performance of voice and data segments. Analysts attribute the decline in revenues to seasonality and impact of covid-19 on deal conversion

Why investors are snapping up hydrogen stocks

Share prices of companies in the industry have soared more than 500% in the past year, driven by the rising adoption of zero-emission vehicles, a deadline set by many countries to go carbon-free by 2050 and lately US President-elect Joe Biden's support for clean energy

Bank of America sees limited upside in Indian markets this year

Bofa Securities said it is 'not as bullish' and gave a target of 15,000 points for the 50-share benchmark Nifty by the end of the newly started year

Indigo Paints IPO fully subscribed in just few hours: 10 things to know

• The price band of IndiGo Paints issue has been fixed at ₹1,488-1,490 a share
• The issue will conclude on January 22

Ceat shares jump over 6% after strong quarterly earnings

• The stock gained 6.35% to Rs1,352.40 -- its one-year high -- on the BSE
• At the NSE, it jumped 6.23% to Rs1,353 -- its one-year high

Moderation in US sales drags shares of Alembic Pharma

The firm’s US pipeline remains strong, but the pricing pressure on Sartans has led to the pressure in US sales

IRFC IPO update: Subscribed over 3 times so far on final day

• IRFC is offering up to 178.2 crore shares at a price band of ₹25 to ₹26
• The lot size if 475

L&T Infotech, the most expensive IT stock, needs greater growth impetus

Adjusted for unusually high growth in the Indian business, the rest of LTI’s business grew 3.5% sequentially