India GDP Growth for OCt-Dec quarter for F.Y. 2024

India’s GDP numbers surpassed the Economist Expectation: GDP Growth at 8.4 % in October -December quarter of FY 2023-24

February 29, 2024
India's GDP has grown 8.4% in third quarter i.e. October-December 2023, due to high growth in construction, manufacturing sector. The GDP data has surpassed the economists expectation who were expecting the GDP to contract from previous quarter due to nominal decline in government spending,slow growth in industrial output and inadequate monsoon. This was also due to the fact that Government spending contracted 3.2 per cent during October-December quarter and the private consumption increaded by 3.5 per cent. This GDP growth will strengthen India's position as a fast growing economy. A double digit growth rate in manufacturing sector, along with boost in construction sector with 9.5 per cent growth has contributed largely towards the overall GDP growth and in strengthening the economy. The growth in construction sector signifies increasing demand for commerical and residential spaces.Inspite of the global economic landscape appearing volatile and shaky, Indian economy continues to remain strong and showcase a robust economic growth. India continues to hold the tag of the world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6 per cent in December quarter on booster shots from government manufacturing and spending.
Top 10 stocks to watch today - 28 February 2024

February 28, 2024
Vodafone-Idea: Cash-strapped private telecom operator, Vodafone-Idea, on Tuesday saw its board approve a ₹45,000-crore fund raising initiative—including a ₹20,000 crore equity-based fund raise from existing investors. A shareholder meet for…

Exicom Tele-Systems IPO fully subscribed within hours of opening

February 27, 2024
Exicom Tele-Systems IPO was subscribed 10.2 times on the first day of issue and was fully subscribed within hours of opening. Exicom was open for subscription from 27 February 2024 and will continue to remain open till 29 February 2024. Exicom a EV charging company will be raising ₹429 crore from this public offer.. The public issue received bids for 18,26,60,500 equity shares as against 1,82,23,540 shares on the offer, surpassing the expected response on day one. The equity shares of Exicom Tele Systems are trading at ₹312 (including premium) apiece in the grey market as against the issue price of ₹142.
Top 10 Stcks for today 27 February 2024

Top 10 Stocks to watch for today – 27 February 2024

February 27, 2024
Wipro: The IT services company and Nokia Corporation have jointly launched a private 5G wireless solution to help enterprises in their digital transformation. Titan: The company's ethnic wear chain Taneira, which was originally launched as a saree brand in 2017, is broadening its product range to include casual lehengas and low-priced kurtas Bandhan Financial Holdings, the promoter of Bandhan Bank, has completed the acquisition of digital life insurance company from Aegon India Holding
Top 10 stocks to watch today - 26 Feb 2024

Top 10 Stock News for Today – 26 February 2024.

February 26, 2024
Reliance Industries: Walt Disney and Reliance Industries have signed a binding agreement to merge their media operations in India, a Bloomberg report quoted people familiar with the matter. The report said billionare Mukesh Ambani-led Reliance Industries is expected to own a 61% stake in the merged entity as Disney reassesses its strategy in India amid intense competition. HDFC Bank: The bank said that it has received approval from the Reserve Bank of India (RBI) to offload 90 percent of HDFC Credila’s total issued and paid-up share capital, in an exchange filing. On June 20 last year, HDFC Ltd (now merged with HDFC Bank) had disclosed to the exchanges that it had entered into definitive agreements for the potential sale of a 90 percent share in HDFC Credila to a consortium of private equity firms for approximately ₹9,060 crore. Canara Bank: The public sector bank's board of directors is going to consider a stock split in its meeting scheduled on Monday, 26th February 2024. If approved, this would be the second big corporate event taking place at the PSU bank after a gap of nearly seven years. Canara Bank board had declared Rights Issue on 20th February 2017 and the size of the rights issue was ₹1,124 crore.
A multi-bagger IPO of 2024 gets over-subscription on opening day - Exicom Tele Systems IPO.

Will this multi-bagger IPO of 2024 gets over-subscription on opening day? – Exicom Tele Systems IPO.

February 25, 2024
Exicom Tele-Systems IPO is a India based power management solution provider incorpoated in 1994, operating in designing, manufacturing and servicing of DC Power Systems,digital communcation networks and electric vehicle supply equipment especially EV Charging equipments.Exicom Tele-Systems is the pioneer in the EV service market. The IPO of Exicom Tele-Systems will open for subscription on 27 February, 2024 with a price band of ₹135 to ₹142 per equity share. The IPO subscription will end on 29th February 2024. Exicom Tele-Systems IPO will be raising 429 crore from this public issue out of which ₹329 crore is aimed through the issuance of fresh issues. Around ₹100 crore is reserved for Offer for Sale. One lot will comprise of 100 shares and the allotment of shares will be done by 1st March 2024. The initiation of refund will happen on 4th March, 2024 and credit of shares in Demat will happen on 4th March, 2024. The market capitalization of Exicom Tele-Systems is ₹ 1715.71 Cr with an ROE of 13.38% and ROCE of 10.92%. 75% of the net issue is open for QIB Investors, 15% for HNI's and 10% to Retails Investors. In the grey market, this share of Exicom are available at premium of ₹128 per share. Link Intime India Limited will be the official registrar of the book building issue.The final listing of Exicom Tele-Systems is expected on 5th March 2024.