News

Promoters will reduced their stake by selling shares through an offer for sale and intend to use the IPO proceeds towards repayment of outstanding bonds issued by Express Infra Projects

SBI, LIC, Punjab National Bank and Bank of Baroda each hold 18.5 percent stake in the UTI AMC. The remaining stake is held by US company T Rowe Price.

Hem Securities has come out with its report on Prince Pipes and Fittings. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on December 17, 2019

Geojit has come out with its report on Prince Pipes and Fittings. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on December 17, 2019

Choice Equity Broking has come out with its report on Prince Pipes and Fittings. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on December 18, 2019

Anand Rathi has come out with its report on Prince Pipes and Fittings. The research firm has recommended to "Subscribe#39;#39; the IPO in its research report as on December 17, 2019

Choice Broking feels on valuation front, based on the higher price band, Prince Pipes is demanding a P/E multiple of 23.5x (to its restated FY19 EPS of Rs 7.6), which is at a marginal discount to peer average of 25.7x.

The business channel learnt from sources that SBI, LIC and BoB may sell maximum 1.05 crore shares each while Punjab National Bank and T Rowe Price may sold 38 lakh shares each through the issue.

Sources told Moneycontrol that the company aims to raise around Rs 700 crore through the share sale.

The leading polymer pipes and fittings manufacturer has already garnered Rs 150 crore from anchor investors on December 17, ahead of its initial public offering.

SBI Oman, Aditya Birla MF, SBI Life Insurance, HDFC Life Insurance etc participated in the anchor investor bidding.

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The issue consists of fresh issue of Rs 250 crore and offer for sale of Rs 250 crore.

The IPO comprises a fresh issue aggregating up to Rs 550 crore and an offer for sale of up to 8 crore equity shares by Equitas Holdings.

The company, after consultation with merchant bankers, decided a minimum bid lot of 84 equity shares and in multiples of 84 shares thereafter.

Experts are of the view that the December quarter earnings and Budget are the main triggers that will steer the mood of the market in the near-term.

The Nifty Midcap Index gains for the 8th straight day to post the longest gaining streak in 18 months.

The broader market outperformed as the SP BSE Small-cap index rose over 1 percent while the SP BSE Mid-cap index closed with gains of 0.6 percent.

Amongst the broader markets, BSE Midcap and Smallcap continued to outperform and ended with gains of 0.7-0.8%.

The broader market outperformed as the SP BSE Smallcap index gained 0.95 percent while the SP BSE Midcap index closed with gains of 0.87 percent higher.

If the correction in the next couple of days drags down the index into the bullish gap zone of 12132 –12044 levels then that shall be considered as an opportunity to create fresh longs.

The rally was broad-based as the BSE Midcap (up 1.51 percent) and Smallcap (up 1.55 percent) indices rose in sync with the benchmarks.

In the near term, markets may continue to remain volatile owing to US-Iran tensions.

Experts suggest a sell-on-the-rise strategy, as the upside seems capped with stability in crude prices and currency providing temporary relief to investors.

The market capitalisation of BSE-listed companies stood at Rs 153.86 lakh crore, down nearly Rs 3 lakh crore from Friday’s close of Rs 156.87 lakh crore, data showed.

The market capitalisation of BSE-listed companies stood at Rs 153.86 lakh crore, down nearly Rs 3 lakh crore from Friday’s close of Rs 156.87 lakh crore, data showed.

The market capitalisation of BSE-listed companies stood at Rs 153.86 lakh crore, down nearly Rs 3 lakh crore from Friday’s close of Rs 156.87 lakh crore, data showed.

The market capitalisation of BSE-listed companies stood at Rs 153.86 lakh crore, down nearly Rs 3 lakh crore from Friday’s close of Rs 156.87 lakh crore, data showed.

The market capitalisation of BSE-listed companies stood at Rs 153.86 lakh crore, down nearly Rs 3 lakh crore from Friday’s close of Rs 156.87 lakh crore, data showed.

The Sensex ended 162 points, or 0.39 percent, down at 41,464.61 and the Nifty settled 56 points, or 0. 45 percent, lower at 12,226.65.

The regulator’s aim is to ensure that policyholders know what they’re getting to at the time of buying a cover.

Moneycontrol’s Shraddha Sharma talks to Preeti Kulkarni to find out what are the developments on the insurance front

Find out about the changes brought out in the sector and how investors can tread cautiously and ensure their savings grow

A TPA  acts as an intermediary between the insurance company and the policyholder

IRDA instructed insurance companies to include a standard list of exclusions and mandated the code number of each exclusion to be mentioned at the time of claim rejection.

Though the changes have been announced, clarifications on the taxation limits need clarity from the 2020 Union Budget.

The Budget will be presented by Finance Minister Nirmala Sitharaman on February 1.

While maintaining reduce call on the stock and raising target to Rs 2,020 (from Rs 1,900), Kotak Institutional Equities cut its revenue growth forecast marginally, but raised EBIT margin forecast by 20-30 bps.

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