Day Trading Stocks & Futures
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Ujjivan Small Finance Bank IPO subscribed 61%, retail portion fully booked
The shareholding of Ujjivan Financial Services in the bank would reduce to 83.3 percent post this issue.
The public issue of Ujjivan Small Finance Bank (USFB) has been subscribed 61 percent so far on December 2, the first day of bidding.
The offer has received bids for 7.63 crore equity shares against IPO size of 12.39 crore shares (excluding anchor portion), the exchanges data showed.
The portion set aside for retail investors has been oversubscribed by 3.5 times while the reserved category of non-institutional investors subscribed 15 percent and that of qualified institutional buyers has not received any bids yet.
Ujjivan SFB also reserved some portion worth Rs 75 crore for shareholders of Ujjivan Financial Services which have been subscribed 30 percent.
https://www.moneycontrol.com/news/b...d-20-retail-portion-fully-booked-4691311.html
The shareholding of Ujjivan Financial Services in the bank would reduce to 83.3 percent post this issue.
The public issue of Ujjivan Small Finance Bank (USFB) has been subscribed 61 percent so far on December 2, the first day of bidding.
The offer has received bids for 7.63 crore equity shares against IPO size of 12.39 crore shares (excluding anchor portion), the exchanges data showed.
The portion set aside for retail investors has been oversubscribed by 3.5 times while the reserved category of non-institutional investors subscribed 15 percent and that of qualified institutional buyers has not received any bids yet.
Ujjivan SFB also reserved some portion worth Rs 75 crore for shareholders of Ujjivan Financial Services which have been subscribed 30 percent.
https://www.moneycontrol.com/news/b...d-20-retail-portion-fully-booked-4691311.html
it's just that their process starts 1 year early..
India's economic growth likely to remain subdued in near future: Dun & Bradstreet report
According to a Dun & Bradstreet report, a pick-up in the industrial production will only be gradual as investment remains subdued.
India's economic growth is expected to remain subdued in near future as the slowdown has deepened and is likely to remain extended for a longer duration than previously anticipated, says a report.
According to a Dun & Bradstreet report, a pick-up in the industrial production will only be gradual as investment remains subdued.
Moreover, rural sector demand is likely to remain affected by the recent floods and lower agricultural output.
Besides, most of the sectors from auto to real estate are under stress and this is reflected in the profit margins of the corporate and revenue collections of the government.
"The conundrum of soaring domestic stock market indices in India, slowing growth, rising inflation, and elevated unemployment presents a complex challenge for policymakers to address. The slowdown has deepened and is now expected to remain extended than previously anticipated," said Arun Singh, Chief Economist Dun & Bradstreet India.
He further said that to address the current issue, both the Centre and the state governments should gear up to execute the infrastructure projects in pipeline.
"This would provide employment opportunities for the rural and urban poor. Secondly, it should work towards ensuring that auditing norms become more stringent," Singh said, adding that boosting consumption seems difficult when incomes are not growing, food inflation is rising and governance issues have increased in banking and non-banking sector.
"Reinforcing confidence of stakeholders in the ecosystem will be one of the biggest challenges for the government to tackle; there are no easy fixes," Singh said.
India's GDP growth hit an over six-year low of 4.5 per cent in July-September 2019, dragged mainly by deceleration in manufacturing output and subdued farm sector activity, according to official data released on Friday.
The pace of GDP growth has moderated from the 5 per cent rate in April-June and 7 per cent in July-September quarter of 2018.
https://www.moneycontrol.com/news/p...ear-future-dun-bradstreet-report-4692051.html
According to a Dun & Bradstreet report, a pick-up in the industrial production will only be gradual as investment remains subdued.
India's economic growth is expected to remain subdued in near future as the slowdown has deepened and is likely to remain extended for a longer duration than previously anticipated, says a report.
According to a Dun & Bradstreet report, a pick-up in the industrial production will only be gradual as investment remains subdued.
Moreover, rural sector demand is likely to remain affected by the recent floods and lower agricultural output.
Besides, most of the sectors from auto to real estate are under stress and this is reflected in the profit margins of the corporate and revenue collections of the government.
"The conundrum of soaring domestic stock market indices in India, slowing growth, rising inflation, and elevated unemployment presents a complex challenge for policymakers to address. The slowdown has deepened and is now expected to remain extended than previously anticipated," said Arun Singh, Chief Economist Dun & Bradstreet India.
He further said that to address the current issue, both the Centre and the state governments should gear up to execute the infrastructure projects in pipeline.
"This would provide employment opportunities for the rural and urban poor. Secondly, it should work towards ensuring that auditing norms become more stringent," Singh said, adding that boosting consumption seems difficult when incomes are not growing, food inflation is rising and governance issues have increased in banking and non-banking sector.
"Reinforcing confidence of stakeholders in the ecosystem will be one of the biggest challenges for the government to tackle; there are no easy fixes," Singh said.
India's GDP growth hit an over six-year low of 4.5 per cent in July-September 2019, dragged mainly by deceleration in manufacturing output and subdued farm sector activity, according to official data released on Friday.
The pace of GDP growth has moderated from the 5 per cent rate in April-June and 7 per cent in July-September quarter of 2018.
https://www.moneycontrol.com/news/p...ear-future-dun-bradstreet-report-4692051.html
India's manufacturing growth picks up in November - PMI
India’s manufacturing activity picked up in November as new orders and output rose at a faster pace, a survey showed on Monday, although factories were less optimistic about the future, shedding jobs for the first time since March last year.
That is likely to raise concerns any economic recovery could be delayed or remain below potential. Official data showed India’s economy expanded at its weakest pace in more than six years in the quarter to end-September.
With the Indian economy needing to grow around 8% each year to create enough jobs for millions of youth joining the labour force, Prime Minister Narendra Modi’s government will be pressured to take further steps.
The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, rose to 51.2 last month from 50.6 in October, confounding expectations in a Reuters poll for a decline to 49.8.
While the headline PMI has held above the 50-mark that separates growth from contraction for over two years, continued weakness in forward-looking indicators suggests factories were bracing for challenging times ahead.
That is largely because the global economy continues to decelerate and as real progress in the disruptive U.S.-China trade war remains elusive.
While a measure of demand - the new orders sub-index - rose to 52.0 from 51.3 in October, a sub-index measuring hiring by Indian factories went below the breakeven point for the first time since March last year.
“Rates of expansion in factory orders, production and exports remained far away from those recorded at the start of 2019, with subdued underlying demand largely blamed for this,” noted Pollyanna De Lima, principal economist at IHS Markit.
“Some level of uncertainty regarding the economy was evident by a subdued degree of business optimism. Also, companies shed jobs for the first time in over a year-and-a-half and there was another round of reduction in input buying.”
PMI data also showed a lack of inflationary pressures in November, which should support expectations for the Reserve Bank of India to cut its repo rate for the sixth time in a row at its Dec. 3-5 meeting.
https://in.reuters.com/article/indi...growth-picks-up-in-november-pmi-idINKBN1Y60E0
India’s manufacturing activity picked up in November as new orders and output rose at a faster pace, a survey showed on Monday, although factories were less optimistic about the future, shedding jobs for the first time since March last year.
That is likely to raise concerns any economic recovery could be delayed or remain below potential. Official data showed India’s economy expanded at its weakest pace in more than six years in the quarter to end-September.
With the Indian economy needing to grow around 8% each year to create enough jobs for millions of youth joining the labour force, Prime Minister Narendra Modi’s government will be pressured to take further steps.
The Nikkei Manufacturing Purchasing Managers’ Index, compiled by IHS Markit, rose to 51.2 last month from 50.6 in October, confounding expectations in a Reuters poll for a decline to 49.8.
While the headline PMI has held above the 50-mark that separates growth from contraction for over two years, continued weakness in forward-looking indicators suggests factories were bracing for challenging times ahead.
That is largely because the global economy continues to decelerate and as real progress in the disruptive U.S.-China trade war remains elusive.
While a measure of demand - the new orders sub-index - rose to 52.0 from 51.3 in October, a sub-index measuring hiring by Indian factories went below the breakeven point for the first time since March last year.
“Rates of expansion in factory orders, production and exports remained far away from those recorded at the start of 2019, with subdued underlying demand largely blamed for this,” noted Pollyanna De Lima, principal economist at IHS Markit.
“Some level of uncertainty regarding the economy was evident by a subdued degree of business optimism. Also, companies shed jobs for the first time in over a year-and-a-half and there was another round of reduction in input buying.”
PMI data also showed a lack of inflationary pressures in November, which should support expectations for the Reserve Bank of India to cut its repo rate for the sixth time in a row at its Dec. 3-5 meeting.
https://in.reuters.com/article/indi...growth-picks-up-in-november-pmi-idINKBN1Y60E0
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