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Financial News Roundup: March 5, 2024
Market Live News
Adani Group’s successful dollar bond issue signals a strong comeback to the international market, with Adani Green Energy pricing a $409 million 18-year bond after receiving nearly $3 billion of demand for it. The bonds paid a yield of 6.7 per cent, 42.5 basis points cheaper than initially proposed, reflecting strong investor demand.
Stock Market Updates
- Exicom Tele-Systems Limited, specializing in power systems and electric vehicle charging, has been listed on the NSE with a public issue of ₹429.00 crore.
- Platinum Industries witnessed a strong listing at ₹230, translating to a 34% premium over its issue price of ₹171, reflecting investor confidence in the company’s strong fundamentals and sustained growth potential.
- HCL Technologies introduced AI Force, a GenAI platform, to enhance productivity and streamline software development and engineering lifecycles.
- Aurionpro Solutions Ltd’s shares were up by 3.24% after clinching a contract from the Government of Haryana to implement the HAPPY Scheme, providing free public transportation for families below the poverty line.
Currency Market Updates
The rupee declined 2 paise to 82.92 against the US dollar in early trade, influenced by a stronger American currency against major overseas rivals and outflow of foreign funds from domestic capital markets.
Stocks in News
- State Bank of India has filed a plea before the Supreme Court seeking an extension of its deadline to furnish data pertaining to the electoral bonds scheme.
- Macrotech Developers has launched its qualified institutional placement to raise Rs 3,300 crore.
- AU Small Finance Bank has received approval for the merger of Fincare Small Finance Bank with the company.
- Jio Financials Services will see promoters acquiring up to 14 crore shares of the company.
- Elantas Beck India will enter into a contract manufacturing arrangement with ACTEGA GmbH to supply commercial shipments.
- Brigade Enterprises has announced the launch of Dioro at Brigade El Dorado, with a potential revenue value of Rs 380 crore.
- Jindal Stainless has commenced the maiden usage of green hydrogen in its stainless-steel plant in Hisar, Haryana.
- Easy Trip Planners, in partnership with Punjab National Bank, has introduced the PNB EMT Co-branded Credit Card offering rewards for travel-related spending.
Market Indicators
Securities in F&O ban for trade date 05-March-2024 include ZEEL, while Gift Nifty indicates a flat-to-negative start for domestic markets, with a focus on global sentiment and cautiousness ahead of FED chair testimony and ECB policy later in the week.
IPO Updates
Ceigall India Limited, an infrastructure construction company, has filed its Draft Red Herring Prospectus (DRHP) with capital market regulator Sebi to raise funds for its initial public offering (IPO). Additionally, Denta Water and Infra Solutions Limited, a seasoned player in the field of water engineering, procurement, and construction (EPC) services, has received final observation from SEBI to raise funds through an IPO.
That’s the latest financial news roundup for March 5, 2024. Stay tuned for more updates on the dynamic world of finance and markets.
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