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Four cos set to go public next week; seek to raise over Rs 4,500 cr via IPO

The primary market is heading for a busy time, with four firms, including Global Health Ltd, which operates hospitals under the Medanta brand, and micro finance lender Fusion Micro Finance Ltd, lining up their IPOs next week. The other two companies whose IPOs are ready to open are DCX Systems, a manufacturer …

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RBI governor Shaktikanta Das cautions on backdoor entry in financial space

The use of technology has made financial entities more efficient, but it has also led to backdoor entry of unregulated players into the financial space that often do not abide by norms, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday. “This leads to several concerns including mis-selling, breach of …

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Best of BS Opinion: The Truss fallacy, confident despite infighting & more

The disaster of former British Prime Minister Liz Truss’ “low taxes, high growth” framework proves that there is no clear relationship between income tax rates and economic growth. Wealthier economies tend to be relatively highly taxed because they pay for expansive welfare programmes. The successful Asian economies without comparable safety nets tend to have smaller …

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PVR case: Sebi penalises 3 individuals for violating insider trading norms

Capital markets regulator Sebi has imposed fines totalling Rs 6 lakh on three individuals for violating the insider trading norms in the shares of PVR Ltd. The individuals – – Gautam Dutta (Noticee 1), NC Gupta (Noticee 2) and Pramod Arora (Noticee 3) — were the designated persons/ employees of the company …

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Rupee rises by 8 paise to 79.84 on weak dollar ahead of Fed chair speech

The rupee appreciated by 8 paise to close at 79.84 against the US dollar on Friday, supported by a weak dollar in the overseas markets and a positive trend in domestic equities. However, higher crude prices in the international markets restricted the rupee’s gain, forex dealers said. At the interbank forex …

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Best of BS Opinion: Discoms dues, code for pharma marketing, and more

The first edit says only transparent pricing and accounting will help the discoms recover their dues. According to second edit, the code for pharmaceutical marketing should be implemented. Vir Sanghvi: Rohini Nilekani’s book offers a useful maxim for philanthropists to live by M. S. Sahoo and Sumit Agrawal describe the operations of Sebi’s interim …

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Stock of this EPC and solar advisory firm has zoomed 1,475% so far in 2022

Shares of Gensol Engineering continued at their northward journey, hitting a new high of Rs 1,706.65 on the BSE on Friday, after the company said it has clinched deals worth over Rs 153 crore for building solar power projects in the states of J&K, Gujarat, Punjab, Rajasthan, Tamil Nadu, and Telangana. The stock …

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Listed private non-finance companies log 41% sales growth in Q1FY23: RBI

The Reserve Bank of India (RBI) on Thursday said the first quarter of FY23 saw listed private non-financial companies log 41 per cent sales growth. The RBI came out with its report, drawing the data from the abridged quarterly financial results of 2,749 listed private non-financial companies. “Sales growth (yoy) of …

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Best of BS Opinion: Chips for growth, the real cost of freebies, and more

Here is the best of Business Standard’s opinion pieces for Thursday. India is attempting to enter the global semiconductor market with a government commitment of $10 billion. Our editorial in this context notes that creating a base for semiconductors will be challenging. Read here India would do the world a favour if the next …

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Brokerages bullish on DreamFolks; IPO subscribed 2x, retail 8x end of Day 1

DreamFolks Services Limited IPO was subscirbed 1.96 times at the end of on day 1 of the offer period with strong demand seen from the retail investors and HNIs. As against 17.24 lakh shares reserved for ther retail category, the company has already received bids for up to 1.37 crore shares – i.e. …

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