Latest news with #CNBC-TV18
Business Upturn
8 hours ago
- Business
- Business Upturn
Dreamfolks shares recover 11% from intraday lows after company confirms ‘no clients lost'
Dreamfolks Services stock rebounded 11% from its intraday low after the company clarified to CNBC-TV18 that it has not lost any clients. As of 11:29 AM, the shares were trading 2.94% higher at Rs 243.00. The company stated, 'All our contracts are in place, and it's business as usual for us.' This reassurance comes amid earlier media reports suggesting potential client exits. Investors took confidence in the clarification, helping the stock recover from steep losses. The stock had earlier dropped following a June 19 PTI report claiming major banks and card networks—including ICICI Bank, Axis Bank, and Mastercard—were considering ending aggregator partnerships with DreamFolks to work directly with airport lounge operators. The report also suggested others might follow suit. The company's clarification helped restore investor confidence. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
India Today
13 hours ago
- Business
- India Today
Stocks to watch today: Oswal Pumps, Biocon, United Spirits, Sai Life Sciences
Stock markets remained volatile and ended flat on Wednesday, as investors stayed cautious due to weak global cues and growing tension in the Middle East. On Friday, a mix of company updates and investor actions may influence specific stocks on Dalal a major player in the biopharmaceutical industry, has closed its qualified institutional placement (QIP) issue. The company finalised the allotment of 13.63 crore shares, raising Rs 4,500 crore. These shares were allotted at Rs 330 each. Notable investors in the QIP include ICICI Prudential Mutual Fund, SBI Mutual Fund, HDFC Life Insurance, Nippon Life India, Mirae Asset, and Franklin SpiritsUnited Spirits has announced that it will buy 37,683 equity shares of Nao Spirits & Beverages in two parts from existing shareholders. The cost of this acquisition is Rs 53.80 crore. In addition to this, United Spirits will subscribe to 31,820 new equity shares and 27,577 compulsorily convertible preference shares (CCPS) for Rs 56 crore. Once the first part of this transaction is completed, United Spirits will own 97.07% of Nao Spirits, making it a Life SciencesSai Life Sciences may see movement today as TPG Asia VII SF Pte is expected to sell a 6% stake in the company. This translates to around 1.25 crore shares, according to a CNBC-TV18 report. The deal is likely to be worth about USD 102 million, with a base price set at Rs 710 per share. The block deal could draw attention from institutional investors and Technology IndiaKaynes Technology has launched its QIP on June 19. The floor price has been fixed at Rs 5,625.75 per share. According to sources quoted by CNBC-TV18, the company aims to raise up to Rs 1,600 crore through this offer. The QIP is likely to help the company with expansion plans or strengthen its IndiaShares of Nestle India could be in focus after the company announced that its Board of Directors will meet on June 26. They will consider a proposal to issue bonus shares. Investors will watch this development closely, as bonus shares usually lead to positive market OneDevender Kumar, the Chief Revenue Officer of Direct Business at Angel One, has resigned. His last working day will be September 30. Management changes at senior levels often affect investor confidence and may have a short-term impact on stock shares may be under pressure after Goldman Sachs sold more than 1.77 lakh shares through a block deal. The total deal size was Rs 48 crore, with the shares sold at a price of Rs 2,700.6 PumpsThough the listing is expected on June 20, market participants will watch Oswal Pumps closely. Its IPO received strong demand across all investor categories, and the grey market premium has hinted at a positive listing. Final price movement on debut will give an indication of investor confidence in the these updates, markets may see stock-specific action even as broader cues remain uncertain. advertisement
Business Upturn
a day ago
- Business
- Business Upturn
Kaynes Technologies launches Rs 1,600 crore QIP at upto 4.8% discount: Report
Kaynes Technology, one of the leading electronics manufacturing services companies, has announced plans to raise up to ₹1,600 crore through a Qualified Institutional Placement (QIP), according to a report by CNBC-TV18 . The QIP issue will be offered in the price band of ₹5,344 to ₹5,612 per share, implying a discount of up to 4.8% from the current market price. The final floor price will be determined in accordance with SEBI guidelines. This capital raise aligns with Kaynes Technology's strategic growth plans, which include capacity expansion, R&D investment, and working capital needs to support its domestic and international contracts. In the meantime, Kaynes Technology shares closed at ₹5,600.00 today, marking a decline from the opening price of ₹5,737.00. The stock touched an intraday high of ₹5,756.00 and a low of ₹5,580.00. Over the past 52 weeks, the stock has seen a high of ₹7,822.00 and a low of ₹3,726.00. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
India Today
a day ago
- Business
- India Today
GST Council may replace compensation cess with 2 new levies: Report
The GST Council is considering a major overhaul of the current cess structure, with plans to introduce a Health Cess and a Clean Energy Cess once the existing compensation cess expires in March 2026, CNBC-TV18 reported, citing government sources. The proposal is expected to be taken up by the Group of Ministers (GoM) on Compensation Cess, chaired by Minister of State for Finance Pankaj Chaudhary. Sources quoted in the report said that a meeting of the GoM is likely to be scheduled soon, and the GST Council may deliberate on the matter before the Monsoon Session of Parliament. The compensation cess was introduced to offset states' revenue losses following the rollout of GST in July 2017. Initially intended to end in June 2022, the cess was extended to help repay loans raised to cover the compensation gap during the pandemic. It is now scheduled to legally end on March 31, 2026. The GoM has reportedly reached a near-consensus on replacing the current cess with two separate levies. The Health Cess would be applicable on sin goods such as tobacco products, while the Clean Energy Cess would target items like coal and high-end automobiles. These proposals, sources said, reflect the government's emphasis on public health and environmental priorities. The idea is to continue generating revenue through a cess-based model, but with a sharper focus on social and sustainability goals, rather than extending the compensation mechanism designed for states. Most states are said to be supportive of the move, especially since it targets non-essential and harmful goods. However, the GoM is expected to meet once more before formally submitting its recommendations to the Council. Despite broad agreement within the GoM, legal and constitutional issues could complicate the rollout. The current GST framework does not permit the introduction of new cesses, and any fresh levy would likely require a constitutional amendment. Tax experts quoted by CNBC-TV18 noted that the compensation cess was allowed only as a transitional arrangement. Introducing new cesses, they argue, could violate the fundamental GST principle of 'one nation, one tax.' Concerns have also been raised about how revenue from the proposed cesses would be distributed. One tax expert told CNBC-TV18 that if the Centre retains the entire proceeds, states may oppose the plan, particularly since they had surrendered their individual taxation powers in exchange for a shared revenue system. The GoM on Compensation Cess was set up by the GST Council in September 2024 to chart a post-cess roadmap. It was initially expected to submit its report by the end of December 2024, but the timeline was extended. The full GST Council, which includes the Union Finance Minister and finance ministers of all states, is now expected to meet in late June or early July. Apart from the cess issue, the agenda may include discussions on GST rate rationalisation and steps to simplify compliance.
Economic Times
a day ago
- Business
- Economic Times
Jhunjhunwala family-backed IKS Health sees Rs 500 crore block deal; stock slides 4%
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Around 30 lakh shares of IKS Health , the tech-driven healthcare services firm backed by the Jhunjhunwala family , changed hands in a block deal worth Rs 499 crore on Thursday, representing 1.75% of the company's equity. The stock slipped as much as 3.7% intraday to Rs 1,640.55 on the BSE following the shares were traded at an average price of Rs 1,659, with the floor price set at Rs 1,650—a 2.6% discount to Wednesday's closing price of Rs 1,695, CNBC-TV18 reported. The identities of the buyers and sellers were not officially disclosed, though sources told CNBC-TV18 that multiple individual investors were likely on the sell block deal came just a day after the end of IKS Health's six-month post-IPO lock-in period on Wednesday. With the lock-in lifted, 10.5 crore shares—worth nearly $20 billion—became eligible for trade. Market participants had been anticipating such a stock has now fallen over 12% in two sessions and is trading about 22% below its post-listing high of Rs 2, Health is backed by the Jhunjhunwala family through three discretionary trusts—Nistha, Aryavir, and Aryaman—each holding a 16.37% stake in the company as of March 2025. Rekha Jhunjhunwala also holds a 0.23% stake but did not participate in the IPO the company listed on December 19, 2024, the Jhunjhunwala family reportedly made a staggering 530x return on their investment. The Rs 2,500 crore IPO was oversubscribed 53 times and debuted at Rs 1,900 on the NSE, a 43% premium over the issue price of Rs 1, part of the offer-for-sale, the three family trusts offloaded 33.57 lakh shares out of the 8.94 crore they held as of the September quarter. The IPO did not involve any fresh capital Health, formally known as Inventurus Knowledge Solutions, provides a care enablement platform for physician enterprises across the US, Canada, and Australia, with a primary focus on the US market. It serves more than 778 healthcare organizations, including high-profile clients such as Mass General Brigham Inc. , Texas Health Care PLLC, and The GI Alliance company has posted strong financial growth in recent years, with revenue, EBITDA, and profit rising at a CAGR of 54.3%, 32.3%, and 26.1%, respectively, between FY22 and FY24. For the six months ended September 2024, revenue from operations doubled to Rs 1,283 crore, while net profit rose marginally to Rs 208 the lock-in period now over and the first wave of selling underway, market watchers are keenly observing whether more exits by early investors or promoters will follow in the coming weeks.
