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Economic Times
4 hours ago
- Business
- Economic Times
Stock market update: Nifty Bank index advances 1.22%
Investors should therefore use dips towards 15,200-15,400 to their advantage to accumulate quality largecaps and midcaps. Synopsis The Nifty Bank index closed 1.22 per cent up at 56252.85. NEW DELHI: The Nifty Bank index closed on a positive note on Friday. ADVERTISEMENT Shares of Canara Bank(up 2.23 per cent), Federal Bank Ltd.(up 1.77 per cent), HDFC Bank Ltd.(up 1.52 per cent), State Bank of India(up 1.41 per cent) and ICICI Bank Ltd.(up 1.12 per cent) ended the day as top gainers in the pack. On the other hand, finished as the top losers of the day. The Nifty Bank index closed 1.22 per cent up at 56252.85. Benchmark NSE Nifty50 index ended up 319.16 points at 25112.4, while the BSE Sensex stood up 1046.3 points at 82408.17. Among the 50 stocks in the Nifty index, 46 ended in the green, while 4 closed in the red. ADVERTISEMENT Shares of Vodafone Idea, RattanIndia Power, Vishal Mega Mart, Suzlon Energy and YES Bank were among the most traded shares on the NSE. Shares of Quality Power Electr, Prostarm Info System, Gallantt Metal, Gillanders Arbuthnot & Co and Indiabulls Enterprises hit their fresh 52-week highs in today's trade, while Navkar Builders, Sadhana Nitro, Lasa Supergenerics, Siemens Energy India and Chembond Chem hit their fresh 52-week lows. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
13 hours ago
- Business
- Economic Times
Mayasheel Ventures IPO opens for subscription today. Check details
Anchor investors have already committed Rs 7.76 crore in the pre-IPO placement round held on June 19. A total of 16.50 lakh shares were allocated to anchor investors ahead of the public offer. Synopsis Mayasheel Ventures Limited is launching its IPO on June 20, 2025, aiming to raise Rs 27.28 crore through a fresh issue of equity shares. The IPO, priced between Rs 44 and Rs 47 per share, will be open until June 24, with proceeds allocated for capital expenditure and working capital. Mayasheel Ventures Limited's initial public offering (IPO) will open for subscription on Friday, June 20, 2025, and will remain open until Tuesday, June 24, 2025. The Rs 27.28 crore issue is entirely a fresh offering of 55.14 lakh equity shares and will be listed on the NSE SME platform. The price band is fixed at Rs 44 to Rs 47 per share. ADVERTISEMENT Retail investors can bid for a minimum of one lot, which comprises 3,000 shares. Anchor investors have already committed Rs 7.76 crore in the pre-IPO placement round held on June 19. A total of 16.50 lakh shares were allocated to anchor investors ahead of the public offer. Mayasheel Ventures is a government-focused infrastructure company engaged primarily in road construction, including highways, bridges, and flyovers. It also undertakes electrical projects such as transmission line installation, street lighting, and power house construction. The company serves primarily through government tenders and has worked with agencies such as of March 31, 2025, it had 294 employees and a robust order book from road, bridge, and electrical projects. Its competitive strengths include a qualified management team, strong execution capabilities, and consistent compliance with quality the company reported revenue of Rs 172.05 crore in FY25, up 31% from Rs 131.14 crore in FY24. Net profit grew 74% year-on-year to Rs 11.33 crore in FY25. Its return on equity (ROE) stands at 42.83%, with a post-issue P/E of 9.14. ADVERTISEMENT The IPO proceeds will be used primarily for capital expenditure on machinery (Rs 4 crore), working capital requirements (Rs 14 crore), and general corporate Financial Services is the book-running lead manager and Maashitla Securities Pvt Ltd is the registrar. The tentative allotment date is June 25, with listing scheduled for June 27. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
14 hours ago
- Business
- Economic Times
Gold steady as Israel-Iran conflict escalates, US involvement uncertain
Gold prices remained stable at $3,367.60 an ounce amidst escalating geopolitical tensions between Israel and Iran, with investors closely monitoring potential U.S. involvement. Synopsis Gold prices remained stable at $3,367.60 an ounce amidst escalating geopolitical tensions between Israel and Iran. Investors are cautious as the U.S. considers involvement in the conflict. President Trump is weighing intervention, while diplomatic efforts are underway. The Federal Reserve's steady interest rates and potential U.S.-EU trade tariffs also influence market sentiment. Silver, platinum, and palladium experienced varied movements. Gold held steady on Friday, with geopolitical tensions escalating in the Middle East as Israel and Iran continued their air war, while investors remained wary of possible U.S. involvement. ADVERTISEMENT * Spot gold was steady at $3,367.60 an ounce, as of 0020 GMT. Bullion was down 1.9% so far this week. * U.S. gold futures were also stable at $3,384.20. * The conflict in the Middle East intensified on Thursday when Israel bombed Iran's nuclear sites, while Iran fired missile and drone strikes on Israel, including an overnight attack on an Israeli hospital. Neither side has signalled an exit strategy. * U.S. President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran air war, the White House said on Thursday, raising pressure on Tehran to come to the negotiating table. ADVERTISEMENT * Meanwhile, U.S. special envoy Steve Witkoff and Iranian Foreign Minister Abbas Araqchi have spoken by phone several times since Israel began its strikes on Iran last week, in a bid to find a diplomatic end to the crisis, three diplomats told Reuters. * Trump reiterated his calls for the Federal Reserve to cut interest rates, saying the rates should be 2.5 percentage points lower. ADVERTISEMENT * The Fed held rates steady on Wednesday, and policymakers retained projections for two quarter-point rate cuts this year. * European officials are increasingly resigned to a 10% rate on "reciprocal" tariffs being the baseline in any trade deal between the U.S. and the European Union, five sources familiar with the negotiations said. ADVERTISEMENT * The U.S. dollar index fell 0.2%, making greenback-priced bullion more affordable for overseas buyers. * Elsewhere, spot silver was steady at $36.36 per ounce, platinum fell 0.7% to $1,297.89, while palladium was down 0.4% to $1,046.71. All three metals were headed for weekly gain. DATA/EVENTS (GMT) 0100 China Loan Prime Rate 1Y, 5Y June 0600 UK Retail Sales MM, Ex-Fuel MM, YY May 0645 France Business Climate Mfg, Overall June 1230 US Philly Fed Business Index June 1400 EU consumer confidence flash June. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
a day ago
- Business
- Economic Times
Stablecoins' m-cap surges to a record $251 billion
If the US bill is signed into law, stablecoins would be required to be backed by liquid assets such as US dollars and short-term Treasury bills, and for issuers to publicly disclose the composition of their reserves on a monthly basis. Synopsis Stablecoins' market capitalization reached a record $251.7 billion following the US Senate's approval of a bill to regulate the sector. This legislation, requiring stablecoins to be backed by liquid assets and issuers to disclose reserves monthly, aims to legitimize the growing crypto segment. Analysts anticipate further market expansion upon the bill's enactment. The total market capitalization of stablecoins surged to a record high on Wednesday, data showed, as the US Senate passed a bill to regulate the sector, a major step towards legitimising a once-niche but now fast-growing corner of the crypto market. According to CoinDesk data, the market capitalisation of stablecoins hit an all-time high of $251.7 billion, up 22% so far this year. ADVERTISEMENT Stablecoins are a type of cryptocurrency designed to maintain a constant value, usually via a 1:1 peg with the US dollar. They are commonly used by crypto traders to move funds between tokens. Their use has soared in recent years, and analysts expect the market to grow further once the US legislation has passed. Proponents say stablecoins could be used to send payments instantly, while others worry they will lead to closer ties between the crypto world and traditional financial markets. If the US bill is signed into law, stablecoins would be required to be backed by liquid assets such as US dollars and short-term Treasury bills, and for issuers to publicly disclose the composition of their reserves on a monthly basis. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
Economic Times
3 days ago
- Business
- Economic Times
Stock market update: Nifty Pharma index falls 0.94% in a weak market
Stocks in focus: RIL, Tata Motors, Infosys, IIFL Securities, Apollo Hospitals, Punjab National Bank, NBCC and more.. Synopsis The Nifty Pharma index was trading 0.94 per cent down at 21831.4. NEW DELHI: The Nifty Pharma index traded negative around 10:20AM(IST)on Tuesday in a weak market. ADVERTISEMENT Gland Pharma Ltd.(up 0.92 per cent), Biocon Ltd.(up 0.91 per cent), J B Chemicals & Pharmaceuticals Ltd.(up 0.25 per cent) and Torrent Pharmaceuticals Ltd.(up 0.01 per cent) were among the top gainers. Sun Pharmaceutical Industries Ltd.(down 1.95 per cent), Lupin Ltd.(down 1.78 per cent), Natco Pharma Ltd.(down 1.4 per cent), Aurobindo Pharma Ltd.(down 0.91 per cent) and Zydus Lifesciences Ltd.(down 0.9 per cent) were the top losers on the index. The Nifty Pharma index was down 0.94 per cent at 21831.4 at the time of writing this report. Benchmark NSE Nifty50 index was down 65.85 points at 24880.65, while the BSE Sensex was down 210.76 points at 81585.39. Among the 50 stocks in the Nifty index, 14 were trading in the green, while 36 were in the red. ADVERTISEMENT Shares of Vishal Mega Mart, Vodafone Idea, RattanIndia Power, JP Power and YES Bank were among the most traded shares on the NSE. Shares of Federal Mogul, Subros, Steel Strips, Niraj Ispat Ind. and AXISCADES Engg Tech hit their fresh 52-week highs in today's trade, while Navkar Builders, Sadhana Nitro, Bluspring Enterprises Ltd., Shyam Century Ferrous and Kesoram Inds. hit fresh 52-week lows in trade. (You can now subscribe to our ETMarkets WhatsApp channel) Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains NEXT STORY
