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Cochin Shipyard OFS gets 3.5x bids; govt exercises greenshoe
Cochin Shipyard's Offer for Sale saw strong demand from non-retail investors. The issue was subscribed 3.52 times on the first day of bidding. This robust interest prompted the government to utilize the entire greenshoe option. The Offer for Sale will now open for retail investors and employees. The floor price for this share offering was set at ₹1,400.
EV retail sales at all-time high of 3,06,220 units in June, penetration cross 12 pc: FADA
Electric vehicle retail sales in India reached an all-time high of 3,06,220 units in June. This growth pushed overall EV penetration past twelve percent for the first time, says the Federation of Automobile Dealers Associations. The two-wheeler segment led this surge, registering substantial year-on-year increases. Electric passenger and commercial vehicles also saw their best-ever months. Electrification has now moved decisively into the mainstream of Indian auto retail.
Gold, silver prices today: Comex gold and silver edge lower amid Middle East tensions, firm US dollar
Precious metals declined on 7 July amid rising tensions in the Middle East and ahead of Federal Reserve meeting minutes. Gold and silver futures fell sharply, continuously influenced by international geopolitical concerns and fluctuations in the US dollar and crude oil prices.
'Lovers': Brad Pitt, Ines de Ramon Make Relationship 'Official', Celebrity Hairstylist Post Viral
Brad Pitt and Ines de Ramon pose together during a recent public appearance.
NBFC credit grows 14% in May, led by retail and farm loans
Loans against gold jewellery remained the fastest-growing segment, surging 70% year-on-year to ₹3.29 lakh crore in May, compared with 39% growth a year earlier.
NBFC credit driven by retail loans, RBI data shows
Non-banking finance companies saw fourteen percent loan growth in May. Retail loans increased twenty percent, and agriculture loans rose eighteen percent. Loans against gold jewellery grew seventy percent, while consumer durable loans expanded forty-two percent. Vehicle loans grew fifteen percent, and services sector credit grew seventeen percent. Overall NBFC credit growth lagged behind banks' seventeen percent expansion.
Demat accounts surge by 2.6 million in June, highest since February
Demat account additions rose to a four-month high in June as revived IPO activity, easing geopolitical concerns and improving market sentiment attracted more retail investors
FIIs extend buying streak to third day even as markets snap winning run
Foreign institutional investors remained net buyers for a third consecutive session on Tuesday, even as benchmark indices snapped a four-day winning streak. Domestic institutions turned sellers, while the rupee strengthened sharply against the US dollar.
Cochin Shipyard OFS subscribed 3.52 times on Day 1; retail investors get to bid tomorrow
The government's Cochin Shipyard offer for sale drew robust institutional demand, with the non-retail portion subscribed 3.52 times, prompting the full green-shoe option. Retail bidding opens next, while the sale advances the government's disinvestment and public float expansion objectives.
INR seen supported by improving global risk sentiments
The Indian rupee appreciated 48 paise to close at 94.95 (provisional) against the US dollar on Tuesday, on improved global risk sentiments as higher traffic flows through the Strait of Hormuz reduced supply uncertainties. Market sentiment was also buoyed after Saudi Arabia slashed August crude oil prices for Asia by USD 11 per barrel. Moreover, softness in Brent oil prices is alaos expected to ease inflationary pressures for India, the world's third-largest oil importer. However, Indian shares ended slightly lower on Tuesday, with benchmark indexes Sensex and Nifty snapping a four-day winning streak. The Indian benchmark equity indices snapped their four-day winning streak, ending marginally lower due to late-session profit booking and weak Asian cues. The NSE Nifty 50 declined by 31.65 points (0.13%) to close at 24,398.70, while the BSE Sensex dropped 104.35 points (0.13%) to settle at 78,180.72.
Rupee Surges 48 Paise Against US Dollar To Close At 94.95 On Easing Oil Supply Concerns
On Monday, the rupee had depreciated 25 paise to close at 95.43 against the US dollar.
Google, Meta Tell Delhi HC They Can Only Remove Kejriwal Court Videos On Valid Takedown Requests
Delhi HC reserved hearing as Google and Meta opposed proactive removal of Arvind Kejriwal court video content.