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The STI, which tracks the performance of Singapore's top companies, closed sharply lower, driven by investor concerns over the implications of possible changes in U.S. monetary policy. The recent sell-off comes amidst growing discussions in financial circles about whether the Federal Reserve will implement rate cuts to address economic slowdowns and inflationary pressures in the United States.
Investors picked 198.15 crore equity shares against the offer size of 46.51 crore shares, with both Qualified Institutional Buyers (QIBs) and the retail category providing maximum support. The electric vehicle maker plans to spend Rs 1,227.64 crore on capacity expansion and another Rs 800 crore on debt repayment.
The dramatic downturn followed the release of disappointing U.S. jobs data for July, which revealed nonfarm payrolls significantly below market expectations and an increase in the unemployment rate. The weak data triggered concerns about a potential hard landing for the U.S. economy, spurring a global sell-off in equities. On Friday, the Dow Jones Industrial Average had already experienced its largest decline of the year, closing down 610 points.
Ceigall India Limited's IPO was oversubscribed 13.75 times despite a market downturn, reflecting strong investor confidence. The offering, priced at ₹380-401 per share, saw robust demand across all investor categories.
LIC's regulatory filing indicated that the office closure aligns with the curfew imposed by the Bangladeshi government. The unrest, initially sparked by student protests over a controversial job quota system, has intensified into widespread antigovernmental demonstrations, leading to significant disruptions and loss of life.
Berkshire Hathaway’s recent decision to cut its stake in Apple by nearly 49% and reduce its Bank of America holdings is a strategic move amid rising cash reserves. This adjustment follows a surge in Bank of America shares and comes at a time of increased market volatility.
The industry plays a significant role in global pharmaceutical exports, with India contributing over $25 billion.
SEBI's intensified focus on disclosures has compelled IPO-bound companies to accurately list promoters, leading to revisions through addendums to their Draft Red Herring Prospectuses (DRHPs).
Ola Electric's IPO has garnered over $2 billion in bids for the $330 million institutional allocation. Key investors include SBI, HDFC Mutual Funds, Nomura, and Norges Bank, reflecting strong market confidence in the company's future.
The company's organic, constant currency net sales fell by 16.8%, largely due to reduced retailer inventory levels in North American and international markets.
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