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Stock Market LIVE: Indices expect cautious start; SGX Nifty in green

A pessimistic mood has taken a grip on investors as central bankers seem ready to push the market into recession and keep fighting inflation as their main task. Inflation has been easing but remains painfully high. That has prompted the central bankers to maintain their aggressive attack.

19 Dec 2022, 07:47:19 AM IST

KFin Technologies IPO opens today: GMP, review, other details

The initial public offering (IPO) of KFin Technologies Ltd has opened today and it will remain open for subscribers till 21st December 2022. The technology-driven financial services company aims to raise 1,500 crore from its public offer, which is completely OFS (offer for sale) in nature. The financial services company has fixed KFin Technologies IPO price band at 347 to 366 per equity share.

Meanwhile, shares of KFin Technologies Ltd have become available in grey market ahead of its subscription opening date. According to market observers, shares of KFin Technologies are available at a premium of 5 in grey market today. (Read More)

19 Dec 2022, 07:38:06 AM IST

Samara Cap leads race for Birla’s insurance biz Inc.’s Indian private equity partner Samara Capital has emerged as the frontrunner to buy the insurance broking unit of Aditya Birla Capital Ltd, two people directly aware of the development said on the condition of anonymity.

“Over the past few weeks, Samara Capital and Aditya Birla Capital (the promoter of Aditya Birla Insurance Brokers Ltd) have been negotiating the valuation. For Samara, entering the financial services business is a crucial part of its strategy,” one of the two people cited above said, adding the private equity firm has made an offer for the insurance broker. (Read More)

19 Dec 2022, 07:33:11 AM IST

KKR completes ₹2,474-crore investment in UPL agritech arm

UPL has announced the completion of an investment of 2,474 crore by global investment firm KKR for 13.33 per cent stake in Advanta Enterprises, agritech arm of UPL, formerly known as United Phosphorus Ltd.

This is a part of the larger corporate realignment exercise announced in October 2022 to create four distinct business platforms — Global Crop Protection, India Agtech, Global Seeds and Manufacturing and Specialty Chemicals — to unleash growth potential of each of these platforms and unlock the value for UPL shareholders by facilitating ‘fair value recognition’ of each platform, according to a UPL statement shared with stock exchanges on Saturday.

On October 21, UPL announced that ADIA, Brookfield, KKR and TPG will separately invest 4,040 crore for minority stakes in UPL’s pure-play business platforms. (ANI)

19 Dec 2022, 07:32:33 AM IST

Poonawalla readies ₹1,000 crore fund for growth-stage firms

Adar Poonawalla, chief executive of Serum Institute of India, has sought regulatory approval to establish the Poonawalla Vision Fund to invest in growth-stage companies from its corpus of 1,000 crore contributed by his family, two people with knowledge of the development said.

An application to the Securities and Exchange Board of India (Sebi) was made on 29 September for registration as a category-II alternative investment fund (AIF), one of the two people said, requesting anonymity. “The application is under process.” (Read More)

19 Dec 2022, 07:30:15 AM IST

India’s economic activity looks set to slow as resilience wanes

India’s economy appeared to slow rather than accelerate last month, as high-frequency indicators tracked by Bloomberg signaled worsening business and consumption activity.

Although a dial measuring so-called animal spirits showed activity was steady for a fifth straight month in November, the needle was just one bad data point away from swinging to the left. Exports, a key growth lever in the past year, was among three of eight metrics that performed poorly. The rest were unchanged. (Read More)

19 Dec 2022, 07:29:15 AM IST

Sula Vineyards IPO allotment date likely today. How to check status online

Announcement of share allocation for the initial public offering (IPO) of Sula vineyards Ltd is expected any time today as the tentative Sula Vineyards IPO allotment date is 19th December 2022. Those who have applied for the public issue can do Sula Vineyards IPO status check online y logging in at the BSE website — or at the website of the official registrar of the IPO. The official registrar of Sula Vineyards IPO is KFin Technologies Limited and its official website is (Read More)

19 Dec 2022, 07:28:27 AM IST

Wall Street loses ground on Friday, marking 2nd straight weekly loss

Wall Street racked up more losses Friday, as worries mounted that the Federal Reserve and other central banks are willing to bring on a recession if that’s what it takes to crush inflation.

The S&P 500 fell 1.1%, its third straight drop. The Dow Jones Industrial Average dropped 0.8% and the Nasdaq composite lost 1%. The major indexes marked their second straight weekly loss.

The pullback was broad. More than 80% of stocks in the benchmark S&P 500 fell. Technology and healthcare stocks were among the biggest weights on the market. Microsoft fell 1.7% and Pfizer slid 4.1%.

The Fed this week raised its forecast for how high it will ultimately take interest rates and tried to dash some investors’ hopes that rate cuts may happen next year. In Europe, the central bank came off as even more aggressive in many investors’ eyes. (AP)

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