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Economic Times
14 minutes ago
- Economic Times
NSDL shares jump over 13% in 2 days after market debut. Time to lock in gains or hold on?
NSDL shares jumped 6.6% to ₹997.65 on Thursday, extending their post-listing rally to 13.4% from the opening price of ₹880. Listed a day earlier at a 10% premium over the ₹800 IPO price, the stock has shown strong early gains but still trails the grey market premium, prompting investors to reassess holding vs. booking profits. Tired of too many ads? Remove Ads Strong institutional demand underpins listing Tired of too many ads? Remove Ads Market infrastructure backbone Financial performance and valuations What should investors do? Tired of too many ads? Remove Ads Shares of National Securities Depository Ltd (NSDL) surged as much as 6.6% on Thursday to Rs 997.65 on the BSE, extending their post-listing rally to 13.4% from the opening price of Rs 880, prompting investors to weigh whether they should lock in early gains or hold on for longer-term upside. NSDL shares listed on the BSE at Rs 880 on Wednesday, delivering a 10% premium over the IPO price of Rs 800 per share. The stock rose to an intraday high of Rs 920 on debut day, reaching a 4.5% high over its opening the two-day rally marks a promising start, it still lags behind the grey market premium of Rs 125 per share ahead of the listing, which had implied a 16% Rs 4,012 crore initial public offering was entirely an offer for sale (OFS) of 5.01 crore shares, with no fresh capital raised. The issue aimed to provide liquidity to existing shareholders and enable listing benefits, leaving the promoter holding unchanged at 20 crore shares appetite for the issue was robust, with the IPO subscribed 41.02 times overall. Qualified Institutional Buyers (QIBs) led the demand with a subscription of 103.97 times, followed by Non-Institutional Investors (34.98 times) and retail investors (7.76 times). The anchor book raised Rs 1,201.44 crore on July 29, reflecting strong institutional confidence.'National Securities Depository Limited (NSDL) made quite a good, solid debut on the stock market,' said Shivani Nyati, Head of Wealth at Swastika Investmart Founded in 2012, NSDL is a SEBI-registered Market Infrastructure Institution (MII) that plays a central role in India's dematerialized securities ecosystem. Its services include demat account operations, trade settlements, e-voting, pledge services, corporate actions, and consolidated account statements. As of March 2025, the company managed 3.94 crore active demat accounts through 294 depository subsidiaries, NSDL Database Management and NSDL Payments Bank, extend its reach into e-governance and digital financial FY25, NSDL reported a 12% year-on-year increase in revenue to Rs 1,535.19 crore, while profit after tax rose 25% to Rs 343.12 crore. The IPO was priced at a price-to-earnings (P/E) ratio of 46.63 and a price-to-book value of 7.98, which some analysts consider to be at the higher Nyati highlighted the company's strengths and said, "the company is expanding its horizon with more value-added services and options. The company posted steady growth in its top and bottom lines.' Nyati said, 'National Securities Depository Limited (NSDL) is SEBI-registered Market Infrastructure Institution and acts as a securities depository in India.'Analysts remain cautiously optimistic about the stock's prospects. 'Investors are advised to book partial profits near the listing level and retain some shares, possibly with a stop‑loss around Rs 850,' Nyati the initial pop fell short of bullish forecasts, NSDL's strategic role in capital markets, solid financials, and expanding services may support longer-term gains. For now, the debate turns to whether investors should pocket quick profits or hold on for more.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
14 minutes ago
- Time of India
Indian CEO offers Rs 2 lakh work-from-home internship with no degree required; here's how school students can also apply
What if we tell you that now you can apply for an internship that offers about Rs 2 lakh a month? Sounds bizarre, right? But that's what an Indian CEO is looking for; even school students can apply for the opportunity. Siddharth Bhatia, the co-founder and CEO of Puch AI, shared a post on his X (formerly called Twitter), advertising a lucrative internship offer where the selected candidate has a chance to earn a whopping stipend of Rs 2 lakh per month, and that too working from home. But is it real? Let's find out. Work From Home internship offer with an Rs 2 lakh stipend—what's that? On Wednesday, the CEO of AI Puch, a startup company that is focused on democratising Artificial Intelligence (AI) in India, revealed that his company is looking for two interns: One to work as an AI engineer Other to manage growth as the 'Growth Magician' Not only this, but the internship is a remote job, and its stipend could range between Rs 1 and 2 lakh per month. Hence, the successful candidate does need to show up in the office. How to apply? According to the CEO, anyone who is interested in the post can directly apply by commenting on the post's comment section. Here's the post mentioned below: 🚨 We're Hiring! 🚨Join @puch_ai to build AI for a Billion+ people.💰 Stipend: ₹1L–2L/month🗓️ Start: Whenever you're ready📍 Remote🚀 PPOs for top performers🎓 No degree needed. We hired a high schooler last Roles:1. AI Engineering Intern (Full-time)2.… College degree not required; high school students also welcomed If you are thinking about the eligibility criteria, the co-founder and CEO of Puch AI clarified in the post that a college degree is not a requirement for the position. He wrote in the post, saying, "We hired a high schooler last month." The post also noted that interested candidates can apply by directly commenting on his post. Netizens react to the viral internship worth Rs 2 lakh post on X As soon as the post surfaced on social media, it quickly grabbed the attention of netizens, who shared mixed reactions to the post and commented about their overall experience. One user who has been working as a developer for the last four years also applied for the post, and he wrote, "Hey, I'm a full-stack developer! I've been coding for almost 4 years now, I'm proficient in the TypeScript ecosystem and exploring Go at the moment. I've built Viewus, and it got around 100+ users. Built in Typescript NextJS, AWS, redis for caching and rate limiting, video_service using ffmpeg, sqs, etc." To which Bhatia personally replied, asking why he should hire you. While another added, "Hijacked growth for a bunch of startups before, why puch cause i have come this far(not too far) puch puch ke :p. I would be excited to make the muggles ball their eyes out on every other update and shout at the top of my lungs to make people puch lol through content, branding, voice and socials." "Try to make muggles ball their eyes out on this post or your comment. Feel free to shout at the top of your lungs. Let's see how it goes 😅" The comment section is already flooded with job seekers, describing their goals. FAQs Q. Who is the founder of Puch AI? The founders of Puch AI are Siddharth Bhatia and Arjit Jain. Q. What is puchai? Puch AI is an intelligent WhatsApp bot powered by a state-of-the-art language model specialised in Indic languages, providing instant information, fact-checking, and conversational assistance.
Economic Times
14 minutes ago
- Economic Times
GST fraud: ED raids in Jharkhand, West Bengal and Maharashtra
Synopsis The Enforcement Directorate executed new searches across Jharkhand, West Bengal, and Maharashtra concerning a Rs 750 crore GST invoice fraud. These actions, under the PMLA, targeted individuals and firms suspected of laundering illicit funds. This investigation follows the arrest and chargesheet of Shiva Kumar Deora, considered a key figure in the scheme, with initial searches conducted in May. IANS GST fraud: ED raids in Jharkhand, West Bengal and Maharashtra The Enforcement Directorate on Thursday conducted fresh searches in Jharkhand, West Bengal and Maharashtra as part of a "fake" GST invoices generation case to the tune of Rs 750 crore. At least a dozen premises in the three states were raided under the Prevention of Money Laundering Act (PMLA). The case pertains to generation of Rs 750 crore "fake" Input Tax Credit (ITC) involving shell entities and unauthorised financial channels in investigation stems from the arrest of a "key mastermind" of the case Shiva Kumar Deora. He was chargesheeted last month following his arrest in May current searches are being undertaken based on "credible evidence" that indicates involvement of several individuals and firms in laundering "proceeds of crime". The ED had conducted the first round of searches in this case in May.
