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Economic Times
4 days ago
- Business
- Economic Times
Sellowrap Industries IPO opens today; Check all details here
Sellowrap Industries launches its Rs 30.28 crore IPO today, priced at Rs 79-83 per share, aiming for NSE SME listing on August 1. Synopsis Sellowrap Industries is launching its initial public offering today. The IPO aims to raise funds for expansion and working capital. The price band is Rs 79-83 per share. The IPO will remain open until July 29. Listing on NSE SME is scheduled for August 1. The company manufactures auto parts and supplies to domestic and global markets. Auto parts maker Sellowrap Industries will open its Rs 30.28 crore IPO today with a price band of Rs 79–83 per share. The issue is entirely a fresh issue of 36.48 lakh equity shares and will close on July 29. Listing is slated for August 1 on NSE SME. ADVERTISEMENT The lot size is 1,600 shares, requiring a minimum investment of Rs 2,65,600 for retail investors. The IPO is witnessing modest demand in the unofficial market, with a grey market premium (GMP) of around Rs 14, implying a potential 17% listing gain. Proceeds from the fresh issue will be used for capital expenditure towards purchase of plant and machinery, infrastructure development and other auxiliary equipment. The funds will also be deployed for funding the working capital requirements of the company and general corporate purposes. Sellowrap, founded in 1983, manufactures plastic injection moulding parts, PU foam mouldings, labels, and sealing components for the automotive and white goods company has four manufacturing facilities in Gurugram, Pune, Ranipet, and Kancheepuram and supplies to marquee OEMs domestically and globally. It exports to Brazil, Germany, the UK, and other key markets. ADVERTISEMENT In FY25, the company clocked a revenue of Rs 163.3 crore, up 17% YoY, and net profit grew 68% to Rs 9.97 crore. Gretex Corporate Services is the book-running lead manager of the Sellowrap Industries IPO, while Purva Sharegistry India is the registrar. 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
16-07-2025
- Business
- Economic Times
Stock market update: Nifty IT index advances 0.14% in a weak market
Agarwal said the global economy is showing clear signs of recovery. The second wave of Covid-19 is ebbing in India with total active cases at less than 20 per cent of May highs. Synopsis The Nifty IT index was trading 0.14 per cent up at 37476.05. NEW DELHI: The Nifty IT index traded positive around 11:03AM(IST)on Wednesday in a weak market. ADVERTISEMENT LTIMindtree Ltd.(up 0.95 per cent), Wipro Ltd.(up 0.92 per cent), Infosys Ltd.(up 0.48 per cent), Tech Mahindra Ltd.(up 0.35 per cent) and MphasiS Ltd.(up 0.32 per cent) were among the top gainers. Coforge Ltd.(down 0.89 per cent) and Tata Consultancy Services Ltd.(down 0.58 per cent) were the top losers on the index. The Nifty IT index was up 0.14 per cent at 37476.05 at the time of writing this report. Benchmark NSE Nifty50 index was down 55.96 points at 25139.85, while the BSE Sensex was down 168.78 points at 82402.13. Among the 50 stocks in the Nifty index, 15 were trading in the green, while 35 were in the red. ADVERTISEMENT Shares of Vodafone Idea, JP Power, Network18 Media, Ola Electric Mobilit and YES Bank were among the most traded shares on the NSE. Shares of Fischer Chemic, Magellanic Cloud, Sangam Renewables, Mas Fin Services and NACL Industries hit their fresh 52-week highs in today's trade, while LCC Infotech, HDB Financial Servic, Vipul Ltd, Raymond Realty and Shree Vasu Logistics 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
Economic Times
09-07-2025
- Business
- Economic Times
Baseless and malicious: Vedanta slams Viceroy report, says claims ‘meant to discredit' the group
Vedanta alleges no prior contact by Viceroy before report release Synopsis Vedanta Group has refuted the Viceroy Research report, labeling its claims as unfounded and deliberately malicious, designed to tarnish the Group's reputation. Vedanta asserts the report, released without any prior contact, aims to spread misinformation and capitalize on market reactions. The Group suspects the report's timing is intended to disrupt upcoming corporate endeavors. Vedanta Group on Wednesday dismissed the allegations made in the Viceroy Research report, calling them 'baseless' and 'malicious,' to discredit the Group. ADVERTISEMENT Following the short-seller's report, Vedanta issued a statement to the stock exchanges, alleging that the report was published without any attempt to contact the company and with the sole objective of creating false Viceroy research group report on Vedanta – Limited Resources, published on 09 July 2025, is a malicious combination of selective misinformation and baseless allegations to discredit the Group. It has been issued without making any attempt to contact us with the sole objective creating false propaganda. It only contains compilation of various information - which is already in the public domain, but the authors have tried to sensationalise the context to profiteer from market reaction. The timing of the report is suspect and could be to undermine the forthcoming corporate initiatives. Our stakeholders are discerning enough to understand such tactics. In fact, to avoid any responsibility – authors of the report have added various disclaimers that the report has been prepared for educational purposes only and expresses their opinions and are not statements of fact (page 7). We remain focused on the business and growth, and request everyone to avoid speculation and unsubstantiated to come... 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
01-07-2025
- Business
- Economic Times
Raymond surges 7% as realty subsidiary set to debut on bourses
Raymond's real estate arm, Raymond Realty Ltd, will list on the stock market today. Synopsis Raymond shares surged 7% as Raymond Realty Ltd (RRL) debuts on stock exchanges today, following a demerger granting Raymond shareholders one RRL share per Raymond share. RRL, now independent, offers direct real estate exposure. SBI Securities projects a listing price between Rs 897 and Rs 1,430, based on FY26 EV/EBITDA multiples. Shares of Raymond surged 7% as its real estate subsidiary, Raymond Realty Ltd (RRL), is set to debut on the stock exchanges today, July 1, marking a major milestone in the group's restructuring efforts. The listing follows a recent demerger, with Raymond shareholders receiving one RRL share for every Raymond share held. ADVERTISEMENT RRL, now operating as an independent, pure-play real estate entity, offers investors direct exposure to the group's real estate business for the first time. According to SBI Securities, the stock is likely to list between Rs 897 and Rs 1,430, based on projected FY26 EV/EBITDA multiples of 11–15x and EBITDA growth forecasts of 0–20% over FY25. Raymond's share price is currently at Rs 756.10, reflecting a 6.59% increase from its previous close of Rs 624.35. The company's market capitalization now stands at Rs 4,722.74 crore. Over the past six months, the stock has declined by 55.37%. During the last 52 weeks, Raymond's share price has touched a high of Rs 3,496.00 and a low of Rs stock has a Price-to-Earnings (P/E) ratio of 0.62 and a Price-to-Book (P/B) ratio of 14-day Relative Strength Index (RSI) is at 53.7, with RSI levels below 30 considered oversold and above 70 considered overbought. (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
19-06-2025
- 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
