MUMBAI: Three initial public offers (IPOs) that closed on Thursday, together eyeing to garner Rs 2,562 crore, received bids aggregating nearly Rs 22,500 crore. Globe Civil Projects with an IPO size of Rs 119 crore was subscribed 86 times, Ellenbarrie Industrial Gases’ Rs 853-crore offer was subscribed 22 times while Mumbai-based real estate major Kalpataru’s…
NEW DELHI: A team of Indian officials is in the US for talks on a bilateral trade deal as two sides seek to narrow gaps.Sources told TOI that the team is led by India’s chief negotiator Rajesh Agarwal. Farm sector has emerged as one of the contentious areas with govt not keen to offer tariff…
The US economy shrank by 0.5% on an annual basis in the first quarter of 2025, as President Donald Trump’s trade war prompted a rush of imports, disrupting businesses, the commerce department announced on Thursday.This unexpected sharp downgrade from an earlier estimate of a 0.2% decline, reflects the economic fallout from Trump’s trade policies, which…
Zohran Mamdani (AP photo) The possible victory of Zohran Mamdani, the 33-year-old democratic socialist, in the upcoming New York mayoral polls has people on Wall Street worried. In Manhattan’s financial district, pessimistic predictions are circulating. According to Wall Street recruitment specialist Michael Nelson, his clientele, typically earning above $1 million annually, express serious concerns.“This will…
The Securities and Exchange Board of India (Sebi) on Thursday tightened compliance norms for mutual fund schemes, regulating that rebalancing timelines will now apply across types of passive breaches in actively managed funds and not just those related to asset allocation.Until now, SEBI’s mandate for portfolio rebalancing within 30 business days applied only to passive…
Delhivery, the logistics company, saw global and Indian investors like Morgan Stanley, Citigroup Global Markets Singapore and six other entities buy a 1.6% stake on Thursday. The shares were purchased via open market deals, totalling Rs 461 crore.According to data from the National Stock Exchange (NSE), other major buyers in the transaction included HDFC Mutual…
The National Stock Exchange (NSE) is set to launch electricity futures contracts within the next two to three weeks, offering power sector participants a tool to hedge against price volatility. The move comes after the exchange secured all necessary approvals from the Securities and Exchange Board of India (Sebi) last month.The product is designed to…
Indian companies appear to be turning inward to fund their growth, reporting a slowdown in debt accumulation over the past five years, a new report by the Bank of Baroda said.The research, which analysed the debt levels of non-financial corporates, found that total borrowings rose from Rs 20.7 lakh crore in FY21 to Rs 22.6…
Banks in many states will remain closed for three consecutive days starting Friday, 27 June 2025 due to the festival of Rath Yatra followed by a weekend. In Odisha and Manipur, banks will be shut on Friday in observance of Rath Yatra. However, as the ocassion is not observed as a banking holiday in other…
US stocks opened in green on Thursday, drifting toward the brink of another record. The S&P 500 reached 6,115.94, edging up 23.78 points or 0.39%, reaching closer to its record high last set in February. The Dow Jones Industrial Average also climbed 167.74 points or 0.39%, trading at 43,150.17. Nasdaq Composite, too followed the suit,…
