News Overview

The 2.9 Crore equity shares with a face value of ₹10 apiece that were approved for allotment to qualified institutional buyers (QIBs).

The listing date for the RK Swamy IPO is scheduled for March 12, while the refund process for investors who were not allocated shares will commence on March 11. Investors who have been allotted shares will receive them in their demat accounts on the same day.

This positive news propelled the shares of Zydus Lifesciences, witnessing a rise of up to 2.08% to reach a 52-week high of ₹982.1 apiece on the BSE, consequently elevating the company's market valuation to over ₹99,000 Crore.

The initial optimism in the market can be attributed to the rally in global markets, which followed after US Federal Reserve Chairman Jerome Powell reiterated the possibility of rate cuts this year and dismissed the near-term risks of an economic recession.

At the time of reporting, Persistent Systems' stock was trading at ₹8,341.95 on the NSE, showing a marginal down of 0.28% as of 01.02 pm.

US cotton prices rose by 20% MoM, due to recovery in demand leading to tight supply-demand balance. Soybean and corn fall 6% each, because of excess supplies, with disappointing U.S. mandates for plant-based renewable fuels contributing to weakness. Brazil corn and wheat prices, too, decline 12%/8% each. On the other hand, healthy global demand for rice continues to keep prices elevated. Bloomberg Agriculture spot index was down 3% MoM.

According to a regulatory filing from the company, the scope of work includes planning, acquiring, building, installing, and commissioning new Process Gas Compressor (PGC) modules at ONGC's Mumbai High & Tapti offshore locations

Two airframes will be acquired by SpiceJet as part of the arrangement, "enhancing the airline's fleet and operational capabilities," the statement read.

Over the last three years, MPHL’s Ebit margins have been in a tight range of 15-16%. Some of the mid-cap peers have managed to increase margins, driven by operating leverage and productivity improvements.

"With this investment, the business has now invested a total of ₹1,965 Crore in EESL. The company's ownership portion in EESL has not changed as a result of this acquisition, it stated.