Harsha Engineers IPO opens today, GMP strong; anchor investors put in Rs 225 crore, should you subscribe?
The initial public offering (IPO) of?Harsha Engineers?International Ltd (HEIL) opened on Wednesday for subscription. The precision bearing cages manufacturer has set a price band of Rs 314-330 per share for the initial stake sale which will remain open for subscription till Friday, 16 September. Ahead of the IPO, the company raised Rs 225.7 crore through its anchor book. Harsha Engineers plans to raise Rs 755 crore through this IPO which consists of a fresh issue of Rs 455 crore and an offer for sale (OFS) of up to Rs 300 crore by shareholders and promoters. As part of the OFS, Rajendra Shah is looking to offload shares worth up to Rs 66.75 crore, Harish Rangwala up to Rs 75 crore, Pilak Shah up to Rs 16.50 crore, Charusheela Rangwala up to Rs 75 crore and Nirmala Shah up to Rs 66.75 crore. Harsha Engineers shares were commanding a grey market premium (GMP) of Rs 220 today, according to people who deal in unlisted stocks.
India’s WPI inflation eases to 12.41% in Aug, wholesale price remains in double digits for 17-months straight
India’s WPI inflation eased to 12.41 per cent in August, against 13.93 per cent in July, government data showed on Wednesday. Despite the cool-off in August, WPI continued to remain in the double digits for the 17th straight month beginning April 2021. “Inflation in August, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, electricity, food products etc. as compared to the corresponding month of the previous year,” said the Ministry of Commerce and Industry in a statement.
Fixed Deposit Interest Rate Increased: Bank Of Baroda offers up to 6.8% to Senior Citizens
Bank of Baroda?has increased Fixed Deposit interest rates on domestic term deposits of below Rs 2 crore. The increased rate is effective from 13 September 2022, the bank said in a statement.?
Bank of Baroda is now offering interest up to 6.8% for senior citizens under Baroda Advantage Fixed Deposit (Domestic) Accounts?for minimum Rs 15.01 lakh to below Rs 2 crore deposits.?
Paytm share price tanks 45% so far in 2022, but Citi remains bullish on fintech stock, sees this much upside
Paytm share price has tanked 45% so far in 2022, underperforming benchmark Nifty 50 which has advanced 1% YTD. Despite the stock eroding investors’ wealth, global brokerage Citi remains bullish on the stock, and has given Paytm shares a buy rating. Paytm shares were trading at Rs 727.40 today on NSE, down 1% from previous close. Though the stock has advanced over 7% in the past six months, it has fallen more than 45% in 2022 so far. Citi has set a target price of Rs 998 for the stock, meaning a 35% upside from Tuesday’s closing price of Rs 735 on NSE. The brokerage cited growth prospects in device penetration, merchant payment GMV share, and lending upsell opportunities among the reasons for its positive outlook on the stock.
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Google cancels plans to release Pixelbook in 2023: Report
In recent times, Google attempted to improve areas outside of Android including both tablets and the wearables. The Mountain View-based tech giant launched Android 12L’s stable version half-a-year ago in March, 2022 and recently announced the upcoming launch of Pixel watch which is set to be held on October 6, 2022.
Laptops was another area that the tech giant was keeping an eye on and was working towards expanding in the future. Google was planning to launch a new Pixelbook apparently – however, those plans have been cancelled now, a report from The Verge suggests. The company has reportedly dissolved the team as well.
2023 Kawasaki Z900 launched in India: Priced at Rs 8.93 lakh
Kawasaki India has started updating its popular motorcycles with minor cosmetic upgrades for the next calendar year. Having introduced the?2023 Kawasaki Ninja ZX-10R?just last week, the company has now launched the updated Z900. The new 2023 Kawasaki Z900 BS6 has been launched in India at Rs 8.93 lakh, ex-showroom.?
Defence Drone Revolution in India! IAF to build its own combat drones, experts say still a long way to go
Even as the Indian Air Force (IAF) is expected to develop an indigenous Unmanned Combat Aerial Vehicle (UCAV), the Indian Army is getting ready to have its own cadre to operate Unmanned Aerial Vehicles (UAVs).
By 2026 it is estimated that the “Unmanned market’’ is expected to witness a significant growth in India, which is anticipated to be the third largest market in the world. However, as the civil administration and states are fast adopting the indigenous civil drone industry, military drones are still being imported.