Samsung Electronics' employees in Sriperumbudur, Chennai have been on strike for the past 16 days, with the protest led by Centre of Indian Trade Unions (Citu). The company, however, issued a statement claiming that they prioritize the welfare of their workers and pay 1.8 times above the average salary in the region for full-time manufacturing workers. This is in contrast to the workers' claim that the average salary at Samsung is around Rs. 20,000-25,000 per month, while an industry body reports the average salary in the region to be around Rs. 16,000.
Retail investors have shown a keen interest in subscribing to the initial public offering (IPO) of Rajasthan-based KRN Heat Exchanger and Refrigeration. The IPO opened for bidding on Wednesday, September 25, and within 12 minutes, the issue was fully subscribed. The company is looking to raise Rs 341.95 crore through the IPO, with a price range of Rs 209-Rs 220 per share. The Non-Institutional Investor (NII) portion was subscribed the most at 29.67 times, followed by the retail portion at 15.48 times. KRN Heat Exchanger manufactures heat exchangers, coils, and other related products used in home, commercial, and industrial heating, ventilation, air conditioning, and refrigeration systems.
Shares of Easy Trip Planners Ltd. saw a decline of over 12 per cent after its promoters announced their plans to sell an 8.5 per cent stake, leading to a sell-off. The stock opened at a 4.5 per cent lower price, continuing its downward movement throughout the day. The block deal worth Rs 176.5 crore represented a 2.6 per cent stake in the company at a slight discount price. Despite the decline, the company has witnessed a 31 per cent increase in its consolidated profit after tax in the June 2024 quarter.
KRN Heat Exchanger and Refrigeration Ltd's highly anticipated initial public offering has been met with overwhelming response, with the IPO getting fully subscribed within minutes of opening for share sale. The company has raised Rs 100 crore from anchor investors and plans to raise a total of Rs 342 crore through its IPO. The funds will primarily be used for expanding manufacturing and setting up a new facility in Rajasthan, showcasing the company's growth plans and strong position in the heat ventilation and refrigeration industry. Don't miss your chance to invest in this promising IPO.
Title: KEC International Launches QIP at Floor Price of Rs 976.64 per Share KEC International Ltd, a global infrastructure EPC major, is in the news for launching a qualified institutional placement (QIP) of equity shares at a floor price of Rs 976.64 per share. The company may offer a discount of up to 5% on the floor price, with the final issue price to be determined in consultation with lead managers. This move has significantly boosted the company's shares, which ended 4.06% higher on Tuesday and have gained 62% in 2024. This development showcases KEC International's strong presence in the global market and its successful execution of infrastructure projects in over 30 countries.
The initial public offering of KRN Heat Exchanger and Refrigeration has received a massive response from investors, with the issue being subscribed 4.38 times within the first hour of bidding. The Rajasthan-based company, which specializes in manufacturing fin and tube-type heat exchangers, plans to raise Rs 341.95 crore through its IPO. Experts believe that KRN's experienced legacy, plans for capacity expansion, and rising demand in the HVAC market make it a promising long-term investment opportunity, with the grey market premium hinting at a potential listing pop of 110%. However, factors such as dependence on select customers and increase in input costs remain as key risks for the company.
The former Congress chief, Rahul Gandhi, has called out the Securities and Exchange Board of India (SEBI) to reveal the names of the 'big players' who have made a killing in Futures and Option (F&O) trading at the expense of small investors. A study conducted by SEBI has revealed that the average net loss for individual traders in F&O trading in FY24 was Rs 1.2 lakh, resulting in a total loss of Rs 1.8 lakh crore for small investors. It also showed that only 7.2% of individual traders made a profit, while 93% incurred an average loss of Rs 2 lakh per trader. The study has called for stricter regulations and control over F&O trading.
Samsung is offering an unbeatable deal on their latest 5G smartphone, Galaxy A14, during Flipkart's Big Billion Days sale. With an effective price starting at just Rs 9,999, consumers can get their hands on this top-performing phone with a regular discount of Rs 6,500 and an instant discount of Rs 1,000. The phone boasts a powerful Exynos 1330 processor and a 50MP triple rear camera, along with features like 'Voice Focus' and customizable lock screens. Stay up-to-date with the latest business news and stock market updates through Zee Business's social media platforms and YouTube channel.
In a successful nine-day winning streak, shares of Reliance Power have surged 5% after the company announced plans to allot 46.20 crore equity shares worth Rs 1,524.60 crore through a preferential issue to its promoters and other entities. The issue price of Rs 33 is at a 14% discount, making the news even more exciting for investors. The company plans to use a large portion of the proceeds for expanding its renewable energy portfolio and other business opportunities, in addition to reducing their existing debt.
The Indian Energy Exchange (IEX) saw a sharp decline in its stock price today after a media report revealed that market coupling will be implemented by the end of the current fiscal or the beginning of the next fiscal. With the Power Ministry pushing for timely completion of the pilot study on market coupling, IEX stocks fell to an intraday low of Rs 209.40, marking a 12.47% decrease. This could have a significant impact on IEX's trading volumes and may potentially dry up its market share, causing concern among analysts.