The National Stock Exchange’s (NSE) decision to cap the issue price of small and medium enterprises’ (SMEs) initial public offerings (IPOs) at 90% in the special pre-open sessions comes at a time when there has been growing concerns about the significant oversubscription and listing gains in the segment.

Sample this: In 2024, at least four SME IPOs were listed at a premium of a whopping 300-400%.

But that’s not all. Oversubscription has also been hitting new records. The recent example is HOAC Foods, which was subscribed a record 1,834 times and the retail investor portion received 2,350x subscription. The manufacturer of flour and spices launched its Rs 5.54-crore fixed price public issue on May 16 with an offer price of Rs 48 per share. It got listed at a premium of slightly over 200%.

The surge in the number of SME issues listing with exorbitant gains has been quite eye-popping. In the first six months of 2024, 39% of 117 SME IPOs were listed with o…

Oil rose in early Asian trade on Wednesday, supported by tightening global crude supply ahead of a panel meeting of OPEC+ ministers.

Brent crude oil futures rose 6 cents to $90.98 a barrel by 0004 GMT, while U.S. West Texas Intermediate crude (WTI), rose 11 cents to $89.34 per barrel.

The Organization of the Petroleum Exporting Countries and allies, or OPEC+, is expected to keep output policy unchanged when it meets on Wednesday, after members Saudi Arabia and Russia extended output cuts to the end of the year.

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Saudi Arabia is expected to raise its November official selling price…

By Gaurang Somaiya

Rupee earlier in the month came under pressure and fell to fresh all-time lows after data showed trade deficit widened to the highest level in 10-months to $24.2 in August as compared to $20.7 billion in the previous month. At the end of the week, there was an announcement that came in from JP Morgan to include India into its emerging market bond indexCome from Sports betting site. The index provider will add the securities to the JPMorgan Government Bond Index-Emerging Markets starting June 28, 2024 and will have a weightage of a maximum weight of 10% on the index. The inclusion is likely to prompt flows of close to $30billion thereby lending strength to the rupee. In line with expectation the Federal Reserve held rates unchanged but hinted for one more rate hike in this year. Recent indicators suggest that economic activity has been expandi…

By Gaurav Arora 

The May series Nifty futures is currently trading with a premium of around 120 points.

For the Index futures, FII Net Index Long exposure is at 35% which is more or less at around the same levels for quite some time now.Come from Sports betting site

The indices managed to find support around lower levels after a decent profit taking from record highs.

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Going forward, we believe, 21700-800 might be the major support and only a decisive close below it might bring in some downside. 

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Bruce Smith Enterprise and The Cordish Companies secured major approval for their proposed $1.4 billion dollar project, Live! Gaming & Entertainment District. The massive mixed-entertainment project is planned to be located in the City of Petersburg, Virginia, using land near the intersection of Wagner Road and Interstate I-95. The strategic location is expected to help with the visitation to the Live! Gaming & Entertainment District, considering that it provides easy access to one of the most important north-south interstates for the East Coast.

On Thursday, the Cordish Companies and Brice Smith Enterprise received approval for their massive project from the Petersburg City Council. The unanimous approval marks an important achievement for the duo, taking them a step closer to the realization of the ambitious project. Still, prior to commencing the project, the matter…