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The Nifty settled near the 24,150 mark on Tuesday, down 0.55% after a sixth straight losing session. Analysts said the 24,030-24,000 zone is expected to act as a key support area. If the index falls below 24,000, selling pressure could trigger a deeper correction towards 23,850 as global cues remain weak.
New Delhi-based India Exposition Mart Ltd filed its draft red herring prospectus with SEBI for an initial public offering. The IPO includes a fresh issue of 75 lakh shares and an offer-for-sale of 2.3 crore shares. The company plans to use the proceeds for upgrading its Greater Noida exhibition centre.
Indian equities fell on Tuesday as Sensex dropped 493 points to 77,235 and Nifty lost 133 points to 24,155. Rising crude prices and weak global cues hurt sentiment. Vinod Nair said, “Elevated US yields further reduced the attractiveness of emerging markets.” Investors remain cautious as Middle East peace hopes faded.
Indian exporters may see revenue tailwinds from rupee depreciation fade in the second half of FY27, says a Nuvama report. These factors helped growth in the first quarter, but Nuvama said, "Some of these tailwinds will start to fade in H2FY27." Currency movements remain a risk for many companies.
US stocks opened lower on Tuesday as rising Treasury yields triggered a sell-off. The Nasdaq fell 1.2% while the S&P 500 and Dow also slipped. Oil prices climbed amid Iran tensions, and Klarna shares fell 18%. Meanwhile, Nasdaq plans to start nearly 24-hour trading on Sunday, December 6, for global investors.
Sunshine Pictures Ltd. saw its IPO get 4.33 times subscription on Tuesday, August 18. Retail and non-institutional investors led the demand, while institutional buyers stayed away. The issue, which closes on August 20, offers shares at ₹342–360. Analysts said the valuation looks expensive due to the company’s recent financial performance.
Gaja Capital raised Rs 165 crore via an anchor book on August 18 ahead of its Rs 550-crore IPO. The public subscription started on August 19 and closes on August 21. Fifteen institutional investors participated in the anchor round, with shares allocated at the upper price band of Rs 160.
Sebi on Tuesday barred merchant banker Corporate Capital Ventures from taking new assignments for one month over regulatory lapses. The regulator found six violations, including misleading website information and missing NISM certifications. Amarjeet Singh said, "I prohibit the noticee from taking new assignments for a period of one month."
Augmont Enterprises is in talks with eight mutual funds to manage liquidity for gold and silver ETFs ahead of its ₹825 crore IPO. The company plans to raise funds through a fresh issue and offer-for-sale. The IPO opens on August 21, with shares expected to start trading on August 31.
SEBI proposed digital KYC processes for overseas investors to simplify account opening for Non-Resident Indians. Nithin Kamath said, "Something that would take 2-3 weeks or even months could be done within 1-2 days." This move removes the need for physical presence, which could help boost NRI capital inflows into India.
GE Aerospace is using artificial intelligence at its Bengaluru technology centre to cut aircraft engine turnaround time by five days. Company executives said on Tuesday that these tools also reduce GEnx blade inspection times by 50%. Engineers now use AI to forecast parts needs before engines reach maintenance facilities.
The Income Tax Department launched a nationwide probe on 18 August into 394 entities over suspicious foreign remittances. Officials said, "Preliminary verification found that the amounts remitted abroad did not appear to have a clear correlation with the entities' reported turnovers." The department is now examining professionals who certified these transactions.