New issues raise a whopping Rs 3500 crores in the first month of 2024
In the first month of 2024, IPOs of 23 companies opened up for retail investors for subscription, both in the Mainboard and SME segments. The total amount raised by the companies was nearly Rs 3,500 crore. The Mainboard segment raised 5.6 times more than SME IPOs in January.
In the Mainboard segment, five companies raised around Rs 2,950 crore. Medi Assist Healthcare raised the most. The company raised around Rs 1,170 crore. Jyoti CNC Automation stands at second by raising Rs 1,000 crore. The remaining three aggregating raised nearly Rs 1,100 crore.
Meanwhile, 18 companies collectively raised Rs 522.54 crore in the SME segment. In which Baweja Studios raised – Rs 97.20 crore – the most in the category.
Market rally leads to higher re…
Power Grid Corporation surges over 7% on strong Q3 performance
Shares of Power Grid Corporation of India Ltd witnessed a surge of over 7%, nearing their record high, following the PSU power firm’s robust financial performance in the December 2023 quarter. The company reported a notable 10.5% year-on-year (YoY) rise in net profit, reaching Rs 4,028.3 crore compared to Rs 3,645.3 crore in the corresponding quarter of the previous year.
Power Grid shares climbed 7.42% to Rs 287.85, surpassing the previous close of Rs 267.95 on the BSE. The stock opened higher at Rs 273.35 and emerged as the top gainer on the Sensex for the day. The market cap of the firm reached Rs 2.63 lakh crore on the BSE, with a turnover of Rs 42.28 crore as 15.01 lakh shares changed hands.
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