Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.

CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.

Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.

Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment

Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.

The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.

Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.

Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.

The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.

Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements

Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'

Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.

Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.

The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.

Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from

Crayons Advertising, a homegrown integrated advertising agency, is set to go public on Monday, May 22, with a price band of Rs 62-65 per share. The company plans to use the proceeds from the public issue to invest in setting up its own film and animation studios and enhancing its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech.

Krishca Strapping Solutions has announced its Initial Public Offering (IPO), planning to raise Rs 18 crore. The manufacturing company, incorporated in 2017, specializes in making and selling high-quality steel straps, steel seals, strapping tools and other packaging solutions. The IPO's size consists of up to 33.2 lakh equity shares with a face value of Rs 10 each. The company has a steel strapping capacity of 18,000 MT annually and aims to use the net proceeds for setting up a new strapping line, repayment of debt and for other corporate purposes.

Nexus Select Trust, India's first retail assets-led real estate investment trust (REIT), backed by Blackstone Group, has raised over INR1.44bn ($19m), accounting for 45% of a $429m IPO, from 16 institutional investors in its fully-subscribed anchor book. The REIT owns 17 assets across 14 cities with Mumbai, Bangalore and Delhi being the primary markets. At the upper end of the IPO's price band, which was INR95-100 per unit, the issue was subscribed 6.55 times in the non-institutional investor category and 5.06 times by institutional investors.

Nexus Select Trust REIT IPO's share allotment is set to take place on May 16th, with the process being supervised by the registrar. Investors may receive shares based on a lottery basis. Investors can check their allotment status through the BSE or the registrar's website. Currently, Nexus Select Trust shares are commanding a premium of ₹2 in the unlisted market. The company aims to offer a pre-tax yield of 8% in FY24, at the upper price band, and will be India’s first REIT with rent-yielding retail real estate assets.

Sources told ET that the total IPO size would be Rs 900 - 1,100 crore, and the company may consider a Pre IPO placement of Rs 123 crore.

The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of ₹95-100 per unit.

Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.

India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.

The ports business of the Sajjan Jindal-led JSW Group plans to deploy the proceeds of the public issue to retire its debt and fund capacity expansion projects. The IPO is entirely a fresh share issue.

Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyer’s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May.

The JSW Infrastructure IPO is the third public listing by the JSW Group and follows 13 years after the public listing of JSW Energy in January 2010. JSW Infrastructure Promoters will not be diluting their current stake.

At Tuesday's closing price, Mankind Pharma was valued at a price-to-earnings ratio of 43 times its FY22 earnings. Mankind is now India's fifth largest pharma company by market value of ₹57,046 crore. Sun Pharma, Divi's Lab, Dr. Reddy's Lab, and Cipla are currently valued between ₹75,284 crore and ₹2.31 lakh crore.

Nexus Select Trust real estate investment trust (REIT), which includes a fresh offering and OFS portion, was subscribed 28% on the first day of the IPO. The REIT has a price band of Rs 95-100 per unit and closed on May 11. A day ahead of the IPO, Nexus raised Rs 1,440 crore from anchor investors. At the upper band of Rs 100 per unit, the company has a market cap of Rs 15,150 crore and offers a pre-tax yield of 8% in FY24. It is the largest mall platform in India and includes 17 high-quality assets.

Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore.

Mankind Pharma is set to list on May 9 with a premium of Rs 120 apiece according to grey market trends. The company is valued at a price-to-earnings ratio of 30 times FY22 earnings and has a market capitalisation of Rs 44,000 crore. The initial share sale of the company was subscribed 15.32 times with strong interest from QIBs and is the largest IPO so far this year. The company has 25 manufacturing facilities across India, a dedicated in-house R&D centre and a team of over 600 scientists.

Cainiao Network Technology's initial public offering (IPO) plan comes after Alibaba flagged in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.

RR Kabel proposes to utilise the net proceeds towards the funding of repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions estimated to be Rs 170 crores.

The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.

India's first retail asset offering, Nexus Select Trust, will launch its IPO on May 9, closing on May 11, with a price band for its initial shares of between INR 95-100 ($1.28-$1.35). The company, which has 17 high-quality mall assets in 14 cities across India with a total leasable area of 9.2 million sq ft, is the country's largest mall platform. The IPO comprises a fresh issue of shares worth INR 1,400 crore and a sale of existing shares of up to INR 1,800 crore.

Nexus Select Trust is India’s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities such as Delhi (Select Citywalk), Navi Mumbai (Nexus Seawoods), Bengaluru (Nexus Koramangala), Chandigarh (Nexus Elante), Ahmedabad (Nexus Ahmedabad One) among others.​

Tata Play and drone maker ideaForge Technology have both received regulatory approval from the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs). Tata Play was the first company in India to use the confidential pre-filing of draft papers option for an initial share sale in December 2022, and obtained the regulator's observation letter on April 26.

The public issue comprises a fresh issue of Rs 300 crore and an offer for the sale of 48.69 lakh equity shares. The offer also includes a reservation for a subscription by eligible employees.

The IPO comprises fresh issues of up to Rs 625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by promoter and investor selling shareholders.

The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on February 16.

Mankind Pharma's Rs 4,326 crore initial public offering (IPO), the largest by a domestic drug maker so far in 2021 and with a 15.32 times subscription rate, will have share allotments made on 3 May via a lottery. Retail investor bids for the offer-for-sale fell below 100%. The IPO values Mankind Pharma at a price/earnings ratio of 30 times FY22 earnings, with its shares said to command a Rs 95-98 premium in the unlisted market, indicating an expected premium of 9% for the company when it lists. Mankind Pharma has 25 manufacturing facilities in India.

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.

Industry experts predict that in FY24, more small and medium-sized (SME) companies will plan to go public, further increasing the amount of money raised, following over 100% YoY growth. In FY2022-23, IPOs collectively raised over INR 2,200 crore ($296m). This was achieved through 125 issues, and it is expected that 150-200 companies from this sector could list on Indian stock exchanges in FY24. Hem Securities has supported around 80 SMEs to become listed, with many instances of over 100% returns. The objective of the SME IPO Conclave was to encourage entrepreneurs to list and share success stories.

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.

The conglomerate, controlled by billionaire Mukesh Ambani, is in talks with Indian regulators to secure the necessary approvals for the market debut of Jio Financial Services Ltd. in Mumbai, one of the people said, asking not to be identified as the information is private. The parent is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit, according to an exchange filing in March.

Asian markets mostly rose following the US House's bill to prevent default and ahead of the Federal Reserve's next policy meeting and China's economic state. The bill will now go to the Senate. If passed, it would prevent a default that many had feared would severely damage the global economy and markets. Hong Kong, Tokyo, Shanghai, Singapore, Wellington and Manila all rose, but Seoul and Taipei struggled. Investors now await US jobs data along with concerns about China's economy, which continues to show signs of fragility.

In the NSE list of stocks, 4 stocks with a market cap of over Rs 10,000 crore are witnessing Golden Crossovers, according to StockEdge’s technical scan data.

The US dollar slumped from its two-week high on Thursday as investors reduced their bets on an interest-rate increase. Although the U.S. House of Representatives had passed a bill to suspend the $31.4tn debt ceiling earlier in the week, the focus is now on how it will fare in the Democratic-led Senate. The dollar was mixed in Asia trade and hardly reacted to the vote. Markets currently believe that there is about a 26% chance that the US Federal Reserve will increase the rate 25 basis points at the meeting, down from the near 67% chance a day before.

​On the candlestick screener, a bullish reversal pattern helps identify stocks that can move upwards from a downtrend in the future.​​

Federal Reserve officials suggest skipping a June rate hike, resulting in a quick reversal of market expectations, as the US central bank weighed the value of caution against still-strong inflation data. Governor and vice-chair nominee Philip Jefferson said any decision to hold rates steady should not be viewed as the end of the tightening cycle. His remarks were taken as a cue, two days before the start of a blackout period that prohibits further public comment about the 13-14 June policy meeting. The rate hike skip has now become jargon for an emerging compromise.

Gold prices increased slightly in Asia, supported by a weaker dollar, but was range-bound as traders watched for the critical U.S. debt ceiling vote. Spot gold rose 0.2% to $1,965.61 per ounce while U.S. gold futures increased 0.2% to $1,965.20. The dollar index eased from a more than two-month high, prompting buyers from overseas to purchase more of the metal. Investors kept a watchful eye on the vote, which would be critical to global financial markets if a default occurred. Data showed that U.S. job openings in April increased, pointing to a strong labour market with the potentiality to prompt the Fed to raise interest rates.

Arnault first surpassed Musk in December as the tech industry struggled and luxury showed resilience in the face of inflation. LVMH, which Arnault founded, owns brands including Louis Vuitton, Fendi and Hennessy. Faith in the luxury sector’s buoyancy is starting to fade amid mounting signs of slowing economic growth, particularly in the critical market of China. LVMH shares have tumbled about 10% since April, at one point wiping $11 billion from Arnault’s net worth in a single day.

​Bearish reversal pattern on the candlestick screener can help ascertain stocks where the trend can change downward from an uptrend zone.​

Oil prices slipped for the third consecutive session after unexpected data showed a large increase in American crude stocks, boosting fears of oversupply. The surprising build undermined the impact of production cuts imposed by OPEC+, and has stoked fears of weaker demand from China, the world's second largest consumer of oil. June 4 sees a crucial OPEC+ meeting, with analysts suggesting that a deal to cut production further will not be announced. In addition, markets are increasingly concerned that unusually strong US labour market data released on Wednesday will result in a hike in interest rates by the Federal Reserve.

The major U.S. stock indices closed down on Wednesday as investors expressed concern that the Federal Reserve may hike interest rates again in June if the "hawkish pause" proved to be fleeting. Although the House of Representatives is poised to vote for a bill to lift the federal debt ceiling, the economy is still slowing, and inflation needs to decline further. Futures traders predict a 70% probability of a 25-basis-point hike at the June 13-14 Fed meeting. Tim Ghriskey, Chief Investment Strategist at Inverness Counsel, said forthcoming employment data could determine whether a rate hike occurs.

​This indicates a bullish sentiment in the market, as the average traded and delivered quantity for 5 days along with the cumulative open interest, and the price for the stocks have increased. ​

Benchmarks will likely react to GDP data, which beat the analyst estimates in the fourth quarter by growing at 6.1%. Analysts say a positive macro date would give direction to RBI in its upcoming policy meeting.

South Indian Bank has finalised the candidates for the post of MD and CEO of the Bank. The lender will submit the application to the RBI seeking approval for the same.

India's economy grew by 7.2% in FY23, higher than previously predicted, due to strong growth in the last quarter. In that quarter, GDP rose by 6.1% YoY, while in the preceding two quarterly reports it had risen by 4.5% and 4.8% respectively. Despite concerns that private consumption was sluggish, with a rise of just 2.9%, an increase in government capital spending boosted gross fixed capital formation by 8.9%, and private consumption grew 7.5% in the past financial year.

These proposals come amid Sebi's probe into allegations regarding infringements of overseas investor ownership and minimum public shareholding rules by the Adani Group made in the late January Hindenburg Research report that triggered a crash in its stocks.

ONGC, Indian Oil, Power Finance Corporation (PFC), REC, SAIL, General Insurance, Oil India, and New India Assurance are among the PSUs trading below their book value. ONGC, which rallied 10% in the last six months, is trading at a book value of 0.71 times. According to the Bloomberg Consensus estimates, the stock is expected to yield 18% in a year.

Latest RBI data shows that the outstanding currency in circulation (CIC) as on May 26 was at ₹34.4 lakh crore, registering a weekly fall of ₹36,492 crore. A decline in CIC reflects less leakage of funds from the banking system.

The debt issue is part of the ₹57,000 crore fundraising plan approved by HDFC's board of directors at its meeting held on March 27, 2023.

SBI Mutual Fund bought 1.42 crore shares worth ₹823 crore, while Society Generale purchased 33 lakh shares worth ₹193 crore. Other large buyers include Norges Bank, WF Asian Smaller Companies Fund, Aditya Birla Sun Life MF, ICICI Prudential Mutual Fund, and T Rowe Price Asia bought shares worth between ₹100 crore and ₹150 crore.

The government has proposed to sell up to 9.24 crore shares representing 1.50% of the total paid-up equity as a base offer with an option to additionally sell 9.24 shares or 1.5% of the company equity in the event of oversubscription.

In the first fortnight of May, the average daily quantum of extra funds parked by banks with the RBI dropped to ₹56,578 crore, almost four times lower than an average daily surplus of ₹2 lakh crore in the same period a month ago.

Credit growth to the services sector accelerated to 21.6% during the month from 11.2% a year ago primarily driven by higher lending to non-banking financial companies which rose 29% year-on-year and trade at 18%. Retail loans rose 19.4% in April compared to 4.4% a year ago, mainly driven by 'housing loans' and 'vehicle loans', RBI said.

Go First has undrawn limits of about Rs 200 crore under the government’s emergency credit line guarantee scheme (ECLGS), which was introduced to support sectors like travel and tourism that were hit hard by the Covid-19 pandemic disruptions, they said. The banks’ decision not to release more money is likely to further delay any chances of the airline resuming operations.

The proposals are designed to prevent circumvention of minimum public shareholding requirements and misuse of the FPI route to guard against risks of an opportunistic takeover. The move follows SEBI's difficulty in identifying the beneficial owners of some foreign portfolio investments in Adani stocks, since the existing regulations are lax in identifying their true ownership.

Investment firm Abrdn has sold its 1.66% stake in HDFC Life Insurance, through its affiliate abrdn (Mauritius Holdings) 2006. Abrdn sold 3,56,94,105 shares at Rs 579.60 each, accruing a gain of Rs 2,069 crore from the sale.

Oil prices decreased due to China's weaker-than-expected purchasing managers' index (PMI) and the stronger US dollar, which makes commodities more expensive for foreign buyers. Brent crude futures for August dropped by 0.99% to $72.98 per barrel, while US West Texas Intermediate crude fell by 1.3% to $68.56 per barrel. With OPEC+ holding its meeting on 4 June, major OPEC+ producers provide mixed signals on potential further reduced oil production. Banks HSBC and Goldman Sachs believe that China and the West's stronger oil demand in the summer will cause a supply deficit later in the year.

In Europe's biggest economy Germany, inflation slowed to 6.1 percent year-on-year in May, preliminary data showed, down from 7.2 percent in April.

Indian benchmark indices, Sensex and Nifty, closed half a per cent lower on Wednesday due to profit-taking in banking, energy, and metal stocks amid weak global market conditions. The US stock indexes dipped, the European shares hit a two-month low as Chinese economic data and uncertainty around the US debt ceiling increased.

Adani may raise $3bn in a share sale to institutional buyers as it looks to make a comeback following a report of accounting fraud and stock price manipulation by a US short seller. Gautam Adani's group may raise up to $1bn through Adani Green Energy alone, with Adani Enterprises and Adani Transmission also approved to raise funds. The fundraising could be completed by the second quarter as the group seeks to fund expansion projects. Investors from Europe and the Middle East are said to have expressed strong interest.

Wells Fargo CEO, Charlie Scharf, announced that the bank is proactively managing its commercial real estate loan portfolio, but warns that the bank will see losses in the office loan space. The bank's focus on liquidity was also highlighted, following a sustained period of turbulence in March from the failure of three regional banks. While consumer spending and credit quality remain strong, Scharf stated credit had been tightened in its card business in areas where early signs of weakness started to show.

India's bond yields have fallen for the third consecutive month, with the biggest fall in over three years due to easing commodity prices and lower inflation rates. The benchmark 7.26% 2033 bond closed at 6.9874%, marking the first time it has dropped below 7% in 13 months. Retail inflation fell to 4.70% in April, leading economists to anticipate several upcoming readings to remain below the Reserve Bank of India's upper tolerance level. Despite US yields rising in May, India's bond yields continued to fall.

Patanjali Foods, formerly known as Ruchi Soya Industries, plans to dilute a 6% stake through an institutional share sale, to satisfy minimum public shareholding norms of 25%. Current public shareholding in Patanjali Foods stands at 19.18%. Baba Ramdev led the Ruchi Soya acquisition in 2019 through the corporate insolvency resolution process. The firm will target global investors for the QIP and Offer for Sale (OFS), with a view to raise funds, depending on market conditions and interest of investors. The company's shares are frozen by the NSE and BSE, which froze shares in 21 promoter-led entities, including Patanjali Ayurved and Acharya Balkrishna, for violating the minimum public shareholding norms.

Revenue for a sample of 2,863 companies grew by 13.4% year-on-year in the March quarter. After clocking 33.9% growth in the June 2022 quarter, top line growth has slowed down gradually in each of the quarters since then. Net profit rose by 6.5% in the March quarter. While it has improved since the September quarter when profit had fallen by 11.5%, it continued to remain muted. In the year-ago quarter, revenue and profit had grown by 21.7% and 37.2% respectively.

Padmaja Gangireddy, founder of Spandana Sphoorty Financial, plans to sell a part of her 14.5% share in the firm she left one-and-a-half years ago following a dispute with the majority shareholder Kedaara Capital. With an immediate aim to raise INR1bn ($13m), she intends to invest the sum in her new venture Keertana Finserv and secure a separate NBFC-MFI licence. Gangireddy has engaged an investment banker to strike a block deal to sell a part of the holding.

Welspun Corp posted a net profit of INR 240.08 crore for Q4 2021-22, down 8.9% YoY. Total income rose to INR 4,132.38 crore from INR 2,413.48 crore in the same quarter of the previous year, while expenses rose to INR 3,835.55 crore from INR 2,033.16 crore. Chairman of Welspun Group, B.K. Goenka, said the company's operational progress in new businesses will result in significant value creation for stakeholders in addition to growth in the existing portfolio. Welspun Corp is one of the world's largest manufacturers of large-diameter pipes, present in 50 countries.

Another round of earnings highlighted the pinch of higher prices being felt by corporate America.

The government will offload about 9.24 crore shares, which represents about 1.5% stake through the OFS, and in the case of oversubscription, an additional 1.5% stake will be under sale.

Financial services firm Aditya Birla Capital's stock has since bounced back after finding support at its 50-day moving average, the stock price is now consolidating. Traders with a high appetite for risk can purchase the stock, according to experts, with a possible short-term target of Rs 200.

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A month ago, the Securities and Exchange Board of India had banned the brokerage from the securities market for misappropriating clients' funds. The company was declared a defaulter and expelled by the stock exchanges in November.

International equity mutual funds offer currency depreciation benefits and growth in different economies and sectors, suitable for aggressive investors with a long investment horizon. Economic Times suggested five funds suitable for investors with appetite for taking higher risk and tolerance for enduring market volatility, which have given inflation beating returns over 3-5 years. The funds are DSP World Mining Fund, Invesco India-Invesco Global Equity Income FoF, Motilal Oswal Nasdaq 100 FOF, Aditya Birla Sun Life Commodity Equities Fund, and ICICI Prudential US Bluechip Equity Fund.

He will be succeeded by K. Krithivasan, currently the global head of BFSI Business Group at TCS

Aptech's shares, which have risen 142% in the last year and 65% this year alone, will trade ex-dividend tomorrow after the announcement of the approval of an interim dividend of INR6 per share. However, the payment of the dividend is subject to the annual general meeting's approval. The company has also proposed a 2:5 bonus issue to existing shareholders. Aptech, a provider of computer training and multimedia services, registered a net profit of INR33 crore in Q1, up 43% YoY, while revenues during the quarter jumped to INR137 crore from INR38 crore.

Analysts predict that the Indian stock market will experience a consolidation phase, with the Nifty50 expected to find support at the previous swing high of 18,459, and resistance at the 18,650-18,730 levels. A further correction is likely if the support fails to hold. The trend is expected to remain sideways to positive, and a decisive close above 18,600 is needed to drive a further uptrend. If the index falls below 18,500, it may trigger additional selling pressure, according to experts.