Asian shares slipped with Wall Street on Thursday, while a sharp fall in oil prices to a five-month low promised to further reduce inflationary pressures and helped boost the global bond market.The Nikkei is trading 1.3% lower while the Hang Seng index is trading 0.7% lower.US stocks ended dragged lower by energy stocks as oil prices slid.Here’s a table showing how US stocks performed on Wednesday:
Source: EquitymasterAt present, the BSE Sensex is trading 200 points lower and NSE Nifty is trading 60 points lower.Adani Ports and Asian Ports are among the top gainers today.ONGC and HUL on the other hand are among the top losers today.Broader markets are trading on positive note. The BSE Mid Cap index and the BSE Small Cap index is trading higher by 0.1%.Sectoral indices are trading mixed today, with stocks in power sector, oil & gas sector and realty sector witnessing most buying. Meanwhile stocks in banking sector and FMCG sector witness selling pressure.Shares of L&T Technology, Patanjali Foods hit their 52-week high today.The rupee is trading at Rs 83.37 against the US dollar.In commodity markets, gold prices are trading 0.2% lower at Rs 62,338 per 10 grams today.Meanwhile, silver prices are trading 0.5% lower at Rs 74,460 per 1 kg.
Warburg To Sell Stake in IDFC First BankAfter offloading 9.7 m shares of the company at Rs 2,766.47 apiece from Computer Age Management Services on 5 December 2023, US private equity giant Warburg Pincus is set to sell its stakes in Bharti Airtel and IDFC First Bank.Warburg Pincus is planning to sell a 1.3% stake in IDFC First Bank through its affiliate, Cloverdell Investment, via a block deal for US$ 100 million at Rs. 85.7 per share.Additionally, Warburg Pincus aims to raise US$ 211 million in telecom major Bharti Airtel through a block deal, offering 17.5 m shares at a floor price of Rs 1,005 per share.Currently, Cloverdell Investment holds a 2.7% stake in IDFC First Bank, and after the 1.3% stake sale, it will be left with a 1.4% holding.The private equity firm sold a 4.2% stake in IDFC First Bank for Rs 24.8 bn through block deals on 4 September 2023.At the same time, GQG Partners, backed by Rajiv Jain, acquired a 2.6% stake in IDFC First Bank for Rs 15.3 bn. Although shares of IDFC First Bank have gained 6.5% in the last five sessions since 30 November, the scrip has corrected by more than 3% since Warburg Pincus’s last sale on 1 September.These moves come after Warburg Pincus has been exiting several of its investments in India.The private equity firm has been investing in India since 1995 and has made significant investments in several Indian companies over the years.
DOMS Industries Sets IPO Price Band
DOMS Industries, the stationery and art products manufacturer, has fixed the price band at Rs 750-790 per share for its public issue opening next week. This would be the first IPO this month.The Rs 12 billion (bn) public offer will open for subscription on 13 December and close on 15th. Bidding for the anchor book will take place for a day on 12 December.The IPO is a mix of a fresh issuance of shares worth Rs 3.5 bn by the company and an offer-for-sale (OFS) of Rs 8.5 bn worth of shares by existing shareholders.Italy-based corporate promoter FILA- Fabbrica Italiana Lapised Affini SpA will sell Rs 8 bn shares in the OFS, while promoters Sanjay Mansukhlal Rajani and Ketan Mansukhlal Rajani will offload shares worth Rs 250 m each in the OFS.The offer includes a reservation of Rs 50 m worth of shares for employees of the company, who will get these shares at a discount of Rs 75 each to the final issue price.Doms, the second largest player in India’s branded stationery and art products market with a market share of 12% by value in FY23, will spend the net fresh issue proceeds for a new manufacturing facility to expand production capabilities for writing instruments, water colour pens, markers and highlighters.The Gujarat-based company that sells stationery and art products under its flagship brand DOMS said the bids can be made for a minimum of 18 equity shares and in multiples of 18 shares.Hence, retail investors can invest a minimum of Rs 14,220 for 18 shares (one lot ), and their maximum investment would be Rs 1,99,080 for 250 shares (14 lots) as they can not exceed their investment limit of Rs 200,000 in IPO.More By This Author:Sensex Today Ends at Record High, Gains 358 PointsSensex Today Hits Record High; Nifty Above 20,900Sensex Today Ends 431 Points Higher; Nifty Above 20,800