Draft Red Herring Prospectus (DRHP) filing continued to be robust in October, signifying the optimism in the initial public offer (IPO) market despite the recent turbulence in equities. In October, 17 companies filed their offer documents for IPOs. The rush in filings has made August-October 2023 the best three-month period for DRHP filings since July-September 2021. Over 13 and 19 […]

Latest UK labor market data underscored the softening situation with the number of people in jobs continuing to fall, official data revealed on Tuesday. The unemployment rate was 4.2 percent in the three months to August, the Office for National Statistics reported based on the new experimental data. The rate was 4.3 percent in the preceding period, which was derived […]

‘Midcap and smallcap indices are trading in the expensive zone.’ Valuations for the benchmark Nifty are in the comfort zone but small and midcaps are expensive, says Vetri Subramaniam, chief investment officer, UTI Asset Management Company (AMC). In a telephonic interview with Abhishek Kumar/Business Standard, Subramaniam says pharmaceutical and healthcare sectors are reasonably valued. And, their long-term structural growth prospects […]

A complete ban on firecrackers in Delhi until January 1, the government’s refusal to grant licences for sales in Karnataka, and restrictions in the Noida region are adversely affecting the business of manufacturers in Tamil Nadu’s Sivakasi, which produces over 90 per cent of India’s fireworks. According to industry players, demand has decreased by 20 per cent compared to last […]

After ending Wednesday’s session sharply lower, stocks saw significant volatility over the course of the trading day on Thursday. The major averages swung back and forth across the unchanged line before ending the day firmly in the red. The major averages fell to new lows going into the close of trading. The Dow fell 250.91 points or 0.8 percent to […]

The Labor Department released a report on Thursday showing first-time claims for unemployment benefits in the U.S. unexpectedly declined to a nearly nine-month low in the week ended October 14th. The report said initial jobless claims fell to 198,000, a decrease of 13,000 from the previous week’s revised level of 211,000. Economists had expected jobless claims to inch up to […]

India’s largest information technology (IT) services company, Tata Consultancy Services (TCS), has received a notice from the Maharashtra government’s Ministry of Labour & Employment regarding the company’s delay in onboarding lateral recruits. The complaint was filed by the Pune-based IT employees’ union, Nascent Information Technology Employees Senate (NITES), in July 2023. While the exact number of lateral employees affected by […]

‘Baap of Chart’ gave trade recommendations in the garb of education courses, mislead clients, alleges Sebi. The Securities and Exchange Board of India (Sebi) on Wednesday barred financial influencer Mohammad Nasiruddin Ansari, operating with the handle ‘Baap of Chart’ and known as Md Nasir on social media, from accessing the securities market. Further, the market regulator has asked him to disgorge […]

European stocks look set to extend losses from the previous session on Thursday as rallying oil prices and a rout in the bond markets clouded the outlook for interest rates and economic growth. Heightened geopolitical risks may also keep investors wary. The dollar firmed tracking a spike in Treasury yields after Fed Bank of New York President John Williams said […]