Today’s market highlights
🚀 Vishnu Prakash R Punglia’s Grand Debut: Will it Soar High? 🚀
Welcome to the buzz of the day! Vishnu Prakash R Punglia (VPRPL), an infrastructure powerhouse, is all set to make its grand entrance into the stock market on September 5th. The excitement is palpable as experts anticipate a dazzling debut with a jaw-dropping 50 percent or more premium over the issue price of just Rs 99 per share.
📈 What’s Driving the Hype?
The frenzy is backed by a multitude of factors:
- 🌟 Robust IPO Subscription: The company’s recent IPO was nothing short of a blockbuster, boasting an astonishing 87.82 times subscription rate. Investors from all walks of life showed tremendous enthusiasm.
- 🏗️ Government Infrastructure Focus: With the government’s increased emphasis on infrastructure development, VPRPL is poised to benefit from this favorable environment.
- 💼 Strong Order Book: VPRPL’s order book is robust, promising a stable revenue stream in the foreseeable future.
- 💰 Reasonable Valuations: Investors are finding VPRPL’s valuations quite appealing, adding to the anticipation.
According to Prashanth Tapse, a research analyst and senior VP research at Mehta Equities, “Considering the strong demand across all investor categories, we expect a listing gain of 50 percent or more from its issue price of Rs 99 per share.”
🌐 Big Tech Bracing for EU’s Antitrust Storm 🌐
In other news, Big Tech giants like Google, Apple, Amazon, and Meta are gearing up for the European Union’s most significant crackdown on anti-competitive practices in the digital realm. The Digital Markets Act (DMA), set to take effect soon, aims to keep tech giants in check, preventing them from stifling emerging markets.
This legislation will outlaw practices like favoring their own services, merging personal data across platforms, using third-party data to compete, and obligate them to allow users to download apps from competitors.
💰 DLF Aims High:
DLF, the real estate titan, is all set to rake in a whopping Rs 400 crore from the launch of 92 luxurious independent floors in Gurgaon. These opulent spaces, ranging from 2400 to 3100 sq ft, have a price range of Rs 4 to Rs 5 crore each.
🏍️ Hero MotoCorp’s Electrifying Investment:
Hero MotoCorp is investing Rs 550 crore in Ather Energy, an electric two-wheeler manufacturer. This move comes as Ather Energy gears up for a funding round, setting the stage for a potential IPO in 2024.
📈 Zerodha’s Mutual Fund Foray:
Zerodha Asset Management Ltd., a budding player in the mutual fund landscape, is gearing up to launch its first schemes. With SEBI’s approval in hand, they are preparing to introduce Zerodha Tax Saver (ELSS) Nifty Large Midcap 250 Index Fund and Zerodha Nifty Large Midcap 250 Index Fund (ZN250). The ELSS scheme offers tax benefits under Section 80C.
💻 SEBI’s Digital Revolution:
The Securities and Exchange Board of India (SEBI) is taking the digital route to credit funds to the Sebi Investor Protection and Education Fund (IPEF). Going forward, all contributions to the SEBI IPEF must be made exclusively through a designated online link provided on the regulator’s website.
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