Stock Market LIVE Updates: GIFT Nifty suggests a positive start; US, Asian markets gain

Reliance Jio Infocomm Ltd, the telecom arm of Reliance Industries Ltd (RIL), recorded a 13 percent increase in fiscal fourth-quarter profit.

The company posted a net profit of Rs 5,337 crore in the three months ended 31 March compared to Rs 4,716 crore in the year earlier period.

The telco’s net profit in the third quarter stood at Rs 5,208 crore.

Revenue increased 11 percent to Rs 25,959 crore in the quarter ended 31 March from Rs 23,394 crore in the year-ago period. Read More

– Spot gold down 2.6% to $2,328 per ounce, on track to mark biggest intra-day fall in one year

– Earlier, gold had hit record high of $2,431.29 on April 12 due to strong central bank buying

– Derma co brand achieved milestone of Rs 500 crore in ARR is commendable

– Like management focus and agility where growth in prioritised over profitability

– Active ingredient based products seeing strong traction in India

Ramdevbaba Solvent will make its debut on the NSE Emerge on April 23. The issue price is Rs 85 per share. Its equity shares will be available in trade-for-trade surveillance segment.

The trading in equity shares of Grill Splendour Services will commence on the NSE Emerge with effect from April 23. The issue price is Rs 120 per share. Its equity shares will be available in trade-for-trade surveillance segment.

-Company’s Q4 earnings was slight beat to estimates

-Energy EBITDA stood out while retail was lower

-Net debt & capex intensity declined to lowest in 2 years with FCF of USD 1.3 billion in FY24

-See multiple catalysts for re-rating across verticals as company exits 4th investment cycle

Heating equipment maker JNK India has raised Rs 194.84 crore from institutional investors on April 22, a day before the IPO opening.

JNK India said in its filing to exchanges it “…has finalised allocation of 46,94,989 equity shares to anchor investors at Rs 415 per equity share,” .

Institutional investors including Goldman Sachs, Allianz Global Investors Fund, Natixis International Funds, Kotak Mutual Fund, HDFC Mutual Fund, Nippon Life India, Mirae, DSP Mutual Fund, Edelweiss Trusteeship, LIC Mutual Fund, Bajaj Allianz Life Insurance Company and Aditya Birla Sun Life Insurance Company invested in the company via anchor book. Read More

Vodafone Idea’s follow-on public offer (FPO) was subscribed 6.36 times by April 22, the final day of bidding, with investors bidding for 8,011.8 crore equity shares, subscription data from exchanges showed.

The country’s third-largest telecom operator has offered 1,260 crore shares in the Rs 18,000-crore FPO, the largest such offering in the country. This move is part of a larger strategy to gather Rs 45,000 crore through a combination of debt and equity.

Qualified institutional buyers (QIBs) have taken the lead, subscribing 17.56 times the portion reserved for them. Non-institutional investors purchased 4.13 times their allotted quota of shares reserved. Retail investors picked 91 percent of their allotted quota of shares.