Airfloa Rail Technology's SME IPO will launched today. The IPO sees significant investor demand. The company plans to raise approximately Rs 91 crore through a fresh equity sale. The IPO will remain open until September 15. Airfloa manufactures components for Indian Railways and the aerospace and defence sectors.
Global auto brands are now looking at Chinese technology for electric vehicles. Audi already built an EV using Chinese tech. Toyota and Volkswagen also have similar plans. Renault and Ford may develop global models using Chinese platforms. Chinese firms get revenue and global firms get technology. This helps them launch EVs faster amid a price war.
Asian equities displayed mixed performance following Wall Street's rally, fueled by hopes of Federal Reserve rate cuts after a drop in producer prices. US futures saw slight gains as the S&P 500 reached a new record.
IT stocks surged following positive comments from Donald Trump regarding US-India trade negotiations, easing concerns about potential tariffs. Optimism surrounding a possible US Federal Reserve rate cut and Infosys' share buyback further fueled the rally. Investors are anticipating more buybacks from other IT companies, contributing to the sector's positive momentum.
Indian government bonds are poised for a resurgence, with demand expected to pick up from October. Analysts anticipate that benign inflation, resilient fiscal footing, and potential RBI action to address market dislocations will revive demand. Experts suggest that strategic policy interventions and upcoming key events could further soften yields on long bonds.
Oracle shares saw a significant surge. This happened after a strong forecast for its cloud sector. Larry Ellison's wealth increased substantially. He briefly surpassed Elon Musk as the world's richest person. OpenAI plans a large purchase of Oracle's computing power. Oracle is becoming a major player in AI cloud computing. It competes with Microsoft and Google.
Several prominent saree retailers from South India, including RSB Retail, Marri Retail, Pothys, and Nalli Silk Sarees, are preparing to launch IPOs in the next 6-8 months, aiming to raise approximately 20,000 crore.
Equity mutual funds experienced a 21% drop in inflows in August, totaling 33,430 crore, due to weaker retail investor interest and fewer new scheme launches. While SIP inflows remained relatively stable, debt funds saw outflows of 7,980 crore, primarily from liquid schemes. Sectoral funds witnessed the most significant decline, while flexicap funds remained popular.
Chicago has violated the Americans with Disabilities Act by failing to keep sidewalks, crosswalks and curb ramps accessible to people with disabilities, a lawsuit filed against the city alleges.
