The shares for the Malpani Pipes and Fittings IPO are expected to be allotted on Monday, February 3, 2025, and will be credited to the demat accounts of the allottees on Tuesday, February 4, 2025. The IPO allocation includes 50% of the net issue for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for the Non-Institutional Investor (NII) segment.
A significant protest march from Gozo to KN Shah, led by the Awami Tehreek (AT), opposed corporate farming and new canal projects in Sindh. Demonstrators called for local lands to be allocated to landless farmers and condemned government actions that threaten Sindh's autonomy and culture. Speakers urged halting the canal constructions to protect local livelihoods and heritage.
The combined market valuation of four of the top 10 valued firms declined by Rs 1,25,397.45 crore last week, with Reliance Industries taking the biggest hit, in line with weak investors' sentiment at Dalal Street.
The exodus of FPIs from the Indian equity markets continues unabated, as they withdrew Rs 64,156 crore (USD 7.44 billion) this month so far on depreciation of the rupee, rise in the US bond yields and expectation of a tepid earning season.
India's real GDP growth is expected to slow to 6.4% in FY24-25, down from 8.2% in FY23-24, due to weaker urban demand and reduced investment activity. The central government is likely to fall short of its capital expenditure target by around Rs 1.4 trillion this fiscal year, leading to a projected budget deficit of 4.8% in FY25, which is slightly below the budgeted 4.9%.
US President Donald Trump announced plans to speak with Russian President Vladimir Putin to help resolve the Ukraine conflict. Trump mentioned he has had multiple discussions with Ukrainian President Volodymyr Zelensky. He also suggested that high oil prices, allowed by Biden, contributed to the war. Potential visits to Saudi Arabia or the UK were also mentioned.
