Northwest Indianas three casinos reported revenues of $72.3 million in November, which is a slight decrease from the previous years November, where revenues were $73.1 million, according to the Indiana Gaming Commissions monthly gaming report.
Senco Gold Limited raised Rs 459 crore through a Qualified Institutions Placement (QIP), issuing 40.8 lakh equity shares at Rs 1,125 per share. Major investors included funds managed by Tata AIA Life Insurance and ICICI Prudential Life, among others. The funds will support the company's expansion plans, including adding 18-20 stores annually.
Eleganz Interiors plans to go public. The company filed for an IPO with NSE Emerge. The IPO will consist of fresh shares. Eleganz aims to raise funds for debt repayment and working capital. The company provides interior fit-out solutions across India. Eleganz reported strong revenue and profit in recent quarters. The company is led by a green building advocate.
Foreign institutional investors (FIIs) returned to buying Indian equities in December, injecting Rs 22,765 crore and boosting market recovery after months of selling. This fueled a rally, especially in large-cap stocks, despite concerns about high valuations and a rising dollar. Positive political developments, recovering corporate stocks, and easing inflation further supported the market's upward trend.
The Nifty ended a volatile week with a modest gain, closing above the crucial 24700 resistance level. This positive move hinges on maintaining this level, with potential for further gains if held. Sectorally, Bank, Financial Services, Private Banks, and IT are expected to outperform, while PSU Bank, Realty, and Metal show improving relative strength.
Smallcap stocks rallied this week, with some hitting 52-week highs. Easing food inflation and rising US spending expectations boosted sectors like FMCG and IT. Centum Electronics led the gainers with a 36.8% surge, followed by Sunflag Iron and Steel at 27%.
Investors should watch for key dates for corporate actions. PC Jeweller and Shish Industries have stock splits. Linc Ltd has a stock split and bonus share issuance. Sky Gold and Rajeshwari Cans announced bonus shares. Multiple companies declared dividends, including Styrenix, Bambino, Sacheta, and Steel City. Ensure your shares are in your demat account by the record date to benefit.
Indian equity markets experienced volatility, ending with modest gains driven by easing inflation and IT sector optimism. Expert analysis suggests a consolidation phase, with potential for further upside but also resistance at higher levels. FIIs show recent selling, while specific sectors like IT and FMCG offer potential opportunities.
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