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Taurian MPS, a crushing and screening equipment manufacturer, launches its Rs 42 crore IPO today, aiming to list on the NSE SME platform on September 16. The IPO consists of a fresh issue of 24.87 lakh shares, with proceeds allocated for machinery, R&D, working capital, and general corporate purposes. While revenue surged, profit after tax slipped due to rising expenses.
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David Kennedy, who has been with the PC maker for 27 years, will serve in the interim role. He is currently senior vice president of Global Business Operations, Finance.
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Jane Street Group is appealing a SEBI order accusing them of manipulative practices in India's derivatives market. The firm claims SEBI is withholding crucial documents needed for their defense, seeking a halt to regulatory action. The case has significant implications for global quantitative firms operating in India, as the court will consider whether SEBI is obstructing Jane Street's defense.
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Asian stocks experienced gains on Tuesday, mirroring Wall Street's positive sentiment fueled by anticipation of Federal Reserve rate cuts. Japan and South Korea saw morning trading increases, while Australia's equities dipped. This follows increased expectations of US rate cuts, boosting stocks near record highs.
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Analysts believe Jaiprakash Associates' businesses lack synergy with Vedanta, potentially diverting focus from core operations. Vedanta's acquisition of the debt-laden firm for 17,000 crore has been met with shareholder skepticism, as Vedanta shares underperformed. The deal raises concerns about deleveraging efforts amidst a planned demerger, potentially restricting Vedanta's share re-rating.
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