NATO leaders are convening in The Hague amidst internal disagreements over defense spending targets, with Spain rejecting the proposed 5% GDP commitment. Trump's criticism of low-spending members like Spain and Canada adds to the tension.
ACME Solar share price: ACME Solar has secured Rs 1,072 crore in refinancing for its 250 MW Rajasthan project, lowering its debt cost to 8.5%. The move is part of a broader strategy to optimise capital structure, with analysts maintaining a Strong Buy rating on the stock.
In the NSE list of stocks with a market cap of over Rs 20,000 crore, 10 stocks' close prices crossed above their 200 DMA (Daily Moving Averages) on June 23, according to stockedge.com's technical scan data. The 200-day DMA is used as a key indicator by traders for determining the overall trend in a particular stock. As long as the stock is priced above the 200-day SMA on the daily time frame, it is generally considered to be an overall uptrend. Take a look:
Ellenbarrie Industrial Gases, a Kolkata-based industrial gas manufacturer, is launching its Rs 852.5 crore IPO on June 24, with a price band of Rs 380-400 per share. The IPO includes a fresh issue and an offer for sale, aiming to repay debt and expand capacity. SBI Securities recommends subscribing, citing the company's strong financials and strategic growth plans.
Global shares surged and the dollar weakened following reports of a ceasefire agreement between Iran and Israel, brokered by U.S. President Trump. Oil prices plummeted as concerns over supply disruptions eased, boosting risk assets. The yen and euro gained due to their reliance on oil imports, while U.S. Treasury yields rose slightly amid shifting expectations for Federal Reserve rate cuts.
Donald Trump facilitated a ceasefire between Israel and Iran. This happened after discussions with Benjamin Netanyahu. Trump's team contacted Iranian officials. Israel agreed to the ceasefire if Iran stopped attacks. Iran indicated it would follow the agreement. JD Vance, Marco Rubio, and Steve Witkoff were involved in the US contact with Iran.
Kalpataru, a Mumbai-based real estate developer, is set to launch an IPO to raise 1,590 crore for debt repayment, diluting promoter stake to 81.3%. The company's revenue and margins have improved, with reduced unsold inventory and shorter overhang days. While higher costs previously impacted the bottom line, Kalpataru has started reporting profits in the recent nine-month period ending December 2024.
Several companies including Kalpataru Limited, Ellenbarrie Industrial Gases, HDB Financial Services, and Sambhv Steel Tubes are set to launch their IPOs this week. Analysts are suggesting investors consider Ellenbarrie and Sambhv for longer-term gains. HDB Financial is viewed as a long-term play, but its grey market premium has decreased. Experts advise caution on Kalpataru due to debt levels.
The government is exploring ways to ease Vodafone Idea's financial burden. Options include extending the repayment period for AGR dues and changing the interest calculation method. The goal is to prevent the telecom operator from collapsing. The government is the largest shareholder and wants to protect its investment. Vi faces significant payment obligations in the coming years.
Accenture's lowered revenue growth guidance triggered a sell-off in Indian IT stocks, with the Nifty IT index falling 1.5%. Investors are concerned about subdued discretionary IT spending and delayed recovery expectations. While Gen AI bookings showed growth, the momentum slowed, impacting future revenue projections. Interest rate cuts in the US could provide a positive trigger.
