The London Metal Exchange has approved Adani Copper for delivery against its contracts, enabling warrant issuance from July 10. Produced by Adani Enterprises’ Kutch Copper unit in Gujarat, the facility has 500,000-tonne capacity. The move may boost India’s copper self-reliance and reduce import dependence amid steady domestic demand.
Manipal Health Enterprises, with the support of Singapore's Temasek, has successfully obtained approval from SEBI for its initial public offering, set to take place in late July or early August. This ambitious hospital chain is targeting one of the largest IPOs in India's healthcare landscape, aiming to raise as much as $1.2 billion, despite the current cautious market filled with geopolitical uncertainties and heavy foreign sell-offs.
The Securities and Exchange Board of India (Sebi) has granted approval for the Initial Public Offerings of fintech unicorn Moneyview and Chandan Steel. Moneyview strives to raise Rs 1,500 crore through a combination of fresh issues and offer for sale, aiming to enhance its financial services and loan disbursement operations. This milestone showcases a vibrant uptick in India's IPO landscape, with Sebi's approval being a vital step for both entities.
Godrej Consumer anticipates a robust first quarter, projecting high-teen consolidated revenue growth driven by solid underlying volume increases. The company implemented price adjustments to counter elevated input costs, with margins expected to improve progressively as commodity prices ease. Key international markets, including Indonesia and the GUAM region, demonstrated strong performance, contributing to the positive outlook and suggesting the company is on track to surpass its full-year targets.
Dabur India anticipates a significant boost in its first-quarter profit, driven by strategic price hikes that effectively countered rising inflation and packaging costs. The company noted resilient consumer sentiment despite global challenges, with sequential improvements in business performance. Strong double-digit growth is projected across key international markets like Egypt and Turkey, alongside robust expansion in India's rural demand and emerging sales channels.
SEBI has revised rules for handling unpaid client securities, introducing auto-pledges in clients' demat accounts, stricter timelines, daily pledge reviews and investor safeguards. The changes aim to align with direct payouts, improve operational efficiency and strengthen investor protection across stock broking.
UAE stock exchanges enjoyed a remarkable jump on Friday, paralleling an upswing in global indices after a lackluster U.S. jobs report eased anxiety over Federal Reserve interest rate hikes. Dubai's index surged 1.1%, primarily driven by the strength of its financial and industrial sectors, whereas Abu Dhabi's benchmark climbed 0.9%. This bullish sentiment is rooted in anticipated shifts in U.S.
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