DSIJ Mindshare

The mutual fund behemoth IPO is on the way to become the most successful Initial Public Offering of 2018. At 16:00 hours on Friday, with only one hours remaining for the lose of the offer, it was subscribed 82.71 times.

Mahindra & Mahindra Financial Services posted strong quarterly performance in Q1FY19. The net interest income for the quarter rose by 45 per cent yoy to Rs. 1,077 crore in Q1FY19 vs Rs. 742 crore in Q1FY18. The interest income for the quarter rose by 28.6 per cent yoy.

When the benchmark indices along with few sectoral indices are on the gaining spree and hitting all-time highs, Nifty Energy and Nifty Private Bank were not an exception to it. Nifty Energy index hit all-time high at 14,737 for the first time after January 23, 2018 and Nifty Private Bank hit its peak at 15,542 for the first time after January 29.

The Board of Director of IFB Industries has approved the proposed acquisition of Ramsons Garment Finishing Equipment Pvt. Ltd and Ramsons Udhyog Pvt. Ltd on a slump sale basis. The said acquisition is worth Rs. 35 crores.

Local equity benchmarks continued to show a positive trend in the morning session, with Sensex and Nifty gaining more than 300 and 70 points, respectively. ITC, SBI, and Bharti Airtel were the top gainers, while Yes Bank, Adani Ports & SEZ, Power Grid and ONGC dipped.