The Indian equity markets witnessed profit booking on Thursday after a huge surge over the last two trading sessions. A 300-point drop after hitting an intraday high of 24,503.35 may not have pleased the Nifty bulls, who are now positioning themselves for the outcome from the US Federal Reserve's policy decision. The Nifty 50 concluded near 24,200, shedding over 1.10% from its last closure.
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Neelam Linens and Garments (India) is set to open its Rs 13-crore initial public offering for subscription on November 8. The price band has been fixed at Rs 20-24 per share. The book-built issue consists of fresh issue component of 54.18 lakh shares with no offer-for-sale portion. Thus, the entire IPO funds will go to the company.
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Chinese electric vehicle firms are expected to maintain their competitive edge in the EU market despite new tariffs, thanks to their production and pricing advantages, according to industry officials. Chinese carmakers' expertise in EV manufacturing can be replicated in other markets, and they plan to absorb or address the tariff challenges through partnerships and global supply chain integration.
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