Daily Archives: Monday August 14th, 2017

Reliance General Insurance prepaid to bring IPO soon

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Reliance General Insurance is preparing to launch an IPO soon. According to the news, Reliance General Insurance has applied for an IPO in Insurance Regulator IRDA. The company is planning to launch an IPO between October to November.

The IPO can be approved by SEBI on August. After initial approval, the company can file DRHP in September. Reliance General Insurance is planning to sell up to 25 per cent stake through the IPO, through which the company can raise between 1500 and 2000 crores.

Close to nifty 9800

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The first business day of the week has seen business growth with good growth in domestic markets. The Sensex and the Nifty gained 1 percent. In the bullish environment, the Nifty managed to reach 9818.3, while the Sense had knocked down 31526.4. Finally, the Nifty closed close to 9800, while the Sensex closed around 31450.

Mid-cap and smallcap stocks have seen strong purchases. The BSE mid-cap index has closed 2.5 percent. Nifty mid-cap 100 index has gained 2.8 percent. BSE’s smallcap index closed up 2.5 percent.

Metals, pharma, auto, realty, consumer durables, capital goods, power and oil and gas stocks have seen buying. Nifty’s Metal Index has gained 3.4 per cent, Pharma Index has 2.8 per cent and Auto Index has gained 1.4 per cent. BSE Realty Index has 6 per cent, Consumer Durables Index has 2.5 per cent, Capital Goods Index 2.1 per cent, Power Index 2.5 per cent and Oil and Gas index 1.3 per cent. Selling in IT stocks is dominant.

The BSE 30-share index Sensex has climbed 235.4 points, or 0.75 per cent, to 31,449 levels. On the other hand, NSE’s 50-share index Nifty closed at 83.4 points, which is 0.9 percent higher at 9,794 level. Bank Nifty closed 0.5 percent higher at 24,116.

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