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<ul><li>Akme Fintrade is expected to announce its share <keyword id="19911164" type="General" weightage="20" keywordseo="allotment-status" source="keywords">allotment status</keyword> on Monday, June 24.</li><li>The shares of Akme Fintrade were subscribed 53.59 times.</li><li>The shares are expected to be listed on the stock exchanges on June 26.</li></ul> Udaipur-based Akme Fintrade, a non-banking financial company which provides lending solutions to the rural and semi-urban populations is expected to announce the allotment status of its initial public offering (IPO) on Monday, June 24. The <keyword id="16551905" type="General" weightage="20" keywordseo="Akme-Fintrade-IPO" source="Orion">Akme Fintrade IPO</keyword> opened on June 19 and closed on June 21. The price band for the IPO was ₹114 to ₹120 per share. <cmsannotation type="cmsannotation" annotationid="Robust subscription" comment="subhead" text="Robust subscription">Robust subscription</cmsannotation> On the last day, the Akme Fintrade IPO was subscribed 53,59 times, receiving bids for 42.15 crore equity shares against 78.65 lakh shares on offer. While the qualified institutional buyer portion was subscribed 28.12 times, the non-institutional investors portion was subscribed 129.18 times. The retail portion also witnessed excellent participation and was subscribed 43.02 times. The employee portion was subscribed 5.28 times. <cmsannotation type="cmsannotation" annotationid="Grey market premium" comment="subhead" text="Grey market premium">Grey market premium</cmsannotation> The shares of Akme Fintrade are currently commanding a grey market premium (<keyword id="19931032" type="General" weightage="20" keywordseo="GMP" source="keywords">GMP</keyword>) of ₹45 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="Here’s how to check the IPO’s allotment status" comment="subhead" text="Here’s how to check the IPO’s allotment status">Here’s how to check the IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the <keyword id="22157622" type="General" weightage="20" keywordseo="Akme-Fintrade-IPO-allotment" source="Orion">Akme Fintrade IPO allotment</keyword> status, visit the registrar’s website<a href="https://ipo.bigshareonline.com/IPO_Status.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Akme Fintrade’.</li><li>Now, select PAN, application number, or beneficiary ID and provide the details.</li><li>Now, enter the captcha.</li><li>Click on “Search”.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Akme Fintrade IPO allotment status on the BSE and NSE websites. To check the allotment status on BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Akme Fintrade’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="Akme Fintrade IPO listing date" comment="subhead" text="Akme Fintrade IPO listing date">Akme Fintrade IPO <keyword id="22157623" type="General" weightage="20" keywordseo="listing-date" source="keywords">listing date</keyword></cmsannotation> The shares of Akme Fintrade will be listed on the stock exchanges on June 26. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-add-nearly-3-5-million-subscribers-in-april-2024/articleshow/111129665.cms">Reliance Jio and Airtel add nearly 3.5 million subscribers in April 2024</a>

Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more

Akme Fintrade IPO – Price band to risk factors, all you need to know

IPOs of <keyword id="22105289" type="General" weightage="20" keywordseo="Aasan-Loans" source="keywords">Aasan Loans</keyword> (<keyword id="22105288" type="General" weightage="20" keywordseo="Akme-Fintrade" source="keywords">Akme Fintrade</keyword> India) and <keyword id="22105291" type="General" weightage="20" keywordseo="DEE-Piping-Systems" source="keywords" meta.keywordsubtype="org" meta.entityname="DEE Piping Systems" meta.hostid="261" meta.entityid="DEE Piping Systems">DEE Piping Systems</keyword> (DEE Development Engineers Limited) are set to hit the D-street for subscription today, and will close on Friday, 21st June. With a price band of Rs 114-Rs 120, Aasan Loans, which offers loans to rural and semi-urban populations, aims to raise 132 crores via a fresh issue of 1.1 crore shares. With its niche in vehicle and business financing, experts are advising staying away from the <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>, given how competitive the Indian NBFC space is. The company also harbours significant NPAs, and has had some compliance issues in the past as well. The other mainboard IPO, <keyword id="22105286" type="General" weightage="100" keywordseo="DEE-Piping" source="keywords">DEE Piping</keyword> Systems, intends to raise Rs 418 crore via combination of fresh issue and offer for sale (OFS). While Rs 325 crores will be raised via fresh issue, Rs 93.01 crores will be raised via OFS. With its price band set between Rs 193-Rs 203, DEE specialises in providing piping solutions to oil, gas, chemicals and power industries. <cmsannotation type="cmsannotation" annotationid="SME IPO dashboard" comment="subhead" text="SME IPO dashboard">SME IPO dashboard</cmsannotation> While these are mainboard IPOs, 3 small and medium enterprises (SME), namely <keyword id="22105292" type="General" weightage="20" keywordseo="Falcon-Technoprojects-India" source="Orion">Falcon Technoprojects India</keyword>, <keyword id="22071172" type="General" weightage="20" keywordseo="Durlax-Top-Surface" source="Orion">Durlax Top Surface</keyword> and <keyword id="22105290" type="General" weightage="20" keywordseo="Gem-Enviro" source="keywords">GEM Enviro</keyword> are also opening for subscription today. The company, which aims to raise Rs 13.69 crore, offers mechanical and plumbing services, which includes installing air conditioners, water supply and lighting systems. Its share price has been set at Rs 92. The other company on the SME dashboard is Durlax Top Surface, which has 2 brands, namely LUXOR and ASPIRON. The company manufactures solid surface materials, which include UV acrylic solid sheets. The company wants to raise Rs 40.80 crore, out of which Rs 28.56 crore will be raised via fresh issue, and the remaining will be accumulated via offer for sale. The stock’s price band is set between Rs 65-68. Gem Enviro, which specialises in plastic waste management and recycling, aims to raise Rs 44.93 crore via this IPO. Stock analyst Dilip Dawda recommends investing in this IPO for medium to long-term gains, given that the company has paid dividend over the past 2 years <cmsannotation type="cmsannotation" annotationid="IPOs closing today" comment="subhead" text="IPOs closing today">IPOs closing today</cmsannotation> IPOs of <keyword id="22105287" type="General" weightage="20" keywordseo="GPES-Solar" source="keywords" meta.keywordsubtype="org" meta.entityname="GPES Solar" meta.hostid="261" meta.entityid="GPES Solar">GPES Solar</keyword>, which opened on 14th June, and United Cotfab, which opened on 13th June, are closing today. GPES Solar, which is in the business of solar inverters and panels, aims to raise Rs 31 crore. Its IPO was oversubscribed around 408.3 times. Retail investors oversubscribed to the share by around 519.57 times. However, Dawda recommends subscription to this IPO only if you are a market veteran and have surplus, long-term funds to park. The IPO of United Cotfab, which manufactures open-end cotton yarn, is also closing today. It was oversubscribed by 48.27 times in the retail investor category. While the company intends to raise Rs 36.29 crore entirely via fresh issue, experts have raised concerns about the company’s profitability and sustainability.

IPO Overview : DEE Piping, Akme Fintrade, GPES Solar

<ul><li>DEE Development Engineers is expected to announce its share <keyword id="19911164" type="General" weightage="20" keywordseo="allotment-status" source="keywords">allotment status</keyword> on Monday, June 24.</li><li>The shares of DEE Development Engineers were subscribed 99.56 times.</li><li>The shares are expected to be listed on the stock exchanges on June 18.</li></ul> Haryana-based DEE Development Engineers, which provides specialised process piping solutions for oil and gas, chemicals, power and other process industries is expected to announce the allotment status of its initial public offering (IPO) on Monday, June 24. The <keyword id="22158952" type="General" weightage="20" keywordseo="DEE-Development-Engineers-IPO" source="keywords">DEE Development Engineers IPO</keyword> opened on June 19 and closed on June 21. The price band for the IPO was ₹193 to ₹203 per share. <cmsannotation type="cmsannotation" annotationid="DEE Development Engineers IPO subscription" comment="subhead" text="DEE Development Engineers IPO subscription">DEE Development Engineers IPO subscription</cmsannotation> On its last day, the DEE Development Engineers IPO was subscribed 99.56 times, receiving bids for 148.79 crore equity shares against 1.49 crore shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 201.91 times, the non-institutional investor's portion was subscribed 144 times. The retail portion witnessed decent participation and was subscribed 23.42 times. The employee portion was subscribed 44.73 times. <cmsannotation type="cmsannotation" annotationid="DEE Development Engineers IPO Grey market premium" comment="subhead" text="DEE Development Engineers IPO Grey market premium">DEE Development Engineers IPO Grey market premium</cmsannotation> The shares of DEE Development Engineers are currently commanding a grey market premium (GMP) of ₹95 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. <cmsannotation type="cmsannotation" annotationid="How to check the DEE Development Engineers IPO’s allotment status" comment="subhead" text="How to check the DEE Development Engineers IPO’s allotment status">How to check the DEE Development Engineers IPO’s allotment status</cmsannotation> You can check the allotment status on the registrar’s website. <ul><li>To check the DEE Development Engineers IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘DEE Development Engineers’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on submit. </li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the DEE Development Engineers IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘DEE Development Engineers’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <cmsannotation type="cmsannotation" annotationid="DEE Development Engineers IPO listing date" comment="subhead" text="DEE Development Engineers IPO listing date">DEE Development Engineers IPO <keyword id="22157623" type="General" weightage="20" keywordseo="listing-date" source="keywords">listing date</keyword></cmsannotation> The shares of DEE Development Engineers will be listed on the stock exchanges on June 26. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

DEE Development Engineers IPO allotment – How to check allotment, IPO GMP, listing date and more

<keyword id="20239723" type="General" weightage="20" keywordseo="Quant-Mutual-Fund" source="keywords">Quant Mutual Fund</keyword> has said it is being enquired by markets watchdog <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">Sebi</keyword> and it is fully committed to cooperating with the regulator throughout any review. The statement came after media reported that Securities and Exchange Board of India (Sebi) is investigating Quant Mutual Fund over alleged front- running activities. As per the reports, the regulator has conducted search and seizure operations at Quant Mutual Fund's office in Mumbai and Hyderabad. <keyword id="21441968" type="General" weightage="20" keywordseo="front-running" source="keywords">Front-running</keyword> refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information is made available to its clients. In a note to investors late night on Sunday, the fund house said, "recently, Quant Mutual Fund has received <keyword id="20470276" type="General" weightage="20" keywordseo="inquiries" source="keywords">inquiries</keyword> from Sebi, and we want to address any concerns you may have regarding this matter.". "We want to assure you that Quant Mutual Fund is a regulated entity, and we are always fully committed to cooperating with the regulator throughout any review. We will provide all necessary support and continue to furnish data to Sebi on a regular and as-needed basis," the fund house said. Quant Mutual Fund is one of the fastest growing fund houses in the country with over 80 lakh folios and more than Rs 93,000 crore assets under management (AUM). "Our primary goal remains unchanged: to deliver superior risk-adjusted returns to all our valued investors. Your confidence in Quant Mutual Fund is of utmost importance to us, and we are dedicated to maintaining transparency and adherence to regulatory standards," it said. Quant Mutual Fund said that it remains committed to delivering superior risk-adjusted returns in the future too. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Quant Mutual Fund faces Sebi's inquiries; says fully committed to cooperate

<keyword id="20043943" type="General" weightage="20" keywordseo="SP" source="keywords">S&amp;P</keyword> Global Ratings on Monday retained <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19972825" type="General" weightage="20" keywordseo="GDP-growth" source="keywords">GDP growth</keyword> forecast for the current financial year at 6.8 per cent and said high <keyword id="19950650" type="General" weightage="20" keywordseo="interest-rates" source="keywords">interest rates</keyword> and lower fiscal spur would temper demand. In its economic outlook for Asia Pacific, S&amp;P Global Ratings said India's economic growth continues to surprise on the upside with the <keyword id="19931030" type="General" weightage="20" keywordseo="economy" source="keywords">economy</keyword> growing 8.2 per cent in fiscal year 2023-24. "We expect growth to moderate to 6.8 per cent this fiscal year, with high interest rates and lower fiscal spur tempering demand in the non-agricultural sectors," it said. For the fiscal years 2025-26 and 2026-27, S&amp;P projected growth rates of 6.9 per cent and 7 per cent, respectively. S&amp;P's estimates for FY'25 is lower than that of the Reserve Bank of India (RBI), which earlier this month projected the Indian economy to expand at 7.2 per cent in the current fiscal, on the back of improving rural demand and moderating inflation. While another rating agency Fitch estimates India's growth at 7.2 per cent in FY'25, the Asian Development Bank (ADB) estimates India's GDP to grow at 7 per cent. Moody's Ratings and Deloitte India estimates India's GDP to grow at 6.6 per cent in 2024-25 fiscal, while Morgan Stanley projects growth rate of 6.8 per cent. For China, S&amp;P raised its 2024 GDP growth forecast to 4.8 per cent, from 4.6 per cent but sees a sequential slowdown in the second quarter. The combination of subdued consumption and robust manufacturing investment will weigh on prices and profit margins, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

S&P retains India's FY'25 GDP growth estimate at 6.8%

The first session of the <keyword id="20970264" type="General" weightage="20" keywordseo="18th-Lok-Sabha" source="keywords">18th Lok Sabha</keyword>, beginning on Monday, will witness "Observance of silence," marking the solemn occasion of the first sitting of the Eighteenth <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword>. After this, parliament will hold the oath-taking ceremony of newly-elected Members of Parliament, including Prime Minister Narendra Modi. An official letter marking list of business for the day in parliament mentioned, "Observance of silence for a short while to mark the solemn occasion of the first sitting of the Eighteenth Lok Sabha," "Secretary-General to lay on the Table a list (Hindi and English versions), containing the names of Members elected to the Eighteenth Lok Sabha at the General Elections of 2024, submitted by the Election Commission of India," added the list of business. Further, the list mentioned "members to take the oath or make the affirmation, sign the Roll of Members and take their seats in the House." The first session is expected to be stormy as the opposition is likely to corner the BJP-led NDA government on the election of the Speaker on June 26, discussions regarding allegations of paper leaks in NEET-UG and UGC-NET, and row over the appointment of the pro-tem Speaker. President Droupadi Murmu will administer the oath to Bharatiya Janata Party lawmaker Bhartruhari Mahtab as the pro-tem Speaker of the Lok Sabha. Mahtab will then call upon Prime Minister Narendra Modi, the Leader of the Lok Sabha, to take oath as a member of the House. On June 26, the Lok Sabha Speaker will be elected. On June 27, President Droupadi Murmu is scheduled to address the joint sitting of both houses of Parliament. This is the first session of the 18th Lok Sabha after the general elections, which saw the National Democratic Alliance (NDA) secure 293 seats and the INDIA bloc win 234, with the Congress holding 100 of them. Meanwhile, the Newly Elected Congress MPs meeting is called at 10 am at the CPP office in Parliament today. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

First session of 18th Lok Sabha to begin today, new members to take oath

<keyword id="19983534" type="General" weightage="20" keywordseo="Hero-MotoCorp" source="keywords" meta.keywordsubtype="org" meta.entityname="Hero MotoCorp" meta.hostid="261" meta.entityid="Hero MotoCorp">Hero MotoCorp</keyword>, one of the leading <keyword id="22160307" type="General" weightage="20" keywordseo="two-wheeler-manufacturers" source="keywords">two-wheeler manufacturers</keyword> in the country, has announced a price increase for its <keyword id="20067449" type="General" weightage="20" keywordseo="motorcycles" source="keywords">motorcycles</keyword> and <keyword id="22160306" type="General" weightage="20" keywordseo="scooters" source="keywords">scooters</keyword> starting from July 1, 2024. This information was conveyed by the company in a filing to the exchange on Monday. "Hero <keyword id="20291118" type="General" weightage="20" keywordseo="motocorp" source="keywords">MotoCorp</keyword> will make an upward revision in the ex-showroom prices of select motorcycles and scooters, with effect from July 1, 2024," said the company. The price increase will be up to Rs 1,500 on various models, although the exact amount will differ depending on the specific model and market. "The price revision will be up to Rs. 1,500 and the exact quantum of increase will vary by specific model and market," the company clarified. This means that while some models might see a smaller increase, others could reach the maximum threshold of Rs 1,500. The company has attributed this price adjustment to the rising input costs associated with manufacturing. The company stated that the increase was necessary to mitigate some of these higher costs. "The revision has been necessitated to partially offset the impact of higher input costs," the company stated. The two-wheeler sales in India experienced a marginal decline in May as compared to the same period in the previous year. The major two-wheeler manufacturers of the country reported a decrease in sales numbers, reflecting a broader trend in the industry. In May 2024 Hero MotoCorp, sold 498,123 units, marking a decrease from the 519,474 units sold in May 2023. This decline was observed in both the scooter and motorcycle segments. Specifically, Hero MotoCorp's scooter sales fell to 26,937 units in May 2024, down from 30,138 units in May 2023. Motorcycle sales also saw a decline, with 471,186 units sold in May 2024 compared to 489,336 units in May 2023. However, the company registered growth in export sales. Hero Moto Corp exports were up from 11,165 units in May 2023 to 18,673 units in May 2024. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Hero MotoCorp announces price hike for motorcycles and scooters from July 1

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> witnessed range-bound <keyword id="20114014" type="General" weightage="20" keywordseo="trading" source="keywords">trading</keyword> against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Monday, amid a negative trend in the domestic equity market. <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">Forex</keyword> traders said the strength of the American currency in the overseas market and elevated crude oil prices also weighed on the local unit and restricted the upmove. At the interbank foreign exchange market, the local unit opened at 83.52 and gained further to trade at 83.45 against the greenback in initial deals, registering an increase of 12 paise from its previous closing level. On Friday, the rupee hit the lowest level of 83.63 but finally settled at 83.57 against the dollar, registering a gain of 4 paise from its previous close. "Price action on Friday seemed to indicate purposeful intervention by the central bank," IFA Global said in a research note, adding that the rupee is likely to trade in 83.40-83.67 range with sideways price action. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent higher at 105.82. Brent crude futures, the global oil benchmark, fell 0.06 per cent to USD 85.19 per barrel. "Indian rupee which gained slightly on Friday and is expected to remain range-bound with the <keyword id="19922074" type="General" weightage="20" keywordseo="reserve-bank" source="keywords">Reserve Bank</keyword> of India (RBI) sitting on the fence near to 83.60 to protect it after the USD/INR pair made an all-time low of 83.67 last week on constant equity-related outflows and the stronger dollar index," said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. In the domestic equity market, the 30-share BSE Sensex fell 349.25 points, or 0.45 per cent, to 76,860.65. The broader NSE Nifty fell 103.15 points, or 0.44 per cent, to 23,397.95. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Friday, as they offloaded shares worth Rs 1,790.19 crore, according to exchange data. Meanwhile, India's forex reserves dropped by USD 2.922 billion to USD 652.895 billion for the week ended June 14, the Reserve Bank said on Friday. In the previous reporting week, the kitty had jumped by USD 4.307 billion to USD 655.817 billion, a new all-time high after consecutive weeks of increase in the reserves. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Rupee sees range-bound trade against US dollar in morning deals

Bank and demat account deposits apart from cash worth about Rs 37 crore has been seized by the ED as part of a <keyword id="19899231" type="General" weightage="20" keywordseo="money-laundering" source="keywords">money laundering</keyword> probe against a Mumbai-based financial consultant and his company who are alleged to have duped investors of Rs 600 crore through a <keyword id="20951855" type="General" weightage="20" keywordseo="Ponzi-scheme" source="keywords">Ponzi scheme</keyword>. The federal agency said on Sunday that the action was undertaken after carrying out raids in the metropolitan city on June 21 against <keyword id="22154954" type="General" weightage="20" keywordseo="Amber-Dalal" source="keywords">Amber Dalal</keyword> and his company <keyword id="21044094" type="General" weightage="20" keywordseo="Ritz-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Ritz Consultancy Services" meta.hostid="261" meta.entityid="Ritz Consultancy Services">Ritz Consultancy Services</keyword>. The <keyword id="19895344" type="General" weightage="20" keywordseo="Enforcement-Directorate" source="keywords" meta.keywordsubtype="org" meta.entityname="Enforcement Directorate" meta.hostid="261" meta.entityid="Enforcement Directorate">Enforcement Directorate</keyword> case of money laundering stems from a Mumbai Police FIR that charged the Chartered Accountant and his company with taking money from investors through a "suspected Ponzi scheme that promised high returns." Dalal "absconded" with this money after giving initial returns. It has been gathered that Dalal raised more than Rs 600 crore from 1,300 investors, the ED said in a statement. He was arrested by the EOW, Mumbai Police and is presently under judicial custody, it said. Dalal raised money from investors on the pretext that he invested the funds in nine commodities like gold, silver, crude oil, natural gas, zinc, lead, nickel, copper, aluminium and their trade, ensuring the capital is safe and promising an annual return of 18-22 per cent to his investors, the ED alleged. Using the same modus operandi, he raised money from investors in UAE and USA as well, it said. The search operations unveiled a network of stockbrokers, investment advisors who brought clients in lieu of commission. It is also found that payment received from new investment were being utilised to pay out the monthly returns to the old investors, it said. Dalal "diverted" the funds received in Ritz's account to personal accounts, which were further routed to family member's accounts and used for creating assets, the ED said. He "diverted" about Rs 51 crore to his personal accounts. These funds were used to acquire assets in India and abroad, it said. The ED has identified eight such immovable properties in India and two abroad. "Other than from banking channels, investments were made through cash as well, which was then infused in books as accommodation entries in connivance with Mumbai-based jewellers. "Returns on such cash-based investments were given to investors in India and abroad (including UK, UAE) by hawala operators," the ED said. Cash, bank deposits, Demat account holdings to the tune of Rs 37 crore have been frozen and various incriminating documents, digital devices have been seized during the searches, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

Mumbai: ED seizes ₹37 crore worth deposits, cash in Ponzi case

<ul><li>The <keyword id="19925636" type="General" weightage="100" keywordseo="stock-market" source="keywords">stock market</keyword> began the week on a subdued note as key indices opened lower on Monday.</li><li>The BSE Sensex fell by 346.25 points, opening at 76,863.65, reflecting a 0.45% decline. The NSE Nifty 50 dropped by 99.75 points to 23,401.35, marking a 0.42% decrease.</li><li>The top gainers included Sun Pharma, Wipro, ITC, ICICI Bank, and Apollo Hospitals.</li></ul>The stock market began the week on a subdued note as key indices opened lower on Monday. The BSE Sensex fell by 346.25 points, opening at 76,863.65, reflecting a 0.45 per cent decline. Meanwhile, the NSE Nifty 50 dropped by 99.75 points to 23,401.35, marking a 0.42 per cent decrease. The initial hours of trading indicated a bearish sentiment, driven by broader market concerns amidst <keyword id="22158160" type="General" weightage="20" keywordseo="global-economic-uncertainty" source="keywords">global economic uncertainty</keyword>. Among the Nifty 50 companies, only 4 stocks advanced while 42 declined, showcasing weak <keyword id="20528297" type="General" weightage="20" keywordseo="market-breadth" source="keywords">market breadth</keyword>. The top gainers included Sun Pharma, Wipro, ITC, ICICI Bank, and Apollo Hospitals. On the other hand, the major losers were CIPLA, IndusInd Bank, Tata Steel, AdPorts, and Bajaj Finance. The lacklustre performance was influenced by mixed global cues and recent profit booking trends. Last Friday's session saw the Sensex closing 269.03 points lower at 77,209.90, and the Nifty settled at 23,501.10, down by 65.90 points. The market was weighed down by selling pressure, leading to a cautious start this week. The Bank Nifty index also opened lower, down by 381.20 points or 0.74 per cent to 51,280.25, signalling a broad-based decline across sectors. Technically, the Nifty 50 showed potential bearish signals with a bearish engulfing pattern on the daily chart, suggesting indecision among traders. Varun Aggarwal, founder and managing director, Profit Idea, said, "A small bearish candle on the weekly chart indicated a formation of a bearish spinning top pattern, pointing towards potential further weakness if confirmed in the coming days. The market is closely watching these <keyword id="20181742" type="General" weightage="20" keywordseo="technical-indicators" source="keywords">technical indicators</keyword> for signs of direction." He added, "Globally, market trends were mixed, adding to the cautious sentiment. In the United States, the S&amp;P 500 and Nasdaq closed lower on Thursday due to disappointing economic data and cautious comments from the Federal Reserve regarding interest rate cuts." In Asia, market movements were varied with the Asia Dow marginally up by 0.88 per cent, Japan's Nikkei 225 slightly down by 0.03 per cent, Hong Kong's Hang Seng up by 1.67 per cent, and China's Shanghai Composite down by 0.24 per cent. Institutional activity played a crucial role in shaping market dynamics. Foreign Institutional Investors (FII) were net sellers, offloading shares worth Rs 1,790 crore. In contrast, Domestic Institutional Investors (DII) were net buyers, purchasing shares worth Rs 1,237 crore, as per provisional data from the NSE. This divergence in buying and selling activity underscores the cautious stance of international investors amid local confidence in domestic equities. In the <keyword id="22158161" type="General" weightage="20" keywordseo="commodity-markets" source="keywords">commodity markets</keyword>, crude oil prices showed minor declines, with WTI crude down by 0.26 per cent at USD 80.38 and Brent crude also decreasing by 0.26 per cent to USD 84.85. The US Dollar Index edged up by 0.06 per cent to 105.88, indicating mixed sentiment in global currency markets and reflecting a cautious economic outlook. Shrikant Chouhan, Head of Equity Research at Kotak Securities, noted that the benchmark indices experienced selling pressure at higher levels last week, with the Nifty and Sensex closing lower. He said, "We expect weak sentiment as long as the market is trading below 23700/77800, and anticipate a retest of 23400/76700 levels. Further downside may continue, possibly dragging the market towards 23200/76100. On the other hand, a breakout above 23700/77800 could lead the market towards 23800-24000/78000-78500." He added, "The prudent strategy would be to buy between 23000 and 23200 levels with a stop loss at 23000 on a closing basis. Keep reducing positions if indices move towards 23600/23700 levels. For Bank Nifty, 51200 will be the trend-deciding level. Below this level, it could fall to 50750 or 50500, while moving above it would gradually push it towards 51750 or 52000." As the week progresses, investors remain cautiously optimistic, balancing global uncertainties with domestic opportunities, keeping a watchful eye on technical patterns and institutional activity to navigate the volatile market landscape. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/akme-fintrade-ipo-allotment-how-to-check-allotment-gmp-listing-date-and-more/articleshow/111218502.cms" target="_blank">Akme Fintrade IPO allotment – How to check allotment, GMP, listing date and more</a><a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-gt-6-vs-xiaomi-14-civi-which-smartphone-should-you-buy-under-50000/slidelist/111157835.cms" target="_blank">Realme GT 6 vs Xiaomi 14 CIVI – Which smartphone should you buy under ₹50,000?</a><a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/stanley-lifestyles-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/111134786.cms" target="_blank">Stanley Lifestyles IPO – Price band to risk factors, all you need to know</a>

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