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Saatvik Green Energy, a solar module manufacturer, is planning an IPO. The company aims to raise 700 crore through fresh equity. It will use the funds to expand capacity and repay debt. An additional 200 crore will be raised through an offer for sale. The IPO will reduce promoter stake to 76.02%. Saatvik's financials show strong revenue and profit growth.
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Following the US Federal Reserve's rate cut, anticipation surrounds the potential return of foreign capital to Indian equities. However, high valuations in India and attractive opportunities in markets like China may temper inflows. While foreign selling has slowed, a significant turnaround hinges on domestic institutional investor activity and improved earnings momentum to shift FPI sentiment.
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Indian stock indices climbed for the third consecutive session on Thursday, buoyed by the US Federal Reserve's expected interest rate cut. The NSE Nifty and BSE Sensex both closed 0.4% higher, while the India Volatility Index hit a record low. Foreign and domestic portfolio investors were net buyers, contributing to the positive market sentiment.
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