News digest: Samvat 2075, Jhunjhunwala's worst quarter in decades, and more

The BSE lit up for Diwali in Mumbai on Tuesday | Photo: Kamlesh D Pednekar
IPO pipeline may moderate in Samvat 2075 over weakness in secondary market

After back to back blockbuster years, the initial public offering (IPO) market is expected to witness moderation in activity in Samvat 2075. Weakness in the secondary market and political uncertainty are expected to weigh on new issuances in the coming months, say experts.

A total of 30 companies raised Rs 510 billion in Samvat 2074 surpassing the previous year’s tally of Rs 489 billion, data sourced from Prime Database shows. Read more.

Jhunjunwala takes his biggest hit in 10 quarters: Here's a look at his bets

A smallcap focus may be weighing on Rakesh Jhunjhunwala’s portfolio in this downturn.

The disclosed value of his portfolio showed a double-digit decline in the three month ending September. This is the biggest fall in at least the past ten quarters. The portfolio was worth Rs 123.33 billion at the end of June 2018. It was worth Rs 106.33 billion at the end of the September quarter. Smallcaps account for the largest number of his stock-picks. Read more.

US midterm polls produce a divided Congress, Democrats retake House

Democrats took control of the House of Representatives, while Republicans retained their grip on the Senate, as millions of voters flocked to the polls Tuesday to render their first national verdict on the Donald Trump presidency.

Democrats won victories in key House races from coast to coast, flexing strength in suburban districts full of affluent, educated voters—enough to tip control of the chamber to them for the first time in eight years. Read more.

Diwali brings light of hope to Noida's ghost towers as buyers come back

About six years back, Diwali was celebrated with much alacrity in and around Noida Expressway, Noida Extension, and Greater Noida. 

Large billboards advertising the latest residential projects, amenities being promised by few of the biggest developers in the country such as Unitech, Amrapali, Jaypee, as well as hundreds of smaller developers would be visible for miles. Read more.

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