Angel Broking IPO opens to a moderate response:
Angel Broking’s Rs 600-crore initial public offering (IPO) has received a moderate response on Day-1. The issue is subscribed 31% so far with the retail book filled 63%. Qualified institutional buyers and non-institutional investors have not started bidding yet.
Angel Broking is the fourth largest broking house in India in terms of the number of active clients.
CAMS' IPO maintains momentum day-2:
CAMS' ongoing IPO continues to receive a positive response. Overall 1.62% of IPO is subscribed so far. The retail portion is filled 2x. QIP quota is subscribed up to 24.84% and the non-institutional investors' quota is filled 50%.
CAMS is a technology-driven financial infrastructure and services provider. It caters to mutual funds and other financial institutions.
Increase spending to revive the economy: HUL Chairman
Hindustan Unilever's chairman, Sanjiv Mehta has urged the government to be aggressive with spending. He also called for an interest rate cut to improve consumption in the urban centers.
Mehta maintained a negative stance on the government's handling of economic distress. The government has been reluctant on spending. He believes that it's high time to increase spending even at the risk of higher inflation.