Puravankara Plans ₹300Cr Raise
- 02nd May 2025
Aaj Ka Bazaar
The US market rose overnight as upbeat earnings news from software giant Microsoft and Facebook parent Meta Platforms helped ease concerns about AI spending and looked for signs of easing tensions in the US-China trade dispute. Economic data on the session painted a sluggish picture, with US manufacturing contracting for a second straight month in April and initial unemployment claims posting an unexpected increase last week. Asian markets were mostly higher this morning as news of trade talks between China and the US helped offset disappointing earnings from Apple Inc. and Amazon. Meanwhile, China said it is assessing the possibility of trade talks with the US after senior US officials repeatedly expressed their willingness to negotiate on tariffs. Indian market looks set to open a tad higher on Friday as markets resume trading after a holiday on Thursday. Stock-specific action is likely as investors react to the latest earnings results and mixed sales figures from automobile companies in April.
Markets Around Us
BSE Sensex – 80,650.69 (0.51%)
Nifty 50 – 24,429.35 (0.39%)
Bank Nifty – 55,378.40 (0.53%)
Dow Jones – 41,099.43 (0.85%)
Nasdaq – 17,710.74 (1.52%)
FTSE – 8,496.80 (0.02%)
Nikkei 225 – 36,734.90 (0.78%)
Hang Seng – 22,456.82 (1.64%)
Sector: Residential Commercial Projects
Puravankara Plans ₹300- Cr fundraise
Real estate firm Puravankara Limited announced that its board of directors will meet on Tuesday, May 6, to consider a proposal for raising funds up to ₹300 crore through the issuance of secured, redeemable, unlisted, and unrated non-convertible debentures (NCDs) on a private placement basis. The company plans to issue up to 3,000 NCDs with a face value of ₹10 lakh each. The fund-raising will be undertaken in one or more tranches, in accordance with the relevant provisions of the Companies Act, 2013, and applicable rules, including those governing share capital and debenture issuance. Puravankara stated that the fundraising proposal, if approved, will be subject to necessary regulatory and statutory clearances. The terms and structure of the issuance will be decided at the board’s discretion.
Why it Matters:
This fundraise will bolster Puravankara’s capital for new projects and debt management. Opting for private placement signals financial confidence and strategic fund sourcing. It also reflects the company’s positive outlook on real estate market opportunities.
NIFTY 50 GAINERS
ADANIPORTS – 1266.00 (4.07%)
HINDALCO – 648.35 (3.79%)
MARUTI– 12677.00 (3.43%)
NIFTY 50 LOSERS
EICHERMOT – 5476.00 (-1.63%)
NESTLEIND – 2358.50 (-1.24%)
BAJAJFINSV – 1940.90 (-0.55)
Sector : Civil Construction
NBCC Bags orders worth Rs 96 Cr
NBCC India Ltd in its intimation to the National Stock Exchange of India and the BSE (Bombay Stock Exchange) on Thursday, 1 May 2025 said that it has re- ceived work order. As per the Intimation about the work order received by NBCC in normal course of business, amounting Rs. 95.66 Crore (Approx.), it said that NBCC (India) Limited has recently been awarded order for the Renovation work of Sushma Swaraj Institute of Foreign Service, New Delhi. The approximated value of order intimated by NBCC is ₹95.66 crore excluding the Goods and Services Tax or the GST.
Why it Matters:
The ₹95.66 crore order strengthens NBCC’s order book and business momentum. It highlights NBCC’s continued dominance in government infrastructure projects. The project adds prestige by associating with a key diplomatic institution.
Around the World
Asian stock markets rose sharply on Friday, taking positive cues from Wall Street’s strong overnight performance. Hong Kong led the rally as hopes for trade talks between China and the U.S. lifted investor sentiment. China announced it was open to discussions if the U.S. removed tariffs, easing fears of a global trade war. With mainland China markets closed for a holiday, Hong Kong-listed stocks like Alibaba and Xiaomi saw strong gains. Other Asian markets also moved higher — Australia’s ASX 200 rose after steady retail sales data, while Japan’s Nikkei gained despite the Bank of Japan lowering its growth outlook. South Korea, Singapore, and India’s markets followed with modest increases. U.S. stock futures also climbed in Asian hours, reflecting improved market mood over easing trade tensions and corporate earnings optimism. Overall, the day’s rally highlighted how global markets remain sensitive to geopolitical developments and central bank signals.
Option Traders Corner
Max Pain
Nifty 50 – 24200
Bank Nifty – 54900
Nifty 50 – 24309 (Pivot)
Support – 24,223, 24,112, 24,025
Resistance – 24,420, 24,501, 24,618
Bank Nifty – 55096 (Pivot)
Support – 54,714, 54,341, 53,959
Resistance – 55,469, 55,850, 56,223
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