AceVector, the parent company of Snapdeal, will launch its IPO on September 25 with a price band of Rs 30–32 per share. The issue comprises a fresh issue of Rs 287 crore and an OFS of up to 4.16 crore shares. The IPO will close on September 29, with the anchor book opening on September 24.
Jefferies has ‘Buy’ calls on 11 NBFCs, with target prices implying up to 48% upside. The brokerage expects healthy disbursement growth and resilient asset quality, while tracking funding costs and near-term NIM trends.
Innodata shares surged 14.6% after a report linked the company to Meta’s Muse AI assistant, though the connection remains unconfirmed. Strong revenue growth, AI demand, leadership changes and valuation concerns are shaping investor interest in the stock.
India’s midcap stocks outperformed the Nifty 50 over six months, with 10 stocks gaining 50%-105%, alongside notable FII and mutual fund holdings.
Indian benchmark indices gain up to 0.5% as metal and financial stocks support the market, while elevated crude prices and bond yields remain key constraints. Analysts highlight resistance levels and stretched midcap and smallcap valuations.
IonQ shares surged 9.3% following significant updates on its Asia-Pacific expansion and technological advancements. The quantum-computing firm is deepening its presence in South Korea through a strategic partnership with SDT to deploy its Superion 256 system, alongside reporting key breakthroughs in quantum error correction and engineering simulation acceleration.
China and Hong Kong stocks declined on Wednesday as investor expectations surrounding the upcoming summit between US President Donald Trump and Chinese President Xi Jinping cooled. Rising trade friction with Europe further dampened sentiment, although property shares bucked the broader market trend on government support measures for China Vanke.
Clean Max shares: Macquarie initiated coverage on Clean Max Enviro Energy Solutions with an Outperform rating and a Rs 1,700 target price, implying 24% upside from current levels. The stock has gained 13% in three sessions, making Macquarie the second brokerage to initiate coverage after JM Financial.
Meesho shares witnessed a dip on Wednesday after 3.86 crore shares changed hands in a block deal worth Rs 899.71 crore on the BSE. The transaction came a day after the stock surged nearly 10% following UBS’ 24% target price hike.
China’s yuan weakened Wednesday after the PBOC set a weaker midpoint, ending a 10-session streak of stronger guidance. Rising trade tensions with Europe, concerns over exports and a stronger dollar weighed on sentiment. Markets now await the Trump-Xi meeting, which could influence trade relations, currency policy and the yuan’s trajectory.
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