Thu Sep 26 12:53:49 UTC 2024: ## Indian Markets Buzz: IPOs, Steel Tariffs, and Accenture’s AI Push

**Mumbai, India (September 26, 2023)** – The Indian market is buzzing with activity, from IPOs to steel tariffs and a growing focus on Artificial Intelligence. Here’s a roundup of the key news:

**IPOs:**

* **Forge Auto International:** Day 2 of the IPO subscription is underway, with the Grey Market Premium (GMP) suggesting a potential listing premium of 27.78%.
* **Thinking Hats Entertainment Solutions:** Day 2 of the IPO saw strong interest, and the GMP indicates a possible listing gain of 68.18%.
* **Alkem Labs:** Reports suggest the company is in talks to acquire Novartis India from its Swiss parent for an estimated Rs 2,000 crore.

**Steel:**

* Indian steelmakers are calling for the government to double tariffs on steel imports from China to counter a surge in cheaper shipments.

**Other Key Developments:**

* **Government Borrowing:** The government plans to borrow Rs 6.61 lakh crore, or 47.2%, through dated securities.
* **Ethanol and Sugar:** India is considering raising domestic prices for ethanol and sugar to boost local supplies.
* **SEBI:** The regulator has reduced the listing timeline for debt securities and Non-Convertible Redeemable Preference Shares (NCRPS) to T+3 working days, speeding up access to funds for issuers.
* **Accenture:** The IT giant reported a 15% increase in its quarterly dividend and a 15% revenue growth in Q4, driven by strong demand for AI-related services.

**Market Insights:**

* **Banks vs. IT:** Investors are debating whether to invest in bank or IT stocks currently.
* **Options Trading:** The Traders Gurukul-organized “Regional Retail Option Traders Summit (BOTS)” is gaining popularity, offering a platform for traders across India.

This highlights a dynamic Indian market, driven by both growth opportunities and challenges. The focus on AI and the increasing competition in the IPO space suggest a future of innovation and change.

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