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Major cryptocurrencies traded on a bullish note on Monday, led by gains in Bitcoin and Ethereum. While Bitcoin traded at $111,849, Ethereum hovered around $4,120. Market experts say BTC is maintaining strong upward momentum, supported by whale accumulation. In just one week, whales purchased $3.3 billion worth of BTC, followed by $1.73 billion in ETH later in the week.“This shows increased confidence in crypto, ahead of the fourth quarter. While ETFs saw significant outflows last week, whales absorbed the selling pressure, putting BTC back on the bullish track. For now, a decisive close above $112,600 could further strengthen Bitcoin’s momentum, with support standing at $107,900,” said Edul Patel, CEO of Mudrex.Another analyst noted that the drop in Bitcoin's dip below key averages over the past week isn’t a death knell but a cleansing.Also Read | Explained: Want to build Rs 1 crore corpus? Here’s how much you need to invest monthly“Bitcoin’s dip below key averages isn’t a death knell but a cleansing. Flushing out leveraged longs wipes the slate clean, resets positioning, and builds a healthier footing. With funding rates turning negative, the stage is set for stronger hands to drive the next move higher, reinforcing our bullish stance despite short-term turbulence,” said Parth Srivastava, Head of Quant, 9Point Capital’s Research Team.At 10:14 AM IST, Bitcoin was trading at $111,898 on Monday. BTC went up by 2.25% over the past 24 hours and was down nearly 2.30% over the past week. Ethereum, meanwhile, was at $4,122, gaining 2.92% in the past 24 hours and falling 4.18% over the last seven days.According to CoinMarketCap data, the crypto sector’s overall market capitalisation stood at around $3.86 trillion on Monday.Here is what another expert saysSathvik Vishwanath, Co-Founder & CEO, UnocoinBitcoin is currently trading around $111,700 amid heightened volatility and macro uncertainty. Recent breakdowns below key support levels signal short-term bearish sentiment, with momentum indicators like MACD and RSI turning negative. A "death cross" looms, suggesting possible continued downside unless strong buying interest returns. Also Read | Unclaimed money in mutual funds surges 21% in 2024-25, AMCs hold Rs 3,400 crore in dividend & redemptions: SebiThe macro backdrop—marked by hawkish Fed policy and risk-off sentiment—adds pressure. However, institutional interest and post-halving supply constraints may support longer-term bullish potential. Key resistance lies near $115,000, with support around $110,000 and $103,000. A break in either direction could define Bitcoin’s next major move. Investors remain cautious yet watchful of structural bullish catalysts.Crypto whalesAccording to Coinbase, a crypto whale is a term used within the cryptocurrency community to refer to individuals or entities that hold large amounts of cryptocurrency.

Fabtech Technologies, a specialist in biopharma engineering solutions, launched its initial public offering (IPO) on Monday, September 29. Early bidding on the first day saw a modest overall subscription of 2%.Despite the slow start in formal subscriptions, the IPO is generating significant buzz in the grey market, with shares trading at a premium of around 18%.The Rs 230 crore IPO is a fresh issue consisting of 1.21 crore equity shares. The price band is set between Rs 181 and Rs 191 per share, with a minimum application size of 75 shares. The subscription window will remain open until October 1.Fabtech Technologies IPO Subscription Status: Day 1 UpdateAs of 10:20 AM on Day 1, the Fabtech Technologies IPO saw a modest start, with just 2% overall subscription, according to BSE data.Retail Individual Investors (RIIs) have subscribed to 4% of the 42 lakh shares allocated to them. This indicates cautious early participation from the retail segment.Non-Institutional Investors (NIIs), which include high-net-worth individuals, also bid for 2% of the 18 lakh shares reserved for their category.Qualified Institutional Buyers (QIBs): As of now, there have been no bids from institutional investors for the 60 lakh shares allocated to them — a common trend on the first day of bidding as QIBs typically participate later in the process.Fabtech Technologies IPO GMP Today: Strong Momentum in Grey MarketDespite a slow start in official subscriptions, Fabtech Technologies is witnessing robust demand in the grey market. The shares are currently commanding a grey market premium (GMP) of approximately 18%, indicating strong investor sentiment ahead of listing.This premium translates to an expected listing gain of around Rs 34–35 per share over the upper price band of Rs 191, reflecting positive outlook in the unofficial market.The healthy GMP reflects optimism around the company’s order book and growth prospects. Fabtech is positioned uniquely in the biopharma turnkey solutions segment with end-to-end offerings. Strong financial performance and a diversified order pipeline provide visibility.Fabtech Technologies IPO: Key Details and TimelineFabtech Technologies is launching a Rs 230 crore initial public offering (IPO), consisting entirely of a fresh issue of approximately 1.21 crore equity shares. The price band for the issue has been set between Rs 181 and Rs 191 per share, with a minimum lot size of 75 shares for retail investors.The IPO opened for subscription on September 29 and will remain open until October 1, 2025. The basis of allotment is tentatively scheduled for Friday, October 3, 2025, while the shares are expected to list on the NSE and BSE on Tuesday, October 7, 2025, subject to regulatory approvals.Should You Consider Bidding?Fabtech Technologies is strategically poised to benefit from the growing demand for cleanroom and engineering solutions, supported by a robust order book, a varied global clientele, and steady financial performance. The company’s focus on innovation, targeted acquisitions, and careful use of IPO funds further enhances its growth prospects. While there are risks associated with competition and execution, Fabtech’s strong fundamentals and international presence make this IPO attractive to investors with a medium to long-term investment perspective, according to Reliance Securities."Fabtech Technologies (FTL) benefits from an asset-light business model, a proprietary project management system, and a footprint across emerging markets, positioning it to leverage structural growth in global pharmaceutical capital expenditure. A healthy and diversified order book ensures revenue visibility in the near term. However, challenges include low proposal conversion rates and reliance on third-party procurement. At the upper price band of Rs 191, the IPO is priced at a post-issue P/E multiple of 29.7x and an EV/EBITDA multiple of 16.9x. With strong financial growth shown by CAGRs of Revenue (29.8%), EBITDA (29.1%), PAT (46.2%), and Adjusted PAT (14.7%) from FY23 to FY25, the company appears fairly valued." SBI Securities therefore assigns a Neutral rating to the issue.Utilization of IPO ProceedsThe funds raised from the IPO will be primarily allocated toward key strategic initiatives:Working Capital Requirements: Rs 1,270 crore will be used to support day-to-day operational needs.Inorganic Growth: Rs 300 crore is earmarked for potential acquisitions to drive business expansion.General Corporate Purposes: The remaining amount will support overall business operations and strategic flexibility.This fresh capital infusion is expected to strengthen Fabtech Technologies’ balance sheet and enhance its capacity for growth and market expansion.Business OverviewFabtech Technologies specializes in delivering turnkey solutions in cleanroom infrastructure, modular systems, and biopharma engineering. Its services cover the complete manufacturing lifecycle—from facility design and setup to installation, validation, and regulatory compliance.In addition to core biopharma solutions, Fabtech also provides clean water and clean air systems, serving sectors such as life sciences, food & beverage, IT, semiconductors, and aerospace.With a global footprint, the company has executed projects across various countries, adhering to stringent international compliance standards. As of July 31, 2025, Fabtech employed 185 permanent staff members.Financial PerformanceFabtech Technologies has delivered impressive financial growth in recent years. In FY25, the company reported a revenue of Rs 335.94 crore, marking a 46% year-on-year increase from Rs 230.39 crore in FY24. This growth reflects the company’s expanding project portfolio and rising demand for its engineering solutions across key sectors.The bottom line also saw a significant boost. Profit After Tax (PAT) surged by 71%, reaching Rs 46.45 crore in FY25, compared to Rs 27.22 crore in the previous fiscal year. This sharp rise in profitability highlights improved operational efficiency and stronger margin performance.Listing DetailsFabtech Technologies' shares are expected to be listed on both the NSE and BSE on October 7, 2025.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Shares of FMCG bellwether Hindustan Unilever declined as much as 3% to their day's low of Rs 2,443 on the NSE on Monday after the company said it expects the consolidated business growth to be near flat to low single-digit for the quarter ending September 30, 2025.This comes after the government slashed GST rates on a host of products, including FMCG. The FMCG major attributed this update to the transitory impact due to the trade and channel disruption on account of the GST rate rationalisation, announced earlier this month and effective September 22.“While this measure supports long-term consumption, we have seen a transitory impact in the form of disruption at distributors and retailers across channels to clear existing inventories with old prices. This has resulted in the postponement of ordering in anticipation of receiving new stocks with updated prices and lower orders across the overall portfolio, as consumers delayed their pantry buying. This has led to a short-term impact on sales for the Company in September. Given our existing pipeline inventory in the channels, we expect this impact to continue into October as well,” the company said in a regulatory filing on September 26.Domestic brokerage firm JM Financial says that its checks suggest the company has implemented high single-digit to low-double-digit price cuts across key beneficiary categories.As existing inventory with old prices in the trade channel (at distributor and retailer level) had to be cleared, there has been a transitory impact in the quarter, the brokerage added. Ordering activity was impacted in September due to lower primary sales as distributors/retailers postponed the orders in anticipation of receiving new orders with revised MRP and lower ordering across the portfolio, as consumers also delayed their pantry loading.Also read: Eternal vs Swiggy: Which one does HSBC pick as competition intensifies?With the revised GST rates, approximately 40% of HUL’s portfolio, including Toilet Soap, Toothpaste, Shampoo, Hair Oil, Talcum Powder, Lifestyle Nutrition and other Foods, now benefit from a reduced GST rate of 5%, down from the previous GST rates of 12% or 18%.At about 10:15 am, HUL shares were trading at Rs 2,490, lower by 1% from the previous close on the NSE. HUL shares are down 16% in the last 1 year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Russia-backed Indian refiner Nayara Energy is exporting oil products through sanctioned tankers and tapping new markets this month as it revives overseas sales in the aftermath of crippling sanctions, LSEG and Kpler shipping data shows. The privately-owned company halted exports for about two weeks after it was sanctioned by the European Union on July 18 for dealing in Russian oil. Nayara's exports of clean products - gasoline, gasoil and jet fuel - fell to around 80,000 barrels per day in August and September - down from about 138,000 bpd in January-July, Kpler data showed. Nayara has been forced to reduce crude runs at its 400,000-barrel-per-day refinery in Vadinar in western India to 70%-80% of its capacity, sources familiar with the matter said, due to difficulties in chartering ships and selling fuel from the port following sanctions. Before the sanctions, Nayara sold its refined products mostly to Western, Middle Eastern and Asian trading firms for export to Asia and northwest Europe, according to traders and shipping data. After the embargo, most Nayara cargoes are bound for the Middle East, Turkey, Taiwan and Brazil, the data showed. Since resuming exports in early August, at least 16 cargoes of diesel, gasoline and jet fuel have shipped out on EU-sanctioned tankers from Vadinar port, where Nayara's refinery is located, the data showed. Five of the tankers loaded with Nayara's products in August and September are floating off Oman and the United Arab Emirates, the data showed. Some of the tankers conducted ship-to-ship transfers off Oman and Egypt. Another two tankers discharged their cargoes at Turkis Enerji Storage Tank Farm in Turkey. Tankers Blue Ember and Anaya that loaded at Vadinar in August and September respectively, are heading to the Brazilian ports of Santos and Paranagua, the data showed. Nayara Energy, authorities in Oman, the UAE and Brazil, Egypt's energy ministry and Turkis Enerji did not respond to requests for comment. Another tanker Opal discharged high-sulphur gasoil loaded from Vadinar on August 22 at Taiwan's Taichung port on September 16, the data showed. Taiwan's Ministry of Economic Affairs declined to comment. Taiwan has wide-ranging sanctions on Russia, but does not explicitly ban Russian energy imports. Traders said a major buyer for Nayara's gasoline cargoes to the Middle East is Redwood Global Supply. Reuters could not find contact information for Redwood.