Page 131 - Latest Updates on Stock Market
Global Surfaces IPO opens today: GMP, subscription status, all details here
Global Surfaces IPO subscription status: According to BSE, as of 10:40 AM on Monday, the issue has been subscribed 0.04 times
 "Global Surfaces IPO opens today: GMP, subscription status, all details here")
Sona Comstar slumps 6% after 20% equity changes hands via block deal
At 09:15 am; nearly 118.76 million equity shares representing 20.3 per cent of total equity of Sona Comstar had changed hands on the BSE, the exchange data shows
 "Sona Comstar slumps 6% after 20% equity changes hands via block deal")
Eight of top-10 firms lose Rs 1.03 trn in market-cap; RIL, ICICI hit hard
Eight of the top 10 valued firms faced a combined erosion of Rs 1,03,732.39 crore in market valuation last week, with Reliance Industries and ICICI Bank taking the biggest hit
 "Eight of top-10 firms lose Rs 1.03 trn in market-cap; RIL, ICICI hit hard")
Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008
Selling pressure seen in banking, IT, and new-age stocks; foreign investors expected to be cautious
 "Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008")
SVB chief Greg Becker sold $3.6 mn in stock days before bank's failure
The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings
 "SVB chief Greg Becker sold $3.6 mn in stock days before bank's failure")
No SVB-like scenario in India; banks are on a strong footing, say analysts
The sell-off in the banking pack, analysts said, was a knee-jerk reaction to the developments with US-based Silicon Valley Bank (SVB) that announced a share sale to shore up its finances
 "No SVB-like scenario in India; banks are on a strong footing, say analysts")
Adani group stocks gain for second week. add Rs 75,263 in market cap
This despite some group firms, including flagship Adani Enterprises, shedding some gains in past two trading sessions
 "Adani group stocks gain for second week. add Rs 75,263 in market cap")
SVB crisis sends jitters through startup world: Here's what we know
Santa Clara-based SVB Financial Group announced that it sold $21 billion of securities from its portfolio. SVB Financial Group also said it was holding a $2.25 billion share sale to shore up finances
 "SVB crisis sends jitters through startup world: Here's what we know")
Equitas SFB slips 13% as new shares list post merger with Equitas Holdings
Total 789.53 million shares have been listed pursuant to the scheme of amalgamation of Equitas Holdings with Equitas Small Finance Bank
 "Equitas SFB slips 13% as new shares list post merger with Equitas Holdings")
Stocks to Watch: Wipro, Reliance, Ajanta Pharma, Infosys, IRB Infra, REC
Stocks to Watch: RIL arm Reliance Polyester has completed acquisition of polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex
Mixed day for Adani Group companies; AEL falls 4,2%, Adani Wilmar up 2.8%
The stock of Adani Power closed at Rs 196.05, Adani Transmission at Rs 860.85, Adani Green Energy at Rs 650.55 and Adani Total Gas at Rs 904.95 apiece on BSE
 "Mixed day for Adani Group companies; AEL falls 4,2%, Adani Wilmar up 2.8%")
How to approach IT stocks amid tighter monetary policy, recession fears?
According to Jefferies, analysts' consensus revenue growth estimates for CY24 have been lowered for top clients of all IT firms, barring Wipro, with the highest cuts for HCL Tech and Tech Mahindra
 "How to approach IT stocks amid tighter monetary policy, recession fears?")
Jindal Saw hits over 5-year high; zooms 94% in 3 months on healthy outlook
The company said that the future of the global steel pipe market looks promising with opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sectors
 "Jindal Saw hits over 5-year high; zooms 94% in 3 months on healthy outlook")
SeQuent Scientific rallies 15% on terminating pact to acquire Tineta Pharma
In November 2022, SeQuent had announced the acquisition of Tineta Pharma for Rs 218 crore but the said transaction has not materialised
 "SeQuent Scientific rallies 15% on terminating pact to acquire Tineta Pharma")
Stocks to Watch: Bharat Forge, Shoppers Stop, Gokaldas, Lotus Chocolate
Stocks to Watch: As per a report, Clear Wealth Consultancy Svcs LLP will likely sell 8.25 per cent stake via block deal in Gokaldas Exports today
 "Stocks to Watch: Bharat Forge, Shoppers Stop, Gokaldas, Lotus Chocolate")
Stocks to Watch: HAL, L&T, Allcargo Logistics, Zee Ent, Power Grid, NBCC
Stocks to Watch: Zee Entertainment has entered a settlement agreement with operational creditor Indian Performing Rights Society to settle all claims and disputes
 "Stocks to Watch: HAL, L&T, Allcargo Logistics, Zee Ent, Power Grid, NBCC")
Stock market holiday: Share market to remain closed due to Holi today
Stock market holiday news: While most people are celebrating Holi on Wednesday, March 8, BSE and NSE have declared a stock market holiday on March 7
MF inflow in equities crosses Rs 1.5-trn for second straight fiscal
Thus far in FY23, MFs have pumped in a net Rs 1.53 trillion in equities till March 1, 2023, Securities and Exchange Board of India (Sebi) data show, as compared to Rs 1.72 trillion in FY22
 "MF inflow in equities crosses Rs 1.5-trn for second straight fiscal")
Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs
Power Grid has been declared a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh.
 "Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs")
Wonderla scales record high; Imagicaaworld at 52-wk peak, up 44% in 3 days
The companies said business continues to show an excellent rebound after two years of adverse Covid-19 impact and an overall improvement in the health of operations
 "Wonderla scales record high; Imagicaaworld at 52-wk peak, up 44% in 3 days")