Page 1246 - Markets News
IDBI Bank surges 16% in 2 days as govt invites bids to appoint asset valuer
The government along with the Life Insurance Corporation of India (LIC) is selling nearly 61 per cent stake in IDBI Bank and has received multiple Expressions of Interest (EoI) for the same
 "IDBI Bank surges 16% in 2 days as govt invites bids to appoint asset valuer")
Vishnu Prakash makes strong debut; lists 67% higher over its issue price
The stock listed at Rs 165, a 67% premium over its issue price of Rs 99 per share on the NSE
 "Vishnu Prakash makes strong debut; lists 67% higher over its issue price")
Stocks to Watch: Vishnu Prakash, Hero Moto, Cipla, Escorts, Oil, IEX, M&M
Stocks to watch on September 5, 2023: Vishnu Prakash R Punglia will debut on the bourses today. The issue price is Rs 99 and the stock may list with up to 60 per cent premium
 "Stocks to Watch: Vishnu Prakash, Hero Moto, Cipla, Escorts, Oil, IEX, M&M")
Rally in Nifty PSU Bank index might lose stream as it nears resistance zone
Only when the index manages to close 4,680 level, it could signify a breakout on the charts, potentially opening the door to further gains
 "Rally in Nifty PSU Bank index might lose stream as it nears resistance zone")
Crediting funds to Sebi's IPEF to be done through online mode only
To facilitate market intermediaries, the process of crediting funds to Sebi's Investor Protection Education Fund (IPEF) can only be conducted online through the regulator's website.
 "Crediting funds to Sebi's IPEF to be done through online mode only")
Jio Financial recovers losses; EMS sets price band at Rs 200-211 for IPO
In the pre-IPO placement round, the Ghaziabad-based firm raised Rs 33.76 crore
 "Jio Financial recovers losses; EMS sets price band at Rs 200-211 for IPO")
Sebi brings new format for abridged prospectus for debt securities
Sebi came out with a new format for abridged prospectus for public issuance of non-convertible debt securities wherein critical information will be provided on the front page
NSE seeks an extension of six months from Sebi to pare NSDL stake
Timeline to comply with Sebi regulations ends on October 2
 "NSE seeks an extension of six months from Sebi to pare NSDL stake")
Surprise election outcome in May can see markets tank 40%: Morgan Stanley
The defining moment, Desai said, could be if and when the 26-party opposition alliance, known as I.N.D.I.A., is able to strike a seat-sharing deal
 "Surprise election outcome in May can see markets tank 40%: Morgan Stanley")
Trading volumes surge amid broader mkt buoyancy in Aug; F&O hits fresh high
Cash average daily turnover most in 22 months; BSE sees market-share gains
 "Trading volumes surge amid broader mkt buoyancy in Aug; F&O hits fresh high")
Rising crude, uncertainty ahead of elections keep analysts wary on OMCs
Analysts say the already weakening marketing margins will be a concern ahead as the fate of OMCs remains tied to uncertain crude prices and the inability to raise prices amid the coming elections
 "Rising crude, uncertainty ahead of elections keep analysts wary on OMCs")
Bond market optimistic on inclusion in international bond indices
The yield on the benchmark 10-year bond remained flat in August and moved in a narrow range throughout the month
 "Bond market optimistic on inclusion in international bond indices")
IEX trade volume rises over 13% to 8,865 million units in August
Indian Energy Exchange's total trade volume rose by over 13 per cent year on year to 8,865 million units in August
 "IEX trade volume rises over 13% to 8,865 million units in August")
Oil stable amid hopes on stable fed rates, Opec+ supply cut expectations
Brent crude futures for November crept 5 cents higher to $88.60 a barrel by 1110 GMT. U.S. West Texas Intermediate crude (WTI) October futures rose 2 cents to $85.57 a barrel
 "Oil stable amid hopes on stable fed rates, Opec+ supply cut expectations")
Sensex ends 241 pts higher, Nifty reclaims 19,500; IT, Metal stocks shine
CLOSING BELL ON SEPTEMBER 04, 2023: In the broader market, the BSE MidCap and the SmallCap indices gained close to a per cent each on Monday.
 "Sensex ends 241 pts higher, Nifty reclaims 19,500; IT, Metal stocks shine")
Sebi fines Rs 7 lakh on Shapoorji Pallonji for violating disclosure rules
Also, it failed to submit auditor's certificate on utilization of funds, half yearly certificate on maintenance of asset cover and annual report to the debenture trustee
 "Sebi fines Rs 7 lakh on Shapoorji Pallonji for violating disclosure rules")
BSE ups share buyback price, fixes record date; stock soars 28% in 4 days
BSE announced increase in the buyback offer price from Rs 816 per equity share to Rs 1080 per share.
 "BSE ups share buyback price, fixes record date; stock soars 28% in 4 days")
Nazara Tech zooms 12% on plan to raise Rs 100 cr from Nikhil Kamath's firms
The company said it is proposing to issue 1.4 million equity shares at a price of Rs 714 per equity share aggregating to Rs 100 crore proportionately to M/s Kamath Associates & M/s NKSquared.
 "Nazara Tech zooms 12% on plan to raise Rs 100 cr from Nikhil Kamath's firms")
GMR Power zooms 20% as Group wins contract worth of Rs 5,123 cr in UP
The company said the total contract value for Prayagraj & Mirzapur Zone is about Rs 2,386.72 crore and for Varanasi & Azamgarh Zone is about Rs 2,736.65 crore.
 "GMR Power zooms 20% as Group wins contract worth of Rs 5,123 cr in UP")
IRFC zooms 28% in 2 days on heavy volumes; market-cap hits Rs 80,000 crore
Shares of state run financier Indian Railway Finance Corporation (IRFC) hit a record high of Rs 64.50, nearly doubled since July, from the level of Rs 32.35 on the BSE.
 "IRFC zooms 28% in 2 days on heavy volumes; market-cap hits Rs 80,000 crore")