Page 1250 - Markets News
Shoppers Stop sinks 8% as Venugopal Nair tenders resignation as MD & CEO
The Board has approved the appointment of Kavindra Mishra as executive director & CEO of the company for a period of three years
 "Shoppers Stop sinks 8% as Venugopal Nair tenders resignation as MD & CEO")
Exemption from angel tax and forex limits at GIFT: Regulatory panel
Allow to raise capital through SPACs and listing on offshore exchanges
 "Exemption from angel tax and forex limits at GIFT: Regulatory panel")
Elevated inflation trends may dig a deeper hole for FMCG stocks: Analysts
Investors have shunned consumer stocks with shares of HUL, ITC, Britannia, Godrej Consumer, Tata Consumer, and Nestle India dropping in the range of 1-11 per cent in a month
 "Elevated inflation trends may dig a deeper hole for FMCG stocks: Analysts")
Ant Group sells 3.6% stake in Paytm for Rs 2,037 cr via open market
In January this year, Alibaba's affiliate Alibaba Singapore E-commerce divested a nearly 3 per cent stake in mobile payments and financial services company for Rs 1,031 crore
 "Ant Group sells 3.6% stake in Paytm for Rs 2,037 cr via open market")
Market regulator Sebi mulls new fee collection system for advisors
Under this proposed mechanism, all fees paid by clients will be processed on a designated platform and directed to a Sebi-recognised supervisory body
 "Market regulator Sebi mulls new fee collection system for advisors")
Motilal Oswal MF buys Jio Financial Services' shares worth Rs 754 cr
According to the bulk deal data available with the NSE, Motilal Oswal Mutual Fund bought 3,72,00,000 shares, amounting to a 0.6 per cent stake in Jio Financial Services
 "Motilal Oswal MF buys Jio Financial Services' shares worth Rs 754 cr")
Market regulator Sebi bats for NRIs, OCIs investments in IFSC FPIs
Currently, a single NRI and OCI cannot contribute more than 25 per cent of the total corpus of an FPI. Additionally, the combined contribution from NRIs and OCIs cannot exceed 50 per cent
Adani-Hindenburg case: Sebi shares investigation update with Supreme Court
SEBI "shall take appropriate action based on outcome of the investigations," it said
Sensex slides 366 pts, extends losing run to 5-weeks; Nifty tests 19,250
CLOSING BELL ON AUGUST 25, 2023: The BSE benchmark has shed 2.7 per cent or 1,797 points in the last five straight weeks. HDFC Bank, Larsen & Toubro and ITC were the major laggards on Friday.
 "Sensex slides 366 pts, extends losing run to 5-weeks; Nifty tests 19,250")
Jindal Steel, JSW, Vedanta: Nifty Metal dips over 1% on China slowdown woes
Jindal Steel, Welspun Corp, JSW Steel, and Vedanta led the losses, dropping 2 per cent each. NMDC, National Aluminium, Hindalco, Jindal Stainless, Tata Steel and SAIL lost up to 1.5%
 "Jindal Steel, JSW, Vedanta: Nifty Metal dips over 1% on China slowdown woes")
Jio Financial share exclusion from Sensex, indices postponed to Aug 31
Before opening of trading on September 1, the JFSL stock will be removed from all S&P BSE indices, including Sensex, Sensex 50, BSE 100, BSE 500, among others
 "Jio Financial share exclusion from Sensex, indices postponed to Aug 31")
VST Tillers soars 14% on pact with US firm to develop electric power tiller
The company has entered into a Master Service agreement with US-based Solectrac Inc. to jointly develop electric power tiller and other agricultural machineries
 "VST Tillers soars 14% on pact with US firm to develop electric power tiller")
Syrma hits new high on 1-yr lock-in expiry; more than doubles since listing
The stock, which listed a year ago on August 26, 2022, has surged nearly 2.5 times (143 per cent) from its issue price of Rs 220. On its debut day, the stock had closed with a 41 per cent gain
 "Syrma hits new high on 1-yr lock-in expiry; more than doubles since listing")
Ashish Kacholia buys 1 mn shares of this auto company; stk up 43% in 2 days
Ace investor Ashish Rameshchandra Kacholia bought 1.03 million shares os Universal Autofoundry on Thursday
 "Ashish Kacholia buys 1 mn shares of this auto company; stk up 43% in 2 days")
HDFC Bank, Uflex among 5 oversold stocks you should avoid accumulating
The trend among stocks in oversold regions remains highly fragile and could see more downside ahead
 "HDFC Bank, Uflex among 5 oversold stocks you should avoid accumulating")
Escorts Kubota hits new high, surges 8% in 2 days in weak market
With the rapid pace of urbanisation and modernisation in India, the future seems bright for Railway Equipment business Division as Indian Railway network is growing at a healthy rate
 "Escorts Kubota hits new high, surges 8% in 2 days in weak market")
EIH hits 52-week high as promoter Oberoi Group partners Reliance Industries
Reliance Industries and The Oberoi Hotels and Resorts will jointly manage three properties across India and the UK
 "EIH hits 52-week high as promoter Oberoi Group partners Reliance Industries")
Kaynes up 14%, hits record high on Rs 3,750 crore MoU with Karnataka Govt
Kaynes will setup Semiconductor Assembly & Testing (OSAT) facility and Printed Circuit Board (PCB) manufacturing plant through its step down subsidiaries.
 "Kaynes up 14%, hits record high on Rs 3,750 crore MoU with Karnataka Govt")
Paytm rallies 4%, hits 18-month high after nearly 23 mn shares change hands
The stock has so far rallied 77 per cent in 2023 as against a 6.3 gain on the BSE Sensex.
 "Paytm rallies 4%, hits 18-month high after nearly 23 mn shares change hands")
Vodafone Idea rises 6% in weak market; stock surges 12% in 5 days
According to reports, the debt-ridden telecom operator plans to clear about Rs 2,400 crore of dues to the government by September
 "Vodafone Idea rises 6% in weak market; stock surges 12% in 5 days")