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Alembic Pharmaceuticals clinches eight USFDA approvals in Q3 FY24

The same day, Alembic Pharma's share price rose to 3.55 per cent, ending the day's trade at Rs 792 apiece on the BSE

CK Birla Group's Birlasoft names Manjunath Kygonahally as overseas CEO

Birlasoft appointed Manjunath Kygonahally as the Chief Executive Officer (CEO) for the Rest of the World (ROW) region. Kygonahally will be based in the United Kingdom

NSE chief asks investors to avoid pitfalls of high-risk derivatives

The National Stock Exchange (NSE) chief Ashishkumar Chauhan on Friday cautioned investors against high-risk derivatives or frequent trading in the stock market. "Avoid the pitfalls of high-risk derivatives or frequent trading in the stock market. Be a committed participant in India's growth story, and pave the way for a brighter future. Long term investments usually yield better results based on past experiences," the exchange's MD and CEO Chauhan said in a message to investors. At the same time, he asked investors to deal only with registered intermediaries and never invest in unregulated products. "Investment through the stock market is meant for long-term wealth creation. An unpleasant experience can dishearten even the most resilient investors, making it crucial to tread with caution if you are new to the stock market or not an expert," he added. Last month, Sebi chairperson Madhabi Puri Buch stated that she was 'confused and surprised' at investor interest in Futures and Optio

Indian shares, bonds likely to continue rallying in 2024 on foreign inflows

Banks, information technology firms and metals will lead India's stock rally, with some push from defence and renewables, a market expert said

Financial risk, reward, goal: Here's the right way to book profit

Don't try to excessively time the market or exit an investment because others have done so, say experts

NSE says 7 passive funds tracking Nifty indices launched in Japan, Korea

The National Stock Exchange (NSE) on Wednesday said seven passive funds tracking Nifty Indices have been introduced in Japan and Korea this year, suggesting a strong demand from global asset managers for launching such India-focused products. Of these, six products are tracking Nifty 50 and one product is tracking Nifty50 2x leverage index. "These new products have garnered Assets under Management (AUM) of about USD 550 million," the National Stock Exchange (NSE) said in a statement. At present, there are 21 passive funds tracking Nifty Indices outside India. In addition, there are 270 passive funds tracking various Nifty Indices in India. In the last 10 years, the total AUM of passive funds tracking Nifty Indices in India and outside has increased to about USD 70 billion in November 2023 from about USD 1 billion in November 2013, growing at an annualized rate of 53 per cent. "We are seeing a strong demand from global asset managers for launching India-focused passive products. Th

Sensex tumbles 931 pts, Nifty holds 21,150; SmallCap index sheds 3.4%

Closing Bell on Wednesday December 20: Sectorally, the Nifty Media index tumbled 4.86 per cent, the Nifty PSU Bank index 4.2 per cent, the Nifty Metal 4 per cent

Nifty, Sensex could see another 8-10% upside in 2024: HDFC Securities

The brokerage said its preferred sectors are large-cap banks, industrial and real estate, power, autos, pharma, OMCs, gas, and capital markets

RBZ Jewellers IPO to open on Tuesday with price set at Rs 95-100 per share

RBZ Jewellers on Monday said it has fixed a price band of Rs 95-100 per share for its initial share sale that will open for public subscription on December 19. The three-day Initial Public Offering (IPO) will conclude on December 21, the company said in a statement. The IPO is entirely a fresh issue of 1 crore equity shares with no offer for sale (OFS) component. The Ahmedabad-based B2B and retail jewellery firm would raise Rs 100 crore through the issue at the upper end of the price band. Proceeds from the issue will be utilised for funding the working capital requirements of the company and for general corporate purposes. The company's revenue from operations rose 14 per cent to Rs 289.6 crore in fiscal 2023 from Rs 252.5 crore in fiscal 2022. Besides, profit after tax surged 55 per cent to Rs 22.43 crore in fiscal 2023 from Rs 14.48 crore in the preceding financial year. Arihant Capital Markets Ltd is the sole book-running lead manager to the issue. The equity shares are propo

NSE likely to defer the internal deadline for trading hour extension

Bourse was eyeing a March rollout

Why investing in IPOs is risky and how you can make a safe market bet

Limited information and rich valuations are two key risks investors must watch out for

Tata Sons likely to mop up Rs 12,284 crore from TCS share buyback

Rs 17K cr offer at Rs 4,150 per share to open on Dec 1

IOC, Gail fail to meet listing norms; fined for second straight quarter

State-owned oil and gas giants including IndianOil and GAIL (India) Ltd have been slapped with fines for the second quarter in a row for failing to meet listing requirements of having the requisite number of independent directors on board. Stock exchanges have fined oil refining and fuel marketing giant Indian Oil Corporation (IOC), explorers Oil and Natural Gas Corporation (ONGC) and Oil India Ltd, gas utility GAIL, refiners Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), and Engineers India Ltd Rs 5.42 lakh, stock exchange filings showed. In separate filings, the companies detailed the fines imposed by the BSE and NSE but were quick to point out that appointment of directors was done by the government and they had no role in it. The fines were for not having the requisite independent directors in the second quarter. They had faced fines for the same reason in the first quarter as well. While the companies have now been slapped with a unifor

KIOCL requests stock exchanges to waive penalties of about Rs 17 lakh

State-owned KIOCL on Thursday requested stock exchanges BSE, NSE and MSE to waive about Rs 17 lakh fine imposed on the company for non-compliance with norms related to appointment of independent directors. The fine levied by exchanges has no impact on the financial, operation or other activities of the company, KIOCL said in a BSE filing. The non-compliance with norms on the composition of the board was neither due to any negligence/default by the company nor within the control of KIOCL's management, and continuous efforts were made to meet the compliance requirements. "NSE, BSE and Metropolitan Stock Exchange of India (MSE) have levied fine of Rs 5,42,800 each (incl GST) for the non-compliance with regulation-17(1) i.e., half of the board was not independent, for the quarter ended September 30, 2023," KIOCL said. It further said the company is a government-owned entity where President of India has the power to appoint directors (including independent director) on the board. All .

Firms dither on hiring as labour market stagnates, says NCAER survey

The 126th round of the survey covering 500 firms was conducted in September, with support from the National Stock Exchange (NSE)

NSE equity cash, derivatives segment turnover sees first fall in 12 months

During the month, the benchmark Nifty came off by as much as 5 per cent as FPIs accelerated their selloff with the 10-year US Treasury yields breaching 5 per cent

Institutional shareholder dissent in Nifty-50 firms drops by 30% this year

The last year saw 63 dissenting resolutions, constituting 11.19 per cent of the total, while this year it decreased to 44, representing 9.24 per cent of the total resolutions presented

Diwali Muhurat Trading 2023 to take place on Nov 12 from 6 pm to 7:15 pm

Leading stock exchanges BSE and NSE will conduct a one-hour special muhurat trading session on the occasion of Diwali on November 12. The symbolic trading session will be held between 6 pm and 7.15 pm. This includes a 15-minute pre-market session, the stock exchanges said in separate circulars. The session also marks the beginning of a new Samvat -- the Hindu calendar year that starts on Diwali -- and it is believed that trading during the 'muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders. Market analysts said that Diwali is considered to be the ideal time to start anything new. Investors are said to benefit from trading during this session all through the year. Since the trading window is only open for an hour, markets are known to be volatile. The focus might not be on profitability as much as it might be on the gesture, they added. Trading would take place across various segments like equity, commodity derivatives, currency derivatives, eq

Westlife Foodworld plunges more than 6% after Q2 net profit falls

Shares of Westlife Foodworld Ltd plunged more than 6 per cent on Friday a day after the company reported a 29.05 per cent decline in its consolidated net profit to Rs 22.37 crore for the second quarter. Westlife Foodworld's subsidiary Hardcastle Restaurants is the master franchisee of McDonald's restaurants in West and South India. The stock of the company tumbled 6.22 per cent to Rs 827.95 apiece on the NSE. On the BSE, shares of Westlife Foodworld declined 5.93 per cent to Rs 827.25 per piece. Meanwhile, the BSE Sensex jumped 538.10 points or 0.85 per cent higher to 63,686.25 points, while Nifty climbed 163.35 points to 19,020.60. Westlife Foodworld Ltd on Thursday reported a 29.05 per cent decline in consolidated net profit to Rs 22.37 crore for the second quarter ended September 2023 due to challenging market conditions. The company had posted a net profit of Rs 31.53 crore in the July-September quarter a year ago, the company said in a regulatory filing. However, the compan

Equity market likely to remain skittish as risks mount, say experts

Experts cite record-high US bond yields, geopolitical uncertainties, and earnings disappointments as key concerns