Page 30 - Bse

JG Chemicals makes weak market debut following IPO, shares decline 17%

Shares of JG Chemicals Ltd on Wednesday ended with a discount of nearly 17 per cent against the issue price of Rs 221. The stock made its debut at Rs 211, lower by 4.52 per cent, from the issue price on the BSE. During the day, it tanked 18 per cent to Rs 181.20. Shares of the company ended at Rs 184.65, down 16.44 per cent. At the NSE, shares of the company listed at Rs 209, a discount of 5.42 per cent. It ended at Rs 183.70, lower by 16.87 per cent. The company's market valuation stood at Rs 723.57 crore. In the broader equity market, the 30-share BSE Sensex ended 906.07 points lower at 72,761.89, while the Nifty declined 338 points to 21,997.70. The Initial Public Offer (IPO) of JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday. The Rs 251.2 crore IPO was in a price range of Rs 210-221 a share. The zinc oxide manufacturer's initial public offer had a fresh issue of shares of up to Rs 165 crore and an offer for sale of up to 39 lakh shares. The .

Markets log biggest fall of month amid declines in banking heavyweights

Nervousness ahead of crucial data pull indices down

Sebi warns Vedanta for publishing 'unlisted ultimate holding' firm's info

Mining major Vedanta on Thursday said it has received an administrative warning from markets regulator Sebi for "publishing information related to its unlisted ultimate holding company". Vedanta received a letter from NSE on March 6, 2023, annexing a letter dated February 29, 2024, issued by the Securities and Exchange Board of India (Sebi), according to a regulatory filing. The company has been directed to place the said letter before its board and take necessary corrective steps to strengthen the internal control for corporate announcements/ press releases, it said without divulging any further information. On the details of the violations alleged to be committed, the company said the letter is "in respect of it publishing information related to its unlisted ultimate holding company". New Delhi-based Vedanta Ltd is a diversified natural resources company with interests in oil and gas, aluminium, copper, zinc, lead, silver, iron ore and steel.

Anil Agarwal's Vedanta receives an administrative warning from Sebi

Vedanta said that the development will have no impact on financial, operational or other activities of the company, quantifiable in monetary terms to the extent possible

Investors subscribe JG Chemicals IPO 27.78 times on last day of offer

The initial public offer (IPO) of JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday. The Rs 251.2 crore IPO received bids for 22,69,11,245 shares against 81,68,714 shares on offer, according to data available with the NSE. The portion for non-institutional investors received 46.32 times subscriptions while the quota for Qualified Institutional Buyers (QIBs) subscribed 32.09 times, and the category for retail individual investors (RIIs) attracted 17.43 times subscriptions. The zinc oxide manufacturer's initial public offer proposed a fresh issue of up to Rs 165 crore shares and an offer for sale of up to 39 lakh equity. The IPO was in a price range of Rs 210-221 a share. JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals' material subsidiary BDJ Oxides, and Rs 35 crore will be used for funding the long-term working

BSE may buy out S&P Dow Jones Indices' entire 50% stake in joint venture

The move follows a long dispute between the two bourses over exiting the JV, which is responsible for compiling and maintaining popular Sensex and Bankex indices

Bajaj twins, IT shares drag Sensex 195 pts, Nifty near 22,350; TaMo up 3.6%

Stock market highlights on March 5, 2024: Tata Motors advanced 3.58 per cent, Bharti Airtel added 3 per cent, and SBI 1.6 per cent

Apis Partners sells shares of insurance firm Star Health for Rs 553 crore

Private equity firm Apis Partners on Friday sold shares of health insurer Star Health and Allied Insurance Company for Rs 553 crore through an open market transaction. London-based Apis Partners through its affiliate Apis Growth 6 Ltd disposed of shares of Star Health on the BSE. According to the bulk deal data available with the BSE, Apis Growth 6 offloaded 1,00,00,000 shares of the company. The shares were sold at an average price of Rs 553.01 apiece, taking the deal size to Rs 553 crore. Meanwhile, ICICI Prudential Life Insurance Company acquired 30 lakh shares of Star Health and Allied Insurance through a bulk deal on the BSE. In a separate transaction, Apis Partners offloaded shares of Star Health and Allied Insurance Company for Rs 551 crore through open market transactions. Apis Growth 6 disposed of 99,60,728 shares of Star Health in two tranches at an average price of Rs 553 apiece, as per the block deal data on the BSE. This took the deal value to Rs 550.82 crore. Thes

FPI inflows remain muted in February amid high valuations, shows data

Overseas funds seen favouring less expensive Korea, Taiwan markets

How long will the bull run continue for PSU banks?

In the past one year, the S&P BSE Bankex has been up 17.63 per cent and the Bank Nifty 17.04 per cent. But the Nifty PSU Bank index has risen close to 95 per cent!

Mcap of 8 of top 10 valued firms soars to Rs 1.1 trn; RIL biggest gainer

Market valuation of eight of the 10 most valued firms jumped Rs 1,10,106.83 crore last week, with Reliance Industries Ltd (RIL) emerging as the biggest gainer. Last week, the 30-share BSE Sensex benchmark rose 716.16 points or 0.97 per cent. RIL, ICICI Bank, Life Insurance Corporation of India (LIC), ITC, and Hindustan Unilever Ltd (HUL) were among the gainers while Tata Consultancy Services (TCS) and Infosys saw a combined erosion of Rs 38,477.49 crore in market valuation. Reliance Industries added Rs 43,976.96 crore to its market valuation at Rs 20,20,470.88 crore. On Friday, shares of oil-to-telecom conglomerate hit a fresh 52-week high of Rs 2,996.15 apiece. The valuation of ICICI Bank jumped Rs 27,012.47 crore to Rs 7,44,808.72 crore, and that of state-owned insurer LIC surged Rs 17,235.62 crore to Rs 6,74,655.88 crore. The market capitalisation (mcap) of ITC rallied Rs 8,548.19 crore to Rs 5,13,640.37 crore, and that of Hindustan Unilever Ltd zoomed Rs 4,534.71 crore to Rs .

Benchmarks slip, broader indices rally; PSB, FMCG, IT stocks weigh

Stock market highlights on February 23, 2024: Asian Paints, Maruti Suzuki, HCL Tech, NTPC, SBI, TCS, JSW Steel, IndusInd Bank, Bharti Airtel, ITC, Axis Bank, and TCS were the top laggards

Sensex gyrates 1,175 pts intraday, ends 535 pts higher; Nifty tops 22,200

Stock market highlights on Thursday, February 22, 2024: The Nifty50 index hit a record high of 22,252.5 in late deals

Mcap of BSE-listed firms hits peak at Rs 3.9 trn, investors add Rs 2.2 trn

Investors became richer by Rs 2.20 lakh crore on Monday and the market capitalisation of BSE-listed firms reached an all-time high of Rs 3.91 lakh crore as buoyant sentiment sustained the stock market rally for the fifth straight session. The 30-share BSE Sensex benchmark climbed 281.52 points or 0.39 per cent to close at 72,708.16, while NSE Nifty ended at its all-time high of 22,122.25 points, up 81.55 points or 0.37 per cent from the previous close. The market capitalisation (mcap) of BSE-listed companies went up Rs 2,19,581.56 crore to reach its all-time high of Rs 3,91,69,087.01 crore. "BSE market cap touching a record high of around USD 4.7 trillion reflects the strength of the ongoing bull run and the momentum in the market. "The fact that the crucial Buffet Ratio (market cap to GDP) is signalling very high valuation at above 120 per cent is a matter of concern. But this is unlikely to halt the bull run in the near-term since flows into the market from domestic individual ..

BSE cautions stock market investors against fake social media accounts

Leading stock exchange BSE on Thursday cautioned investors against falling prey to misleading social media handles claiming association with the bourse. This came after the exchange noted that some unauthorized and fake social media handles on platforms such as LinkedIn, Twitter, YouTube, Facebook, and Instagram, are misleading the investors by impersonating BSE's official identity and falsely claiming association with the exchange. Such unscrupulous persons or entities masquerading as BSE are indulging into misusing the name and reputation of the exchange for their personal gains, the bourse said. In a statement, BSE cautioned "investors and the public at large against falling prey to such misleading social media handles/ entities and advises the investors/ public to verify the authenticity of social media handles claiming to be associated / to represent BSE." Also, it asked investors to only engage with BSE's officially verified social media handles.

NSE, BSE to hold trading session on March 2 to assess mkt infrastructure

Session to assess the preparedness for any unforeseen event, test transition to disaster recovery site

TCI Express Q3 results: Profit at Rs 32 cr, total income stands at 313 cr

TCI Express on Monday reported flat standalone net profit of Rs 32.19 crore for the December quarter. The company had posted standalone net profit of Rs 32.02 crore in the year-ago period. The standalone total income from operations of the company in the third quarter of the ongoing fiscal dropped marginally to Rs 313.83 crore from Rs 315.72 crore in the year-ago period, TCI Express said in a filing to the BSE. "In the face of continued headwinds on account of muted festive demand and long holiday season during the quarter, our commitment to operational excellence, along with a strong customer mix base, and unmatched network and efficiency, has propelled us to maintain stable profitability and margins, outperforming industry peers," the company's Managing Director Chander Agarwal said.

SBI Life Insurance buys KIMS shares worth Rs 239 cr in open mkt transaction

SBI Life Insurance Company on Tuesday bought shares of Krishna Institute of Medical Sciences (KIMS) for Rs 239 crore through an open market transaction. According to the bulk deal data available with the BSE, SBI Life Insurance Company Ltd purchased 11.49 lakh shares, representing a 1.4 per cent stake in KIMS. The shares were picked up at an average price of Rs 2,085 apiece, taking the deal size to Rs 239.58 crore. Meanwhile, ICICI Ventures' affiliate India Advantage Fund S4 I sold 10,70,545 shares at the same price. On Tuesday, shares of KIMS rose 1.93 per cent to settle at Rs 2,130.40 apiece on the BSE.

NLC India Q3 results: Profit at Rs 254 cr, income declines to Rs 3,249 cr

NLC India on Tuesday reported a consolidated profit of Rs 254.10 crore for the quarter ended on December 31, 2023. The company had posted a consolidated loss of Rs 396.35 crore in the year-ago period. The consolidated income of the company during October-December period declined to Rs 3,249.391 crore from Rs 3,982.49 crore in the year-ago period, NLC India said in a filing to BSE. In a statement, the PSU said that NLCIL incorporated a new wholly-owned subsidiary NLC India Green Energy Ltd (NIGEL) to undertake green projects. NLC India is a Navratna company under the coal ministry. Its core business is mining and power generation.

Axis Mutual Fund launches Sensex index fund, aims Rs 100 cr NFO collection

Axis Mutual Fund on Tuesday announced the launch of a new fund from which it targets to collect at least Rs 100 crore during the primary subscription period. The Axis Sensex index fund is an open-ended scheme tracking the S&P BSE Sensex, and opens on February 8 and closes on 22nd. Considering the wide spectrum of sectors and the largest companies the index covers, it offers investors a diversified portfolio and an opportunity to participate in the growth story of various sectors with a single index, said B Gopkumar, MD & CEO. On the rationale behind the fund, he said passive investing is becoming more and more acceptance today and the new fund recognises the need to provide an investment option that aligns with the evolving preferences of today's investors. Ashish Gupta, Chief Investment Officer told PTI that the fund house is targetting to raise at least Rs 100 crore during the subscription period.