Page 30 - Bse

BSE, NSE to conduct special trading session testing disruption readiness

Leading stock exchanges BSE and NSE will conduct a special trading session in the equity and equity derivative segment on Saturday to check their preparedness to handle major disruption or failure at the primary site. The special live trading session will have intra-day switch over from Primary Site (PR) to Disaster Recovery (DR) site. The exchanges said there will be two sessions -- the first from 9.15 am to 10 am from the PR, and the second from 11.30 am to 12.30 pm from the DR site. During the special session, all securities, including those on which derivative products are available, will have a maximum price band of 5 per cent. Securities already in the 2 per cent or lower price band, will continue to be available in the respective bands. "Trading members are requested to note that the exchange will conduct a special live trading session with intraday switch over from Primary Site (PR) to Disaster Recovery Site (DR) on Saturday, January 20, 2024 in equity and equity derivativ

Supreme Industries Q3 results: Profit rises 22% to Rs 256.17 crore

Plastic products maker Supreme Industries Ltd on Friday reported an increase of 22 per cent in its consolidated net profit to Rs 256.17 crore in the third quarter ended December 2023. The company had posted a net profit of Rs 210.03 crore in the October-December period a year ago, according to a regulatory filing. Its total revenue from operations was up 6 per cent to Rs 2,449.10 crore in the October-December quarter. It was at Rs 2,310.71 crore in the corresponding period of previous fiscal. Total expenses of Supreme Industries were at Rs 2,152.66 crore, up 3.82 per cent in the December quarter. Supreme Industries' total income, which includes other income, was at Rs 2,469.81 crore, up 6.5 per cent in third quarter of current fiscal. Over the outlook, its Managing Director M P Taparia said, "The company remains optimistic for business opportunities and continues to commit more capex in line with its growth plans. "Total commitments including acquisition of business of Parvati A

Nazara Technologies to raise Rs 250 cr via preferential allotment

The fundraise is part of the company's planned fundraising of Rs 750 crore that was announced earlier in financial year 24

Corporates mop up record Rs 9.58 trillion from market in 2023: Report

India Inc mopped up a record Rs 9.58 lakh crore from the market in 2023, registering an increase of 26 per cent from the year-ago period, according to market data. In 2022, fund mobilisation through corporate bonds on private placement basis stood at Rs 7.58 lakh crore, according to the data collated by Primedatabase. In terms of volume, Primedatabase said, adding there were as many as 920 issuers in 2023, which was 863 in the previous year. The data include both listed and unlisted debt which have tenor and put/call option of above 365 days. Pranav Haldea, the managing director of Primedatabase, attributed the surge to higher credit demand and liquidity constraints in the banking system. The highest mobilisation was made by the financial institutions and banks mopping up Rs 4.72 lakh crore, 29 per cent more than Rs 3.66 lakh crore raised in 2022. Also, the private sector mobilized 40 per cent more at Rs 4.45 lakh crore, compared to Rs 3.18 lakh crore in 2022, he said, adding ...

SpiceJet receives approval from BSE for Rs 2,242 cr capital infusion

No-frills carrier SpiceJet on Monday said it has received in-principle approval from the BSE for a Rs 2,242 crore capital infusion in the airline. The Gurugram-based airline also said that a significant portion of the fund infusion will be utilised to fuel the airline's growth, among others. SpiceJet has received in-principle approval from the BSE for the issuance of equity shares and warrants convertible into equity shares on a preferential basis, the airline said in a statement. This approval paves the way for a new fund infusion of Rs 2,242 crore in the airline, it said. A significant portion of the fund infusion will be utilised to fuel the airline's growth, expand its network and bring grounded planes back into operations, SpiceJet said. "We believe the fund infusion will open new avenues for SpiceJet, enabling us to capitalise on potential opportunities and contribute to the growth of the aviation sector in India," said Ajay Singh, Chairman and Managing Director of SpiceJet.

Ahead of IPO, Medi Assist mobilises Rs 351 crore from anchor investors

The company has allotted 84.08 lakh equity shares to 36 funds at Rs 418 apiece, which is also the upper end of the price band, according to a circular uploaded on BSE's website

LIC to acquire 10% stake in National Housing Board-promoted company

Life Insurance Corporation of India (LIC) on Monday said its board has approved acquiring up to 10 per cent in a company promoted by the National Housing Bank (NHB). In a regulatory filing, LIC said the board has cleared the proposal to invest in a new company, promoted by the NHB, for residential mortgage-backed securities, through equity contribution up to 10 per cent of the share capital. The investment is to be made in one or more tranches, it added. Details about the company were not disclosed. LIC has a housing finance subsidiary -- LIC Housing Finance Ltd -- that was incorporated in 1989. This company went public in 1994 and since then its stocks are listed on the National Stock Exchange (NSE) and Bombay Stock Exchange Limited (BSE).

Jaguar Land Rover Oct-Dec quarter wholesales up 27% at 101,043 units

Tata Motors-owned Jaguar Land Rover on Monday reported a 27 per cent rise in total wholesales at 1,01,043 units in the third quarter ended December 31, 2023, as compared to the year-ago period. Jaguar Land Rover (JLR) delivered the highest wholesales in 11 quarters during the period, a statement by JLR shared on BSE by Tata Motors said. Year-to-date wholesales for FY24 were 2,91,113 units, up 28 per cent year-on-year, it added. The order book continues to reflect strong demand for JLR products with 1.48 lakh client orders at the end of the third quarter. This has reduced from 1.68 lakh at the end of the second quarter, reflecting increased order fulfilment to clients and resulting in improved client waiting times for the vehicles, JLR said. Demand for Range Rover, Range Rover Sport and Defender remains particularly strong, representing 76 per cent of the order book, it added.

Shree Tirupati Balajee Agro, Vraj Iron and Steel file IPO papers with Sebi

Shree Tirupati Balajee Agro Trading Company (STB), and Vraj Iron and Steel have filed their preliminary papers with Sebi to raise funds through initial share sales. The Initial Public Offering (IPO) of STB comprises a fresh issuance of up to 1.30 crore equity shares and an Offer For Sale (OFS) of up to 36.45 lakh shares by its promoter Binod Kumar Agarwal, as per the Draft Red Herring Prospectus (DRHP). In the case of Vraj Iron and Steel, the IPO will be entirely fresh issue of equity shares worth up to Rs 171 crore. According to its DRHP, STB will use the net proceeds from the fresh issue towards debt repayment by the company and its subsidiaries -- Honourable Packaging Pvt Ltd, Shree Tirupati Balajee FIBC and Jagannath Plastics. A portion of the proceeds will also be used towards funding the incremental working capital requirements of the company and general corporate purposes. Madhya Pradesh-based STB is into manufacturing and supplying of Flexible Intermediate Bulk Container

KPI Green Energy, Emmvee ink deal for 300 MW of solar panels purchase

KPI Green Energy and Emmvee ink a major deal: Agreement reached for the purchase of 300 Megawatts of solar panels

The consensus bullish forecast

Markets and economies are complex, emerging, adaptive systems

Delightful year for IPO investors as 54 of 59 issues return 45% on average

In a year when the key equity benchmarks scaled new highs and rallied nearly 20 per cent making investors richer by close to Rs 82 lakh crore, IPO investors laughed all the way to the bank as 55 of the 59 issues gave them handsome returns of 45 per cent on average. In fact, 2023 turned out to be an outlier for primary market investors when 59 companies hit the street, raising Rs 54,000 crore, and returned over 45 per cent more than the issue prices on average, according to exchange data. This means that more than two-thirds of companies outperformed benchmark indices which rallied close to 20 per cent in the year. The average listing gain for all the 59 IPOs is 26.3 per cent and their average gain as of December 29 is 45 per cent and only four of the 59 main-board IPOs are traded below the issue price on the trading session of the year on December 29. As much as 23 of the 59 issues rallied more than 50 per cent since listing and of them, nine gave more than two-fold gains over the

Stock market investor base surges, UP upends Gujarat from the 2nd position

UP surpassed Gujarat to take the second position in 2023 by adding 33.8 per cent of new stock market investors

Record eight-year winning streak seen extending for Indian equities

That's the key takeaway from an informal Bloomberg News survey of 10 fund managers and strategists, seven of whom said the NSE Nifty 50 Index will rise in 2024

Airtel to seek reversal of Rs 24.9 lakh penalty order received under CGST

Bharti Airtel on Tuesday said it does not agree with an order it received under the Central Goods and Services Tax Act for levy of Rs 24.94 lakh penalty, and will take suitable action for rectification or reversal. The violation pertains to alleged irregular input tax credit claim from 2017-18 to 2021-22 and other related matters, Airtel said in a BSE filing. Submitting details of the orders received by the company under the Central Goods and Services Tax Act, Airtel said the order was received on December 24. The order entails a levy of a penalty of Rs 24,94,316, it said, adding, "the company does not agree with the order and will take appropriate action for rectification/reversal of the same." "The maximum financial impact is to the extent of the penalty levied," it said.

Market holiday: BSE and NSE to remain closed today on account of Christmas

Indian exchanges like NSE, BSE, MCX, and the bond market will remain shut on the account of Christmas, this is the last market holiday on a trading day in this calendar year

Indices snap 7-week winning streak; Sensex, Nifty dip despite Friday gains

Profit booking after the excellent run was cited as the primary reason for this week's market rout

Pramod Agrawal to take charge as BSE's new Chairman from January 17

The board of BSE had approved the appointment on December 13 while the market regulator granted its approval on Tuesday

Sebi likely to relax new disclosure norms around rumour verification

Legal experts said that as such disclosures will have a bearing on stock prices there is a need for tweaks in regulations addressing fraudulent trade practices

Zydus Noveltech dissolved for not generating 'meaningful revenue'

It had nil operating revenue and a net worth of Rs 10 crore as of March 31, 2023