Page 40 - Bse

Sebi makes rule for upstreaming of client funds by brokers to clear corps

To safeguard clients' funds, capital markets regulator Sebi on Thursday came out with a framework that requires the upstreaming of all client funds received by stock brokers to clearing corporations. Under the framework, no clients' funds will be retained by stock brokers on an end-of-day (EoD) basis. Further, clients' funds will be upstreamed by stock brokers and clearing members to clearing corporations (CCs) only in the form of either cash, lien on Fixed Deposit Receipt (FDR) or pledge of units of mutual fund overnight schemes, Sebi said in a circular. Other than the FDRs (liened to CCs) and mutual fund overnight scheme (pledged to CCs), any remaining client funds with brokers will be upstreamed to a CC before a stipulated cut-off time. The new framework will come into effect from July 1, 2023, the Securities and Exchange Board of India (Sebi) said. With regards to upstreaming through FDRs created out of clients' funds, Sebi said stock brokers may create FDRs out of clients' fun

NSE to shift Nifty Bank F&O expiry day to Friday, weeks after BSE

BSE did not comment on the possible impact of NSE's decision on its revived volumes

Plutus Wealth acquires MTAR Technologies' shares for Rs 247 crore

Plutus Wealth Management on Monday acquired shares of MTAR Technologies for Rs 247 crore through an open market transaction. MTAR Technologies is a precision engineering solutions company. According to the bulk deal data available with the BSE, Plutus bought 13,15,000 shares of MTAR Technologies. The shares were purchased at an average price of Rs 1,880.02 apiece, taking the transaction value to Rs 247.22 crore. Meanwhile, promoters of MTAR Technologies -- Usha Reddy Chigarapalli, Anitha Reddy Dwaram and Kavitha Reddy Gangapatnam -- offloaded 11.20 lakh shares, amounting to 3.6 per cent stake in the firm. The shares were sold in the range of Rs 1,880-1,880.15 per piece, as per the bulk deal data. On Monday, shares of MTAR Technologies gained 0.19 per cent to close at Rs 1,896.90 each on the BSE.

IKIO Lighting IPO collects Rs 182 cr from anchor investors at Rs 285 apiece

LED lighting solution provider IKIO Lighting Ltd on Monday said it has mobilised Rs 182 crore from anchor investors ahead of its initial share sale that opens for public subscription on Tuesday. The company has allotted 63.84 lakh equity shares to 16 funds at Rs 285 apiece, aggregating the transaction size to Rs 182 crore, according to a circular uploaded on the BSE website. Societe Generale, Citigroup Global Markets Mauritius, Goldman Sachs, Malabar India Fund, Quant Mutual Fund (MF), HDFC MF and ICICI Prudential MF are among the anchor investors. The issue, with a price band of Rs Rs 270-285 per share, will be open for public subscription during June 6-8. The IPO of the Noida-based firm consists of a fresh issue of equity shares worth up to Rs 350 crore and an offer-for-sale (OFS) of up to 90 lakh equity stocks by promoters Hardeep Singh and Surmeet Kaur. At the upper end of the price band, the initial share sale will fetch Rs 606.5 crore. Proceeds from the fresh issuance worth

Wipro shareholders approve Rs 12,000 cr share buyback at Rs 445 apiece

IT company Wipro shareholders have approved a share buyback programme worth Rs 12,000 crore, according to a scrutinizer report released on stock exchanges on Monday. The Wipro board had approved the buyback of 26.96 crore equity shares at a price of Rs 445 apiece. According to the Scrutinizer's report on the special resolution by way of postal ballot and e-voting process, 99.9 per cent voted in favour of the share buyback resolution. "The Chairman noted the results of voting as stated above and it was declared and recorded that the special resolution as set out in the Notice of Postal Ballot dated April 27, 2023, was duly passed by the shareholders on June 01, 2023, with requisite majority," the report said. The e-voting period commenced at in the morning of May 3 and ended at 5 pm on June 1. The Board of Wipro had approved a proposal to buyback up to 26,96,62,921 equity shares, being 4.91 per cent of the total paid-up equity shares of the company for an aggregate amount not ...

Over half of NSE 500 stocks deliver 10x return in 20 years: Goldman Sachs

Some of the prominent Indian stocks that delivered over 10x total returns over a 5-year rolling period since 2000 include Westlife Foodworld, Bharti Airtel, Adani Total Gas, said the report

NSE, BSE to introduce surveillance mechanism for micro-small firms on Jun 5

To curb volatility in small-cap counters, leading stock exchanges BSE and NSE have put in place an enhanced surveillance mechanism for companies that have a market cap of less than Rs 500 crore. The Enhanced Surveillance Measure (ESM) will be effective from June 5. Sebi and exchanges in a joint meeting have decided to introduce ESM framework for "micro-small" companies (on the main board with market cap less than Rs 500 crore), the National Stock Exchange (NSE) and BSE said in two separate circulars on Friday. The parameters for shortlisting the securities under the ESM framework include high-low price variation and close-to-close price variation. Under the framework, the exchanges said, "... the trading for these securities will be settled through a trade for trade mechanism with a price band of 5 per cent or 2 per cent (if the scrip is already in the 2 per cent band)." "For securities in Stage II, the trading will be settled through a trade for trade mechanism with a price band

There is caution among retail investors, says Sharekhan's Gaurav Dua

The one-way rally in the broader market lasts for 17/18 months (on average) and is followed by a corrective phase of 18-24 months

ICICI Prudential Bluechip Fund: Consistent in outperformance and holdings

The fund's month-end assets under management increased to Rs 35,876 crore in April 2023, from Rs 21,765 crore in May 2020

Zee Media Corporation net loss narrows to Rs 45.8 cr in March quarter

Zee Media Corporation Ltd on Monday said its net loss narrowed to Rs 45.79 crore for the fourth quarter ended March 2023. The company had posted a net loss of Rs 51.45 crore in the January-March quarter of the preceding fiscal, Zee Media Corporation Ltd (ZMCL) said in a BSE filing. Its total revenue from operations fell 40.38 per cent to Rs 147.69 crore in the quarter under review from Rs 247.73 crore in the corresponding quarter of the previous fiscal. ZMCL's total expenses slipped 18.91 per cent in Q4 FY23 to Rs 178.33 crore against Rs 219.94 crore a year ago. The total income in the March quarter was Rs 161.82 crore, down 35.17 per cent. For the fiscal ended March 2023, ZMCL's net loss narrowed to Rs 68.81 crore from Rs 117.72 crore in FY22. Its revenue from operations dipped 16.87 per cent to Rs 720.62 crore in FY23. ZMCL is one of the leading news networks in India, having 14 news channels in its portfolio, including Zee News, WION and Zee Business. Shares of Zee Media ...

BSE, NSE put NDTV securities under short-term ASM framework from Tuesday

Leading bourses BSE and NSE will put the securities of NDTV, an Adani Group company, under the short-term ASM framework from Tuesday. The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio. New Delhi Television Ltd (NDTV) is shortlisted in the short-term Additional Surveillance Measure (ASM) framework Stage-I effective from May 30, the National Stock Exchange (NSE) and BSE said in two separate circulars on Monday. The move came after both bourses had put the flagship firm of the conglomerate Adani Enterprises under the short-term ASM framework on May 25. Last week, BSE and NSE removed NDTV from the long-term ASM framework. On Monday, NDTV stock jumped 5 per cent on BSE and NSE. US short-seller Hindenburg Research in its January 24 report levelled allegations of fraud and stock manipulation against the Adani group. However, a Supreme Court-appointed pan

Buy low, sell high and repeat: Timing is taking root in mutual funds

Inverse correlation between net equity MF inflows, market performance

BSE, NSE put securities of Adani Enterprises under short-term ASM framework

Leading bourses BSE and NSE will put the securities of Adani Enterprises under the short-term ASM framework from Thursday. The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio. Adani Enterprises Ltd is shortlisted in short-term Additional Surveillance Measure (ASM) framework Stage-I effective from May 25, the National Stock Exchange (NSE) and the BSE said in two separate circulars on Wednesday. Under the short-term ASM, the exchanges said, "applicable rate of margin shall be 50 per cent or existing margin whichever is higher, subject to maximum rate of margin capped at 100 per cent, with effect from May 26, 2023 on all open positions as on May 25, 2023 and new positions created from May 26, 2023." In March, NSE and BSE removed Adani Enterprises from the short-term ASM framework. On Wednesday, Adani Enterprises stock tumbled 5.90 per cent on the BSE. I

Mahindra & Mahindra sells entire stake in Mahindra CIE at Rs 447.6 a share

MCIE is engaged in the business of production and sale of automotive components to original equipment manufacturers and other customers in India and overseas

BSE, NSE remove NDTV. Adani Group firm from ASM framework from Monday

Leading bourses BSE and NSE on Friday said that NDTV, an Adani Group company, will move out of the ASM framework from May 22. On March 17, both the bourses moved NDTV from the second to the first stage of the long-term Additional Surveillance Measure (ASM) framework. The stock is to be excluded from the ASM framework effective May 22, according to two separate circulars available on the BSE and NSE websites. Last week, both the exchanges had given an exit to three Adani Group stocks -- Adani Total Gas, Adani Transmission and Adani Green Energy -- from the ASM framework. US short-seller Hindenburg Research in its January 24 report levelled allegations of fraud and stock manipulation against the Adani group, however, the conglomerate has repeatedly denied all allegations.

Sensex, Bankex derivative contracts witness record Rs 528 crore turnover

BSE on Friday said that its newly relaunched Sensex and Bankex derivatives contracts witnessed a record turnover of Rs 528 crore on their first weekly expiry on the exchange. The turnover for futures was Rs 35 crore and options saw a turnover of Rs 493 crore, the exchange said in a release. The recently relaunched S&P BSE Sensex and S&P BSE Bankex derivatives contracts clocked a turnover of Rs 528 crore on their first weekly expiry on BSE, it added. Since its launch, BSE has seen a steady increase in turnover and open interest in these contracts, which has unique expiry of Friday. These contracts witnessed wider participation with more than 125 members across India, as per the release. On Monday, BSE relaunched Sensex and Bankex derivative contracts in its bid to boost derivative trading at the country's premier bourse. The relaunch of derivative contracts comes with a reduced lot size of futures and options and a new expiry cycle of Friday against Thursday ...

Sebi slaps Rs 50 lakh fine on 10 firms for indulging in non-genuine trades

Capital markets regulator Sebi on Wednesday levied fines totalling Rs 50 lakh on ten entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. In ten separate orders, the regulator imposed a fine of Rs 5 lakh each on Auroplus Marketing Pvt Ltd, Baba Iron Industries, Atlantic Invest Advisory, Avinash V Mehta HUF, Navneet Agarwal and Sons HUF, Neeraj Gandhi HUF and Athwani Shrichand. Aviral Gupta, Ayushi Agarwal and Saloni Ruia were also penalised by the markets watchdog. The Securities and Exchange Board of India (Sebi) had observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. Thereafter, the regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. These ten entities that have been fined on Wednesday were among those who indulged in the execution of reversal trades. Reversal trades are all

Sebi slaps Rs 25 lakh penalty on 5 entities for non-genuine trades

Capital markets regulator Sebi on Tuesday slapped penalties totalling Rs 25 lakh on five entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. The regulator imposed a fine of Rs 5 lakh each on Chitrabai Vasantrao Nikam, Damayanti Jhunjhunwala, Nemichand Kasturchand Jain, Naresh Kumar Agarwal and Chandra Lakshmi Safety Glass Ltd (CLSG). Sebi had observed large scale reversal trades in illiquid stock options segment on BSE, leading to artificial volumes on the exchange. The regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The five entities that have been fined on Tuesday were among those who indulged in the execution of reversal trades. Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of generating artificial volumes, the regula

BSE relaunches Sensex, Bankex derivatives contracts to boost trading

BSE on Monday relaunched Sensex and Bankex derivative contracts in its bid to boost derivative trading at the country's premier bourse. The relaunch of derivative contracts comes with a reduced lot size of futures and options and a new expiry cycle of Friday from Thursday earlier, BSE said. The relaunch evoked a good response from market participants. Nearly 100 members participated in trading with a total turnover of Rs 53.12 crores with an open interest of 252 lots, the BSE said in a statement. Derivatives are considered to be high-risk-reward financial instruments aimed at hedging risk in the equity market. BSE had launched Sensex-30 derivatives (options and futures) for the first time in 2000. The Sensex-30 derivatives are made up of 30 of the largest and most actively traded companies on BSE. "We are relaunching two contracts Sensex and Bankex. Sensex is a well known benchmark and a barometer of India's economy. It has good performance and a good volatility profile, BSE Manag

This time we'll crack the derivatives segment: BSE MD & CEO Ramamurthy

Ramamurthy says BSE has put in place the right building blocks to make it a success this time around