Page 5 - Indian Market

Stock Market Highlights, May 8: Benchmarks end flat after choppy session; Mid, SmallCap indices rise

Stock Market Highlights on May 8: The S&P BSE Sensex, after gyrating 611 points intraday, ended at 73,466, down 45 points. The Nifty, on the other hand, settled unchanged at 22,303

Sebi comes out with strict rules to tackle misconduct by employees

Capital markets regulator Sebi has put in place stricter norms to tackle any misconduct and corrupt practices by its employees. Amending rules governing its employees' services, the markets regulator said that a competent authority can "direct recovery from an employee of the amount of pecuniary loss caused to the Board (Sebi) by all means available to the Board under the law". This amount could be recovered from the pay and other amounts due to the staffers. This step can be taken if an employee is allegedly acted for an improper purpose or in a corrupt manner or exercised his/her powers with corrupt motive. In its notification dated May 6, Sebi said that the new framework would be also applicable to those employees who have resigned or retired from the services or have completed the tenure of deputation. The new rules have been made applicable from the same date. It, further, said, the gratuity payable to an employee may be withheld either in full or part, during the pendency of

Multicap mutual funds gain currency as investors seek diversification

Schemes see highest flows in three years at Rs 2,400 crore in February

Stone Sapphire India to invest Rs 1,000 cr in homewares plant in Baroda

Toys and stationery manufacturer Stone Sapphire India will invest Rs 1,000 crore to set up a manufacturing facility for homewares like glassware, sippers, dinnerware etc, in Baroda.. Talking with PTI, Stone Sapphire India Pvt. Ltd. (SSPL) Chairman Vick Rana said that homeware products available in India are either for the lower class or very high-end for the elite and leave a huge vacuum for middle-class consumers. "Our work on new plant and capacity expansion has already begun in Baroda which is focused on the homeware segment. We are investing Rs.1000 crore on this expansion," Rana said. The Baroda plant will manufacture small kitchen appliances, metal cookware, and drinkware. This will help increase not just the production capacity for the Indian market but also increase exports by at least 50 per cent, thereby making products in India for the world, he stated.. Rana further said this expansion will help the company increase its turnover to Rs 1,000 crore by 2025-26 from Rs 250

Near-term upsides priced into stocks of oil marketing companies

Overall, IOCL and BPCL reported a net profit of Rs 8,063 crore and Rs 3,397 crore respectively, well ahead of Q3FY23 PAT of Rs 448 crore and Rs 1,960 crore

Sebi ups scrutiny of issue documents amid a rise in IPO in market: Reports

"The regulator has returned at least six public offer documents, as Sebi observed companies are misleading in their reasons for fundraise," said the first of the four people cited above

Mutual fund equity deployment tops Rs 1 trillion in 5 months, shows data

The MF deployment in equity funds is linked to the investor inflows into equity and hybrid funds. In the last two months, equity schemes have received a net of Rs 38,800 crore

Swiss GRC targets revenue of $10 million from Indian market in FY25

Switzerland-based software company Swiss GRC Tuesday announced the launch of its operations in India and expects a revenue of USD 10 million (about Rs 83 crore) in FY2025. SwissGRC co-founder and CEO Besfort Kuqi said India has a complex regulatory landscape and industry-specific regulatory compliance requirements, and it is also bringing an increased emphasis on corporate governance. "SwissGRC can help Indian entities navigate this growing landscape safely. We have been getting leads from Indian companies, and Channel partner enquiries have increased in the past year," he said while announcing the launch of its operations in India. "We have already appointed resellers and implementation partners in India. We are targeting 4-5 channel partners to reach USD 10 million in FY 2025. We should be ready in 2-3 months to start operating. "BFSI (Banking, Financial Services, and Insurance) is our main target, but sectors like healthcare, IT and technology, manufacturing, telecom, and energy

Art galleries full and values surging: 2024 could set a new record

The growing influence of the India market can no longer be ignored

Waiting for correction not right approach for India: Amundi group CIO

The US market is pricing in a perfect environment - anticipating inflation to recede to 2 per cent and the Federal Reserve to substantially cut interest rates, Mortier said

L&T's Heavy Engineering unit bags 'significant' orders in India, overseas

Larsen & Toubro (L&T) on Tuesday said that its arm Heavy Engineering has bagged 'significant' orders in the domestic and international markets. The company did not disclose the value of orders. However, according to company, the value of significant order is between Rs 1,000 crore and Rs 2,500 crore. "L&T Heavy Engineering (HE)'s Modification, Revamp and Upgrade (MRU) business segment has bagged a major order from a key oil and gas customer...for their important debottlenecking project. For the last couple of years, MRU business has concentrated on Middle East opportunities and this order is an important milestone for MRU business in the Middle East," the company said in a filing to BSE. In another development, MRU business has also secured the Coke Drum critical repair project from (Indian Oil Corporation Ltd) IOCL Gujarat Refinery, according to the filing. The company has also secured orders for several critical equipment in the process plant equipment segment ...

India's sudden stock, currency market holiday risks denting global image

The inauguration of the Ram temple in northern India on Monday marks a new milestone in Modi's project of reshaping the country into a more avowedly Hindu nation

Strong growth rates in Q3FY24 hold more target gains for ICICI Lombard

The growth may be driven by a pickup in the motor segment as competition eases and an increased focus on retail health. Merger synergies could result in higher yields

Rupee, govt bonds gain post lower-than-expected December CPI data

The fall in US Treasury yields and foreign portfolio investor (FPI) inflows further aided rupee and bonds

Stable macro, elevated earnings growth to support equities in 2024: Chawla

First half of the current financial year witnessed strong earnings growth of about 30 per cent for the Nifty50 index, says Chawla

India is politically stable, our investment growing faster here: NTT CEO

India is a highly skilled and politically stable market that is giving high return on investments for data centre business, a senior official of NTT Global Data Centers and Submarine Cable company said on Thursday. The company announced the setting up of a new data centre campus in Noida with a total planned capacity of 52.8 megawatt critical IT load. NTT Global Data Centres and Submarine Cable CEO and President, Doug Adams, said Europe is the biggest market for the company, followed by the US, and Asia. However, he said the company's growth in India in the past two years was faster than in other markets. In the last two years, the company has added 44 MW of data centre capacity in Europe and 268 MW in India. "This shows that we are growing faster in India than other markets. It is a high return on investments. We have very strong growth and this is a politically very stable market that we are committed to growing," Adams said. The Noida data centre, spread across 300,000 sq ft,

Expected returns

Sustained govt capex will be crucial for some stocks

Banks bid 3.2 times against notified amount of Rs 50,000 cr at VRR auction

Market participants speculate that this might be the last VRR auction conducted by the central bank as the liquidity condition is expected to improve in a few days due to government spending

Diageo India focuses on value over volumes business, says CIO Damodaran

Vikram Damodaran, Chief Innovation Officer (CIO), Diageo India, talks about the company's growth strategy and expansion plans, in an interview with Ayushman Baruah and Aneeka Chatterjee in Bengaluru

Auto sector to take a V-turn in FY25 on election winds, new models

Luxury car segment will continue to rise its EV penetration. However, the tipping point is still a few years away. Customers require convincing on ownership benefits and hassle-free experience