Page 3 - Market

Markets to focus on macro data, foreign investors activity: Analysts

Macroeconomic data announcements, global trends and trading activity of foreign investors would dictate the equity markets this week, analysts said. Marketmen will also focus on the Annual General Meeting of Reliance Industries Ltd which will be held on Monday. "This week's focal point is the eagerly awaited Reliance Annual General Meeting (AGM) on Monday, August 28. This event is poised to have some impact on the market's trajectory. Shifting to the macroeconomic landscape, India is set to reveal its Q2 GDP figures on Thursday, shedding light on the nation's economic performance. "Manufacturing Purchasing Managers' Index (PMI) data will be disclosed on Friday," said Santosh Meena, Head of Research, Swastika Investmart Ltd. He further added that Friday will feature the disclosure of the US unemployment rate and nonfarm payroll statistics. Cues from China, foreign investor activities, and fluctuations in the dollar index and US bond yields will play a pivotal role in shaping market

JSW Investments divests 1.27% in JSW Energy for Rs 717 cr via open market

Promoter JSW Investments on Wednesday pared a 1.27 per cent stake in JSW Energy for Rs 717 crore through open market transactions. GQG Partners, Washington State Investment Board, AustralianSuper, Reliance Trust Institutional Retirement Trust Series Twelve, Witan Investment Trust Plc, and Alliance Trust Plc, among others, were the buyers of the shares of JSW Energy. According to the block deal data available with BSE, JSW Investments offloaded 2.10 crore shares, amounting to a 1.27 per cent stake in JSW Energy. The shares were disposed of at an average price of Rs 341.7 apiece, taking the aggregate transaction value to Rs 717.57 crore. Post the transaction, the shareholding of JSW Investments reduced to 18.95 per cent from a 20.22 per cent stake in JSW Energy at the end of the June quarter. Shares of JSW Energy rose 6.66 per cent to close at Rs 368.10 apiece on BSE. On Monday, GQG Partners Emerging Markets Equity Fund acquired more than 1.19 crore shares of JSW Energy for Rs 411

Redcliffe Labs aims to scale up operations, go public in 2025-26: Founder

Diagnostics platform Redcliffe Labs is looking to scale up its operations with 250 laboratories and 10,000 collection centres by 2025 and plans to go public in 2025-26, according to its founder and Managing Director Dheeraj Jain. The company, which commenced operations in 2018, has 81 laboratories and over 2,000 collection centres in small cities and towns. Redcliffe Labs, which has raised USD 80 million so far, has set an ambitious target of having 700 laboratories and 25,000 collection centres by 2027-28. In an interaction with PTI, Jain said the short-term target is to have 10,000 collection centres and 250 laboratories by 2025. He noted that the majority of the expansion will be in Tier II, Tier III and Tier IV locations across states like Uttar Pradesh, Madhya Pradesh, Rajasthan, Bihar, Jharkhand and Chattisgarh which have less developed infrastructure for diagnostics. "We are also looking at simplifying the reports with AI technology, going deeper in states where we are pres

Financial services attract bulk of FPI flows in July's second half

They also bought shares worth Rs. 1,609 crore in auto and auto components and Rs. 1,520 in construction stocks

Yatharth Hospital gains 11% on debut; Concord IPO subscribed 2.3x on day 2

Concord had allotted shares worth Rs 465 crore to anchor investors at Rs 741 per share, the top-end of the price band

Alibaba to stay on sidelines of Ant Group's $6 billion stock buyback

Alibaba said in an exchange filing it won't take part in Ant's plan to buy back as much as 7.6% of its stock, which the latter's board has approved

RBI maintains a pause on rates in step with global markets - it helps

The markets have been on a high for the past few sessions, particularly the Nifty, which consistently touched and even crossed the 18,000 mark earlier this week

Sebi notifies disclosure rules; asks cos to confirm or deny market rumour

To streamline the disclosure requirements, Sebi has notified rules asking the top 100 listed companies by market capitalisation to confirm, deny or clarify any market rumour reported in the mainstream media from October 1. Further, for the top 250 listed entities, the rule will kick in from April 1, 2024, the Securities and Exchange Board of India (Sebi) said in a notification. These companies will have to "confirm, deny or clarify any reported event or information in the mainstream media which is not general in nature and which indicates that rumours of an impending specific material event" are circulating amongst the investing public, within 24 hours from the reporting of the information. To strengthen the corporate governance at listed entities, Sebi came out with a framework to address the issue of certain shareholders enjoying special rights perpetually. Any special right granted to the shareholders of a listed entity will be subject to the approval of the shareholders in a ..

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

Sebi cancels Siddhi Vinayak Commodities' registration in NSEL case

Markets regulator Sebi on Tuesday cancelled the registration of Siddhi Vinayak Commodities for facilitating its clients to trade in illegal paired contracts on the National Spot Exchange Ltd (now defunct). The act of the noticee (Siddhi Vinayak Commodities) of executing trades in the 'paired contracts', which did not have requisite regulatory approval, raises doubts on the competence of the noticee to act as a registered securities market intermediary, Sebi said in the order. "I hold that the noticee does not satisfy the 'fit and proper person' criteria under the norms and therefore, the continuance of the noticee as a broker will be detrimental to the interest of the securities market," Sebi's Executive Director Anand R Baiwar said in the order. Sebi has asked the broker to allow its existing clients to withdraw or transfer their securities or funds held in its custody within 15 days. In case of failure of any clients to withdraw or transfer their securities or funds within this .

Sebi reconstitutes intermediary advisory committee for legal framework

Sebi has reconstituted its intermediary advisory committee, which suggests on matters pertaining to changes in legal framework and enhancing transparency in systems and procedures of market intermediaries including stock brokers, depository participants and clearing members. Rejigging its committee, the capital markets regulator said the panel will continue to be chaired by S Ravindran Jain, former executive director at Sebi. Also, the regulator has inducted new members in the panel. The 21-member committee has representation from the brokerage industry, financial institutions, legal fields and Sebi's members, as per the information available with the markets watchdog. The regulator has inducted several new members including Nithin Kamath, founder and chief executive officer (CEO) of Zerodha Broking and Groww's CEO Lalit Keshre. Further, Ashish Chauhan, managing director and CEO of National Stock Exchange (NSE); Sundararaman Ramamurthy, MD and CEO of BSE; Narendra Wadhwa, President

Sebi releases model tripartite with respect to share transfer agent change

Markets regulator Sebi on Thursday came out with a model tripartite agreement for the issuer company, existing share transfer agent and new share transfer agent. Under Sebi norms, in case of any change or appointment of a new share transfer agent, the listed entity should enter into a tripartite agreement. The pact has to be signed by the existing transfer agent, the new share transfer agent and the listed entity. In this regard, the watchdog has come out with a "model tripartite agreement has been prepared in consultation with Registrar Association of India (RAIN) and some issuer companies". According to a circular, Registrar and Share Transfer Agents (RTAs) and listed companies have been asked to publish the format of the tripartite agreement on their respective websites. RTAs have been advised to submit compliance with the direction by June 1, along with the link of their websites containing the format of the tripartite agreement. They have also been asked to make necessary ...

Zomato shares give up intra-day gains to settle lower on profit booking

Shares of Zomato pared all intra-day gains and ended lower amid fag-end selling at the counter on Monday as investors indulged in profit-taking even as its net loss narrowed in the fourth quarter. The stock climbed initially but finally settled 1.50 per cent lower at Rs 63.57 on the BSE. During the day, it jumped 3.57 per cent to Rs 66.85. The company's consolidated net loss narrowed to Rs 187.6 crore in the fourth quarter ended March 2023, on the back of robust revenue growth. At the NSE, it fell 1.55 per cent to settle at Rs 63.50 after climbing 3.64 per cent to Rs 66.85 during the day. In traded volume terms, 112.11 lakh shares of the firm were traded at the BSE and over 14.70 crore shares at the NSE during the day. Its consolidated net loss narrowed to Rs 187.6 crore in the fourth quarter ended March 2023, on the back of robust revenue growth. The company had posted a consolidated net loss of Rs 359.7 crore in the same period of the previous fiscal, Zomato said in a regulator

CG Power and Industrial Solutions' Q4 profit after tax rises to Rs 428 cr

CG Power and Industrial Solutions on Monday said its consolidated profit after tax (PAT) rose multi-fold to Rs 428.22 crore in March quarter 2022-23 on account of increased income. It had reported a PAT of Rs 111.65 crore for the year-ago quarter, the company said in a BSE filing. Total income surged to Rs 1,917.05 crore from Rs 1,492.77 crore in January-March FY22. Total expenses rose to Rs 1,654.63 crore from Rs 1,358.03 crore a year ago. CG Power is an engineering conglomerate with diverse portfolio of products, solutions and services for power and industrial equipment and solutions.

J&K announces Rs 560 cr project to create a robust market ecosystem

Jammu and Kashmir administration has announced a Rs 560-crore project under the Holistic Agriculture Development Programme (HADP) to strengthen the existing market infrastructure and create a robust market ecosystem to boost the region's economy and benefit farmers. The project aims to improve the terms of trade (ToT) in favour of farmers, improve the efficiency and effectiveness of the market ecosystem, and minimize value loss while maximizing societal welfare. "Jammu and Kashmir government announces Rs 560 crore investment in agriculture and allied sectors under HADP to strengthen the market ecosystem and benefit farmers and consumers", Additional chief secretary Agriculture production department, Atal Dulloo told PTI. Jammu & Kashmir is implementing this project under the programme that aims to strengthen the existing market infrastructure and create a robust market ecosystem that caters to the needs of all stakeholders, he said. The agriculture and allied sectors in the Union .

Sebi levies Rs 11 lakh penalty on 7 entities for violating market norms

Capital market regulator Sebi on Monday levied fines totalling Rs 11 lakh on seven entities for flouting regulatory norms in the matter related to SS Organics Ltd (now known as Oxygenta Pharmaceutical Ltd). The regulator slapped a fine of Rs 5 lakh on SS Organics Ltd (SSOL) and Rs 6 lakh on six individuals -- Sai Sudhakar Vankineni, D Sadasiva Reddy, Gunreddy Krishna Reddy, Muralidhar Rambathri, Rajasekhar Reddy Puchakayala and Raghavender Rao. The order came after Sebi conducted an examination in respect of the process followed by SSOL for approval and disclosure of related party transactions with ARR Capital Investment Pvt Ltd. The focus of the examination was to ascertain if there was any possible violation of LODR (Listing Obligations and Disclosure Requirements) rules. The regulator found that a loan transaction of Rs 15 crore executed between ARR and SSOL, which was further extended to Rs 35 crore, was more than the turnover of the firm for FY2019-20. Hence, the transaction

Wheat prices fall by Rs 5/kg after launch of open market sale: Food Secy

Union Food Secretary Sanjeev Chopra on Wednesday said the prices of wheat in wholesale and retail markets have come down by about Rs 5 per kg after the Centre's decision to sell 3 million tonnes of the grain in the open market, and asserted that more steps will be taken if required to ease rates. The government is closely monitoring the prices of wheat and atta (wheat flour) and, if needed, will take more steps, including offering more wheat under the Open Market Sale Scheme (OMSS), to bring down the prices and provide relief to consumers, Chopra told reporters here. He said the government is not considering any proposal as of now to lift the ban on wheat exports, which was imposed in May last year after a sharp fall in its procurement. "From the time the OMSS was announced in January, wheat prices have come down. Wheat prices in wholesale markets are ruling less than Rs 2,500 per quintal," he said, and hoped that the prices would fall further in the coming days. The government of

Adani group stocks price surge after $113 billion market value wipeout

-Shares in India's Adani Group rallied on Tuesday a day after it prepaid some loans, bringing relief to investors that have seen $113.6 billion wiped off.

Adani shelves $122 mn bond plan after Hindenburg report cause market rout

Adani Enterprises Ltd. has shelved a plan to raise as much as 10 billion rupees ($122 million) via its first-ever public sale of bonds following a market rout

TMS Ep358: Budget expectations, Soumya Mohanty Q&A, markets, short-selling

What are citizens' expectations from the Budget? What does Kantar MD hope for consumer goods firms? What do bond market investors expect in Budget? What is short-selling? All answers here