Page 279 - Markets

Exchanges seek clarification on disclosure violations by Adani Group firms

Stock exchanges have sought clarification on violation of disclosure norms by Adani Group entities regarding the alleged bribery case in the US and subsequent cancellation of Kenya's airport expansion deal. In its response to the case in the US, Adani Group firms on Thursday had said "there are no allegations made against the company". On clarification with regard to Kenya cancelling airport expansion and energy deals following the US bribery and fraud indictments, the group is yet to respond to the bourses. While there was no word from Sebi officials, experts pointed out the regulator will have to definitely look into it if there are any disclosure and other violations and take necessary action. Billionaire Gautam Adani, his nephew Sagar Adani, and others have been charged by US prosecutors with allegedly being part of an elaborate scheme to pay USD 265 million (about Rs 2,200 crore) bribe to Indian officials in exchange for favourable terms for solar power contracts. The United

Investors fully subscribe Enviro Infra Engineers IPO on day 1 of offer

The initial share sale of Enviro Infra Engineers, which is involved in development of turnkey projects of sewage treatment plants and sewerage system, got fully subscribed on the first day of the offer on Friday. The initial public offering (IPO) received bids for 6,38,69,269 shares against 3,07,93,600 shares on offer, translating into 2.07 times subscription, according to NSE data. The portion for non-institutional investors attracted 2.98 times subscription while the qualified institutional buyers (QIBs) part got subscribed 2.04 times. The category for retail individual investors (RIIs) fetched 1.70 times subscription. Enviro Infra Engineers on Thursday collected about Rs 195 crore from anchor investors. The Rs 650-crore initial share sale is in a price range of Rs 140-148 apiece. The company's IPO is a combination of a fresh issue of 3.87 crore equity shares and an offer for sale (OFS) component of 52.68 lakh shares by promoters. Currently, promoters hold over 93 per cent stak

Max pain for Bank Nifty seen at 50,900; bias seems cautiously positive

F&O cues for Nov 22: Bank Nifty formed a hammer candlestick pattern on Thursday; trade above 50,650 levels can trigger a pullback towards 51,000 - 51,500 levels, says analyst from Asit C Mehta.

Wilmington Trust pays Rs 64.35 lakh to settle FPI norms violation case

Wilmington Trust Collective Investment Trust on Thursday settled a case with capital markets regulator Sebi related to an alleged violation of foreign portfolio investors' rules by paying a settlement amount of Rs 64.35 lakh. The settlement order came after the applicant (Wilmington Trust Collective Investment Trust - Lazard/Wilmington ACW Ex-US Equity Advantage Fund) proposed to settle the instant proceedings initiated against it without "admitting or denying the findings of facts and conclusions of law". "In view of the acceptance of the settlement terms, the instant adjudication proceedings initiated against Wilmington Trust Collective Investment Trust - Lazard/Wilmington ACW Ex-US Equity Advantage Fund is disposed of in terms of the settlement regulations on the basis of the settlement terms," Sebi's adjudicating officer Barnali Mukherjee said in the order. The Securities and Exchange Board of India (Sebi) conducted an examination in the matter of delay in intimation of regulato

Adani Enterprises tests Jan 2023 Hindenburg fall support; can slide 34%

Adani Enterprises stock may re-test support around its 200-WMA, like it did post the Hindenburg allegations in Jan-Feb 2023, technical chart shows.

Adani Group shares plunge up to 20% post US SEC bribery, fraud charges

Gautam Adani, along with other executives, has been charged by US prosecutors for allegedly bribing ($250 million) Indian officials.

FII flows will return to normalcy in medium-term, says Mihir Vora, TRUST MF

Foreign institutional investors are selling equities across the world, not just India, said Mihir Vora, CIO, TRUST Mutual Fund, in an email interaction with Business Standard

Options data hint at bearish bias for Nifty, Bank Nifty; FIIs trim shorts

F&O cues for Nov 21: Foreign investors open interest in Bank Nifty futures declined over 9 per cent as they net bought nearly 25,000 contracts on Tuesday, shows the NSE F&O data.

Maharashtra election 2024 outcome not a major worry for markets: Analysts

The concerns that some investors may have is that a government led by MVA could perhaps give lower priority to some of the infrastructure projects

Belrise files Rs 2,150 cr IPO, UPL announces Rs 3,377 cr rights issue

The company is considering a pre-IPO placement of up to Rs 430 crore. If the pre-IPO goes through, the amount so raised will be reduced from the general purposes portion of the issue

CIEL HR files papers for IPO, to be 2nd listed HR solutions firm in India

The public issue is a mix of fresh issue of shares worth Rs 335 crore and offer for sale of 4.74 million shares, with face value of Rs 2 each equity share.

New F&O rule to come into effect from Thursday, Nov 21; here's what changes

All new futures & options contracts to be introduced from November 21, 2024 will have an increased Lot Size owing to meet the Sebi mandate on higher contract value.

Market holiday: BSE, NSE closed on Wed, Nov. 20, amid Maharashtra elections

Market holidays November 2024: The Election Commission announced Wednesday, November 20, 2024, as polling day in Maharashtra

ITI rises 4% on bagging Rs 95 crore order from Uttarakhand govt; Details

The order is for the mining digital transformation and surveillance system (MDTSS) project

RIL, Tata Motors, Titan: Over 50% Nifty stocks trade below 200-DMA

As many as 27 out of the Nifty 50 stocks are trading below their respective long-term moving average; analysts see this as an overall weak trend in the market.

Rethinking suspension: Futures trading is not a source of inflation

The retail-to-wholesale price difference in the post-suspension period also turned out to be much higher than in the pre-suspension period

Stocks to watch, Nov. 18: Hero MotoCorp, Glenmark Pharma, Waaree Energies

Indraprastha Gas, Adani Total Gas, Reliance Industries are some stocks that will be on investors' radar today

Enviro Infra Engineers IPO to open on November 22; eyes Rs 650 crore

Enviro Infra Engineers, which is involved in the development of turnkey projects of sewage treatment plants and sewerage systems, on Monday fixed a price band of Rs 140-148 per share for its Rs 650 crore Initial Public Offering (IPO). The initial share sale will open for public subscription on November 22 and conclude on November 26. The bidding for anchor investors will open for a day on November 21, the company announced. The city-based company's proposed IPO is a combination of a fresh issue of 3.87 crore equity shares and an Offer For Sale (OFS) component of 52.68 lakh shares by promoters. Currently, promoters hold over 93 per cent stake in Enviro Infra Engineers. At the higher end of the price band, the IPO is valued at Rs 650 crore, placing the company's market capitalization at approximately Rs 2,600 crore. Proceeds from the fresh issue to the tune of Rs 181 crore will be used to meet the working capital requirements, Rs 100 crore will be used for payment of debt, Rs 30 cro

Oversold Alert: 5 stocks with RSI around 15; Colgate tests 20-year support

Asian Paints, Aurobindo Pharma, AIA Engineering, Delhivery and Colgate-Palmolive stocks were trading in oversold zone, the daily chart shows. Here are the key levels to track.

Garware Technical hits record high post Q2; board approves bonus issue

The textile product company's board approved a bonus issue of 7,94,12,676 shares of Rs 10 each