Page 375 - Markets

Weighed by earnings hit, HDFC Bank may not perform in near-term: Analysts

Shares of HDFC Bank tumbled 3.7 per cent on the National Stock Exchange (NSE) on Wednesday after the pro-forma financials of the merged entity highlighted higher than expected hit on net worth

Stocks to Watch: RIL, RR Kabel, Tata Motors, Bank of Maha, Bharat Dynamics

Stocks to Watch today, September 20, 2023: RR Kabel is set to debut at the stock exchanges on Wednesday, becoming the first entity to make a T+2 listing

Sebi imposes Rs 35 lakh fine on MI Research for flouting regulatory norms

Capital markets regulator Sebi has imposed a fine of Rs 35 lakh on MI Research for violating regulatory norms. MI Research (Proprietor -- Ashish Jain) is a Sebi-registered Investment Adviser. The order came after Sebi conducted an examination into the business of MI Research with respect to compliance of the entity with IA (Investment Advisers) regulations. The period of examination was November 2017 to August 2019. In its order on Monday, Sebi found that MI Research had collected up to Rs 1.95 crore from 748 clients by charging them for services provided as an investment adviser. The quantum of fees charged for its services appears to be unreasonably high. However, the noticee (MI Research) had failed to comply with the basic requirements of IA rules and also promised assured returns and mis-sold his services to clients and thus, failed to act honestly and in good faith with due skill, care and diligence, and adhered to a high professional standard, appropriate standards of condu

Fiscal pressures building up; risks for the markets are rising: Jefferies

As a stock strategy, they have shifted consumer staples to underweight, and moved weight (bought into) to Bharti Airtel in their model portfolio

PSB shares rally; IOB, PSB, Central Bank, Uco Bank surge over 40% in 4 days

Nifty PSU Bank index hit a new high today, and was the top gainer among sectoral indices, up nearly 4 per cent

Sensex, Nifty end lower dragged by HDFC Bank, RIL; PSU Bank index jumps 3%

Closing Bell on Monday, September 18: The S&P BSE Sensex fell 242 points to 67,597 levels, while the Nifty50 ended below the 20,150-mark at 20,133, lower by 59 points

Titan gains 2%, hits new high on hopes of healthy operational performance

Thus far in the financial year 2023-24, Titan has outperformed the market by surging 32 per cent as compared to 15 per cent gain in the S&P BSE Sensex

Stock of this GMR Group company has zoomed over 100% in past one month

Shares of GMR Power and Urban Infra surged 10% to Rs 46.29 on the BSE in Monday's intra-day trade and have zoomed 39% in the past four trading days

Jupiter Life Line makes strong debut; lists at 32% premium over issue price

Post-listing, the stock extended gains and moved 40 per cent higher to Rs 1,028 over its issue price

Stocks to Watch on Sept 18: L&T, Voda Idea, Vedanta, BEL, Dhanlaxmi Bank,

Stocks to Watch today, September 18, 2023: L&T's Rs 10,000-crore buyback will open on Monday, September 18, at Rs 3,200 per share

NSE to introduce IRRA platform to address technical glitches, outages

To address technical glitches or outages, the National Stock Exchange will introduce an Investor Risk Reduction Access (IRRA) platform for trading members. In December last year, Sebi asked stock exchanges and clearing corporations to put in place a platform to help investors in case there is a disruption of services caused by systems belonging to trading members. The regulator asked them to make the platform operational by October 1. The IRRA platform will be available to trading members supporting internet-based trading (IBT) and Security Trading through Wireless Technology (STWT) for their investors. However, it will not be accessible for algo trading and institutional clients. The IRRA will be accessible to trading members across exchanges starting from October 3, 2023, according to an NSE circular. "To ensure seamless business continuity, trading members (TMs) are advised to maintain an updated disaster recovery (DR) site. "However, if both the primary and disaster recovery s

Midcap stocks have room to correct; buy the dips: Chris Wood

Thus far in calendar year 2023 (CY23) the Nifty Midcap 100 index has surged 29 per cent, as compared to 11 per cent gain in the Nifty 50

Mahindra & Mahindra surges 3%; market cap touches Rs 2 trillion-mark

Along with a strong order book in the SUV segment and a leading position in the domestic tractor segment, M&M is now gradually introducing its global portfolio to expand its addressable market

Cholamandalam Investment joins Rs 1-trillion market cap club; hits new high

The stock hit a record high of Rs 1,239.80, surging 7 per cent in the past two trading days

Strides soars 11% on USFDA's tentative nod to generic HIV treatment drug

The company said it received a tentative approval from the US health regulator for generic Dolutegravir tablets used in the treatment of HIV

Sebi issues revised quarterly reporting for Alternative Investment Funds

Markets regulator Sebi on Thursday issued a revised quarterly reporting format for Alternative Investment Funds (AIFs) to ensure compliance and uniformity. The quarterly reporting format has been reviewed in consultation with the industry associations such as Indian Venture and Alternate Capital Association (IVCA) and Equalifi, Sebi said in its circular. The revised reporting format will be uploaded by AIF associations on their website within two working days of the issuance of the circular. Further, these associations will also provide assistance to AIFs in understanding and addressing the reporting requirements, Sebi said. AIFs will have to submit their quarterly reports online via Sebi intermediary portal (SI portal) within 15 calendar days from the end of each quarter. However, this schedule needs to be followed December quarter onwards, the regular said. To facilitate a smooth transition, the association will work with all AIFs to ensure that the trial run of the revised ...

Sai Silks sets Rs 210-222 per share price band for Rs 1,201 crore IPO

Ethnic apparel retailer Sai Silks (Kalamandir) on Thursday fixed a price band of Rs 210-222 per share for its Rs 1,201 crore-initial share sale, which opens on September 20. At the upper end of the price band, the Initial Public Offering (IPO) will fetch about Rs 1,201 crore. The Hyderabad-based company was founded by Prasad Chalavadi, a techie turned entrepreneur in 2005. The offer consists of Rs 600 crore of fresh issue and an equal amount of Offer For Sale (OFS) through which the promoter family will divest 30 per cent of their 95.5 per cent shareholding, Chalavadi told PTI. The remaining 4.5 per cent of the bootstrapped ethnic retailer of premium and mid-income women's wear primarily sarees, are with the employees, he added. At Rs 210 a share price band, the floor price 105 times and the cap price is 111 times the face value of the shares. The OFS comprises promoters and some of the employers selling up to 2.70 crore equity shares. The selling promoters are Nagakanaka Durga

Fintech firm Zaggle Prepaid IPO subscribed 19% on Day 1 of bidding

The Initial Public Offering (IPO) of fintech player Zaggle Prepaid Ocean Services Ltd received 19 per cent subscription on Thursday, the first day of the bidding. The share sale received bids for 36,84,060 of 1,93,26,761 shares on offer, according to NSE data. The portion for Retail Individual Investors (RIIs) was subscribed 87 per cent while the quota for non institutional investors received 11 per cent subscription. The IPO has a fresh issue of up to Rs 392 crore and the offer for sale of up to 10,449,816 equity shares. The price range of the IPO is Rs 156-164 per share. Zaggle Prepaid Ocean Services on Wednesday said it has mobilised Rs 253.52 crore from anchor investors. The company proposes to utilise Rs 300 crore of the net proceeds on expenditure towards customer acquisition and retention, up to Rs 40 crore on expenditure for the development of technology and products, and up to Rs 17.08 crore to pare down, in full or in part, debt availed of by the firm. Founded in 2011,

Sensex, Nifty end flat after hitting record highs; broader indices gain 1%

Closing Bell on September 14, 2023: Sectorally, the Nifty PSU Bank index gained 1.64 per cent, the Nifty Metal index added 1.5 per cent, and the Nifty Realty eked out gains of 1.4 per cent

With 71% jump in 4 days, this PSU stock is at its highest level since 1994

Shares of ITI Limited rallied 7% to Rs 212.45, its highest level since February 1994, on the back of heavy volumes