Page 6 - National Stock Exchange

India's top bourse is said to have doubled in value amid IPO hopes

While one of the people said NSE is working toward completing documentation for an IPO by early next year, the potential listing could still take longer

SAT dismisses Linde India plea against market regulator Sebi's order

Directs Sebi and NSE to maintain confidentiality on price-sensitive information

Sebi drops charges against NSE, ex-top executives in co-location case

Cites lack of evidence to establish collusion, connivance with OPG Securities

Sebi disposes of case against NSE, its former employees in co-location case

Sebi on Friday dismissed regulatory violation charges against the NSE and its seven former employees, including Chitra Ramkrishna and Ravi Narain, in the matter of the co-location facility, citing the absence of sufficient evidence. "Due to the absence of sufficient material/evidence/objective facts on record in this case, the test of preponderance of probability' fails to produce enough justification for the establishment of collusion/connivance between OPG and its directors with Noticees (NSE and its seven employees)," Seb said in its 83-page order. Apart from NSE, Ramkrishna and Narain, Sebi has dropped charges against Anand Subramanian, Ravindra Apte, Umesh Jain, Mahesh Soparkar and Deviprasad Singh. The case relates to the alleged preferential access given to certain broking firms in the form of 'dark fibre' at the National Stock Exchange (NSE) to connect across the colocation facilities before other members. The dark fibre or unlit fibre, with respect to network connectivity,

Sebi warns investors against fraudulent activities by unregistered entity

The National Stock Exchange (NSE) on Thursday warned investors regarding fraudulent activities perpetrated by an entity, Lazard Asset Management India. The cautionary statement came after the exchange received a complaint against a WhatsApp group named "JO HAMBRO" luring investors with offers to buy shares at discounted prices after market hours. This group has allegedly collected money from retail investors under the garb of "Seat Trading Account". In this group, the entity --Lazzard Asset Management India-- is misrepresenting itself as a registered stock broker with the Securities and Exchange Board of India (Sebi) using a forged registration certificate, the exchange said. "We wish to clarify that no entity by the name of Lazzard Asset Management India is registered with Sebi as a stock broker. The forged Sebi registration certificate circulated in the WhatsApp group is entirely fabricated and illegitimate," NSE said in a statement. Accordingly, the bourse has cautioned ...

Peak XV Partners sells 22% stake in Indigo Paints for Rs 1,557 crore

Peak XV Partners, formerly Sequoia Capital India and SEA, on Friday, divested a little over 22 per cent stake in Indigo Paints to investors like Morgan Stanley, Mercer and HDFC MF for Rs 1,557 crore via open market transactions. Venture capital firm Peak XV Partners through its two affiliates, Peak XV Partners Investments IV and Peak XV Partners Investments V, offloaded a total of 1.05 crore shares, amounting to a 22.04 per cent stake in Pune-headquartered Indigo Paints, as per the bulk deal data on the NSE. The shares were sold in the price range of Rs 1,475.96-1,489.35 apiece, taking the transaction value to Rs 1,557.05 crore. After the latest transaction, the shareholding of Peak XV Partners Investments IV has declined to 1.54 per cent from 12.14 per cent, while Peak XV Partners Investments V's stake has come down to 1.65 per cent from 13.09 per cent. Meanwhile, HDFC Mutual Fund (MF) acquired 10.04 lakh shares or 2.11 per cent of Indigo Paints, New York-based consulting firm Mer

MeitY urges swift removal of fake content by intermediaries after HC order

The Bombay High Court ordered the deletion of false information following the circulation of fake videos featuring NSE's MD and CEO Ashishkumar Chauhan

Max Financial Services' promoter sells 3.18% stake for Rs 1,218 cr

Max Ventures Investment Holdings, a promoter entity of Max Financial Services, on Thursday divested a 3.18 per cent stake in the company for Rs 1,218 crore through an open market transaction. Analjit Singh-promoted Max Financial Services Ltd (MFSL), a part of the Max Group, is the holding company for Max Life Insurance. According to the bulk deal data available on the National Stock Exchange (NSE), Max Ventures Investment Holdings sold a total of 1,10,00,000 shares amounting to a 3.18 per cent stake in Noida-based Max Financial Services. The shares were disposed of at an average price of Rs 1,107.37 apiece, taking the transaction value to Rs 1,218.11 crore. After the latest transaction, the combined shareholding of promoters in MFSL has declined to 3.34 per cent from 6.52 per cent. Details of the buyers of Max Financial Services' shares could not be ascertained. Shares of Max Financial Services Ltd fell 1.42 per cent to close at Rs 1,117.25 apiece on the NSE. In August last year

NSE files for Sebi NOC to gain approval for long-awaited IPO listing

In its annual general meeting held on Tuesday, the exchange informed shareholders that the board had given approval to file for a fresh NOC with the market regulator

Brokerages discontinued referral programmes post NSE's prohibition

The NSE's move, according to industry insiders, may be aimed at preventing referrals from being exploited to lure clients into trading, rather than just opening accounts

Tata Chemicals raises Rs 1,700 cr through NCDs on private placement basis

Tata Chemicals has raised Rs 1,700 crore through the issue of Non-convertible Bebentures (NCDs) to investors on a private placement basis. In a regulatory filing on Tuesday, Tata Chemicals said an internal Committee, constituted by its board, has approved the allotment of 1,70,000 NCDs, having a face value Rs 1 lakh each for cash, aggregating to Rs 1,700 crore, for a tenor of 3 years, to identified investors on private placement basis. The NCDs have a fixed rate coupon of 7.81 per cent and have been issued based on multiple yield allotment method. The NCDs will be listed on the Debt Segment of National Stock Exchange of India Limited (NSE), the filing said. Recently, Tata Chemicals reported a 72 per cent decline in its consolidated net profit to Rs 150 crore for the first quarter of this fiscal year on lower income and higher expenses. Its net profit stood at Rs 532 crore in the year-ago period. Net profit from continuing operations declined to Rs 175 crore from Rs 578 crore. Tota

National Stock Exchange unique investor count crosses 100 million mark

Of the latest 10 million additions, 42 per cent are from North India, followed by those in the western areas at 25 per cent

NSE Q1 results: Net profit jumps 39% to Rs 2,567 cr, revenue at Rs 4,510 cr

The National Stock Exchange (NSE) on Wednesday reported a 39 per cent year-on-year surge in consolidated net profit to Rs 2,567 crore for three months ended June 2024. The exchange posted a 51 per cent year-on-year jump in consolidated revenue from operations to Rs 4,510 crore in the April-June quarter of the current fiscal year FY25. The growth in revenue was supported by trading revenue and revenue from other segments which mainly includes data centre and connectivity charges, clearing services, listing services, index services and data services, NSE said in a statement. The exchange said it has contributed Rs 14,003 crore to the exchequer for Q1 FY25. Of this, STT/CTT (Commodities Transaction Tax) comprised Rs 12,054 crore, stamp duty (Rs 1,018 crore), GST (Rs 362 crore), Sebi charges (Rs 333 crore) and income tax (Rs 236 crore). "Out of the STT (Securitites Transaction Tax) of Rs 12,054 crore, 63 per cent is from the cash market segment and the remaining 37 per cent is from the

NSE issues warning to Suzlon for non-compliance with disclosure norms

The National Stock Exchange of India Limited (NSE) has issued a warning letter to Suzlon Energy Ltd for non-compliance with disclosure rules. In its letter to Suzlon, NSE observed that a disclosure of an analyst's call of the company held on November 6, 2023, was submitted to the exchange on the same day. The disclosure seems to be at shorter notice as required under the Sebi's LODR (listing obligations and disclosure requirements) rule, the letter dated July 29 said. The LODR rule requires a listed entity to inform the schedule of analysts or institutional investors to meet at least two working days in advance (excluding the date of intimation and date of meet). "The aforesaid non-compliance on your part is viewed seriously. You are, hereby, warned and advised to be careful in future, exercise due caution and initiate corrective steps to avoid the recurrence of such lapses so as to ensure due compliance with the applicable provisions of SEBI LODR," the NSE said. It further said t

Govt, Sebi warnings pile up as retail participation in stock mkt explodes

The regulator has repeatedly urged small investors to resist their instinct to make a quick buck from trading

Unique tax payers trading on NSE more than tripled since pandemic

Numbers are 40 per cent lower than the number of overall investor accounts

Microsoft outage disrupts aviation in India; other services unaffected

IndiGo, India's largest airline, reported the cancellation of at least 192 flights over Friday and Saturday

NSE, BSE say functioning remains normal; unaffected by Microsoft outage

Country's leading stock exchanges NSE and BSE on Friday said they are not impacted due to the global outage of Microsoft systems amid reports of disruptions in functioning of several airlines, banks, media outlets worldwide. Microsoft users globally, several in India, have reported massive outages in services, with outage tracking website Downdetector showing users flagging disruptions across various services. Meanwhile, the two leading Indian stock exchanges announced that they are not impacted due to Microsoft outage. "NSE (National Stock Exchange) and NCL (NSE Clearing Ltd) are working normal today," NSE's spokesperson said in a statement. Separately, a spokerseron of BSE said that the bourse is "not impacted due to Microsoft issue. Our operations are running normal." Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved. The glitch is causing use

Budget & Markets: Stocks deliver positive returns 1-month after, shows data

Nifty races ahead with a 5.7% average gain post-Budget, outpacing pre-Budget dips

Low price-to-earnings stocks: The secret sauce in Nifty's earnings recipe

'A MIRAGE': Beyond the index's surface, the Indian market reveals full-to-frothy valuations