Page 6 - Stock Exchange

Indian shares end flat on caution ahead of key data, earnings rush

Analysts expect the benchmark to witness consolidation in the near term, ahead of the domestic retail inflation data for April, due on Friday

Sebi comes out with testing framework for IT systems of stock exchanges

Capital markets regulator Sebi on Friday put in place a comprehensive testing framework for the information technology (IT) systems of the stock exchanges and other market infrastructure institutions (MIIs). The framework will be for the IT systems of MIIs -- stock exchanges, clearing corporations, and depositories -- throughout their lifecycle, which can assist the MIIs in performing thorough risk assessment before deploying any IT systems in production or live environment. Under the framework, all MIIs have been asked to do extensive testing, validation, and documentation whenever new systems or changes to existing systems are introduced before the deployment in the production/live environment, according to a circular. Further, they have to set up a comprehensive methodology for system testing, functional testing, and application security testing, and the same need to be approved by the Standing Committee on Technology (SCOT) of respective MIIs. The scope of testing includes ...

India Grid Trust to consider raising of debt through various sources

The outcome of the board meeting will be communicated to the stock exchanges after conclusion of the board meeting on May 12, 2023

NSE tweaks index inclusion rules for spun-off entities to reduce churn

The change will apply to any such spin-offs approved by shareholders of the parent companies on or after April 30, the NSE said in a circular late on Wednesday

Exchanges must comply with Weapons of Mass Destruction Act: Sebi

Capital markets regulator Sebi on Wednesday asked stock exchanges and intermediaries to comply with the rules, which deal with the prevention of financing related to weapons of mass destruction and their delivery systems. Under this, stock exchanges and intermediaries will have to maintain a record of designated persons, according to a Sebi circular. In addition, they will have to keep a check and prevent financial transactions with individuals and entities in the designated list. Further, they have been asked to immediately inform about such transactions to Chief Nodal Officer and file a suspicious transaction report with FIU-IND (Financial Intelligence Unit - India). This came after the Ministry of Finance issued an order in January detailing the procedure for implementation of the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act (WMD Act). The Act bans funding of weapons of mass destruction and also empowers the Centre to freeze, s

Bourses approves transfer of NCDs from HDFC Ltd to Bank as part of merger

HDFC Ltd on Wednesday said both stock exchanges BSE and NSE have approved the transfer of NCDs from the mortgage firm to HDFC Bank as part of the amalgamation process. BSE and NSE vide their letters dated April 26, 2023, granted their in-principle approval for the transfer of additional NCDs (non-convertible debentures) issued by HDFC Limited post receipt of the earlier approval on December 13, 2022, to HDFC Bank, the mortgage firm said in a regulatory filing. The proposed amalgamation is subject to receipt of final approvals from the Securities and Exchange Board of India (Sebi) in respect of change in control of certain subsidiaries of HDFC Limited, it added. This approval will help pave the way for the merger of HDFC into HDFC Bank, expected to be finalised by the third quarter of this financial year. Termed as the biggest transaction in India's corporate history, HDFC Bank on April 4 last year agreed to take over the biggest domestic mortgage lender in a deal valued at about US

BSE products to get nip-and tuck-treatment under Sundararaman Ramamurthy

Asia's oldest bourse gets battle-ready under new chief

Fund raise via IPO more than halves to Rs 52,116 cr in FY23 from FY22

The total amount raised through initial public offerings (IPOs) more than halved to Rs 52,116 crore in FY23 from an all-time high collection of Rs 1,11,547 crore in the previous fiscal, according to an analysis. According to Prime Database, just 37 companies hit the main board listing process in FY23, much lower than 53 IPOs in FY22. Pranav Haldea, managing director of Prime Database Group, said Rs 20,557 crore which is 39 per cent of the total amount raised in FY23 was by LIC alone, without which the IPO fundraising would have been just Rs 31,559 crore in the year. Yet, FY23 is still the third highest in terms of IPO fund-raise, he said. Overall public equity fundraising also dropped by 56 per cent to Rs 76,076 crore in the reporting year from Rs 1,73,728 crore in FY22. While IPOs were worth Rs 54,344 crore (including SME issues) in the year, total fund raising through the capital markets stood at Rs 85,021 crore, of which Rs 11,231 crore were from the OFS (offer for sale) route,

Fear of financial crisis keeps investors away from stock exchanges

A number of American banks had failed recently or came under pressure

Stock exchanges freeze promoter shareholding of Patanjali Foods

Action after co fails to meet 25% public float

SVB crisis: How the ripples of the bank's plunge reached foreign shores

Silicon Valley Bank crisis: How has the bank's failure affected other banks and their stocks worldwide? Read more to find out

Stock exchanges remove Adani Enterprises from short-term ASM framework

The move effective from March 8, will ease trading restrictions, such as higher margin requirements, while dealing in shares of AEL

TMS Ep377: Ajay Banga, Indian global CEOs, FIIs, social stock exchange

What are Ajay Banga's challenges at the World Bank? What makes Indians so successful as global CEOs? Where is India placed on FIIs' radar? What is a social stock exchange? All answers here

Stock exchanges up scrutiny of traders whose exposure exceeds income

NSE asks asked brokers to check for suspicious transactions as derivative activity surges

Sebi moots institutional mechanism for stock brokers to curb market abuse

Markets regulator Sebi on Tuesday proposed an institutional mechanism that will require stock brokers to put in place systems for detection and prevention of market abuse. Currently, there are no specific regulatory provisions that cast responsibility on brokers to have a system to prevent market abuse. In a consultation paper, Sebi has proposed a regulatory framework which will require broking firms as well as their senior management to be accountable for detection and prevention of fraud or market abuse, by setting up robust surveillance and control systems. In addition, the regulator has suggested that brokers should have appropriate escalation and reporting mechanisms. Sebi has also listed out probable instances of fraud or market abuse which a broker's system should be equipped to monitor. The probable instances can include creation of misleading appearance of trading, price manipulation, front running, insider trading and mis-selling. Unauthorised trading, including facilita

BSE Q3 net profit drops 16% to Rs 51.6 cr; revenue from operations up 6%

Leading stock exchange BSE on Tuesday reported a 16 per cent decline in net profit to Rs 51.6 crore in three months ended December 2022. In comparison, the exchange had posted a net profit of Rs 61.3 crore in the year-ago period, BSE said in a statement. However, the bourse's revenue from operations grew 6 per cent to Rs 204 crore in the quarter under review from Rs 192.8 crore in the October-December quarter of the preceding fiscal 2021-22. "Overall, BSE reported a sustained third quarter result amidst a difficult market environment. 2022 was a period of transition for the BSE, and as we embark on a new journey in the new Financial Year, I believe that a balanced business model will enable us to grow much higher," Sundararaman Ramamurthy, MD and CEO of BSE, said. In addition, the board of BSE has approved the divestment of 2.5 per cent stake of BSE in Central Depositary Services Ltd (CDSL) towards meeting regulatory norms. The exchange's mutual distribution platform, BSE StAR MF,

Sebi orders bourses to release first list of 'big brokers' in a fortnight

The Qualified Stock Brokers, or QSBs, will be required to analyse client behaviour and trading patterns, and detect unusual activity

NYSE mayhem traced to an employee who left a backup system running

An NYSE employee failed to properly shut down Cermak's disaster-recovery system - leading to a disaster

If you have only one exchange, you have a problem: BSE chief Ramamurthy

New BSE chief bats for competition, at least a duopoly in equity market space

Sah Polymers shares settle over 37% higher in debut trade: Report

Shares of Sah Polymers on Thursday ended with a premium of over 37 per cent on the stock exchanges against the issue price of Rs 65. The stock made its debut at Rs 85, reflecting a jump of 30.76 per cent from the issue price on the BSE. Later, it rallied 37.30 per cent to settle at Rs 89.25 apiece. On the NSE, the shares began the trade at Rs 85 and finally ended at Rs 89.25 each. In volume terms, 4.16 lakh shares of the firm were traded on the BSE and 41.82 lakh shares on the NSE during the day. The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel. Meanwhile, in the broader market, the 30-share BSE benchmark ended 147.47 points or 0.25 per cent lower at 59,958.03. The initial public offer of Sah Polymers was subscribed 17.46 times last week. The initial share-sale had a price range for