Page 107 - Stock Market

Jindal Steel, JSW, Vedanta: Nifty Metal dips over 1% on China slowdown woes

Jindal Steel, Welspun Corp, JSW Steel, and Vedanta led the losses, dropping 2 per cent each. NMDC, National Aluminium, Hindalco, Jindal Stainless, Tata Steel and SAIL lost up to 1.5%

VST Tillers soars 14% on pact with US firm to develop electric power tiller

The company has entered into a Master Service agreement with US-based Solectrac Inc. to jointly develop electric power tiller and other agricultural machineries

Syrma hits new high on 1-yr lock-in expiry; more than doubles since listing

The stock, which listed a year ago on August 26, 2022, has surged nearly 2.5 times (143 per cent) from its issue price of Rs 220. On its debut day, the stock had closed with a 41 per cent gain

Hindenburg 2.0? Soros-backed OCCRP said to be planning another 'expose'

Months after a US short seller shook markets with a damning report on the Adani group, the Organised Crime and Corruption Reporting Project (OCCRP) - an organisation funded by likes of George Soros and Rockefeller Brothers Fund - is said to be planning another 'expose' on certain corporate houses in India, sources said. OCCRP, which calls itself "an investigative reporting platform formed by 24 nonprofit investigative centres... spread across Europe, Africa, Asia and Latin America, may publish a report or a series of articles, three sources with knowledge of the matter said. An email sent to OCCRP seeking comments remained unanswered. Founded in 2006, OCCRP claims to specialize in reporting on organized crime and largely publishes these news articles through partnerships with media houses. On its website, it identifies the Open Society Foundations of George Soros, a financier with a penchant for funding radical causes around the world, as one of the institutional donors. Others ...

Paytm shareholder Antfin to sell 3.6% stake via block deal: Report

The floor price for the sale is set at 880 rupees per share, the report added, which is a 2.7% discount on Paytm's last closing price of 904.45 rupees

Sebi imposes Rs 20 lakh fine on SIMR for flouting regulatory norms

Capital markets regulator Sebi has levied a fine of Rs 20 lakh on Star India Market Research for allegedly flouting regulatory norms. Star India Market Research (SIMR) is a Sebi-registered investment adviser. The Securities and Exchange Board of India (Sebi) conducted an examination of SIMR before issuing a show cause notice on July 11, 2023, for alleged violations. In its 52-page order on Wednesday, Sebi found that SIMR charged arbitrary fees from clients, sold multiple products in a short span to the same client and also sold products for overlapping periods. This was done to defraud clients and earn maximum fees, the order said, adding that the noticee did not act honestly, fairly, and diligently in the best interests of its clients, thereby violating the code of conduct of Investment Advisers (IA) regulations. Further, Sebi observed that SIMR induced its clients to trade in the market, contravening the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) rules. "I not

Everstone Capital exits SJS Enterprises by selling remaining 29.5% stake

The stake was bought by investors including some Indian mutual funds, an Everstone spokesperson said, adding that the firm made $66 million from the sale

Heating equipment maker JNK India files draft papers with Sebi to float IPO

Heating equipment maker JNK India Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth up to Rs 300 crore and an Offer for Sale (OFS) of up to 84.21 lakh equity shares by promoters and an existing shareholder, according to the Draft Red Herring Prospectus (DRHP) filed on Tuesday. Those offloading shares in the OFS are of promoters -- Goutam Rampelli, Dipak Kacharulal Bharuka, JNK Heaters Co. Ltd. and Mascot Capital and Marketing Pvt Ltd. -- and shareholder Milind Joshi. The Mumbai-based company may consider an issue of equity shares aggregating up to Rs 60 crore in the pre-IPO placement round. If such placement is completed, the fresh issue size will be reduced. Going by the draft papers, proceeds from the fresh issue to the tune of Rs 276 crore will be used for funding working capital requirements and a portion will also be used for general corporate ...

Blue-chips rise on financials boost; small, mid-caps hit fresh highs

The Nifty 50 index settled 0.25% higher at 19,444, while the S&P BSE Sensex gained 0.33% to 65,433.30

From Jio Financial to Zerodha, Indian mutual fund managers going 'passive'

Fund houses have launched 23 passive funds so far this year, half the 45 launched in 2022 and well above 10 in 2019, data from Value Research shows

Analysts turn cautious on Asian markets; India remains an outlier

Indian markets, analysts believe, are an outlier and can still justify expensive valuations amid a likely recovery in corporate earnings going ahead

Jio Financial Services reels under selling pressure, loses 5% again

Stock sheds Rs 16K cr in market value in two days; exclusion from Sensex, Nifty deferred

BSE postpones removal of Jio Financial Services from indices to August 29

BSE's circular said that if JFSL continues to hit the lower circuit in the next two days, the removal date will be deferred by another three days

Adani-led promoter group hikes stake in flagship firm AEL to 69.87%

Billionaire Gautam Adani-led promoter group has increased its stake in the group's flagship firm as the ports-to-energy conglomerate continues to recover from the effects of a report by US short-seller Hindenburg Research. Promoter group has increased stake in Adani Enterprises Ltd from 67.65 per cent to 69.87 per cent, according to a stock exchange filing. Promoter group firm Kempas Trade and Investment Ltd, which had a minimal stake in the firm, acquired 2.22 per cent in the open market between August 7 and August 18, it said. The stake increase comes at a time when US-based boutique investment firm GQG Partners has been buying shares in Adani group firms. GQG has increased its stake in Adani Ports & Special Economic Zone (APSEZ) to 5.03 per cent last month by way of a bulk deal, stock exchange filings showed. GQG now has a stake in five of the 10 Adani Group firms. On August 16, it bought a 7.73 per cent stake in Adani Power Ltd. Promoter group firms Worldwide Emerging Market .

US treasury 10-year real yield exceeds 2% for first time since 2009

Benchmark rose as much as 6 basis points to 2%, before easing little under that threshold, extending rise from 1.5% since mid-July. 30-year real yield up 6.6 basis points to 2.14%, new peak since 2011

FPIs' investment value in Indian equities gains 20% to $626 bn in June qtr

The value of foreign portfolio investors' holdings in the domestic equities reached USD 626 billion in the three months ended June 2023, which was 20 per cent higher from the year-ago period, according to a Morningstar report. This could be attributed to good performance in the domestic equity markets as well as strong net inflows from foreign portfolio investors (FPIs). According to the report, the value of FPIs' investments in Indian equities rose from USD 523 billion as of June 2022 to USD 626 billion at the end of June 2023. On a quarter-on-quarter basis, the value of such investment rose 15 per cent from USD 542 billion recorded in the three months ended March this year. This has helped in pushing FPIs' contribution to Indian equity market capitalisation marginally to 17.33 per cent for the quarter under review from 17.27 per cent for the March quarter. After pulling out funds to the tune of USD 3.2 billion from the Indian equities in the March quarter, FPIs took a sharp U-tu

Top headlines: Jio Financial shares to debut, big techs seek relaxation

Business Standard brings you the top headlines at this hour

Shares of Ambani's $20 bn Jio Financial Services set to debut in Mumbai

Jio Financial, which as yet boasts of little revenue but owns a 6.1% stake in Reliance, has already announced a partnership with BlackRock Inc. to set up an Indian asset management venture

Stocks to Watch: Jio Financial, Titan, Gujarat Gas, Tanla Platforms, KEC

Stocks to Watch on August 21, 2023: Jio Financial Services will be listed on the exchanges today. Experts believe the stock could top the Rs 300-mark on listing

Park Hotels owner files draft papers with Sebi to raise Rs 1,050 cr via IPO

Apeejay Surrendra Park Hotels Ltd, which runs hotels under the "The Park" brand, has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,050 crore through an initial public offering (IPO). The IPO comprises a fresh issue of equity shares worth Rs 650 crore and an offer for sale (OFS) of equity shares to the tune of Rs 400 crore by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed on Saturday. Those offering shares in the OFS are Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd, and RECP IV Park Co-Investors Ltd. At present, promoters and promoter group members hold a 94.18 per cent stake in the company, and the two investors own 5.82 per cent shareholding in the firm. Proceeds of the fresh issue would be utilised toward the payment of debt and for general corporate purposes. The company operates hospitality assets under its brands, The Park, The Park Collection, Zone by The Park, Zone .