Page 73 - Stock Market

Investors subscribe Piotex Industries' IPO 108 times on final day

The initial public offering of Piotex Industries closed with an overwhelming subscription of 108 times on Tuesday. The portion for non-institutional investors (NII) was subscribed 122 times, the quota for retail individual investors (RII) received 94 times subscription, bringing the overall subscription to 108 times until the final day of bidding on Tuesday. Shares of the Pune-headquartered company will be listed on the BSE's SME platform. The Rs 14.47 crore initial public offering (IPO) is entirely a fresh issue of 15.4 lakh equity shares with a face value of Rs 10 each. The company has fixed the price of the issue at Rs 94 per share. The company proposes to utilise the proceeds from the public offer to fund its working capital requirements, general corporate purposes and meet issue expenses. Founded in 2019 by Abhay Shriram Asalkar and Yogesh Omprakash Nimodiya, the company is a supplier of yarn, fabric and cotton bales and works on an asset-lite model. Piotex Industries recor

Alembic ltd zooms 13% on strong Q4 performance; net profit rises by 425%

The total consolidated income of Alembic rose by 30.7 per cent at Rs 51 crores in the March quarter of FY24 as against Rs 39 crores in the corresponding quarter of the previous fiscal year

Stock market will 'shoot up' on June 4 after PM Modi's victory: Amit Shah

The Indian stock market will 'shoot up' after the Lok Sabha elections 2024 results are announced on June 4, said Union Home Minister Amit Shah and encouraged investors to buy before that

India VIX soars 16%, hits 21-mark on NSE on May 13; more volatility ahead?

Stock market updates: India VIX soared 16% on the day of the fourth phase of voting for Lok Sabha elections 2024

Inflation data, Q4 earnings, trends to drive markets this week: Analysts

Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said. Besides, investors would also take cues from the trading activity of foreign investors, the movement of global oil benchmark Brent crude and the rupee-dollar trend. "Investors will be bombarded with economic data on both domestic and global fronts. Domestically, watch for Consumer Price Index (CPI) and Wholesale Price Index (WPI). Globally, focus will be on the US Producer Price Index (PPI) and Consumer Price Index (CPI) figures. "Additionally, Federal Reserve Chair Jerome Powell's speech will be a key event to watch. China's industrial production data and Japan's GDP figures round out the important releases for the week," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Vinod Nair, Head of Research at Geojit Financial Services, sa

Asian stocks rise, dollar weakens on renewed global rate cut optimism

China stocks also gained, with blue-chip shares 0.14 per cent higher, while Hong Kong's Hang Seng Index rose 1.4 per cent, having touched an eight month high in early trading

Markets log biggest drop in 4 months; Sensex ends 1,062 points lower

The index finished below its 100-day moving average (DMA), seen as a critical support, for the first time since November 13, 2023

Sebi proposes to cut trading size of privately placed InvITs to Rs 25 lakh

Markets regulator Sebi on Thursday proposed to drastically reduce the trading lot size of privately placed infrastructure investment trusts (InvITs) to Rs 25 lakh in a bid to boost investors' participation and increase liquidity of such investment vehicles. The current trading lot for secondary market trading for privately placed InvITs is set at Rs 1 crore. Further, if the InvIT invests at least 80 per cent of its asset value in completed and revenue-generating assets, then the trading lot is Rs 2 crore. In its consultation paper, Sebi has proposed "to reduce the trading lot size for the purpose of trading units of privately placed InvITs on designated stock exchanges from Rs 1 crore/ Rs 2 crore to Rs 25 lakh". The proposal will help in increasing the liquidity of privately placed InvIT units by allowing a broader base of investors to participate in the market and promote diversification of investment portfolios, enabling investors to better manage risk. Additionally, the regulato

Nifty ends flat for 12th time in history, session closes at 22,302.5

The last time this happened was on March 31, 2017, when Nifty closed at 9,173.75

Investors subscribe TBO Tek IPO 1.15 times on first day of subscription

The initial public offer of travel distribution firm TBO Tek got subscribed 1.15 times on the first day of bidding on Wednesday. The Rs 1,551 crore IPO received bids for 1,06,50,112 shares against 92,85,816 shares on offer, according to data available with the NSE. The category for Retail Individual Investors (RIIs) got subscribed 3.13 times while the portion for non-institutional investors received 2.08 times subscription. The quota for Qualified Institutional Buyers (QIBs) got 1 per cent subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 400 crore and an offer for sale of up to 1,25,08,797 equity shares. Those selling shares in the OFS are promoters Gaurav Bhatnagar, Manish Dhingra and LAP Travel, and investors TBO Korea and Augusta TBO. The price range for the offer is Rs 875-920 per share. TBO Tek on Tuesday said it has collected a little over Rs 696 crore from anchor investors. Proceeds from the fresh issue will be used for the growth and strengtheni

Coaching class owner loses Rs 1.88 cr to stock trading WhatsApp group scam

A 48-year-old coaching class owner in Thane district was duped of more than Rs 1.88 crore in a share trading scam that started with the membership of a WhatsApp group, police said on Wednesday. As per the complainant, an unidentified person added him to the WhatsApp group 'STOCK Vanguard (F)' in March, said an official. The group had 170 members and advice about share trading used to be posted there, he told police. The complainant found the advice trustworthy and invested money in the recommended shares, following which he was added to another group, 'STOCK-Vanguard-VIP', the official said. Three persons, who identified themselves as Isha, Divya, and Raj Rupani, contacted him, showed him some kind of 'SEBI certificate' to gain his trust, and told him that he could make huge profits by investing through an app called CINVEN/IC SERVICES, the complainant said. He invested more than Rs 1.88 crore, but when he demanded his money back, there was no response, he claimed. A case of ...

HDFC Sec sees up to 14% upside in Oil India, Tech Mahindra; check why

From the all-time high of 22,794, Nifty has witnessed a correction of more than 550 points in the span of three trading sessions

Chart Analysis: Nifty Bank in bearish mood, presents buying opportunities

Despite the near-term bearish trend observed on charts, the correction presents an opportunity for traders to consider buying the index and its constituents on dips

Mid, SmallCap indices slip up to 3% on May 7; analysts cite rich valuations

Among midcaps Lupin fell 6.58 per cent at Rs 1569 as the pharma major missed street expectations in its January-March quarter earnings

Market regulator Sebi's action on SME for manipulating financials

Bars Add-Shop E-Retail; over 46% of sales in three FYs fake

Stock Market Highlights, May 3: Sensex plunges 733 pts, Nifty below 22,500 in broad sell-off

Stock Market highlights on May 3:24 of the 30 Sensex stocks, and 35 of the 50 Nifty stocks closed in the negative zone led by L&T, Maruti Suzuki, Reliance Industries, Nestle India, and JSW Steel

Asian stocks surge on tech boost; yen extends gains to end volatile week

With markets in Japan and mainland China closed on Friday, regional trading activity is likely to be subdued as traders look ahead to the U.S. nonfarm payrolls data later in the day

India's IPO market set to break May jinx in Lok Sabha election year

For 1st time during poll cycle since '04, mkts will see IPO frenzy

Sebi introduces draft for stock exchanges to supervise research analysts

Markets regulator Sebi on Thursday came out with a framework for administration and supervision of research analysts and investment advisers, whereby a stock exchange can be authorised to oversee and manage such entities. In a circular, Sebi said a stock exchange should be granted recognition as RAASB (Research Analyst Administration and Supervisory Body) and IAASB (Investment Adviser Administration and Supervisory Body). "To begin with, in order to ensure efficiency in the system and economies of scale, RAASB and IAASB shall be one and the same stock exchange," it added. To be recognised as a RAASB and IAASB, a stock exchange must have been operational for at least 15 years, possess a net worth of at least Rs 200 crore, need to have nationwide terminals and investor service centres in 20 cities and provide a grievance redressal mechanism, including online dispute resolution. The exchange is required to set up the necessary infrastructure and systems for administration and ...

Sebi makes mandatory registration of PMS providers with industry body APMI

Markets regulator Sebi on Thursday decided to promote collective oversight of PMS distributors by making registration with the Association of Portfolio Managers in India (APMI) mandatory for them. The move is aimed at promoting ease of doing business initiatives for portfolio managers. The new directive would come into effect from January 1, 2025, and APMI would issue the criteria for registration of distributors by July 1, this year, Sebi said in a circular. "In order to facilitate collective oversight of PMS (Portfolio Manager Services) distributors at the industry level, it has been decided that any person or entity involved in the distribution of portfolio management services shall obtain registration with APMI," Sebi said. Portfolio Managers have been asked to ensure that any person or entity engaged in the distribution of its services has obtained registration with APMI, in accordance with the criteria laid down by APMI. This is in line with the practice already being follow