Page 76 - Stock Market

Rate sensitive shares trade firm as RBI keeps repo rate unchanged at 6.5%

At 10:39 am; the Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Private Bank and Nifty Realty index are trading in green and quoting higher by up to 1.7 per cent

Bulls march on D-Street, pitch camp at new heights; Sensex up 351 points

Rally in HDFC Bank, Powell's reassurance buoy sentiment

Indices fall for 2nd straight day due to profit-booking in select stocks

The broader NSE Nifty declined 18.65 points or 0.08 per cent to 22,434.65, with 30 components of the 50-share benchmark ending with losses

Investors subscribe TAC Infosec's IPO 393 times on final day of offer

TAC Infosec's initial share sale received an overwhelming response from the investors as it received 392.56 times subscriptions on the last day of the offer on Tuesday. The initial public offering (IPO) of TAC Infosec received bids for 79,42,29,600 shares against 20,23,200 equity shares on offer, according to the NSE data. The category for qualified institutional buyer (QIB) got 37.54 times subscription, while the quota for non-institutional investors (NII) was subscribed 153.30 times, and the Retail Individual Investors (RII) portion got 201.71 times subscription. The price band of the public issue has been fixed at Rs 100-106 per share. The IPO is only a fresh issue of 28.29 lakh equity shares with a face value of Rs 10 each. Proceeds from the issue will be used to invest in human resources and product development to support organic growth in India. Further, it will also use the proceeds to invest in TAC Security Inc (Delaware, USA) to hire skilled personnel for organic growth a

Apple investors looking for signs of recovery after quarterly slump

As the S&P 500 gained, Apple's return lagged it by 21 percentage points in the first quarter, the worst showing by that measure since 2013, according to data compiled by Bloomberg

India commanding higher valuations on investors' optimism, trust: Buch

Sebi chairperson Madhabi Puri Buch on Tuesday said the Indian capital markets are commanding higher valuations because of foreign investors' optimism and trust in the country. She said at 22.2, the ratio of price to earning multiple in the Indian market is higher than the average of many indices around the world. "Yes, some people say that we are an expensive market but still why is the investment coming? Because this is a reflection of the optimism and the trust and faith that the world has in India today that we are commanding the kind of multiples in our markets," she said at a CII event on corporate governance here. A few weeks ago, Buch had flagged concerns on high valuations in segments of small and midcap stocks, stating that it could be becoming into a bubble. Buch said she meets foreign investors regularly as part of her mandate and has seen an increased interest in India among them because of the velocity which the country's economy has got after years of high speed ...

China's stock correlation with India reaches record all-time low

The Chinese gauge has more than doubled gains in the Indian measure since February with a push from Beijing's stimulus, while India's rally has cooled on valuation concerns

Sebi launches SCORES 2.0 to enhance investors' complaint redressal system

Markets regulator Sebi on Monday launched the new version of SCORES in a bid to strengthen the investor complaint redressal mechanism by introducing auto-routing of complaints and monitoring such grievances by designated bodies. SEBI Complaint Redress System (SCORES) is an online system where investors in the securities market can lodge their complaints through web URL and an app. It was launched in June 2011. "The new version of SCORES strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the designated bodies and reduction of timelines," Sebi said in a statement. Sebi said that investors can lodge complaints only through a new version of SCORES from April 1, 2024. In the old SCORES, investors would not be able to lodge any new complaint, however, investors can check the status of their complaints already lodged in old SCORES. Further, the disposed of complaints filed i

Fincare SFB merges with AU SFB; consolidation enhances distribution network

AU Small Finance Bank (AU SFB) on Monday amalgamated Fincare Small Finance Bank (Fincare SFB), marking the first such consolidation in the sector. In an all-stock merger deal first announced on October 29, 2023, where the shareholders of Fincare SFB received 579 equity shares in AU SFB for every 2,000 equity shares held in Fincare SFB, the merger received final approval from RBI on March 4, 2024, with the effective date of April 1, 2024. The merger is also expected to provide AU SFB with enhanced access to South India, significantly expanding its distribution network, the Jaipur-based lender said in a statement. This increased presence will facilitate the distribution of the bank's diverse range of products and services to a wider customer base, strengthening its market position in the region, it said. With this, it said, AU SFB has a franchise with a combined base of about 1 crore customers, 43,500 employees, and a network of 2,350 physical touchpoints across 25 states and union .

All Adani group stocks in high demand, Adani Energy jumps over 8%

All listed Adani group stocks were in the limelight on Monday, with Adani Energy climbing over 8 per cent, as investors flocked to the counters amid a positive trend in the broader market. Shares of Adani Energy Solutions jumped 8.40 per cent, NDTV zoomed 6.16 per cent, Adani Wilmar advanced 5.92 per cent, Adani Power surged 4.99 per cent, Adani Total Gas soared 4.81 per cent, Adani Green Energy rallied 2.93 per cent, Adani Ports climbed 2.56 per cent and ACC (2.38 per cent) on the BSE. The stock of Adani Enterprises went up by 1.80 per cent and Ambuja Cements climbed 1.49 per cent. The combined market valuation of all the group firms stood at Rs 16,30,648.23 crore. The 30-share BSE Sensex climbed 363.20 points or 0.49 per cent to settle at 74,014.55 and the NSE Nifty advanced 135.10 points or 0.61 per cent to 22,462. Both the benchmarks hit their all-time high levels in intra-day. Adani group opened a USD 1.2 billion copper plant, bought a port in Odisha, raised stakes in a cemen

Equity market returns to 'normalise' this fiscal year, says Canara Robeco

Canara Robeco Mutual Fund manages around 880 billion rupees ($10.55 billion) of Indian equities

Bull run to continue for realty shares, analysts advise buying the dips

After a sharp rally in FY24, which has seen the Nifty Realty index soaring more than 128 per cent against a 26.7 per cent jump in the Nifty 50, any correction in the shares provides good buying opport

SBI to L&T: NSE revises F&O lot size of derivative contracts for 54 stocks

Exchange has cut the lot size for the futures and options contracts of 42 stocks to half of the current lot sizes. The revised lot sizes will be effective from 26 April for expiries in May or later

Stock markets closed for trading today on account of Good Friday

The holiday-shortened week witnessed only three days of trading as the equity markets were also closed on Monday, March 25, on account of Holi

Strong showing: Markets end year of records on a high, Nifty rises 29%

Despite the recent selloff, the Nifty Smallcap 100 and the Nifty Midcap 100 indices gained 70 per cent and 60 per cent, respectively

Sebi cancels merchant bank registration of Karvy Investor Services

Capital markets regulator Sebi on Thursday cancelled the registration of Karvy Investor Services Ltd (KISL) as a merchant banker for breach of eligibility criteria. The order came after the Securities and Exchange Board of India (Sebi) conducted an inspection of Karvy Investor Services during March 15-17, 2023 and in the onsite inspection, the regulator found that the merchant banker was not functioning or operational both at the registered as well as in the correspondence address. Subsequently, the regulator had continued the inspection and found that Karvy Investor Services did not have the required infrastructure. "...by not having necessary infrastructure like adequate office space, equipment etc. and minimum two employees having the experience to conduct the business of merchant banker and having a director who is involved in a litigation connected with the securities market which has an adverse bearing on the business of the applicant and by not being fit and proper person, ..

This jewellery stock has zoomed over 300% in last 10 months on firm outlook

In the past 10 months, the market value of Kalyan Jewellers has jumped over four-fold or 305 per cent from a level of Rs 105.65 amid strong financial performance

Nifty rises 1,194 points to end FY24 on bullish note, Sensex jumps 655 pts

Benchmark equity indices Sensex and Nifty rallied for the second straight session on Thursday to end the 2023-24 fiscal on a bullish note, powered by across-the-board buying amid a bullish trend in global equities. Power, auto and metal stocks witnessed robust demand, even as a depreciating rupee weighed on sentiment, traders said. Extending its previous day's rally, the 30-share index jumped 655.04 points or 0.90 per cent to settle at 73,651.35. During the day, it zoomed 1,194 points or 1.63 per cent to 74,190.31. The NSE Nifty climbed 203.25 points or 0.92 per cent to end at 22,326.90. On a weekly basis, the BSE benchmark climbed 819.41 points or 1.12 per cent, and the NSE Nifty advanced 230.15 points or 1.04 per cent. In the 2023-24 financial year, Sensex jumped 14,659.83 points or 24.85 per cent, while the Nifty soared 4,967.15 points or 28.61 per cent. "Indian equities closed the day and fiscal year on an optimistic note, with volatility by the end of the session, as buying

Investors subscribe SRM Contractors IPO 86.57 times on last day of bidding

The initial public offer of SRM Contractors got subscribed 86.57 times on the last day of bidding on Thursday. The Rs 130.20 crore IPO received bids for 37,57,05,680 shares against 43,40,100 shares on offer, as per NSE data. The quota for non-institutional investors received 214.93 times subscription while the portion meant for Qualified Institutional Buyers (QIBs) got subscribed 59.59 times. The category for Retail Individual Investors (RIIs) fetched 46.97 times subscription. The Initial Public Offer (IPO) of fresh issue of up to 62,00,000 equity shares had a price range of Rs 200-210 a share. SRM Contractors mopped up Rs 39 crore from anchor investors on Friday. The company's IPO received 3.56 times subscription on the first day of bidding on Tuesday. It is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilization works and other miscellaneous civil construction activities in the Union ..

Strong economy, steady inflows power Nifty to best fiscal since 2021

India's growth has also outpaced its Asian peers, with the domestic economy speeding towards growth of 7.6% in fiscal 2024, the fastest among large economies