Page 81 - Stock Market

TCS rallies 3% to hit record high; outperforms with 11% jump so far in 2024

Last month, global brokerage UBS increased their FY25/26 earnings per share (EPS) estimates 3 per cent/9 per cent, upgrading TCS to 'Buy' from 'Neutral'

India's biggest stock winner Tata Investment has no analyst coverage

Tata Investment Corp. has soared 116 per cent so far in 2024, the most among the Nifty 500 Index companies that represent more than 94 per cent of India's market capitalisation

Sebi seeks to boost trust in mkt, expands qualified stock broker framework

Sebi on Monday announced expanding the Qualified Stock Broker (QSB) framework that will bring more brokers under enhanced obligations, a move aimed at bolstering the trust of investors in the securities market. The decision will also help in strengthening the compliance culture among stock brokers. Now, the parameters of proprietary trading volumes, compliance and grievance redressal scores will also be taken into account while classifying stock brokers as QSBs, according to a circular. At present, there are five parameters for classifying a stock broker under the QSB framework -- total number of active clients, available total assets of clients, trading volumes of the stock broker (excluding the proprietary trading volume of the stock broker), and the end of day margin obligations of all clients. The margin obligations exclude the proprietary margin obligation of the stock broker concerned in all segments. QSBs are required to meet various enhanced obligations and discharge ...

Signs of manipulation in SME listings, says Sebi chief Madhabi Buch

Buch calls for policy by MF trustees to protect investors from 'bubble' in the smallcaps

Tax dept finds inconsistencies in transaction report of market entity

The income tax department on Monday said it has identified "certain inconsistencies" in the data of the securities market provided by one of the reporting entities in the statement of financial transactions (SFT). In a post on X, the I-T department said based on feedback from taxpayers on the e-campaign for advance tax, the inconsistencies have come to light and the reporting entity has been asked to submit a revised statement to the department. "Hence, the data on AIS (Annual Information Statement) will be updated. Taxpayers are advised to wait for further updates on AIS based on the revised statement," the I-T department said. As per income tax rules, specified institutions are required to furnish SFT to the I-T department with the details of certain financial transactions or any reportable account registered/recorded/maintained by them during the year. The data submitted in SFT then gets reflected in the Annual Information Statement (AIS) of the taxpayer. "The Department has ..

Share of women investors in mutual funds grows to 21% in Dec 2023: Report

The share of women investors in mutual funds has increased from 15 per cent in March 2017 to nearly 21 per cent in December 2023, according the latest data of Amfi (Association of Mutual Funds). The overall asset under management in mutual funds crossed the Rs 50 lakh crore-mark in February this year as a large number of passive investors are flocking to mutual funds to save and earn more. The Amfi data showed the share of women investors in mutual funds increased from 15 per cent in March 2017 to nearly 21 per cent in December 2023. This pace of growth was more prominent in the hinterland versus the urban centres during the period. The share of women folios and assets in B-30 cities has increased from 15 per cent to 18 per cent and from 17 per cent to 28 per cent, respectively, the data showed. The report, prepared by Crisil for Amfi and released by Sebi chairperson Madhabi Puri Buch, further said that almost 50 per cent of women investors fall in the 25-44 age group as against .

Rakesh Gangwal sells shares of InterGlobe Aviation worth Rs 6,785 crore

InterGlobe Aviation's promoter Rakesh Gangwal on Monday sold shares worth Rs 6,785 crore of the company through open market transactions. The co-founder of the company, which operates the country's largest airline IndiGo, offloaded 2.25 crore shares of IndiGo amounting to 5.83 per cent stake, according to bulk deal data on BSE. The shares were sold in three tranches, with the price per scrip varying from Rs 3,015.10 to Rs 3,016.36.

List of IPOs to watch out for this week

This week, primary market observers will be quite busy as eight initial public offerings (IPOs) are set to open for subscription.

Jio Financial rallies 8%, hits new high on heavy volumes in weak market

In the past two months, the stock price of JFS has appreciated by nearly 50 per cent

Torrent Power surges 13% on winning 306 MW solar power project

The project is to be commissioned within the next 18 months at an estimated cost of Rs 1,540 crore

Stocks to watch: Torrent Power, Vedanta, InterGlobe Aviation, Coal India

Stocks to watch on March 11, 2024: Equity benchmark indices Sensex and Nifty are expected to start on a tepid note ahead of weak global cues.

Prudential Management and Services sells 0.7% stake in M&M for Rs 1,778 cr

Prudential Management and Services, one of the promoters of Mahindra & Mahindra, on Thursday pared 0.75 per cent stake in the company for Rs 1,778 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Prudential Management and Services offloaded 93,00,000 shares, amounting to a 0.75 per cent stake in Mahindra & Mahindra. The shares were disposed of at an average price of Rs 1,912.04 apiece, taking the deal size to Rs 1,778.19 crore. Details of the buyers could not be ascertained. Shares of Mahindra & Mahindra tumbled 3.99 per cent to close at Rs 1,892 apiece on the NSE. In a late evening disclosure on Wednesday to the exchanges amid reports on the proposed block deal by the promoter group entity PMSL, Mahindra & Mahindra clarified that "post transmission of shares of PMSL held by the former Chairman of M&M, Late Keshub Mahindra (who passed away on 12th April, 2023), to his family members, the ...

Investors subscribe Gopal Snacks IPO 1.39 times on Day 2 of bidding

The initial public offer of Gopal Snacks received 1.39 times subscription on Thursday, the day two of bidding. The initial share sale received bids for 1,66,83,337 shares against 1,19,79,993 shares on offer, as per NSE data. The quota for retail individual investors (RIIs) was subscribed 2 times, while the non-institutional investors part received 1.62 times subscription and the qualified institutional buyers (QIBs) portion subscribed 9 per cent. The initial public offer (IPO) has an offer for sale of up to Rs 650 crore. The IPO is entirely an OFS of equity shares by promoters and other selling shareholders. Price Range for the offer is fixed at Rs 381-401 a share. Gopal Snacks Ltd on Tuesday said it has garnered Rs 194 crore from anchor investors. The Rajkot-based company's IPO will conclude on March 11. Founded in 1999, Gopal Snacks is a fast-moving consumer goods company in India, offering Namkeen, western snacks, and other products across India and internationally. As of Se

Investors subscribe JG Chemicals IPO 27.78 times on last day of offer

The initial public offer (IPO) of JG Chemicals was subscribed 27.78 times on the final day of bidding on Thursday. The Rs 251.2 crore IPO received bids for 22,69,11,245 shares against 81,68,714 shares on offer, according to data available with the NSE. The portion for non-institutional investors received 46.32 times subscriptions while the quota for Qualified Institutional Buyers (QIBs) subscribed 32.09 times, and the category for retail individual investors (RIIs) attracted 17.43 times subscriptions. The zinc oxide manufacturer's initial public offer proposed a fresh issue of up to Rs 165 crore shares and an offer for sale of up to 39 lakh equity. The IPO was in a price range of Rs 210-221 a share. JG Chemicals on Monday said it has collected over Rs 75 crore from anchor investors. Proceeds from the fresh issue to the tune of Rs 91 crore will be utilised for investing in JG Chemicals' material subsidiary BDJ Oxides, and Rs 35 crore will be used for funding the long-term working

Sebi bars JM Financial from acting as lead manager of any public debt issue

This came days after the Reserve Bank barred JM Financial Products Ltd from providing any form of financing against shares and debentures

Bajaj Auto hits new high; rallies 12% in one week after robust Feb sales

The sharp run-up in Bajaj Auto's stock has led to the company crossing Rs 2.5 trillion in market cap for the first time today

Sebi introduces settlement third scheme on illiquid stock option cases

Capital markets regulator Sebi on Wednesday introduced a third settlement scheme for entities involved in reversal trades in the stock options segment on BSE in 2014 and 2015. The scheme will commence on March 11 and conclude on May 10, the Securities and Exchange Board of India (Sebi) said in a statement. After the expiry of the scheme period, actions as per the relevant provisions of securities laws will be continued against the entities which do not avail this opportunity for settlement. Moreover, the regulator said that frequently asked questions with respect to the scheme will be available on the websites of Sebi and BSE on March 11. The scheme would provide a settlement opportunity to all the entities that have executed reversal trades in the stock options between April 1, 2014, and September 30, 2015, against whom proceedings have been initiated and are pending before any authority or forum. By availing the benefit of the scheme, the entities can settle such proceedings and

Sensex ends atop 74,000, Nifty 22,450 for 1st time; Smallcap index down 2%

Stock market highlights on March 6, 2024: The BSE benchmark hit a record high of 74,151, while the Nifty50 claimed 22,497 intraday

Motherson tanks 6% as promoter sells 4.4% stake; to dilute holding further

SWS said it intends to further dilute its remaining stake in Motherson over a medium to long term duration as the latter's diversified business lines are not its core areas of focus and expertise

JM Financial tanks 19% as RBI bars it from lending against shares, bonds

RBI barred JMFPL from financing of share of shares or debentures owing to violations and lapses