Page 83 - Stock Market

Stocks to Watch: Axis Bank, Info Edge, Matrimony, Hero Moto, Coal India,NLC

Stocks to Watch on March 2, 2024: Axis Bank will raise up to Rs 4,000 crore via NCDs. The base issue is worth Rs 1,000 crore and the green shoe option will be Rs 3,000 crore

Bharat Highways InvIT IPO subscribed 8 times on last day of offer

The Initial Public Offer (IPO) of Bharat Highways InvIT received 8 times subscription on the last day of offer on Friday. The IPO received bids for 82,53,24,300 units against 10,30,12,800 units on offer, according to data available with the NSE. The portion for institutional investors got subscribed 8.92 times and the other investors' portion received 6.93 times subscription. The IPO, aggregating up to Rs 2,500 crore, had a price range of Rs 98-100 per unit. Bharat Highways InvIT on Tuesday said it collected Rs 826 crore from anchor investors. Proceeds from the issue will be utilised to provide loans to the project SPVs (Special Purpose Vehicles) for repayment of their outstanding loans. Bharat Highways InvIT is an infrastructure investment trust established to acquire, manage, and invest in a portfolio of infrastructure assets in India. Its initial portfolio consists of seven road assets, all operating on HAM (Hybrid Annuity Model) basis, in Punjab, Gujarat, Andhra Pradesh, ...

Sensex, Nifty hit record highs: 4 factors behind the rally on March 01

The S&P BSE Sensex hit a record high of 73,819, while the Nifty50 touched 22,353 intraday

Stock of this music company has zoomed 250% in last 10 months

Shares of Tips Music had hit a record high of Rs. 530.95 on Thursday, February 29

Turning cautious: Retracing market volatility in February, shows data

The Nifty Smallcap 100 and the Nifty Midcap 100 posted their first monthly loss after three months, even as the benchmark Sensex and the Nifty managed to eke out 1 per cent gain

FPI inflows remain muted in February amid high valuations, shows data

Overseas funds seen favouring less expensive Korea, Taiwan markets

Sebi slaps Rs 4.8 mn fine on 8 entities for flouting regulatory norms

Capital markets regulator Sebi on Thursday slapped a fine of Rs 48 lakh on eight entities, including promoters of United Polyfab Gujarat Ltd (UPGL), for manipulating the share prices of the company. These entities have to pay the penalty jointly and severally within 45 days, as per an order. The order came after Sebi conducted an investigation of UPGL and trading by certain entities in the scrip of the company, to ascertain whether there was any violation of the provisions of the PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) rules. Based on the findings of the probe in the matter of trading by certain entities in the scrip of UPGL, the regulator initiated adjudication proceedings against these entities. Thereafter, the regulator issued a common show cause notice to the noticees on July 18, 2023. "...UPGL and Gagan Nirmalkumar Mittal in collusion with other Noticees i.e. Shiv Marketing and Trading, Vishwakarma Trading House, Anilkumar Mangalchand Mittal, Amay Spincot

Sebi bans 12 cos from securities market for V Marc stock manipulation

Sebi on Thursday barred 12 entities, including promoter of V Marc India Ltd, from the securities market for engaging in a fraudulent scheme to manipulate volumes and price of the company's shares. Additionally, the regulator impounded wrongful gains of Rs 6.38 crore made by some of the entities from the manipulative scheme, according to an interim order. This case primarily deals with fraudulent and manipulative trading in the scrip of V Marc India Ltd, listed on NSE's SME segment, prima facie orchestrated by the promoter and company management, along with connected parties. In its order, Sebi, prima facie, found that V Marc's promoter and MD Vikas Garg and Sandeep Kumar Srivastava, former Whole Time Director of the company-- engaged the services of Prijesh Kurani to 'operate the market'. It further noted that Kurani, in turn, in addition to using his own and his connected entities' trading accounts, engaged accounts of persons connected to Garg to manipulate the scrip. Further, G

Exicom Tele-Systems IPO gets subscribed 27.76 times on 2nd day of offer

The Initial Public Offering (IPO) of EV charger maker Exicom Tele-Systems Ltd received 27.76 times subscription on the second day of bidding on Wednesday. The Rs 429 crore-IPO got bids for 50,59,42,200 shares against 1,82,23,540 shares on offer, as per data available with the NSE. The quota for Retail Individual Investors (RIIs) got subscribed 64.73 times while the portion for non-institutional investors attracted 54.36 times subscription. The category for Qualified Institutional Buyers (QIBs) received 4.48 times subscription. The IPO got fully subscribed within hours of opening for bidding on Tuesday. It has a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band, by promoter NextWave Communications. At present, NextWave Communications holds a 76.55 per cent stake in the company, and HFCL, part of the promoter group, owns a 7.74 per cent ...

Platinum Industries IPO subscribed 22.19 times on second day of offer

The initial public offering of Platinum Industries got subscribed 22.19 times on the second day of offer on Wednesday. The Rs 235 crore-initial share sale received bids for 21,37,42,644 shares against 96,32,988 shares on offer, as per NSE data. The portion for non-institutional investors fetched 42.85 times subscription while the Retail Individual Investors (RIIs) part got subscribed 25.50 times. The category for Qualified Institutional Buyers (QIBs) received 90 per cent subscription. The Initial Public Offering (IPO) has a fresh issue of up to 1,37,61,225 equity shares. The price range is Rs 162-171 a share. Platinum Industries has mobilised over Rs 70 crore from anchor investors. It is a multi-product company, is engaged in the business of manufacturing stabilisers. Unistone Capital is the manager to the offer.

Limit flows into midcap, smallcap mutual funds: AMFI asks asset managers

AMFI made the request in a letter dated February 27, which has not been previously disclosed. It came following a communication from India's market regulator

Moderation in earnings growth may weigh on equities this year: Vinit Sambre

Sambre says while equities may do well in the long-term, it would be prudent for investors to reassess their asset allocation and bring it in line with their risk profile

Equity investors become poorer by Rs 6 trillion as stock markets crash

Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29. The market capitalisation (mcap) of BSE-listed companies eroded by Rs 6,02,338.56 crore to Rs 3,85,97,298.49 crore (USD 4.71 trillion). "Investors resorted to heavy selling ahead of Thursday's F&O expiry. Weak Asian market cues and Dow Futures indicating a negative start also led to a massive round of profit-taking across the board as benchmark Sensex closed below the crucial 73k mark. "The pessimism can also be attributed to lack of direction ahead of Thursday's release of the January US Personal Consumption and Expenditures (PCE) index, the Fed's preferred measure of inflation that tracks consumer spending," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. Among the Sensex firms, ...

Debt-addicted cos turn towards selling equity as interest costs skyrocket

Late last year, the chief financial officer at Myriad Genetics Inc. took a different tack, one the DNA-testing company hadn't seriously considered in over 16 years - selling shares

National Stock Exchange tweaks methodology for inclusion of companies

Lays more emphasis on 'free-float' mcap as selection criteria for small and midcap index

Exicom Tele-Systems IPO subscribed 10 times on first day of bidding

The Initial Public Offering (IPO) of EV chargers maker Exicom Tele-Systems Ltd got subscribed 10 times on the first day of subscription on Tuesday. The Rs 429 crore-IPO received bids for 18,23,99,200 shares against 1,82,23,540 shares on offer, translating into 10.01 times subscription, according to NSE data. The Retail Individual Investors (RIIs) part got subscribed 27.11 times while the quota for non-institutional investors received 19.03 times subscription. The Qualified Institutional Buyers (QIBs) category fetched 73 per cent subscription. The IPO got fully subscribed within hours of beginning of the bidding process. The IPO has a fresh issue of equity shares aggregating up to Rs 329 crore and an Offer For Sale (OFS) component of up to 70.42 lakh equity shares worth Rs 100 crore, at the upper end of the price band, by promoter NextWave Communications. At present, NextWave Communications holds a 76.55 per cent stake in the company, and HFCL, part of the promoter group, owns a 7.

Investors subscribe Platinum Industries IPO 8 times on Day 1 of bidding

The initial public offer of Platinum Industries received 8.04 times subscription on the first day of share sale on Tuesday. The Rs 235 crore-IPO received bids for 7,74,20,952 shares against 96,32,988 shares on offer, as per NSE data. The portion meant for non-institutional investors got subscribed 13.58 times while the Retail Individual Investors (RIIs) quota received 10.21 times subscription. The category for Qualified Institutional Buyers (QIBs) fetched 7 per cent subscription. The Initial Public Offer (IPO) has a fresh issue of up to 1,37,61,225 equity shares. The price range for the offer is fixed at Rs 162-171 a share. Platinum Industries has mobilised over Rs 70 crore from anchor investors. Platinum Industries, a multi-product company, is engaged in the business of manufacturing stabilisers. Unistone Capital is the manager to the offer.

'Single manager for commodity, overseas funds to cut costs for MFs'

Markets regulator Sebi's proposal of allowing mutual fund houses to have a single fund manager to oversee commodity and foreign investments is aimed at reducing the cost of managing the fund, a top official of Anand Rathi Wealth said on Tuesday. Sebi, on Friday, came out with a consultation paper proposing measures to support ease of doing business for Mutual Funds (MFs). In the draft paper, the regulator suggested appointing a single fund manager for domestic and overseas/commodity funds, relaxation of nomination requirement for joint holders and streamlining of prudential norms for passive schemes with respect to exposure to a single issuer within the AMC's group companies. This came after the Finance Minister in the FY24 Budget made an announcement to simplify, ease and reduce cost of compliance for participants in the financial sector through a consultative approach. "The appointment of a single fund manager for domestic and overseas/commodity funds is intended to reduce the co

Sebi asks small, mid-cap funds to disclose more information about risks

Heavy inflows have sent the Nifty small cap 250 index surging 71% over the past 52 weeks and lifted the Nifty mid cap 100 index 64%. That far exceeds the benchmark Nifty's 28% rise

GPT Healthcare IPO receives 8.5 times subscription on final day of bidding

The initial share-sale of GPT Healthcare Ltd, which operates and manages mid-sized multi specialty hospitals under the ILS Hospitals brand, was subscribed 8.52 times on the final day of the offer on Monday. The Initial Public Offering (IPO) of GPT Healthcare received 16,84,27,600 bids against 1,97,63,327 shares on offer, as per NSE data. The category for Qualified Institutional Buyers (QIBs) got subscribed 17.30 times, while the quota for Non-Institutional Investors received 11.02 times subscription. The portion for Retail Individual Investors (RIIs) got subscribed 2.44 times. On February 21, GPT Healthcare Ltd said it has collected Rs 157.54 crore from anchor investors. The Rs 525 crore IPO is a combination of a fresh issue of equity shares aggregating to Rs 40 crore and an Offer For Sale (OFS) of up to 2.6 crore equity shares by private equity firm BanyanTree Growth Capital II. BanyanTree, which holds 2.6 crore shares, or 32.64 per cent stake, in Kolkata-based GPT Healthcare, is