Page 86 - Stock Market

The listing dilemma

When deciding between listing in India and the US, founders should prioritise long-term considerations over listing price

Inflation, industrial production data to drive market trends: Analysts

Stock markets would take cues from the upcoming macroeconomic data announcements and global trends besides keeping a watch on the trading activity of foreign investors, analysts said. The last batch of the ongoing earnings calendar would trigger stock-specific action, traders said. "This week, we have to deal with macroeconomic data on both the domestic and global front. Our IIP and retail inflation numbers will be released on February 12, while WPI will be released on February 14. The US CPI numbers will be released on February 13, while their retail sales numbers will be announced on February 15. "Amid these numbers, the movement in US bond yields and the dollar index will be watched. Apart from this, movement of crude oil and flows from institutional investors will be other important factors. The last batch of Q3 earnings can lead to stock-specific movements," said Santosh Meena, Head of Research, Swastika Investmart Ltd. NHPC, SAIL, BHEL, Hindustan Copper, Mahindra & Mahindra,

NSE Q3 results: Profit rises 8% to Rs 1,975 cr, income at Rs 3,517 cr

The National Stock Exchange (NSE) on Saturday reported an 8 per cent rise in consolidated net profit to Rs 1,975 crore for three months ended December 2023. The consolidated income from operations stood at Rs 3,517 crore for the October-December quarter of the current financial year (2023-24), a surge of 25 per cent year-on-year, NSE said in a statement. Apart from trading, the total revenue was also supported by other revenue lines, including listing, index services, data services and co-location facility, the exchange added. During the first nine months of FY24, NSE contributed Rs 28,131 crore to the exchequer, which comprised STT (Securities Transaction Tax) of Rs 23,137 crore, Income tax (Rs 1,490 crore), Stamp duty (Rs 1,456 crore), GST (Rs 1,257 crore) and Sebi charges (Rs 791 crore). On the trading volumes front, cash markets recorded an average daily traded volumes (ADTVs) of Rs 80,512 crore, a growth of 50 per cent on a year-on-year (YoY) basis, equity futures reached an A

BSE Mid & SmallCap indices sink 3%: What's driving the underperformance?

The broader market breadth was weak with 2,813 stocks declining and 823 gaining on the BSE

Walt Disney's stock soars on strong results ahead of face-off with Peltz

The entertainment giant issued an upbeat profit outlook for the year, giving Chief Executive Officer Bob Iger ammunition to deflect proxy challenges at its shareholder meeting this spring

Rashi Peripherals IPO receives 3.19 times subscription on Day 2 of offer

The initial share sale of information and communications technology products distributor Rashi Peripherals received 3.19 times subscription on Thursday, the second day of bidding. The Initial Public Offer (IPO) received bids for 4,53,93,936 shares against 1,42,37,289 shares on offer, according to data available with the NSE. The portion for non-institutional investors got subscribed 5.88 times while the category for Retail Individual Investors (RIIs) attracted 3.45 times subscription. The quota for Qualified Institutional Buyers (QIBs) received 72 per cent subscription. The initial public offer of up to Rs 600 crore is in a price range of Rs 295-311 a share. The IPO is completely a fresh issue of equity shares. Rashi Peripherals on Tuesday mobilised Rs 180 crore from anchor investors. Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes. Last month, Rashi Periphe

Capital Small Finance Bank IPO subscribed 1.19 times on day two of bidding

The initial public offer of Capital Small Finance Bank Limited on Thursday got subscribed 1.19 times on the second day of bidding. The Rs 523 crore-initial share sale received bids for 97,15,520 shares against 81,47,373 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 1.34 times subscription while the quota for Qualified Institutional Buyers (QIBs) got subscribed 1.06 times. The portion for non-institutional investors fetched 1.03 times subscription. The Initial Public Offer (IPO) has a fresh issue of up to Rs 450 crore and an Offer For Sale component of up to 15,61,329 equity shares. Those selling shares in the OFS include Oman India Joint Investment Fund II, American Capital, and Amicus Capital Private Equity. The IPO has a price range of Rs 445-468 a share. The initial share sale of Capital Small Finance Bank Ltd received 50 per cent subscription on the first day of bidding on Wednesday. Capital Small Finance Bank on Tuesday colle

BoI MF aims to raise Rs 500 cr from multi-asset allocation fund in NFO

Bank of India Mutual Fund is targeting to garner at least Rs 500 crore through its newly launched multi-asset allocation fund during the primary subscription period. The new fund offer (NFO) of Bank of India Multi Asset Allocation Fund, which opened for subscription on February 7, will close on February 21. The new scheme is designed for investors who are seeking low volatility in their portfolio and exposure to multiple asset classes -- equity, debt and gold -- with better returns. On the fundraising target, Mohit Bhatia, CEO of Bank of India Investment Managers Private Ltd, told PTI, "We have kept an internal target of at least Rs 500 crore collections across our distribution channels during the NFO period." He said that the new scheme is aiming to capture the positives of the three asset classes. "The structural outlook on Indian equities continues to be quite good over the long term. Further, the general outlook on global and domestic interest rates seems to point to a likelih

China replaces top securities regulator as Xi Jinping tries to end rout

The shift comes after Chinese authorities struggled to halt a selloff in the world's second-largest stock market with piecemeal support measures over the past few months

Sebi proposes ways for deregistered offshore funds to dispose of securities

A discussion paper is the first step taken by the Securities and Exchange Board of India (SEBI) before it finally changes its rules for market entities

Stock markets settle flat in volatile trade ahead of RBI's rate decision

Benchmark stock indices Sensex and Nifty closed flat in a volatile trade on Wednesday as investors stayed on the sidelines ahead of RBI's interest rate decision on Thursday. The 30-share BSE Sensex declined 34.09 points or 0.05 per cent to settle at 72,152. During the day, it hit a high of 72,559.21 and a low of 71,938.22. The Nifty ended marginally up by 1.10 points or 0.01 per cent to 21,930.50. IT shares TCS, Infosys and Tech Mahindra declined due to profit taking offsetting gains from select banking and pharma shares. "The domestic market exhibited cautious range-bound movement, despite robust PMI data and favourable global cues ahead of RBI policy meet. While no change in stance is anticipated, the RBI's commentary on any hints regarding potential rate cuts and improvements in liquidity will be closely monitored," Vinod Nair, Head of Research, Geojit Financial Services said. Among the Sensex firms, State Bank of India rose the most by 3.78 per cent after the bank announced th

China's stock exchanges restrict share selling by some hedge funds

They appear to be now targeting the private fund sector, particularly hedge funds using quantitative trading strategies that typically involve short-selling

TRF zooms 20%, Tata Steel nears record high on calling off merger plan

In the past two trading days, the stock of the Tata Group firm has zoomed 29 per cent. Currently, it is trading at its highest level since September 2022

Sebi issues guidelines for returning draft document of public issues

Markets regulator Sebi on Tuesday came out with guidelines for returning the draft offer document for public issues and its resubmission in a bid to provide greater clarity and consistency in the disclosures as well as for timely processing. In a circular, Sebi said the draft offer document for public issue or rights issue of securities will be scrutinized based on the broad guidelines specified by it and accordingly, such document will be returned to the issuer for resubmission. Under the guidelines, the draft offer document is required to be prepared in simple language with visual representation of data to ensure ease of understanding of its contents and the information needs to be presented in a clear, concise, and intelligible manner. The draft offer document needs to avoid complex presentations; vague and ambiguous and imprecise explanations; repetition of disclosures in different sections of the document and inconsistency in the data or facts provided in different sections of

Investors subscribe Park Hotels IPO 5.82 times on second day of offer

The initial public offering of Apeejay Surrendra Park Hotels, which runs hotels under the 'The Park' brand, got subscribed 5.82 times on the second day of the offer on Tuesday. The Rs 920 crore-IPO received bids for 20,21,97,696 shares against 3,47,61,903 shares on offer, as per NSE data. The portion for Retail Individual Investors (RIIs) fetched 13.11 times subscription while the quota for non-institutional investors got subscribed 10.35 times. The category for Qualified Institutional Buyers (QIBs) attracted 1.26 times subscription. The initial share sale of Apeejay Surrendra Park Hotels was fully subscribed on the first day of bidding on Monday. The Initial Public Offering (IPO) has a fresh issue of up to Rs 600 crore and an Offer For Sale (OFS) component of up to Rs 320 crore. Price range for the offer is Rs 147-155 a share. 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 pre

China tightens some trading restrictions for domestic, offshore investors

Some quantitative hedge funds meanwhile were banned from placing sell orders completely starting Monday, while others were barred from cutting stock positions in their leveraged market-neutral funds

Nvidia eyes fresh record as Goldman Sachs bullish on AI prospects

The stock rose 3.4% to $683.80 in premarket trading and looked set to add about $55 billion to the company's market capitalization. It was valued at $1.63 trillion as of Friday's close

Apeejay Surrendra Park Hotels IPO subscribed 2.52 times on Day 1 of bidding

The initial public offer of Apeejay Surrendra Park Hotels, which runs hotels under the "The Park" brand, was fully subscribed on the first day of bidding on Monday and ended with 2.52 times subscription. The Rs 920 crore IPO received bids for 8,75,33,280 shares against 3,47,61,903 shares on offer, as per NSE data. The category for Retail Individual Investors (RIIs) received 5.70 times subscription while the quota for non-institutional investors fetched 3.24 times subscription. The portion meant for Qualified Institutional Buyers (QIBs) got subscribed 1.17 times. The Initial Public Offer (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale component of up to Rs 320 crore. The IPO has a price range of Rs 147-155 a share. 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

BSE Q3 results: Profit doubles to Rs 108 cr, revenue up 76% at Rs 431 cr

Leading stock exchange BSE Ltd on Monday said its net profit doubled to Rs 108.2 crore in December quarter. In comparison, the exchange had posted a net profit of Rs 51.6 crore in the year-ago period, BSE said in a statement. The bourse achieved its highest quarterly revenue ever at Rs 431.5 crore in the October-December period of the current fiscal, marking a surge of 76 per cent from Rs 245 crore registered in the year-ago period. The exchange's mutual distribution platform, BSE StAR MF, saw the total number of transactions soaring 60 per cent to reach 10.9 crore in the third quarter of the current fiscal from 6.86 crore in the corresponding quarter last year.

RBI interest rate decision, global trends to dictate stock mkts: Analysts

Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8. The Q3 quarterly results season will continue to remain in focus. Bharti Airtel, Power Grid, Nestle, Lupin and Tata Power will announce their results this week," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices, Gour said. Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also be monitored, he added. "With the US Fed and interim Budget now behind, all eyes w