Page 97 - Stock Market

No fireworks from TCS Q2 nos, headcount dip keeps outlook bleak: Analysts

TCS Q2 results: There is limited visibility on demand recovery for the second half of FY24; Rs 17,000 crore buyback quantum is also below Street expectations, said analysts

Non-residents, foreign cos without PAN can open bank a/cs in IFSC-Gift City

Non-residents and foreign companies opening bank accounts in IFSC Gift City will not have to furnish PAN and instead file a declaration. The non-resident or the foreign company opening a bank account at the International Financial Services Centres (IFSC) will have to file a declaration in Form 60 and should not have any tax liabilities in India. The Finance Ministry has amended Income Tax Rules exempting non-residents opening a bank account from the requirement of submitting PAN. Gujarat International Finance Tec-City (GIFT)-IFSC is being promoted as a tax-neutral enclave for the financial sector. Nangia Andersen LLP Partner - Financial Services Sunil Gidwani said this relaxation will make it easy for foreign companies, NRIs and other non-residents to open a bank account with an IFSC bank. "It will boost the liability/deposits side as well as the retail business segment of a bank in IFSC," Gidwani said.

Sebi resolves over 3,700 complaints through SCORES in September

Sebi has disposed of 3,705 complaints against companies and market intermediaries through its online grievance redressal system SCORES in September, according to the data released by the regulator. As many as 17 complaints were pending for more than three months on SCORES as of September end, involving 12 entities such as Principal Mutual Fund and JM Financial Ltd. SCORES is a platform that allows investors to lodge their complaints online with Sebi related to the securities market against companies, intermediaries, and market infrastructure institutions. At the beginning of September, there were 4,707 complaints pending and 4,276 fresh complaints were received, as per the data released by Sebi on Tuesday. The regulator said that it had 5,259 pending actionable complaints as of September end, excluding 19 complaints that were under regulatory actions or legal proceedings. Further, Sebi noted that it had received 219 reviews of complaints. A complainant can request a review within

After RBI bans Bob World, Bank of Baroda shares decline around 3%

Shares of state-owned lender Bank of Baroda declined more than 3 per cent on Wednesday. On Tuesday, the Reserve Bank of India barred the Bank of Baroda from onboarding new customers on its mobile app 'Bob World' following material supervisory concerns. The action taken by the central bank is based on certain material supervisory concerns observed in the manner of onboarding customers onto its mobile application. In late morning trade, shares of Bank of Baroda declined 3.10 per cent to Rs 207.55 apiece and plunged further to Rs 207.20 apiece, registering a 3.27 per cent fall during the day on the BSE. On the NSE, the stock of the company dived 2.96 per cent to Rs 207.95 per piece and went lower by 3.22 per cent to close at Rs 207.40 per scrip. In the volume terms, 12.69 lakh equity shares were traded on the BSE, while 4.30 crore shares were on the NSE, during the day. The 30-share BSE Sensex rose 393.69 points to close at 66,473.05, while NSE Nifty gained 121.50 points to settle a

Shreyas Shipping opens delisting bid at Rs 400 a share, to close on Oct 17

Shreyas Shipping on Wednesday resumed its delisting offer at a counter offer price of Rs 400 per share and the offer will close on October 17. This is the second attempt at delisting after the company's shareholders had tendered shares at a price of Rs 890 per share as against the revised offer of Rs 375 apiece. The revised price was higher compared to the original price of Rs 338 per share announced early last month. Subsequently, the tendering was cancelled and the company decided to make a counter offer. As part of the delisting process, the counter offer bidding period for public shareholders of Shreyas Shipping at Rs 400 per share will start from October 11 and close on October 17, the parent company Transworld Holdings said in a note. The share price of the company was Rs 262 per share on May 19 (pre-delisting announcement) and the counter offer price is at a 52.7 per cent premium to the pre-announcement price. On a 60-day weighted average price, the floor price was Rs 292 a

Indian shares extend gains as US rate woes ease, TCS results eyed

The NSE Nifty 50 index settled 0.62% higher at 19,811.35, while the S&P BSE Sensex rose 0.60% to 66,473.05

HCLTech Q2 preview: ASAP deal to aid revenue growth; guidance revision eyed

HCL Tech Q2FY24 results preview: HCL Tech may post a 7 per cent yearly profit growth to Rs 3,739 crore, as per an average of six brokerage estimates, while revenue is pegged to rise 8.8 per cent YoY

Infosys Q2FY24 preview: Subdued earnings on cards despite mega deal wins

Infosys Q2FY24 results preview: Infosys' net profit may rise just 3.8 per cent on-year to Rs 6,252 crore, while revenue may see a 5 per cent uptick to Rs 38,437 crore

HR firm CIEL group to hit capital market with IPO by first half of 2024

The Initial Public Offering of human resources solutions provider CIEL Group is expected in the first half of 2024. The city-based company has 'rigorously' invested in optimizing the HR processes with digital intervention, said CIEL Group Executive Chairperson and Director K Pandiarajan on Tuesday. "CIEL's digital forays in the past year have majorly contributed to the growth of CIEL Group in the H1. I am confident that we are not far from our IPO plans, being the only player to provide a full spectrum of HR services and having a strong geographic presence with 77 offices in 47 locations in India," he said. "I take pride in announcing that CIEL has rigorously invested in optimizing HR processes with digital intervention," he told reporters. The IPO would help in strengthening these plans, positioning CIEL as the leading HR services provider, offering seamless end-to-end HR solutions, he added. The upcoming IPO is expected to enable CIEL to support its technology investments for ..

Sebi extends timeline for confirmation or denial of market rumours

To streamline disclosure requirements, Sebi has notified new rules and extended the deadlines for mandatory confirmation or denial of market rumours by listed companies. This came after Securities and Exchange Board of India (Sebi), through a circular in late September, gave more time to listed companies to comply with the deadlines. The deadline to confirm, deny, or clarify any market rumour reported in the mainstream media has been extended to February 1, 2024 for top 100 listed companies by market capitalisation, as per the circular. Earlier, it was scheduled to come into force from October 1, this year. Similarly, for top 250 listed entities, the rule will kick in on August 1, 2024, instead of April 1, 2024. To give this effect, the regulator has amended the Listing Obligations and Disclosure Requirements (LODR) rules, according to a gazette notification issued on Monday. The rule is aimed at strengthening the corporate governance of listed entities, it said. Under the discl

LIC's market share drops to 58.5% till September from 68.2% in a year

As a result, the life insurance industry's new business premium declined almost 13 per cent during the first six months, to Rs 1,58,376.81 crore

Adani Ports stock drops 4.5% on Haifa port worries over Israel conflict

Adani Ports is closely monitoring the conflict in Israel and is prepared with a business continuity plan, the company said in a statement

We've been exploring themes with secular implications: Prakash Kacholia

The strong first-quarter FY24 earnings are expected to normalise in the coming quarters, with a potential growth rate of 20-22 per cent, said Kacholia

Sebi extends dispatching period of hard copies of statements till Sept 2024

Capital markets regulator Sebi on Friday extended the relaxation to entities with listed non-convertible securities from dispatching physical copies of the financial statements to the holders of such securities till September 30, 2024. Earlier, the regulator had given similar relaxations to such entities till September 2023. Sebi's extension comes after the Ministry of Corporate Affairs last month provided similar relaxations to entities from dispatching physical copies of financial statements, including board's report, auditor's report or other documents. "Consequently, it has been decided to relax, up to September 30, 2024, the requirements of regulation 58 (1)(b) of the Sebi Listing Regulations," according to the circular issued by the markets regulator on Friday. Under the regulation 58 (1)(b) of the Sebi Listing Regulations, an entity with listed non-convertible securities will have to send a hard copy of statement containing the salient features of all the documents to those

Rate-sensitive sectors lead rise in stock market on RBI's repo rate pause

The NSE Nifty 50 index closed 0.55% higher at 19,653.50 points, while the S&P BSE Sensex rose 0.55% to 65,995.63. Both the benchmarks logged weekly gains, snapping a two-week losing streak

Sensex adds 364 pts, Nifty nears 19650 post RBI policy; Bajaj Finserv up 6%

Closing Bell on October 6, 2023: The broader markets, too, advanced in-line with the benchmarks with the BSE MidCap and SmallCap index up 0.66 per cent and 0.56 per cent, respectively

Nifty Pharma, Nifty Auto: Check these key levels for your trading strategy

The prevailing bias suggests a positive outlook, emphasizing a buy-on-dips strategy for Nifty Auto and its components, said Ravi Nathani

Analysts selective on sugar stocks as higher prices keeps outlook upbeat

Analysts expect lower output to keep sugar prices elevated at least for the next year, driving gains for the sector

Easing oil prices lifts market mood; Sensex up 406 pts, Nifty near 19,550

Closing Bell on October 5, 2023: L&T, Titan Company, TCS, Bajaj Auto, M&M, Infosys, Eicher Motors, Asian Paints, and ICICI Bank were the top stocks that supported the indices, rising up to 2.15%

Larsen & Toubro up 3% on securing large orders; jumps 49% so far in 2023

L&T's power biz arm on Wednesday bagged orders worth up to Rs 2,500 cr from the WBPDC, while on Tuesday, the transportation infrastructure biz arm received a project worth up to Rs 5,000 cr