Page 98 - Stock Market

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

Sell Nifty PSU Bank on rise; buying opportunity in Nifty FMCG at this level

According to Ravi Nathani, traders eyeing Nifty FMCG index might find value in purchasing when the index nears the lower limit of its current range

Updater Services makes muted market debut, falls 6% below issue price

Shares of integrated facilities management company Updater Services Ltd made a muted market debut on Wednesday, ending the day with a discount of nearly 6 per cent, against the issue price of Rs 300. The stock made its debut at Rs 299.90, lower by 0.03 per cent from the issue price on the BSE. During the day, it declined 6 per cent to Rs 282. The stock ended at Rs 283.85 apiece, down 5.38 per cent. On the NSE, the stock listed at Rs 285, down 5 per cent from the issue price. During the day, it declined 6 per cent to Rs 282. Shares of the company ended at Rs 283 per piece, down 5.66 per cent. The company commanded a market valuation of Rs 1,893.36 crore. In volume terms, 1.86 lakh shares of the company were traded on the BSE and over 22.98 lakh shares were traded on the NSE during the day. The initial public offer of Updater Services was subscribed 2.90 times on the final day of subscription last week. The Rs 640 crore-IPO had a fresh issue of equity shares aggregating up to Rs 4

KeyBanc downgrades Apple, believing company valuation near all-time high

Shares of Apple are still up 33% this year, though they have retreated nearly 13% from their July record high amid the tech selloff sparked by concerns over high interest rates

Sensex, Nifty50 close at dip as US treasury yields hit highest since 2007

Market participants also exercised caution ahead of the Reserve Bank of India's upcoming monetary policy announcement

Apple CEO Tim Cook gets $41 million from biggest share sale since 2021

Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. He made $355 million from a stock sale in August 2021

IPO fund mop-up declines 26% to Rs 26,300 crore during April-Sept

Fundraising through mainboard IPOs declined 26 per cent to Rs 26,300 crore in the first half of the fiscal, even as the number of issues more than doubled to 31. In the first half of FY23, the amount raised via Initial Public Offerings (IPOs) stood at Rs 35,456 crore through 14 issues, according to data collected by Prime Database. However, excluding the mega LIC issue in May 2022, fund mobilisation this year jumped 76 per cent year-on-year. According to Pranav Haldea, Managing Director of the portal, fundraise via equities rose 69 per cent to Rs 73,747 crore in the April to September period, from Rs 43,694 crore in the first half of FY23. This includes the money raised through the SME issue platforms, InvITs, REITs, OFS, QIP and public debt issues, he said. Including SME issues, the money raised stood at Rs 29,032 crore in the reporting year, down from Rs 36,594 crore in H1, FY23. Offer for Sale (OFS) amounts, including InVITs and REITs, plunged to Rs 1,446 crore in the period u

Apple CEO Tim Cook gets $41 million from biggest share sale since 2021

Cook sold 511,000 shares, which were worth about $87.8 million before accounting for taxes, according to the filing dated Tuesday. He made $355 million from a stock sale in August 2021

Stock of this PSB has nearly doubled in 2 months; m-cap nears Rs 1 trillion

The stock of the public sector bank (PSB) touched Rs 51, its highest level since March 2015, on improved operating performance

JSW Infrastructure shares jump over 32% to settle at Rs 157 in debut trade

Shares of JSW Infrastructure, a part of JSW Group, on Tuesday made a remarkable market debut and ended with a premium of over 32 per cent against the issue price of Rs 119. The stock made its debut at Rs 143, registering a jump of 20.16 per cent from the issue price on the BSE. It rallied 32.18 per cent to settle at Rs 157.30. At the NSE, it listed at Rs 143. Shares of the company ended at Rs 157.30 apiece, climbing 32.18 per cent. The company commanded a market valuation of Rs 33,033.02 crore. In traded volume terms, 57.99 lakh shares of the company were traded at the BSE and over 12.21 crore shares at the NSE during the day. In the equity market, the 30-share BSE Sensex declined 316.31 points or 0.48 per cent to settle at 65,512.10. The Nifty fell 109.55 points or 0.56 per cent to end at 19,528.75. The Initial Public Offering (IPO) of JSW Infrastructure was subscribed 37.37 times on the last day of bidding on Wednesday. The Rs 2,800-crore IPO had a price range of Rs 113-119 pe

Winro Commercial India sells Sheela Foam's shares worth Rs 93 crore

Winro Commercial India Ltd on Tuesday offloaded shares of Sheela Foam, the maker of popular mattress brand Sleepwell, for Rs 93 crore through an open market transaction. According to the block deal data available with the National Stock Exchange (NSE), Winro Commercial India sold more than 8.34 lakh shares at an average price of Rs 1,114 apiece. This took the deal value to Rs 92.97 crore. These shares were purchased by Blue Diamond Properties Pvt Ltd at the same price. Shares of Sheela Foam fell 0.49 per cent to close at Rs 1,136 per piece on the NSE. In July, Sheela Foam Ltd said it will acquire a 94.66 per cent stake in Kurlon Enterprises Ltd (KEL) for Rs 2,150 crore.

Sebi to introduce mechanism for verification in case of demise of investors

Capital markets regulator Sebi on Tuesday announced a centralised mechanism for reporting and verification through the KYC Registration Agency in case of the demise of an investor. Also, the regulator has put in place operational norms, including the obligations of regulated entities and registered intermediaries that have interfaces with investors or account holders who are natural persons. The new framework will come into effect from January 1, 2024, the Securities and Exchange Board of India (Sebi) said in a circular. Sebi said that listed companies wishing to provide beneficial access to such a centralized mechanism to their investors holding securities in physical form can establish connectivity with KRA through their RTAs. After receiving intimation about the demise of an investor, the concerned intermediary will have to obtain the death certificate along with the PAN from the notifier or nominee and verify the death certificate through online or offline mode. If the concern

DMart's operational revenue rises 18.51% to Rs 12,307 crore in Jul-Sept

Avenue Supermarts Ltd, which owns and operates retail chain DMart, on Wednesday reported an 18.51 per cent increase in its standalone revenue from operations at Rs 12,307.72 crore in the second quarter of this fiscal. The company had registered a revenue from operations of Rs 10,384.66 crore in the July-September quarter a year ago, Avenue Supermarts informed BSE in a regulatory filing. "Standalone Revenue from operations for the quarter ended September 30, 2023, stood at Rs 12,307.72 crore," said Avenue Supermarts in the regulatory filing while sharing the company's update at the end of the quarter. The total number of DMart stores as of September 30, 2023 stood at 336. In the July-September quarter of FY22, Avenue Supermarts' standalone revenue stood at Rs 7,649.64 crore. Promoted by Radhakishan Damani and his family, DMart retails basic home and personal products across markets which include Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgar

JSW Infra makes strong debut; extends gain to zoom 32% over issue price

The stock moved higher to Rs 157, up 32 per cent over its issue price of Rs 119, after being listed at Rs 143 on the NSE

STOXX 600 index declines 1% to six-month low on higher bond yields

The pan-European STOXX 600 index reversed early gains to fall 1.0% on Monday, hitting its lowest intra-day low in since end of March

Mutual fund reclassification rules: 6 years in, rolling with the best

Even as Sebi's classification norms for MF schemes approach six years of completion, we examine the three-year rolling returns of schemes in the top categories to identify the best performers

New quarter, same struggles for stocks, bonds and currency markets

A opening move higher from the pan-European STOXX 600 quickly gave way in the face of some weak PMI data, denting traders' hopes for its first three-session run of back-to-back gains

Stock market closed today on Gandhi Jayanti: List of all market holidays

Stock market holiday: After Mahatma Gandhi Jayanti on October 2, the market will be closed on October 24, Tuesday, for Dussehra

Chinese stock investors say worst yet to come in country's property crisis

Sentiment has only worsened this week as worries about liquidity and weak housing demand intensified

Vedanta to spin off, list six businesses to attract big-ticket investment

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited