Page 99 - Stock Market

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

In a first, India's unique investor count tops 80 million: NSE data

NSE says 17% of Indian household now invest directly in stocks

IFSCA forms panel to suggest steps for growth of fund management industry

Additionally, the committee is expected to advise IFSCA on new products or services, untoward market practices

Pharma firm Valiant Lab IPO subscribed nearly 71% on second day of bidding

The initial public offer (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 71 per cent on day two of subscription on Thursday. The initial share sale received bids for 54,25,770 shares against 76,23,030 units on offer, as per NSE data. The category for retail individual investors (RIIs) was subscribed 1.27 times, while the quota for non-institutional investors received 29 per cent subscription. The portion for qualified institutional buyers (QIBs) was subscribed 5 per cent. The IPO is an entirely fresh issuance of up to 1.08 crore equity shares with no offer-for-sale component. The price range for the offer is Rs 133-140 a share. Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd. -- and to meet the working capital requirements of the subsidiary company. Valiant Laboratories is an active pharmaceutical ingredient or bul

New investor registrations on NSE hits 10 million mark in last 8 months

Leading stock exchange NSE on Thursday said the number of new investor registrations reached 1 crore mark on its platform in the last eight months, taking the total to over 8 crore. These new investor registrations are not restricted to top-tier cities and cities beyond top 100 accounted for 45 per cent of new investor registrations, the National Stock Exchange (NSE) said in a statement. "The eight crore unique PAN investors correspond approximately to around 5 crore unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via the NSE's extensive nationwide network of trading members," it said. Total number of unique client code accounts registered with the exchange was at 14.9 crore -- clients could register with more than one trading member and included all registrations done to date. In terms of regions, states from northern part of India accounted for 43 per cent towards the last 1 crore new investor registrations, ...

Sebi renews licences of NSE Clearing, Indian Clearing Corp for three years

Capital market regulator Sebi has renewed the licences of NSE Clearing Ltd and Indian Clearing Corporation Ltd for three years. The three-year licence will be valid till October 2, 2026, according to two separate gazette notifications issued on Wednesday. NSE Clearing Ltd is a wholly-owned subsidiary of the National Stock Exchange (NSE) and Indian Clearing Corporation Ltd (ICCL) is an arm of BSE. While considering the applications for renewal of recognition by NSE Clearing and ICCL, Sebi said it would be in the interest of the trade, in the interest of securities market and also in the public interest to do so. The watchdog has renewed their recognition to function as clearing corporations "for three years commencing on October 3, 2023 and ending on October 2, 2026". NSE Clearing and ICCL are responsible for clearing and settlement of all trades executed on NSE and BSE, respectively, as well as carry out deposit and collateral management, and risk management functions.

Sluggish domestic demand, rising costs to hit prospects of tile firms

Sector reported record exports in July, expected to support setback in India market

Sensex rebounds 173 pts on buying in Reliance Industries, L&T, ITC

The Nifty gained 51.75 points to end at 19,716.45. It moved between a low of 19,554 and a high of 19,730.70 in day trading

Gift Nifty sets record single day trading of 3.86 mn contracts worth $15 bn

Gift Nifty index recorded an all-time high single day trading activity of 38.63 lakh contracts with a turnover of USD 15.25 billion (about Rs 1.27 lakh crore) on Tuesday. The index surpassed its previous record of a turnover of USD 12.98 billion touched on August 29, NSE IX said in a statement on Wednesday. Gift Nifty is a dollar-denominated futures contract based on the Nifty 50 index and is traded on the NSE IX, an international multi-assets exchange set up at GIFT City. Trading turnover on NSE IX has been growing since the commencement of a full-scale operation of Gift Nifty on July 3, 2023. Since the first day of full-scale operations, Gift Nifty has witnessed a total cumulative volume of over 4.59 million contracts with a total turnover of USD 178.54 billion. NSE IX offers a diversified portfolio of products, including Indian single stock derivatives, index derivatives, currency derivatives, depository receipts, commodity derivatives and global stocks.

Valiant Lab IPO sees nearly 33% subscription on first day of bidding

The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories was subscribed 33 per cent on the first day of subscription on Wednesday. The initial share sale received bids for 24,81,045 shares against 76,23,030 shares on offer, as per data available with the NSE. The portion for retail individual investors was subscribed 61 per cent while the category for non-institutional investors received 10 per cent subscription. The IPO is an entirely fresh issuance of up to 1.08 crore equity shares with no offer for sale component. The price range for the offer is at Rs 133-140 per share. Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd -- and to meet the working capital requirements of the subsidiary company. Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufacturing company with its focus on ...

Sai Silks Kalamandir makes quiet debut; lists 4% higher over issue price

It touched an intra-day high of Rs 238 on the NSE and BSE, at the time of this report. Nearly 18 million equity shares of the company had changed hands on the exchanges in total

Nuvama Wealth expects client assets growing by 15-20% this fiscal: Kehair

Nuvama Wealth Management, which got listed on Tuesday as the new combined entity of all the listed firms of the Edelweiss Group, expects assets under management growing by an average of 15-20 per cent through the rest of the current fiscal. As of June 2023, it manages over Rs 2.5 lakh crore of client assets and has over 2,700 employees across 90 offices worldwide. "I see the assets under management growing by an average of 15-20 per cent through the rest of the current fiscal ending March. Between March 2023 and June 2023, we added 30,000 crore in our AUM to Rs 2.5 lakh crore," Ashish Kehair, managing director and chief executive of Nuvama Group, told PTI after the listing of the company. Shares of Nuvama Wealth Management rallied more than 5 per cent to close at Rs 2,564.10 on the BSE with a market value of Rs 9,000 crore. The Nuvama Group now comprises all the companies of the Edelweiss group founded by Rakshesh Shah in 1993, barring the insurance and mutual fund businesses, and

Shree Renuka to acquire 100% stake in Anamika Sugar Mills for Rs 235 cr

Shree Renuka Sugars on Tuesday said it has entered into an agreement to acquire a 100 per cent stake in Anamika Sugar Mills for Rs 235.5 crore. Renuka Sugars is one of the leading sugar firms in the country. In a regulatory filing, Shree Renuka Sugars informed that it has "entered into a binding agreement i.e., the Share Purchase Agreement, dated 26th September 2023, with Anamika Sugar Mills Pvt Ltd for acquisition of 100 per cent of the equity shares of Anamika". The company intends to establish a presence in Uttar Pradesh, one of the largest sugar-producing states, and to cater to the markets of north and east India. "Acquisition of Anamika would enable the Company to gain access to existing sugarcane catchment area with a significant reduction in lead time for setting up the plant in Uttar Pradesh and easy access to skilled/unskilled labour," it added. The company said it might expand and modernise the plant. Anamika will become a wholly-owned subsidiary of the company. Shree

Manoj Vaibhav IPO subscribed 2.25 times on last day of subscription

The Initial Public Offering (IPO) of Manoj Vaibhav Gems N Jewellers was subscribed 2.25 times on the last day of subscription on Tuesday. The initial share sale got bids for 2,05,05,627 shares against 91,20,664 shares on offer, as per NSE data. The portion allotted for non-institutional investors was subscribed 5.18 times while the category for retail individual investors received 1.66 times subscription. The Qualified Institutional Buyers (QIBs) part was subscribed 1.06 times. The IPO had a fresh issue of up to Rs 210 crore and an offer for sale of up to 2,800,000 equity shares. The price range for the offer was at Rs 204-215 per share. The company mopped up Rs 81.05 crore from anchor investors on Thursday. The company, a regional jewellery brand in South India, has a presence in Andhra Pradesh and Telangana, with 13 showrooms across eight towns and two cities. The funds raised will be utilised for opening eight new showrooms, inventory for these stores and general corporate ..

Kontor Space IPO kicks off on Wednesday, price band at Rs 93 per share

Kontor Space Ltd said it has set the price band for its Rs 15.62 crore initial share sale at Rs 93 apiece, which will open for public subscription on Wednesday. The issue will conclude on October 3, and the shares will be listed on SME EMERGE platform of the National Stock Exchange (NSE), the company said in a statement on Monday. The Initial Public Offering (IPO) consists of a fresh issuance of up to 16.80 lakh equity shares at a face value of Rs 10 each. Proceeds from the issue will be utilised to make the payment of rental deposits of new co-working centres, capital expenditure for fit-outs of new co-working centres and for general corporate purposes. Investors can bid for a minimum of 1,200 equity shares in the public issue and in multiples of 1,200 equity shares thereof, the company said. "The capital from this IPO will empower us to expand and refine our services, ensuring we continue to meet the evolving needs of industry and our clients," Kanak Mangal, Promoter of Kontor S

Submit documents in PACL case by Oct-end for refunds: Sebi to investors

A high-powered Sebi committee has asked investors in PACL group's illegal schemes with claims of up to Rs 19,000 to produce original documents by October 31 to receive refunds. The panel has asked only those investors whose applications have been successfully verified to submit their original certificates. The committee, headed by former Chief Justice of India RM Lodha, is overseeing the process of disposing of properties to refund investors after verifying their genuineness. It has already initiated the process of refund in phases. The panel was set up by Sebi in 2016 following a Supreme Court order. The committee has decided to call for original PACL registration certificates from eligible investors with claims between Rs 17,001 and Rs 19,000, whose applications have been successfully verified, according to a statement published on Sebi's website on Monday. Accordingly, intimation through SMS will be sent to all eligible investors, requiring them to submit original PACL registrat

At 5-year high: This power & infra stock has zoomed 146% in last one month

The stock price of GVK Power & Infrastructure was locked in the 5% upper circuit for the eight day, trading at its highest level since September 2018 on the BSE

Apar Industries rallies 7% on fund raising plan; stock zooms 357% in 1 year

The board of directors of the company is scheduled to meet on Thursday, September 28, 2023 to consider fund raising plans

Indices edge up on gains in financials shares; end four-day losing streak

Analysts said a fresh uptick in US treasury yields is making investors jittery amid rising concerns over inflation and high interest rates while FIIs continue to offload shares in local equities

Indices edge up on gains in financials shares; end four-day losing streak

Analysts said a fresh uptick in US treasury yields is making investors jittery amid rising concerns over inflation and high interest rates while FIIs continue to offload shares in local equities