Page 38 - Stock Markets

Sebi cautions investors against unregistered cos promising assured returns

Capital markets regulator Sebi on Tuesday cautioned investors against placing money with unregistered entities promising assured or exceptionally high returns on investments. While investing in the securities market, investors have been asked to conduct due diligence, verify the registration status of any entity claiming to be a Sebi-registered intermediary, and also verify enforcement action taken by the regulator against any entity. "Investors should be cautious of any entity that promises assured or exceptionally high returns. The principle of 'higher returns come with higher risks of losing your money altogether' holds true in the securities market," Sebi said in a statement. It further said that investments offering high returns usually involve high risk, including fraud risk, and there can be no guarantees of assured returns in the securities market. This cautionary statement came after the Securities and Exchange Board of India (Sebi) observed a rising trend of unscrupulous

Sensex ends choppy session 483 pts up; banks, IT stocks rally, metals slide

Stock market updates on February 13, 2024: In the broader markets, indices swung between zones with the BSE MidCap and SmallCap indices, eventually, closing 0.6% and 0.18% up, respectively

Strong revenue growth, margin expansion ahead for retail major Trent

The stock markets' enthusiastic response to the results has driven the share up by 25 per cent in just two sessions

Sebi mulls relaxation in timelines for FPIs' material change disclosures

Capital markets regulator Sebi on Wednesday came out with a proposal to relax timelines for disclosure of material changes by Foreign Portfolio Investors (FPIs). The regulator also suggested a framework for providing flexibility to FPIs in dealing with their securities after expiry of their registration. In its consultation paper, Sebi proposed categorising material changes notified by FPIs into two groups to set timelines for reporting such changes. Type I includes changes that require FPIs to seek fresh registration, or which affect any privileges or exemption available to such foreign investors and Type II includes all other material changes. The regulator has proposed that FPIs should report Type I changes within seven working days and provide supporting documents within 30 days and Type II changes require notification and supporting documents within 30 days. At present, FPIs get time up to seven working days to submit information to it with regard to any material change in it

Govt eyes deal with EU countries that could draw $100 billion investment

If finalised, it would mark the first time an investment commitment of this nature is secured by India as part of a free trade agreement

Investors subscribe Park Hotels IPO 59.66 times on final day of bidding

The initial share sale of Apeejay Surrendra Park Hotels, which runs hotels under the 'The Park' brand, got subscribed 59.66 times on the final day of bidding on Wednesday. The Rs 920 crore IPO received bids for 2,07,38,23,392 shares against 3,47,61,903 shares on offer, as per NSE data. The quota for Qualified Institutional Buyers (QIBs) garnered 75.14 times subscription while the portion for non-institutional investors subscribed 52.41 times. The category for retail individual investors (RIIs) received 30.35 times the subscription. The initial share sale of Apeejay Surrendra Park Hotels was fully subscribed on the first day of bidding on Monday. The Initial Public Offer (IPO) has a fresh issue of up to Rs 600 crore and an offer for sale of up to Rs 320 crore. The IPO had a price range of Rs 147-155 a share. Proceeds from the fresh issue would be utilised towards payment of debt and for general corporate purposes. Apeejay Surrendra Park Hotels Ltd mobilised Rs 409.5 crore from an

Garuda Construction and Engineering files IPO draft papers to raise funds

Garuda Construction and Engineering Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering. With this, the total number of draft offer documents filed by the companies has reached 10 in this year so far. The proposed IPO is a combination of a fresh issue of 1.83 crore equity shares and an Offer For Sale of 95 lakh equity shares by promoter PKH Ventures Ltd, according to the Draft Red Herring Prospectus (DRHP) uploaded on Sebi's website on Wednesday. Proceeds from the fresh issue will be used to support the working capital requirement of the Mumbai-based company and for general corporate purposes, including unidentified inorganic acquisition. PKH Ventures currently holds 77.07 per cent stake in Garuda Construction and Engineering. Garuda Construction and Engineering is involved in several projects for residential, commercial, residential-cum-commercial, hospitality, infrastructure and industrial projects. According to

Stocks to Watch today, Feb 7: Nykaa, ONGC, UPL, Britannia, Biocon, Paytm

Stocks to Watch on Wednesday, February 7, 2024: The parent company of Nykaa nearly doubled its consolidated net profit to Rs 16.2 crore during Q3FY24

Absence of surprises in Budget: Mkts flat as investors look for triggers

The Sensex ended the session at 71,645, a decline of 107 points or 0.2 per cent, while the Nifty50 index fell 17 points, or 0.08 per cent, to end 21,709

UPS to cut 12,000 jobs, shares drop nearly 6% in premarket trading

UPS slid before the opening bell on Tuesday as the package delivery company announced that it's eliminating approximately 12,000 jobs and looking at strategic options for its Coyote truck load brokerage business. Last year union members at UPS voted to approve a tentative contract agreement, putting a final seal on contentious labor negotiations that threatened to disrupt package deliveries for millions of businesses and households nationwide. On a conference call on Tuesday morning, CEO Carol Tome said that by reducing the company's headcount UPS will realise USD 1 billion in cost savings. We are going to fit our organisation to our strategy and align our resources against what's wildly important, Tome said. She also announced that this year UPS is returning to a policy of having its employees back in the office five days a week. United Parcel Service Inc. anticipates 2024 revenue in a range of approximately USD 92 billion to USD 94.5 billion. Analysts surveyed by FactSet predic

Republic Day 2024: Indian stock market to remain closed on January 26

The markets will also remain closed for the next two days on account of weekend holidays. This means the trading will resume on Monday, January 29

F&O expiry: Nifty ends Jan series near 21,350; Sensex drops 360 pts

Stock market highlights on January 25, 2024: The frontlines were dragged by Tech M, Axis Bank, Bharti Airtel, HCL Tech, Kotak Bank, HDFC Bank, Wipro, Asian Paints

Sensex zooms 690 pts, Nifty tops 21,450; broader indices gain nearly 2%

Stock market highlights on January 24, 2024: The pockets that helped the markets end higher were metals, PSU banks, pharma, and FMCG stocks

Chinese lawmakers weigh stock market rescue package backed by $278 billion

Policymakers are seeking to mobilize about 2 trillion yuan ($278 billion), mainly from the offshore accounts of Chinese state-owned enterprises

In a first, India overtakes Hong Kong as world's fourth-largest stock mkt

The combined value of shares listed on Indian exchanges reached $4.33 trillion as of Monday's close, versus $4.29 trillion for Hong Kong, according to data compiled by Bloomberg

Tata Elxsi Q3 net profit rises 6% to Rs 206 cr on transportation segment

The company's net profit rose to 2.06 billion rupees ($24.78 million) for the quarter ended Dec. 31 from 1.95 billion rupees a year ago

Near-term margin pressures to persist for Tata Communications stock

The consolidated operating profit grew 12 per cent Q-o-Q to Rs 1,130 crore led by Kaleyra, which turned the operating profit positive

Sebi mulling exemptions in AIF norms, may allow pledging of infra assets

Sebi has been consulting with the Reserve Bank of India (RBI) too, he added, to discuss the potential 'financial stability ramifications'

Weak earnings, fading US interest rate cut hopes drag Indian stock market

The blue-chip NSE Nifty 50 shed 0.51% to 21,462.25, while the S&P BSE Sensex lost 0.44% to 71,186.86

EPACK Durable sets Rs 218-230 price band for IPO worth Rs 640 crore

EAPCK Durable, the second-largest outsourced design manufacturer of room air-conditioners, on Tuesday fixed a price band of Rs 218-230 per share for its Rs 640 crore initial public offering. The share sale, which opens on January 19, comprises Rs 400 crore of fresh issue and a Rs 240-crore offer for sale by promoters, promoter group members, and existing shareholders who collectively be offloading 1.3 crore shares. Pre-issue, promoters own 67 per cent of the company. Two investor shareholders India Advantage Fund S4 I and Dynamic India Fund S4 US1, which are owned by ICICI Ventures, will be offloading a third of their total 20 per cent holding in the company, Bajrang Bothra, the chairman of the company told PTI here. Ajay Singhania, the managing director & chief executive, said ICICI Ventures entered the company in September 2021 with a Rs 160 crore funding for around 20 per cent stake. The company also has another external investor in Affirma Capital, which in September 2022 ...