Page 7 - Stocks

PSU insurers' stocks surge on attractive valuation, RBI's risk weight norms

Low-float stocks are the companies with a relatively small number of shares available for public trading

Billionaire Gautam Singhania's separation erases $180 mn at Raymonds

The stock has tumbled 12 per cent since Nov. 13 when Singhania announced separation from Nawaz Singhania, his wife of 32 years and a Raymond board member

Airtel approves allotment of 1.4 mn equity shares to certain FCCBs holders

Bharti Airtel on Friday said its committee of directors has approved allotment of 14.16 lakh fully paid-up equity shares at a conversion price of Rs 518 per equity share to certain Foreign Currency Convertible Bond (FCCB) holders. This followed the receipt of notice for conversion of FCCBs of principal value of USD 10,188,000 from the FCCBs holders. "We wish to submit that upon receipt of notice for conversion of FCCBs of principal value of USD 10,188,000 from certain FCCBs holders, the special committee of directors for fund raising has, today approved the allotment of 1,416,607 fully paid-up equity shares of face value Rs 5 each at a conversion price of Rs 518 per equity share to such holders of FCCBs," Bharti Airtel said in a BSE filing. Put simply, FCCB is a quasi-debt instrument. While it serves as a bond by making regular coupon and principal payments, these instruments also grant the bondholder, stock conversion option. "This is in reference to the USD 1,000 million 1.50 per

TMS Ep566: Regulating OTT, Punjab crop mix, new-age stocks, Afghan refugees

Should the govt regulate what you watch on Netflix? Does Punjab need a new crop mix? Is it time to bet on new-age stocks? Why is Pakistan deporting Afghan refugees? Answers here

Direct investing bhi sahi hai: NSE CEO Chauhan's pitch for more retail play

NSE's chief executive and managing director Ashishkumar Chauhan on Thursday said retail investor participation is increasing in the markets, and the group has become a formidable force. Borrowing from a popular campaign run by the mutual fund industry, Chauhan said, "direct investing bhi sahi hai" (direct investing in equities is also correct). The NSE chief was, however, quick to add a caveat. Chauhan said he invests his personal wealth only in mutual funds and not in direct equity participation. Amid heightened concerns over retail investors' play in the more riskier futures and options segment, Chauhan presented a data, saying only 0.3 per cent of the overall traded premiums in the market in October were bets under Rs 1 lakh. He said there is a need to look at data before forming opinions, and not to be driven by beliefs. Retail investors now possess a wealth of Rs 60 lakh crore, which is about a fifth of the overall wealth of all the investors in the market, he said. This gro

Sebi turns up heat on unregistered influencers giving tips on social media

The regulator's order is at least the third high-profile crackdown on a financial influencer this year

Valuation hurdle, competition may cap upside for Dixon Technologies

Company leads India's electronic manufacturing services and has improved revenue by 32% in the last decade

As economy expands, growth becomes more deep-rooted: Anand Radhakrishnan

Radhakrishnan adds that the realistic expectation should be a correction in mid and smallcaps rather than a further rally in largecaps to bring down the valuation differential

Capri Global sells Indiabulls Housing Finance's shares worth Rs 43 cr

Capri Global Holdings Pvt Ltd on Wednesday sold shares of mortgage financier Indiabulls Housing Finance for Rs 43 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Capri Global Holdings offloaded 25 lakh shares, amounting to a 0.53 per cent stake in Indiabulls Housing Finance Ltd. The shares were disposed of at an average price of Rs 171.45 apiece, taking the deal size to Rs 42.86 crore. After the transaction, Capri Global Holdings' stake in Indiabulls Housing Finance has declined to 3.08 per cent from 3.61 per cent. Details of the buyers could not be ascertained. Shares of Indiabulls Housing Finance plunged 6.47 per cent to settle at Rs 171.20 per piece on the NSE.

SME stocks to come under additional surveillance, T2T framework: NSE

The process of identifying stocks moving to the TFT segment will be done fortnightly and stocks moving to and from the segment shall be on a quarterly basis

PFC gets shareholders' nod to issue bonus shares in proportion of 1:4

State-owned Power Finance Corporation (PFC) has received shareholders' approval to issue bonus shares by capitalising up to Rs 660.02 crore in its securities premium account. "All business items proposed for the 37th AGM of the company have been approved with requisite majority," a BSE filing said. The PFC had proposed to issue bonus shares by capitalising securities premium account to the extent that each shareholder is entitled to a new equity share of Rs 10 each for every four equity shares of Rs 10 each. The proposal was listed for the annual general meeting (AGM) held on September 12. The PFC's board, at its meeting on August 11, recommended issuing bonus shares to shareholders in the proportion of 1:4 by capitalising Rs 6,60,02,03,520 in the securities premium account. The company also got shareholders' approval to appoint Parminder Chopra as its Chairman and Managing Director (CMD). Pursuant to the Ministry of Power order on August 14, 2023, the board of directors, on the

Volume, margin movement to be key drivers for Concor stock going ahead

Despite the weak Q1 show, the company is confident of meeting its EXIM growth target of 10-12% in FY24 given signs of recovery, and expects to maintain margins at the FY23 level (22.7%)

Sebi hid facts, slept over DRI's letter on stock manipulation by Adani: PIL

On August 25, Sebi informed the apex court it has completed the probe in all but two allegations against the Adani Group and is still awaiting information from five tax havens

BSE changes Jio Financial Services stock price band to 20% from 5%

Leading stock exchange BSE has revised the circuit limit of Jio Financial Services, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance group, to 20 per cent from the existing 5 per cent. The new limits will be effective from Monday, September 4, according to a notification issued by BSE. The move would ensure stock prices do not fluctuate beyond a prescribed level during a session. Further, market experts believe that the stock will be out of the trade-to-trade segment next week. Apart from Jio Financial, the price band for nine companies, including RailTel and India Pesticides, has been revised to 10 per cent. A circuit filter mechanism is used by BSE to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day. Additionally, the stock of Jio Financial was removed from all the BSE Indices, including the benchmark Sensex, on September 1. Shares of Jio Financial got listed on the stock exchanges on

Shares of SBFC Finance gains 62% on trading debut, subscribed over 70 times

The company has 152 branches spread across 120 cities and 16 Indian states

Adani Power has shares worth $1 bn change hands in attempt to recover

The company's stock fell as much as 4.1% after the bunched trades to Rs 274.4 ($3.30) and based on the average price, the deals are worth $1 billion, according to Bloomberg calculations

E-commerce retailer Nykaa's stock declines the most in nine months

The brokerage downgraded the stock to ADD and revised its target price to Rs 165 from Rs 210

LTI Mindtree replaces HDFC in benchmark Nifty; JSW Steel added to Sensex

Analysts said going ahead LTIMindtree and JSW might benefit as both the indices are popular benchmarks for ETFs

Godrej Properties eyes strong growth on robust demand, new launches

The stock has gained 56 per cent over three months on consecutive quarters of high bookings

Apple stock hits record, on the cusp of $3 trillion market capitalisation

The iPhone maker's stock rose 0.6% to end the day at $189.25, putting Apple's market value at $2.98 trillion, according to Refinitiv data