Posts in category Business Standard
Edelweiss Mutual Fund launches a factor-based business cycle fund (09-07-2024)
Explaining the strategy, Edelweiss MF said the fund will create three baskets representing quality, growth, and value stocks
Market capitalisation of BSE-listed firms at record high of Rs 451.27 trn (09-07-2024)
The market capitalisation of BSE-listed firms hit a record peak of Rs 449.88 lakh crore on Friday despite equity benchmark Sensex slipping marginally in a volatile trade.
The 30-share BSE Sensex dropped 53.07 points or 0.07 per cent to settle at 79,996.60, indicating market indecisiveness.
The market capitalisation (mcap) of BSE-listed firms hit a record peak of Rs 4,49,88,985.87 crore (5.39 trillion) on Friday.
"The domestic market traded with a mixed bias, with the heavy-weight banking sector acting as a laggard.
"While Midcap and Small Cap outperformed and the respective BSE indices hit an all-time high. Globally, investors now await the US non-farm payroll data to be released later today to gauge the trajectory of the US Fed's potential rate cuts," Vinod Nair, Head of Research, Geojit Financial Services, said.
The mcap of these firms reached Rs 4,47,30,452.99 crore (USD 5.36 trillion) on Thursday.
A total of 2,242 stocks advanced, while 1,686 declined and 88 remained unchange
Ashwin Sheth to invest Rs 5,000 cr to expand biz, to launch IPO in 2 yrs (09-07-2024)
Realty firm Ashwin Sheth Group on Tuesday announced an investment of around Rs 5,000 crore to expand its business and plans to launch its maiden public issue in the next 18-24 months to raise up to Rs 3,000 crore.
The Mumbai-based company said it has achieved sales bookings of around Rs 1,500 crore during the last fiscal, a three-fold increase from the 2022-23 financial year.
"We are targeting to double our sales bookings to Rs 3,000 crore in the current 2024-25 fiscal," the company's CMD Ashwin Sheth told reporters here.
He said the company plans to expand its business portfolio in the Mumbai Metropolitan Region (MMR) and is foraying into Bengaluru, Delhi-NCR.
It is also exploring to enter Hyderabad, Chennai and Goa.
"We are planning to launch an Initial Public Offering (IPO) in the next 18-24 months," Sheth said, adding that the company intends to raise Rs 2,000-3,000 crore through the public issue.
Ashwin Sheth Group will also enter into other segments like warehousing.
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Sebi invites public inputs on proposed changes to REIT, InvIT rules (09-07-2024)
Capital markets regulator Sebi on Tuesday said it has sought public views on the proposed amendments to the master circulars for REITs and InvITs.
In a consultation paper, Sebi said these amendments will provide clarity on the nomination rights of directors to the boards of REIT (Real Estate Investment Trusts) and InvIT (Infrastructure Investment Trusts) managers.
In the proposed amendments, the markets watchdog has addressed market participants' requests for clarification on the rights of unitholders to nominate a director to the board of the investment manager or manager of REITs and InvITs.
The changes propose that the restriction on nominating a unitholder nominee director will not apply if the right to appoint a nominee director is available as per the Sebi (Debenture Trustees) regulations.
Under the current norms, a unitholder holding a significant portion of units in an InvIT or REIT has the right to nominate a director, provided their unitholding exceeds a specified ...
Sensex, Nifty close at new record highs; Maruti Suzuki top gainer (09-07-2024)
Indian equities have largely been on an upward trajectory following the general election results amidst hopes of policy continuity, earnings stability, and stable macroeconomic numbers
HDFC Mutual Fund to halt new SIPs in its Defence Fund from July 22 (09-07-2024)
Scheme to take inflows only from existing SIPs, STPs
Rail Vikas Nigam successfully bids for South Eastern Railway project (09-07-2024)
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Expert panel suggests exchanges reduce options contract expiries: Report (09-07-2024)
The recommendations will be taken up for consideration next week, the sources added, declining to be named as they are not authorised to speak to the media
Virtual Galaxy Infotech raises Rs 21.44 cr ahead of IPO, to file DRHP soon (09-07-2024)
Virtual Galaxy Infotech on Tuesday said it has raised Rs 21.44 crore in its pre-IPO funding round from marquee investors.
The company is now gearing up to file its Draft Red Herring Prospectus (DRHP) with the stock exchange to launch its SME IPO, the company said in a statement.
Former RARE Enterprise Managing Director Devnanthan Govind Rajan, ex-director of Electra Partners Asia Fund Jayaraman Vishwanathan, and former COO & CFO of Yes Bank Asit Oberoi are among the investors who participated in the funding round.
Other investors include M Srinivas Rao, former MD at the Bill and Melinda Gates Foundation, India, Umesh Sahay and Abhishek Narbaria, Co-Founders of EFC(I); Darshan Gangolli, former Executive Director at Altico Capital (Real Estate Fund); Abhishek More, Founder and CEO of Digikore Studios; and Amit Mamgain, Senior VP of Equity Sales at AMSEC.
The company has appointed Shreni Shares as the merchant banker for the public offering.
Virtual Galaxy Infotech is a Hybrid SaaS .
JSW Steel consolidated steel production at 6.35 Mnt in Q1 FY25 (09-07-2024)
JSW Steel reported consolidated Crude Steel production for the first quarter of FY 2024-25 at 6.35 million tonnes. The Crude Steel production was lower by 1% YoY and 6% QoQ mainly due to a planned maintenance shutdowns.