Posts in category Business Standard
Sebi specifies process to follow for dematerialising units of AIFs (11-12-2023)
Capital markets regulator Sebi on Monday specified the process to be followed for dematerialising the units issued, in cases where investors are yet to provide demat account details to Alternative Investment Funds (AIFs).
Under the rules issued in June, AIFs with a corpus of Rs 500 crore or more were required to dematerialise all issued units by October 31, 2023.
Further, these AIFs will have to issue units only in dematerialised form from November 1, 2023, onwards.
Similarly, AIFs with less than Rs 500 crore corpus will have to dematerialise issued units by April 30, 2024, and issue only dematerialised units May 1 onwards.
The dematerialisation of AIF units is seen as a significant move towards digitisation, fostering transparency, and enabling effective monitoring of transactions in the financial landscape.
In a circular on Monday, Sebi said managers of AIFs will continue to reach out to existing investors to obtain their demat account details and credit the units issued to them
Sensex crosses 70,000 for the first time; mcap tops Rs 350 trillion (11-12-2023)
Benchmark indices shed early gains as investors await Fed decision
Jindal Stainless, PNB among four stocks to enter MSCI global index in Feb (11-12-2023)
A slide in shares of Indraprastha Gas and Petronet LNG could increase the risk of their expulsion from the MSCI index
60K to 70K: ICICI, ITC, L&T provide biggest lift in Sensex latest 10K lap (11-12-2023)
Nine index components have dragged the index lower by over 1,600 points since September 2021 and nearly half the components have underperformed
Consistent inflows push small-cap funds AUM past Rs 2 trn mark in Nov (11-12-2023)
Strong, incessant net flows and favourable market conditions propped up the assets base for the small-cap mutual fund category to cross Rs 2 lakh crore mark in November-end, a sharp surge of 69 per cent from a year earlier.
On a month-on-month basis, the Assets Under Management (AUM) of the category grew 10 per cent to Rs 1.99 lakh crore, data with the Association of Mutual Funds in India (AMFI) showed.
Since the fourth quarter of 2019-20, the AUM for the category has seen a phenomenal rise, due to favourable market movement, along with record net inflows.
Small-cap funds attracted Rs 37,178 in this year (till November). This includes Rs 3,699 crore last month and a record fund infusion of Rs 4,495 crore in October.
On the other hand, the large-cap category saw a pull out of Rs 2,688 crore in the first 11 months of this year.
"A few fund houses have limited the inflows in their small-cap funds over the last quarter given the sharp rise in flows and concerns on valuations," Morning
Indian govt bond yields steady before key US Nov inflation prints (11-12-2023)
India's retail inflation likely picked up in November due to higher food prices after declining for three months, bringing it closer to the upper end of the RBI's 2%-6% target range, a poll found
Crypto market eyes interest rates, expected bitcoin ETFs in 2024: Report (11-12-2023)
The price of bitcoin, the biggest cryptocurrency and the market's chief barometer, has more than doubled this year, reaching a 20-month high in November of $42,000 per token
Inox India, DOMS Industries among 5 companies to crowd IPO lane this week (11-12-2023)
The IPO lane is getting crowded as five companies, including India Shelter Finance and DOMS Industries, have lined up public offers this week on favourable market conditions.
The other three companies whose maiden public issues are slated to open are Inox Group entity Inox India, Jaipur-based retail jewellery company Motisons Jewellers and Mumbai-based Suraj Estate Developers, according to their Red Herring Prospectus (RHPs).
Together, these companies are estimated to raise at least Rs 4,200 crore.
This comes on the back of 10 companies successfully concluding their maiden public issues last month.
The list included the IPO (Initial Public Offerings) of Tata Technologies, which was the first company from the Tata Group to float an initial share sale in nearly two decades.
Tata Consultancy Services was the last IPO from the group in 2004.
Overall, the Indian IPO market witnessed more than 44 issues that collected around Rs 35,000 crore in the current fiscal FY24 (till November).
Refined copper demand likely to grow 11% in FY24 on infra boost: ICRA (11-12-2023)
India's refined copper demand is likely to grow 11 per cent in the current financial year on the back of the government's thrust on infrastructure development and a gradual transition to green energy, ICRA said on Monday.
The rating agency further said it expects a stable outlook for the country's domestic sector.
"ICRA projects copper prices to remain range-bound at current levels of 8,2008,300/tonne in the near term," it said in a statement.
It further said that the allocation of Rs 10 lakh crore for capital spending in the last Union Budget, coupled with ambitious targets set under the National Infrastructure Pipeline (NIP), is likely to drive copper consumption in the medium term.
In addition, in the real estate sector, significant incremental supply growth of 30 per cent in the top six Indian office space markets and 10 per cent growth in retail mall space is likely in FY'24, which is likely to spur copper wire demand.
Significant emphasis by the government on the smart city
Gold prices fall on a firm dollar as spotlight moves to US CPI data (11-12-2023)
In the limelight now, is the November US consumer price report due on Tuesday, which could offer more rate cut clues ahead of the Fed's statement and Chair Jerome Powell's comments on Wednesday