Posts in category Business Standard
M-cap of 9 of 10 most valued firms up Rs 1.30 trn; Airtel, TCS gain (03-12-2023)
The combined market valuation of nine of the top-10 most valued firms climbed Rs 1,30,391.96 crore last week, with Bharti Airtel and Tata Consultancy Services (TCS) emerging as the biggest gainers, amid an overall optimistic trend in equities.
Last week, the BSE benchmark jumped 1,511.15 points or 2.29 per cent.
Barring Reliance Industries, nine other companies including HDFC Bank, ICICI Bank, Infosys and Hindustan Unilever witnessed addition in their market valuation.
Bharti Airtel's valuation rallied Rs 23,746.04 crore to Rs 5,70,466.88 crore.
The market capitalisation (mcap) of TCS jumped by Rs 19,027.07 crore to reach Rs 12,84,180.67 crore.
HDFC Bank added Rs 17,881.88 crore, taking its market valuation to Rs 11,80,588.59 crore.
ITC's mcap climbed Rs 15,159.02 crore to Rs 5,61,159.09 crore and that of Bajaj Finance soared Rs 14,480.29 crore to Rs 4,48,446.82 crore.
The valuation of ICICI Bank surged Rs 12,085.42 crore to Rs 6,63,370.71 crore and that of Hindustan Unilever ad
Mkts to focus on state elections outcome, RBI’s rate decision: Analysts (03-12-2023)
Global trends, trading activity of foreign investors, outcome of state elections and RBI's interest rate decision are the major factors that will drive the movement in the domestic equity markets this week, analysts said.
"Global markets are currently in a fabulous mood. The US 10-year bond yield and the dollar index are also cooling off, which gives strength to the market. These factors will be closely monitored, as they have the potential to influence market sentiment," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
On the political front, the results of assembly elections in five states are eagerly anticipated, Gour said.
"A stable political environment could boost investor's confidence and drive the markets higher. Domestic and global macroeconomic data, trends in global stock markets, the movement of the rupee against the dollar, and crude oil will also dictate trends," he added.
From the macroeconomic data front, PMI (Purchasing Managers' Index) data fo
FPIs infuse Rs 9,000 crore in equities in Nov, inflow in debt at 6-yr high (03-12-2023)
After turning net sellers in the past two months, FPIs again made a comeback in the Indian stock markets in November and pumped in Rs 9,000 crore amid fall in US treasury bond yields and the resilience of the domestic market.
Additionally, Foreign Portfolio Investors (FPIs) made a net investment of Rs 14,860 crore in the debt market last month, making it the highest level in six years, data with the depositories showed.
Going forward, FPI response will be crucially determined by the market trend, which, in turn, will be influenced by the state election results, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
If the state election results turn out to be favorable for the ruling dispensation, the market will stage a rally, and overseas investors are unlikely to miss that rally by big selling, he added.
According to the data, FPIs made a net investment of Rs 9,000 crore in Indian equities in November.
This came after FPIs dumped Indian equities worth R
Sharp decline in FDI into India from Cayman Islands, Cyprus during H12023 (03-12-2023)
Foreign direct investment (FDI) into India from Cayman Islands and Cyprus contracted significantly during April-September this fiscal as the overall inflows declined by 24 per cent, according to the government data.
FDI from Cayman Islands dipped 75 per cent to USD 145 million during April-September from USD 582 million in the same period last fiscal, the data showed.
Similarly, inflows from Cyprus contracted by over 95 per cent to USD 35 million during the six-month period as against USD 764 million in April-September 2022-23.
Experts have attributed the sharp fall in FDI from Cyprus and Cayman Islands to a hightened scrutiny of applications.
Anjali Malhotra, Partner Regulatory, Nangia Andersen India said FDI inflows from other tax havens such as Singapore, and the UAE have also lost their sheen along with Cayman Islands and Cyprus during first half of 2023-24.
"...the recent decline in investment from Cayman Islands and Cyprus may be attributed to enhanced scrutiny of these ...
Jamshedpur-based Kross files Rs 500 crore maiden IPO papers with Sebi (02-12-2023)
Kross Ltd -- a specialist in manufacturing forging components for top OEMs -- has filed preliminary papers with capital markets regulator Sebi to raise Rs 500 crore through an Initial Public Offering (IPO).
The maiden public issue of the Jamshedpur-based company comprises a fresh issue of shares worth up to Rs 250 crore and an Offer for Sale (OFS) of shares aggregating up to Rs 250 crore by promoters, according to the Draft Red Herring Prospectus (DRHP) filed on Thursday.
The OFS portion consists of equity shares to the tune of up to Rs 168 crore by Sudhir Rai and Rs 82 crore by Anita Rai.
The company may undertake a pre-IPO placement of its securities worth up to Rs 50 crore. If such placement is undertaken, the fresh issue size will be reduced.
Kross proposes to utilise the net proceeds of the fresh issue for the purchase of machinery and equipment, payment of debt, and funding the working capital requirements of the company.
Besides, a portion will be used for general corporate
Gold price climbs Rs 220 to Rs 62,950, silver rises Rs 300 to Rs 79,500 (02-12-2023)
The price of 22-carat gold climbed Rs 200, with the yellow metal selling at Rs 57,700
TMS Ep574: Crypto exchanges, Hardik Pandya and IPL, auto stocks (01-12-2023)
Are crypto exchanges proving sceptics right? What is the importance of being Hardik Pandya? Is it time to
sell passenger vehicle stocks? What are crypto exchanges and how do they work? Answers here
Jindal Saw, others settle matter; dispute resolution platform from April (01-12-2023)
The Securities and Exchange Board of India (Sebi) has extended the timeline for implementing online dispute resolution (ODR) platform to April 2024
Sebi slaps fine of Rs 3 lakh on India Ratings and Research for lapses (01-12-2023)
Markets regulator Sebi has slapped a penalty of Rs 3 lakh on India Ratings and Research for certain lapses.
Sebi and the Reserve Bank of India conducted a joint inspection of the entity from August 22 to 29, 2022, and the period covered under the inspection was from August 1, 2021, to June 30, 2022.
In its order, Sebi said the inspection findings brought out two instances where the entity was not complying with the requirements of the regulator's circular.
The Securities and Exchange Board of India (Sebi) imposed the fine of Rs 3 lakh after taking into various mitigating factors, including that issuers and debenture trustees did not inform the rating agency about delay/ default on the payment of the NCDs (Non Convertible Debentures), investors were institutional investors and were adequately informed about the risks involved in the NCDs.
According to Sebi, there was a delay by the rating agency in recognition of a default done by Altico Capital India, and another instance was the .
Mutual funds keep the flow tap running for domestic equity market (01-12-2023)
Active equity schemes have raked in a net of Rs 1.3 trillion in the first 10 months of 2023, 17 per cent lower than the Rs 1.5 trillion net inflows recorded during the same period in 2022