Posts in category Business Standard
FPIs outflow in equities crosses Rs 10,000 cr mark in Sep on rising rates (24-09-2023)
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks.
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
"Since valuations remain high even after the recent pullback and US bond yields are attractive (the US 10-year bond yield is around 4.49 per cent) FPIs are likely to press sales so long as this trend persists," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data with depositories, in the 15 trading days, so far in September, FPIs
Deadline to add nominees for MF investors, demat account ends on Sep 30 (24-09-2023)
All individual demat account holders and mutual fund investors have time till September 30, to nominate a beneficiary or opt out of it by submitting a declaration form, failing which their demat accounts and folios will be frozen, and they will not be able to redeem their investments.
This mandate applies to both new as well as existing investors, according to the Securities and Exchange Board of India (Sebi).
The move is aimed at helping investors to secure their assets and pass them on to their legal heirs.
"This will ensure smooth and hassle-free transfer of securities to the legal heirs of the investors in case of any unfortunate event," Tejas Khoday, co-founder and CEO at FYERS, said.
Under Sebi's rule, new investors must either nominate their securities or formally opt out of nomination through a declaration form when opening trading and demat accounts.
For existing investors, including jointly-held mutual fund folios, failing to meet this deadline will result in the freezin
M-cap of 8 of 10 firms lose Rs 2.28 trn; HDFC, Reliance biggest laggards (24-09-2023)
The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities.
Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.
Equity markets were closed on Tuesday on account of Ganesh Chaturthi.
From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.
The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week.
The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week.
ICICI Bank's valuation dropped Rs 29,41
Updater Services raises Rs 288 cr from anchor investors ahead of IPO (23-09-2023)
Integrated facilities management company Updater Services Ltd on Friday said it has raised Rs 288 crore from anchor investors days before the launch of its initial public offering (IPO).
The firm has allotted 96 lakh equity shares to 18 funds at Rs 300 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website late Friday night.
Among the anchor investors that participated in the bidding are Nomura Singapore, Citigroup Global Markets Mauritius Pvt Ltd, BNP Paribas Arbitrage, Societe Generale, ICICI Prudential Mutual Fund (MF), Bandhan MF and Aditya Birla Sun Life Insurance Company.
The initial share sale, with a price band of Rs 280-300 per share, will be open for public subscription during September 25-27.
The Rs 640-crore IPO will comprise a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer for Sale (OFS) of up to 80 lakh equity shares by a promoter and existing shareholders.
Under the OFS, Tangi Facility ...
Inspire Films to launch IPO during Sept 25-27, plans to raise Rs 21.20 cr (23-09-2023)
Inspire Films Ltd, a television content company, will launch an initial public offering (IPO) to raise Rs 21.22 crore.
The IPO, which will open for subscription during September 25-27, comprises 35.98 lakh shares for Rs 59 a piece with a face value of Rs 10 each, said a statement from the company.
A total of 10.24 lakh shares will be allotted to anchor investors and 6.82 lakh shares are reserved for Qualified Institutional Buyers (QIBs). While 5.14 lakh shares are reserved for high net-worth individuals (HNIs), 11.98 lakh shares are meant for retail investors and 1.80 lakh shares for market makers.
"Following the IPO, the company's shares will be listed on the NSE Emerge platform on October 9, 2023," it added.
The proceeds of the IPO will help Inspire Films to cater to the company's working capital requirements, and general corporate purposes facilitating strategic growth and development and covering the expenses.
"With our IPO we will be able to expand our business further and cr
Nomura India buys Cholamandalam Financial shares worth Rs 166-crore (22-09-2023)
Nomura India Investment Fund Mother Fund on Friday bought shares of Cholamandalam Financial Holdings Ltd worth Rs 166 crore through an open market transaction.
According to the bulk deal data available with BSE, Nomura India Investment Fund Mother Fund purchased 14,51,000 shares of Cholamandalam Financial Holdings.
The shares were acquired at an average price of Rs 1,145.30 apiece, taking the transaction size to Rs 166.18 crore.
Meanwhile, promoter of Cholamandalam Financial Holdings Ambadi Enterprises Ltd offloaded 10.58 lakh shares at an average price of Rs 1,151.02.
This took the deal value to Rs 121.80 crore.
Shares of Cholamandalam Financial Holdings fell 0.97 per cent to close at Rs 1,191.75 apiece on BSE.
India to enter JP Morgan’s EM bond index; set for $20 billion inflow (22-09-2023)
While there was a demand for tax exemption, the government has not offered any sops to foreign investors for the index inclusion
Sensex posts steepest weekly fall in 15 months, ends 221 points lower (22-09-2023)
30-share index loses 2.7% in 4 days, barely holds 66K
Inclusion in JP Morgan’s Bond index to aid BOP improvement: Economists (22-09-2023)
India's can manage address oil price hike better
Bonds settle lower after initial euphoria on JPMorgan’s index inclusion (22-09-2023)
The yield on the benchmark 10-year bond settled at 7.19 per cent, against 7.16 per cent on Thursday