Posts in category Business Standard
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
Sai Silks Rs 1,201-crore IPO subscribed 4.40 times on last day of bidding (22-09-2023)
The Initial Public Offering (IPO) of ethnic apparel retailer Sai Silks (Kalamandir) was subscribed 4.40 times on the last day of bidding on Friday.
The Rs 1,201 crore-initial share sale received bids for 16,94,58,544 shares against 3,84,86,309 shares on offer, according to data available with the NSE.
The quota for Qualified Institutional Buyers (QIBs) received 12.35 times subscription while the quota for non-institutional investors was subscribed 2.47 times. The category for Retail Individual Investors (RIIs) was subscribed 88 per cent.
The public issue had a fresh issue of up to Rs 600 crore and an offer for sale of up to 2.70 crore equity shares.
Price range for the offer was Rs 210-222 a share.
The IPO of Sai Silks (Kalamandir) was subscribed 33 per cent on the second day of offer on Thursday.
On Monday, Sai Silks said it has raised over Rs 360 crore from anchor investors.
The Hyderabad-based company was founded by Prasad Chalavadi, a techie turned entrepreneur in 2005.
It
BSE to discontinue stop loss market orders from Oct 9 to check freak trades (22-09-2023)
Leading stock exchange BSE has decided to discontinue Stop Loss Market (SL-M) orders from October 9 to prevent erroneous order placement arising out of manual or algo trades.
This came after a recent freak trade incident caused a lot of angst among the trading community earlier this month due to an SL-M order.
SL-M is a type of order that automatically sells or buys a security at the market price when the trigger price is reached.
"As a measure to prevent erroneous order placement, stop loss orders with market condition in equity segment, equity derivatives segment, currency derivatives segment, and commodity derivatives segment shall be discontinued by the exchange with effect from October 9," BSE said in a notice.
Welcoming the decision, Narendra Solanki, Head, Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers, said it is a good step to prevent erroneous orders and should prove beneficial to small and retail traders as such freak trades harm and cre
Analysts see $25 bn inflow on Indian G-Secs’ inclusion into JP Morgan index (22-09-2023)
Analysts expect the Wall Street major JP Morgan's decision to include the Indian government bonds in its global index from June next year will lead to a direct inflow of USD 20-25 billion in the country's debt market over 18-21 months.
JP Morgan, announcing the inclusion earlier in the day, said India will have a maximum weight of 10 per cent in the index eventually and around 8.7 per cent in the emerging market global index.
JP Morgan said in a statement on Friday that 73 per cent of investors are in favour the decision. The inclusion will be staggered over a 10-month period from June 28, 2024 to March 31, 2025.
"We estimate this implies direct inflows of USD 20-25 billion over the course of the next 18-21 months, but some front-loading of inflows cannot be discounted," Rahul Bajoria, managing director and head of emerging market Asia (ex-China) at Barclays, said in a note on Friday.
Japanese brokerage Nomura has pegged the inflows at USD 23.6 billion, which is 10 per cent of the
Crypto wrap: Market flat as US Fed’s comments keep investors cautious (22-09-2023)
US Federal Reserve's this week comments suggested that the interest rates may remain high for some time to come
Sebi empanels 34 entities for forensic investigation of MFs, AMCs, trustees (22-09-2023)
Sebi has empanelled 34 entities, including Ernst & Young LLP, Deloitte Touche Tohmatsu India LLP and Grant Thornton Bharat LLP to conduct forensic investigation of mutual funds, their asset management companies (AMCs) and trustees.
KPMG Assurance and Consulting Services LLP, Chokshi & Chokshi LLP, Nangia & Co LLP and Pipara & Co LLP are among the other empanelled entities, the Securities and Exchange Board of India (Sebi) said in a latest update.
The period of empanelment is from September 20, 2023 to September 19, 2026, it added.
These 34 entities have been empanelled after evaluation of all the applications in response to Expression of Interest (EoI) invited by the capital markets regulator in February.
The entities are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and USB drives. Also, they need to prepare and submit a report mentioning the findings and conclusions of the analysis.
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SAMHI Hotels gains 14% on stock market debut; Zaggle Prepaid slips 3.5% (22-09-2023)
Samhi Hotels raised Rs 1,200 crore by issuing fresh shares in the IPO
Hudco hits over 5-yr high; stock zooms 95% since April on positive outlook (22-09-2023)
The future outlook in terms of Government's sectoral focus and related developments have positive implications for Hudco's medium-term and long-term strategies
Bond flows may hit $50 bn if other indexes follow: ICICI bank official (22-09-2023)
Earlier in the day, JPMorgan said it would include India in its global emerging market bond indices over 10 months starting June 2024, triggering close to $24 billion in flows.