Posts in category Business Standard
RBI interest rate decision, global trends to dictate stock mkts: Analysts (04-02-2024)
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts.
The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities.
"On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8. The Q3 quarterly results season will continue to remain in focus. Bharti Airtel, Power Grid, Nestle, Lupin and Tata Power will announce their results this week," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices, Gour said.
Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also be monitored, he added.
"With the US Fed and interim Budget now behind, all eyes w
Northern Arc Capital files IPO papers with Sebi; to raise Rs 500 crore (03-02-2024)
Non-banking financial institution Northern Arc Capital Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale.
The Initial Public Offering (IPO) is a combination of fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of up to 2.1 crore equity shares by investor shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday.
Those offering shares through the OFS include Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Augusta Investments II Pte Ltd, Eight Roads Investments Mauritius II Ltd, Dvara Trust, and IIFL Special Opportunities Fund.
Northern Arc Capital may consider mobilising up to Rs 100 crore in a pre-IPO round.
Proceeds from the fresh issue will be used to meet future capital requirements of the company towards onward lending.
Registered with the RBI, the company is a non-deposit taking non-banking financial company and has
SBI Mutual Fund garners over Rs 900 crore from Nifty50 index fund NFO (03-02-2024)
The largest fund house SBI Mutual Fund has collected over Rs 900 crore through its new fund offer, the AMC said in a statement on Saturday.
The fund house said it has received more than 40,000 applications for the Nifty50 equal weight index fund, which closed on January 29.
The fund house recorded huge collections on the back of significant contributions from all distribution channels and a strong interest from the direct channel, it added.
The new fund is an open-ended scheme replicating or tracking the Nifty50 equal weight index, effectively with relatively lower cost as it is a passive offering.
The investment objective of the scheme is to provide returns that correspond to the total returns of the securities as represented by the underlying index, subject to tracking errors. The fund manager is Viral Chhadva.
BSE, NSE cut daily trading limit on Paytm shares to 10% after market rout (03-02-2024)
The new 10% limits will be applicable from Monday, the Bombay Stock Exchange and the National Stock Exchange said on their websites
Prismx Global Ventures reports consolidated net profit of Rs 1.46 crore in the December 2023 quarter (03-02-2024)
Sales decline 61.55% to Rs 2.73 crore
Arman Financial Services consolidated net profit rises 91.08% in the December 2023 quarter (03-02-2024)
Sales rise 63.78% to Rs 168.76 crore
Grandma Trading & Agencies reports standalone net profit of Rs 0.03 crore in the December 2023 quarter (03-02-2024)
Reported sales nil
Vector Green Prayagraj Solar Pvt reports standalone net loss of Rs 0.09 crore in the December 2023 quarter (03-02-2024)
Sales decline 9.31% to Rs 10.03 crore
WPIL consolidated net profit declines 16.62% in the December 2023 quarter (03-02-2024)
Sales rise 0.56% to Rs 274.33 crore
Mirza International consolidated net profit rises 14.88% in the December 2023 quarter (03-02-2024)
Sales rise 9.09% to Rs 141.67 crore