HDFC Mutual Fund on Thursday bought shares of global digital engineering and technology company Cyient Ltd for Rs 204 crore through an open market transaction.
According to the bulk deal data available with the BSE, HDFC Mutual Fund purchased 11.33 lakh shares, amounting to a 1.02 per cent stake in Cyient.
The shares were picked up at an average price of Rs 1,800 apiece, taking the deal size to Rs 204.10 crore.
After the stake buy, HDFC Mutual Fund’s shareholding in Cyient has increased to 2.1 per cent from 1.08 per cent.
The details of the sellers could not be ascertained.
On Thursday, shares of Cyient fell 0.67 per cent to close at Rs 1,794.30 apiece on the BSE.
In a separate transaction on the NSE, Ventureast divested a 1.8 per cent stake in fintech player Zaggle Prepaid Ocean Services for Rs 67 crore through an open market transaction.
Bengaluru-based Ventureast through its affiliate Ventureast Proactive Fund LLC offloaded 22.27 lakh shares, amounting to a 1.8 per cent stake
Posts in category Business Standard
HDFC Mutual Fund buys 1.13 million Cyient shares for Rs 204 crore (02-05-2024)
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Sebi introduces draft for stock exchanges to supervise research analysts (02-05-2024)
Markets regulator Sebi on Thursday came out with a framework for administration and supervision of research analysts and investment advisers, whereby a stock exchange can be authorised to oversee and manage such entities.
In a circular, Sebi said a stock exchange should be granted recognition as RAASB (Research Analyst Administration and Supervisory Body) and IAASB (Investment Adviser Administration and Supervisory Body).
“To begin with, in order to ensure efficiency in the system and economies of scale, RAASB and IAASB shall be one and the same stock exchange,” it added.
To be recognised as a RAASB and IAASB, a stock exchange must have been operational for at least 15 years, possess a net worth of at least Rs 200 crore, need to have nationwide terminals and investor service centres in 20 cities and provide a grievance redressal mechanism, including online dispute resolution.
The exchange is required to set up the necessary infrastructure and systems for administration and …
Sebi makes mandatory registration of PMS providers with industry body APMI (02-05-2024)
Markets regulator Sebi on Thursday decided to promote collective oversight of PMS distributors by making registration with the Association of Portfolio Managers in India (APMI) mandatory for them.
The move is aimed at promoting ease of doing business initiatives for portfolio managers.
The new directive would come into effect from January 1, 2025, and APMI would issue the criteria for registration of distributors by July 1, this year, Sebi said in a circular.
“In order to facilitate collective oversight of PMS (Portfolio Manager Services) distributors at the industry level, it has been decided that any person or entity involved in the distribution of portfolio management services shall obtain registration with APMI,” Sebi said.
Portfolio Managers have been asked to ensure that any person or entity engaged in the distribution of its services has obtained registration with APMI, in accordance with the criteria laid down by APMI.
This is in line with the practice already being follow
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Godrej Industries shares fell by 7 per cent to Rs 893 a share, while Godrej property’s share fell by 4.4 percent to Rs 2,532 a share
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The central bank deferred exposure rules implementation until May 3 amid investor concerns
IEX overall trade volume rises 14% to 9,044 million units in April (02-05-2024)
The Indian Energy Exchange (IEX) posted 14.1 per cent growth in its overall trade volume at 9,044 million units in April as compared to the year-ago period.
The exchange achieved 7,928 MU overall trade volume in April 2023, including green market trade of 280 MU, 1.99 lakh RECs (renewable energy certificates equivalent to 199 MU) and 1.23 lakh ESCerts (energy savings certificates equivalent to 123 MU), as per IEX data.
RECs at 618 MU increased 211 per cent YoY (year-on-year). At Rs 204 per certificate, the REC market recorded an all-time low price in the trading session held on April 24, 2024, a statement said.
REC prices declined 80 per cent YoY.
These prices provide an opportunity to obligated consumers to meet their Renewable Purchase Obligations, and voluntary customers to meet their sustainability aspirations.
The Market Clearing Price in Day Ahead Market (DAM) during April 2024 at Rs 5.1/unit reduced approximately 6 per cent year-on-year.
The sell bids on the exchange (Day