Posts in category Business Standard
Singapore’s crypto firm Terraform files for bankruptcy protection in US (22-01-2024)
Singapore-based Terraform labs, in a filing with the bankruptcy court in Delaware, listed assets and liabilities in the range of $100-$500 million
Gold, silver prices unchanged; yellow metal trading at Rs 63,050/10g (22-01-2024)
The price of 22-carat gold remained stable, with the yellow metal selling at Rs 57,800
India’s IPO market one of the busiest in world but it is also broken (22-01-2024)
It's the regulator's job to ensure that companies with reasonably solid prospects come to public markets and offer stock at a price that allows long-term wealth creation
FPIs turn cautious, pull out Rs 13,000 cr from Indian stocks in Jan: Data (21-01-2024)
Foreign investors have adopted a cautious approach this month, offloading domestic equities worth Rs 13,000 crore in the first three weeks owing to high valuations of Indian stocks and surging US bond yields.
In contrast, foreign investors are bullish on the debt market and injected Rs 15,647 crore in the debt market during the period under review, data with the depositories showed.
According to the data, foreign portfolio investors (FPIs) made a net investment of Rs 13,047 crore in Indian equities this month (till January 19).
They pulled out over Rs 24,000 crore from equities during January 17-19. Before this, FPIs made a net investment of Rs 66,134 crore in December and Rs 9,000 crore in November.
"There are two main reasons why FPIs turned sellers. One, the US bond yield started rising with the 10-year yield rising from the recent level of 3.9 per cent to 4.15 per cent triggering capital outflows from emerging markets," V K Vijayakumar, Chief Investment Strategist at Geojit ...
Quarterly earnings, global trends to guide mkts in holiday-shortened week (21-01-2024)
Quarterly earnings, global trends and trading activity of foreign investors will drive stock markets in this holiday-shortened week, analysts said.
It will be a trading holiday on January 22, with the Maharashtra government announcing a holiday in connection with the consecration of the Ram Temple in Ayodhya.
Equity markets would also remain closed on Friday for Republic Day.
"The interest rate decisions of the BoJ (Bank of Japan) and ECB (European Central Bank), along with the US GDP data, are anticipated to drive the market dynamics," said Vinod Nair, Head of Research, Geojit Financial Services.
From the Q3 results front, Axis Bank, JSW Energy, Bajaj Auto, DLF, ACC and JSW Steel would announce their earnings this week.
"This is a truncated trading week following a holiday on Monday and on Friday. Traders should stay light as earnings season would get in full swing leading to stock-specific actions largely. Moreover, interest rate decisions of the BoJ and the ECB is due this week
Mcap of top 5 valued firms erode by Rs 1.67 trn, HDFC Bank biggest laggard (21-01-2024)
The combined market valuation of five of the top 10 valued firms eroded by Rs 1,67,936.21 crore last week, with HDFC Bank emerging as the biggest laggard.
Last week, the 30-share BSE benchmark fell by 1,144.8 points 1.57 per cent. The NSE and BSE conducted normal trading sessions on January 20.
While Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever and State Bank of India faced erosion in their valuation, ICICI Bank, Infosys, Bharti Airtel, Life Insurance Corporation of India (LIC) and ITC were the gainers in the top-10 pack.
The market valuation of HDFC Bank eroded by Rs 1,22,163.07 crore to Rs 11,22,662.76 crore.
Shares of HDFC Bank fell for the third day in a row on Friday, tumbling over 12 per cent, as investors deserted the counter after the company's December quarter earnings failed to impress the market. HDFC Bank shares bounced back on Saturday, climbing 0.54 per cent.
Reliance Industries valuation fell by Rs 18,199.35 crore to Rs ...
Hedge funds bring in record profits betting on ‘catastrophe’ bonds (21-01-2024)
Behind those record returns were bold bets on catastrophe bonds and other insurance-linked securities
Bharti Hexacom files DRHP for IPO, TCIL to sell up to 100 million shares (20-01-2024)
Bharti Hexacom has filed a draft red herring prospectus (DRHP) for a proposed IPO that entails an offer of sale by Telecommunications Consultants India Ltd, according to a regulatory filing.
The IPO will not have any fresh issuance of equity shares and since it is an offer for sale or OFS, Bharti Hexacom will not receive any proceeds from the IPO.
"We wish to inform you that Board of Directors of the company at its meeting held on Friday, January 19, 2024, have approved the IPO of equity shares of face value Rs 5 each comprising of an offer for sale of up to 100000000 (10 crore) equity shares by Telecommunications Consultants India Ltd, subject to such variation as permitted under applicable law," the BSE filing said.
Accordingly, the company filed a draft red herring prospectus on Friday with SEBI, for a proposed IPO for the offer by Telecommunications Consultants India Ltd. The offer represents 20 per cent of the paid-up equity share capital of Bharti Hexacom.
"The IPO shall not
Yet to finalise mechanism for regulating cryptocurrencies: Centre to SC (20-01-2024)
The Centre has told the Supreme Court it is yet to take a decision on a mechanism to regulate cryptocurrencies and effectively investigate related offences.
A bench of justices Surya Kant and KV Viswanathan was told by Additional Solicitor General Vikramjit Banerjee, appearing for the Centre, that the issues related to the digital currency are continuously evolving and the government is deliberating on the mechanism to regulate the cryptocurrencies.
He sought time to file an affidavit by the next date of hearing in the case giving updated position on the mechanism.
"So far as the stance of the Union of India with reference to the matters of cryptocurrency arising in different states is concerned, the Additional Solicitor General of India seeks and is granted four weeks' time to file an appropriate affidavit," the bench ordered on Friday.
During the hearing, Justice Kant said the court only wants that there are appropriate safeguards to protect the common man from frauds and misuse
Ganesh Housing zooms over 50% in 4 days as Q3 net profit jumps three-fold (20-01-2024)
In Q3FY24, Ganesh Housing's profit after tax grew 232 per cent year-on-year to Rs 100.60 crore