Posts in category Business Standard
NSE says 7 passive funds tracking Nifty indices launched in Japan, Korea (20-12-2023)
The National Stock Exchange (NSE) on Wednesday said seven passive funds tracking Nifty Indices have been introduced in Japan and Korea this year, suggesting a strong demand from global asset managers for launching such India-focused products.
Of these, six products are tracking Nifty 50 and one product is tracking Nifty50 2x leverage index.
"These new products have garnered Assets under Management (AUM) of about USD 550 million," the National Stock Exchange (NSE) said in a statement.
At present, there are 21 passive funds tracking Nifty Indices outside India. In addition, there are 270 passive funds tracking various Nifty Indices in India.
In the last 10 years, the total AUM of passive funds tracking Nifty Indices in India and outside has increased to about USD 70 billion in November 2023 from about USD 1 billion in November 2013, growing at an annualized rate of 53 per cent.
"We are seeing a strong demand from global asset managers for launching India-focused passive products. Th
SAT quashes Sebi’s order against Biyani, others in insider trading case (20-12-2023)
The Securities Appellate Tribunal (SAT) on Wednesday quashed regulator Sebi's order banning Future Retail chairperson Kishore Biyani and some other promoters from the securities market for one year in an insider trading case.
Dismissing the Sebi's order, the appellate tribunal said that the entities did not trade in the shares of Future Retail Ltd (FRL) on the basis of unpublished price sensitive information (UPSI) relating to demerger as such information was already in public domain through multiple media reports.
"We are satisfied that the information relating to de-merger was already in the public domain and, therefore, trading done by the appellants in the shares after the publication of the interviews and news reports cannot be considered as trading while in possession of UPSI. Thus, the charge in the show cause notice fails and the findings given by the WTM cannot be sustained. The impugned order is quashed," a bench comprising Presiding Officer Tarun Agarwala and Technical ...
Blackstone exits Embassy REIT; sells entire 23.5% stake for Rs 7,100 cr (20-12-2023)
Global fund Blackstone has sold its entire 23.5 per cent stake in Embassy Office Parks REIT for around Rs 7,100 crore through block deal on stock exchanges, sources said.
The company sold its units at around Rs 316 per share, sources said.
Some of the existing unitholders have participated in the block deal. SBI Mutual Fund is a new investor, they added.
Embassy Office Parks REIT is India's first Real Estate Investment Trust (REIT) sponsored by global investment firm Blackstone and Bengaluru-based realty firm Embassy group. It got listed in 2019 after raising around Rs 5,000 crore through public issue.
Last year, Blackstone raised around USD 325 million (about Rs 2,650 crore) by selling its shares in Embassy Office Parks REIT.
Post this deal, Blackstone's stake came down to 24 per cent from around 32 per cent earlier.
Embassy REIT owns and operates a 45.3 million square feet portfolio of nine infrastructure-like office parks and four citycentre office buildings in Bengaluru, Mumb
Nippon Life India AMC surges 8%, hits new high after huge block deal (20-12-2023)
According to reports, IndusInd Bank was seeking to divest 2.86 per cent stake in Nippon AMC
India Shelter Finance makes robust debut; lists 26% higher over issue price (20-12-2023)
The company provides loans for house construction, extension, renovation, and the purchase of new homes or plots. The company also offers loans against property (LAP)
DOMS makes blockbuster debut; lists at 77% premium over issue price (20-12-2023)
DOMS offers well-designed and quality 'stationery and art material' products to consumers
Nifty50 trend bullish; Nocil, GSFC top technical calls for December 20 (20-12-2023)
Nifty continues to remain in a bullish trend and holding longs with trailing stoploss is the ideal strategy, says Vinay Rajani
Nifty IT, Nifty Auto: Charts signal pullback; Check levels to keep on radar (20-12-2023)
As per Ravi Nathani, prevailing indications suggest a higher likelihood of a downward trigger in Nifty Auto given the negative bias in the technical indicators
Stocks to Watch: SpiceJet, Embassy REIT, BPCL, Nippon AMC, DOMS, Varun Bev (20-12-2023)
Stocks to Watch on December 20, 2023: Mumbai-based businessman Harihara Mahapatra and his wife Preeti are likely to invest Rs 1,100 crore in SpiceJet for a 19 per cent stake
Indian equity mkt excelled despite other economies struggling: SA’s Satrix (20-12-2023)
South African investment platform Satrix on Tuesday lauded the Indian equity market for exceptional growth while other emerging economies have been struggling.
It has been four stellar years of growth for the Indian equity market despite a global pandemic and various regional instabilities plaguing other emerging economies during this time, Satrix said in a statement.
One of the company's products is the Satrix MSCI India Exchange Traded Fund (ETF), which holds 131 large and mid-cap Indian companies representing close to 85 per cent of the Indian stock market.
Satrix said this gives investors diversified access to one of the world's fastest-growing emerging market economies.
The ten largest companies in which the ETF is invested are in the Financial and Technology sectors -- Reliance Industries, ICICI Bank, Infosys, HDFC Bank, Tata Consultancy Services, Axis Bank, Bharti Airtel, and Bajaj Finance.
Others in the top ten are industrial giant Larsen and Toubro and consumer goods ...