Posts in category Business Standard
Gold, silver prices unchanged; yellow metal trading at Rs 62,350 per 10g (11-12-2023)
The price of 22-carat gold remained stable, with the yellow metal selling at Rs 57,150.
Sebi likely to allow non-convertible debentures with lower face value (10-12-2023)
Further, these issuances will only be interest or dividend-bearing instruments with a simple structure
M-cap of 7 most valued cos add Rs 3.04 trn; HDFC Bank, LIC biggest gainers (10-12-2023)
The combined market valuation of seven of the 10 most valued firms climbed Rs 3,04,477.25 crore last week, with HDFC Bank and LIC emerging as the biggest gainers amid an overall optimistic trend in equities.
Last week, the BSE benchmark rallied 2,344.41 points or 3.47 per cent. On Friday, the 30-share BSE Sensex rose 303.91 points, or 0.44 per cent, to hit its new peak of 69,825.60. The index touched the highest intra-day level of 69,893.80.
HDFC Bank, Life Insurance Corporation of India (LIC), ICICI Bank, Tata Consultancy Services, and Reliance Industries were among the companies that recorded additions in their market valuation.
HDFC Bank's valuation soared by Rs 74,076.15 crore to Rs 12,54,664.74 crore.
The market capitalisation (mcap) of Life Insurance Corporation of India jumped by Rs 65,558.6 crore to Rs 4,89,428.32 crore at close on Friday. LIC had reclaimed the Rs 5 lakh crore-mark after the shares of the company hit a 52-week high on the bourse on Thursday.
However, at cl
FPIs invest Rs 26,505 cr in equities in first six sessions of December (10-12-2023)
Foreign portfolio investors (FPIs) injected Rs 26,505 crore into the Indian equity markets in the first six trading sessions of this month on expectations of political stability after the BJP stormed to power in three major states and robust economic growth.
This came following a net investment of Rs 9,000 crore in October. Before this, overseas investors withdrew 39,300 crore in August and September, data with the depositories showed.
Going forward, FPI inflows are likely to continue, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data, FPIs made a net investment of Rs 26,505 crore in Indian equities in this month (till December 8).
Kislay Upadhyay, the founder of FidelFolio Investments, attributed the FPI inflows to the outcome of major state elections that signalled political stability going forward..
"The indication of political stability after the 2024 General elections, strong growth momentum in the Indian economy, inflation
Sebi to frame rules for REITs, InvITs issuing subordinate units to sponsors (09-12-2023)
Capital markets regulator Sebi is looking to come out with a framework for the issuance of subordinate units by REITs and InvITs to sponsors and their associates.
Additionally, the regulator has proposed a framework for unit-based employee benefits (UBEB) in the context of REITs (real estate investment trusts) and InvITs (infrastructure investment trusts).
The Securities and Exchange Board of India (Sebi) has sought comments from the public till December 29 on the proposals.
Under the proposed framework, subordinate units can be issued only to the sponsor, its associates and sponsor group, such units should carry only inferior voting as compared to ordinary units and the units can be issued to the eligible entities in the initial offer or in any offering subsequent to the initial offer, Sebi said in its consultation paper.
It further suggested that subordinate units can only be transferred inter-se amongst the sponsor entities. "Any issuance of subordinate units post initial offer
Gold price climbs Rs 170 to 62,950, silver unchanged at Rs 77,200 (09-12-2023)
The price of 22-carat gold rose Rs 150, with the yellow metal selling at Rs 57,700
Govt to issue sovereign gold bonds tranche in December and February (08-12-2023)
The government will issue a tranche of sovereign gold bonds (SGBs) this month, and one more in February.
The date for subscription for 2023-24 Series III is December 18-22, 2023, while for Series IV is scheduled for February 12-16, a finance ministry statement said Friday.
The Series I was open for subscription during June 19-23 and Series II during September 11-15.
The SGBs will be sold through scheduled commercial banks (except small finance banks, payment banks and regional rural banks), Stock Holding Corporation of India Limited (SHCIL), Clearing Corporation of India Limited (CCIL), designated post offices, National Stock Exchange of India Limited and Bombay Stock Exchange Limited.
Price of SGB will be fixed in Indian rupees on the basis of simple average of closing price of gold of 999 purity, published by the India Bullion and Jewellers Association Limited (IBJA) for the last three working days of the week preceding the subscription period.
The issue price of the SGBs will b
Sebi to focus on sachetising SIPs by making Rs 250 bets viable: Buch (08-12-2023)
Sebi chairperson Madhabi Puri Buch on Friday said the capital markets regulator wishes to sachetise mutual fund investments going forward.
Speaking at an event hosted by Business Today here, Buch said the mutual fund industry feels investments of Rs 500 per month in a systematic investment plan are viable, but Rs 250 are not and the focus will be to try to look at ways of making such investments rewarding.
"We are working with them (MF industry) to see where is the cost, what can Sebi do to facilitate making it possible to bring that viability down to Rs 250 a month, because then it is the equivalent of what Hindustan Lever did with shampoo sachets. You just explode the market," Buch said.
The comments come on a day the MF industry reported its highest-ever monthly investments through SIPs at over Rs 17,000 crore for November. It also comes amid expectations of an aggressive entry by the Reliance Group entity Jio Financial Services into the MF space.
Buch said such sachetisation wi
SoftBank offloads 1.1% Zomato stake; PGIM MF recovers Rs 17 crore (08-12-2023)
Three private equity firms on Friday offloaded 7.76 per cent stake in Five-Star Business Finance, a micro-loan provider
The journey of Nifty: From 11000 to 21000 in a span of six years (08-12-2023)
Following the sharp rise in the markets, most positives have been priced in, say experts