Posts in category Business Standard
Nifty50 scales fresh peak on GDP boost; Sensex ends 493 points higher (01-12-2023)
Benchmark indices log the best week in 5 months
BSE-listed firms’ market valuation touch record high of Rs 337.67 trillion (01-12-2023)
The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 337.67 lakh crore (USD 4 trillion) on Friday amid a rally in equities, mainly on account of favourable macroeconomic data and continuous foreign fund inflows.
Rising for the fourth straight day, the 30-share BSE Sensex jumped 492.75 points or 0.74 per cent to settle at 67,481.19 points. During the day, it rallied 575.89 points or 0.85 per cent to 67,564.33 points.
In four days, the benchmark index has surged 1,511.15 points or 2.29 per cent.
Amid the optimistic trend in equities, the market capitalisation of BSE-listed firms soared to Rs 337.67 lakh crore, translating to USD 4 trillion at the exchange rate of 83.30.
In four days of the market rally, investors' wealth have gone up by Rs 8.95 lakh crore.
The combined market valuation of all listed companies on the BSE reached the USD 4 trillion-milestone for the first time ever on Wednesday.
The 30-share benchmark hit its all-time peak of 67,927.2
Satyam Computer case: Sebi lowers disgorgement amount to Rs 622 crore (01-12-2023)
In February, the Securities Appellate Tribunal (SAT) had remanded the matter back to Sebi, directing it to recalculate the unlawful gains and reconsider the ban on the promoters
Megastar Foods plans to raise Rs 42 cr through preferential issue of shares (01-12-2023)
Food processing firm Megastar Foods Ltd plans to raise Rs 42.38 crore through the issue of preferential shares to pre-pay debt and meet future requirements of funds.
The company's board approved to create, issue, offer and allot up to 13 lakh shares of Rs 10 each on a preferential basis to the promoters/non-promoters/public category shareholders of the company, according to a regulatory filing on Thursday.
The company would seek the approval of the shareholders at the extra ordinary general meeting.
"The proceeds of the preferential issue will be utilised for prepayment of borrowings of the company, meeting future funding requirements, working capital and other general corporate purposes of the company," the filing said.
The equity shares under this preferential issue would be made at an issue price of Rs 326 per equity share. The company intends to raise Rs 42.38 crore through this issue. Megastar Foods has a wheat processing plant in Punjab. Its turnover stood at Rs 304.40 crore
BOJ survey highlights strong bond market strains from ultra-easy policy (01-12-2023)
Former Governor Haruhiko Kuroda deployed QQE in April 2013, aiming to shock the public out of a deflationary mindset with heavy money printing, and fire up inflation to the bank's 2% target
IIFL Samasta to raise Rs 1,000 cr via bonds, offers 10.50% return per annum (01-12-2023)
IIFL Samasta Finance on Friday said it plans to raise up to Rs 1,000 crore through its maiden public issue of non convertible debentures (NCDs), for the purpose of business growth and capital augmentation.
The non-banking microfinance companies (NBFC-MFI) will issue bonds, aggregating to Rs 200 crore, with a green shoe option to retain over-subscription of up to Rs 800 crore (aggregating to a total of Rs 1,000 crore).
The bonds, which opens for subscription on Monday, proposes to offer highest coupon rate of 10.50 per cent per annum for tenor of 60 months.
NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly and annual basis for each of the series.
The company caters to the credit needs of underserved and unserved population, primarily women entrepreneurs from underprivileged background through a well-diversified portfolio through a network of 1,500 branches, IIFL Samasta Finance MD and CEO Venkatesh N said.
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Sebi must act in public interest: HC raps body order non-compliance (01-12-2023)
The Securities and Exchange Board of India is required to act in the public interest, the Bombay High Court said on Friday castigating the regulatory body for not complying with an order passed by the court in October.
A division bench of Justices G S Kulkarni and Jitendra Jain said such an approach by the SEBI would cause a dent in the confidence reposed in the public body by investors.
The HC had in October directed the SEBI to provide certain probe documents to the minority shareholders of a company. The company and the SEBI challenged this order in the Supreme Court, which dismissed the appeals in November.
The petitioners are minority shareholders of Bharat Nidhi Limited and had made various complaints to SEBI accusing the company of violation of securities laws.
The SEBI had then initiated investigations into the same, issued a show cause notice to the company and later passed a settlement order, which has now been revoked.
The petitioners' case is that neither the investiga
Nifty hits new all-time high: Here’s a look at stocks that drove the rally (01-12-2023)
Nifty hits fresh record high: Since September 15, automobile and energy linked stocks have outperformed the markets
India home prices to outstrip inflation, driven by high end of market: Poll (01-12-2023)
The survey predicted home prices in large urban centres Mumbai, Delhi and Bengaluru rising 6.0%, 7.0% and 7.0% next year, respectively
Flair Writing makes strong debut, lists at 65% premium over its issue price (01-12-2023)
The stock listed at Rs 503 on the BSE and at Rs 501 on the NSE. The issue price was Rs 304 per share