Posts in category Business Standard
Domestic mutual funds load up Rs 1,000 cr on large private banks in October (13-11-2023)
In October, the benchmark Nifty50 index fell 2.8 per cent, the most since December 2023, while the Nifty Midcap 100 index declined 4.1 per cent, the most since June 2022
6 states, 1 UT raise Rs 12,500 cr at bond auction, 16% more than indicated (13-11-2023)
The union territory of Jammu and Kashmir (J&K) raised Rs 1,100 crore by issuing paper with the longest tenure of 30 years
Federal Bank’s arm Fedfina, Ireda get nod from Sebi to float IPOs (13-11-2023)
Four firms -- Fedbank Financial Services, Indian Renewable Energy Development Agency, EPACK Durable and Suraj Estate Developers -- have received capital markets regulator Sebi's approval to raise funds through initial public offerings (IPO).
These companies, which filed preliminary IPO papers with Sebi between July and September, obtained the watchdog's observation letters between October 30 and November 10, an update with the regulator showed on Monday.
In Sebi's parlance, its observations mean its nod to float the IPO.
Going by the draft papers, the IPO of Fedbank Financial Services Ltd (Fedfina) consists of a fresh issue of equity shares aggregating up to Rs 750 crore and an offer for sale (OFS) of 7.03 crore equity shares by promoter Federal Bank and existing shareholder True North Fund VI LLP.
Under the OFS, Federal Bank will offload 1.65 crore shares, and True North Fund VI LLP will divest 5.38 crore shares.
Fedfina proposes to utilise the net proceeds from the fresh issue .
CP issuances fall to 1-year low in October as rates rise by 30 bps (13-11-2023)
On a month-on-month basis, the issuances fell by around 38 per cent
Sebi asks stock brokers to simplify terms and conditions for investors (13-11-2023)
Investors and clients of the broker will be required to acknowledge these new truncated conditions
Goldman Sachs loads up on Indian markets: Upgrades to ‘overweight’ (13-11-2023)
Brokerage cites strong economic growth prospects, steady domestic mutual fund inflows, and a potential supply-chain shift from China
Markets reverse Muhurat day gains, heavyweights drag down benchmark indices (13-11-2023)
Most global markets traded mixed as traders eyed key events such as talks between the US and China and the release of US inflation data
Gold prices hold steady as investors awaits key US inflation data (13-11-2023)
Core US CPI month-over-month is expected to have risen 0.3% in October, with a year-over-year increase of 4.1%, a poll showed. Both estimated gains are the same as in September
Elections to disrupt India stocks calm in 2024, says Morgan Stanley (13-11-2023)
"A potential change in government could lead to changes in the direction of policy reform and execution leading to poor investment sentiment," Morgan Stanley said
Inflow in mutual fund industry drops to Rs 34,765 crore in Sep quarter (13-11-2023)
The mutual fund industry continued with the positive momentum in the September quarter, attracting Rs 34,765 crore, although it was a massive reduction as against the Rs 1.85 lakh crore inflow in the preceding quarter, primarily due to withdrawal from debt segment.
Most of the asset classes saw net inflows during the July-September period of the current financial year barring the fixed-income or debt segment, which witnessed net outflows.
Overall, flows started on a strong note during the quarter under review, with net inflows of Rs 82,467 crore in July, which dipped to Rs 16,180 crore in August and ended with a disappointing Rs 63,882 crore of net outflows in September, according to a report by Morningstar India.
"Net flows over the last few years over each quarter have been patchy. The flows seen in the June quarter were the highest in four years," it noted.
The assets under management of the industry ended at Rs 46.22 lakh crore as of September, up 5 per cent since the previous