Posts in category Business Standard
Markets kickoff Samvat 2080 on bullish note; Sensex, Nifty gain over 0.5% (12-11-2023)
Six straight year of gains on muhurat trading day
CSE hopes on resuming operations in March-April 2024 as 3rd equity exchange (12-11-2023)
Buoyed by positive indications from the market regulator, the Calcutta Stock Exchange (CSE) hopes on making a comeback as the third equity exchange of the country by March-April 2024, a senior official said on Sunday.
The Securities and Exchange Board of India (SEBI) barred the CSE from trading on its platform in April 2013 due to regulatory and compliance issues.
"We will come back as the third equity bourse of the country soon. There is positive feedback. We have to adhere to some measures, which will be done by January," CSE chief general manager Dhiraj Chakraborty told PTI.
"We hope to resume as an independent exchange again by March-April with new technology, which will be the best in the industry," he said.
Currently, the CSE is surviving by providing its members with facilities to trade on the NSE platform.
"With the approval of SEBI and subject to the decision of the Calcutta High Court, CSE expects to resume its trading and settlement functions on its own platform in the
BSE shares soar 8%, hit record high on 4x jump in Q2 profit (12-11-2023)
The board of directors of BSE has approved the fund infusion of Rs 22.36 crores in India India INX and Rs 33.88 crore in India International Exchange (IFSC)
Biocon jumps 4% on the back of strong Q2 performance (12-11-2023)
The stock had shed 16 per cent in Samvat 2079. So far in 2023, the stock has declined 9 per cent as against a near 7 per cent gain on the BSE benchmark.
ONGC hits life-time high; up 2% after posting 142% surge in Q2 net profit (12-11-2023)
The stock had surged 47 per cent in Samvat 2079. So far in the calendar year 2080, the stock has rallied 41 per cent as against a near 7 per cent gain on the BSE Sensex.
Muhurat Trading 2023: Sensex gains 355 pts on 1st session of Samvat 2080 (12-11-2023)
Muhurat Trading on Diwali, November 12, 2023: Sensex, Nifty clock their second-best Muhurat trading gains in five years. Besides, it was their third-best Muhurat trading gain in 15 years
M-cap of 4 of top-10 firms decline by Rs 23,417 cr; TCS biggest laggard (12-11-2023)
The combined market valuation of four of the top-10 most valued firms fell by Rs 23,417.15 crore last week, with IT majors Infosys and Tata Consultancy Services (TCS) taking the biggest hit.
Last week, the BSE benchmark advanced 540.9 points or 0.84 per cent.
While Reliance Industries Ltd, TCS, Hindustan Unilever Ltd and Infosys faced erosion from their market capitalisation (mcap), HDFC Bank, ICICI Bank, ITC, Bharti Airtel, State Bank of India and Bajaj Finance witnessed a combined addition of Rs 17,386.45 crore.
The market valuation of Infosys fell by Rs 8,465.09 crore to Rs 5,68,064.77 crore, the most among the top-10 firms.
The mcap of TCS declined by Rs 6,604.59 crore to Rs 12,19,488.64 crore.
Hindustan Unilever's mcap diminished by Rs 5,133.85 crore to Rs 5,84,284.61 crore and that of Reliance Industries dipped by Rs 3,213.62 crore to Rs 15,65,781.62 crore.
However, the valuation of HDFC Bank jumped Rs 5,236.31 crore to Rs 11,31,079.20 crore.
ICICI Bank added Rs 3,520.92 c
FPIs selling spree continues; pull out Rs 5,800 cr from equities in Nov (12-11-2023)
Foreign Portfolio Investors (FPIs) selling spree continued as they dumped Indian equity worth over Rs 5,800 crore this month so far on rising interest rates and geopolitical tensions in the Middle East.
This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed.
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Going forward, this selling trend is unlikely to continue as the US Federal Reserve signalled a dovish stance in its meeting last week, experts said.
According to the data with the depositories, FPIs sold shares to the tune of Rs 5,805 crore during November 1-10.
The FPI selling trend which started in September continued in October and is showing no signs of reversing in November even though the intensity of selling has come down this month.
This could be largely attributed to the growing
Realtor Anant Raj plans to raise Rs 500 cr through issue of securities (11-11-2023)
Realty firm Anant Raj Ltd on Saturday announced plans to raise up to Rs 500 crore through issue of securities to institutional investors.
The company will seek shareholders' approval through a special resolution. It
did not disclose the objective of the fund raising.
In a regulatory filing, Anant Raj Ltd said the board of directors has inter-alia considered and approved "issuance of equity shares or other convertible securities by way of Qualified Institutions Placement (QIP), for an aggregate consideration not exceeding Rs 500 crore."
The board also approved the notice of Extraordinary General Meeting (EGM) for seeking approval of shareholders by way of special resolution for approval for issuance of the securities.
Recently, Anant Raj announced plans to launch three new housing projects in Gurugram and Andhra Pradesh in the next 6-9 months with an estimated sales value of Rs 4,000 crore, as it seeks to expand business amid strong demand for residential properties.
Anant Raj Ltd
BSE Q2 net profit jumps to Rs 118 crore, revenue at record Rs 367 crore (11-11-2023)
Leading stock exchange BSE has reported a four-fold jump in net profit at Rs 118.4 crore for the quarter ended in September 2023.
In comparison, the exchange had posted a net profit of Rs 29.4 crore in the year-ago period, BSE said in a statement.
The bourse's revenue rose 53 per cent to a record Rs 367 crore in the July-September quarter of the current financial year (FY24), from Rs 240 crore in the year-ago period.
"We shall continue to invest in development of human resources, new products, technology infrastructure, etc, and thus pursue long-term growth shareholders and deliver on our mission of Vibrant BSE 2025," the exchange's MD & CEO, Sundararaman Ramamurthy, said.
The exchange's average daily turnover in the equity segment increased to Rs 5,922 crore in the quarter under review, from Rs 4,740 crore in three months ended September 2022.
Also, the board of directors of BSE in their meeting on Friday have approved the fund infusion of Rs 22.36 crores in India International .