Posts in category Business Standard
NSE, BSE eye core mkts with new launches as MCX awaits trading platform (08-10-2023)
As MCX manoeuvres the regulatory rigmarole over a new trading platform, its better-known rivals NSE and BSE, despite their relatively minuscule market share, are set to launch a major bid on Monday to enter the areas hitherto dominated by the country's largest commodity exchange.
MCX (Multi Commodity Exchange of India Ltd) has been under the spotlight for a long time with regard to its transition to a new commodity trading platform from the one developed by its erstwhile promoter Financial Technologies India Ltd, now known as 63 Moons, that it has contracted to use till the year-end after repeated extensions.
MCX announced last month that it will go live with the new platform developed by TCS from October 3, the implementation was put on hold soon after by the capital market regulator Sebi due to "technical issues" and in the wake of some pending legal matters.
While the exchange has been holding mock trading sessions for the new software for quite a long time and will continue on .
MCX gets Sebi approval to launch new commodity derivatives platform (08-10-2023)
MCX had initially intended to introduce the CDP on October 3. However, they have not revealed the new launch date yet
FPIs sell-off continues; take out Rs 8,000 car from equities in October (08-10-2023)
Foreign Portfolio investors (FPIs) have dumped Indian equities worth Rs 8,000 crore in the first week of October on the back of dollar appreciation and the steady rise in the US bond yields.
This came after FPIs turned net sellers in September and pulled out Rs 14,767 crore. 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 ahead, FPIs are unlikely to turn buyers in the market soon in the context of the elevated dollar and US bond yields, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
According to the data with the depositories, Foreign Portfolio Investors (FPIs) sold shares to the tune of Rs 8,000 crore in this month (till October 6).
India continues to be on top of emerging economies in attracting FPI this year, but September witnessed selling and October has begun with the same trend.
"The dominant factor impacting capital flows
M-cap of 5 of 10 most valued cos jumps Rs 86,234.73 cr; TCS biggest gainer (08-10-2023)
The combined market valuation of five of the top-10 most valued firms jumped Rs 86,234.73 crore in a holiday-shortened last week, with Tata Consultancy Services (TCS) emerging as the biggest gainer.
While TCS, HDFC Bank, Infosys, Hindustan Unilever and Bajaj Finance were the gainers, Reliance Industries, ICICI Bank, ITC, State Bank of India and Bharti Airtel emerged as the laggards.
Last week, the BSE benchmark climbed 167.22 points or 0.25 per cent.
The market valuation of TCS rallied Rs 32,730.22 crore to Rs 13,24,649.78 crore, the most among the top-10 firms.
Bajaj Finance added Rs 21,697.96 crore taking its valuation to Rs 4,94,884.37 crore.
The valuation of Infosys jumped Rs 18,057.94 crore to Rs 6,13,655.04 crore and that of Hindustan Unilever climbed Rs 7,730.16 crore to Rs 5,87,104.12 crore.
The market capitalisation (mcap) of HDFC Bank gained Rs 6,018.45 crore to Rs 11,63,164.31 crore.
However, the valuation of Reliance Industries declined Rs 19,336.49 crore to Rs ...
BSE to launch options on WTI crude oil, Brent crude oil futures on Oct 9 (06-10-2023)
Leading stock exchange BSE on Friday said it will launch options contracts on underlying WTI crude oil and Brent crude oil futures from October 9.
In addition, the exchange will introduce Futures contracts on base metals such as copper, zinc, aluminium.
These commodity contracts will provide market participants, particularly corporates, value chain participants and foreign portfolio investors, an efficient way to manage their commodity price risk against volatility, BSE said in a statement.
Earlier, the stock exchange introduced Brent crude oil futures contracts in the commodity derivatives segment.
Earlier in the day, the National Stock Exchange (NSE) announced that it will launch options contracts on underlying WTI crude oil and natural gas futures in the commodity derivatives segment from October 9.
Separately, BSE said that Investor Risk Reduction Access (IRRA) has been made accessible to trading members across exchanges from October 3.
The platform will help investors in cas
Markets gain for a second day as RBI maintains status quo on policy rates (06-10-2023)
Tech and finance take the lead
Market regulator Sebi sets deposit norms for execution-only platforms (06-10-2023)
Entities already registered with the stock exchange under any of the segments will not have to pay the deposit again
Sebi extends dispatching period of hard copies of statements till Sept 2024 (06-10-2023)
Capital markets regulator Sebi on Friday extended the relaxation to entities with listed non-convertible securities from dispatching physical copies of the financial statements to the holders of such securities till September 30, 2024.
Earlier, the regulator had given similar relaxations to such entities till September 2023.
Sebi's extension comes after the Ministry of Corporate Affairs last month provided similar relaxations to entities from dispatching physical copies of financial statements, including board's report, auditor's report or other documents.
"Consequently, it has been decided to relax, up to September 30, 2024, the requirements of regulation 58 (1)(b) of the Sebi Listing Regulations," according to the circular issued by the markets regulator on Friday.
Under the regulation 58 (1)(b) of the Sebi Listing Regulations, an entity with listed non-convertible securities will have to send a hard copy of statement containing the salient features of all the documents to those
Sebi asks brokers functioning in EOP to maintain minimum capital deposit (06-10-2023)
Capital markets regulator Sebi on Friday asked stock brokers functioning only in the Execution Only Platforms (EOP) segment to maintain a sum of Rs 10 lakh with the bourse as a base minimum capital deposit.
The EOP is a digital or online platform which allows transactions in direct plans of mutual funds without the help of distributors.
Under the rule, an entity desirous of providing execution-only services in direct plans of mutual funds can obtain registration under either of the two categories -- category 1 EOP as an agent of asset management companies registered with industry body Association of Mutual Funds in India (AMFI) or category 2 EOP as an agent of investor, registered as a stock broker.
"It has been decided that the members of stock exchanges functioning only in EOP segment (Category 2 EOP) shall maintain a sum of Rs 10 lakh with the stock exchange as BMC (base minimum capital) deposit," the regulator said in a circular.
However, for members having registration of more
SRM Contractors files draft papers with Sebi to mop-up funds via IPO (06-10-2023)
SRM Contractors Ltd has filed preliminary papers with capital markets regulator Sebi to mobilise funds through an Initial Public Offering (IPO).
The maiden public issue is entirely a fresh issue of 62 lakh equity shares, according to the Draft Red Herring Prospectus (DRHP).
Proceeds of the issue will be used to purchase machinery, support working capital requirements, invest in joint venture projects, pay debt and for general corporate purposes.
SRM Contractors is an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation works and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh.
Interactive Financial Services Ltd is the sole book running lead manager to the issue.