Posts in category Business Standard
BSE changes Jio Financial Services stock price band to 20% from 5% (03-09-2023)
Leading stock exchange BSE has revised the circuit limit of Jio Financial Services, the demerged non-banking financial services unit of Mukesh Ambani-led Reliance group, to 20 per cent from the existing 5 per cent.
The new limits will be effective from Monday, September 4, according to a notification issued by BSE.
The move would ensure stock prices do not fluctuate beyond a prescribed level during a session.
Further, market experts believe that the stock will be out of the trade-to-trade segment next week.
Apart from Jio Financial, the price band for nine companies, including RailTel and India Pesticides, has been revised to 10 per cent.
A circuit filter mechanism is used by BSE to keep in check excessive volatility in a scrip. It is the maximum fluctuation that is allowed in a stock in a day.
Additionally, the stock of Jio Financial was removed from all the BSE Indices, including the benchmark Sensex, on September 1.
Shares of Jio Financial got listed on the stock exchanges on
Mcap of seven of top 10 firms falls Rs 62,279 cr; Reliance biggest laggard (03-09-2023)
The combined market valuation of seven of the top 10 valued firms eroded by Rs 62,279.74 crore last week, with Reliance Industries taking the biggest hit.
While Reliance Industries, Tata Consultancy Services (TCS), ICICI Bank, Hindustan Unilever, ITC, State Bank of India and Bharti Airtel were the laggards from the top 10 pack, HDFC Bank, Infosys and Bajaj Finance were the gainers.
The market valuation of Reliance Industries fell by Rs 38,495.79 crore to Rs 16,32,577.99 crore.
Hindustan Unilever's valuation tumbled Rs 14,649.7 crore to Rs 5,88,572.61 crore and that of Bharti Airtel declined by Rs 4,194.49 crore to Rs 4,84,267.42 crore.
The market capitalisation (mcap) of ITC went lower by Rs 3,037.83 crore to Rs 5,50,214.07 crore and that of ICICI Bank dipped Rs 898.8 crore to Rs 6,78,368.37 crore.
The mcap of TCS diminished by Rs 512.27 crore to Rs 12,36,466.64 crore and that of State Bank of India dropped by Rs 490.86 crore to Rs 5,08,435.14 crore.
However, the valuation of HDF
Oil industry elite hits Singapore to debate over crude’s next twist (03-09-2023)
Producers, hedge funds, analysts and traders will all converge on the Southeast Asian city-state for this year's Asia Pacific Petroleum Conference, organized by S&P Global Commodity Insights
Rice prices in Asia hit 15-yr high after India’s 6-week campaign of curbs (03-09-2023)
Rice is vital to the diets of billions and contributes as much as 60% of the total calorie intake for people in parts of Southeast Asia and Africa
Gold prices fell by Rs 110, silver down by Rs 500, trades at Rs 77,100/1 kg (02-09-2023)
The price of 22-carat gold fell by Rs 100, with the yellow metal selling at Rs 55,050
Rishabh Instruments IPO subscribed 31.65 times on last day of bidding (01-09-2023)
The Initial Public Offering (IPO) of global energy efficiency solution company Rishabh Instruments was subscribed 31.65 times driven by heavy demand from institutional buyers on the last day of bidding on Friday.
The IPO received bids for 24,65,71,162 shares against 77,90,202 on offer, as per the NSE data.
The category for Qualified Institutional Buyers (QIBs) received a whopping 72.54 times subscription, while the quota for non-institutional investors got subscribed 31.29 times and Retail Individual Investors (RIIs) 8.44 times.
The IPO comprises a fresh issue of equity shares aggregating up to Rs 75 crore and an Offer For Sale (OFS) of up to 94.3 lakh equity shares by its promoter group shareholders and an existing investor.
The company has fixed a price band for the IPO at Rs 418-441 per share.
On Tuesday, the company said it raised Rs 147.23 crore from anchor investors.
Proceeds from the issue worth Rs 59.50 crore will be used towards financing the expansion of its manufacturi
Amarjeet Singh now Sebi’s whole-time member, to handle various departments (01-09-2023)
Capital markets regulator Sebi on Friday said that Amarjeet Singh has taken charge as its whole-time member.
Singh, who was the executive director at the Securities and Exchange Board of India (Sebi), will handle various departments, including investment management, market intermediaries' regulation and supervision, office of international affairs, investigations, and human resources, the regulator said in a statement.
Singh, who has worked with Sebi for nearly three decades, has wide experience in the regulation and supervision of securities markets.
He has headed the market regulation, corporation finance departments, office of chairman, and the office of international affairs.
Singh has led Sebi's engagements on sustainability reporting.
He was instrumental in bringing about various primary market reforms, including the reduction of lock-in period of minimum promoter holding in public issues, introduction of UPI as a payment mechanism in IPOs, revamping of rights issue process
Broader market party continues, BSE ups buyback price, shares gain (01-09-2023)
BSE has increased the acquisition price for its proposed Rs 375-crore buyback from Rs 816 per share to Rs 1,080 per share
Rupee settles off-highs as oil companies buy dollars in domestic market (01-09-2023)
However, the rupee gave up early gains as oil companies bought dollars in the domestic market after Brent crude oil rose to $87 per barrel in international markets
Strong demand at govt bond auction fails to lift secondary market (01-09-2023)
The Reserve Bank of India set the cut-off yield on the 3-year, 7-year, 14-year, and 30-year bond at 7.16 per cent, 7.17 per cent, 7.23 per cent, and 7.33 per cent, respectively