Posts in category Business Standard
KEC International zooms 8% on securing multiple orders worth Rs 1,007 cr (21-08-2023)
Among others, the company secured its first order to construct a Multispeciality Hospital in India, on design-build basis.
Shares of Ambani’s $20 bn Jio Financial Services set to debut in Mumbai (21-08-2023)
Jio Financial, which as yet boasts of little revenue but owns a 6.1% stake in Reliance, has already announced a partnership with BlackRock Inc. to set up an Indian asset management venture
Stocks to Watch: Jio Financial, Titan, Gujarat Gas, Tanla Platforms, KEC (21-08-2023)
Stocks to Watch on August 21, 2023: Jio Financial Services will be listed on the exchanges today. Experts believe the stock could top the Rs 300-mark on listing
Gold, silver prices unchanged, yellow metal trading at Rs 59,020 per 10g (21-08-2023)
The price of 22-carat gold also remained the same, with the yellow metal selling at Rs 54,100.
Stock Market LIVE: Sensex off day’s high, up 250 pts; Nifty tests 19,400 (21-08-2023)
Stock market live updates: The S&P BSE Sensex rallied over 450 points from day's low to a high of 65,314 in intra-day deals on Monday.
Nifty in buy on dips mode; Bank Nifty key support seen at 43,300 (21-08-2023)
According to Ravi Nathani, an independent technical analyst, the the ongoing correction has positioned the Nifty in close proximity to its support levels, at 19,200, 19,150, and 19,080.
HDFC MF pares 2.12% stake in Garden Reach Shipbuilders and Engineers (20-08-2023)
HDFC Mutual Fund (MF) has pared 2.12 per cent stake in Garden Reach Shipbuilders and Engineers (GRSE) between February 28 and August 17, held by its schemes.
The MF, informing the bourses, said it held a 7.4 per cent stake in GRSE as on February 28, and this has come down to 5.28 per cent as on August 17.
HDFC Balanced Advantage Fund is the MF scheme that holds a stake in GRSE. As on June 30, this scheme held a 6.04 per cent stake in the company, BSE data showed.
On the other hand, foreign portfolio investors (FPIs) held a 3.11 per cent stake in GRSE as on June 30, 2023. The government holds 74.5 per cent of the city-based PSU.
GRSE shares rose 28.53 per cent during the week to close at Rs 748.55 in NSE with a high volume of trading.
Foreign Portfolio Investors hold 3.11 per cent in the PSU warship maker as on June 30.
Other PSU port stocks like Mazgaon Dock and Cochin Shipyard also rose during the week.
Park Hotels owner files draft papers with Sebi to raise Rs 1,050 cr via IPO (20-08-2023)
Apeejay Surrendra Park Hotels Ltd, which runs hotels under the "The Park" brand, has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,050 crore through an initial public offering (IPO).
The IPO comprises a fresh issue of equity shares worth Rs 650 crore and an offer for sale (OFS) of equity shares to the tune of Rs 400 crore by promoters and investor shareholders, according to the draft red herring prospectus (DRHP) filed on Saturday.
Those offering shares in the OFS are Apeejay Surrendra Trust, Apeejay Pvt Ltd, RECP IV Park Hotel Investors Ltd, and RECP IV Park Co-Investors Ltd.
At present, promoters and promoter group members hold a 94.18 per cent stake in the company, and the two investors own 5.82 per cent shareholding in the firm.
Proceeds of the fresh issue would be utilised toward the payment of debt and for general corporate purposes.
The company operates hospitality assets under its brands, The Park, The Park Collection, Zone by The Park, Zone .
Market regulator Sebi to bring follow-on offer rules for REITs, InvITs (20-08-2023)
To develop the market for emerging investment instruments, Sebi is looking to bring in norms for follow-on offers by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).
REITs and InvITs were introduced in India to provide investors with an opportunity to gain exposure to real estate and infrastructure projects respectively, with diversification of risks through pooling arrangements.
Generally, REITs invest majorly in completed and rent-generating real estate assets. Privately placed InvITs can invest in under-construction assets as well as completed and revenue-generating assets and public InvITs can invest majorly in completed and revenue-generating assets.
"Taking cognizance of the potential of REITs and InvITs in driving the future of Indian infrastructure, Sebi would endeavour to further develop the market for REITs and InvITs in the coming years through policy measures including considering bringing in norms for follow-on offers by REITs and ..
Trends, trading activity of foreign investors to guide markets: Analysts (20-08-2023)
With the first quarter earnings season coming to an end, the domestic equity markets would be driven by global trends and trading activity of foreign investors this week, analysts said.
The movement of global oil benchmark Brent crude and the rupee against the dollar would also drive trends in the market.
"Macroeconomic indicators, trends in global stock markets and FII activities will be pivotal in shaping market trends in the coming days," Pravesh Gour, Senior Technical Analyst at Swastika Investmart Ltd, said.
The market will react to some key global events such as the US existing home sales, initial jobless claims, and Eurozone S&P global composite PMI, Arvinder Singh Nanda, Senior Vice President at Master Capital Services Ltd, said.
"With Fed Chair Jerome Powell's speech and more macro data lined up globally this week, we expect domestic as well as global markets to remain under pressure. Also, RBI would release its meeting minutes on Thursday.
"However, action is likely to .