Posts in category Business Standard
M-cap of seven of 10 firms declines by Rs 80,200 cr; TCS biggest laggard (20-08-2023)
The combined market valuation of seven of the top 10 valued firms declined by Rs 80,200.24 crore last week amid a weak trend in equities, with Tata Consultancy Services and HDFC Bank emerging as the biggest laggards.
In a holiday-shortened last week, the BSE benchmark fell by 373.99 points or 0.57 per cent.
From the top 10 pack, Reliance Industries, Hindustan Unilever and Infosys were the gainers while Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, State Bank of India, Bharti Airtel and Bajaj Finance saw a decline in their valuation.
The market valuation of Tata Consultancy Services (TCS) tanked Rs 29,894.45 crore to Rs 12,32,240.44 crore.
HDFC Bank's valuation declined by Rs 19,664.06 crore to Rs 12,02,728.20 crore.
The market valuation of Bajaj Finance eroded by Rs 12,233.5 crore to Rs 4,15,763.47 crore and that of ITC tumbled Rs 8,338.45 crore to Rs 5,50,821.26 crore.
Bharti Airtel's market capitalisation (mcap) fell by Rs 8,081.38 crore to Rs 4,78,730.70 crore a
Brookfield India REIT raises Rs 750 cr via issue of commercial papers (18-08-2023)
Brookfield India Real Estate Trust has raised Rs 750 crore through issue of commercial papers to partly fund acquisition of two properties in Mumbai and Gurugram.
According to a regulatory filing, Brookfield India Real Estate Trust has issued and allotted 15,000 dematerialised, rupee denominated, listed and rated commercial papers, aggregating to Rs 750 crore at a face value of Rs 5 lakh each.
Recently, the company said it has a financial commitment in place for the acquisition of two large commercial assets, totalling 6.5 million square feet, in an equal partnership with GIC, from Brookfield Asset Management's private real estate funds.
The company has already raised Rs 2,305.4 crore through the Qualified Institutional Placement (QIP).
It plans to raise Rs 400 crore through preferential allotment to the sponsor group.
The acquisitions of Downtown Powai, Mumbai and Candor TechSpace (G1) Gurugram will add significant scale and diversification to its portfolio, the company said, add
Markets posts fourth straight weekly loss; Sensex ends 202 points lower (18-08-2023)
Chinese economic woes, monetary policy uncertainty pull indices
Jio Financial Services set to be listed on stock exchanges on Monday (18-08-2023)
Listing could see Rs 3,800 crore worth of selling by passive MFs
Jio Financial Services to list on Monday; MFs may sell Rs 3.8K cr shares (18-08-2023)
Listing could see Rs 3,800 crore worth of selling by passive MFs
Sebi’s new rule gives board representation rights to REITs’ unitholders (18-08-2023)
To boost corporate governance norms, markets regulator Sebi has notified rules introducing special rights to unitholders of REITs who can now nominate representatives on the boards.
Also, the regulator has introduced the concept of a self-sponsored real estate investment trust (REIT).
Further, Sebi said that principles of stewardship code would apply to members, nominated by the unitholders, on the board of directors of investment managers of REIT.
Amending rules for REITs, Sebi said, "Unitholders holding not less than 10 per cent of the total outstanding units of the REIT, either individually or collectively, shall be entitled to nominate one director on the board of directors of the manager."
This would ensure pro-rata rights to all unitholders.
Further, the director so nominated would recuse from voting on any transaction in which such nominee director or the unitholder who nominated such nominee director is a party, Sebi said in a notification on Thursday.
Over the years, ret
Sebi’s new rule gives board representation rights to REITs’ unitholders (18-08-2023)
To boost corporate governance norms, markets regulator Sebi has notified rules introducing special rights to unitholders of REITs who can now nominate representatives on the boards.
Also, the regulator has introduced the concept of a self-sponsored real estate investment trust (REIT).
Further, Sebi said that principles of stewardship code would apply to members, nominated by the unitholders, on the board of directors of investment managers of REIT.
Amending rules for REITs, Sebi said, "Unitholders holding not less than 10 per cent of the total outstanding units of the REIT, either individually or collectively, shall be entitled to nominate one director on the board of directors of the manager."
This would ensure pro-rata rights to all unitholders.
Further, the director so nominated would recuse from voting on any transaction in which such nominee director or the unitholder who nominated such nominee director is a party, Sebi said in a notification on Thursday.
Over the years, ret
Shares of Concord Biotech ends 27% higher in debut at $1 bn valuation (18-08-2023)
The Ahmedabad, Gujarat-based company opened at 900.05 rupees, a 21.5% premium to its initial public offer (IPO) price of 741 rupees
Crypto wrap: Global macro uncertainties pull market deep in the red (18-08-2023)
The uncertainty around Chinese economy, where real estate crisis has touched a new high after Evergrande filed for bankruptcy protection in New York, has also contributed to sell-off in the markets
RIL rebounds 3% from day’s low ahead of Jio Financial listing on August 21 (18-08-2023)
Shares of Reliance Industries touched an intra-day high of Rs 2,576, bouncing back nearly 3 per cent from its intra-day low of Rs 2,508.50 on the BSE