Posts in category Business Standard
New entrants slow off the blocks in top-heavy mutual fund industry (16-08-2023)
Five new fund houses Rs 12,400 crore AUM during their initial period
Varshney, Singh fill two vacant posts of whole-time members at Sebi (16-08-2023)
Government has appointed both for an initial period of three years
Bitcoin’s extreme volatility vanishes amid ‘extreme apathy and exhaustion’ (16-08-2023)
It's an unusual stretch of calm for the token, which has over the years garnered attention for its wild price swings
Shares of SBFC Finance gains 62% on trading debut, subscribed over 70 times (16-08-2023)
The company has 152 branches spread across 120 cities and 16 Indian states
Coinbase gets approval to offer crypto futures to eligible US customers (16-08-2023)
Coinbase said it's received regulatory approval to bring federally regulated crypto futures trading to eligible customers in the US, sending shares sharply higher before the opening bell Wednesday.
In June, the US Securities and Exchange Commission filed lawsuits against Binance and Coinbase, saying that the companies were in violation of the the law because they were operating as securities exchanges without registering with the agency.
Coinbase said Wednesday that it had secured regulatory approval from the National Futures Association to operate as a futures commission merchant. The cryptocurrency exchange said that it filed its application with the association in 2021.
Now that it has received approval, Coinbase says eligible US customers will be able to access regulated derivatives products through Coinbase Financial Markets, subject to the oversight of the Commodity Futures Trading Commission and the NFA.
The company tweeted that it can now offers cryptocurrency futures ...
Market to see a period of consolidation, says Kotak Institutional Equities (16-08-2023)
The brokerage said the market may find support from stable global interest rates over the next 2-3 quarters, given the sharp fall in headline inflation in the US
Happy Forgings files IPO papers to raise Rs 1,200-1,300 cr with Sebi (16-08-2023)
Auto components maker Happy Forgings Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,200-1,300 crore through an initial public offering (IPO).
The IPO comprises a fresh issue of equity shares worth Rs 500 crore and an offer for sale (OFS) of up to 80.55 lakh shares by a promoter and a selling shareholder, according to the draft red herring prospectus (DRHP) filed on Monday.
As part of the OFS, 53.7 lakh equity shares will be offloaded by Paritosh Kumar Garg (HUF) and up to 26.85 lakh equity shares by India Business Excellence Fund - III.
Also, the company may consider a pre-IPO placement of shares aggregating up to Rs 100 crore. If such placement is completed, the fresh issue size will be reduced.
According to market sources, the IPO size is expected to be Rs 1,200-1,300 crore.
Going by the draft papers, proceeds from the fresh issue to the tune of Rs 213.6 crore will be utilized towards the purchase of equipment, plant, and machinery, up to Rs
Markets extend gains on fag-end buying; Infosys, L&T shine amid mixed trend (16-08-2023)
Benchmark equity indices Sensex and Nifty pared early losses to close higher on Wednesday, helped by fag-end buying in index majors Infosys, L&T and M&M amid a mixed trend in global markets.
The 30-share BSE Sensex climbed 137.50 points or 0.21 per cent to settle at 65,539.42. During the day, it fell by 369.03 points or 0.56 per cent to 65,032.89.
The NSE Nifty gained 30.45 points or 0.16 per cent to end at 19,465.
UltraTech Cement was the biggest gainer in the Sensex pack, rising 2.43 per cent, followed by NTPC, Tata Motors, Infosys, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Maruti, Wipro and SBI were the major gainers.
In contrast, Tata Steel, Bharti Airtel, Bajaj Finserv, Axis Bank, Bajaj Finance and JSW Steel were the major laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory.
European markets were trading mostly in the green. The US markets ended lower on Tuesday.
Global oil benchmark Brent crude climbed 0.01 per
Block deal impact: JSW Energy, Religare surge up to 10%, hit 52-week highs (16-08-2023)
Religare Enterprises hit a 52-week high of Rs 242.55, soaring 10% after around 25 million equity shares changed hands on the BSE till 03:14 PM
Uno Minda at 52-wk high; soars 7% on commissioning EV component plants (16-08-2023)
The company has also received new orders with annualised peak value of more than Rs 600 crore for EV systems. during the Q1FY24