Posts in category Business Standard
FPIs investments pump 10-month high of Rs 47,148 crore in June (02-07-2023)
Before this, they invested a net sum of ~51,204 crore in equities in August 2022, the data showed
NSE explores carbon credit market, introducing electricity derivatives (02-07-2023)
The National Stock Exchange is exploring opportunities in electricity derivatives and the voluntary carbon credit (VCC) market to deepen its product portfolio as part of its transformation into a multi-asset stock exchange.
The world's largest derivatives stock exchange also plans to introduce derivative contracts based on the indices of the corporate bond index and government bond index, subject to clearance from regulators.
"We are evaluating the voluntary carbon credits market. There are only two markets at this time. There are about 26 million voluntary carbon credits available in India as of today, which can be monetised," NSE Chief Business Development Officer Sriram Krishnan told PTI.
He was in the city to participate in the Eureka Stock Broking organised Financial Conclave.
"We need to figure out how to build a market for these VCCs so that they can find their values. You need to monetise them, and of course, we also need to create a healthy market going forward, because In
M-cap of top-10 most valued firms jumps Rs 1.88 trn; HDFC Bank top gainer (02-07-2023)
The combined market valuation of the top 10 most valued firms jumped Rs 1.88 lakh crore last week, with HDFC Bank and Tata Consultancy Services emerging as the biggest gainers, amid bullish investor sentiments.
Last week, the BSE benchmark jumped 1,739.19 points or 2.76 per cent.
The 30-share BSE Sensex jumped 803.14 points or 1.26 per cent to settle at its lifetime closing high of 64,718.56 on Friday. During the day, it zoomed 853.16 points or 1.33 per cent to reach its record intra-day peak of 64,768.58.
Propelled by optimism in equities, the combined market valuation of the top 10 most valued firms increased by Rs 1,88,050.82 crore.
The valuation of HDFC Bank surged Rs 32,600.19 crore to Rs 9,51,584.36 crore, the most among the top 10 firms.
Tata Consultancy Services (TCS) added Rs 30,388.43 crore, taking its market valuation to Rs 12,07,669.91 crore.
The valuation of Infosys jumped Rs 28,862.38 crore to Rs 5,54,091.27 crore, and that of Reliance Industries zoomed Rs 23,984.28
$7.5 bn derivative trade shifts to India as SGX feud comes to end (02-07-2023)
SGX Nifty, the Singapore Exchange Ltd.-traded futures on India's key equity NSE Nifty 50 Index, will be known as GIFT Nifty from July 3, and all outstanding orders will be transferred to the GIFT City
Muthoot Microfin files preliminary papers with Sebi for Rs 1,350 cr IPO (01-07-2023)
Muthoot Microfin plans to raise up to Rs 1,350 crore through an initial share sale and has filed draft papers with markets regulator Sebi.
The Initial Public Offering (IPO) of the company that provides micro loans to women customers will comprise a fresh issue worth up to Rs 950 crore and an Offer For Sale (OFS) of equities to the tune of Rs 400 crore.
According to the Draft Red Herring Prospectus (DRHP) filed on Friday, the company will also look at pre-IPO placement to raise Rs 190 crore. If that placement is undertaken, the size of the fresh issue will be reduced.
The company plans to use proceeds from the fresh issue for augmenting its capital base to meet future capital requirements.
Through the OFS route, various entities plan to offload Rs 400 crore-worth shares. While Greater Pacific Capital WIV Ltd proposes to offload equities worth up to Rs 100 crore, Thomas John Muthoot, Thomas Muthoot and Thomas George Muthoot plan to sell shares aggregating up to Rs 70 crore ...
Sebi penalises promoter entity of ZEEL for certain disclosure lapses (01-07-2023)
Sebi has penalised Cyquator Media Services, a promoter entity of ZEE Entertainment Enterprises Ltd (ZEEL), for certain disclosure lapses.
A fine of Rs 4 lakh has been imposed on Cyquator for failing to make adequate disclosures regarding certain trades in shares of ZEEL.
The regulator had conducted an examination of trading in ZEEL shares by the entity to ascertain any possible violations of insider trading norms during the period from January 1 to December 26, 2019.
"It was observed that the noticee (Cyquator Media Services) being a promoter has made delayed disclosure with respect to creation of pledge and also failed/made delayed disclosures w.r.t. invocation and sale of pledge to ZEEL and exchanges," Sebi said in an order passed on Friday.
A show cause notice was issued to the noticee, which submitted its reply.
The noticee contended that failure to make disclosures within the stipulated time, was unintentional, technical or inadvertent and that no gain or unfair advantage has
Gold price rises Rs 100 to Rs 58,850, silver falls Rs 500 to Rs 71,400 (01-07-2023)
The price of 22-carat gold increased by Rs 100 to Rs 53,950
Promoter group of Adani Transmission sells 3.04% stake for Rs 2,666 cr (30-06-2023)
A promoter group entity of Adani Transmission on Friday divested its entire 3.04 per cent stake in the firm for Rs 2,666 crore through an open market transaction.
Following the stake sale, Fortitude Trade and Investment, a promoter group entity of Adani Transmission exited from the firm by offloading more than 3.39 crore shares of the firm.
According to the bulk deal data available with the National Stock Exchange (NSE), Fortitude Trade and Investment disposed of 3,39,17,200 shares, amounting to 3.04 per cent stake in Adani Transmission.
The shares were sold at an average price of Rs 786.17 apiece, taking the transaction value to Rs 2,666.46 crore. As of March 2023, the promoter shareholding has been reduced to 68.61 per cent from 71.65 per cent.
Goldman Sachs Trust II - Goldman Sachs GQG Partners International Opportunities Fund and GQG Partners Emerging Markets Equity Fund acquired more than 2.13 crore shares of Adani Transmission at an average price of Rs 786.19 per share.
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Banks to make trading gains as bond yields soften 19 bps in April-June qtr (30-06-2023)
Bond yields inch up by 6 basis points on Friday as US yields rise
Sebi tweaks framework for upstreaming of client funds by brokers (30-06-2023)
Markets regulator Sebi on Friday tweaked the framework pertaining to upstreaming of all client funds received by stock brokers and clearing members to clearing corporations.
The modifications have been made following representations received from various stakeholders, including Market Infrastructure Institutions (MIIs) and stock brokers, saying that changes to the systems are still under progress, and that there are certain practical difficulties in implementation of the proposed framework.
Under the framework which was issued earlier this month, no clients' funds would be retained by stock brokers on an End of Day (EoD) basis.
Further, clients' funds will be upstreamed by stock brokers and clearing members to clearing corporations only in the form of either cash, lien on Fixed Deposit Receipt (FDR) or pledge of units of mutual fund overnight schemes,
In a circular on Friday, Sebi said stock brokers/ clearing members (SBs/CMs) may receive funds from clients beyond the prescribed