Posts in category Business Standard
Coal India OFS retail book subscribed 1.4x a day after QIP garnered 1.6x (02-06-2023)
Bulk of bids came at around Rs 226 against base price of Rs 225, in first major disinvestment in FY24
Sebi releases bond trading guidelines on RFQ platform to increase liquidity (02-06-2023)
Capital markets regulator Sebi on Friday came out with guidelines for transactions in corporate bonds through Request for Quote (RFQ) platform by stock brokers in order to increase liquidity on the platform.
For all the trades in proprietary capacity, stock brokers will have to undertake at least 10 per cent of their total secondary market trades by value in corporate bonds in that month by placing quotes through one-to-one or one-to-many mode on the RFQ platform of stock exchanges from July 1, and further, the percentage will increase to 25 per cent from April next year, Sebi said in a circular.
Stock brokers will have to consider the trades executed by value through one-to-one (OTO) or one-to-many (OTM) mode of RFQ with respect to the total secondary market trades in corporate bonds, during the current month and immediately preceding two months on a rolling basis.
Further, only trades pertaining to proprietary capacity of stock brokers will be considered for the purpose of such ..
Coal India share sale over-subscribed, govt to get more than Rs 4,000 crore (02-06-2023)
The Coal India share sale was over-subscribed by both retail and institutional investors and the government is expected to get more than Rs 4,000 crore.
In the two-day offer for sale (OFS), the government sold its 18.48 crore shares or 3 per cent stake in Coal India at a floor price of Rs 225 apiece. At the floor price, the stake sale would fetch over Rs 4,000 crore to the exchequer.
Institutional investors had on Thursday put in bids for over 28.76 crore share, while retail buyers on Friday bid for over 2.58 crore shares of Coal India. Institutional bidders on Friday put in bids for 5.12 crore shares.
Coal India OFS is the maiden government stake sale of a public sector undertaking in the current fiscal.
The government currently holds 66.13 per cent in CIL.
The stake sale in Coal India will help the government inch towards the Rs 51,000-crore disinvestment target set for the current fiscal.
Shares of Coal India settled for the day at Rs 230.90 apiece on the BSE, up 0.15 per cen
Finfluencers now ‘renting’ research analyst licences in fear of Sebi action (02-06-2023)
They are charging a rent of 20% of the fee they make by providing trading calls and stock tips
Apollo Hospitals hits 52-wk high on talks to raise $200 mn; up 8% in 2 days (02-06-2023)
Apollo Hospitals is looking to sell around 5-6 per cent stake in Apollo HealthCo at an expected enterprise value of $2.5-$3 billion, said a report by The Economic Times
Bank of Baroda board approves raising Rs 5,000 crore by March 2024 (02-06-2023)
The capital will be raised when the market is conducive, the bank said
Sebi lists new norms for high-risk FPIs: What it means for investments (02-06-2023)
Who is impacted; do the new rules better protect Indian companies from opportunistic takeover: questions answered
Mankind Pharma scales new high; rallies 11% in 3 days post Q4 earnings beat (02-06-2023)
Currently, the stock was quoting 40 per cent higher over its issue price of Rs 1,080.
Graphite India, HEG surge 10% on heavy volumes in subdued market (02-06-2023)
The steel industry's accelerating efforts to decarbonize will lead to an increased adoption of Electric Arc Furnace steel production, in turn driving sustainable demand growth for graphite electrodes.
Minda Corp hits new high; up 4% ahead of board meet to raise funds (02-06-2023)
The board will meet today to discuss and consider, among other things, raising of funds through issue of equity shares by way of preferential issue, qualified institutions placement or rights issue.