Posts in category Business Standard
Titan Company hits record high; surges 6% in one week on stable outlook (30-05-2023)
Titan's revenue to continue to record a healthy YoY growth over the next 2-3 years, driven by accelerated formalisation of the jewellery retail industry.
Stocks to watch: Adani Transmission, ONGC, IRCTC, IPCA Labs, Torrent Power (30-05-2023)
Stocks to watch on May 30, 2023: From ONGC to Adani Transmission, here are top stocks to watch in Tuesday's trading session
Stock Market Live: Indices flat; FMCG pack firm led by ITC, Page Ind up 4% (30-05-2023)
Stock market live on May 30, 2023: The broader markets outperformed benchmarks. The BSE MidCap and SmallCap indices rose up to 0.18 per cent versus nearly flat BSE Sensex index
Look to sell Nifty Financial Service, PSU Bank indices on rise (30-05-2023)
According to Ravi Nathani, an independent technical analyst, the Nifty Financial Service Index is currently trading near the higher end of the anticipated trading band of 19,100 - 19,650.
BSE, NSE put NDTV securities under short-term ASM framework from Tuesday (29-05-2023)
Leading bourses BSE and NSE will put the securities of NDTV, an Adani Group company, under the short-term ASM framework from Tuesday.
The parameters for shortlisting securities under ASM include high-low variation, client concentration, number of price band hits, close-to-close price variation and price-earning ratio.
New Delhi Television Ltd (NDTV) is shortlisted in the short-term Additional Surveillance Measure (ASM) framework Stage-I effective from May 30, the National Stock Exchange (NSE) and BSE said in two separate circulars on Monday.
The move came after both bourses had put the flagship firm of the conglomerate Adani Enterprises under the short-term ASM framework on May 25.
Last week, BSE and NSE removed NDTV from the long-term ASM framework.
On Monday, NDTV stock jumped 5 per cent on BSE and NSE.
US short-seller Hindenburg Research in its January 24 report levelled allegations of fraud and stock manipulation against the Adani group. However, a Supreme Court-appointed pan
Promoter of Gravita India sells 4.6% stake for Rs 181 cr through open mkt (29-05-2023)
A promoter of Gravita India on Monday divested a 4.6 per cent stake through an open market transaction for Rs 181 crore.
Rajat Agrawal (promoter) of Gravita India offloaded the shares.
According to the block deal data available with the National Stock Exchange (NSE), Rajat Agrawal sold 32 lakh shares, amounting to a 4.6 per cent stake in Gravita India.
The shares were disposed of at an average price of Rs 565 apiece, taking the transaction value to Rs 180.80 crore.
The shares were picked up by affiliates of financial company Nomura Holdings.
On Monday, shares of Gravita India rose 1.45 per cent to close at Rs 578.90 per piece on the NSE. During the day, the scrip hit a 52-week high of Rs 601 apiece.
Optimism on the Street: Nifty Bank hits new record as indices gain (29-05-2023)
With banking stocks leading the gains, the Bank Nifty hit a new high of 44,375 points, a gain of 357 points or 0.8 per cent
Sebi levies Rs 15 lakh fine on an individual for violating markets norms (29-05-2023)
Markets regulator Sebi on Monday slapped a fine of Rs 15 lakh on an individual for illegally mobilising funds from the public through a collective investment scheme in the matter of Alchemist Infra Realty Ltd.
In addition, the regulator asked Balvir Singh (individual) to pay the penalty within 45 days.
In the matter related to Alchemist Infra, Sebi initiated adjudication proceedings against Alchemist and its directors, including Singh, for the violation of CIS (Collective Investment Scheme) rules.
In February 2021, the markets watchdog passed an order and slapped a fine of Rs 1 crore on Alchemist and its directors, including Balvir Singh, as they were engaged in fund mobilising activity from the public by floating and launching collective investment schemes without obtaining registration from the regulator.
The order came after the Securities Appellate Tribunal (SAT) set aside Sebi's order against Singh for violating CIS norms and directed the markets watchdog to pass a fresh ...
Sebi reconstitutes intermediary advisory committee for legal framework (29-05-2023)
Sebi has reconstituted its intermediary advisory committee, which suggests on matters pertaining to changes in legal framework and enhancing transparency in systems and procedures of market intermediaries including stock brokers, depository participants and clearing members.
Rejigging its committee, the capital markets regulator said the panel will continue to be chaired by S Ravindran Jain, former executive director at Sebi. Also, the regulator has inducted new members in the panel.
The 21-member committee has representation from the brokerage industry, financial institutions, legal fields and Sebi's members, as per the information available with the markets watchdog.
The regulator has inducted several new members including Nithin Kamath, founder and chief executive officer (CEO) of Zerodha Broking and Groww's CEO Lalit Keshre.
Further, Ashish Chauhan, managing director and CEO of National Stock Exchange (NSE); Sundararaman Ramamurthy, MD and CEO of BSE; Narendra Wadhwa, President
Debt-to-earnings ratio of steel makers to remain below 2 times: Crisil (29-05-2023)
Research firm Crisil Ratings on Monday said it expects the net debt-to-EBITDA ratio of domestic steel manufacturers to stay below the level of 2 times in the financial year 2023-24.
The steel makers had reported the ratio of net debt to EBITDA in the range of 1.6-1.7 times in preceding financial year (FY) 2022-23, Crisil Ratings said in a report.
"Domestic primary steel manufacturers are likely to see their leverage, in terms of net debt to earnings before interest, tax, depreciation and amortisation (Ebitda) ratio, remain below 2.0 times this fiscal (compared to an estimated 1.6-1.7 times in fiscal 2023) despite undertaking capital expenditure to cater to growing demand," it said.
With the leverage much lower than the average of 3.5 times, seen during past five fiscals, the median credit quality of the sector is unlikely to be affected as balance sheets of the players will remain healthy. Further, project risks are expected to be low due to the brownfield nature of bulk of the ...