Posts in category Business Standard
Mcap of top valued firms erodes by Rs 70,487 cr; RIL, TCS biggest laggards (21-05-2023)
Six of the 10 most valued firms faced a combined erosion of Rs 70,486.95 crore in their market valuation last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit following a weak trend in equities.
While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers.
Last week, the BSE Sensex declined 298.22 points or 0.48 per cent.
"Markets took a breather last week and shed half a per cent amid mixed cues. The beginning was upbeat, however, profit-taking in heavyweights across sectors pushed the index lower in the following sessions," Ajit Mishra, VP - Technical Research at Religare Broking Ltd, said.
Among major losers, the market valuation of Reliance Industries fell by Rs 27,941.49 crore to Rs 16,52,702.63 crore and that of TCS eroded by Rs 19,027.06 crore to Rs 11,78,854.88 crore.
HDFC Bank's valuation declined by Rs
Mcap of top valued firms erodes by Rs 70,487 cr; RIL, TCS biggest laggards (21-05-2023)
Six of the 10 most valued firms faced a combined erosion of Rs 70,486.95 crore in their market valuation last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit following a weak trend in equities.
While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers.
Last week, the BSE Sensex declined 298.22 points or 0.48 per cent.
"Markets took a breather last week and shed half a per cent amid mixed cues. The beginning was upbeat, however, profit-taking in heavyweights across sectors pushed the index lower in the following sessions," Ajit Mishra, VP - Technical Research at Religare Broking Ltd, said.
Among major losers, the market valuation of Reliance Industries fell by Rs 27,941.49 crore to Rs 16,52,702.63 crore and that of TCS eroded by Rs 19,027.06 crore to Rs 11,78,854.88 crore.
HDFC Bank's valuation declined by Rs
Centre likely to push ECGC IPO to next year amid global uncertainties (21-05-2023)
The ongoing Russia-Ukraine war and tightening of monetary policy by important central banks internationally are expected to adversely impact the valuation of ECGC if the IPO is launched now
Centre likely to push ECGC IPO to next year amid global uncertainties (21-05-2023)
The ongoing Russia-Ukraine war and tightening of monetary policy by important central banks internationally are expected to adversely impact the valuation of ECGC if the IPO is launched now
Onus of preventing front running, insider trading to fall on AMCs (20-05-2023)
Sebi proposal wants AMCs to design internal systems to identify misconduct of employees
Market regulator Sebi plans to shorten IPO listing timeline to three days (20-05-2023)
Currently, listing happens after six days from the closure of IPO
Sebi proposes to cut down IPO listing timeline to 3 days from 6 days (20-05-2023)
Capital markets regulator Sebi on Tuesday proposed to reduce the time taken for the listing of shares on stock exchanges after the closure of initial public offerings (IPOs) to three days from six days at present.
The proposed reduction in timelines for listing and trading of shares will benefit both issuers as well as investors.
"Issuers will have faster access to the capital raised thereby enhancing the ease of doing business and the investors will have opportunity for having early credit and liquidity of their investment", Sebi said in its consultation paper.
The markets regulator, in November 2018, introduced Unified Payment Interface (UPI) as an additional payment mechanism with Application Supported by Blocked Amount (ASBA) for retail investors and prescribed the timelines for listing within six days of closure of issue (T+6). 'T' is the day of closure of the issue.
Over the last few years, Sebi has ensured that a series of systemic enhancements have been undertaken across al
Sebi asks AMCs to set up control systems to identify market manipulation (20-05-2023)
Capital markets regulator Sebi on Saturday proposed that asset management companies (AMCs) set up surveillance and internal control systems for the deterrence of possible market abuse and fraudulent transactions.
It further suggested that senior management of AMCs should be responsible to ensure that an institutional mechanism is put in place to detect and report possible misconduct by its employees, dealers, stock brokers or any other connected entities.
Further, AMCs should have appropriate escalation and reporting mechanism for possible market abuse and fraudulent transactions in securities related to the AMCs' transactions, Sebi said in its consultation paper.
This comes in the wake of Sebi passing orders in two instances of front-running pertaining to Axis AMC and Life Insurance Corporation of India (LIC).
In the Axis AMC case, broker- dealers, certain employees and connected entities were found to have front-run the trades of the AMC and in the case of LIC, an employee of a .
Rs 2,000 note withdrawal: It’ll be business as usual for mkts, say analysts (20-05-2023)
The RBI on Friday announced the withdrawal of the Rs 2,000 currency note, citing its 'Clean Note Policy'
Gold price falls Rs 330 to Rs 60,870, silver dips Rs 200 to Rs 74,300 (20-05-2023)
The price of ten grams of 22-carat gold fell Rs 300 to Rs 55,800