Posts in category Business Standard
Nifty Financial, Nifty Private Bank: Wait for these breakouts for direction (04-10-2023)
According to Ravi Nathani, initiating trades before the breakout occurs is laden with risk, traders should act once the breakout signals the market's chosen direction
Nifty struggling to cross 20-DEMA; UCO Bank, Lemon Tree top technical picks (04-10-2023)
As per Vinay Rajani, Nifty's 20 DEMA is placed at 19,700 odd levels. A sustainable level above this could result in a bullish trend reversal in Nifty
Winro Commercial India sells Sheela Foam’s shares worth Rs 93 crore (03-10-2023)
Winro Commercial India Ltd on Tuesday offloaded shares of Sheela Foam, the maker of popular mattress brand Sleepwell, for Rs 93 crore through an open market transaction.
According to the block deal data available with the National Stock Exchange (NSE), Winro Commercial India sold more than 8.34 lakh shares at an average price of Rs 1,114 apiece.
This took the deal value to Rs 92.97 crore.
These shares were purchased by Blue Diamond Properties Pvt Ltd at the same price.
Shares of Sheela Foam fell 0.49 per cent to close at Rs 1,136 per piece on the NSE.
In July, Sheela Foam Ltd said it will acquire a 94.66 per cent stake in Kurlon Enterprises Ltd (KEL) for Rs 2,150 crore.
Polycab India, Lodha, Shriram Finance, and PFC may migrate to largecaps (03-10-2023)
Further, Mazagon Dock, Suzlon Energy, Lloyds Metals and SJVN could migrate from smallcap universe to midcap universe, as per an analysis done by Nuvama Alternative & Quantitative Research
Polycab India, Lodha, Shriram Finance, and PFC may migrate to largecaps (03-10-2023)
Further, Mazagon Dock, Suzlon Energy, Lloyds Metals and SJVN could migrate from smallcap universe to midcap universe, as per an analysis done by Nuvama Alternative & Quantitative Research
FTX Founder Sam Bankman’s fraud trial gets under way with jury selection (03-10-2023)
US District Judge told group of 50 prospective jurors gathered in courtroom on top floor of a federal courthouse in lower Manhattan that he would ask them questions to try to seat a 12-member panel
Sebi to introduce mechanism for verification in case of demise of investors (03-10-2023)
Capital markets regulator Sebi on Tuesday announced a centralised mechanism for reporting and verification through the KYC Registration Agency in case of the demise of an investor.
Also, the regulator has put in place operational norms, including the obligations of regulated entities and registered intermediaries that have interfaces with investors or account holders who are natural persons.
The new framework will come into effect from January 1, 2024, the Securities and Exchange Board of India (Sebi) said in a circular.
Sebi said that listed companies wishing to provide beneficial access to such a centralized mechanism to their investors holding securities in physical form can establish connectivity with KRA through their RTAs.
After receiving intimation about the demise of an investor, the concerned intermediary will have to obtain the death certificate along with the PAN from the notifier or nominee and verify the death certificate through online or offline mode.
If the concern
Pharma firm Valiant Lab IPO subscribed 29.75 times on last day of offer (03-10-2023)
The Initial Public Offering (IPO) of pharmaceutical ingredient manufacturing firm Valiant Laboratories received 29.75 times subscription on the last day of bidding on Tuesday.
The initial share sale received bids for 22,68,13,020 shares against 76,23,030 shares on offer, according to an update available with the NSE.
The portion for non-institutional investors was subscribed 73.63 times while the quota for qualified institutional buyers received 20.83 times subscription. Retail individual investors portion got subscribed 16.05 times.
The IPO was an entirely fresh issuance of up to 1.08 crore equity shares. Price range for the offer was Rs 133-140 a share.
Proceeds of the issue will be utilised to set up a manufacturing facility for speciality chemicals in Gujarat through its subsidiary -- Valiant Advanced Sciences Private Ltd -- and to meet the working capital requirements of the subsidiary company.
Valiant Laboratories is an active pharmaceutical ingredient or bulk drug manufactu
Plaza Wires IPO subscribed 27.78 times on day two of subscription (03-10-2023)
The Initial Public Offering (IPO) of Plaza Wires was subscribed 27.78 times on the second day of subscription on Tuesday.
The IPO received bids for 26,37,76,020 shares against 94,96,114 shares on offer, as per data available with the NSE.
The category for Retail Individual Investors (RIIs) was subscribed 118.24 times while the quota for non-institutional investors received 53.06 times subscription and the portion for Qualified Institutional Buyers (QIBs) got subscribed 42 per cent.
The offer is a fresh issue of up to 1,32,00,158 equity shares. The price range for the offer is Rs 51-54 a share.
The company is in the business of manufacturing, marketing and selling wires, aluminium cables and fast-moving electrical goods like electric fans and water heaters.
Plaza Wires has raised Rs 20 crore from anchor investors.
Pantomath Capital Advisors is the manager to the offer.
The equity shares of the company are proposed to be listed on the BSE and NSE.
Treasury yields kept dollar firmly on front foot as others currencies fall (03-10-2023)
The combination of that and an agreement to avert a partial U.S. government shutdown sent benchmark Treasury yields to as high as 4.706% on Tuesday, a 16-year peak, in turn driving the dollar higher