With this acquisition company will gain access to low-cost duty-free locations for manufacturing.
Posts in category Business Standard
Silver remains unchanged, gold falls by Rs 50, trading at Rs 59,400/10g (29-08-2023)
The price of 22-carat gold fell by Rs 50, with the yellow metal selling at Rs 54,450
Stocks to Watch on Aug 29: RIL, Adani, Indiabulls Housing, SJVN, APL Apollo (29-08-2023)
Stocks to Watch today, August 29, 2023: An investigation of India’s Adani group by the market regulator has uncovered violations of rules on disclosures by listed entities
MARKET LIVE: RIL, Airtel weigh on benchmarks; SmallCap index at new high (29-08-2023)
Stock market live updates: Broader markets, too, edged higher as Nifty Midcap 100 and Nifty Smallcap 100 indices climbed up to 0.6 per cent
Nifty Private Bank index may spurt up to 25,525; Look to buy the dips (29-08-2023)
According to Ravi Nathani, an independent technical analyst, traders can keep a stop at 22,800 while taking a long position in the Nifty Private Bank index.
University of Notre Dame sells 3% stake; Vishnu Prakash IPO subscribed 88x (28-08-2023)
The company was looking to issue Rs 309 crore in fresh capital through the IPO
3 entities sell Star Health and Allied Insurance’s shares worth Rs 1,312 cr (28-08-2023)
Three entities — ROC Capital, Madison Capital and University of Notre Dame — on Monday sold shares of Star Health and Allied Insurance Company for Rs 1,312 crore through open market transactions.
Investment management firm ROC Capital through its affiliate ROC Star Investment Trust and Madison Capital through its fund MIO IV STAR offloaded the shares of the company.
According to the block deal data available with BSE, University of Notre Dame DU LAC, ROC Capital and Madison Capital offloaded a total of 2,15,10,200 shares of Star Health and Allied Insurance in four tranches.
The shares were offloaded at an average price of Rs 610.2 apiece, taking the combined transaction size to Rs 1,312.55 crore.
These shares were acquired by ICICI Prudential Life Insurance Company and funds affiliated with Fidelity Investments. Together, both the companies picked up 3.7 per cent stake in health insurance company.
Shares of Star Health and Allied Insurance Company closed flat at Rs 611.55 apiece
NSE’s currency derivative segment sees transactions of Rs 609 trn in 15 yrs (28-08-2023)
Leading bourse NSE’s exchange-traded currency derivatives, which completes 15 years on Tuesday, witnessed close to 2,000 crore contracts worth Rs 609 lakh crore transactions during its journey.
The National Stock Exchange of India (NSE) introduced the Exchange Traded Currency Derivatives segment on August 29, 2008, with the launch of Futures on currency spot rate US Dollar – Indian Rupee.
The first day of trading witnessed trading of 65,798 contracts worth Rs 291 crore with participation from more than 150 trading members, including banks.
“In the 15 years journey, close to 20 billion contracts worth Rs 609 trillion have transacted on the exchange,” the bourse said in a statement on Monday.
In the last 10 years, the number of contracts traded has increased by 7 times from daily average contracts traded to 1.92 crore in the financial year 2022-23 (FY23) from 27 lakh in FY14. During the same period, turnover has risen by 3.4 times from a daily average turnover of Rs 41,400 crore in F
Sebi notifies new ‘fit and proper’ criteria for exchanges, clearing corps (28-08-2023)
Capital markets regulator Sebi has tweaked its framework regarding ‘fit and proper’ criteria for stock exchanges and other market infrastructure institutions, whereby any direction passed against such institutions will not affect their operations.
The new rules are aimed at separating the role of an individual from such institutions.
In two separate notifications, the Securities and Exchange Board of India (Sebi) said that ‘fit and proper person’ criteria will apply to the applicant, stock exchange, clearing corporation, depository, their shareholders, directors and key management personnel at all times.
Further, such Market Infrastructure Institutions (MIIs) will have to ensure that all its shareholders, directors and key management personnel are fit and proper persons at all times.
If any director or key management personnel of a MII is not deemed to be fit and proper, such entities will have to replace such a person within 30 days from the date of such disqualification, failing
RBI pumps Rs 11,496 crore to banks; liquidity pressure seen easing (28-08-2023)
The yield on the benchmark 10-year government bond fell by 2 basis points to settle at 7.18 per cent, against 7.20 per cent on Friday