According to Ravi Nathani, an independent technical analyst, given the overbought conditions on Nifty Pharma traders are advised to book profits and adopt a cash position for near- and short-term.
Posts in category Business Standard
Stock markets and economic growth have little correlation, says Mukherjea (26-07-2023)
Saurabh Mukherjea tells that regardless of what happens to the global economy, this post-pandemic stock market rally will continue
Sebi exempts 3 trusts from making open offer to Taj GVK Hotels shareholders (26-07-2023)
Markets regulator Sebi on Wednesday exempted three trusts from making an open offer to the shareholders of Taj GVK Hotels and Resorts Ltd after their proposed acquisition of a 49.44 percent stake in the company.
The order came after three trusts — Blue Moon Trust, Moonshot Trust, and Starlight Trust– filed an application with the regulator in April 2023, and sought exemption from certain provisions of takeover regulations.
The acquirer trusts have been set up as private family trusts for providing suitable succession planning between the members of the Gunupati Indira Krishna Reddy family.
Under the proposed acquisition, Gunupati Indira Krishna Reddy, who is a promoter of Taj GVK Hotels, intends to transfer a total of 49.44 percent of her shareholding in the firm to the three trusts, according to a Sebi order.
Once the transaction is complete, the acquirer trusts would collectively hold 49.44 per cent shares in Taj GVK Hotels.
The proposed transaction triggers the open offer ..
Gift Nifty logs highest-ever turnover of $12.4 billion on July 25 (26-07-2023)
Gift Nifty, which was being traded at the Singapore Exchange (SGX), has been transitioned to GIFT City in Gujarat
IPO of Yatharth Hospital subscribed 1.1 times on first day of issue (26-07-2023)
For the year ended March 2023, the company had reported net profit of Rs 66 crore on revenues of Rs 520 crore
SBI Mutual Fund purchases United Breweries shares for Rs 678 crore (26-07-2023)
SBI Mutual Fund on Wednesday bought shares of United Breweries Ltd for Rs 678 crore through an open market transaction.
According to the block deal data available with the NSE, SBI Mutual Fund acquired 46,28,452 shares of United Breweries Ltd (UBL).
The shares were purchased at an average price of Rs 1,465.80 per piece, taking the aggregate transaction size to Rs 678.43 crore.
Meanwhile, these shares were offloaded by the State Bank of India (S) at the same price.
Shares of UBL rose 1.31 per cent to close at Rs 1,500 apiece on the NSE.
As of the June quarter, dutch brewing major Heineken holds a majority stake in United Breweries Ltd.
Persons-in-control norms may allow founders to skirt liability: InGovern (26-07-2023)
Proxy advisory firm InGovern advocates allowing ESOPs to promoters of late-stage companies
Mutual funds offer lower costs as competition rises in passive space (26-07-2023)
Edelweiss MF brings down index fund costs to the lowest in their category
Tata Motors’ DVR shares soar over 12% on conversion plan announcement (26-07-2023)
Cancellation of ordinary shares to attract three levels of taxes
Tata Motors’ DVR shares soar over 12% on conversion plan announcement (26-07-2023)
Cancellation of ordinary shares to attract three levels of taxes