On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the Nifty could swing in the 19,783 – 19,567 range in the near term.
Posts in category Business Standard
Stock market LIVE: Sensex up 500 pts; Energy, infra indices jump 1% each (26-07-2023)
Stock market live updates: Broader markets, too, exhibited resilience as Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 0.3 per cent
Nifty FMCG looks weak; Metal index likely to face resistance above 6,600 (26-07-2023)
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index has near support at 51,750, below which the index can slide to 50,990.
Oriana Power IPO to open on Aug 1; fixes price band at Rs 115-118 per share (25-07-2023)
Noida-based solar energy solutions provider Oriana Power on Tuesday said it has set a price band of Rs 115-118 per share for its Initial Public Offering (IPO), which will hit the capital market on August 1.
The bidding for anchor investors will open on July 31 and the public issue will conclude on August 3, the company said in a statement.
The company’s shares will be listed on SME Emerge platform of the National Stock Exchange.
The IPO of Oriana Power will comprise 50.55 lakh equity shares with a face value of Rs 10 each..
The firm will use the IPO proceeds to fund its working capital requirements, investment in subsidiary companies, capital expenditure and general corporate purposes.
Corporate Capital Ventures is the lead manager of the IPO while Skyline Financial Service is the registrar.
The company recently closed its pre-IPO round, with investments from JSW Energy’s Prashant Jain, Meru Founder Neeraj Gupta and MSMEx’s Amit Kumar, among others.
Sebi issues Rs 2.22 cr demand notice to YES Bank’s former MD Rana Kapoor (25-07-2023)
Sebi on Tuesday sent a notice to Yes Bank’s former MD and CEO Rana Kapoor asking him to pay Rs 2.22 crore in a case of misselling the lender’s AT-1 bonds and warned of arrest if he fails to make the payment within 15 days.
The regulator also warned that his assets and bank accounts would be attached in case the payment is not made within the stipulated time.
The case relates to misselling of the bank’s AT-1 (Additional Tier-1) bonds to retail investors by the bank’s officials.
It was alleged that the bank and certain officials did not inform investors about the risk involved while selling the AT-1 bonds in the secondary market. The sale of AT-1 bonds started in 2016 and continued till 2019.
The demand notice came after Kapoor failed to pay the fine imposed on him by the Securities and Exchange Board of India (Sebi) in September 2022.
In a notice issued on Tuesday, Sebi directed Kapoor to pay Rs 2.22 crore, which includes interest and recovery cost, within 15 days.
In the event
Market regulator Sebi puts on hold regulations on index providers (25-07-2023)
Sebi also proposed a minimum net worth of Rs 25 crore for index providers and the constitution of an oversight committee to review their existing index design
SBI Caps asks ARCs to make final offers for Vidarbha Industries’ debt (25-07-2023)
Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company’s debt, said a banking source
RBI stocks up the US dollar, pulling rupee down from six-month high (25-07-2023)
The RBI intervened and the rupee hit the 81.90 level in intraday trade. The rise in crude oil prices further weighed on the Indian currency
Sebi receives 4,085 complaints for corporate governance violations in 4 yrs (25-07-2023)
Capital markets regulator Sebi has received 4,085 complaints pertaining to the flouting of corporate governance norms against 1,551 companies in the last four-and-half years, Parliament was informed on Tuesday.
Of these, 132 complaints were received against firms in the current financial year till July 13; 640 grievances in 2022-23, 809 in 2021-22, 1,151 in 2020-21 and 1,353 in 2019-20, Minister of State for Finance Pankaj Chaudhary said in a written reply to the Rajya Sabha.
During the last four years and current year, complaints for corporate governance violations were received against several companies, including Yes Bank, Zee Entertainment Enterprises, Religare Enterprises, Adani Enterprises, Adani Ports And Special Economic Zone, Adani Power and ACC Ltd.
In cases of complaints regarding violation of corporate governance norms, Sebi takes up the matter with the concerned stock exchange, which in turn, seeks comments from the concerned company, and subsequent steps are taken for
Vinsys IT Services set price band at Rs 121-128/share; IPO to open on Aug 1 (25-07-2023)
IT and software services company Vinsys IT Services India on Tuesday said it has set a price band of Rs 121-128 per share for its initial public offering, which will hit the capital market on August 1.
The public issue will conclude on August 4.
The proceeds from the fresh issue will be utilised for meeting working capital requirements, repayment of loan to a subsidiary and general corporate purpose.
The company shares will be listed on SME Emerge platform of the National Stock Exchange after the Initial Public Offering (IPO), the company said in a statement.
The firm plans to offer 3.89 million equity shares with a face value of Rs 10 each through the book-building process.
The company will raise up to Rs 49.84 crore through the public offering.
Marquee investors such as NAV Capital Emerging Star Fund, xMultiplied, Nova Global Opportunities Fund, Aegis Investment Fund and Sambhavnath Investments have invested in the company’s pre-IPO funding.
For the fiscal year ending March 31