HDFC Bank (merged entity) reported gross loan growth of 15 per cent compared to a standalone loan growth of 20 per cent, an analyst pointed out
Posts in category Business Standard
Nifty gains for a 7th day; Sensex’s winning run snapped ending 5-day streak (05-07-2023)
FPIs bought shares worth Rs 1,603 crore, while their domestic counterparts were net sellers to the tune of Rs 439 crore
LIC offloads over 2% shares in India Cement via open market transactions (05-07-2023)
Life Insurance Corporation of India (LIC) on Wednesday said it has offloaded a little over 2 per cent stake in India Cement through open market transactions between November 2007 and July 2023.
“…Corporation’s shareholding in ‘India Cement Ltd’ has diluted from 18,205,665 to 11,877,759 equity shares decreasing its shareholding from 5.875 per cent to 3.833 per cent of the paid-up capital of the said company,” LIC said in a regulatory filing.
These shares were sold at an average price of Rs 191.59 apiece during the period from November 21, 2007 to July 4, 2023. The holding decreased from 5.875 per cent to 3.833 per cent, a decline of 2.042 per cent, it said.
Shares of LIC closed 0.81 per cent higher at Rs 626.95 apiece on the BSE.
NSE cautions investors against assured returns scheme by 2 individuals (05-07-2023)
The National Stock Exchange (NSE) on Wednesday cautioned investors not to put their money in any assured returns scheme offered by two individuals.
The two individuals are: Riya Sharma, associated with Share Expert Tips; and Himanshu Thakkar, associated with New York live trade.
They (Riya and Himanshu) were providing securities market tips for trading and assuring returns on investment in stock market and also offering to handle the trading account of investors by asking them to share their credentials, the NSE said in two separate statements.
According to the statements, these persons are not registered either as a member or authorised persons of any registered member of the NSE.
Cautioning the investors, NSE asked them not to subscribe to any such scheme or product offered by any person or entity offering guaranteed returns in the stock market as the same is prohibited by law.
The bourse has also provided a facility to investors of ‘Know/Locate your Stock Broker’ on its website
Sebi amends guidelines for institutional placement of units by InvITs (05-07-2023)
Sebi on Wednesday amended the guidelines for preferential issue and institutional placement of units by Infrastructure Investment Trusts and Real Estate Investment Trusts.
The changes have been made after receiving feedback from stakeholders.
In two separate but similarly-worded circulars issued for InvITs and REITs, Sebi has mentioned about pricing for institutional placement of units.
“The institutional placement should be made at a price not less than the average of the weekly high and low of the closing prices of the units of the same class quoted on the stock exchange during the two weeks preceding the relevant date,” Sebi said.
According to the regulator, InvITs and REITs may offer a discount of not more than five per cent on the price, subject to approval of the unitholders concerned.
The relevant date for deciding the price would be the “date of the meeting in which the board of directors of the manager decides to open the issue”.
Shri Techtex plans to raise Rs 45-50 cr through IPO: Executive Director (05-07-2023)
Ahmedabad-based technical textile manufacturer Shri Techtex Ltd plans to raise Rs 45-50 crore through its initial public offering (IPO) to expand and grow its business.
The company has filed DRHP (draft red herring prospectus) earlier this year to launch its IPO. The shares will be listed on NSE Emerge.
It will use the issue proceeds to fuel its growth and expand margins.
The company expects to raise Rs 45-50 through the IPO, said Hanskumar Agarwal, Executive Director, Shri Techtex Ltd.
According to the objects of the proposed public issue, the proceeds will be used mainly for the construction of the factory shed (Rs 3.71 crore), commissioning of a solar plant (Rs 4.89 crore), purchase of machinery (Rs 8.34 crore), and meeting working capital requirement (Rs 13.30 crore).
Shri Techtex is eyeing to cross Rs 100 crore-mark in revenues by FY26, riding on a direct foray into the US market, expansion in product portfolio and improved capacities.
As per the draft paper, Shri Techtex’s
M-cap of BSE-listed firms hits Rs 300 trn, now 4th-largest equity market (05-07-2023)
India’s m-cap had first crossed the Rs 100 trillion and Rs 200 trillion milestones in 2014 and 2021, respectively
JSW Steel to replace HDFC in 30-share S&P BSE Sensex from Jul 13 (05-07-2023)
In S&P BSE 500, JBM Auto Components Ltd will replace HDFC and in S&P BSE 100, Zomato will be included in place of the mortgage lender
Sebi brings new dispute resolution mechanism for investors, intermediaries (05-07-2023)
Investors will now get a review by a designated body if they aren’t satisfied with a resolution. If an investor is dissatisfied even with the first review, Sebi will do a second review
Sebi brings new dispute resolution mechanism for investors, intermediaries (05-07-2023)
Investors will now get a review by a designated body if they aren’t satisfied with a resolution. If an investor is dissatisfied even with the first review, Sebi will do a second review