Stock market LIVE updates on June 23, 2023: At 8:35 AM, SGX Nifty was quoting 23 points lower at 18,808
Posts in category Business Standard
F&O Strategy: Bear Spread on AB CAPITAL, recommends HDFC Securities (23-06-2023)
Buy AB Capital Rs 170 Put option and simultaneously Sell Rs 165 Put of the June series, suggests Nandish Shah, Sr. derivatives & technical research analyst of HDFC Securities.
Nifty Midcap 50 weekly chart signals caution; watch out for these levels (23-06-2023)
According to Ravi Nathani, an independent technical analyst, while the Nifty Midcap index has strong resistance around 10,125 level.
Sebi revokes securities market ban on 6 entities in Poonawalla Fincorp case (22-06-2023)
Markets regulator Sebi on Thursday revoked a securities market ban imposed on six entities in a case of alleged insider trading in the shares of Poonawalla Fincorp Ltd, earlier known as Magma Fincorp Ltd.
The six entities are Saumil Shah, Surabhi Kishore Shah, Amit Agrawal, Murlidhar Bajaranglal Agrawal, Rakesh Rajendra Bhojgadhiya and Rakesh Rajendra Bhojgadhiya HUF.
The regulator revoked the ban following the settlement of cases by the entities.
The six entities had filed the settlement applications under the provisions of Sebi (Settlement proceedings) rules in respect of the alleged violation of norms, according to a Sebi order.
The settlement terms proposed by the noticees were accepted and approved by Sebi and subsequently, settlement orders were passed in respect of the proceedings initiated against the noticees vide the show cause notice.
Sebi had passed an ex-parte ad-interim order in September 2021, against certain entities, including the noticees, for alleged violation o
Sebi bars Eros International, MD Sunil Lulla from securities market (22-06-2023)
Sebi has observed that Eros’ 95 per cent of the revenue between the 2019-20 financial year (FY20) and FY22 have been from related parties
Sebi bars Eros International, MD Sunil Lulla from securities market (22-06-2023)
Sebi has observed that Eros’ 95 per cent of the revenue between the 2019-20 financial year (FY20) and FY22 have been from related parties
Sebi slaps Rs 20 lakh penalty on 4 entities for non-genuine trades on BSE (22-06-2023)
Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 20 lakh on four entities for indulging in non-genuine trades in the illiquid stock options segment on BSE.
The regulator imposed a fine of Rs 5 lakh each on Niruben Manojbhai Chudasama, Raj Kumar Lohiya, Nufact Merchandise Pvt Ltd and Nitu Agarwal.
Sebi had observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. The regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015.
The four entities that have been fined on Thursday were among those who indulged in the execution of reversal trades.
Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of generating artificial volumes, the regulator said.
By indulging in these acts, the enti
HMA Agro Industries IPO subscribed 98% on Day 3, NIIs subscribe 1.92 times (22-06-2023)
The Initial Public Offer (IPO) of frozen meat exporter HMA Agro Industries received 98 per cent subscription on the third day of offer on Thursday.
The Rs 480 crore-IPO received bids for 59,46,150 shares against 60,54,054 shares on offer, according to data available with the NSE.
The category for non institutional investors was subscribed 1.92 times, Qualified Institutional Buyers (QIBs) portion received 1.04 times subscription and Retail Individual Investors (RIIs) 54 per cent.
The company’s IPO has a fresh issue of up to Rs 150 crore and an offer of sale of up to Rs 330 crore.
Price range for the IPO is at Rs 555-585 a share.
The company proposes to utilise the net proceeds of the fresh issue for funding working capital requirements and other general corporate purposes.
The shares of the company will be listed on both BSE and NSE.
Aryaman Financial Services is the manager to the offer.
Accenture forecasts fourth-quarter revenue below Wall Street estimates (22-06-2023)
Shares of the company were down 2% in trading before the bell
Sebi rolls out approach for valuation of AIFs for liquidation schemes (22-06-2023)
Markets regulator Sebi on Thursday came out with a standard approach for valuing the investment portfolio of Alternate Investment Funds (AIFs) along with modalities for launching liquidation schemes, a move that will benefit investors.
In addition, all schemes of AIFs will have to be issued in dematerialised (demat) form, the Securities and Exchange Board of India (Sebi) said in three separate circulars.
Existing AIFs with a corpus of more than Rs 500 crore and any new AIFs are required to dematerialise their units by October 31, 2023, and after this, issuance of units will be done in demat form. Other AIFs with a corpus of less than or equal to Rs 500 crore are required to dematerialise their units by April 30 next year.
Under the standardised approach to valuation, Sebi said that portfolio valuation of securities would be carried out as per guidelines endorsed by the AIF industry association.
Presently, AIF Regulations focus on disclosures to investors and do not prescribe any ..