Stocks to watch: From Tata Steel to Bharat Electronics, here are few stocks likely to see action in Monday’s trading session
Posts in category Business Standard
5x in 5 financial years: Mkt share of discount brokers gains stock (27-03-2023)
Held sway over 57% of active clients in 11 months of FY23
Street Signs: 200-day SMA for Nifty Bank, portfolio turnover, and more (27-03-2023)
The gauge for the performance of banking stocks – which also happens to have the highest weighting in the benchmark Nifty50 Index – last closed at 39,395
A tenth of MF folios yet to comply with nomination rules ahead of March 31 (27-03-2023)
As of end-February, total MF accounts was 144 million
FPIs invest nearly Rs 7,200 crore in Indian equities in March so far (26-03-2023)
Excluding this, FPI activity in equities represents a strong selling undercurrent
Markets to track factors in holiday week; may face volatility: Analysts (26-03-2023)
Stock markets may face volatility in a holiday-shortened week ahead amid monthly derivatives expiry, besides global factors and foreign fund trading activity would continue to dictate terms, analysts said.
Factors such as movement of global oil benchmark Brent crude and the rupee would also guide the trend in equities.
Markets would remain closed on Thursday for Ram Navami.
“While volatility may increase locally before the March Futures and Options (F&O) expiry, the position of major international banks will continue to play a significant role in the direction of the market globally.
“The market will also keep an eye on the geopolitical situation because there is still tension between Russia and Ukraine and there is also some tension developing between the US and Syria. But, the market is not paying much attention to this. Due to FIIs’ aggressive selling in recent months, the institutional flow will also be crucial,” said Santosh Meena, Head of Research, Swastika Investmart …
Mutual fund investors get time till March 31 to nominate beneficiary (26-03-2023)
Existing mutual fund investors have time till March 31 to nominate a beneficiary or opt out of it by submitting a declaration form, failing which their folios will be frozen, and they will not be able to redeem investment.
The Securities and Exchange Board of India (Sebi), in its circular on June 15, 2022, made it mandatory for mutual fund subscribers to submit the nomination details or declaration to opt out of the nomination on or after August 1, 2022. Later, the deadline was extended to October 1, 2022.
The deadline for all the existing mutual fund folios, including jointly-held ones, was set as March 31, 2023, failing which the folios will be frozen for debits.
Explaining the rationale behind the Sebi’s move, Anand Rathi Wealth Ltd COO Niranjan Babu Ramayanam said that many investment accounts in the past have been opened without nominating anyone to whom the assets should be transmitted in case something happens to the account holders.
This means that the rightful heirs had ..
Five of top 10-firms lose Rs 86,447 cr in m-cap; Infosys, TCS, SBI hit hard (26-03-2023)
Five of the top 10 most valued firms together lost Rs 86,447.12 crore in market valuation last week, with Infosys, Tata Consultancy Services and State Bank of India taking the biggest hit.
Last week, the BSE benchmark fell 462.8 points or 0.79 per cent.
While Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India suffered erosion from their valuation, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC and Bharti Airtel posted gains.
The market capitalisation (mcap) of Infosys tumbled by Rs 25,217.2 crore to Rs 5,72,687.97 crore.
The valuation of State Bank of India fell Rs 21,062.08 crore to Rs 4,51,228.38 crore, and that of TCS tanked Rs 21,039.55 crore to Rs 11,42,154.59 crore.
The mcap of Reliance Industries declined by Rs 13,226.53 crore to Rs 14,90,775.40 crore, and HDFC Bank dipped Rs 5,901.76 crore to Rs 8,71,416.33 crore.
However, ICICI Bank added Rs 10,905.18 crore, taking its valuation to Rs 5,94,888.25 crore.
The valuat
Electronic firm Avalon Technologies to launch its Rs 865-cr IPO on April 3 (25-03-2023)
The Rs 865 crore initial share sale of electronic manufacturing services firm Avalon Technologies will open for public subscription on April 3.
The three-day initial public offering (IPO) will close on April 6, and the bidding for anchor investors will open on March 31, according to the red herring prospectus (RHP).
The company has cut the size of its IPO to Rs 865 crore from Rs 1,025 crore planned earlier.
Now, it plans to mobilise Rs 320 crore from fresh issuance of equity shares and Rs 545 crore through an offer for sale (OFS) of shares by promoters and existing shareholders.
Proceeds from the fresh issue would be used towards debt payment, funding working capital requirements and general corporate purposes.
In January, the company received capital markets regulator Sebi’s go-ahead to float the IPO.
Founded in 1999, Avalon is an end-to-end electronic manufacturing service solutions provider and counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Mala
Campus Activewear shares tank 9% after TPG sold entire 7.62% stake (24-03-2023)
Among the buyers were Fidelity and Societe Generale. Shares of the shoe manufacturer closed at Rs 338 on the NSE, where Rs 1,229 crore shares changed hands