LMEL on March 16, converted and allotted the 0% 60 million OFCD’s in to 60 million equity shares, representing 11.89% in the total voting equity share capital of LMEL to Sunflag Iron.
Posts in category Business Standard
Cochin Shipyard gains 7% in weak market on winning Rs 550 cr overseas order (20-03-2023)
The company has received an order of Rs 550 crore from Norway-based global logistics solution provider Samskip Group.
Stock Market Live: Sensex down 100pts, Nifty below 17,000 in pre-open deals (20-03-2023)
Stock market live updates: As of 8:10 am, the SGX Nifty quoted at 17,063 levels, down 100 points
Stocks to Watch: Tata Consumer, NTPC, RVNL, GMR Airports, Havells, SKF (20-03-2023)
Stocks to Watch: Tata Consumer Products ceased negotiations with Bisleri for a potential acquisition. It said no definitive agreement or binding commitment has been signed on this matter
Charts suggest a pullback is likely for Nifty in near-term: Ravi Nathani (20-03-2023)
According to the technical analyst, the Nifty index exhibits an imminent pullback in the near-term post an oversold disposition
Central banks try to calm markets after UBS deal to buy Credit Suisse (20-03-2023)
Soon after the announcement late on Sunday, the US Federal Reserve, European Central Bank and other major central banks came out with statements to reassure markets
Under attack, NSE clarifies ASM, Nifty inclusion and exclusion stance (19-03-2023)
Bourse says action “non-discretionary, pre-announced”
US Fed meeting, banking crisis to drive equity markets this week: Analysts (19-03-2023)
The trading activity in the domestic equity markets is likely to remain volatile this week as investors will focus on global cues such as the outcome of the US Federal Reserve meeting and the US banking crisis due to lack of local triggers, analysts said.
FII activity and movement in the rupee and oil prices will also be watched by traders as global trends have been dictating the direction of the local stock markets currently, they added.
Benchmark Sensex and Nifty declined by around 2 per cent last despite a recovery in the last two sessions due to selling in financials, IT, auto and banking stocks as fears of contagion of the US banking crisis kept investors on the edge.
The US banking crisis remained at the centre stage keeping the participants on their toes. Besides, the continuous outflow the foreign funds added to worries, analysts said.
“In absence of any major domestic event, the focus would be on the upcoming FOMC meet scheduled on March 21-22. Besides, movement in crude a
Silicon Valley Bank collapse: Banking sector mutual funds lost 6% in a week (19-03-2023)
Banking mutual funds have lost up to 6 per cent in the last week following the collapse of Silicon Valley Bank and Signature Bank that dented investors’ sentiment in the banking and financial services space.
The failure of the two US-based banks sent shockwaves across the global financial system and weakened the sentiments in the banking sector in India too, wherein shares took a beating and declined in the range of 3-13 per cent in the week under review.
However, experts believe that the direct impact on the Indian banking sector was negligible to low.
The incessant selling in the bank stocks is clearly reflected in the banking sector mutual funds, as evident from the short-term performance returns of the 16 schemes under the category.
Of the 16 banking sector mutual funds, all of them have given negative returns to investors in the range of 1.6 per cent to 6 per cent in the week ended March 17, according to an analysis of data compiled by ACE MF Nxt.
So far this year, these fund
FPIs invests Rs 11,500 crore in Indian equities in March thus far (19-03-2023)
Foreign investors have put in Rs 11,500 crore in the Indian equities so far this month, mainly driven by bulk investment from the US-based GQG Partners in the Adani Group companies.
Going ahead, FPIs may take a cautious stance in their approach in the coming days following the collapse of the US-based banks — Silicon Valley Bank and Signature Bank — that dented sentiments in the market, experts said.
According to the data with the depositories, Foreign Portfolio Investors (FPIs) invested Rs 11,495 crore in Indian equities till March 17.
This came after a net outflow of Rs 5,294 crore in February and Rs 28,852 crore in January. Prior to that, FPIs infused a net amount of Rs 11,119 crore in December, data showed.
“This (inflow in March) is inclusive of the bulk investment of Rs 15,446 crore by GQG in the four Adani stocks,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Excluding this, FPI activity in equities represent a strong selling …