In the past six months, the stock has plunged 23 per cent as compared to a 3.4 per cent fall recorded by the Sensex
Posts in category Business Standard
Gold prices rise, silver unchanged; yellow metal trading at Rs 57,220 (14-03-2023)
The price of ten grams of 24 carat gold in Delhi, Bengaluru, and Chennai is Rs 57,370, Rs 57,270, and Rs 58,090, respectively
Ravi Nathani recommends to buy IT, FMCG stocks on dips; Avoid metals (14-03-2023)
With an view to capitalize on a potential technical bounce, the technical analyst advises traders to adopt a buying strategy near the support price.
Stock Market Live: SGX Nifty climbs over 50 pts; All eyes on inflation data (14-03-2023)
Stock market live updates: As of 7:45 am, the SGX Nifty stood at 17,208 levels, up 28-odd points
Stocks to watch: Lupin, GAIL, PNB Housing, Shriram Finance, Axita Cotton (14-03-2023)
Stocks to watch today: From Lupin to Gail (India), here are stocks to watch out in Tuesday’s trading session
Sebi relief for large registrars on enhanced reporting requirements (13-03-2023)
Markets regulator Sebi on Monday provided relaxation of 60 days to large Registrars to an issue/ Share Transfer Agents (RTAs) from complying with the enhanced requirements pertaining to periodic reporting.
Under the rules, QRTAs or qualified RTAs are required to comply with enhanced responsibilities through adoption and implementation of an internal policy framework and periodic reporting requirements.
In a circular, Sebi clarified that an RTA would be categorised as QRTA if at any time during a financial year, the combined number of physical and demat folios being serviced by the RTA for listed companies exceeds 2 crore.
In case of the categorisation as a QRTA, an intimation needs to be sent by the RTA within five working days to Sebi.
Further, it said that an RTA will be considered as a QRTA from the date of categorisation as a QRTA and will be considered as such for the next 3 financial years, irrespective of subsequent fall in number of folios and will be liable to comply with
Market turmoil leaves investors poorer by more than Rs 4.4 trillion (13-03-2023)
Domestic equity investors’ wealth eroded by more than Rs 4.43 lakh crore on Monday as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments.
After a strong opening, Indian stocks went into a tailspin with the benchmark 30-share BSE Sensex tumbling nearly 900 points to close at 58,237.85 points — sliding for the third straight trading session.
The NSE Nifty too declined 258.60 points to end at 17,154.30 points.
Reflecting the massive sell-off across sectors, the total market valuation of BSE-listed companies stood at Rs 2,58,56,295.60, leaving investors poorer by Rs 4,43,023.89 compared to the closing level on Friday.
The total market valuation was at Rs 2,62,99,319.49 at the end of trading on Friday, when the key index had crashed more than 670 points.
Out of the 3,757 stocks that traded on the BSE, as many as 2,915 closed in the red while 695 managed gains.
A total of 219 stocks touched their 52-week low while 75 reached
PNB Housing Finance’s Rs 2,500 crore rights issue gets Sebi’s nod (13-03-2023)
PNB Housing Finance, an arm of state-owned Punjab National Bank, has received capital markets regulator Sebi’s go ahead to raise up to Rs 2,500 crore through rights issue of shares.
The housing finance firm, which had filed draft papers with Sebi in December 2022 regarding the rights issue, obtained its ‘observations’ on March 6, which is necessary for any company to launch the issue, an update the markets regulator showed on Monday.
Going by the draft papers, PNB Housing will issue fully paid-up equity shares of the company by way of a rights issue to its existing shareholders for an amount not exceeding Rs 2,500 crore.
The company intends to utilise the net proceeds from the issue towards augmenting its capital base.
Post the rights issue, the shareholding of Punjab National Bank (PNB) as a promoter of the company would come down from the current level of 32.53 per cent to below 30 per cent but it would be higher than 26 per cent so that the bank retains promoter status.
In Marc
SBI MF’s dividend yield fund collects over Rs 3,600 crore during NFO (13-03-2023)
NFO receives around 123,000 applications from over 70% of pincodes in India, the fund house says
SVB collapse continues to drag markets; Sensex, Nifty hit 5-month lows (13-03-2023)
Investors spooked even as regulators try to limit damage; Safe-haven assets gain