BEML Ltd. has recently formed a triple bottom pattern near its 200-day Exponential Moving Average (DEMA), indicating strong support at this level
Posts in category Business Standard
Stock Market LIVE Updates: Sensex up 550 pts, at 81,800, Nifty above 24,950 in pre-open; HDFC gains (21-10-2024)
Stock Market Today: Markets in India were likely headed for a weak start on Monday, indicated GIFT Nifty futures at 7:10 AM
Tube Investments, HDFC Life; top stock picks by Rajesh Bhosale of Angel One (21-10-2024)
HDFC Life had already shown a bullish breakout on the weekly chart but consolidated within a rangedue to subdued market conditions
Market Today: Q2 nos., China lowers lending rates, S&P 500 & Dow at record (21-10-2024)
China lowered its key benchmark lending rates by 25 basis points in the monthly fixing. The People’s Bank of China (PBOC) reduced the 1-year loan prime rate (LPR) to 3.1% and the 5-year LPR to 3.6%
Hyundai’s historic India IPO signals new era for multinational listings (21-10-2024)
Hyundai’s compatriot LG Electronics Inc. is also reported to be preparing for a potential IPO of its Indian unit
Private firm’s three directors convicted for not following Sebi rules (20-10-2024)
A court here has convicted a private company and its three directors in an over 23-year-old case under the SEBI Act and Collective Investment Scheme (CIS) regulations, saying they trapped innocent people by promising them unrealistic returns.
Additional Sessions Judge Vandana Jain was hearing a 2001 case against Kisley Plantation Ltd, a company in East Patel Nagar, and its directors against whom SEBI had registered a case.
According to the Securities and Exchange Board of India, the company was running a CIS and raised an aggregate amount of around Rs 2.43 crore from the general public, without registering with the regulatory body, while promising high returns and fiscal incentives.
In its order dated October 8, the court said, “It has been proved beyond reasonable doubt that accused no.1 (Kisley Plantation) floated Collective Investment Schemes while there was a complete embargo under Section 12 (1B) of SEBI Act to launch any such scheme.”
The section deals with obtaining a mandat
BSE, NSE to conduct one-hour Diwali ‘Muhurat Trading’ on November 1 (20-10-2024)
Leading stock exchanges BSE and NSE will conduct a one-hour special ‘Muhurat Trading’ session on the occasion of Diwali on November 1, marking the start of the new Samvat 2081.
The symbolic trading session will be held between 6 pm and 7 pm, the stock exchanges said in separate circulars.
The session also marks the beginning of a new Samvat — the Hindu calendar year that starts on Diwali — and it is believed that trading during the ‘Muhurat’ or auspicious hour brings prosperity and financial growth for the stakeholders.
The market will remain closed for regular trading on Diwali, but a special trading window will be open for one hour in the evening. The exchanges announced that the pre-opening session will take place from 5:45 pm to 6:00 pm.
Market analysts said that Diwali is considered to be the ideal time to start anything new. Investors are said to benefit from trading during this session all through the year.
Since the trading window is only open for an hour, markets are kn
Mid- and small-cap MFs attract Rs 30,350 cr in H1 FY25 on strong returns (20-10-2024)
Mid-cap and small-cap mutual fund schemes have continued to attract strong investor interest, garnering nearly Rs 30,350 crore in inflows during the April-September period of the current financial year, driven by impressive returns delivered by these segments.
In comparison, the cumulative inflow into mid-cap and small-cap funds stood at Rs 32,924 crore during the same period last year, according to data from the Association of Mutual Funds in India (Amfi).
The inflow trend persists despite concerns raised by market regulator Sebi over heightened inflows into small-cap and mid-cap funds, as experts believe investors will continue to favour these categories for their potential to deliver high returns.
“Small caps will continue to grow at a faster rate for years to come. I expect the inflows to continue as Indians want to invest in the high-growth sectors. Small cap funds should be seen as an integral part of one’s portfolio allocation and not a tactical play,” Trust Mutual Fund CEO .
Dipam directs officers to avoid trading in shares of state-owned firms (20-10-2024)
The Department of Investment and Public Asset Management (DIPAM) has asked its officials to refrain from trading in shares of public sector companies as they may be privy to market-sensitive information with regard to state-owned companies, an official said.
In an internal order, the DIPAM said that any officer joining the department would be required to declare his/her holding in public sector enterprises and such shares could only be liquidated by the official concerned after approval from authorities.
DIPAM, under the Ministry of Finance, manages government equity in public sector companies and is also responsible for undertaking minority stake sale, strategic disinvestment and privatisation.
“DIPAM has issued an internal order saying that officers in the department will not buy or share shares of state-owned companies. The idea behind this is officials in DIPAM may be privy to some information which can be affecting the share prices of companies. It should not be so that they ..
Mcap of 4 of 10 most valued firms jumps Rs 81,151 cr; ICICI Bank top gainer (20-10-2024)
Four of the top-10 most-valued firms together added Rs 81,151.31 crore in market valuation last week, with ICICI Bank and HDFC Bank emerging as the biggest gainers.
Last week, the BSE benchmark declined 156.61 points, or 0.19 per cent.
While HDFC Bank, Bharti Airtel, ICICI Bank, and the State Bank of India were the gainers, Reliance Industries, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, and Life Insurance Corporation of India (LIC) suffered a combined erosion of Rs 76,622.05 crore from their market valuation.
ICICI Bank added Rs 28,495.14 crore, taking its market valuation to Rs 8,90,191.38 crore.
The valuation of HDFC Bank jumped Rs 23,579.11 crore to Rs 12,82,848.30 crore.
State Bank of India’s market valuation climbed Rs 17,804.61 crore to Rs 7,31,773.56 crore and that of Bharti Airtel went up Rs 11,272.45 crore to Rs 9,71,707.61 crore.
On the other hand, the market capitalisation (mcap) of Infosys slumped Rs 23,314.31 crore to Rs 7,80,126.10 crore.
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