The potential escalation of the conflict has countered mounting demand-side pressures, said Priyanka Sachdeva, analyst at Phillip Nova
Posts in category Business Standard
Suraksha Diagnostic gets Sebi’s go ahead to raise funds through IPO (07-10-2024)
Integrated diagnostic chain Suraksha Diagnostic Ltd has received Sebi’s go ahead to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday.
The Kolkata-headquartered company’s proposed IPO consists of an Offer-for-Sale (OFS) of up to 1.92 crore equity shares by promoters and investor shareholders, with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP).
Under the OFS, promoters — Somnath Chatterjee, Ritu Mittal, Satish Kumar Verma and investors — OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal will offload shares.
The company, which had filed preliminary IPO papers in July, obtained the regulator’s observation on September 30, the update showed.
In Sebi’s parlance, obtaining its observations means the regulator’s go ahead to float the public issue.
As per the draft papers, the company will not receive any proceeds and all the funds will go to the selling shareholders as
Geopolitical worries, FII outflows wreck market, Nifty ends below 24,800 (07-10-2024)
The key equity benchmarks extended their losing streak for the sixth consecutive session on Monday, as concerns over FIIs outflows and global geopolitical tensions weighed on investor sentiment. The broader market took a significant beating, with midcap and smallcap indices underperforming sharply. The Q2 earnings season is also approaching, with IT majors set to report results this week. Meanwhile, the RBI’s monetary policy meeting began today, further dampening investor sentiment. The Nifty closed below the 24,800 level after hitting the days high of 25,143 in early trade. IT shares bucked the broader sell off. PSU banks, energy and metal shares tumbled.
SAT stays Sebi order barring Omaxe, others from securities market for 2 yrs (07-10-2024)
The Securities Appellate Tribunal (SAT) has stayed a Sebi order that barred realty firm Omaxe, its Chairman Rohtas Goel, Managing Director Mohit Goel and others from the securities market for two years for misrepresentation in the company’s financial statements.
The latest order came after Omaxe and others challenged the order passed by the Securities and Exchange Board of India (Sebi) on July 30.
In its ruling on October 1, the appellate tribunal said, “direction at paragraphs No. 41(1) and (2) shall remain stayed, subject to deposit of penalty amount by the appellant within four weeks”.
Paragraphs No 41(1) and (2) pertain to securities market ban and prohibition from holding any position as key managerial personnel of any other listed company imposed on individuals by Sebi.
Sebi, in its ruling, restrained Omaxe, Rohtas Goel, Mohit Goel and three others — Sudhangshu S Biswal, Arun Kumar Pandey, and Vimal Gupta — from the securities markets for two years.
Additionally, these fiv
Pound speculators net long positions rise further (07-10-2024)
Large currency speculators further increased net long position in the Pound futures, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Pound futures, traded by large speculators and hedge funds, totaled a net long position of 93765 contracts in the data reported through October 01, 2024. This was a weekly increase of 6773 net contracts.
Euro net long speculative positions ease near 2 week low (07-10-2024)
Large currency speculators in the Euro futures market slipped back to a near two week low, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC). The non-commercial futures contracts of Euro futures, traded by large speculators and hedge funds, totaled a net long position of 55327 contracts in the data reported through October 01, 2024. This was a weekly fall of 16371 net long contracts.
Hero Motors withdraws DRHP documents for raising Rs 900 crore through IPO (07-10-2024)
Hero Motors Ltd, the auto-components firm of the Hero Motors Company (HMC) Group, has withdrawn its documents for an initial public offering (IPO) worth Rs 900 crore, an update with markets regulator Sebi showed on Monday.
In its draft papers, the company had proposed to raise Rs 500 crore through a fresh issuance of equity shares and an offer for sale (OFS) of shares valued at Rs 400 crore by promoters.
Under the OFS, O P Munjal Holdings was offloading shares valued at Rs 250 crore while Bhagyoday Investments and Hero Cycles were selling shares to the tune of Rs 75 crore each.
It had filed its draft red herring prospectus (DRHP) in August with Sebi to seek the regulator’s nod to float IPO.
Without disclosing the reason, the company said its “DRHP (was) withdrawn on October 5, 2024”.
Going by the draft papers, proceeds from the fresh issue was proposed to be used for debt payment and purchase of equipment required for expansion in the capacity of the company’s facility in Gautam
Nifty October futures trade at premium (07-10-2024)
NSE India VIX jumped 6.74% to 15.08.
MTNL hits the floor after SBI declares term loan account as NPA (07-10-2024)
Mahanagar Telephone Nigam (MTNL) was locked in an lower circuit of 5% to Rs 52.14 after the State Bank of India (SBI) downgraded the company’s term loan account to a non-performing asset (NPA) due to non-payment of dues.
Gold prices rise Rs 250 to hit fresh all-time high of Rs 78,700 per 10g (07-10-2024)
The precious metal had settled at Rs 78,450 per 10 grams in the previous close on Friday