The two-wheeler numbers will need to be monitored closely since low momentum would trigger downgrades for stocks that have moved up in anticipation of outperformance
Posts in category Business Standard
Swiggy gets shareholder nod to use provision to upsize IPO fresh issue (03-10-2024)
Swiggy’s original IPO size eked out NTPC Green Energy’s $1.2 billion public offering filing to be the largest in the country this year
Ongoing West Asia tensions, China resurgence trigger stock market fall (03-10-2024)
Biggest single-day pullout by FPIs; nearly Rs 10 trillion mcap shaved off
Over Rs 9 trillion wiped out as Sensex and Nifty crash over 2% each (03-10-2024)
Tensions in West Asia, FPI selling lead to biggest 1-day fall in 2 months
Indian Oil signs B2B Framework Agreement with Nepal Oil Corporation (03-10-2024)
For development of critical petroleum infrastructure projects in Nepal
GBPUSD slumps over 1% as BoE’s Bailey hints at aggressive rate cuts (03-10-2024)
British pound slumped by over 1% against the dollar to a two-week low on Thursday as BoEs Bailey hinted at more aggressive rate cuts. Pound extended decline for the third consecutive day from a two and half year high and seems to give back further gains amid the dovish remarks. Bank of England (BoE) Governor Andrew Bailey said that there was a chance that the BoE could become a bit more aggressive in cutting rates if there’s further good news on inflation. The latest Bank of England (BoE) Decision Maker Panel (DMP) survey showed on Thursday that one-year ahead expected CPI inflation by the UK firms dropped by another 0.1 percentage points to 2.6% in the quarter to September. This along with geopolitical risks stemming from the ongoing conflicts in the Middle East, supporting the safe-haven USD is adding pressure on the British currency. Currently, GBPUSD is quoting at $1.31, down 1.20% on the day and its lowest level since March 2022.
Sensex tanks 1770 pts, Nifty ends at 25,250.10; L&T slumps over 4% (03-10-2024)
The domestic equity benchmarks suffered a significant downturn on Thursday, with the Nifty50 plunging over 2% in its worst single-day performance in two months. This sharp decline was primarily driven by a confluence of global and domestic factors. All sectoral indices on the NSE closed in the red, with realty, auto, and energy stocks leading the decline.
Broking stocks end mixed after Sebi’s new F&O framework tightening (03-10-2024)
Shares of other listed brokerages fell as investors digested the impact of the stricter trading rules
Hyundai Motor India likely to launch Rs 25,000 crore IPO on Oct 14 (03-10-2024)
Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, is expected to launch its much-awaited Rs 25,000-crore initial share-sale for public subscription on October 14, people familiar with the development said on Thursday.
This would be the largest initial public offering (IPO) in India after LIC’s initial share sale of Rs 21,000 crore.
According to the Draft Red Herring Prospectus (DRHP) filed in June, Hyundai Motor India’s proposed IPO is entirely an Offer-for-Sale (OFS) of 142,194,700 equity shares by promoter Hyundai Motor Company, with no fresh issue component.
Sources had previously stated that the South Korean automaker is looking to raise at least USD 3 billion (about Rs 25,000 crore) through an initial share sale.
This development marks a significant milestone for the Indian industry, as it is the first automaker’s initial share sale in over two decades, following Japanese automaker Maruti Suzuki’s listing in 2003.
The South Korean parent is diluting s
Sebi reduces trading lot size of privately placed InvITs to Rs 25 lakh (03-10-2024)
Markets regulator Sebi has drastically reduced the trading lot size of privately placed infrastructure investment trusts (InvITs) to Rs 25 lakh in a bid to boost investors’ participation and increase liquidity of such investment vehicles.
The current trading lot for secondary market trading for privately placed InvITs is set at Rs 1 crore. Further, if the InvIT invests at least 80 per cent of its asset value in completed and revenue-generating assets, then the trading lot is Rs 2 crore.
“Trading lot for the purpose of trading of units on the designated stock exchange shall be Rs 25 lakh,” Sebi said in its notification dated September 26. The move came into effect the same day.
The move will help increase the liquidity of privately placed InvIT units by permitting a broader base of investors to participate in the market and boost diversification of investment portfolios.
In separate notifications, Sebi has amended its rules on infrastructure investment trusts (InvITs) and real estat