Support levels are crucial in this corrective phase, and for the Nifty FMCG Index, key support levels are identified at 61,180 and 59,500.
Posts in category Business Standard
Value fashion retailer Baazar Style raises Rs 250 cr from anchor investors (29-08-2024)
Value fashion retailer Baazar Style Retail Ltd on Thursday said it has collected Rs 250 crore from anchor investors, a day before its initial share-sale opening for public subscription.
Ashoka India Equity Investment Trust Plc, Volrado Venture Partners Fund IV Gamma, HSBC Global Investment Funds, Allianz Global Investors Fund, Al Mehwar Commercial Investments LLC, HDFC Mutual Fund (MF), HSBC MF, Bandhan MF and Bajaj Allianz Life Insurance Company are among the anchor investors, according to a circular uploaded on the BSE website.
The company has allotted 64.29 lakh equity shares to 28 funds at Rs 389 apiece, aggregating the transaction size to Rs 250.1 crore, the data showed.
The Rs 835-crore initial public offering (IPO) will open for subscription on August 30 and conclude on September 3. The price band has been fixed at Rs 370-389 per share.
The proposed IPO is a combination of a fresh issue of equity shares worth Rs 148 crore and an offer for sale (OFS) of up to 1.76 crore value
Sebi proposes mandatory maintenance of communication record for eight yrs (29-08-2024)
Markets regulator Sebi on Thursday proposed to make it mandatory for all entities regulated by it to maintain communication records, including acknowledgements, for at least eight years.
The move is aimed at improving regulatory compliance, increase transparency, protect investors’ interest and boost their confidence in the securities market.
In its consultation paper, the regulator suggested that all entities regulated by it should maintain records of all required communications, including acknowledgements, for at least eight years as per their governing regulations.
These records must be made available to Sebi upon request, ensuring transparency and accountability.
The Securities and Exchange Board of India (Sebi) has sought comments on the consultation paper till September 13.
Under the current regulatory regime, Sebi-regulated entities are mandated to communicate various types of information to numerous stakeholders. This enables a regular and timely disbursal of information t
ITI Mutual Fund projects to reach Rs 1 trn AUM in next five years (29-08-2024)
ITI Mutual Fund aims to reach Rs 1 lakh crore AUM in the next five years, as an increasing number of people are choosing mutual funds through systematic investment plans.
ITI MF’s asset under management (AUM) increased nearly 2.4 times to Rs 8,791 crore in July 2024 from Rs 3,698 crore in March 2023.
Mayukh Datta, chief business officer of the AMC, said the mutual fund industry has about 4.80 crore unique PAN investors. It currently has 9.34 crore live SIP accounts with Rs 13.09 lakh crore in the AUM.
He further said that as of March 31, 2024, there were 74.67 crore PAN holders in India, and 60.5 crore PAN were Aadhaar-linked.
“So, we are yet to have 10 per cent of the investible population, i.e. PAN card holders, yet to come to the mutual funds universe. There is enough of runway for new investors to enter the mutual fund industry,” Datta said in an interaction with PTI.
He further said India remains in a golden spot on the world map, with expected growth outpacing most global ..
RBI allows foreign investors in IFSC to invest in sovereign green bonds (29-08-2024)
The Reserve Bank on Thursday introduced a scheme to permit foreign investors in the International Financial Services Centre (IFSC) to invest in sovereign green bonds to facilitate wider non-resident participation in such instruments.
The government issued sovereign green bonds (SGrBs) in January 2023.
SGrBs were also issued as part of the government borrowing calendar in FY2023-24.
At present, foreign portfolio investors (FPIs) registered with Sebi are permitted to invest in SGrBs under the different routes available for investment by FPIs in government securities.
Earlier in April, the Reserve Bank announced the plan — Scheme for Trading and Settlement of Sovereign Green Bonds in the International Financial Services Centre in India — to facilitate wider non-resident participation in SGrBs.
On Thursday, the RBI issued a circular permitting eligible foreign investors in the International Financial Services Centre (IFSC) to invest in such bonds.
“The scheme shall apply to investm
Ecos Mobility IPO gets subscribed 9.55 times on second day of offer (29-08-2024)
The initial public offer of chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality received 9.55 times subscription on the second day of bidding on Thursday.
The Rs 601 crore initial share sale received bids for 12,03,58,964 shares against 1,26,00,000 shares on offer, as per NSE data.
The portion for non-institutional investors garnered 23.47 times subscription while the quota for Retail Individual Investors (RIIs) got subscribed 8.99 times. The category for Qualified Institutional Buyers (QIBs) received 10 per cent subscription.
The Initial Public Offer (IPO) of Ecos (India) Mobility & Hospitality got fully subscribed on the first day of bidding on Wednesday.
The initial share sale is entirely an Offer For Sale (OFS) of up to 1,80,00,000 equity shares.
The IPO has a price range of Rs 318-334 a share.
Ecos (India) Mobility & Hospitality Ltd on Tuesday said it has raised Rs 180.36 crore from anchor investors.
Since the public issue is entirely an OFS, the …
Pricing weakness likely to weigh on Indian steel companies stocks (29-08-2024)
In Q1FY25, Tata Steel and JSW Steel posted flat operating profit margins as higher volumes and lower input prices compensated for low steel prices
From Oct, FPIs may get funds on the day of settlement: Ananth Narayan (29-08-2024)
Rs 1 trillion float lying with custodians may reduce with faster remittance
Sebi mulls proposals on PIDs’ appointment process at key institutions (29-08-2024)
Sebi on Thursday came out with proposals connected with the process adopted by the markets regulator for the appointment of public interest directors (PIDs) on stock exchanges, clearing corporations and depositories, in a move aimed at improving shareholders’ participation in the process.
For improving ease of doing business for PIDs, the proposals include easing documentation requirements when being considered for PID appointment, allowing payment of fixed stipend to them in addition to sitting fees, and reducing cooling off period for their appointment.
“The role of PIDs is vital in enhancing corporate integrity and governance standards in any market infrastructure institutions (MIIs). PIDs, especially, play a vital role in balancing the interests of MII’s management, its shareholders and more importantly ensuring the safety, efficiency and integrity for the market participants using the infrastructure of these MIIs.
“PIDs ensure that in pursuance of their business objectives, MII
RIL boosts shares to record, Nifty logs longest gaining streak in 17 yrs (29-08-2024)
The NSE Nifty 50 and the S&P BSE Sensex both rose about 0.6% to hit all-time highs, before trimming some gains to settle up 0.4% at record closing levels