HImFasHIon: 2023-03-05

Saturday 11 March 2023

Eight of top-10 firms lose Rs 1.03 trn in market-cap; RIL, ICICI hit hard

Eight of the top 10 valued firms faced a combined erosion of Rs 1,03,732.39 crore in market valuation last week, with Reliance Industries and ICICI Bank taking the biggest hit amid an overall weak trend in equities. During the holiday-shortened week, the 30-share BSE Sensex declined 673.84 points or 1.12 per cent amid concerns over the quantum of the next interest rate hike by the US Federal Reserve. Barring Bharti Airtel and ITC, eight firms suffered erosion from their market capitalisation (mcap). The market valuation of Reliance Industries plummeted by Rs 41,878.37 crore to Rs 15,71,724.26 crore, the most among the top 10 firms. The mcap of ICICI Bank tumbled Rs 18,134.73 to Rs 5,88,379.98 crore. The valuation of HDFC Bank tanked by Rs 15,007.38 to Rs 8,86,300.20 crore, and that of State Bank of India eroded by Rs 12,360.59 to Rs 4,88,399.39 crore. HDFC's market valuation diminished by Rs 6,893.18 crore to Rs 4,77,524.24 crore. Tata Consultancy Services' (TCS) valuation slump

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Sebi resolves 2,672 complaints through SCORES platform in February

A total of 2,672 complaints against companies and market intermediaries received through capital markets regulator Sebi's SCORES platform were disposed of in February, according to Sebi data. At the beginning of February, as many as 2,603 complaints were pending and 2,321 fresh complaints were received during the month, the data released by Sebi on Friday showed. These complaints were related to refunds, allotment, redemption and interest, among others. The regulator noted that there were seven complaints as of February 2023, which were pending for more than three months. These complaints were related to research analyst, investment adviser, corporate governance/ listing conditions, non-demat, remat and transfer/dividend/rights/redemption. The average resolution time for a complaint is 30 days, it added. In a separate public notice, Sebi mentioned six entities against whom complaints have been pending for more than three months on SCORES as of February 2023. These are Grovalue ..

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Friday 10 March 2023

Gold price rises by Rs 540 to Rs 56,070, silver price falls Rs 200

The price of ten grams of 22-carat gold declined Rs 500 to Rs 51,400

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Troubled Silicon Valley startup bank spooks share markets, bonds rally

MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.3% to a two-month low, with banks and Hong Kong tech stocks leading losses, while London and European futures each slid more than 1%

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Indices tumble on US bank shares sell-off; Sensex declines 671 points

SVB crisis, Fed rate hike fears continue to keep markets on the edge

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Thursday 9 March 2023

Tata Tech IPO: After 2 decades a Tata group firm will test public markets

Engineering services company files DRHP; seeks to raise Rs 4,000 cr

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Titagarh Wagons hits new high; zooms 65% in 6 months on healthy outlook

On March 1, the consortium of Titagarh Wagons and Bharat Electricals (TWL-BHEL Consortium) emerges as the 2nd Lowest Bidder (L2) for manufacturing cum maintenance of Vande Bharat Trainsets.

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Gold, silver prices remain unchanged, yellow metal selling at Rs 55,530

The price of ten grams of 24 carat gold in Delhi, Bengaluru, and Chennai is Rs 55,680, Rs 55,580, and Rs 56,250, respectively

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Charts signal bearish trend for Nifty Pharma in near-term: Ravi Nathani

According to the technical analyst, traders must adopt 'sell-on-rise' strategy for Nifty Pharma, Nifty Energy, and Nifty Midcap 100 indices

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Silvergate plans to wind down bank ops, liquidate after crypto metldown

Silvergate collapsed amid scrutiny from regulators and a criminal investigation by the Justice Department's fraud unit into dealings with fallen crypto giants FTX and Alameda Research

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Treasury yield curve inverts: What it means and what does it signal?

Yield curve inversion suggests that the market is becoming more pessimistic about the economic prospects for the near future

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Wednesday 8 March 2023

SeQuent Scientific rallies 15% on terminating pact to acquire Tineta Pharma

In November 2022, SeQuent had announced the acquisition of Tineta Pharma for Rs 218 crore but the said transaction has not materialised

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NTPC rallies 7% in 4 days, nears 52-week high on strong growth outlook

Power demand will continue to grow from January to June owing to summer demand

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Gokaldas Exports dips 4% after 13% equity changes hands via block deal

Till 09:23 AM, roughly 8.15 million equity shares, representing 13.5 per cent of the total equity of Gokaldas Exports, had changed hands on the NSE

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Sebi puts restrictions on cos opting share buyback via stock exchange route

Capital markets regulator Sebi on Wednesday imposed restrictions on the placement of bids, price and volume for the companies undertaking share buyback through the stock exchange route. Under the restrictions, a company will not be able to purchase more than 25 per cent of the average daily trading volume (in value) of its shares in the 10 trading days preceding the day in which such purchases are made, Sebi said in a circular. Among others, the company will not place bids in the pre-open market, first 30 minutes and the last 30 minutes of the regular trading session and the firm's purchase order price should be within the range of 1 per cent on either side from the last traded price. Sebi asked companies as well as appointed brokers to ensure compliance with the provisions. The stock exchange will monitor their compliance and in case of any instance of such non-compliance will impose appropriate fines or other enforcement actions as deem fit. Currently, for share buyback, compani

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Sensex extend winning run to 3rd day as financial, energy shares advance

Benchmark Sensex and Nifty closed higher for a third session in a row on Wednesday as fag-end buying in banking, financial and oil stocks helped the indices rebound from early lows amid a bearish trend in global equity markets. Covering-up of short positions by bears supported a late recovery in stocks and helped wipe off losses, traders said. However, a weak rupee against major rivals overseas weighed on market sentiment and restricted gains, they added. In a largely subdued session, the 30-share BSE Sensex ended 123.63 points or 0.21 per cent higher at 60,348.09 as 17 of its constituents gained and 13 declined. The barometer opened lower and stayed negative for most part of the trading session due to losses in Asian markets. Fag-end buying in select index heavyweights helped the index to pare all the losses and settle in the green. During the session, the index touched a high of 60,402.85. The broader NSE Nifty settled higher by 42.95 points or 0.24 per cent at 17,754.40. Nifty

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Tuesday 7 March 2023

Kirloskar Oil Engines surges 18%, hits over 5-yr high after huge block deal

As many as 25.62 million equity shares, representing 17.7 per cent of total equity, worth Rs 825 crore of KOEL changed hands on the NSE, the exchange data shows

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HAL, L&T gain up to 3% as government inks contracts worth Rs 9,900 crore

Hindustan Aeronautics received an order for 70 HTT-40 trainer aircraft worth over Rs 6,800 crore, while L&T bagged a contract worth Rs 3,100 crore for supply of three cadet training ships.

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Adani shares gain up to 5% after Group repays Rs 7,374 cr share-backed loan

So far in the last two months, the Adani Group now have prepaid share-backed financing up to $2,016 mn as part of the promoters' commitment to cut overall leverage.

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Gold prices fall Rs 200, silver prices unchanged at Rs 67,000 per kg

The price of ten grams of 22-carat gold dipped Rs 200 from yesterday's close to Rs 51,650

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Charts show bullish trend for Nifty Private Bank in near-term: Ravi Nathani

According to technical analyst, the Nifty Private Bank index exhibits a bullish trend in the near term, but traders must exercise caution and wait for decisive breakout before taking any new position

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MFs, AMCs get more time to submit applications for empanelment of auditors

Capital markets regulator Sebi on Tuesday extended time till March-end for submission of applications for empanelment of forensic auditors for mutual funds, asset management companies (AMCs) and trustee entities. Earlier, the interested entities were required to submit applications by March 6. "It has been decided to extend the last date for submission of application and the revised date for submission of application is March 31, 2023," the capital markets regulator said in a public notice. On February 11, the Securities and Exchange Board of India (Sebi) had invited applications from eligible firms for empanelment of forensic auditors for MFs, their AMCs and trustee companies. After being empanelled, the auditors would take up assignments related to forensic audit of mutual funds, their AMCs and trustee companies or board of trustees. The applicants are required to undertake acquisition, extraction and analysis of digital evidence from mobile, computers, tablets, hard drives and

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Women account for only 10% of total fund managers in MF industry: Report

Women account for only 10 per cent of the total fund managers in the mutual fund industry despite a gradual increase in their numbers witnessed in the last few years, a report said on Tuesday. The Morningstar Investment Adviser India's annual report on women fund managers in the asset-management industry said the total count of women fund managers has increased from 32 last year to 42 now. Interestingly, the total number of fund managers also saw a healthy increase this year to 428 from 399 last year. "When it comes to gender diversity, the latest findings of our report show that of the 428 fund managers, 42 are women who are managing funds either as primary or secondary managers," said the Morningstar report released ahead of International Women's Day on May 8. With a meagre 9.81 per cent representation, women still remain drastically under-represented among the ranks of mutual fund managers, Morningstar said. According to the report, there were only 18 women fund managers in 201

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Finance, durables stocks see maximum FPI selling in last fortnight of Feb

Outflow from two of India's largest sectors in terms of market cap shows FPIs remain in 'sell' mode: Experts

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Monday 6 March 2023

Stock market holiday: Share market to remain closed due to Holi today

Stock market holiday news: While most people are celebrating Holi on Wednesday, March 8, BSE and NSE have declared a stock market holiday on March 7

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Gold, silver prices remain unchanged, yellow metal trading at Rs 56,550

The price of ten grams of 22-carat gold in Mumbai is at par with that of gold in Kolkata and Hyderabad, at Rs 51,850

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Indian shares extend rally for 2nd time after strong economic data from US

Most of the Adani group stocks advanced, extending gains after U.S. boutique investment firm GQG Partners' $1.87 billion investment in the conglomerate on Thursday

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YES Bank share price flat as SBI's three-year lock-in period ends today

YES Bank's stock is surrounded by a lot of speculations that the SBI may book at least partial profit and it may lead to more pressure on the stock

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Power Grid Corp, NTPC gain 3% each to hit their respective 3-month highs

Power Grid has been declared a successful bidder to establish inter-state transmission system for two projects on build, own operate and transfer (BOOT) basis, in Chhattisgarh.

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