Mcap of top valued firms erodes by Rs 70,487 cr; RIL, TCS biggest laggards

Six of the 10 most valued firms faced a combined erosion of Rs 70,486.95 crore in their market valuation last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit following a weak trend in equities. While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers. Last week, the BSE Sensex declined 298.22 points or 0.48 per cent. "Markets took a breather last week and shed half a per cent amid mixed cues. The beginning was upbeat, however, profit-taking in heavyweights across sectors pushed the index lower in the following sessions," Ajit Mishra, VP - Technical Research at Religare Broking Ltd, said. Among major losers, the market valuation of Reliance Industries fell by Rs 27,941.49 crore to Rs 16,52,702.63 crore and that of TCS eroded by Rs 19,027.06 crore to Rs 11,78,854.88 crore. HDFC Bank's valuation declined by Rs

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Centre likely to push ECGC IPO to next year amid global uncertainties

The ongoing Russia-Ukraine war and tightening of monetary policy by important central banks internationally are expected to adversely impact the valuation of ECGC if the IPO is launched now

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Onus of preventing front running, insider trading to fall on AMCs

Sebi proposal wants AMCs to design internal systems to identify misconduct of employees

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Market regulator Sebi plans to shorten IPO listing timeline to three days

Currently, listing happens after six days from the closure of IPO

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Sebi asks AMCs to set up control systems to identify market manipulation

Capital markets regulator Sebi on Saturday proposed that asset management companies (AMCs) set up surveillance and internal control systems for the deterrence of possible market abuse and fraudulent transactions. It further suggested that senior management of AMCs should be responsible to ensure that an institutional mechanism is put in place to detect and report possible misconduct by its employees, dealers, stock brokers or any other connected entities. Further, AMCs should have appropriate escalation and reporting mechanism for possible market abuse and fraudulent transactions in securities related to the AMCs' transactions, Sebi said in its consultation paper. This comes in the wake of Sebi passing orders in two instances of front-running pertaining to Axis AMC and Life Insurance Corporation of India (LIC). In the Axis AMC case, broker- dealers, certain employees and connected entities were found to have front-run the trades of the AMC and in the case of LIC, an employee of a .

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Rs 2,000 note withdrawal: It'll be business as usual for mkts, say analysts

The RBI on Friday announced the withdrawal of the Rs 2,000 currency note, citing its 'Clean Note Policy'

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Gold price falls Rs 330 to Rs 60,870, silver dips Rs 200 to Rs 74,300

The price of ten grams of 22-carat gold fell Rs 300 to Rs 55,800

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Sebi seeks to revamp investor grievance redressal process to strengthen it

Capital markets regulator Sebi on Friday came out with a proposal to strengthen the investor grievance handling process through the SCORES system and integrate the same with the online dispute resolution mechanism. In addition, the regulator is looking to review the qualified institutional buyer (QIB) status of alternative investment funds (AIFs), venture capital funds (VCFs) and foreign venture capital investors (FVCIs). The Securities and Exchange Board of India (Sebi) has sought comments from public on the proposals pertaining to QIB status by June 1 and investor grievance mechanism by June 3, according to two separate consultation papers. Under the proposal, the regulator has suggested to revamp the investor grievance handling mechanism through SEBI Complaint Redressal System (SCORES) and integrate the same with the online dispute resolution (ODR) mechanism which was recently approved by Sebi. SCORES was launched in June 2011 to enable investors to lodge and follow up their .

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Sebi proposes measures to boost liquidity in corporate bond market

With an aim to boost liquidity in the secondary market for corporate bonds, markets regulator Sebi on Friday came out with a proposal for enabling direct participation by clients in the tri-party repo segment for corporate bonds. The proposal will facilitate direct participation in repo transactions in corporate bonds by entities which cannot take direct membership of the stock exchange, clearing corporation such as NBFCs, insurance companies, mutual funds, etc. In its consultation paper, Sebi has suggested for facilitating transactions directly between clients and the Limited Purpose Clearing Corporation (LPCC) in the tri-party repo segment as well as to enabling contribution by such clients directly to the Core SGF (Settlement Guarantee Fund). "In order to strengthen the risk management system of the LPCC to meet the contingencies arising on account of possible failure of the clients/ participants as well, it is essential that the contribution to the Core SGF can also be made by .

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Stocks to Watch today, May 19: ITC, Thomas Cook, Zomato, Nexus REIT, IndiGo

Stocks to Watch on Friday: ITC Limited reported a 21.4 per cent YoY growth in standalone net profit at Rs 5,086.9 crore for the March quarter

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Sell Nifty Energy, Commodities indices on rise, suggest charts

According to Ravi Nathani, an independent technical analyst, the Nifty Energy index can dip towards the 23,000 level, while Commodities index could test 5,605 on the downside.

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AU Small Finance Bank joins Rs 50,000 cr m-cap club as stock hits new high

At 12:11 pm; the stock was up 2.8 per cent at Rs 752.15, with a market capitalisation of Rs 50,154 crore, the BSE data shows.

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Stock of this capital goods company has zoomed over 100% since April

The Finance Minister's latest Budget for FY 2023-24 has laid emphasis on government commitment to move towards net zero carbon emission by 2070

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Jindal Saw hits new high on strong Q4 results; zooms 91% thus far in 2023

Jindal Saw's board has also approved, in-principle, to dispose-off its subsidiary Green Ray Holdings Limited, UK along with its step down subsidiary, Derwent Sand SARL, Algeri

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Jubilant FoodWorks dips 5% on disappointing March quarter results

The company's sales growth during the quarter, led by footprint addition, but weak like-for-like (LFL), down 0.6 per cent, led to a decline in Ebitda and net profit.

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Stocks to Watch today, May 18: HDFC Bk, Vedant Fashions, MM Forgings, NDTV

Stocks to Watch on Thursday: JK Tyre's net profit surged to Rs 111.56 crore in Q4FY23 from Rs 38.22 crore reported last year

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Nifty Pharma likely to remain bearish in near-term; can dip below 12,000

Meanwhile, charts suggest that Nifty Realty and Media indices are experiencing a phase of consolidation says Ravi Nathani, an independent technical analyst.

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CreditAccess Grameen surges 9%, hits new high on strong Q4 earnings

For FY24, the management has said that the company is sanguine to achieve a growth of 24%-25% in the gross loan portfolio, NIMs of 12%-12.2% with a steady state credit cost of 1.6%-1.8%

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Bharti Airtel trades firm, up 1% post March quarter results

Strong 4G and postpaid subscriber additions along with healthy FCF generation were the key highlights in Q4.

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Care Ratings, Equitas SFB form bullish patterns on charts; time to buy?

On the broader market outlook, Vinay Rajani the technical & derivative analyst says that the key support for Nifty stands at 18,200.

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Sebi offers rights to unitholders of REITs, InvITs for corporate governance

With an aim to strengthen governance norms, markets regulator Sebi on Tuesday proposed special rights to unitholders of REITs and InvITs by providing the right to nominate representative on the boards. Also, the regulator has suggested the concept of self-sponsored real estate investment trust (REIT) or infrastructure investment trust ( InvIT), according to a consultation paper. In addition, Sebi has proposed that principles of stewardship code should be applicable to members, nominated by the unitholders, on the board of directors of investment manager of REIT and InvIT. The proposed move would empower unitholders of REITs and InvITs to monitor their investment in REIT/InvIT and assist in decision making. The Securities and Exchange Board of India (Sebi) has sought public comments on the proposals till May 29. REITs and InvITs were introduced in India to provide investors with an opportunity to gain exposure to real estate and infrastructure projects respectively, with ...

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SGX Nifty will be renamed as GIFT Nifty from July 3, confirms NSE

On April 17, SGX had issued a circular on migrating all Nifty positions to NSE IFSC

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HDFC, HDFC Bank turn ex-date for dividend; shares fall up to 2%

HDFC had declared a dividend of Rs 44 per share, whereas HDFC Bank had announced a dividend of Rs 19 per share.

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PVR Inox hits 52-week low; down 4% as Q4 net loss widens to Rs 333 cr

The management believes that the two major factors that marred the industry in FY23 - underperformance of Hindi films and less number of Hollywood releases, will both ease out in FY24.

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Sell Nifty Private Bank, Financial Service indices on rise, suggest charts

According to Ravi Nathani, an independent technical analyst, the charts are indicating a likely range-bound trade on the Nifty PSU Bank index.

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Nifty Private Bank, Financial Serivce Outlook: Look to sell on rise

According to Ravi Nathani, an independent technical analyst, the charts are indicating a likely range-bound trade on the Nifty PSU Bank index.

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US investors eye gold, treasuries, Bitcoin as debt-limit default risk peaks

Traditional haven currencies like the Japanese yen and the Swiss franc had some fans, but each were less popular than the US dollar or, perhaps more strikingly Bitcoin

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BSE relaunches Sensex, Bankex derivatives contracts to boost trading

BSE on Monday relaunched Sensex and Bankex derivative contracts in its bid to boost derivative trading at the country's premier bourse. The relaunch of derivative contracts comes with a reduced lot size of futures and options and a new expiry cycle of Friday from Thursday earlier, BSE said. The relaunch evoked a good response from market participants. Nearly 100 members participated in trading with a total turnover of Rs 53.12 crores with an open interest of 252 lots, the BSE said in a statement. Derivatives are considered to be high-risk-reward financial instruments aimed at hedging risk in the equity market. BSE had launched Sensex-30 derivatives (options and futures) for the first time in 2000. The Sensex-30 derivatives are made up of 30 of the largest and most actively traded companies on BSE. "We are relaunching two contracts Sensex and Bankex. Sensex is a well known benchmark and a barometer of India's economy. It has good performance and a good volatility profile, BSE Manag

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Lupin extends gain, hits 52-wk high post Q4 results; surges 20% in 1 month

Analysts believe the stock is factoring margin recovery and certain niche launches in the US.

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DLF rallies 5%; hits multi-year high on healthy March quarter results

The company reported 40 per cent YoY growth in consolidated net profit at Rs 581 crore for the January-March quarter, driven by strong margins and revenue mix.

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Tata Motors surges 4%, hits over 6-year high on strong Q4 earnings

On FY24 outlook, Tata Motors said it remains optimistic on demand despite near term uncertainties while anticipating moderate inflation.

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Short-term trend remains bullish for Nifty; resistance likely around 18,500

According to Ravi Nathani, an independent technical analyst, one can look to 'Book Profits on rise' as the Nifty 50 index is expected to face resistance in the 18,450 - 18,500 range.

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Improving JLR outlook, margin expansion targets positives for Tata Motors

Margin expansion targets for all units, debt reduction are other positives

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Sebi proposes delisting mechanism for non-convertible debt securities

Capital markets regulator Sebi has proposed a mechanism for the voluntary delisting of non-convertible debt securities. Under the mechanism, an entity should not be permitted to delist a few non-convertible debt securities while other non-convertible debt securities continue to remain listed. Accordingly, the proposed mechanism would apply to the voluntary delisting of all listed non-convertible debt securities from all or any of the recognised stock exchanges. The proposed mechanism would not be applicable to the delisting of non-convertible debt securities of a listed entity that have been delisted by the stock exchanges as a consequence of any penalty or delisted under a resolution plan approved under the IBC. Notwithstanding this, a listed entity that has more than 200 non-QIB (qualified institutional buyers) holders in any ISIN (International Securities Identification Number) relating to listed non-convertible debt securities, should not be able to voluntarily delist any of it

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Sebi moots norms for fractional ownership platforms offering real estate

Capital markets watchdog Sebi has floated a consultation paper for regulating all web-based platforms offering fractional ownership of real estate assets to protect small investors. Such fractional ownership of real estate assets is proposed to be brought as Micro, Small and Medium REITs under Sebi's Real Estate Investment Trusts rules. The proposed regulatory framework would help develop the real estate market, provide investor protection measures and lead to an orderly development of this sector and the market, Sebi said in its consultation paper. Typically, fractional investment of real estate through fractional ownership platforms (FOPs) is an investing strategy in which the cost of acquisition of real estate is split among several investors, who invest in securities issued by a special purpose vehicle (SPV) established by an FOP. Such SPVs purchase real estate assets. FOPs allow investors to own a certain percentage or fractional share in the real estate asset through the ...

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