$7.5 bn derivative trade shifts to India as SGX feud comes to end

SGX Nifty, the Singapore Exchange Ltd.-traded futures on India's key equity NSE Nifty 50 Index, will be known as GIFT Nifty from July 3, and all outstanding orders will be transferred to the GIFT City

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Muthoot Microfin files preliminary papers with Sebi for Rs 1350 cr IPO

Muthoot Microfin plans to raise up to Rs 1,350 crore through an initial share sale and has filed draft papers with markets regulator Sebi. The Initial Public Offering (IPO) of the company that provides micro loans to women customers will comprise a fresh issue worth up to Rs 950 crore and an Offer For Sale (OFS) of equities to the tune of Rs 400 crore. According to the Draft Red Herring Prospectus (DRHP) filed on Friday, the company will also look at pre-IPO placement to raise Rs 190 crore. If that placement is undertaken, the size of the fresh issue will be reduced. The company plans to use proceeds from the fresh issue for augmenting its capital base to meet future capital requirements. Through the OFS route, various entities plan to offload Rs 400 crore-worth shares. While Greater Pacific Capital WIV Ltd proposes to offload equities worth up to Rs 100 crore, Thomas John Muthoot, Thomas Muthoot and Thomas George Muthoot plan to sell shares aggregating up to Rs 70 crore ...

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Sebi penalises promoter entity of ZEEL for certain disclosure lapses

Sebi has penalised Cyquator Media Services, a promoter entity of ZEE Entertainment Enterprises Ltd (ZEEL), for certain disclosure lapses. A fine of Rs 4 lakh has been imposed on Cyquator for failing to make adequate disclosures regarding certain trades in shares of ZEEL. The regulator had conducted an examination of trading in ZEEL shares by the entity to ascertain any possible violations of insider trading norms during the period from January 1 to December 26, 2019. "It was observed that the noticee (Cyquator Media Services) being a promoter has made delayed disclosure with respect to creation of pledge and also failed/made delayed disclosures w.r.t. invocation and sale of pledge to ZEEL and exchanges," Sebi said in an order passed on Friday. A show cause notice was issued to the noticee, which submitted its reply. The noticee contended that failure to make disclosures within the stipulated time, was unintentional, technical or inadvertent and that no gain or unfair advantage has

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Gold price rises Rs 100 to Rs 58850 silver falls Rs 500 to Rs 71400

The price of 22-carat gold increased by Rs 100 to Rs 53,950

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ideaForge Technology IPO subscribed 106x; Cyient booked 67x on final day

Market players said the high demand was on optimism that both the issues will generate a huge listing day pop

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Sebi tweaks framework for upstreaming of client funds by brokers

Markets regulator Sebi on Friday tweaked the framework pertaining to upstreaming of all client funds received by stock brokers and clearing members to clearing corporations. The modifications have been made following representations received from various stakeholders, including Market Infrastructure Institutions (MIIs) and stock brokers, saying that changes to the systems are still under progress, and that there are certain practical difficulties in implementation of the proposed framework. Under the framework which was issued earlier this month, no clients' funds would be retained by stock brokers on an End of Day (EoD) basis. Further, clients' funds will be upstreamed by stock brokers and clearing members to clearing corporations only in the form of either cash, lien on Fixed Deposit Receipt (FDR) or pledge of units of mutual fund overnight schemes, In a circular on Friday, Sebi said stock brokers/ clearing members (SBs/CMs) may receive funds from clients beyond the prescribed

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63 Moons zooms 52% in 5 days as MCX extends support service for 6 months

Meanwhile, shares of MCX slipped 12 per cent to Rs 1,437 on the BSE.

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AMCs rally up to 11% as SEBI defers decision to rationalise TER for MFs

Among individual stocks, HDFC AMC was locked at the temporary 10 per cent upper limit; Nippon Life India AMC surged 11 per cent in Friday's intra-day trade.

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Gold price falls Rs 210 to Rs 58750 silver unchanged at Rs 71900

The price of 22-carat gold dipped Rs 200 to Rs 53,850

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Key levels on Nifty Metal Pharma Energy indices to help plan your trade

According to Ravi Nathani, an independent technical analyst, the outlook for Nifty Metal, Energy and Pharma indices is bullish and hence recommends to buy at CMP or on dips.

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Sebi may bar mkt intermediaries from associating with errant finfluencers

We have no problem with someone educating investors but it should not involve inducements, says chairperson Buch

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FTX starts talks to relaunch its international crypto exchange: Report

FTX has been holding talks with investors about backing a potential restart of the FTX.com exchange through structures such as a joint venture

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ICICI Securities to become 100% subsidiary of ICICI Bank after delisting

As a part of the acquisition, shareholders of ICICI Securities will get 67 equity shares of ICICI Bank for every 100 shares of the company

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Sebi sees no need for more time to MFs for realigning portfolios in HDFC

The market regulator Sebi does not see any need for giving more time to mutual fund houses with large holdings in the merger-bound HDFC twins, to realign their portfolios post-merger since there's no material data and given the highly liquid nature of these stocks demanding such an extension. In the biggest merger in the history of India Inc, HDFC in April 2022 said it would merge with its own banking subsidiary in a USD 40-billion all-stock deal -- after 46 years of being a home loan financier and in between creating the country's largest private sector bank and four other financial sector brands in the insurance, AMC and brokerage businesses. And this Tuesday (June 27), HDFC chairman Deepak Parekh said the boards of the Corporation and HDFC Bank will meet on June 30 to finalise the last contours of the merger which is expected to be effective July 1.. He has also said that would be the last meeting of HDFC board and also his as the chairman after working in the company from day on

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Sebi finalising draft discussion paper over guidelines for 'finfluencers'

Market watchdog Sebi will be finalising a draft discussion paper in a month or two to formulate rules and guidelines to regulate the mushrooming number of unregistered financial influencers or finfluencers who offer investment advisors to the public. The statement from Sebi chairperson Madhabi Puri Buch comes on the heels of the income tax department reportedly sending notices to top 35 social media influencers for not paying taxes worth crores of rupees and after last week's searches on the top 13 Youtubers in Kerala for similar offences. "We are crystalising a discussion paper to regulate financial influencers. The paper should be ready for public comments in the next couple of months," Buch told reporters late last night after a marathon board meeting wherein the board approved a rash of regulatory measures including halving of the share listing time to three days the present six after an IPO. The board also decided to tighten the disclosure norms for large foreign portfolio ...

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Gold price falls Rs 220 to Rs 58960 silver rises Rs 400 to Rs 71900

The price of 22-carat gold declined Rs 300 to Rs 54,050

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Sebi to revamp strengthen investor grievance handling mechanism

Markets watchdog Sebi on Wednesday decided to revamp its complaint redressal system as part of efforts to strengthen the investor grievance handling mechanism. At its meeting here, the Sebi board cleared various measures to boost the investor grievance handling mechanism and linking SCORES (Sebi Complaint Redress System) with the Online Dispute Resolution Mechanism. It would also look at reducing timelines, introducing auto-routing of the complaint to concerned regulated entities, and auto-escalation of complaints in case of non-adherence to the prescribed timelines by the regulated entity. Among others, Sebi, in a release after the board meeting, said it would also provide two levels of review. The first review would be by the designated body if the investor is dissatisfied with the resolution provided by the regulated entity concerned. The second review would be done by Sebi if the investor is still dissatisfied after the first review. Linking SCORES with Online Dispute Resoluti

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Titagarh Rail gets LoA for Rs 857-crore order from GMRC; stock rallies 5%

TRSL recently received the largest-ever order for Wagons from Indian Railways

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Nifty likely to hit 19000 soon; support seen at 18660

Among individual stocks, Vinay Rajani the technical & derivative analyst of HDFC Securities recommends to Buy Surya Roshni and Bajaj Electricals.

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Stocks to Watch: SBI HDFC twins JSW Steel Vedanta TCNS ITC ABFRL

Stocks to watch on June 28, 2023: HDFC said the announced dates for its merger into HDFC Bank are tentative and subject to completion of certain formalities; JSW Steel could replace HDFC in Nifty50

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Nifty FMCG index could weaken below 51120; Look to buy metals on dip

According to Ravi Nathani, an independent technical analyst, the bias for Nifty Metal Index is likely to remain bullish as long as it holds above 5,910.

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Karnataka govt to reopen Bitcoin scam to get it probed thoroughly

The Congress government in Karnataka on Tuesday said it will get the Bitcoin scam taken place during the previous BJP government thoroughly investigated. The case is likely to be handed over to the Criminal Investigation Department (CID), Home Minister Dr Parameshwara has hinted. Speaking to reporters in Hassan today, CM Siddaramaiah said all irregularities and scams of the BJP government including the Bitcoin scam will be probed. Parameshwara charged that the BJP tried to close the matter but the Congress government will get it investigated. "Regarding Bitcoin, I have said that whatever incident has happened will be thoroughly investigated. For whatever reason, the previous government had closed it. When we were in the opposition, we had said that we will get it investigated if we come to power. We will take all steps to reinvestigate it, Parameshwara told reporters here. He also said the Bengaluru Police Commissioner has written to the Director General of Police recommending tha

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Aditya Birla Capital gains 4%; hits 52-week high post launch of QIP issue

On June 1, the company's board approved preferential issuance of Rs 1,250 crore to its promoter and promoter group entity, out of the total approved equity fund raise of upto Rs 3,000 crore.

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Stock of this aerospace & defence company has zoomed 63% so far in June

Shares of Apollo Micro Systems hit a new high of Rs 55.25, zooming 355 per cent in past one year, as against 19 per cent rise in the S&P BSE Sensex.

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Stocks to Watch: Lupin Vi Tech M Bharti Airtel Aditya Birla Capital

Stocks to Watch on June 27, 2023: Lupin: As per reports, Lupin is considering a restructuring move to unlock value by demerging its API (active pharmaceutical ingredients) business

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Bias for Nifty PSU Bank Pvt Bank indices remain bullish; here's why

According to Ravi Nathani, an independent technical analyst, the current consolidation in Nifty Pvt Bank index is more time-based rather than price-based.

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Crypto platform Mudrex launches AI chatbot SatoshiGPT for crypto education

Mudrex has developed SatoshiGPT, an inclusive platform designed to bridge the gap in crypto knowledge

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AUM of domestic passive funds tracking Nifty indices tops Rs 5-trn mark

As of May 31, 2023, there are 251 passive funds tracking 101 unique Nifty indices

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PolicyBazaar hits fresh 52-week high; stock nearly doubles from 52-week low

The stock of fintech company was trading at its highest level since May 2022.

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ICICI Securities surges 15%; board to mull share delisting on June 29

The company plans to delist its equity shares pursuant to a Scheme of Arrangement with ICICI Bank.

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Shree Cement plunges 10%; hits 5-month low amid ongoing Income Tax survey

Last week the Income Tax department initiated a survey action at five locations of the cement manufacturer.

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Stocks to Watch: IndusInd Bank Ipca Lab Infosys ICICI Securities RVNL

Stocks to Watch on June 26, 2023: The Hinduja Group is in talks to invest Rs 10,000 crore to hike its stake in IndusInd Bank, as per media reports

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Bank Nifty near lower-end of consolidation range; key support at 43400

According to Ravi Nathani, an independent technical analyst, the Nifty 50 is seen consolidating in the 18,500 to 18,900 range.

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M-cap of 6 of valued firms erodes by Rs 1 trn Reliance takes biggest hit

Six of the top-10 most valued domestic firms suffered a combined erosion of Rs 1,02,280.51 crore in market valuation last week, amid a weak trend in equities, with Reliance Industries taking the biggest hit. Last week, the BSE benchmark fell 405.21 points or 0.63 per cent amid a bearish trend in global equities and concerns over rate hikes by central banks of various countries. From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, Infosys and State Bank of India faced erosion from their market capitalisation (mcap). However, Tata Consultancy Services (TCS), HDFC Bank, HDFC and Bharti Airtel emerged as the gainers. The market valuation of Reliance Industries tumbled Rs 40,695.15 crore to Rs 17,01,720.32 crore. Hindustan Unilever's mcap diminished by Rs 17,222.5 crore to Rs 6,20,797.26 crore. State Bank's valuation fell by Rs 14,814.86 crore to Rs 4,95,048.22 crore and that of Infosys declined by Rs 11,204.66 crore to Rs 5,25,228.89 crore. The mcap of ITC

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