Deadline to add nominees for MF investors, demat account ends on Sep 30

All individual demat account holders and mutual fund investors have time till September 30, to nominate a beneficiary or opt out of it by submitting a declaration form, failing which their demat accounts and folios will be frozen, and they will not be able to redeem their investments. This mandate applies to both new as well as existing investors, according to the Securities and Exchange Board of India (Sebi). The move is aimed at helping investors to secure their assets and pass them on to their legal heirs. "This will ensure smooth and hassle-free transfer of securities to the legal heirs of the investors in case of any unfortunate event," Tejas Khoday, co-founder and CEO at FYERS, said. Under Sebi's rule, new investors must either nominate their securities or formally opt out of nomination through a declaration form when opening trading and demat accounts. For existing investors, including jointly-held mutual fund folios, failing to meet this deadline will result in the freezin

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M-cap of 8 of 10 firms lose Rs 2.28 trn; HDFC, Reliance biggest laggards

The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent. Equity markets were closed on Tuesday on account of Ganesh Chaturthi. From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers. The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week. The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week. ICICI Bank's valuation dropped Rs 29,41

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Updater Services raises Rs 288 cr from anchor investors ahead of IPO

Integrated facilities management company Updater Services Ltd on Friday said it has raised Rs 288 crore from anchor investors days before the launch of its initial public offering (IPO). The firm has allotted 96 lakh equity shares to 18 funds at Rs 300 apiece, which is also the upper end of the price band, according to a circular uploaded on the BSE website late Friday night. Among the anchor investors that participated in the bidding are Nomura Singapore, Citigroup Global Markets Mauritius Pvt Ltd, BNP Paribas Arbitrage, Societe Generale, ICICI Prudential Mutual Fund (MF), Bandhan MF and Aditya Birla Sun Life Insurance Company. The initial share sale, with a price band of Rs 280-300 per share, will be open for public subscription during September 25-27. The Rs 640-crore IPO will comprise a fresh issue of equity shares aggregating up to Rs 400 crore and an Offer for Sale (OFS) of up to 80 lakh equity shares by a promoter and existing shareholders. Under the OFS, Tangi Facility ...

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Inspire Films to launch IPO during Sept 25-27, plans to raise Rs 21.20 cr

Inspire Films Ltd, a television content company, will launch an initial public offering (IPO) to raise Rs 21.22 crore. The IPO, which will open for subscription during September 25-27, comprises 35.98 lakh shares for Rs 59 a piece with a face value of Rs 10 each, said a statement from the company. A total of 10.24 lakh shares will be allotted to anchor investors and 6.82 lakh shares are reserved for Qualified Institutional Buyers (QIBs). While 5.14 lakh shares are reserved for high net-worth individuals (HNIs), 11.98 lakh shares are meant for retail investors and 1.80 lakh shares for market makers. "Following the IPO, the company's shares will be listed on the NSE Emerge platform on October 9, 2023," it added. The proceeds of the IPO will help Inspire Films to cater to the company's working capital requirements, and general corporate purposes facilitating strategic growth and development and covering the expenses. "With our IPO we will be able to expand our business further and cr

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GanderCoin :India's First Digital Coin

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Gold price dips Rs 180 to Rs 60,050, silver price unchanged at Rs 74,500

The price of 22-carat gold fell Rs 150 to Rs 55,050

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Stocks to Watch on Sept 22: JSW Steel, Glenmark Life, Samhi, Zaggle, TaMo

Stocks to Watch today, September 22, 2023: Glenmark Pharmaceuticals Board has approved the divestment of a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma for Rs 5,651 crore

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JPMorgan to add India to its emerging-markets bond index in June 2024

India's addition to a major global gauge will give global investors greater access to the world's fastest-growing large economy that offers some of the highest returns in the region

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Nifty FMCG, PSU Banks inidices: Near-term trading strategies

According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index seems range-bound, while one can adopt a 'sell on rise' strategy for the PSU Banks index.

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Sebi notifies rule for listing non-convertible debt securities on exchanges

Sebi has amended rules under which listed entities with outstanding non-convertible debt securities will be required to list subsequent issuance of such securities on stock exchanges. This will come into effect from January 1, 2024, the Securities and Exchange Board of India (Sebi) said in a notification uploaded on its website on Thursday. The move is aimed at facilitating transparency in price discovery of non-convertible debt securities, providing better disclosures to investors and the market, and avoiding ISIN-level confusion and possible mis-selling of unlisted bonds. In its notification, Sebi said certain types of issuances have been exempted from the applicability of this requirement. Those included capital gains tax debt securities issued under Section 54EC of the Income Tax Act, 1961; those Non-Convertible Debts (NCDs) where parties have agreed to hold the securities till maturity and accordingly will be unencumbered; and NCDs issued following an order of any court or ...

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EMS makes strong debut in weak mkt, lists at 34% premium over issue price

The stock listed at Rs 282.05, a 34 per cent premium over its issue price of Rs 221 per share on the National Stock Exchange

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SJVN slips 10% as government begins partial stake sale via OFS

The government will sell 96.67 million shares, or 2.46 per cent stake, in the company with an option to sell additional 2.46 per cent stake under offer for sale (OFS) route on Thursday and Friday.

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Stocks to Watch on Sept 21: Infosys, Sheela Foam, SJVN, Cipla, DCB Bank

Stocks to Watch today, September 21, 2023: The government will sell up to 4.9 per cent stake in SJVN via offer for sale (OFS) on Thursday and Friday

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STOCK MARKET LIVE: Global markets slippery after Fed ups 2024 rate forecast

Stock market Update on Thursday, September 21: The US markets ended in red on Wednesday after the US Fed signalled that rates may be higher than previously estimated till 2024-end.

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Nifty Pvt Bank index to remain bullish as long as it holds 22,770

According to Ravi Nathani, an independent technical analyst, the interim support levels for the private bank index are placed at 23,420, 23,120, 22,900.

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Signature Global's Rs 730 cr IPO receives 54% subscription on first day

The total size of the IPO is up to Rs 730 crore, comprising a fresh issue of shares worth up to Rs 603 crore and an Offer for Sale (OFS) of up to Rs 127 crore

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Gold price rises Rs 170 to Rs 60,220, silver jumps Rs 300 to Rs 74,800

The price of 22-carat gold went up by Rs 150, with the yellow metal selling at Rs 55,200

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Stocks to Watch: RIL, RR Kabel, Tata Motors, Bank of Maha, Bharat Dynamics

Stocks to Watch today, September 20, 2023: RR Kabel is set to debut at the stock exchanges on Wednesday, becoming the first entity to make a T+2 listing

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Gold firms with focus on Fed meeting; US 5-year yield highest since 2007

The dollar index eased from a six-month peak against its rivals, making gold less expensive for other currency holders

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Worsening Canada-India diplomatic ties may take a toll on FPI flows

Almost 85 per cent of these investments are in listed equity, while the remaining in debt and hybrid instruments

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FTX managers sue Sam Bankman's parents to recover 'misappropriated funds'

FTX owed customers approximately $8.7 billion when it filed for bankruptcy and about $7 billion in liquid assets have been recovered so far

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Retail investors prefer treasury bills over sovereign govt bonds

T-Bill returns attractive than bank FDs

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Sebi imposes Rs 35 lakh fine on MI Research for flouting regulatory norms

Capital markets regulator Sebi has imposed a fine of Rs 35 lakh on MI Research for violating regulatory norms. MI Research (Proprietor -- Ashish Jain) is a Sebi-registered Investment Adviser. The order came after Sebi conducted an examination into the business of MI Research with respect to compliance of the entity with IA (Investment Advisers) regulations. The period of examination was November 2017 to August 2019. In its order on Monday, Sebi found that MI Research had collected up to Rs 1.95 crore from 748 clients by charging them for services provided as an investment adviser. The quantum of fees charged for its services appears to be unreasonably high. However, the noticee (MI Research) had failed to comply with the basic requirements of IA rules and also promised assured returns and mis-sold his services to clients and thus, failed to act honestly and in good faith with due skill, care and diligence, and adhered to a high professional standard, appropriate standards of condu

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R R Kabel to list on Wed, become 1st to debut within 2 days of IPO closure

Wires and cables manufacturer R R Kabel, which concluded its Initial Public Offering (IPO) on Friday, is set to list on Wednesday --becoming the first company to debut on Dalal Street within two days of issue closing. While Ratnaveer Precision Engineering was the first company to list under the T+3 regime, R R Kabel will become the first company to list in the T+2 timeline -- the second working day after the issue closing on September 15. Capital markets regulator Sebi in August halved the timeline for listing of shares on stock exchanges after the closure of IPOs to three days (T+3) from six days (T+6). The new listing timeframe will be voluntary for all public issues opening on or after September 1 and mandatory for all issues after December 1, 2023. The reduction in timelines for listing and trading of shares will benefit both issuers as well as investors. Issuers will have faster access to the capital raised, thereby enhancing the ease of doing business while the investors wil

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Financial markets in India closed today on account of Ganesh Chaturthi

The markets will resume trading on Wednesday, Sept. 20.

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Gold price rises Rs 150 to Rs 60,050, silver falls Rs 200 to Rs 74,500

The price of 22-carat gold went up by Rs 140, with the yellow metal selling at Rs 55,050

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Jupiter Life Line shares soar 46% on debut; SAMHI Hotels subscribed 5.3x

The IPO of Zaggle Prepaid Ocean Services saw over 12 times more demand than shares on offer

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Titan gains 2%, hits new high on hopes of healthy operational performance

Thus far in the financial year 2023-24, Titan has outperformed the market by surging 32 per cent as compared to 15 per cent gain in the S&P BSE Sensex

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Jupiter Life Line makes strong debut; lists at 32% premium over issue price

Post-listing, the stock extended gains and moved 40 per cent higher to Rs 1,028 over its issue price

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JPMorgan sees India's share sale boom reaching $30 billion in 2024

Sales of additional shares in listed companies in the country have surpassed $10 billion this year, more than the tally for all of 2022, according to data compiled by Bloomberg

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Stocks euphoria in Indian market draws warning from top-performing fund

The chief investment officer at Nippon Life India Asset Management Ltd. says it's increasingly difficult to find opportunities in the $3.8 trillion market, where benchmarks have just hit record highs

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STOCK MARKET LIVE: GIFT Nifty hints tepid start; Hang Seng dips 1.3%

Stock market Update on Monday, September 18: US Fed meet outcome and global cues likely to dictate market action this week. GIFT Nifty hints of 30-odd points loss on the Nifty at the opening bell.

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Nifty may test 20,464 on the upside; Bank Nifty can surge past 48,000

Ravi Nathani, an independent technical analyst, says that despite the need for caution, the market remains generally bullish.

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NSE to introduce IRRA platform to address technical glitches, outages

To address technical glitches or outages, the National Stock Exchange will introduce an Investor Risk Reduction Access (IRRA) platform for trading members. In December last year, Sebi asked stock exchanges and clearing corporations to put in place a platform to help investors in case there is a disruption of services caused by systems belonging to trading members. The regulator asked them to make the platform operational by October 1. The IRRA platform will be available to trading members supporting internet-based trading (IBT) and Security Trading through Wireless Technology (STWT) for their investors. However, it will not be accessible for algo trading and institutional clients. The IRRA will be accessible to trading members across exchanges starting from October 3, 2023, according to an NSE circular. "To ensure seamless business continuity, trading members (TMs) are advised to maintain an updated disaster recovery (DR) site. "However, if both the primary and disaster recovery s

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Market participants look forward to the US Fed outcome for positive cues

According to the CME fed watch tool, 98 per cent of investors expect the US Federal Reserve to keep the rates unchanged

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