M-cap of 5 of 10 valued firms decline by Rs 62,586 cr; TCS biggest laggard

The combined market valuation of five of the top 10 most valued firms declined by Rs 62,586.88 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit, amid an overall bearish trends in equities. Last week, the BSE benchmark fell 180.74 points or 0.27 per cent, and the Nifty declined 35.95 points or 0.18 per cent. The market valuation of TCS plunged Rs 26,308.58 crore to Rs 12,91,919.56 crore. Infosys witnessed an erosion of Rs 25,296.43 crore from its valuation which was at Rs 5,95,597.10 crore. The market valuation of Reliance Industries fell by Rs 5,108.05 crore to Rs 15,87,553.37 crore and that of Hindustan Unilever declined by Rs 3,865.08 crore to Rs 5,79,373.96 crore. The market capitalisation (mcap) of HDFC Bank dipped Rs 2,008.74 crore to Rs 11,57,145.86 crore. However, the mcap of Bajaj Finance jumped Rs 20,413.41 crore to Rs 4,73,186.41 crore. Bharti Airtel added Rs 8,520.13 crore to Rs 5,19,279.14 crore in its valuation while

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Azad Engineering Ltd submits application for Rs 740 cr IPO with Sebi

Azad Engineering Ltd has filed draft papers with capital markets regulator Sebi to raise Rs 740 crore through an initial public offering (IPO). The company's IPO comprises a fresh issue of up to Rs 240 crore and an offer-for-sale (OFS) of equity shares aggregating up to Rs 500 crore by a promoter and investors, according to the draft red herring prospectus (DRHP). The OFS consists of the sale of equity shares aggregating up to Rs 170 crore by promoter Rakesh Chopdar, equity shares worth up to Rs 280 crore by Piramal Structured Credit Opportunities Fund and equity shares to the tune of up to Rs 50 crore by DMI Finance. Proceeds from the fresh issues will be used for funding capital expenditure of the company, payment of debt, and general corporate purposes, as per the draft papers filed on Friday. Azad Engineering is one of the key manufacturers of their qualified product lines supplying global original equipment manufacturers (OEMs) in the aerospace and defence, energy, and oil an

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Agilus Diagnostics files draft papers with Sebi to raise funds via IPO

Agilus Diagnostics Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The maiden public issue is entirely an offer for sale (OFS) of 1.42 crore equity shares by International Finance Corp, NYLIM Jacob Balls India Fund III LLC, and Resurgence PE Investments Ltd, according to the draft red herring prospectus (DRHP). Since the IPO is entirely an OFS, the entire proceeds will go to the existing shareholders. Agilus Diagnostics, formerly known as SRL Ltd, is one of the largest diagnostics service providers in terms of number of laboratories and the second largest in terms of revenue from operations in India, as of financial year ended March 31, 2023, according to a Crisil report. As of March 31, 2023, it had a network of 413 laboratories out of which 43 laboratories were accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL). The company has an international presence acro

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Inside Crypto Revolution: Meet the Best Crypto Leaders in India

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Sebi asks MCX to put launch of new commodity derivative platform on hold

The Securities and Exchange Board of India (Sebi) will discuss the commodity platform in its technical advisory committee meeting to be held shortly, MCX said in a statement

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Stocks to Watch today: Adani Group, TVS, Bajaj Auto, ICICI Lombard, Emami

Stocks to watch on Friday, September 29, 2023: Shares of Adani Group to be in focus amid reports that Abu Dhabi conglomerate IHC plans stake stake in Adani Green and Adani Energy Solutions.

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Nifty Energy index awaits breakout; Auto looks weak on charts

According to Ravi Nathani, an independent technical analyst, the Nifty Energy index seems trapped in the 26,975 - 27,350 trading range.

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Judge rejects bid to free FTX founder Sam Bankman-Fried during his trial

A judge on Thursday closed the door on FTX founder Sam Bankman-Fried's hopes to be free during his trial, although he extended the hours that the cryptocurrency peddler can meet with his lawyers in a federal courthouse. At a hearing, Judge Lewis A. Kaplan rejected a request by Bankman-Fried's lawyers to free their client so he could better prepare his defence against charges that he defrauded cryptocurrency investors. Bankman-Fried, 31, faces the start of his trial Tuesday in Manhattan. He has pleaded not guilty. His lawyer, Mark Cohen, told Kaplan that he cannot meaningfully confer with his client as long as Bankman-Fried is jailed at the Metropolitan Detention Centre in Brooklyn. And he insisted that there was no risk that Bankman-Fried would flee, prompting Kaplan to interrupt him. The closer we get to trial, the more I'm wondering about that, Kaplan said. "Your client, if there is conviction, could be looking at a very long sentence. If things begin to look bleak maybe he fee

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Gold price dips Rs 280 to Rs 59,450, silver falls Rs 600 to Rs 74,200

The price of 22-carat gold fell Rs 250 to Rs 54,500

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Govt securities, forex market to remain operational on Thur, Fri: RBI

Government securities, foreign exchange, money and rupee interest rate derivatives markets will remain open on Thursday and Friday, according to the Reserve Bank of India. The Maharashtra government has declared September 29 as a public holiday under Section 25 of the Negotiable Instruments Act, 1881. The public holiday on September 28, 2023 declared earlier has been cancelled. "To ensure smooth functioning of the financial markets and non-disruptive settlement of transactions especially in view of the quarter/ half year end, it has been decided, in public interest, to keep the government securities market, foreign exchange market, money market and rupee interest rate derivatives market operational on September 29, 2023 in addition to being operational on September 28, 2023," the RBI said in a statement on Wednesday. It further said settlement of the auction of Government of India treasury bills conducted on Wednesday (September 27) will take place on September 29, 2023. The auctio

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Nifty Metal, Pharma: Trading strategies for these 2 sectoral indices

According to Ravi Nathani, an independent technical analyst, the Nifty Metal index seems to be trading in a range-bound manner, with a negative bias; whereas, the outlook seems positive for the Pharma

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Sebi extends deadline to add nominees for mutual fund account holders

Markets regulator Sebi on Wednesday extended the deadline for mutual fund account holders till January 1, to nominate a beneficiary or opt out of it by submitting a declaration form, failing which their folios will be frozen. Earlier, the deadline for existing mutual fund holders to provide a choice of nomination was on or before September 30. The move is aimed at helping investors to secure their assets and pass them on to their legal heirs. "Based on representations received from the market participants, it has been decided that the provision... about the freezing of folios, shall come into force with effect from January 1, 2024 instead of September 30, 2023," Sebi said in a circular. Further, Sebi asked asset management companies (AMCs) and RTAs to encourage the unit holder to fulfill the requirement for nomination/ opting out of the nomination by sending a communication on a fortnightly basis by way of emails and SMS to all such unit holders who is not in compliance with the ..

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Signature Global makes healthy debut in weak market, lists at 16% premium

The stock of the real estate firm listed at Rs 445, a 16 per cent premium over its issue price of Rs 385 per share, on the BSE

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Vedanta tanks 6% as Moody's downgrades corporate family rating to Caa2

The downgrade reflects the elevated risk of debt restructuring over the next few months because VRL has not made any meaningful progress on refinancing its upcoming debt maturities, Moody's said

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Buy the dips in Nifty FMCG, Financials; here's why

According to Ravi Nathani, an independent technical analyst, the 'buy the dips' strategy seems particularly relevant in the current market conditions.

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E Canna Coin Launched in Mumbai: Igniting India's Digital Asset Revolution

Mumbai (Maharashtra) [India], September 26: In a landmark event held at the prestigious Red Bulb Studio in Andheri West, Mumbai, E Canna Coin, a trailblazing cryptocurrency enterprise, marked its highly anticipated debut. With a distinguished guest list, including top company figures, this event highlighted the profound impact E Canna Coin is poised to have on India's digital asset landscape and beyond.

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Chase UK will soon bar customers from making cryptocurrency transactions

Chase UK, JP Morgan's British digital bank, says it will bar customers from making cryptocurrency transactions starting next month citing an uptick in scams and fraud. From October 16 onward, Chase customers will no longer be able to make crypto transactions using their debit card or through an outgoing bank transfer, the bank said Tuesday. If we think you're making a payment related to crypto assets, we'll decline it, Chase said in an email to customers. If you'd still like to invest in crypto assets, you can try using a different bank or provider instead but please be cautious, as you may not be able to get the money back if the payment ends up being related to fraud or a scam. In an email to The Associated Press, Chase said that Tuesday's decision was made to help keep customers and their money safe. The bank also pointed to increases in crypto fraud-related losses reported by UK regulators in the last year. According to London-based law firm RPC, data from Britain's fraud ...

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Y-Combinator-backed Mudrex becomes FIU-registered crypto platform

Mudrex has become the third crypto platform to be registered with the FIU after WazirX and CoinDCX

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Apar Industries rallies 7% on fund raising plan; stock zooms 357% in 1 year

The board of directors of the company is scheduled to meet on Thursday, September 28, 2023 to consider fund raising plans

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Delta Corp sinks 23% in 2 days post tax notice; Kacholia sells 0.6% equity

The stock was quoting at its lowest level since December 2020 after the company received a tax notice amounting to Rs 16,822 crore last Friday, September 22.

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Stock market LIVE: Asia lower led by Nikkei, Kospi; Wall St gains overnight

Stock market LIVE updates on September 26, 2023: Trading, back home, will be guided by global mood, and stock-specific newsflow

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Nifty Pvt, PSU Bank indices: What should be your trading strategy here?

According to Ravi Nathani, an independent technical analyst, one should adopt a 'Buy on Dips' strategy for Nifty Private Bank index, while a 'Sell on Rise' strategy in case of the PSU Bank index.

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Bajaj Finance gains 4% as Board to meet on Oct 5 to consider fund raising

The Board of Bajaj Finance is scheduled to meet next week to consider proposal for raising of funds through any or all of various methods including by way of preferential issue or QIP

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Delta Corp tanks 15%, hits 52-week low on tax notice of Rs 16,822 crore

Delta Corp said the amounts claimed in the DG Notices are inter alia based on the gross bet value of all games played at the casinos during the relevant period

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Religare Ent sinks 7% as Burman family makes open offer for 26% stake

Burman family, which holds a controlling stake in Dabur, announced an open offer for a 26 per cent stake in Religare Enterprises for up to Rs 2,116 crore

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India bonds finally at global high table with JPMorgan index inclusion

The decision sets the stage for billions of dollars of inflows just when the bond market is straining under record government borrowings

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Stocks to Watch today, Sep 25: LIC, Ambuja, Bajaj Finance, JSW Steel, SBI

Stocks to watch on Monday, September 25, 2023: Canara Bank, Delta Corp, Granules, Hindustan Copper, Indiabulls Housing and Manappuram Finance are the six stocks in F&O ban period today.

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Pivot level for Nifty stands at 19,336; Near support seen at 19,600

According to Ravi Nathani, an independent technical analyst, break of 19,336 on the Nifty could usher in a bearish trend.

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Real estate fractional ownership mkt touches Rs 4,000 cr, to grow at 25-30%

Fractional ownership of real estate is gradually gaining acceptance among investors as assets under management have touched Rs 4,000 crore, according to a report. TruBoard Partners, a tech-enabled real asset management company, has come out with a report on fractional ownership. Many private companies have set up fractional ownership platforms that allow investors to own a fraction of real estate assets. "Fractional ownership typically involves the ownership of an underlying real estate asset among multiple investors. This lowers capital requirements and facilitates participation of a larger set of players in real estate asset ownership," the report said. Investors infuse their fund in securities issued by a Special Purpose Vehicle (SPV), established by the fractional ownership platform. These platforms provide a formal channel that enables a group of people to pool in money and jointly own real estate. "Although the concept of fractional ownership of real estate is at a nascent

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