If the deal materialises, Angel will have to pay at least Rs 800-1,000 crore (Rs 8-10 billion) for a 51 per cent stake, valuing the brokerage at Rs 1,500-2,000 crore (Rs 15-20 billion). The talks are at an early stage.
The entities were involved in fraudulent practises in Sun Infoways stocks.
Airports across the country witnessed chaotic scenes on Friday after dozens of flights were either delayed or cancelled after a widespread global computer outage that also hit operations like cash withdrawal at some banks, and impacted functioning of some brokerages. Globally, the Microsoft cloud outage led to US airlines cancelling flights, but the tech giant later reportedly said its cloud services outage in the Central US region has been resolved.
Many are now hoping the markets remain in good stead as they look to finalise the dates for IPOs, such as UTI MF, Computer Age Management Services, Happiest Mind, and Angel Broking. Most of the issues are expected to come to the market in the second half of September.
Premier bourse BSE has added 1 crore registered investor accounts to its platform between June 6 and September 21, taking the total to over 8 crore in a span of just 107 days. On June 6 this year, the exchange had said its registered user base has crossed the 7 crore (70 million) mark, which was an addition of 2 crore registered investor accounts in a little over 12 months (from May 23, 2020). Commenting on the achievement of crossing the 8 crore registered investor accounts on Tuesday, BSE MD and CEO Ashishkumar Chauhan said equity investments, whether directly or through mutual funds, are gaining ground over last one-and-a-half years due to variety of reasons globally, and the domestic market is also following this world trend.
IIM Lucknow has concluded its 2020-21 final placements.
The so-called high networth individual portion saw 620x more demand than shares on offer.
The S&P BSE Sensex gained 120 points to close at 25,774.
The stock faced similar trends on the National Stock Exchange as well, where it opened at Rs 362, then plunged 2.70 per cent to an early low of Rs 354.10.
Shares of small-cap companies have been on a roll with the S&P BSE Small-Cap index hitting a new high in intra-day deals on Thursday. The rally has been fueled by an up move in stocks of chemicals, cement, graphite electrode makers, pharmaceuticals and information technology (IT) shares. In the past two weeks, since March 25, the index has outperformed the market by gaining 7.3 per cent. In comparison, the S&P BSE Midcap index was up 6.1 per cent, while the S&P BSE Sensex gained 3.6 per cent during the same period.
Agriculture activity, according to recent channel checks by Prabhudas Lilladher, is expected to continue at a strong pace in FY22.
Jio is planning to win over 350 million 2G feature phone users by launching a smartphone at a fraction of the current cost.
As macroeconomic fundamentals improve, Sensex will make new highs. Here're stocks that can give good returns.
About Rs 4,257 crore worth of bids have been received so far and the Centre hopes that retail investors - those investing up to Rs 2 lakh - will place bids worth at least Rs 750 crore.
Mercedes-Benz, Ferrari, Porsche and Lamborghini are some marquee badges that have introduced track cars to excite hard-core customers who want to push their cars to the limit, says Pavan Lall.
Interview with Associate director (commodities & currencies), Angel Broking.
'Kindly advise about the following stocks. Can I hold or exit?'
The Bombay Stock Exchange Ltd, India's oldest stock exchange launched mobile-based trading on Monday through its 33 leading brokers, a senior Exchange official said.
Infosys on Thursday cut its full-year revenue outlook in dollar terms by about 3 per cent because of mounting economic uncertainty in the euro zone, a move that did not go down well with investors.
Barbeque Nation IPO: The promoters hold 60.24 per cent stake, CX Partners owns 33.79 per cent and Rakesh Jhunjhunwala's investment firm Alchemy Capital holds 2.05 per cent in the company.
Rakesh Jhunjhunwala-backed Nazara Technologies is all set to hit the primary market with its Rs 583-crore IPO on Wednesday. The diversified and online gaming firm's three-day issue will run through March 17-19 and will be entirely an offer for sale (OFS). While 5.29 million equity shares will be offloaded via OFS by some of the shareholders, Rakesh Jhunjhunwala, who owns 3.29 million shares or 11.51 per cent stake in the company as of September 30, 2020, has decided to hold on to his stake. The issue has a price band of Rs 1,100-1,101 and will be available in lots of 13 shares and multiples thereof.
VIX is meant to indicate investors' perception of the annual market volatility over the next 30 calendar days. The higher the value, the higher is the expected volatility and vice versa. VIX touched its historical peak of 85.13 on November 17, 2008, in the aftermath of the collapse of Lehman Brothers. In the past five years, it has stayed below 30.
Dinesh Thakkar, chairman and managing director, Angel Broking, tells Business Standard the heady pace of markets could trigger selling.
A survey by five brokerage houses -- SBICap Securities, Angel Broking, ICICI Securities, Motilal Oswal and HSBC Securities -- reveals that after a volatile calendar year which saw input costs rise to record levels in the first half and then fall dramatically in the second half, FMCG companies will now see the benefit, as it usually takes a quarter for falling costs to show in the results.
According to a study by analyst firm Angel Broking, once the MNP facility is operational, mobile operators' average revenues per user, the benchmark of a telecom operator's financial strength, would get adversely impacted by around 5 per cent. Telecom companies' margins would also drop by 100-150 basis points and even earnings per share estimates would be pruned by 9-21 per cent.
According to experts, the Nifty has continued to form lower top-lower bottom formations, a trend seen in the last five weeks, and witnessed sharp selling towards 9,700 zones.
'We are expecting lower levels in the week beginning March 1.'
Sensex opened at 25,817 levels, 47 points down.
Drug major Ranbaxy Laboratories could suffer a potential revenue loss to the tune of Rs 300 crore (Rs 3 billion) due to delay in receiving approval from the US Food and Drug Administration (FDA) for generic version of GSK's anti-migraine medicine Imitrex, according to analysts.
'Small investors usually rely on tips or recommendations from a friend for stock picking.' 'These platforms offer them unbiased research for making their investment decisions.'
The three stocks from the Sensex that managed to break the trend in the falling markets are from the FMCG and pharmaceuticals space
Market watchers do not anticipate a turnaround soon.
Forex traders said a stronger dollar also dragged the rupee down.
Pharmaceutical is one of the key theme for 2007 at brokerage houses such as Religare Securities, Angel Broking and Pranav Securities.
Dinesh Thakkar, MD, Angel Broking, explains in an interview that retail investors' participation in the equity market is falling, but the share of organized players in broking business is increasing.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
As share of cash volumes in trading mix sees decline, it will result in moderation of profitability from core broking operations.
Recovery in bluechips and gains in European markets helped the rally.
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