Sebi Chairman Tuhin Kanta Pandey has defended the newly rolled out Closing Auction System (CAS), stating that it is a transparent mechanism and that the industry needs time to understand the change. He acknowledged initial turbulence and concerns from fund houses but noted an increase in mutual fund participation.
The economic fallout of the West Asia crisis, the prevailing security situation in the Indo-Pacific and ways to boost cooperation in critical minerals and technology are expected to top the agenda at a crucial meeting of the Quad foreign ministers on Tuesday.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
Following a ban on real-money gaming, Dream Sports, the parent company of Dream11, is strategically expanding its portfolio across 11 companies, including a new venture into wealth management and stockbroking, with a focus on serving a mass user base through AI-first solutions, cofounder Harsh Jain confirmed.
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
When everyone has footage and no one can verify it, the loudest voice wins, notes Prem Panicker who begins a daily blog on the War in the Middle East.
Currently, India has five publicly listed Reits: Brookfield India Real Estate Trust, Embassy Office Parks Reit, Mindspace Business Parks Reit Nexus Select Trust, and Knowledge Realty Trust.
India, with m-cap of about $1.6 trillion, is ahead of Switzerland.
The Nifty Options would add to SGX's suite of Asian equity derivatives, which include SGX S&P CNX Nifty futures, the dominant Indian product for international participants.
The approval is expected to come in the next six months, he said. BBX is listed on the Australia Stock Exchange and facilitates cashless business transactions.
Satyam Computer on Monday said it has appointed Venki Prathivadi as the country manager for its Australia and New Zealand operations.
Hindenburg Research, the forensic financial firm that challenged the Adani Group, took its name from the infamous airship that burst into flames upon arriving in New Jersey in 1937. And the counter to its damning report against the conglomerate was dubbed 'Operation Zeppelin,' named after the German dirigible airships used for reconnaissance and bombing during the First World War.
Drug major Ranbaxy on Wednesday said it has received approval from the Australian health regulator to market its antipsychotic drug Ozidal Risperidone in that country.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
Satyam Computer Services Ltd on Wednesday launched a Global Development Centre in Melbourne, Australia, which is the company's largest centre outside India.
Currently, trades on the Indian stock exchanges are settled within two days, just like most major markets such as Singapore, Hong Kong, Australia, Japan, and South Korea. Indian exchanges, however, will be moving to T+1 settlement from February 25 in a phased manner.
"Less than two week back, we faced a set of allegations from the US about compliance practices. This is not the first time we have faced such challenges. What I can tell you is that every attack makes us stronger," he said addressing the 51st Gems and Jewellery Award in Jaipur.
The Securities and Exchange Board of India (Sebi) has introduced an optional T+1 settlement cycle for the markets. T+1 means that settlements will have to be cleared within one day of the actual transactions taking place. The regulator has put the onus on the stock exchanges to decide whether they want to opt for the shorter settlement cycle for any of the listed scrips. This can be done after giving a one-month prior notice to all stakeholders.
ICICI Bank, Axis Bank, Infosys, M&M, Tech Mahindra, Tata Steel, SBI and Maruti were also among the gainers. On the other hand, IndusInd, TCS, Titan and Asian Paints declined.
Benchmark BSE Sensex rose by 160 points on Thursday in choppy trade following gains in select banking and auto counters amid mixed global cues. The 30-share index gained 160 points to settle at 62,570.68 as 13 of its components advanced while 17 declined. The barometer opened lower but later gained momentum to touch a high of 62,633.56 in the day's trade.
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
Among major Sensex shares, PowerGrid fell the most by 2.76 per cent. IndusInd Bank dropped 2.34 per cent, HUL by 2.23 per cent and NTPC by 2.04 per cent. ICICI Bank, HDFC Bank, HDFC, ITC, Infosys, L&T, Bajaj Finance, Kotak Bank, HCL Tech and Tech Mahindra were among the losers. On the other hand, Tata Motors rose the most by 2.94 per cent, followed by Titan which gained 1.26 per cent. Mahindra & Mahindra, SBI and TCS were also among gainers.
Infosys fell the most among Sensex stocks, declining by 2.85 per cent. Among other IT stocks, TCS fell by 1.87 per cent, Wipro by 1.52 per cent, and HCL Tech by 1.70 per cent. NSE Nifty plunged by 174.65 points to close at 17,938.40.
Amid sustained weakness across categories, the Indian stock market remained below the trillion-dollar mark for the third consecutive day today, as the total valuation of all listed companies slipped further to $944 billion.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
Equities are the go-to asset class as far as ultra-long-term returns are concerned. Over the past 123 years, global equities have provided an annualised real return of 5 per cent in US dollar terms, while bonds have delivered 1.7 per cent and short-term bills just 0.4 per cent, according to Credit Suisse's Global Investment Returns Yearbook 2023. In collaboration with the London Business School, Credit Suisse has analysed over 100 years of returns for key asset classes in 35 countries.
Indians spent more on foreign investments during the past 12 months than they have since at least 2012.
The stock jumped 12.9 per cent to Rs 95.80 at Bombay Stock Exchange.
Embattled Adani Group on Monday said it has put on hold major equipment procurement and site construction activities for the Rs 34,900 crore petrochemical project at Mundra in Gujarat as the project has not yet tied up finances. The group's flagship Adani Enterprises Ltd (AEL) incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd in 2021 for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in the Kutch district of Gujarat. Asked by stock exchanges to comment on a PTI report on Sunday that the group has suspended work on the project, AEL said, "The financial closure of the Green PVC project of Mundra Petrochemicals Limited ( MPL) is pending with the financial institutions and it is in their active consideration."
From the Sensex pack, NTPC, Tata Motors, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, HDFC Bank, Reliance Industries, Titan, Power Grid and State Bank of India were the major gainers. ITC, UltraTech Cement, Tech Mahindra, Tata Steel, Wipro, Tata Consultancy Services and JSW Steel were among the laggards.
HCL Technologies Ltd said on Tuesday its wholly-owned subsidiary HCL Australia Pty will enter into a partnership with La Trobe University, Australia, on Wednesday to work together on issues of mutual interest. \n
Adani Enterprises plans to invest a total of $25 billion in the next five years.
Prime Minister Narendra Modi arrived in the Japanese city of Hiroshima on Friday to attend the annual summit of the G7 grouping and the third in-person Quad leaders' meeting during which he will exchange views with world leaders on global challenges and discuss ways to collectively address them.
Bajaj Finance was the top laggard in the Sensex pack, plunging around 6 per cent, followed by IndusInd Bank, SBI, M&M, Axis Bank, Bajaj Auto and ICICI Bank. NSE Nifty sank 229.55 points to 14,637.80.
Gujarat NRE Coke on Monday said it has completed the acquisition of the Australia-based Elouera mine from BHP Billiton a part of the Australia-based Illawarra Coal Business for an undisclosed amount.
Reeling under sustained criticism, media baron Rupert Murdoch and his family on Friday went into damage-limitation mode by promising to "apologise" to the nation, and accepted the resignation of former News of the World editor Rebekah Brooks. The Murdochs and their media empire have become the focus of criticism and inquiries in Britain as well as in the United States and Australia, besides taking knocks on the stock exchange for indulging in dubious news gathering practices.
UBS Securities, broking arm of the largest Swiss bank, and Australia's Macquarie Equities Research are the most bearish.
Trading was suspended for one hour at the Bombay Stock Exchange after the benchmark Sensex fell to the low of 15,576.30 within minutes of opening, crossing the circuit limit of 10 per cent.
Tata Steel Ltd on Monday said it had signed an agreement with Australia-based AMCI Pty Ltd to acquire five per cent stake in Carborough Downs coal project.
