Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent
Reliance Industries Ltd plans to sell a 3.1 per cent stake, worth $32 million at the current market price, in unit Network18 Media & Investments.
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
Global investment firm Blackstone-sponsored Nexus Select Trust has filed the draft paper with market regulator Sebi to launch India's first public issue of retail REIT to raise around $500 million (about Rs 4,000 crore), sources said. Nexus Select Trust has a portfolio of 17 operational shopping malls across 14 major cities, covering about 10 million square feet of area valued at around $3 billion. As per the sources, Nexus Select Trust has on Thursday filed the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) and is looking to hit the capital market with India's first retail REIT (Real Estate Investment Trust) public issue in the first half of the 2023 calendar year.
Manchester United's David Gill will step down in June after a decade as chief executive of the English Premier League football club, United said on Wednesday.
The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
Manchester United's early exit from the Champions League last season cost the English club almost 17 million euros in payments from UEFA compared with the previous year, figures released on Friday showed.
Regarding the applicability of stamp duty on redemption of mutual fund (MF) units, Sebi said, "Redemption is not liable to duty as it is neither a transfer nor an issue nor a sale." However, switching in mutual fund would attract stamp duty. "The issue of fresh units in the switched scheme would attract stamp duty even though there is no physical consideration paid or transfer of ownership," Sebi said.
The government on Wednesday said it will raise Rs 72,500 crore through disinvestment of PSUs, including listing of three railway PSUs IRCTC, IRFC and IRCON, and proposed merger and consolidation to create globally competitive public sector units.
Reliance Retail's shareholders will get one share of its listed parent, Reliance Industries, in exchange for every four shares, according to the scheme of arrangement.
There is no way out for Mallya's debt problems unless he sells some of his stake, says an analyst.
The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore. The Department of Investment and Public Asset Management (DIPAM) will appoint an intermediary that will act as a custodian of these shares. The intermediary, based on its market analysis, will offload these shares at the best price, said an official. A final approval on the proposal is expected soon.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
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Policymakers stepped in late Thursday to calm markets.
The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield. While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent. Previously, Indian equities' earnings yields rose in sync with the US bond yields.
United States President-elect Joseph Biden has always been a strong supporter of India and India-US partnership since his days in Senate and later as a Vice-President.
Wockhardt, in a release issued to the National Stock Exchange on Tuesday, has announced the acquisition of CP Pharmaceuticals (Holdings) along with its subsidiaries.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
Anticipating panic and rush at bank counters, the Reserve Bank of India as well as the government has set up control rooms in Mumbai and the national capital to avoid any crisis, Department of Economic Affairs Secretary Shaktikanta Das said.
Tuesday's opening bell at the New York Stock Exchange will not only kick off a day of trade on Wall Street, it may also herald the end of an era at Manchester United, who are rumoured to be on the brink of announcing manager Alex Ferguson's retirement.
Following the market buzz, the stock opened the day on a bullish note and further jumped 6.13 per cent to Rs 590 on the Bombay Stock Exchange.
"We are now looking at a new fund under the gold category, which will enable small investors to subscribe to the units from the offices of UTI, without even having a demat account," said sources at UTI Mutual Fund. "With the equity markets rising by almost 30 per cent between mid-March and April, investors are no longer interested in gold ETFs. Also most Indians prefer holding physical gold, rather than gold ETFs," said a broker.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Last month, the US Food and Drugs Administration had placed Wockhardt's facilities in Waluj near Aurangabad on import alert, barring supply of various products from these facilities to the US.
Index heavyweights were the top losers along with bank shares.
United States' biggest electronic stock exchange Nasdaq will help companies listed on it to enter the Indian bourses by issuing Indian Depository Receipts.
'The Ruble is now down 50 per cent and worth less than one American penny since Putin announced his war'
The board of directors of textile company S Kumars Nationwide will meet on November 9 to consider a proposal to acquire a home textiles company in the United States.
Dr Reddy's Laboratories on Wednesday said it has acquired GlaxoSmithKline's US penicillin manufacturing facility and the rights to the Augmentin and Amoxil brands in the United States for an undisclosed sum.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
Asian shares ended higher after a string of positive US economic data.
The new Diageo management had asked Vijay Mallya to step down.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
Coal India, which is likely to hit the capital markets in October, "will be in the list of Fortune 500 the day it is listed on the stock exchange," the head of a government panel on public sector units said on Monday.
With the first quarter earnings season coming to an end, the domestic equity markets would be driven by global trends and trading activity of foreign investors this week, analysts said. The movement of global oil benchmark Brent crude and the rupee against the dollar would also drive trends in the market. "Macroeconomic indicators, trends in global stock markets and FII activities will be pivotal in shaping market trends in the coming days," Pravesh Gour, senior technical analyst at Swastika Investmart Ltd, said.
China now world's second largest share market, India is 7th
When mutual funds change their unit values, investors think there is a real change. In reality, it is not.
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