Domestic mutual funds (MFs) have underpinned demand for most public floats this year, dominated by small- and mid-sized initial public offerings (IPOs). Of the 24 IPOs that have hit the market so far this financial year (2023-24, or FY24), MFs have played the role of 'anchor investors' in 20. They have subscribed to over 40 per cent, or Rs 2,850 crore, worth of shares of the Rs 6,900 crore on offer in the anchor category, according to data provided by PRIME Database, a firm that tracks primary market data.
With the Nifty50 surging past the 20,000 mark, the markets are experiencing a spate of initial public offerings (IPOs) with four issues set to raise over Rs 4,673 crore this week. Another quartet, cumulatively worth Rs 3,000 crore, is expected to launch next week. Companies like RR Kabel, SAMHI Hotels, Zaggle Prepaid Ocean Services, and Yatra Online are set to hit the primary market this week, while Signature Global, Updater Services, Sai Silks (Kalamandir), and Vaibhav Jewellers are slated for next week. This flurry of activity is driven by multiple factors including buoyant market conditions, increased demand for IPOs, and specific rule on the disclosure of quarterly financials.
The Bombay Stock Exchange has suspended trading in 52 companies with effect from September 20 for failing to comply with various provisions of the listing agreement.
Existing mutual fund investors have time till March 31 to nominate a beneficiary or opt out of it by submitting a declaration form, failing which their folios will be frozen, and they will not be able to redeem investment. The Securities and Exchange Board of India (Sebi), in its circular on June 15, 2022, made it mandatory for mutual fund subscribers to submit the nomination details or declaration to opt out of the nomination on or after August 1, 2022. Later, the deadline was extended to October 1, 2022.
But trading through the route still a minuscule portion of total turnover
Neetu Yadav and Kirti Jangra teamed up to create an app that is possibly the platinum standard for apps targeted at Bharat.
The GST rate for the sector has not yet been finalised by the government.
In its order passed on Wednesday, the commission said Rs 1.08 lakh in fees deposited by complainant Priyanka Dixit at the time of admission in 2021 must be returned along with 12 per cent annual interest, while Rs 5,000 must be given to her as litigation cost and Rs 50,000 as compensation for financial and mental agony.
Malls, retail stores are being hit by online sales and are struggling this festive season.
The National Company Law Appellate Tribunal (NCLAT) on Tuesday stayed a Rs 169 crore penalty imposed on Oravel Stays Ltd by the competition commission of India (CCI). Oravel Stays Ltd operates under the brand name Oyo. However, a two-member NCLAT bench while admitting the appeal filed by Oravel Stays Ltd (OSL) directed to deposit of 10 per cent of the penalty amount within six weeks.
Have you heard of an electronic exchange to trade electricity? Soon, online power exchanges will be a reality in India.
Cortal Consors, an arm of BNP Paribas, is planning to foray into the wealth management services market in India, targeting the high-networth investors, whose incomes range from Rs 10 lakh to Rs 1 crore (Rs 10 million).
India's largest agri commodity exchange -- the National Commodities and Derivatives Exchange says is chalking out several projects to connect farmers with online futures trading in commodities.
Friday will be a landmark day for domestic markets, with all the listed stocks entering the professed T+1 (trading plus one day) settlement cycle. About 200 stocks, which account for more than 80 per cent of India's market capitalisation, will be settled on a next-day basis, with effect from January 27. This will evidently complete the transition to the T+1 cycle that started in February 2022 with the bottom 500 stocks in terms of market value.
Here is how you can find out if your partner is guilty of financial infidelity.
This was because of the closure of retail shops and factories after the nationwide lockdown was imposed to prevent spread of Covid-19, and a sharp increase in the metal's price.
During his tenure with the group, Bagchi has held several key positions in retail banking, corporate banking and treasury.
Brokerages have cut their estimates of listed diagnostics players for the financial year 2023-24 (FY24) after mixed December quarter results and muted near-term outlook. Their volumes and realisations will be under pressure due to weakness in Covid-adjusted performance and higher competitive pressures, the brokerages believe. In a post-Q3 results note on Dr Lal Pathlabs, Bhavesh Gandhi of YES Securities pointed out that there has been a lack of volume revival in recent quarters, with an increasing likelihood that FY24 too would be a work-in-progress year for the company's initiatives to bear fruit.
The New Zealand police on Monday said they have received a "report" wherein it was alleged that two members of a delegation of the Gujarat Cooperative Milk Marketing Federation (GCMMF), the Amul brand owner, "inappropriately touched" a woman at a trade event in the island country a week ago.
The department of personnel and training has asked the Union Public Service Commission to recruit such specialists through "lateral entry" mode in 12 government departments/ministries, he said.
The National Stock Exchange on Monday said broadcast has resumed normally in Nifty and Bank Nifty indices after the prices had stopped updating in the two indices in the early morning trade.
A total of 25,446 Chinese made electronic and Fast Moving Consumer Goods (FMCGs) were seized from the warehouse on Old Airport Road during the recent raids.
Their bootstrapped brand sold 25,000 units on Flipkart in five days during the 2017 festive sale.
MCA portal clocks 5 mn views in 8 months; ministry to integrate company records portal with DGFT, I-T dept this year
Edtech major Byju's on Tuesday said it has filed a complaint in the New York Supreme Court to challenge acceleration of the $1.2 billion Term Loan B (TLB). The company is also seeking the disqualification of Redwood, who contrary to the terms of TLB, purchased a significant portion of the loan while primarily trading in distressed debt. "Byju's has had to take these measures following a series of predatory tactics by the lenders, led by Redwood," the company said in a statement.
'Since we have a long waiting period, customers will be able to see cars for the next one year which are going to be produced and block (book) them.' 'So, if there is a wedding or a birthday in October, they can already check its availability in that month and block it.'
The government is at a "fairly advanced stage" of finalising a well-coordinated e-commerce policy and consumer protection rules, which will incorporate provisions of Open Network for Digital Commerce (ONDC), Department for Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh said on Thursday. "E-commerce rules and e-commerce policy will be congruent with each other... That exercise is at a fairly advanced stage," Singh told reporters. The remarks come on a day the number of daily transactions on the platform has gone up 500 times since the beginning of this year with the number of retail merchants added to its roster growing 40-fold.
The company is modelling its many ventures on Alibaba in China.
Notwithstanding lower growth rates recorded in the first quarter (Q1) of 2023-24 (FY24), which spanned from April to June, footwear stocks have seen some gains in the past two trading sessions. Bata India saw an increase of approximately 5 per cent, driven by positive expectations surrounding a potential tie-up in the sports/athleisure segment. This development is viewed favourably due to the segment's higher growth rates.
The 2023 Budget set off a downtrend in the listed life insurance company stocks. The key reason was a proposal to tax income from insurance policies (other than unit-linked insurance plans or ULIPs) with a premium, or aggregate premium, of above Rs 500,000 per annum. This impacted the traditional savings profile since it affected the returns for these products.
Retailer bodies to demand govt action against I-Day sales offers, threaten legal action for breach of FDI rules.
In an online chat with Get Ahead readers on October 9 Nithin Kamath, CEO, Zerodha.com answered readers' queries on how to trade in futures and options.
ICICI Securities (I-Sec) has topped the Prime Database league table for money raised through initial and follow-on public offerings (IPOs/FPOs). Besides being No.1 in IPO transactions this year, the category-1 merchant banker is working on a lot of private equity transactions.
The ruling Congress is seeking to retain power in Chhattisgarh by banking on the welfare schemes of the Bhupesh Baghel government, while the Bharatiya Janata Party is hoping to corner it on the issues of alleged corruption, religious conversions and unfulfilled poll promises.
Persistence and discipline are key to creation of wealth in the long term. Time is your strongest ally in helping your wealth grow multifold.
The ministry of railways has decided to withdraw its decision on sharing of convenience fee earned by IRCTC on online bookings of train tickets, the DIPAM secretary said on Friday.
It has been more than a year since the monsoon floods devastated Mumbai in July 2005
'Building a whole product with the railways was challenging; we had to figure out how to load and unload a train when it stops for only about five minutes at a station.' 'We also helped them understand the revenues this would generate for them.'
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