BUSINESS
Cable shockers: Ultracab promoters' stake sale makes Polycab’s poor governance look pretty
As of September 2023 end, promoters held 59.59 percent stake in Ultracab India which fell to 27.89 percent at the end of December.
BUSINESS
SME Shocker: Promoters cut stake from 73% to 20% in EVOQ after huge order win
EVOQ Remedies on January 10 disclosed that it has secured an export order of Rs 136 crore, almost seven times its market capitalisation of Rs 22 crore.
BUSINESS
Rate cuts in 2024 would be a mistake, believes this market veteran. Find out why
The Federal Reserve has been steadfast in adhering to its 2 percent target for inflation. But, Ritesh Jain of Pinetree Macro believes inflation target in western world will move to 3-4 percent
MARKETS
HFT Scan: Sula, South Indian Bank, Urja Global see action
While Urja Global and Sula Vineyards rallied to their 52-week highs, South Indian Bank closed lower on January 8
BUSINESS
Shyam Metalics QIP: Madhusudan Kela, Societe Generale allotted shares at 13% discount
Cohesion MK Best Ideas Sub-Trust, a joint venture between Cohesion Investments and Madhusudan Kela, has been allotted 5 lakh equity shares in the QIP.
BUSINESS
Nifty, Sensex don't have tomorrow's winners, mid & smallcaps not in bubble territory, says this market veteran
"Our largecap benchmarks don’t represent tomorrow’s India. That’s because 55 percent of the benchmark weight is in services," said Ritesh Jain, co-founder, Pinetree Macro
BUSINESS
HFT Scan: Dish TV, MTNL, Subex see action
While Dish TV and Subex gained over 10 percent on January 5, Snowman ended one percent higher and MTNL closed one percent lower
BUSINESS
IREDA, Cello, Mamaearth could make it to MSCI index, Nykaa, Mankind need to rally more
Inclusion or increase in stock weightage in global indices like MSCI and FTSE leads to inflows from passive funds, which track that index. Exclusion from these indices usually leads to outflows.
BUSINESS
HFT Scan: Indiabulls Real Estate, Reliance Power, Vakrangee see action
The volumes generated by high frequency trading firms (HFTs), more often than not, attracts retail investors to these stocks. The stocks gained between 7-18 percent as trading volumes jumped multi-fold compared to one-month average.
BUSINESS
SME IPOs: Here are 7 tips to tell the good from the bad
Given their small size, SMEs struggle to get funding from banks and are charged very high interest rates. Thus, the SME platforms of the NSE and BSE have become a boon for these companies, say market observers
BUSINESS
Sumitomo may exit Samvardhana Motherson, hires banker for Rs 10,000-cr deal
If the block deal fructifies in this quarter, then it will come exactly one year after Sumitomo's part stake sale in March 2023. At the time, Sumitomo had offloaded 3.4 percent stake in Samvardhana Motherson at Rs 70.1 apiece
BUSINESS
Azad Engineering Debut: Sachin Tendulkar hits it out of the park, PV Sindhu's investment triples
The investments of Saina Nehwal, PV Sindhu, and VVS Laxman have tripled. According to the prospectus, their adjusted acquisition price was Rs 228.17. Each of them holds 44,000 shares
BUSINESS
Mirae Asset aims to be among top 5 brokers in 5 years, with Sharekhan acquisition
On December 12, Mirae Asset acquired retail broking firm Sharekhan from BNP Paribas for Rs 3,000 crore, marking a shakeup in the industry. As of November end, Mirae Asset had 2.42 lakh NSE active clients while Sharekhan had 6.24 lakh active clients
BUSINESS
Piramal, Edelweiss & other NBFCs under scanner as RBI cracks whip on loan evergreening via AIFs; provisions to rise
Experts agree that the directive will result in NBFCs making provisions because it may not be easy to withdraw investments in AIFs within the stipulated period
BUSINESS
SpiceJet's bid for Go First: Can the ailing revive the dead?
For SpiceJet, which is itself reeling under Rs 6,000 crore debt burden and facing insolvency pleas from aircraft lessors, reviving Go First and starting it from scratch, will not be an easy task.
BUSINESS
Extended trading-hour plan in cold storage as small, traditional brokers resist move
Smaller brokers fear that volumes will not come initially but costs will mount. The window between 3:30 pm and 6 pm is too narrow to settle the trades and create fresh files for clients for the evening session
BUSINESS
IT, pharma likely to be biggest beneficiaries of FII inflows. Here's why
In Wipro, TCS, LTIMindtree and Infosys, FII stakes are 2-3 percentage points below the peak holding during rate hike cycle. For Tech Mahindra, the difference is as wide as 9 percentage points. With rate cycle turning, the view is big deal wins will soon resume from large clients
BUSINESS
Brokers breathe a sigh of relief as SEBI relaxes client fund rules
Under the revised framework, SEBI has removed one layer of fund movement entirely and has also relaxed the strict cutoff time of 6 PM.
BUSINESS
4 NGO listings by year-end; no progress on tax sops for donors yet: Ashish Chauhan
On December 13, SGBS Unnati Foundation became the first NGO to list on India's social stock exchange
BUSINESS
Eye on elections: Will FIIs flock to India and front-end investments?
With political uncertainty largely settled and global macros looking favourable for now, the buying trend of FIIs will accelerate in the months ahead of elections, racing past previous instances, say fund managers
BUSINESS
Not a bond, not a share: India's first social stock exchange listing a story of many wins and many losses
The social stock exchange will see NGOs get wider access to donors across the country.
BUSINESS
BNP Paribas exits Sharekhan with 8.5% return; sits on 6.3% return on Geojit, stake sale eyed
As per the latest shareholding pattern of Geojit, BNP Paribas holds 24.67 percent stake which is valued at about Rs 410 crore
BUSINESS
Nifty at 21k: Tata Motors, SBI among 19 stocks trading below long-term valuation
Financials like HDFC Bank, Bajaj Finance, IndusInd Bank, Kotak Mahindra Bank and State Bank of India are also trading below their 10-year average P/E
BUSINESS
SEBI ready to allow contentious tranche investments again, if AIFs self-regulate: Official
Though tranching is important for a well-functioning financial market, the market regulator had imposed restrictions on it as many banks used this method for evergreening of loans
