Price cut on petrol, diesel deflates OMC stocks
Shares of oil marketing companies come under pressure after a late-night sudden announcement of cutting diesel and petrol price by ₹2 each at retail outlets. Hindustan Petroleum Corporation slumped 6.24 per cent to ₹468.95 on the BSE, Indian Oil Corporation 5.46 per cent to ₹161.15 and BPCL by 3.74 per cent to ₹586.25, as analysts […]
Five firms raise ₹8 crore via social stock exchange listing
The National Stock Exchange’s (NSE) Social Stock Exchange (SSE) platform listed two more NPOs on Thursday — Swami Vivekananda Youth Movement (SVYM) and Transform Rural India — taking the total number of SSE listings to five. SVYM, which specialises in areas of education, health, socio-economic empowerment, environment and sustainability, has raised ₹1.55 crore, for a […]
HavenArk join hands with Zimtra to strengthen community trading
HavenArk, a leading trading community in Kochi, has announced a strategic partnership with Zimtra, a proprietary asset management firm. Leveraging HavenArk’s extensive trader network, the collaboration aims to usher in a new era of trading proficiency and economic empowerment. With Zimtra already allocating over $5 million to traders and a steadfast commitment to bolster financial […]
Bajaj Auto buyback offer oversubscribed 6.89 times
Bajaj Auto’s ₹4,000-crore buyback offer received a strong response from investors. The offer was oversubscribed 6.89 times according to the data available at BSE. The buyback that opened on March 6 closed on Wednesday. The company announced its intention to buyback up to 40 lakh shares at a face value of ₹10 each. In January, […]
Stocks that will see action today: 13 March 2024
The market regulator has ordered Vedanta Ltd to pay ₹77.62 crore to Scottish explorer Cairn for delay in payment of dividends, and also barred the firm’s entire board, including his brother Navin and daughter Priya, from accessing the capital market for the same. In a stock exchange filing, Vedanta said it received the order on […]
India’s pain is Pakistan’s gain in global maize market as exports drop to a trickle
Pakistan has gained at India’s cost in the world corn (maize) market, particularly South-East Asia, as domestic prices are ruling higher than the global prices, exporters and traders said. This is in view of demand from the poultry and starch sectors besides for ethanol production amidst drop in the coarse cereal’s production this crop year […]
Small-caps wilt under selling pressure on valuation concern
Broader market came under heavy selling pressure on Monday, amid talk of potential bubble in the small- and mid-cap segments and stiff valuation. The BSE Sensex and NSE Nifty declined around 0.7-0.8 per cent while the slide was deeper in the case of BSE SmallCap that plunged 2.01 per cent. Also read: There are pockets […]
Crude oil futures decline as China’s imports fall
Crude oil futures traded lower on Monday morning as the recent data from China showed a decline in imports. At 9.52 am on Monday, May Brent oil futures were at $81.55, down by 0.65 per cent, and April crude oil futures on WTI (West Texas Intermediate) were at $77.47, down by 0.69 per cent. March […]
SEBI notifies regulations for small and medium REITs
Securities and Exchange Board of India has notified the regulations for small and medium real estate investment trusts and specified that investment managers of such REITs should have a minimum net worth of ₹20 crore and the REITs can raise a minimum of ₹50 crore from at least 200 unit holders. Also read: Editorial. SEBI […]
India to see record FPI inflows in FY24 on strong economic growth
The current fiscal year FY24 is set to end with record net inflows from Foreign Portfolio Investors (FPIs) into the Indian market, with net investments close to ₹12,000 crore ($1.4 billion) in March first week, after a tepid show in January and February. Also read: UAE’s exit from FATF grey list to boost FPI flows, […]