Govt to sell up to 7% shares in HUDCO
The government on Tuesday said that it will divest up to 7 per cent of its equity in Housing & Urban Development Corporation (HUDCO) on October 18-19. At the floor price of ₹79, the government will get ₹553 crore. The floor price shows 12 per cent discount on Tuesday’s closing price of ₹89.92. With this […]
MCX faces teething trouble in new software launch
The launch of the new commodity derivatives platform by MCX faced teething-trouble with connectivity issues, delay in price updates and receiving trade confirmation. Sensing an opportunity to attract trading volumes, the rival National Stock Exchange launched 13 new commodity derivatives contracts including gold and base metals on Monday. With this launch, NSE offers 28 products […]
HDFC Bank trades weak ahead of Q2 numbers
– Shares of industry leader HDFC Bank opened lower today and were trading 0.4-0.5 per cent down, ahead of the lender’s Q2 financial results, set to be declared post market hours on Monday. HDFC Bank and Federal Bank are kick-starting the Q2 results season for the banking sector. As per provisional numbers declared so far, […]
.jpg "Overseas Indian start-ups call on SEBI, FinMin for India listing")
Overseas Indian start-ups call on SEBI, FinMin for India listing
A clutch of start-ups incorporated overseas have knocked on the doors of the Finance Ministry and the Securities and Exchange Board of India (SEBI) to allow them to list in India. There have been several discussions on the matter in the past few weeks involving start-up founders, bankers, lawyers and officials from various government arms, […]
India to add 56.6 mtpa of crude oil refining capacity by 2030
India, the world’s fourth largest refiner, will add as much as 56.6 million tonnes per annum (mtpa) of crude oil refining capacity in the next seven years of which 84 per cent will be through brownfield expansion. At present, the world’s third largest crude oil consumer has a cumulative refining capacity of almost 254 mtpa, […]
Sebi tweaks anti-money laundering guidelines
The Securities and Exchange Board of India (SEBI) on Friday tweaked guidelines pertaining to anti-money laundering standards, whereby partners holding a 10 per cent stake in a firm will come under the definition of beneficial owners. Earlier, the requirement was 15 per cent. The development comes after the government amended the Prevention of Money Laundering […]
Govt framing eligibility norms for direct listing of firms overseas
The proposed rules for enabling direct listing of Indian companies in overseas stock exchanges will specify an eligibility criteria for entities availing such a facility. The criteria could include minimum period of operations for a company, but unlikely to stipulate adherence to any minimum governance standards for any overseas float, official sources said. The aspect […]
Crude oil up as US imposes sanctions on oil tankers carrying Russian consignments
Crude oil futures traded higher on Friday morning as the US imposed the first sanctions on owners of tankers carrying Russian oil priced above $60 a barrel to punish seaborne oil exports from Russia. At 9.52 am on Friday, December Brent oil futures were at $86.58, up by 0.67 per cent, and November crude oil […]
Groww overtakes Zerodha to become number one broker in terms of active clients
Discount broker Groww has nudged past Zerodha to become the country’s largest broker in terms of number of active investors. Groww had 66.28 lakh active investors at the end of September, with a 19.9 per cent market share. Zerodha had 64.79 lakh investors, with a 19.4 per cent market share in the same period. Groww […]
TCS Q2 results: Muted as expected
September quarter revenue growth for TCS in constant currency (CC) terms was at just 2.8 per cent. Same time last year, it was at 15.5 per cent. This reflects a stark deceleration or a near halt of the post-Covid growth that had earlier buoyed sentiment around the sector. However, these results were not unexpected. The […]