SAT not happy with SEBI’s order against Punit Goenka
The Securities Appellate Tribunal (SAT) on Wednesday said that it is ‘not satisfied’ with the Securities and Exchange Board of India’s (SEBI’s) recent confirmatory order against Zee’s former MD CEO, Punit Goenka, that barred him from holding any key managerial position in Zee group companies. SEBI’s confirmatory order from August 14 has essentially barred Punit […]
Stocks that will see action today: August 30, 2023
Zomato to be in spotlight on media reports indicating stake sale. SoftBank Vision Fund (SVF Global) is likely to offload 1.17 per cent stake (10 crore shares) in Zomato for Rs 940 crore via a block deal at Rs 94 a share. Mumbai Metro One Private Limited (MMOPL), a joint venture of Reliance Infrastructure Limited with Mumbai […]
Metal stocks drive Indian shares higher
Benchmark indices ended marginally higher on Tuesday, driven by gains in metal stocks on expectations of demand recovery in top consumer China. The Nifty 50 index settled 0.19 per cent higher at 19,342.65 at 3:30 pm, while the BSE Sensex gained 0.12 per cent to 65,075.82. Eight of the 13 major sectoral indexes logged gains, […]
Bharat Forge’s shares rise on securing contract worth ₹287 crore
Bharat Forge Ltd.’s shares were up by 2.58 per cent after the company reported that Kalyani Rafael Advanced Systems Private Limited, a joint venture between Kalyani Strategic Systems Limited (a wholly owned defence subsidiary of Bharat Forge Limited) and Rafael Advanced Systems Limited of Israel, has secured a contract valued at Rs 287.51 crore. The […]
Crude oil down despite China’s move to lower duty on stock trading
Crude oil futures traded lower on Monday morning despite China’s move to bring down stamp duty on stock trading. At 9.52 a.m. on Monday, November Brent oil futures were at $83.80, down by 0.18 per cent; and October crude oil futures on WTI (West Texas Intermediate) were at $79.77, down by 0.08 per cent. Also […]
Implementing cotton quality control order: Challenges and opportunities
Quality forms the bedrock of any thriving industry, serving as the fundamental building block for success. This truth resonates deeply within India’s textile sector – a key driver of the country’s economy, generating employment opportunities and contributing substantially to exports. Despite its robust farm-to-fashion framework, there is now a greater emphasis on product quality to […]
Investor eyes glued on IPOs with new issues for ₹6,000 cr to hit market soon
With valuations in the secondary market turning red hot, investors are flocking to the primary market wooed by right pricing of issues and hefty listing gains. In fact, the enthusiasm to invest in IPOs, which started with the recent SME issues, has now caught up with the main board IPOs in recent times particularly after […]
KFin Tech shares hit record high on Jefferies’ upgrade
Shares of KFin Technologies surged 14.4 per cent intraday on Friday to touch a record high of ₹439.70 after advisory firm Jefferies assigned a ‘buy’ rating on the stock pegging rise in the share price at 30 per cent. The stock later pared some gains to end 11.7 per cent higher at ₹429.25 on the […]
Rubber Board urges tyre makers to resume domestic purchase
The Rubber Board has urged tyre manufacturers to resume domestic purchases of natural rubber (NR) at the earliest and support growers and dealers from further losses and stabilising market prices. Expressing concern over the current market situation, M Vasanthagesan, Executive Director, said NR prices have been declining since May despite increase in production and consumption […]
Weak global cues set tone for Sensex, Nifty with expected gap-down opening
Domestic markets are likely to see a strong gap-down opening on Friday amid weak global cues. The US Stocks overnight slumped sharply on healthy job data. Major US indices crashed led by Nasdaq that slumped nearly 2 per cent. S&P 500 and the Dow Jones Industrial Average lost over one per cent. Gift Nifty at […]