Brent crude above $85 a barrel on fears over tightening supplies
Crude oil futures touched a near three-month high on Tuesday morning on concerns over tightening supplies in the coming days. However, futures traded slightly lower in early trade on Tuesday morning. At 9.55 am on Tuesday, October Brent oil futures were at $85.25, down by 0.21 per cent, and September crude oil futures on WTI […]
Domestic natural gas price fixed at $7.85/mBtu for August 2023
The government has fixed a price of $7.85 per million British thermal units (mBtu) for the natural gas produced from the legacy fields of ONGC and Oil India for August 2023. However, the Petroleum Planning and Analysis Cell (PPAC) said that the price from the nomination fields of both the Oil PSUs will be subject […]
SEBI may bring equity derivatives segment under long-term additional surveillance measures
After asking stockbrokers to display ‘risk disclosures’ for F&O clients, SEBI is now planning to put equity derivatives segment under long-term additional surveillance measures (ASM). ASM framework already exists for the equity markets, and it protects investor interest by placing scrips under restriction to prevent market speculation and manipulations. The stocks are moved to the […]
FedFina to raise up to ₹1,400 crore from IPO this year
Federal Bank subsidiary Fedbank Financial Services (FedFina) is aiming to raise up to ₹1,400 crore through an Initial Public Offering (IPO) by the end of 2023, a top official at its promoter entity Federal Bank has said. The Non-Banking Finance Company (NBFC) arm of the South-based bank re-filed its Draft Red Herring Prospectus for an […]
Nuvama Private sees Nifty 50 scaling to 22000-23000 levels in 12 months
Nuvama Private, the private banking arm of Nuvama Group, a wealth management firm, sees Nifty50 scaling up to 22,000-23,000 levels in the next 12 months, Alok Saigal, President & Head, has said. Saigal sees Foreign Portfolio Investors (FPI) inflows—which were close to ₹80,500 crore between April and July this year—to remain the primary growth driver […]
Motilal Oswal, Raamdeo Agarawal to donate 5% each of MOFSL shares for charity
Motilal Oswal and Raamdeo Agarawal, promoters of the Motilal Oswal Financial Services (MOFSL) will donate five per cent of equity stake by each of them for charitable purpose. They will donate a total of approximately 1.48 crore shares. In a disclosure to the exchanges, they said, “It will be our endeavour to spend the entire […]
Rupee falls 32 paise to close at 82.24 against US dollar
The rupee plunged 32 paise to close at 82.24 (provisional) against the US dollar on Friday amid renewed foreign fund outflows and negative trends in domestic equity markets. An elevated level of crude prices nearing $84 a barrel also weighed on the domestic unit even as the American currency gained strength on the back of […]
SEBI mandates FPIs to disclose Legal Entity Identifier code
Market regulator SEBI has mandated all foreign portfolio investors (FPIs) to disclose their Legal Entity Identifier (LEI) code. This code is a unique global 20-character code to identify legally distinct entities that engage in financial transactions. LEI is conceived as a key measure to improve the quality and accuracy of financial data systems for better […]
Tech Mahindra’s shares dive after disappointing Q1 results
Tech Mahindra’s shares went down by 4.37 per cent as the company’s Q1FY24 performance raised concerns among investors. The company reported a significant decline in its consolidated net profit for the April–June quarter of fiscal year 2023–24. The net profit stood at ₹692.5 crore, marking a sharp 38 per cent decrease compared to ₹1,131 crore […]
AB Sun Life AMC profit up 80 pc on higher AUM
Aditya Birla Sun Life Asset Management Company has reported that net profit increased 80 per cent in June quarter to ₹185 crore against ₹103 crore logged in the same period last year. Income was up 42 per cent at ₹389 crore (₹274 crore) as the asset under management (AUM) increased. Expenses increased 12 per cent […]