SEBI gives nod for change in HDFC AMC sponsor
HDFC Asset Management Company has received final SEBI approval for change in ownership after the merger of HDFC with HDFC Bank. HDFC AMC was promoted by HDFC Investments and HDFC Holdings, wholly owned subsidiaries of Housing Development Finance Corporation. As per the proposed merger, both the subsidiaries will be merged with HDFC. Following this, HDFC […]
Rupee gains 1 paisa to 82.16 against US dollar
The rupee gained 1 paisa to 82.16 against the US dollar in early trade on Friday, tracking a weak greenback against major currencies and positive sentiment in the domestic equities market. Forex traders said the downward movement of crude oil prices also supported the local unit. At the interbank foreign exchange, the domestic unit opened […]
SEBI bans former CARE Ratings chief Rajesh Mokashi for ratings manipulation
Rajesh Mokashi, former MD & CEO of CARE Ratings, has been barred by market regulator SEBI for two years from associating with stock market-related entities after it was found that he was exercising extrajudicial pressure to manipulate credit ratings that helped top corporate lure investors to raise thousands of crores. SEBI has accused Mokashi of […]
ICICI Securities Q4 net profit declines 23%
ICICI Securities (I-Sec) has reported a y-o-y drop of nearly 23 per cent in its consolidated net profit at ₹262.68 crore for the quarter ended March 2023. A year ago, it had posted a PAT of ₹340.29 crore. Total Income for Q4 FY23 to dipped, albeit marginally, to ₹884.78 crore (₹891.67 crore). The drop in […]
Confusion over TRQ may impact edible oil market: SEA
The Solvent Extractors’ Association (SEA) of India has said the confusion over the TRQ (tariff rate quota) for the import of crude sunflower oil and soyabean oil may impact edible oil availability in the market. In his monthly letter to the members of SEA of India on Wednesday, Ajay Jhunjhunwala, President of SEA of India, […]
Singapore to gift Nifty derivatives IFSC platform
The two-decades old stigma that the foreign portfolio investors (FPIs) decided India’s market direction in the off-shore tax haven is likely to be washed away as the trading of the country’s most popular share index Nifty will be discontinued on the Singapore Stock Exchange (SGX) from July and instead will be launched at the Gujarat International Finance-Tec […]
Stocks that will see action today: April 18, 2023
3i Infotech has received a Letter of Acceptance from Indian Oil Corporation Limited (IOCL) pertaining to Managed Services for the Data Center IT Infrastructure as part of its contract renewal in the new financial year. The total contract value is at ₹16.29 crore for 3 years. Kilburn Engineering has executed an MoU with Idreco S.A. (a […]
Meghmani Organics stocks fall after fire at pigments plant at Panoli
Meghmani Organics Limited informed about a fire incident at its Pigment Plant in the Panoli GIDC area in the Bharuch district of Gujarat on Sunday. The company shares took a beating on Monday after the fire reports. In a regulatory filing on Monday, the company informed that a fire broke out in the Finished Goods […]
Passive funds’ AUM grows 34% in FY23, nears ₹7-lakh crore
The total assets under management (AUM) of passive mutual funds is nearing ₹7-lakh crore as a growing number of investors are turning towards passive investing amid the volatility in markets and the constant underperformance of actively managed funds. The total AUM of passive funds grew 34 per cent to ₹6.97-lakh crore as of March 2023 […]
Inflation data, earnings, global trends to guide market movement this week: Analysts
WPI inflation data for March, quarterly earnings, global trends and foreign fund trading activity are major factors that will drive equity markets this week, analysts said. Investors would also focus on the movement of crude oil prices and the trend in the rupee against the US dollar. Wholesale Price Index (WPI) inflation data for March […]