Tag: SEBI

Copper up on rising spot demand

Copper up on rising spot demand

17/10/2016 16:17

Copper futures rose during the evening trade in the domestic market on Monday amid a firming global trend and pick up in spot demand.

Marketmen attributed the rise in copper futures to a firming trend in base metals at the London Metal Exchange (LME). Further, rising demand from consuming industries at domestic spot markets supported the upside. At the MCX, copper futures for November 2016 contract is trading at Rs 314.05 per kg, up by 0.32 per cent, after opening at Rs 313.10, against a previous close of Rs 313.05. It touched the intra-day high of Rs 315.20 (at 04:20 PM).

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Post Session-Sensex logs modest gains in choppy trade

30/09/2016 16:33

Indian equity benchmarks ended higher on Friday but gains were restricted by caution in the wake of escalating tensions between India and Pakistan after the Indian Army conducted Surgical Strikes in the Pakistani-ruled Kashmir on Wednesday night targeting specific militant hideouts and killing militants that were planning to infiltrate the country and carry out attacks in major cities.

The 30-share SENSEX closed at 27,865.96, up by 38.43 points or by 0.14 per cent and the NSE Nifty ended at 8,611.15, up by 19.9 points or by 0.23 per cent. The BSE Sensex touched intraday high of 27,955.21 and intraday low of 27,716.78 The NSE Nifty touched intraday high of 8,637.15 and intraday low of 8,555.2.

Further, worries that a brewing crisis at German lender Deutshe Bank may spark a global financial contagion also curbed risk taking appetite. Traders were also eying the RBI’s monetary policy meet on Tuesday amid hopes of a 25 bps interest rate cut.

The top gainers of the BSE Sensex pack were GAIL (India) Ltd. (up 3.06 per cent), Mahindra & Mahindra Ltd. (up 3.06 per cent), Oil And Natural Gas Corporation Ltd. (up 2.19 per cent), Tata Steel Ltd. (up 1.78 per cent) and Tata Motors Ltd. (up 1.62 per cent), among others.

On the Sectoral front, Realty and Oil & gas rose 3.16 per cent and 1.7 per cent, respectively.

The Market breadth, indicating the overall health of the market, was strong. On BSE out of total shares traded 3037, shares advanced were 2131 while 707 shares declined and 199 were unchanged.

Asian stocks tumbled on Friday as fears rose that the troubles of Deutshe Bank which faces a USD 14 billion penalty could spread to financial markets worldwide. Shares of Deutsche Bank hit a record low and its credit risk hit a record as reports surfaced that some hedge funds were moving to reduce their financial exposure to the bank. Chinese shares rose as a country’s manufacturing gauge edged up to 50.1 in September from 50 in August, Hang Seng tumbled nearly 2 per cent and Nikkei 225 fell over 1.4 per cent amid soft consumer spending and inflation data.

RBL Bank gets Sebi’s approval for IPO

RBL Bank gets Sebi’s approval for IPO

02/08/2016 12:40

RBL Bank has received SEBI’s approval for its long-pending IPO for which it had filed draft papers nearly a year ago, said the media report.

The bank, which had filed draft papers with SEBI in June last year, seeking approval to float IPO, received clearance from the regulator on July 27, according to the latest update.

The Securities and Exchange Board of India (SEBI) withheld approval to RBL’s IPO as the regulator was examining past violation by the private sector lender, reported PTI.

RBL’s IPO plans was hanging in balance for a long time due to the outstanding cases.

The approval comes after SEBI settled an outstanding case against the lender for alleged violation of disclosure norms with regard to an earlier issuance of shares to select investors for over Rs 600 crore.

The settlement involved payment of Rs 47.6 lakh towards ‘monetary settlement charges’, as also a commitment by the bank that it would give an exit opportunity in its IPO to the investors to whom shares were issued earlier in rights issues, said the PTI report.

As per the draft papers, the IPO comprises fresh issue of equity shares worth Rs 1,100 crore and offer for sale of up to 17,568,408 scrips by existing shareholders including Beacon India Private Equity Fund and GPE (India) Ltd.

RBL Bank had reportedly raised Rs 488 crore in a pre-IPO round of fund raising last year.

The proceeds of the IPO would be used to shore-up the equity capital base, to meet future capital requirements and to ensure compliance with Basel III and other Reserve Bank’s guidelines.

According to RBL Bank (formerly Ratnakar Bank Ltd), the listing of equity shares will enhance the visibility and brand name among existing and potential customers.

Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India and Morgan Stanley India Company are the global coordinators, while HDFC Bank, ICICI Securities, IDFC Securities, IIFL Holdings and SBI Capital Markets are the book running lead managers of the issue.

Markets open higher in early trade

28/07/2016 09:26

The key domestic benchmark indices opened in a positive terrain in the morning trading session amid hopes for the passage of the Goods and Services Tax (GST) constitution amendment bill during the ongoing monsoon session of parliament.

However, the gains at local bourses may be restricted as investors may resort to a cautious approach ahead of the July derivatives expiry and also due to a sell-off across markets in Asia following the US Federal Reserve’s decision overnight with the world’s top central bank reiterating its intention to tighten interest rates gradually even as the US economy shows signs of improvement.

At 09:20 AM, the Bombay Stock Exchange bellwether Sensex was at 28083.74 up by 59.41 points or by 0.21 per cent, while the NSE Nifty was at 8636.95 points, trading higher by 21.15 points or by 0.25 per cent.

The BSE Sensex touched an intraday high of 28108.78 and an intraday low of 28073.18 while the NSE Nifty touched an intraday high of 8636.95 and an intraday low of 8636.95

The top gainers of the BSE Sensex pack were Bharti Airtel Ltd. (Rs. 377.20,+1.25 per cent), ICICI Bank Ltd. (Rs. 272.65,+1.02 per cent), Asian Paints Ltd. (Rs. 1070.60,+0.83 per cent), Adani Ports & Special Economic Zone Ltd. (Rs. 230.30,+0.81 per cent), Oil And Natural Gas Corporation Ltd. (Rs. 224.50,+0.70 per cent), among others.

Meanwhile, Tata Steel Ltd. (Rs. 356.00,-1.90 per cent), NTPC Ltd. (Rs. 157.65,-0.85 per cent), Infosys Ltd. (Rs. 1080.00,-0.69 per cent), Housing Development Finance Corporation Ltd. (Rs. 1381.00,-0.49 per cent), Hindustan Unilever Ltd. (Rs. 900.60,-0.33 per cent), were among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 1098 shares traded, 799 shares advanced, 251 shares declined while 48 were unchanged.

On the global front, Asian stocks were trading mixed today as traders were cautious ahead of the Bank of Japan policy decision on Friday while digesting the outcome of the FOMC meet on Wednesday. The US markets ended mixed in the previous trading session as traders assessed the FOMC decision for clues over the timing of the next rate hike.

Texmaco Rail & Engineering allots 12,500 equity shares

Texmaco Rail & Engineering allots 12,500 equity shares

26/07/2016 11:20

Texmaco Rail & Engineering Ltd said that it has allotted 12,500 equity shares under the Texmaco Employee Stock option Scheme.

“The compensation committee of the company at its Meeting held on 25th july 2016 has allotted 12,500 Equity Shares of Re. 1/- each pursuant to exercise of option by its employees under the Texmaco Employee Stock option Scheme,” the company said in a filing to the Bombay Stock Exchange.

Consequent to the allotment, the paid up share capital of the company has increased from 21,03,21,598 Equity Shares of Re. 1/- each to 21,03,34,098 Equity Shares of Re. 1/- each.

Meanwhile, shares of the company were trading at Rs 104 apiece, up 0.73 per cent from the previous close at 11:23 hours on BSE.

Carnation Indust – Statement of Investor Complaint under Reg. 13(3) of SEBI (LODR)

Regulations, 2015 for Quarter ended June 3
04/07/2016 12:56

Carnation Industries Ltd has informed BSE regarding Quarterly Statement on Investor Complaints / Grievances Redressal Mechanism for the Quarter ended June 30, 2016, under Regulation 13(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Orissa Sponge Iron & – Statement of Investor Complaint under Reg. 13(3) of SEBI (LODR) Regulations, 2015 for Quarter ended Ma

30/06/2016 10:43

Orissa Sponge Iron & Steel Ltd has informed BSE regarding Quarterly Statement on Investor Complaints / Grievances Redressal Mechanism for the Quarter ended March 31, 2016, under Regulation 13(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Markets extend gains: Tata Motors, ICICI Bank shares advance

30/06/2016 10:27

The key domestic benchmark indices were trading in a positive terrain in the morning trading session tracking a firm trend across markets in Asia and a bullish finish at Wall Street overnight as jitters over the economic fallout from Britain’s vote to exit from the EU calmed amid optimism that global central banks may step up support to financial markets, bolstering risk taking appetite.

The hopes of rise in consumer demand with the government approving the proposals of Seventh Pay Commission kept supporting the markets.

However, volatility may remain high at local bourses as traders roll over their positions ahead of the expiry of the June Futures & Options (F&O) contracts today.

At 10:20 AM, the Bombay Stock Exchange bellwether Sensex was at 26984.58 up by 244.19 points or by 0.91 per cent, while the NSE Nifty was at 8274.85 points, trading higher by 70.85 points or by 0.86 per cent.

The BSE Sensex touched an intraday high of 26994.34 and an intraday low of 26902.79 while the NSE Nifty touched an intraday high of 8277.2 and an intraday low of 8253.25

The top gainers of the BSE Sensex pack were Tata Motors Ltd. (Rs. 460.85,+3.08 per cent), ICICI Bank Ltd. (Rs. 241.95,+2.30 per cent), NTPC Ltd. (Rs. 155.00,+2.24 per cent), Dr. Reddy’s Laboratories Ltd. (Rs. 3342.00,+2.11 per cent), Axis Bank Ltd. (Rs. 527.30,+1.92 per cent), among others.

Meanwhile, Infosys Ltd. (Rs. 1175.70,-0.07 per cent), was among the top losers on BSE.

The Market breadth, indicating the overall strength of the market, was strong. On BSE out of total 2086 shares traded, 1558 shares advanced, 424 shares declined while 104 were unchanged.

On the global front, Asian stocks were trading higher today following overnight gains on Wall Street as jitters eased after the UK’s vote to leave the European Union (EU) spurred global sell-off. US stocks registered strong gains in the previous trading session lifted by gains in oil prices, as global markets recovered for a second day from their post-Brexit plunge.

Govt to set up monetary policy committee

Govt to set up monetary policy committee

27/06/2016 15:56

In a bid to maintain price stability, the government of India has initiated process to constitute monetary policy committee (MPC) under the Reserve Bank of India Act, 1934.

“With a view to maintain price stability, while keeping in mind the objective of growth, the RBI Act has been amended by the Finance Act, 2016 to provide for a statutory and institutionalised framework for a Monetary Policy Committee (MPC),” the ministry of finance said in a statement.

A committee-based approach will add lot of value and transparency to monetary policy decisions, the FinMin said.

Out of the six Members of MPC, three Members will be from the Reserve Bank of India (RBI), including the Governor, who will be the ex-officio Chairperson, the Deputy Governor, RBI and one officer of RBI. The other three Members of MPC will be appointed by the Central Government, on the recommendations of a Search-cum-Selection Committee, which will be headed by the Cabinet Secretary.

These three Members of MPC will be experts in the field of economics or banking or finance or Monetary policy and will be appointed for a period of 4 years and shall not be eligible for re-appointment.

The meetings of the MPC shall be held at least 4 times a year and it shall publicise its decisions after each such meeting, it said.

The Government has decided to bring the provisions of amended RBI Act regarding constitution of MPC into force on 27th June, 2016 so that statutory basis of MPC is made effective. The Rules governing the Procedure for Selection of Members of Monetary Policy Committee and Terms and Conditions of their Appointment and factors constituting failure to meet inflation target under the MPC Framework have also been notified on 27th June, 2016, it added.

Zinc down on weak physical demand

Zinc down on weak physical demand

24/06/2016 10:31

Zinc futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators exited positions in the industrial metal amid weak physical demand for zinc in the domestic spot market. Further, traders are nervously eying the outcome of the EU referendum today with British voters deciding whether to keep their country in the trade block or exit the European Union. A ‘leave’ vote may instill global financial market volatility, hurting demand for global commodities. Meanwhile, a private sector gauge in the Euro area slumped to a 17-month low of 52.8 in June from 53.1 in May, but remaining above the neutral 50-mark.

Zinc futures for June 2016 contract, at MCX, were trading at Rs 135.10 per kg, down by 1.57 per cent after opening at Rs. 136.25, against the previous closing price of Rs. 137.25. It touched the intra-day low of Rs. 134.65. (At 10:33 AM).