Page 11 - Latest Updates on Stock Market
Divgi TorqTransfer erases listing gains; slides 5% below issue price on NSE
The stock was listed with a 5 per cent premuim at Rs 620 on the NSE. This was over its issue price of Rs 590 per share
 "Divgi TorqTransfer erases listing gains; slides 5% below issue price on NSE")
Market turmoil leaves investors poorer by more than Rs 4.4 trillion
Domestic equity investors' wealth eroded by more than Rs 4.43 trillion as fears of a financial contagion triggered by one of the biggest bank failures in the US roiled market sentiments
 "Market turmoil leaves investors poorer by more than Rs 4.4 trillion")
YES Bank tanks 13% intra-day as 3-year shareholder lock-in period ends
Analysts at ICICI Securities believe near term risk include decision to write-down AT-1 bonds being challenged in court, which is currently stayed and supply overhang post expiry of stock lock-in
 "YES Bank tanks 13% intra-day as 3-year shareholder lock-in period ends")
Global Surfaces IPO opens today: GMP, subscription status, all details here
Global Surfaces IPO subscription status: According to BSE, as of 10:40 AM on Monday, the issue has been subscribed 0.04 times
 "Global Surfaces IPO opens today: GMP, subscription status, all details here")
Sona Comstar slumps 6% after 20% equity changes hands via block deal
At 09:15 am; nearly 118.76 million equity shares representing 20.3 per cent of total equity of Sona Comstar had changed hands on the BSE, the exchange data shows
 "Sona Comstar slumps 6% after 20% equity changes hands via block deal")
IndusInd Bank slips 7% as RBI reappoints MD & CEO for shorter tenure
RBI's approval for reappointment of MD & CEO being for a lower tenure compared to board approval, which was for three years, could keep stock under pressure in near term
 "IndusInd Bank slips 7% as RBI reappoints MD & CEO for shorter tenure")
Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008
Selling pressure seen in banking, IT, and new-age stocks; foreign investors expected to be cautious
 "Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008")
Eight of top-10 firms lose Rs 1.03 trn in market-cap; RIL, ICICI hit hard
Eight of the top 10 valued firms faced a combined erosion of Rs 1,03,732.39 crore in market valuation last week, with Reliance Industries and ICICI Bank taking the biggest hit
SVB chief Greg Becker sold $3.6 mn in stock days before bank's failure
The sale of 12,451 shares on Feb. 27 was the first time in more than a year that Becker had sold shares in parent company SVB Financial Group, according to regulatory filings
 "SVB chief Greg Becker sold $3.6 mn in stock days before bank's failure")
Adani group stocks gain for second week. add Rs 75,263 in market cap
This despite some group firms, including flagship Adani Enterprises, shedding some gains in past two trading sessions
 "Adani group stocks gain for second week. add Rs 75,263 in market cap")
No SVB-like scenario in India; banks are on a strong footing, say analysts
The sell-off in the banking pack, analysts said, was a knee-jerk reaction to the developments with US-based Silicon Valley Bank (SVB) that announced a share sale to shore up its finances
 "No SVB-like scenario in India; banks are on a strong footing, say analysts")
SVB crisis sends jitters through startup world: Here's what we know
Santa Clara-based SVB Financial Group announced that it sold $21 billion of securities from its portfolio. SVB Financial Group also said it was holding a $2.25 billion share sale to shore up finances
 "SVB crisis sends jitters through startup world: Here's what we know")
Equitas SFB slips 13% as new shares list post merger with Equitas Holdings
Total 789.53 million shares have been listed pursuant to the scheme of amalgamation of Equitas Holdings with Equitas Small Finance Bank
 "Equitas SFB slips 13% as new shares list post merger with Equitas Holdings")
Stocks to Watch: Wipro, Reliance, Ajanta Pharma, Infosys, IRB Infra, REC
Stocks to Watch: RIL arm Reliance Polyester has completed acquisition of polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex
Mixed day for Adani Group companies; AEL falls 4,2%, Adani Wilmar up 2.8%
The stock of Adani Power closed at Rs 196.05, Adani Transmission at Rs 860.85, Adani Green Energy at Rs 650.55 and Adani Total Gas at Rs 904.95 apiece on BSE
 "Mixed day for Adani Group companies; AEL falls 4,2%, Adani Wilmar up 2.8%")
How to approach IT stocks amid tighter monetary policy, recession fears?
According to Jefferies, analysts' consensus revenue growth estimates for CY24 have been lowered for top clients of all IT firms, barring Wipro, with the highest cuts for HCL Tech and Tech Mahindra
 "How to approach IT stocks amid tighter monetary policy, recession fears?")
SeQuent Scientific rallies 15% on terminating pact to acquire Tineta Pharma
In November 2022, SeQuent had announced the acquisition of Tineta Pharma for Rs 218 crore but the said transaction has not materialised
 "SeQuent Scientific rallies 15% on terminating pact to acquire Tineta Pharma")
Jindal Saw hits over 5-year high; zooms 94% in 3 months on healthy outlook
The company said that the future of the global steel pipe market looks promising with opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sectors
 "Jindal Saw hits over 5-year high; zooms 94% in 3 months on healthy outlook")
Stocks to Watch: Bharat Forge, Shoppers Stop, Gokaldas, Lotus Chocolate
Stocks to Watch: As per a report, Clear Wealth Consultancy Svcs LLP will likely sell 8.25 per cent stake via block deal in Gokaldas Exports today
 "Stocks to Watch: Bharat Forge, Shoppers Stop, Gokaldas, Lotus Chocolate")
Stocks to Watch: HAL, L&T, Allcargo Logistics, Zee Ent, Power Grid, NBCC
Stocks to Watch: Zee Entertainment has entered a settlement agreement with operational creditor Indian Performing Rights Society to settle all claims and disputes
 "Stocks to Watch: HAL, L&T, Allcargo Logistics, Zee Ent, Power Grid, NBCC")
