Top Section
Explore Business Standard
Don’t miss the latest developments in business and finance.
Stock Exchange
Asia's oldest bourse gets battle-ready under new chief
Small stocks have lagged behind the equity benchmark Sensex in 2022-23, falling nearly 6 per cent amid a host of negative factors like higher interest rate regime, high inflation and the Russian-Ukraine war. According to market analysts, it was a tumultuous year for the Indian equity market. The Russian-Ukraine war made the first quarter of the Indian equity market particularly difficult, but the second and third quarters witnessed a respectable rebound, they noted. Headwinds such as high inflation, the Russia-Ukraine war and higher interest rates hit investors' appetite for small stocks. With just one day of trading left in the current fiscal, the BSE smallcap gauge has fallen by 1,616.93 points or 5.73 per cent so far in 2022-23. The midcap index is down 270.29 points or 1.12 per cent in the 2022-23 financial year. In comparison, the BSE Sensex has declined 608.42 points or 1.03 per cent. "Many factors contributed to the underperformance of the Indian stock market in FY23. The
The total amount raised through initial public offerings (IPOs) more than halved to Rs 52,116 crore in FY23 from an all-time high collection of Rs 1,11,547 crore in the previous fiscal, according to an analysis. According to Prime Database, just 37 companies hit the main board listing process in FY23, much lower than 53 IPOs in FY22. Pranav Haldea, managing director of Prime Database Group, said Rs 20,557 crore which is 39 per cent of the total amount raised in FY23 was by LIC alone, without which the IPO fundraising would have been just Rs 31,559 crore in the year. Yet, FY23 is still the third highest in terms of IPO fund-raise, he said. Overall public equity fundraising also dropped by 56 per cent to Rs 76,076 crore in the reporting year from Rs 1,73,728 crore in FY22. While IPOs were worth Rs 54,344 crore (including SME issues) in the year, total fund raising through the capital markets stood at Rs 85,021 crore, of which Rs 11,231 crore were from the OFS (offer for sale) route,
A number of American banks had failed recently or came under pressure
Action after co fails to meet 25% public float
Silicon Valley Bank crisis: How has the bank's failure affected other banks and their stocks worldwide? Read more to find out
The move effective from March 8, will ease trading restrictions, such as higher margin requirements, while dealing in shares of AEL
What are Ajay Banga's challenges at the World Bank? What makes Indians so successful as global CEOs? Where is India placed on FIIs' radar? What is a social stock exchange? All answers here
NSE asks asked brokers to check for suspicious transactions as derivative activity surges
Markets regulator Sebi on Tuesday proposed an institutional mechanism that will require stock brokers to put in place systems for detection and prevention of market abuse. Currently, there are no specific regulatory provisions that cast responsibility on brokers to have a system to prevent market abuse. In a consultation paper, Sebi has proposed a regulatory framework which will require broking firms as well as their senior management to be accountable for detection and prevention of fraud or market abuse, by setting up robust surveillance and control systems. In addition, the regulator has suggested that brokers should have appropriate escalation and reporting mechanisms. Sebi has also listed out probable instances of fraud or market abuse which a broker's system should be equipped to monitor. The probable instances can include creation of misleading appearance of trading, price manipulation, front running, insider trading and mis-selling. Unauthorised trading, including facilita
Leading stock exchange BSE on Tuesday reported a 16 per cent decline in net profit to Rs 51.6 crore in three months ended December 2022. In comparison, the exchange had posted a net profit of Rs 61.3 crore in the year-ago period, BSE said in a statement. However, the bourse's revenue from operations grew 6 per cent to Rs 204 crore in the quarter under review from Rs 192.8 crore in the October-December quarter of the preceding fiscal 2021-22. "Overall, BSE reported a sustained third quarter result amidst a difficult market environment. 2022 was a period of transition for the BSE, and as we embark on a new journey in the new Financial Year, I believe that a balanced business model will enable us to grow much higher," Sundararaman Ramamurthy, MD and CEO of BSE, said. In addition, the board of BSE has approved the divestment of 2.5 per cent stake of BSE in Central Depositary Services Ltd (CDSL) towards meeting regulatory norms. The exchange's mutual distribution platform, BSE StAR MF,
The Qualified Stock Brokers, or QSBs, will be required to analyse client behaviour and trading patterns, and detect unusual activity
An NYSE employee failed to properly shut down Cermak's disaster-recovery system - leading to a disaster
New BSE chief bats for competition, at least a duopoly in equity market space
Shares of Sah Polymers on Thursday ended with a premium of over 37 per cent on the stock exchanges against the issue price of Rs 65. The stock made its debut at Rs 85, reflecting a jump of 30.76 per cent from the issue price on the BSE. Later, it rallied 37.30 per cent to settle at Rs 89.25 apiece. On the NSE, the shares began the trade at Rs 85 and finally ended at Rs 89.25 each. In volume terms, 4.16 lakh shares of the firm were traded on the BSE and 41.82 lakh shares on the NSE during the day. The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel. Meanwhile, in the broader market, the 30-share BSE benchmark ended 147.47 points or 0.25 per cent lower at 59,958.03. The initial public offer of Sah Polymers was subscribed 17.46 times last week. The initial share-sale had a price range for
Sebi's decision is aimed at enhancing liquidity in the bond market. It will also give an opportunity to investors to hedge their positions
Shares of Radiant Cash Management Services made its market debut with nearly 10 per cent premium against the issue price of Rs 94. The stock listed at Rs 99.30, registering a gain of 5.63 per cent against the issue price on the BSE. It further jumped 15.37 per cent to Rs 108.45. At the NSE, shares of the company made its debut at Rs 103, higher by 9.57 per cent. The company commanded a market valuation of Rs 1,090.02 crore on the BSE in initial trade. The initial public offer of Radiant Cash Management Services was subscribed just 53 per cent last month. The Rs 388-crore initial share-sale had a price range of Rs 94-99 a share. In the broader market, the BSE benchmark was trading 409.93 points or 0.67 per cent lower at 60,884.27. Radiant Cash Management Services (RCMS) was founded in March 2005. The company's clients include foreign, private, and public sector banks, and the end-user of its services include some of the largest e-commerce companies, retail chains, NBFCs, insuran
Sebi has approved the phasing out of buybacks through the stock exchange route and chalked out mechanisms for addressing lapses at market infrastructure institutions. How will it affect shareholders?
Markets regulator Sebi on Tuesday decided to gradually phase out buyback of shares by companies through the stock exchange route and also approved steps to boost governance at stock exchanges and other market infrastructure institutions. These were among the proposals approved by Sebi board during its meeting on Tuesday. Sebi Chairperson Madhabi Puri Buch said the regulator has chosen the tender offer route for share buyback as the present mode is vulnerable to favouritism. "This is a glide path and will lead to the phasing out of the present buyback mode (through stock exchange route)," she told reporters here. Currently, for share buyback, companies have both the options of stock exchange and tender offer. Besides, Sebi board has decided to reduce time taken for registration of FPIs to facilitate ease of doing business. Norms will also be amended to facilitate sustainable finance in the country and curb 'greenwashing'.
There were similar reports in August 2022 and UTI AMC had then denied having any knowledge about it