Posts

Showing posts with the label BSE

TCS Board clears Rs 16,000 cr share buyback; biggest in India

Image
The buyback size works out to 2.85% of firm's paid up equity capital, at Rs 2,850 a share Tata Consultancy Services' (TCS')   board of directors has approved a proposal to buyback up to 5,61,40,351 equity shares of the company for an aggregate amount not exceeding Rs 16,000 crore, the company informed BSE in a filing. The buyback size works out to 2.85 per cent of the company's total paid up equity share capital, at Rs 2,850 per equity share. "The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism in accordance with the provisions contained in the Sebi (Buy Back of Securities) Regulations, 1998, and the Companies Act, 2013, and rules made thereunder," the filing said. Further, the buyback size does not include any expenses incurred or to be incurred for the buyback like filing fees, advisory fees, public announcement publication expenses, print...

Brexit, note ban, Trump and more: 10 events that moved the markets in 2016

Image
After a roller-coaster year, Indian indices set to end 2016 with little gains Breaking News   - The year 2016, indeed, has been a year of many surprises. From Britain’s unexpected vote to exit the European Union to Republican candidate Donald Trump’s upset victory in the US Presidential election, from Raghuram Rajan’s decision of not seeking a second term as the Reserve Bank of India (RBI) governor to India’s sudden surgical strike on Pakistan – the Indian stock market dealt with all these shocks through   Markets 2016 . The biggest of them all, however, was the government’s call towards the end of the year to demonetise Rs 500 and Rs 1,000 currency notes. After 12 months of a roller-coaster ride, the market now seems poised to end the calendar year at almost the same level as at the start of 2016. As at close on Tuesday, the BSE benchmark Sensex was merely 96 points, or 0.4%, higher at 26,213.44, and the broader National Stock Exchange Nifty was up 86 points, or 1%, a...

Mandhana Industries Surges On Listing Of Mandhana Retail Ventures

Image
Mandhana Industries too locked in upper circuit of 20% at Rs 41.55 on the BSE Shares of   Mandhana Industries   rallied as much as 18 per cent to hit an intraday high of Rs 36.30 after its retail arm Mandhana Retail Ventures, which has rights to sell Salman Khan's Being Human Foundation products, got listed on the stock exchanges earlier in the day. Including today's gains Mandhana Industries has surged 42 per cent in last two trading sessions. In August, the company entered into an agreement with actor Salman Khan's Being Human Foundation to sell products under the trademark of 'Being Human' brand. "Shares of The Mandhana Retail Ventures Ltd are listed and admitted to dealings on the exchange in the list of 'T' Group Securities," Bombay Stock Exchange said in a statement. On listing, Mandhana Retail Ventures shares were locked in upper circuit of 5 per cent at Rs 226.80. Shares of Mandhana Industries ended 13 per cent higher at Rs ...

ICICI Prudential Life Insurance lists below issue price

Image
ICICI Prudential Life Insurance lists below issue price ICICI Prudential Life Insurance has listed at Rs 330, 1.2% below its issue price of Rs 334 per share, on the National Stock Exchange (NSE). At 10:01 am, the stock was trading at Rs 331.60, after hitting a high of Rs 333.80 post its listing. ICICI Prudential Life Insurance   has raised Rs 6,057-crore through initial public offer (IPO), become the first insurer to list. The company's public issue was oversubscribed 10.5 times. The quota set aside for qualified institutional buyers was subscribed 11.83 times while for the non-institutional investor category, it was 28.55 times. The retail portion was oversubscribed 1.42 times, the exchange data shows. The insurer is a venture between banking major ICICI Bank and UK's Prudential Corporation Holdings. Singapore's Temasek and PremjiInvest are also the shareholders. At the end of financial year 2016 (FY16), ICICI Prudential was the biggest private sector insur...

L&T Technology Services lists 7% higher at Rs 920

Image
L&T Technology Services lists 7% higher at Rs 920 Benchmark indices continue to trade in a narrow range with negative bias amid weakness among index heavyweight shares. However, the downside is limited due to buying demand among Reliance Industries and HDFC. At 11:00 am, the S&P   BSE   Sensex slipped 29 points at 28,744 and the Nifty50 dipped 7 points to trade at 8,861. Among broader markets, BSE Midcap and Smallcapindices are up 0.4% each. Top losers from the Sensex pack are Axis Bank, Lupin, ICICI Bank, Tata Motors and Infosys, all down between 1%-4.5%. Axis Bank was down over 4% on speculation of SUUTI stake sale in the bank. On the gaining side, TCS, Reliance Inds, Bajaj Auto, Bharti Airtel and HDFC are up almost 1%. Also Read:   IT sector slowdown to hit mid-caps worst L & T Share Price   Technology Services opened at Rs 920 on the National Stock Exchange (NSE) today, against an issue price of Rs 860 per share, at a premium of around...

Tamil Nadu: Blow for Karunanidhi family's business interests?

Image
Tamil Nadu: Blow for Karunanidhi family's business interests? Thursday’s state election results are likely to make the fortunes for some businesses and mar for some others. The biggest and most prominent loser of the day was from the family of DMK chief M Karunanidhi. On the day of the results, the   Sun TV   stock lost Rs 2,229 crore in market value. Its market capitalisation fell from Rs 16,845 crore at its close on Thursday to Rs 14,616 crore at the end of the day. By virtue of his 75 per cent holding, DMK chief M Karunanidhi’s grandnephew Kalanithi Maran   would take three-fourths of that hit. This notional loss could be an indicator of the bad news in store for the family’s business interests that extend beyond media. While Maran was among the first in the family to get into organised business through his venture into broadcast media in the early 1990s, there were others who have followed in his footsteps. After a brief break-up in relations with the Ma...

Markets LIVE: Relief rally continues at D-street

Image
Banking shares mainly public sector undertakings (PSUs) have rallied by up to 13% on the National Stock Exchange (NSE) in early morning trade after the Reserve Bank of India (RBI) has allowed banks to beef up its capital adequacy by including certain items such as property value, foreign exchange for calculation of its Tier-I capital.  CLICK HERE TO READ FULL REPORT. ALSO READ: Markets Live

Firm trades continue at D-Street as Asian peers stabilize

Image
After cracking over 2% in the previous session, marketsmade a comeback today morning with Sensex reclaiming the crucial 25,000 mark in the early trades. However, the Sensex slipped below the key level but continues to remain firm as investors purchase the battered bluechips at attractive valuations. At 11:15 am, S&P BSE Sensex was up 63 points at 24,915 and Nifty50 was up 17 points at 7,585. Read Articles