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The Indian stock market’s performance in August showed resilience with NSE Nifty 50 recovering by 16 per cent from the bottom touched on on 17th June. In broader markets, both mid and small cap indices, too, recovered by 22% and 18% for the same period, respectively. Axis Securities in its report noted that the recovery was led by positive FII flows and a robust earning season. The Research and brokerage firm has maintained Nifty’s March Read More

Petrol sales in India rebounded in August but diesel continued to show a decline over the previous month as rains in several parts chipped away demand in some sectors, preliminary industry data showed. Petrol sales, which had dipped 5 per cent in July, increased 5.8 per cent to 2.81 million tonnes in August when compared with 2.66 million tonnes of demand in the previous month. The consumption was almost 16 per cent higher than August Read More

Adani Transmission on Tuesday entered the top 10 list of most valuable companies. Gautam Adani-led power transmission firm became the 8th most valued firm by market capitalisation. Adani Transmission’s market cap stood at Rs 4.4 lakh crore today morning at about 10.30 am, BSE data showed. Adani Transmission m-cap surpassed that of Housing Development Finance Corporation (HDFC) (Rs 4.31 lakh crore), LIC (Life Insurance Corporation of India) (Rs 4.27 lakh crore), Bajaj Finance (Rs 4.33 Read More

Sebi on Monday overhauled the pricing norms for preferential allotment of units by Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs). Under the new framework, the pricing formula for allotment of units under preferential issue would be the Volume-Weighted Average Price (VWAP) of weekly highs and lows for 90 trading days or 10 trading days, whichever is higher. At present, the pricing formula in a preferential allotment is the VWAP of the last Read More

LIC has diluted its stake in Nagpur Power & Industries by over 2 per cent through open market sales, bringing down its stake to 8.33 per cent. The government-owned life insurance behemoth in a regulatory filing on Thursday said its shareholding in Nagpur Power & Industries has diluted from 10.56 per cent (13,82,743 shares) to 8.33 per cent (10,90,747 shares) of the paid-up capital of the company. There is a decrease of 2 per cent Read More