Tag: Market news

Stocks to watch on July 10: TCS, Dish TV, Godrej, Lupin

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Indian shares are likely to extend Monday’s rally amid positive global cues and ahead of Tata Consultancy Services’ (TCS) June earnings later in the day.

The Sensex surged 277 points to close at a five-month high of 35,934.72 in the previous session while the NSE Nifty 50 index ended above the 10,850 mark, its highest closing since June 13.

Here are the top stocks to watch out for on Tuesday:

TCS: The software maker’s stock slipped 1.57 percent on Monday, a day ahead of its June Q1 earnings announcement. TCS shares ended at Rs 1887.65, down 1.34 percent.

HCL Tech: The IT company will consider a proposal to buyback equity shares of the company on July 12, CNBCTV 18 reported.

Godrej: The group has has moved to the Bombay High Court against the acquisition of its prime property worth $5 billion in the Vikhroli area of Mumbai for the government’s ambitious bullet train project connecting Mumbai and Ahmedabad, according to a Business Standard report.

Lupin: The pharma company receoived US FDA nod for Hydroxychloroquine Sulphate tablets (200 mg). Lupin stock ended 0.42 percent lower at Rs 911.95 on the BSE.

Tata Group shares: Barring Tata Consultancy Services, all Tata group shares rose on Monday after the NCLT dismissed Cyrus Mistry’s plea challenging his removal as chairman of Tata Sons. Mistry was ousted as Tata Sons Chairman in October 2016.

Coal India: The state-owned behemoth is in the news after Coal Minister Piyush Goyal asked the company to ensure supply for power sector in a review meeting in Kolkata on Monday.

Dish TV: DTH service provider Dish TV reported an 8.1 percent jump in subscription revenue in the quarter ended June 30 at Rs 14.89 billion sequentially. Operating revenue was up 8 percent over the preceding quarter at Rs 16.56 billion.

L&T Infotech: The firm has approved allotment of 3.52 lakh shares under ESOP scheme, according to a Moneycontrol report.

HDFC Bank: The company’s first-quarter loan book grew 22 percent to Rs 7.08 lakh crore, deposits growth at 20 percent, according to a Moneycontrol report.

Idea Cellular: PTI reported that the telecom ministry (DoT) on Monday granted conditional approval to the long-pending merger of Vodafone India and Idea Cellular that will create the country’s largest mobile services operator.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Triskaidekaphobia and Paraskevidekatriaphobia: What Friday the 13th holds for the Nifty

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

You read that right. I know you’re squinting at the multi-syllabic Greek words and wondering what they mean. Triskaidekaphobia means Fear of the number 13, while Paraskevidekatriaphobia takes it a step further and suggests fear of Friday the 13^th  

We have a great set up for trade today, six days of gains, FIIs buying in Index Futures and World Markets looking good, thanks to Donald Trump’s tweets.

The superstitious argue it’s Friday, the Thirteenth. So let’s turn the calendar and see what previous 13 “Friday the Thirteenths” have meant for our market.

In the last 13 Such Fridays, the Nifty has ended lower on 8 occasions, higher on 4 occasions and unchanged on one. The Average Move over last 13 sessions has been -0.3% and -0.94% has been the average loss on a down day, while a good day added 0.9%.

The last time 13^th April fell on a Friday was way back in 2012, that day the Nifty ended lower by 1.5%

Again, this data ain’t to suggest what may happen today, but it’s perfect fodder for geeks. Just like the words Triskaidekaphobia & Paraskevidekatriaphobia!

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Sebi amends norms for real estate, infrastructure investment trusts

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

In order to make REITs and InvITs more attractive, markets regulator Securities and Exchange Board of India (SEBI) said on Wednesday that they will have to provide a mechanism for resolution of disputes with their shareholders and partners in the holding company.

SEBI has also amended REITs (Real Estate Investment Trusts) and InvITs (Infrastructure Investment Trusts) regulations in order to facilitate the growth of such trusts.

In separate notifications posted on its website, Sebi said: “Shareholders’ agreement or partnership agreement shall provide for an appropriate mechanism for resolution of disputes between the InvIT and the other shareholders or partners in the holdco and/or the SPV (special purpose vehicle).”

It said the provisions of these regulations will prevail in case of inconsistencies between such agreement and the obligations cast upon an InvIT and REIT.
With regard to InvIT, the regulator said the trust will have to file the final placement memorandum with Sebi within 10 working days from the date of listing of the units issued therein.

“The manager, in consultation with the trustee, will appoint at least such number of nominees on the board of directors or the governing board of such SPVs, as applicable, which are in proportion to the shareholding or holding interest of the REIT in the SPV,” Sebi said in the case of REIT.

The regulator had notified REITs and InvITs Regulations in 2014, allowing setting up and listing of such trusts which are very popular in some advanced markets.

However, only two InvITs – IRB InvIT Fund and Indiagrid Trust – have got listed on stock exchanges so far and not a single REIT has been listed in the country.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow