Tag: National Stock Exchange

NSE suspends trading in stock of Brightcom Group from June 14 onwards

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

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National Stock Exchange in a circular on Tuesday, May 14, announced that trading in securities of Brightcom Group Ltd shall be suspended with effect from June 14  until the company complies with Master Circular. This will impact nearly 6 lakh retail investors.

“Trading in securities of the above-mentioned Company would be suspended w.e.f. June 14, 2024, and the suspension will continue till such time Company complies with Master Circular,” NSE said.

After 15 days of suspension, trading in the securities would be allowed on trade for trade basis in (Z category) on the first trading day of every week for six months, NSE added.

“It is hereby informed that Brightcom Group Limited has not complied with requirement of Regulation 33 (i.e. Submission of Financial Results) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”) for two consecutive quarters’ i.e. September 30, 2023 and December 31, 2023. Hence, the trading in securities of Brightcom Group Limited shall be suspended w.e.f. June 14, 2024,” the stock exchange added.

The Hyderabad-headquartered company has been under SEBI’s radar for the past two years. The company is being monitored by SEBI for violations of listing regulations, hiding information, and several other regulations.

SEBI stated that from 2014-15 to the next 5 years, the company has shown reduced expenses and increased profits. During this period, the company attempted to conceal accounting entries equivalent to ₹1,280 crore.

Currently, promoters hold an 18.38% stake in the company, while public shareholding stands at 81.62%. Among the public shareholders, retail investors hold a 37.89% stake, with 5.7 lakh individuals.

Renowned investor Shankar Sharma held nearly 2.3 crore shares, or 1.14% stake of Brightcom Group at the end of the December 2023 quarter.

Vanguard Total International Stock Index Fund holds a 1.1% stake in the company, while Vanguard Emerging Markets Stock Index Fund holds a 1.09% stake. The LGOF Global Opportunities Fund, included in the FPI, has a 2.48% stake in the company.

The stock of the company fell to its lowest at ₹12.19 earlier this week.

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

NSE, BSE to remain closed on these days in May; mark your calendar

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

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The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) will remain closed for two days in the month of May. The NSE and BSE will remain closed on May 1 on the occasion of Maharashtra Day.

Also known as the Maharashtra Din, the day commemorates the formation of the state of Maharashtra on May 1, 1960. Maharashtra was formed after the linguistic reorganisation of Indian states.

Apart from May 1, the NSE and BSE will also remain closed on May 20 when all six Lok Sabha seats in Mumbai go to polls in the fifth of the seven-phase general elections.

Here’s a list of stock market holidays in 2024:

Meanwhile, Lok Sabha elections in the state of Maharashtra will be held in five phases. While voting on April 19 and April 26 concluded, the remaining seats in the state will poll on May 7, May 13 and May 20. The counting of votes is scheduled for June 4.

The Lok Sabha elections 2024 began in India with voting in 102 seats in the first phase on April 19. The polls saw a voter turnout of around 65.5%. In the second phase, another 88 seats were polled and the voter turnout was 63%.

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

BSE warns against fake videos of its CEO & MD Ramamurthy recommending stocks

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

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The Bombay Stock Exchange (BSE) on Thursday, April 18, warned investors about fake videos and audios of fraudsters impersonating BSE MD and CEO Sundararaman Ramamurthy and recommending certain stocks, that are in circulation in social media.

The announcement comes a week after the National Stock Exchange (NSE) issued a similar circular, about videos impersonating its chief.

The circular issued by the stock exchange stated, “It has come to our notice that some fake, unauthorized and fraudulent videos and audios created through innovative and ingenious technology impersonating BSE’s Managing Director and Chief Executive Officer, Mr. Sundararaman Ramamurthy (BSE MD & CEO) are being circulated on social media recommending certain investments and advisory in stocks/shares.”

“BSE also advises investors/public not to trust such videos and audios and not to follow fake recommendation/unsolicited communication circulated through deceptive means impersonating BSE MD & CEO,’ the circular added.

The stock exchange has said that it will initiate all possible steps to prevent misrepresentation by the fraudsters.

Further, the BSE has asked investors/public not to join any group on social media platforms where individuals impersonate BSE or its officials.

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The exchange advised people to be cautious and not to engage or re-circulate such fraudulent messages and not to share any personal and/or confidential information, financial or otherwise. Verify the source of communication before making your decisions, the BSE said.

BSE employees are not permitted to recommend dealing in/or promote any transactions in stocks/shares.

The stock exchange added that any official communication from BSE is made only through www.bseindia.com and  BSE’s social media handles @bseIndia – Instagram, @bseIndia – Facebook, @BSEIndia – LinkedIn, @BSEIndia – X (Twitter), @BSEworldBSEIndia – YouTube.

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

Aditya Birla Fashion & Retail gets go-ahead from BSE, NSE on merger with TCNS Clothing

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

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Aditya Birla Fashion and Retail Ltd (ABFRL) on Friday (March 15) said it has received a no objection letter from BSE Ltd and National Stock Exchange of India Ltd on the scheme of merger of the company and TCNS Clothing Co.

“…we inform that company has received observation letters from BSE Limited and National Stock Exchange of India Limited dated March 14, 2024, and March 15, 2024, respectively in regards to the Scheme of Amalgamation between Aditya Birla Fashion and Retail Limited (‘Transferee Company’) and TCNS Clothing Co Ltd (‘Transferor Company’) and their Shareholders and Creditors (‘Scheme’), wherein Stock Exchanges have issued ‘No adverse Objection’ and ‘No Objection’ on the Scheme,” ABFRL said in a regulatory filing.

The effectiveness of the scheme will be subject to the approval of the National Company Law Tribunal and other necessary approvals, as may be required, the company said.

Aditya Birla Fashion and Retail Ltd is engaged in the retailing of branded products, including apparel, footwear and accessories segment. The entity is a listed company and a part of the diversified conglomerate Aditya Birla Group. TCNS Clothing Co Ltd is a listed entity, engaged in the business of manufacturing, distribution, wholesale cash and carry trading and sale of women’s apparel.

On May 5, the Aditya Birla Group firm had announced that it would acquire a majority stake in TCNS Clothing in a deal worth ₹1,650 crore. As per the deal, it acquired TCNS Clothing’s founding promoter’s stake through a SPA (share purchase agreement), followed by an open offer. As per the SPA, ABFRL acquired a total of 1.41 crore equity shares constituting 22% of the expanded share capital of the company.

ABFRL registered a revenue of ₹12,418 crore in the financial year 2022-23. It is India’s first billion-dollar pure-play fashion powerhouse, the company said. The company has a network of 4,008 stores across 33,874 multi-brand outlets, with 6,837 points of sales in department stores across India as of June 30, 2023. It has a repertoire of India’s largest brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England. It also owns the leading fashion retail chain Pantaloons.

Shares of Aditya Birla Fashion and Retail Ltd ended at ₹207.35, up by ₹6.15, or 3.06%, on the BSE.

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

NSE, BSE to conduct special trading session on March 2

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

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Bombay Stock Exchange and the National Stock Exchange, will be conducting a special live trading session on Saturday, March 2, to check the resilience of their disaster recovery systems.

According to an NSE circular, the special trading session will comprise two phases. In the first phase, a session of 45 minutes will be from 9.15 am to 10.00 am. Another live trading session will be conducted from 11.30 am to 12.30 pm.

The stock exchanges will conduct the special session from both primary and disaster recovery sites. The session is being conducted to check the preparedness of stock markets to operate in case of unforeseen situations or emergencies.

Market infrastructure intermediaries have been mandated by capital markets regulator SEBI to conduct a switchover to the disaster recovery sites as part of a business continuity plan.

The stock exchanges have notified members that the live trading session on March 2 will be conducted by switching from primary location to disaster recovery location intra-day in both equity and equity derivatives segments.

The first phase will be conducted from the primary location or main websites of NSE and BSE while the second phase will be conducted from the disaster recovery site.

The stock exchanges have also notified that to check market volatility during the special trading futures contracts will be allowed to fluctuate within a 5% operating range. In the Futures and Options segment, securities will have a 5% limit for both upper circuit and lower circuit.

Securities with a 2% limit will keep the existing limit to prevent extreme volatility during the session.

Usually, stock markets remain closed on Saturdays.

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

NSE, BSE declare holiday on Monday, January 22 for equity and derivatives markets

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

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The equity and equity derivatives markets will remain closed on Monday, January 22 on the occasion of Ram Temple consecration ceremony in Ayodhya. 

The NSE revealed the commodities will be traded from Monday from 5 pm onwards.

The trading holiday has been declared on Monday, January 22 on account of public holiday declared under Section 25 of the Negotiable Instruments Act, 1881, told NSE in its release.

This comes in the backdrop of the consecration ceremony of the newly-constructed Ram Temple in Ayodhya, prompting many states across the country to declare a half day or public holiday.

On another note, equity and derivates were traded on Saturday, January 20 from 9 am pre-open, 9.15pm to 3.30pm, on the stock exchanges without Disaster Recovery movement,

Track the latest news, pictures, videos, interesting facts and the guestlist on CNBC-TV18 live-blog on the inauguration of the Ram Temple in Ayodhya. 

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

National Stock Exchange introduces 13 new commodity derivatives contracts

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

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The National Stock Exchange (NSE) on Monday, October 16, announced the launch of 13 new commodity derivatives contracts. The exchange said that the move will help investors efficiently manage their risk.

With this new addition, NSE now offers 28 products in the commodity derivatives segment.

The 13 new derivatives contracts are ‘option on futures’ on gold 1kg futures, gold mini futures, silver mini futures, copper futures, zinc futures, gold guinea (8 grams) futures, aluminium futures, aluminium mini futures, lead futures, lead mini futures, nickel futures, zinc futures and zinc mini futures.

Over the last few days, NSE has also launched six other derivatives contracts — WTI crude oil, natural gas, and silver.

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NSE already had commodity contracts on gold 1kg futures, gold mini futures, gold petal futures (1 gram), silver 30 kg futures, silver 30 kg option on goods, WTI crude oil futures, natural gas futures, brent crude oil futures and copper futures.

The exchange said in its statement that it has observed an increase in participants interest in the commodity derivatives segment with the launch of new products, particularly the derivatives on WTI crude oil and natural gas.

This involves diverse categories of participants including Foreign Portfolio Investors (FPIs) and domestic mutual funds.

The national exchange has also set up a dedicated teams to provide ease of onboarding for new trading members, segmental enablement for existing trading members, and another operational process such as algorithmic trading approvals to provide ease and seamless experience.

Catch the latest market updates with CNBC-TV18.com’s blog 

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

Jio Financial Services to be included in NSE indices effective July 20

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

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The National Stock Exchange (NSE) on Monday, July 17, said Reliance Industries Ltd’s (RIL) demerged entity Jio Financial Services Ltd (JFSL) will be included in NSE indices effective from July 20, 2023.

“NSE has announced special pre-open session to be conducted for Reliance Industries Limited (RELIANCE) in the capital market segment on July 20, 2023, on account of demerger of its financial services business into Reliance Strategic Investments Ltd (‘spun-off entity’ to be renamed as Jio Financial Services Ltd),” the stock exchange said in a circular.

The NSE will include Jio Financial Services in 19 indices, including Nifty50, Nifty100, Nifty200, Nifty500, Nifty50 Equal Weight, Nifty100 Equal Weight, Nifty500 Multicap 50:25:25, Nifty Commodities, Nifty Energy, Nifty Energy, Nifty India Manufacturing, Nifty Infrastructure, Nifty LargeMidcap 250, Nifty Low Volatility 50, Nifty Mobility, Nifty Oil & Gas, Nifty Total Market, Nifty100 ESG, Nifty100 Liquid 15 and Nifty100 Low Volatility 30.

For at least three days from July 20 onwards, there will be 51 stocks available for trading on the Nifty 50 as the demerged entity will be part of the index.

“In accordance with the index methodology, spun off entity (Jio Financial Services) shall be included in 19 indices effective from July 20, 2023,” NSE Indices said.

Further, Jio Financial Services will be removed from these indices on the end of T+3 days whereas T is the day on which Jio Financial will get listed.  This is in accordance with the new methodology of Nifty indices.

In April, NSE Indices Ltd revised the methodology of Nifty equity indices for handling corporate actions involving demergers. The move was expected to help in reducing churn in index constituents resulting from corporate action involving demergers.

Under the new methodology, the demerged company will be retained in the Nifty index if Special Pre Open Session (SPOS) is conducted by the exchange.

Additionally, the spun-off business would be included in the index at a constant price — which is the difference between the demerged company’s closing price on T-1 day and the price derived during SPOS on the ex-demerger date.

The spun-off business, which is the newly listed entity, would be removed from the index after the end of the day on the third day of its listing.

If in the first two days, the spun-off business hits the price band each day, then the exclusion date would be deferred by another three days. For two consecutive days, if the spun-off business does not hit the price band then it would be removed after the third trading day of such observation.

In case on the third day, the spun-off entity hits the price band, the exclusion of such stock would not be deferred. If SPOS is not conducted by the exchange, the demerged company would be removed from the index at the beginning of T-1 day by making a suitable replacement in case of indices with a fixed number of companies.

Before this methodology, the demerged company was excluded from the index, and the same was replaced with another eligible stock, soon after the equity shareholders approve of a scheme of arrangement for the demerger of a company.

In the first week of July, Reliance Industries said the National Company Law Tribunal has given its nod to the demerger of the company’s financial services undertaking and its listing.

Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Ltd (RSIL) and rename and list it as Jio Financial Services Ltd.

Shares of Reliance Industries Ltd ended at Rs 2,796.40, up by Rs 57.50, or 2.10 percent on the BSE.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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

Wipro buyback sees 77.40% retail acceptance, fetches double-digit returns in 18 days

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

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In the just-concluded Rs 12,000-crore share buyback programme, Wipro has recorded an acceptance ratio of 77.40 percent among retail participants. This means that for every 500 stocks surrendered by a retail investor, 387 were accepted for a buyback.

The acceptance ratio was in line with the trend seen in the company’s past four repurchase offers in which it stayed within a range of 50-100 percent.

For the latest buyback, a retail or small shareholder was categorised as someone who held Wipro shares worth less than Rs two lakh in terms of market value as of the record date.

The investors will receive a payout for the buyback on July 5 along with the shares that were not accepted.

The record date for the buyback was on June 16 and the programme concluded on June 30. Wipro’s plans to initiate a buyback of approximately 26.97 crore shares at a price of Rs 445 per unit, gave investors a chance to seize double-digit returns of 16.7 percent from the closing price of Rs 381.30 on the record date.

The returns that investors managed to earn from the buyback were much more than what they made within the past year. For context, the stock has given negative returns of over 7 percent in the past year, while the buyback gave investors double-digit returns within just 18 days.

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This buyback programme also resulted in the elimination of 4.91 percent of the company’s shares.

Shares of Wipro have been a major laggard within the entire information technology pack and its subdued quarterly performance along with a disappointing growth guidance worsened the situation.

Brokerage firm Motilal Oswal Financial Services remains neutral on Wipro, assigning a price target of Rs 360 for the stock, which represents an over 9 percent downside potential from Monday’s closing price. The firm awaits further evidence of Wipro’s refreshed strategy execution and a successful turnaround from its growth struggles over the last decade before turning more constructive on the stock.

At 9.42 am, shares of Wipro were trading at Rs 396.15 on the National Stock Exchange, up 1.2 percent from the previous close.

Also Read:Wipro extends closing date for Rs 12,000 crore-share buyback to June 30 — here’s why

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

NSE cautions investors against dabba trading; cancels registration of two people in the matter

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

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The National Stock Exchange (NSE) on Tuesday issued another notice of caution for investors to stay away from dabba/ illegal trading on the exchanges. It advised investors not to subscribe to any such scheme/product offered by any person/entity offering indicative/assured/guaranteed returns in the stock market, adding that the same is prohibited by law.

In the notice, the stock exchange said, “A person named “Jensmon V George” operating through mobile number “9995103502” is providing dabba/illegal trading platform with assured profit. He is also offering to handle trading account of investor by asking investors to share their user ID and password.”

In a similar notice, on Monday, NSE said that a person named Narendra V Sumaria is offering dabba trading. The exchange said that investors are cautioned and advised not to subscribe to any such scheme/product offered by any person providing illegal Dabba trading activity in the stock market as the same is prohibited by law.

Another person named “Mr. Nitin Shantilal Nagda” has also been named in NSE’s communication. Nagda is also said to be offering dabba trading. NSE said that the association/registration as an AP of the named person was subsequently cancelled.

“It may also be noted that the above-mentioned person was associated/registered with a Trading Member (TM) as an Authorised Person (AP) and the said association/registration as an AP was subsequently cancelled by the TM,” NSE said in its communication.

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Dabba trading is a form of informal trading that takes place outside the purview of the stock exchanges like BSE and NSE. The practice is illegal in India. In dabba trading, traders bet on stock price movements without a real transaction and hence there is no physical ownership of a particular stock unlike when it is done on an exchange.

In addition to being violative of the securities laws, dabba trading also falls within the purview of Section 406, 420 and Section 120-B of Indian Penal Code, 1870.

NSE has cautioned investors and advised them not to trade on such illegal trading platforms. Participation in such illegal platforms is at the investor’s own risk, cost and consequences as such illegal trading platforms are neither approved nor endorsed by the Exchange.

“The investors may note that for any kind of disputes relating to such prohibited schemes none of the following recourses will be available to investors:

1. Benefits of investor protection under Exchange’s Jurisdiction
2. Exchange dispute resolution mechanism
3. Investor grievance redressal mechanism administered by Exchange,” NSE said.

Also Read: NSE to introduce WTI crude oil, natural gas futures contracts from May 15

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