Security Financial News

Torrent Power, one of the largest companies in the country’s power sector.In the last four sessions, Torrent Power shares gained nearly 10% after the BJP came to power for the third consecutive time, albeit this time as a coalition government for the first time in ten years. Analysts anticipate policy continuity and ongoing infrastructure investments under the potential third term of Prime Minister Narendra Modi.Also Read: BSE Power records 107% surge in a year, 9 stocks including NTPC, Tata Power jump between 100% and 400% – here's why Investors remain optimistic about the government's focus on enhancing the power sector, a cornerstone of its development agenda.

Healthy Life Agritec has demonstrated remarkable value for its shareholders. The stock has given multifold returns to its investors, skyrocketing 470 percent in a little over 2 months, since April 2024, from ₹3.80 in March 2024 end.Overall, in 2024 YTD, the stock has rallied 309 percent, while, in the last 1 year, it has soared 190 percent.It has advanced 19.5 percent in June so far after a 159.5 percent surge in May and an 84 percent jump in April.

—Name withheld on request.I assume that you are a non-resident as per Indian tax law. Liquid funds typically invest in a portfolio of money market and short-term debt securities, and since investment in equity shares of domestic listed companies is less than 35% of its total portfolio, they do not meet the criteria of being an equity-oriented fund.

Motilal Oswal Financial Services (MOFSL) soared 18.7 per cent on Monday on the BSE, hitting a new all-time high of ₹719.95 as the stock began trading ex-bonus from Monday’s session.In May, the financial services company announced a bonus share issue for its shareholders who are eligible in a 1:3 ratio. This means that the shareholders are entitled to receive three bonus or free shares for every share.With Monday's surge, the stock is now up 113 per cent for 2024, marking its best calendar year performance since 2017, when it nearly tripled with gains of 186 per cent.

Groundbreaking announcements on Generative Artificial Intelligence (GenAI) have been making news. For instance, Google and OpenAI introduced new GenAI-powered assistants that can engage in real-time conversations, even adapting when interrupted, mirroring human interaction. These assistants don’t just converse; they can also analyse your surroundings through a live video feed and translate conversations on the spot.

Tata Steel as its 'top pick of the week'. This is due to reduced costs in Europe, increased capacity in India, lower coking coal prices, and strong operations in India.The brokerage has a ‘buy’ call on the stock with a target price of ₹179, implying a potential upside of 10 percent.Tata Steel Group is one of the world’s largest steel companies with a steel production capacity of 35 mtpa.

Stock market today: Integra Essentia shares are one of the penny stocks listed on Dalal Street. This penny stock is invested in by the Indian insurance behemoth Life Insurance Corporation (LIC) of India.

ARCs) in India are projected to see an increase in recovery rates for stressed residential realty projects, rising to 16-18% by March 2025 from 11% in March 2024, owing to healthier demand, price appreciation in the housing property market and greater interest from investors and promoters, said CRISIL Ratings.

Post-harvest logistics company, Sohan Lal Commodity Management (SLCM), has acquired its second Agri Reach application patent from Intellectual Property India. The latest patent deals with “Method for Real-time Monitoring of Quality Control Data in a Warehouse Management System”.

Magenta Lifecare IPO Allotment Update: After receiving a robust response from investors during the bidding period from June 5 to June 7, attention now turns to the allotment procedure for Magenta Lifecare.The allotment for the Magenta Lifecare IPO is expected to be finalised today. Investors can monitor their allotment status through the registrar, Cameo Corporate Services, or the BSE website.With oversubscription in the retail category, shares will be allocated to retail individual investors (RIIs) on a proportional basis.

Multibagger stock: The market performance of Heritage Foods shares, a family-run business led by TDP leader Nara Chandrababu Naidu's family, has been nothing short of extraordinary. In the past six sessions alone, Heritage Foods share price has consistently hit the 10 percent upper circuit, propelling the FMCG stock to new heights.

Also Read: IPO listing: Kronox Lab Sciences share price debuts at ₹165, a 21% premium to issue priceThe company will credit the shares in the demat accounts of investors who received the allotment and initiate refunds to unsuccessful bidders on June 11.Sattrix IPO allotment status check online can be done with simple steps mentioned below. Step 1] Visit IPO registrar website on this link - https://ipo.bigshareonline.com/ipo_status.htmlStep 2] Select ‘Sattrix Information Security Limited’ from the Select Company dropdown menuStep 3] Choose among Application No, Beneficiary Id and PAN from the Selection TypeStep 4] Enter the details as per the option selectedStep 5] Enter the Captcha and click on ‘Search’Your Sattrix IPO allotment status will be displayed on the screen.Also Read: Ixigo IPO opens: Check GMP, key dates of Le Travenues Technology IPO. Should you subscribe or not?Sattrix IPO GMP today, or grey market premium today, is ₹14 per share, as per stock market observers.

Shares of Mahanagr Gas (MGL) rose 6.5% to an intraday high after the company’s management stood confident on its FY25 guidance of 6-7% year-on-year growth. 

The Securities Exchange Board of India (SEBI) has been long considering enhancing investments by Foreign Portfolio Investors (FPIs) in India by facilitating increased participation from non-resident Indians (NRIs), Overseas Citizens of India (OCIs), Resident Indians (RIs) as constituents of FPIs that are based out of International Financial Services Centre (IFSC) in Gandhinagar, Gujarat, India. IFSC is regulated by the Internal Financial Services Centre Authority (IFSCA). Also Read: Why did FPIs dump ₹25,586 crore worth of Indian shares in May—Explained with 4 key reasons

Also Read: AU Small Finance Bank revises interest rates on fixed deposits, savings accountsA savings account is a critical component of effective financial management. To begin, there are numerous sorts of savings accounts, each with unique features.

Indian Army launched a search operation in Jammu and Kashmir's Reasi on Monday morning following the attack on a bus coming from Shiv Khori, in which ten pilgrims were killed on Sunday evening.

Dr Reddy’s Laboratories: The pharmaceutical company has reported that the US FDA issued a Form 483 with four observations at its API manufacturing facility (CTO-6) in Srikakulam, Andhra Pradesh on June 7. The company has stated that it will address these issues within the stipulated timeline.Mphasis: BCP Topco IX Pte, a Singapore-based private limited company linked to Blackstone, is set to sell a 10.6% stake in Mphasis at a base price of ₹2,350 per share.

F&O ban list: The National Stock Exchange (NSE) has banned trading in three stocks on Monday, June 10, 2024, in the futures and options (F&O) segment due to their exceeding 95% of the market-wide position limit (MWPL).However, these stocks will be available for trading in the cash market.The NSE updates the list of securities in the F&O ban for trade every day.ALSO READ: Stocks to buy: Granules and Tata Motors looking attractive, here's whyBalrampur Chini Mills, SAIL, and ZEEL are the three stocks on the NSE's F&O ban list for June 10.The National Stock Exchange (NSE) said the derivative contracts in the mentioned securities have crossed 95% of the market-wide position limit and have been currently placed in the ban period by the stock exchange.“It is hereby informed that all clients/members shall trade in the derivative contracts of said security only to decrease their positions through offsetting positions. Any increase in open positions shall attract appropriate penal and disciplinary action," the NSE statement said.No new positions are allowed when the stock exchanges place F&O contracts in a particular stock during the F&O ban period.

Kronox Lab Sciences IPO: The initial public offering (IPO) listing date for Kronox Lab Sciences Limited has been fixed on June 10 2024, i.e. today.

MUMBAI:Small-cap stocks had a spectacular rally the previous fiscal year, much of it driven by foreign portfolio investors (FPIs) betting on smaller Indian companies even as the surge sparked fears of a bubble caused in part by some murky transactions.In the financial year 2023-24 (FY24), about 35% of the total ₹2.08 trillion of FPI equity investments in India were channeled into the top 100 companies of the BSE Smallcap index, totalling ₹71,631 crore and making up 70% of the overall investment into smallcaps, according to BSE shareholding data analysed by Mint.This influx of investments contributed to both the Nifty Smallcap 250 and the BSE SmallCap index, which comprises 946 companies, outpacing returns from the benchmark Nifty and Sensex indices last year.And while the shareholding data for the first quarter of the current fiscal won't be available before 30 June, the BSE SmallCap has already outperformed the Sensex by over 6% since 1 April 2024, with a return of 9.6%, compared to Sensex returns of 3.6%.However, the rapid rise has not gone unnoticed by regulators. In March, Madhabi Puri Buch, chair of the Securities and Exchange Board of India, warned of “pockets of froth" in the overheated small-cap and mid-cap markets.Mint previously reported (here, here, and here) about the potential involvement of Dubai-based hawala operator Hari Shankar Tibrewala in funnelling illegal proceeds from the Mahadev online betting scandal into Indian small-cap stocks.Nevertheless, the surge of foreign investors into India’s small-cap market has provided a semblance of stability.“FPIs could continue to invest in fundamentally sound small caps which are reasonably valued," said SK Joshi, executive director at Khambatta Securities.

FPI inflows of ₹6,617.32 crore and mutual fund purchases of ₹3,072.85 crore, NSE data reveals. However, retail investors net sold shares worth ₹8,587.5 crore on 3 June instead of their usual practice of buying on the rise. The next day, when the actual counting showed the BJP unable to secure a simple majority, the market tanked almost 6% to 21,884.50, and FPIs and MFs net sold shares worth a combined ₹18,760 crore.