Stock Market Updates

Tata Power's power distribution companies have invested Rs 4,245 crore in the last 3-4 years in infrastructure expansion and network upgrades in Odisha. Tata Power 's power distribution companies have invested Rs 4,245 crore in the last 3-4 years in infrastructure expansion and network upgrades in Odisha. The company operates four Discoms, TP Central Odisha Distribution (TPCODL), TP Western Odisha Distribution (TPWODL), TP Southern Odisha Distribution (TPSODL), and TP Northern Odisha Distribution Limited (TPNODL), in a joint venture with the Government of Odisha, which collectively Serving a customer base of over 9 million. The total investment, Rs 1,232 crore has been allocated through various government schemes. The company said this includes laying 2,177 circuit kilometers (Ckms) of 33 kilovolt (KV) lines and 19,809 Ckms of 11 KV lines as well as adding 30,230 distribution transformers to improve the reliability of the distribution network in rural and urban areas. 166 new p...

  Did you know that at times a wrong entry on a keyboard by a stressed trader can also bring down shares of any mighty company? It is known as fat finger syndrome. Let us know more about it. It was one such wild swing at the National Stock Exchange -- triggered by a fat finger-- which had catapulted Chitra Ramakrishna to the helm of India's biggest bourse in April, 2013. On October 5, 2012, the so-called “fat finger trade” had triggered a massive flash crash wiping off about Rs 10trillion of investors' wealth at NSE . NSE CEO Ravi Narain had to pay the price and the baton was passed to Ramakrishna, who later got consumed by another bizarre scandal. Moving on, last week the derivative segment on the National Stock Exchange witnessed a freak trade in the weekly Nifty 50 options contract, reportedly resulting in a loss of nearly Rs 200 crore for the trader. This is not just a one-off instance. There have been such freak trades -- caused by human error. Th...

  Cryptocurrencies are subject to patchy regulation across the world, with traders of bitcoin and the panoply of smaller tokens typically unprotected against price slumps Nofe Isah, a 25-year old based in Nigeria, has been investing in crypto since January. Last week, she lost all of her $5,000 in savings as  cryptocurrency  luna went into free fall. Isah, a recently unemployed administrative officer, vowed she would never invest in crypto again. “I can’t believe I fell for crypto,” she told Reuters by phone. “I’m just trying not to get myself depressed. Crypto has taken my money, fine. It shouldn’t take my head.†The crypto market, known for its wild price swings, slumped last week as investors yanked money from riskier assets amid worries over soaring inflation and rising interest rates. Bitcoin, the world’s largest cryptocurrency, fell as low as $25,401 on Thursday, its lowest since Dec. 2020. It hit a record high of $69,000 in November. Small tokens were hit too, wit...

  Retail investor portion subscribed 91%, HNI 20%; institutional investor category received negligible bids Paradeep Phosphates ’ initial public offering (IPO) was subscribed 51 percent on Wednesday, a day before its close. The retail investor portion of the issue was subscribed 91 percent, the high-networth individual (HNI) portion was covered 20 percent and institutional investor category had received negligible bids. Paradeep Phosphates is India’s second-largest private sector manufacturer of phosphatic fertilizers. The company’s IPO comprises Rs 1,004 crore fresh fund raise and an offer for sale of Rs 498 crore. The price band for the issue is Rs 39-42 per share. At the top-end, the company is valued at Rs 3,421 crore. The price-to-earnings (P/E) ratio works out to 7.1 times based on FY22 annualised earning per share of Rs 5.94, nearly half the industry average P/E of 14 times. Ethos IPO subscribed 27% on day 1 Luxury watch retailer Ethos’ initial public offer...

Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17. LIC IPO Listing :  The declining risk appetite of investors amid rising rates and inflation continue to play spoilsport across markets. With persistent bears hammering, the prospects of a decent listing of LIC has diminished, as per trends in the grey market. Shares of LIC were trading at a discount of Rs 15-20 a piece over its issue price of Rs 949 in the grey market ahead of its listing on Tuesday, May 17. In the unofficial market, the grey market premium (GMP) of LIC has shed over 100 percent from its peak level of Rs 85-90 a share quoted on May 1. The LIC GMP wiped off gains and traded flat on May 9, at Rs 5-10 a share, and has remained in the negative territory, i.e. Rs (-) 25-30 a share since May 9. Analysts, too, expect the lackluster listing of the insurance behemoth as markets enter the bearish zone, and as foreign investo...

The Adani Group announced the acquisition of Swiss cement major Holcim's stake in all its Indian operating entities for $10.5 billion (around Rs 81,361 crore), including the open offers. Shares of Ambuja Cement and ACC rallied up to 8 percent on the BSE in Monday’s intra-day trade after the Adani Group announced the acquisition of Swiss cement major Holcim's stake in all its Indian operating entities for $10.5 billion (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, said that it has entered into definitive agreements for the acquisition of Holcim Ltd’s entire stake in two of India’s leading cement companies -- Ambuja Cements and ACC. Holcim, through its subsidiaries, holds 63.19 percent in Ambuja Cements and 54.53 percent in ACC (of which 50.05 percent is held through Ambuja Cements). Ambuja Cements and ACC currently have a combined installed production capacity of ~70 MTPA. Both Ambuja and ACC will benefit fr...