Accenture shares tank 11% despite beating Q3 revenue estimates. Infosys ADRs fall 3%
Accenture’s shares plummeted despite exceeding third-quarter revenue expectations, driven by AI-related service demand. The company faces challenges from reduced U.S. federal contracts. Consequently, Indian IT ADRs like Infosys also declined, while domestic IT stocks showed mixed performance, with gains in tier-2 companies and HCL Technologies, contrasting with losses in Infosys and LTIMindtree.
No obstacle will remain in NSE IPO: Sebi Chairman Tuhin Kanta Pandey
Sebi Chairman Tuhin Kanta Pandey announced that the NSE IPO faces no remaining obstacles, though he refrained from providing a specific timeline. He clarified that the ownership structure of clearing corporations is not hindering the IPO. Pandey also mentioned NSE is resolving legal matters, involving payments and case withdrawals, while Sebi is proceeding cautiously with […]
Vishal Mega Mart block deal: US asset manager Vanguard buys stake worth Rs 655 crore
Vanguard, a major asset manager, invested in Vishal Mega Mart by purchasing over 5 crore shares. The deals, executed through two funds, totaled Rs 655 crore. This followed a sale of equity shares by Vishal Mega Mart promoter Samayat Services. Other buyers included SBI Mutual Fund, HDFC MF, and Kotak Mahindra MF.
TPG offloads Rs 1,505 cr stake in Sai Life via block deals; Norges Bank, MFs step in
Global investor TPG sold its ₹1,505 crore stake in Sai Life Sciences via block deals at ₹722 per share. Key buyers included Norges Bank and top Indian mutual funds. The stock rallied 5% post-deal, reflecting robust investor appetite.
Sebi proposes 5-point AI rulebook for securities market. Check details
Sebi has released a consultation paper proposing a 5-point regulatory framework for the responsible use of AI and ML in India’s securities markets. The guidelines focus on governance, transparency, fairness, data security, and risk controls, aiming to balance innovation with investor protection.
HDB Financial IPO shocker: Price band 42% below unlisted market value
HDB Financial set its IPO price band at ₹700–740, a sharp 42% discount to its grey market valuation. This reflects a broader trend of conservative IPO pricing despite soaring unlisted market interest in firms like NSE and Tata Capital.
BSE introduces AI tool to speed up SME IPO document checks
To enhance the SME listing process, BSE has rolled out an AI-powered tool that pre-screens draft IPO documents. The system helps merchant bankers identify compliance gaps early, significantly reducing review time. While not a replacement for BSE’s final check, it improves efficiency and accuracy in the IPO filing workflow.
Nithin Kamath: Why the broking business isn’t as glamorous as it seems
Zerodha co-founder Nithin Kamath highlighted major risks in India’s broking business, including heavy revenue reliance on Nifty and Sensex F&O contracts, limited diversification, and mounting regulatory pressure, questioning the industry’s perceived glamour.
Accenture beats third-quarter revenue estimates
Accenture beat Wall Street estimates for third-quarter revenue on Friday, driven by growing demand for the consulting giant’s AI-driven services from enterprise customers.
Macro indicators, retail participation aligning for a multi-decade bull run: Madhu Kela
Market veteran Madhu Kela advises investors to focus on bottom-up ideas and segregate research from execution. He is bullish on India’s long-term prospects, citing favorable macro parameters. Kela highlights opportunities in select sectors and stocks, particularly NBFCs, due to improved regulations and liquidity. He suggests that range-bound markets are ideal for stock picking, identifying potential […]