Sebi says investigation into Jane Street could be wider
Securities and Exchange Board of India stated that the investigation and final order on Jane Street could be much wider. SEBI will not release documents not relied upon for the order. Jane Street appealed against SEBI, seeking document release to rebut market manipulation allegations. The hearing started on Tuesday.
Adani Power shares rally 8% in 2 days. Here’s what’s driving the rally
Adani Power’s stock value increased following a deal with Bhutan’s Druk Green Power Corp for a hydroelectric project. The companies will jointly establish a public company in Bhutan. Adani Power shareholders approved a stock split. Each share of Rs 10 will be subdivided into five shares of Rs 2 each.
Bitcoin at $112k, Ethereum trades at $4,313. Experts cite hopes of US rate cuts and fresh liquidity
Bitcoin is trading steadily near $112K, while Ethereum hovers around $4.3K, buoyed by hopes of U.S. rate cuts and institutional buying. Analysts suggest September is a crucial month for crypto, with the SEC easing compliance and Nasdaq exploring tokenized securities. Market sentiment balances optimism with caution amid tightening regulations and ongoing innovation.
MosChip Technologies shares slide 10% after rallying 59% in 7 days. Should you buy the dip?
MosChip Technologies shares tumbled 10% on Tuesday following a 59% rally in seven sessions, driven by India’s semiconductor push and strong volumes. While technical indicators suggest overbought conditions, analysts say long-term investors can consider using short-term dips to build positions in the high-growth stock.
Bollywood-linked smallcap zooms 33% in 3 days as Ramesh Damani, Madhu Kela pick up stakes
Prime Focus shares have surged, hitting their upper circuit for the third consecutive session, fueled by investments from marquee investors like Ramesh Damani and Singularity AMC. The media company, known for its VFX work on the upcoming film Ramayana, has seen a 33% increase in stock value in the last three trading sessions.
Morgan Stanley initiates coverage on newly-listed Birla stock, upgrades another
Morgan Stanley is optimistic about Aditya Birla Group’s retail ventures, initiating coverage on Aditya Birla Lifestyle Brands Ltd (ABLBL) with an “Overweight” rating, projecting a 23% upside. Simultaneously, Aditya Birla Fashion and Retail Ltd (ABFRL) was upgraded to “Overweight,” anticipating a 53% potential increase. This upgrade is due to improved profitability.
Festive season, GST rate cuts set stage for housing demand revival: Mohit Goel of Omaxe
GST rate cuts on cement and construction materials are expected to lower developers’ input costs by 2-4%, potentially boosting housing demand, especially in the affordable and mid-market segments. This, coupled with the festive season’s increased inquiries and stable interest rates, creates favorable conditions for new project launches and improved affordability. Developers aim to pass on […]
Taurian MPS IPO opens for subscription. Check GMP, price band and other details
Taurian MPS, a crushing and screening equipment manufacturer, launches its Rs 42 crore IPO today, aiming to list on the NSE SME platform on September 16. The IPO consists of a fresh issue of 24.87 lakh shares, with proceeds allocated for machinery, R&D, working capital, and general corporate purposes. While revenue surged, profit after tax […]
Karbonsteel Engineering IPO opens for subscription today; GMP among key details to know before subscribing
Karbonsteel Engineering is set to launch its Initial Public Offering of Rs 59 crore. The IPO will open on Tuesday and close on September 11. The company aims to list on BSE SME platform on September 16. It plans to use the funds for facility expansion and debt repayment. The IPO includes a fresh issue […]
Jane Street faces off with India market regulator in court
Jane Street Group is appealing a SEBI order accusing them of manipulative practices in India’s derivatives market. The firm claims SEBI is withholding crucial documents needed for their defense, seeking a halt to regulatory action. The case has significant implications for global quantitative firms operating in India, as the court will consider whether SEBI is […]