Market (Page 3)

India’s shrinking economy is not stopping from pouring money into the nation’s stocks betting on a recovery.

International buyers plowed a net $6 billion into shares in Asia’s third-largest economy in August, the most since March last year. That’s as all other in the region excluding China suffered net withdrawals during the month.

Part of it is a bet that Indian equities will play catch-up after trailing the region’s benchmark so far in 2020: the S&P Sensex has underperformed the MSCI Asia Pacific Index by about 6.5 percentage points. Foreigners were also drawn to share sales by some of India’s marquee financial firms — Ltd., Axis Bank Ltd. and mortgage lender Housing Development Finance Corp raised a combined ($4.7 billion) last month.

“We place India at the top of the list with China for investment returns

The technology sell-off was speculative excess coming off a hot market, rather than the beginning of a broader pullback. That’s the consensus view of investors and strategists after Thursday’s 5.2 per cent plunge in the Nasdaq 100 Index, the worst since March.

With the pandemic continuing to rage and a vaccine likely months away, bulls say there are plenty of good reasons why technology shares can be supported at current levels, despite lofty valuations.

Jobs and a holiday

“Yes, today was a bad day. Ripe for profit-taking, but even with the 3 per cent to 5 per cent drop, are still at impressive levels,” said Larry Peruzzi, director of international trading at Mischler Financial. The monthly jobs report — a key data point amid Covid times — comes out Friday morning US time and that “could restart the

Route Mobile, a cloud communications service provider, will launch its initial public offering next week to raise an estimated Rs 600 crore, merchant banking sources said on Thursday.

The public offer comprises a fresh issue worth Rs 240 crore and an offer for sale (OFS) of Rs 360 crore by promoters — Y Sandipkumar Gupta and Rajdipkumar Gupta, as per the draft red herring prospectus (DRHP) filed by the company.

Additionally, a pre-IPO placement aggregating up to Rs 100 crore may be considered in consultation with the book running lead managers (BRLMs) which will reduce the size of the offer, retrospectively, the draft papers noted.

The company had received approval from regulator Sebi in December 2019 to float the initial public offer (IPO).

The cloud communications service provider had initially filed for its IPO in January

The Securities and Exchange Board of India (Sebi) has ordered attachment of bank and demat accounts of two dozen in the matters of three companies — Mass Infra Realty, Skymarg Agro Industries India, and Life Care Real Developers — to recover dues totalling nearly Rs 40 crore.

The are 11 directors of Mass Infra Realty, five directors of Skymarg Agro, Life Care and its seven directors, the regulator said in three separate notices.

The decision has been taken after Mass Infra Realty and Skymarg Agro failed to comply with Sebi’s direction to refund money to investors to the tune of Rs 37.9 crore and Rs 30.67 lakh respectively.

had directed Mass Infra Realty and Skymarg Agro in April 2016 and November 2017, respectively, to refund money to investors.

To further enhance transparency, regulator on Tuesday revised disclosure requirements pertaining to debt and money market securities transactions for mutual funds.

The new framework will come into effect from October 1, the Securities and Exchange Board of India (Sebi) said in circular.

Now, the regulator has asked mutual funds to disclosedetails of debt andmoneymarketsecurities transactedin their schemes portfolio, including inter-scheme transfers, on a dailybasis witha time lag of 15 days in a prescribed format.

At present, a time lag of 30 days has been been allowed.

Under the new disclosure format, fund houses need to mention about name of the security, type of security, most conservative rating of security at thetime of transaction, if applicable,name of the rating agency and transaction type.

Among others, they need to disclose aboutlisted status of security, name

Capital regulator on Monday imposed a total of Rs 4 lakh on four entities for disclosure lapses in the matter of SRK Industries Ltd.

In four separate orders, a of Rs 1 lakh each has been levied by the regulator on Geeta Narayanan, Birendra Kumar Jain, Island Media and Entertainment Pvt Ltd and Maxgain Advisory Pvt Ltd.

Securities and Exchange Board of India (Sebi) had conducted an investigation in the matter of trading in SRK Industries’ shares by its promoters for the period of March 2010 to December 2014.

It was found that the entities had failed to make complete disclosures required under PIT (prohibition of insider trading) norms for becoming the promoters of SRK, due to a scheme of arrangement approved by High Court of Bombay and High Court of Madras for the merger