Vedanta delisting fails; company to return all the shares tendered

Billionaire Anil Agarwal’s Vedanta Resources on Saturday said that they have failed to garner the required number of shares to delist Indian subsidiary Vedanta. The total number of shares validly tendered by the public shareholders in the delisting offer is 125.47 crore, which is less than the minimum number of …

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Grey market sees up to 80% listing pop for Mazagon, weak start for UTI AMC

The unlisted market is suggesting a robust debut for PSU mini-ratna Magazon Dock Shipbuilders on Monday, while mutual fund firm UTI Asset Management Company (AMC) may open flat to marginally lower from its issue price. According to the dealers of unlisted space, Magazon Dock Shipbuilders was available at a premium …

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How to play on market’s reversion to the mean: Tobias Carlisle offers a few tips

Renowned investor Tobias Carlisle says if one wants to ensure the best risk-reward ratio for herself, deep value investing is the way to go, and that would require her to be willing to go against intuition and what is normally accepted in the investment world. The first step to becoming …

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RBI hit all the right chords by addressing both immediate and long-term needs

During difficult times, as we are witnessing at present, people often have many expectations from the government and the regulator. It is also incumbent upon the regulators and policy makers to look after the interests of all their stakeholders in such tough times. Through today’s credit policy, the RBI Governor …

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Don’t expect Mazagon to do an IRCTC on debut; grey market premium shrinks

NEW DELHI: After a series of stellar debuts on Dalal Street, PSU mini-ratna Mazagon Dock shipbuilders was being projected as the next stock waiting to deliver eye-popping listing gains. Investors are keenly awaiting for the debut as the initial public offer (IPO) saw highest-ever subscription among all PSUs that have …

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BSE StAR MF logs net equity inflow of Rs 1,488 cr in Sept

Mutual funds distributor platform BSE StAR MF registered a net inflow of Rs 1,488 crore in equity schemes in September amid market volatility, BSE said on Thursday. In contrast, the mutual fund (MF) industry witnessed a net withdrawal of Rs 734 crore from equity-oriented schemes during the same month, the …

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Asian shares close in on 2-1/2-year peak as US stimulus hopes return

TOKYO/NEW YORK: Asian shares inched close to 2-1/2-year highs on Friday as revived hopes for a U.S. stimulus deal eclipsed weaker-than-expected jobs data, while mainland Chinese markets jumped after a week-long holiday. Investors are also increasingly expecting the Democrats to take back the White House, and possibly the Senate as …

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mutual fund schemes: Sebi tightens rules on inter-scheme transfers in mutual fund schemes

The Securities and Exchange Board of India (Sebi) has tightened rules on inter-scheme transfers (ISTs) in mutual fund schemes. The regulator said inter-scheme transfers for managing liquidity should only be taken after all other avenues including using cash, market borrowing and selling securities in the market, for raising liquidity have …

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Ant Group faces US headwinds in race to IPO before Trump vote

By Julia Fioretti, Lulu Yilun Chen and Abhishek Vishnoi Jack Ma’s Ant Group has a narrow window to make its much-anticipated market debut ahead of U.S. election turbulence. Now its bankers must grapple with any potential delays stemming from a debate in Washington over restrictions on the payments behemoth. Discussions …

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Sebi tightens inter-scheme transfer norms for mutual funds

MUMBAI: The Securities and Exchange Board of India (Sebi) on Thursday tightened inter-scheme transfer (IST) norms for mutual funds to further safeguard investors’ interest, and said such rules will be applicable from January 1. As per the current norms, transfers of securities from one scheme to another scheme in the …

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