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Mar 20, 2023
Sebi proposes more shareholder rights; Consultation paper suggests tighter governance

The Securities and Exchange Board of India (Sebi) on Tuesday proposed changes to governance norms for listed entities that give more rights to shareholders while increasing corporate disclosures on agreements binding them.

For example, any agreement that impacts the management or control of a listed entity or create a liability for it must be disclosed, Sebi said in a consultation paper.

In such cases, while the listed entity was not a party to the agreement, the same could have a material impact on business.

It added that shareholder agreements are not part of the Articles of Association (AoA) but binding and placing restrictions are generally not placed before shareholders for approval. This denies them an opportunity to examine such agreements.

The regulator also proposes to mandate listed entities to make such disclosures in their annual reports from the coming financial year, and any agreement between shareholders and third parties, to which the entity is not a party, shall be disclosed to the company within two days. The firm shall, in turn, disclose the same to exchanges. It proposes to include existing and subsisting agreements.

At the same time, it also proposes to give the board a say in reviewing whether such agreements lie in the interest of the company, and the option to reject the same.

The markets regulator has also sought comments on reviewing special rights accorded to shareholders. It says special rights and privileges enjoyed by certain shareholders need to be agreed upon by other shareholders.

While such special rights must be reviewed post-listing, it observed that public institutional shareholders of recently-listed firms, especially new-age startups, have been continuously objecting to special privileges accorded to promoters or founders. Therefore, it says any special rights granted must be put up for review every five years before shareholders.

Among other proposals, the regulator seeks to address permanency in board positions, calling for periodic review. This pertains to directors to whom the ‘retirement by rotation’ clause is not applicable.

It proposes that from April 1, 2024, listed entities shall ensure directorship of all members is subject to shareholder review every five years.

For protecting the interest of minority shareholders in the case of disposal or lease of the whole company or all assets, it proposes to amend clauses in the LODR norms to ensure disclosure of details of such transactions to all shareholders. The regulator has sought comments on the above proposals till March 7.

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Mar 17, 2023
Share Market Highlights: Nifty settles below 17800, Sensex plunges 250 pts; Bank Nifty dips 270 pts, Nykaa shares fall 2%

Share Market News Today | Sensex, Nifty, Share Prices Highlights: Domestic equity indices concluded Monday’s volatile session in the red territory.  The Sensex closed below 60,450 and the Nifty settled above 17,800. The BSE Sensex fell 250.86 points or 0.41% to 60,431.84 and NSE Nifty 50 plunged 85.60 pts or 0.48% to 17,770.90. The top gainers on Sensex were Titan, Larsen & Toubro, NTPC, Bajaj Auto and Eicher Motors while the losers were Adani Enterprises, Adani Ports, State Bank of India, Infosys and Apollo Hospitals.

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Share Market Today | Sensex, Nifty, BSE, NSE, Share Prices, Stock Market News Highlights

17:12 (IST) 13 Feb 2023 Nykaa Q3 results: Net profit falls 68%

FSN E-Commerce, the parent company of Nykaa, reported a 68% on-year fall in its net profit to Rs 9.2 crore for the third quarter of the current fiscal, as compared to Rs 29 crore in the year-ago period. The revenue from operations jumped 33% to Rs 1462 crore from Rs 1098 crore in the same period the previous year. On Monday ahead of the quarterly results, Nykaa shares closed 2.68% lower at Rs 150.55. Falguni Nayar’s company’s expenses jumped 36% on-year to Rs 1455 crore in the October-December quarter of the ongoing financial year as compared to Rs 1067 crore in the last year’s corresponding quarter.

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15:49 (IST) 13 Feb 2023 Top gainers/losers

The top gainers on Sensex were Titan, Larsen & Toubro, NTPC, Bajaj Auto and Eicher Motors while the losers were Adani Enterprises, Adani Ports, State Bank of India, Infosys and Apollo Hospitals.

15:45 (IST) 13 Feb 2023 Nifty, Sensex settle in red

The BSE Sensex fell 250.86 points or 0.41% to 60,431.84 and NSE Nifty 50 plunged 85.60 pts or 0.48% to 17,770.90.

13:25 (IST) 13 Feb 2023 Volume toppers

SBI, Infosys, Asian Paints, Tata Steel, Reliance Industries, L&T, Bajaj Finance are among the volume toppers on the BSE Sensex-30 index.

13:25 (IST) 13 Feb 2023 NSE 52-week lows

Alternatively, 67 stocks including Bharat Rasayan, Shaily Engineering Plastics, Adani Total Gas, Adani Transmission, Cheviot Company, Barbeque Nation Hospitality, Adani Green Energy, HLE Glascoat, Alembic Pharmaceuticals, Matrimony.Com, TCNS Clothing Co., Visaka Industries, Rupa & Company, Vidhi Specialty Food Ingredients, Hitech Corporation, Jayant Agro Organics are at 52 week lows.

13:25 (IST) 13 Feb 2023 NSE 52-week highs

On the NSE Nifty, 39 stocks hit their 52 week highs including Fourth Dimension Solutions, Archean Chemical Industries, Blue Star, APL Apollo Tubes, Axita Cotton, Cera Sanitaryware, ION Exchange (India), Safari Industries (India), Kingfa Science & Technology (India), Blue Star, PG Electroplast, KDDL, Rane Holdings, Landmark Cars, Sonata Software, CG Power and Industrial Solutions, Mold-Tek Technologies, The Motor & General Finance, Fourth Dimension Solutions among others.

13:24 (IST) 13 Feb 2023 BSE 52-week lows

On the flip side, 120 stocks fell to their 52 week lows.TCNS Clothing Co., TechNVision Ventures, Smruthi Organics, Shri Jagdamba Polymers, Shaily Engineering Plastics, Rupa & Company, Sarvottam Finvest, PG Foils, Varroc Engineering, Matrimony.com, Mahindra Logistics, KSE, Hitech Corporation, HLE Glascoat, Aditya Birla Sun Life AMC, Fermenta Biotech, EKI Energy Services, Dollar Industries, DCX Systems, Dharmaj Crop Guard, Alembic Pharmaceuticals, Adani Transmission, Adani Green Energy and others were among these scrips.

13:24 (IST) 13 Feb 2023 BSE 52-week highs

On the BSE Sensex, 112 stocks rose to hit fresh 52 week highs.Waaree Renewable Technologies, Uniphos Enterprises, Taylormade Renewables, Siemens, SAR Auto Products, Sanghvi Movers, Sonata Software, Starlineps Enterprises, Rane (Madras), Ratnamani Metals & Tubes, Safari Industries (India), Polychem, Kingfa Science & Technology (India), KDDL, Landmark Cars, Comfort Fincap, Dalmia Bharat, H.G. Infra Engineering, Integra Engineering India, Cera Sanitaryware, APL Apollo Tubes, Carborundum Universal, Blue Star and many others were among those to hit these highs.

13:23 (IST) 13 Feb 2023 Nifty gainers/losers

On the NSE Nifty index, the top winners are Titan, L&T, Bajaj Auto, Eicher Motors, NTPC, with Titan up 1.88%. The biggest laggards are Adani Enterprises, Adani Ports, SBI, Infosys and Bajaj Finance, with Bajaj Enterprises down 7.2%.

10:25 (IST) 13 Feb 2023 Adani Green Energy shares fall 5%

Four Adani Group stocks hit a lower circuit in the early morning trade on Monday after a ratings outlook cut by Moody’s dampened investors’ sentiment. Adani Green Energy shares were locked in the lower circuit, falling 5% to Rs 687.75 after Moody’s downgraded the company’s outlook to ‘negative’ from ‘stable’. Adani Power shares tanked 5%, trading at Rs 156.10, Adani Transmission was down 5% at Rs 1126.85 and Adani Total Gas fell 5% to Rs 1195.35. On the flip side, Adani Enterprises and Adani Ports and Special Economic Zone shares were up marginally.

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10:23 (IST) 13 Feb 2023 Paytm shares rise 4%

Paytm shares recovered partly today after sinking 9% on Friday after the Chinese e-commerce giant Alibaba offloaded its entire holding in the online payments aggregator. Paytm shares rose 4.28% to Rs 678.00 on BSE in an otherwise negative market with Sensex and Nifty 50 falling half a percent. Alibaba offloaded 21,431,822 shares of Paytm’s parent One97 Communications in a bulk deal on Friday, translating to about a 3.4% equity stake.

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09:24 (IST) 13 Feb 2023 Top gainers/losers

The top gainers on the Sensex were Titan, Bajaj Finserv, Bharti Airtel, Asian Paint and ITC while the losers were Infosys, Wipro, Hindustan Unilever, Tech Mahindra and TCS.

09:23 (IST) 13 Feb 2023 Sensex, Nifty turn green

Indices opened on a flat note on Monday. The NSE Nifty 50 rose 13.45 or 0.08 to 17,869.95 and BSE Sensex gained 51.78 pts or 0.09% to 60,734.48.

08:38 (IST) 13 Feb 2023 US markets end on a mixed note

The US equity indices ended Friday’s session mixed. The Dow Jones Industrial Average rose 169.30 pts or 0.50 % to 33,869.27, S&P 500 rose 8.96 pts or 0.22% to 4,090.46 and Nasdaq fell 71.46 pts or 0.61% to 11,718.12.

08:34 (IST) 13 Feb 2023 Asian marktes trade lower

Asian markets were trading mostly in green in the early morning trade. Japan’s Nikkei 225 fell 316.17 or 1.41% to 27,354.81, Hong Kong’s Hang Seng dipped 220.98 pts or 1.04% to 20,969.44 and China’s Shanghai Composite index rose 12.66 pts or 0.39% to 3,273.33.

08:30 (IST) 13 Feb 2023 Nykaa, Zee to report Q3 results today

FSN E-Commerce Ventures (Nykaa), Zee Entertainment, Power Finance Corporation, Sun Pharma Advanced Research Company, Shree Renuka Sugars, SAIL and others will report quarterly results today.

08:28 (IST) 13 Feb 2023 Alibaba offloads entire stake in PayTm

Chinese e-commerce giant Alibaba has offloaded its entire holding in online payments aggregator Paytm. Alibaba sold 21,431,822 shares of Paytm’s parent One97 Communications in a bulk deal on Friday, translating to about a 3.4% equity stake. Alibaba had, in January, already pared 3.1% of its 6.26% holding in Paytm. The Chinese company has been exiting its India investments, having already offloaded its stakes in Zomato and BigBasket earlier.

08:26 (IST) 13 Feb 2023 Moody’s changes outlook of four Adani Group companies

Moody’s Investors Service has affirmed the ratings on eight Adani Group companies, including Adani Green Energy. Moody’s has changed the outlook of four Adani Group companies—Adani Green Energy, Adani Green Energy Restricted Group, Adani Transmission Step-One, and Adani Electricity Mumbai—to “negative” from “stable”. It maintained a “stable” outlook for four others—Adani Ports and Special Economic Zone, Adani International Container Terminal, Adani Green Energy Restricted Group-2, and Adani Transmission Restricted Group 1.

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Mar 17, 2023
Sebi clarifies on transaction in corp bonds via Request for Quote platform by AIFs

Capital markets regulator Sebi on Thursday provided clarity on transaction made by Alternative Investment Funds (AIFs) in corporate bonds through Request For Quote (RFQ) platform.

In its circular, the Securities and Exchange Board of India (Sebi) clarified that all transactions in corporate bonds, wherein AIF is on both sides of the trade would be executed through RFQ platform in ‘one-to-one’ mode.

However, any transaction entered by an AIF in corporate bonds in ‘one-to-many’ mode which gets executed with another AIF, would be counted in ‘one-to-many’ mode and not in ‘one-to-one’ mode.

This would come into force from April 1, 2023.

Quotes or bids on RFQ platform can be placed to an identified counterparty in one-to-one mode or to all the participants in one-to-many mode.

Under the norms, AIFs will have to undertake at least 10 per cent of their total secondary market trades in corporate bonds by value in a month by placing quotes on the RFQ platform.

Also Read: Sebi lets AMCs provide advisory services to all FPIs at IFSC

RFQ is an electronic platform that enables multilateral negotiations to take place on a centralized online trading platform with straight through processing of clearing and settlement to complete trades.

In February 2020, pursuant to approvals from Sebi, both National Stock Exchange of India (NSE) and BSE launched RFQ platforms, as an extension of their existing trade execution and settlement platforms, in order to bring in transparency in “Over the Counter” deals in corporate bonds, which were negotiated bilaterally.

The platform provides participants a range of options to seek a quote and to respond to a quote, while keeping an audit trail of all interactions — quoted yield, mutually agreed price and deal term.

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Mar 15, 2023
Paytm shares partly recover Friday’s loss from Alibaba’s entire stake sale, jump 4% today

Paytm shares recovered partly today after sinking 9% on Friday after the Chinese e-commerce giant Alibaba offloaded its entire holding in the online payments aggregator. Paytm shares rose 4.28% to Rs 678.00 on BSE in an otherwise negative market with Sensex and Nifty 50 falling half a percent. Alibaba offloaded 21,431,822 shares of Paytm’s parent One97 Communications in a bulk deal on Friday, translating to about a 3.4% equity stake. The company saw a Rs 3,520 crore wipe-out in market capitalisation on Friday, according to data. Alibaba in January already pared 3.1% of its 6.26% holding in Paytm. The Chinese company has been exiting its India investments, having already offloaded its stakes in Zomato and BigBasket earlier.

One97 communications Ltd (parent company of Paytm) shares have been falling since it launched its Rs 18,300 crore IPO in November 2021 at an issue price of Rs 2150 per share. The shares were listed at a 9% discount at Rs 1950 and then sank to Rs 1500. In just one year, shares tanked 77%, reaching an all-time low of Rs 439.60 on 24 November 2022. Its full market capitalization at present is Rs 42,755.42 crore, according to BSE. 

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Mar 14, 2023
Adani Enterprises, SBI, HDFC AMC, Apollo Tyres, ITC, Ambuja Cement, Paytm, Berger Paints stocks in focus

Indian share market is likely to open on a positive note on the week’s last trading day, hinted SGX Nifty. On the Singapore Exchange, Nifty futures traded higher at 17688 level. In the previous session, BSE Sensex gained 224 pts to 59,932, while NSE Nifty 50 fell 6 pts to 17,610. “Global cues are gradually turning positive; however, domestic factors and increase in volatility in the last couple of days are likely to keep market sideways in the near term. Stock-specific action will continue as the result season progresses,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services Ltd.

Stocks in focus on 3 February, Friday

HDFC Asset Management Company: Market regulator SEBI has given an approval and permitted Abrdn Investment Management to reduce its shareholding in HDFC AMC to less than 10%. In December 2022, HDFC AMC had received letter from Abrdn Investment Management, one of the promoters holding 10.21% in the company, intending to sell their entire stake in the company. Abrdn Investment Management is the co-sponsor of HDFC Mutual Fund.

Adani group stocks: The National Stock Exchange (NSE) has put Adani Enterprises, Adani Port, Ambuja Cement under additional surveillance measure (ASM) framework starting 3 February, especially after a massive stock rout in most of Adani group stocks. This means the intraday trading will also require 100% upfront margin. ASM was introduced by the Indian market regulator SEBI and the bourses as a risk containment and surveillance measure to monitor highly volatile stocks.

IndusInd Bank: The Hinduja Group is looking to increase its stake in IndusInd Bank to 26% from the existing 16.51%, according to reports. IndusInd International Holdings, promoter of IndusInd Bank, is reportedly preparing the application for the process and will further submit the same to the Reserve Bank of India (RBI).

Inox Green Energy Services: The wind power operation and maintenance service provider entered into a definitive investment agreement with I-Fox Windtechnik India, an independent O&M wind service provider, to acquire 51% stake in I-Fox at Rs 35,947.71 per share. I-Fox has a fleet of 230+MW majorly operating in South India. With this acquisition, company entered into multi-brand OEM wind turbine O&M business.

Berger Paints India: The paint company has recorded a 20.5% on-year growth in consolidated profit at Rs 200.94 crore for quarter ended December impacted by weak operating margin performance. Revenue for the quarter at Rs 2,694 crore grew by 5.6%, but EBITDA fell by 11% to Rs 350 crore compared to year-ago period.

Apollo Tyres: The tyre manufacturer has reported a 31% on-year growth in consolidated profit at Rs 292.1 crore for Q3FY23 despite spike in input & finance costs. Revenue for the quarter at Rs 6,423 crore increased by 12.5% and EBITDA jumped 23% to Rs 913.4 crore with margin expansion of 120 bps compared to year-ago period. Jaimini Bhagwati is appointed as Independent Director on the board.

Q3 Results today: ITC, State Bank of India, Divi’s Labs, Bank of Baroda, Tata Power, InterGlobe Aviation, One 97 Communications (Paytm), Marico, Mahindra & Mahindra Financial Services, Zydus Lifesciences, Manappuram Finance, Aarti Industries, Borosil, Clariant Chemicals, Elgi Equipments, Emami, Engineers India, India Cements, Intellect Design Arena, JK Tyre & Industries, Jubilant Pharmova, Kansai Nerolac Paints, Nava, Praj Industries, Quess Corp, Shipping Corporation of India, Sun TV Network, and Tube Investments of India will report their quarterly earnings on 3 February.

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Mar 14, 2023
Nifty support at 16100, buy dips to add quality stocks; monthly chart shows extended correction in Bank Nifty

By Dharmesh Shah

Equity benchmarks concluded a volatile week on a negative note tracking global volatility. The Nifty ended the week at 16411, down 4%. Broader markets indices relatively underperformed the benchmark as Nifty midcap and small cap lost 4% and 6.5%, respectively. Sectorally, all major indices ended in red weighed by financials, auto, realty

The index started the truncated week with a negative gap and gradually drifted southward as an unscheduled rate hike announcement by RBI followed by Fed rate hike dented the market sentiment. As a result, contrary to our expectation Nifty breached key support of 16800 accelerating further decline amid weak global cues and spike in volatility. The weekly price action formed a sizable bear candle carrying lower high-low, indicating extended correction.

Going forward, key support is placed at 16100 levels being 80% retracement of March rally. Only a decisive close below 16100 would lead Nifty 50 index to extended correction towards the March low of 15700. However, we observe that the past four weeks’ corrective move hauled daily and weekly stochastic oscillators in extreme oversold territory (currently placed at 8 and 16, respectively). In earlier occasions, during CY18-20, after approaching such lower reading below 20, markets have witnessed technical pullback. 

Thus, we advise traders to refrain from creating aggressive short positions in the current highly volatile scenario. Instead, one should capitalize dips to construct portfolios in quality stocks in a staggered manner. Meanwhile, immediate upsides are capped at breakdown area of 16800

Historically, over the past two decades, on 16 out of 20 occasions despite a transitory breach (not greater than 5%) of the 52-week EMA (currently 16600) index has generated decent returns in subsequent 3 month and 6 months. In the current scenario 5% from 200 days EMA will mature at 15700.

Key monitorable in coming weeks will be cool off in domestic and global volatility which has inverse correlation with equities. Thus cool off in volatility coupled with oversold conditions will pave the way for technical pullback.

On the sectoral front, BFSI, Telecom, IT sectors offer favourable risk-reward proposition

The broader market indices behaved in tandem with benchmark. Currently, Nifty midcap, Nifty small cap indices are hovering around 52 weeks EMA. We believe prolonged consolidation from hereon would help the weekly stochastic oscillator to cool off amid ongoing Q4FY22 earning season. Going ahead, the formation of higher high-low on the weekly chart would confirm pause in downward momentum

Nifty Chart

Bank Nifty Outlook

The Nifty Bank index witnessed sharp decline and closed lower by 4% last week amid weak global cues and unscheduled rate hike by RBI. Index contrary to our expectations, breached the support area of 35000 and in the weekly price action formed a sizable bear candle with a lower high-low signaling continuation of the corrective decline.

Key support for the index is placed at 33500 levels being the 80% retracement of the entire March up move. Only a decisive close below 33500 would lead to extended correction towards the March low of 32155. Immediate upsides are capped at 36000 levels.

Index has stiff hurdle around 36000 levels being the confluence of last Thursday high and the 38.2% retracement of current decline (38765-34353).

The formation of lower high-low on the monthly chart signifies extended correction. However, the index has witnessed a shallow retracement of its preceding up move and has already taken five weeks to retrace just 61.8% of its preceding four weeks up move (32156-38765). A shallow retracement signals a higher base formation. The index has support around 33500 levels as it is confluence of:

a) 80% retracement of the entire March 2022 up move (32155-38765) placed at 33500 levels

b) bullish gap area of 10th March 2022 is also placed around 33700 levels

Among the oscillators the weekly stochastic is currently approaching oversold territory with a reading of 20 signaling a pullback likely in the coming weeks

Dharmesh Shah is the Head – Technical at ICICI Direct. Please consult your financial advisor before investing.)

ICICI Securities Limited is a SEBI registered Research Analyst having registration no. INH000000990. It is confirmed that the Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 21/01/2022 or have no other financial interest and do not have any material conflict of interest. I-Sec or its associates might have received any compensation towards merchant banking/ broking services from the subject companies mentioned as clients in preceding 12 months.

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Mar 12, 2023
Keshoraipatan Rajasthan Assembly Constituency Election 2023: Date of Result, Voting, Counting; Candidates

As anticipation mounts for the upcoming Keshoraipatan Constituency Election in Rajasthan, voters are eagerly awaiting the big battle that kicks off with the announcement of key dates by the Election Commission of India. Here, we provide you with essential details about the Keshoraipatan Constituency Assembly Election 2023 that every voter should be aware of.

Keshoraipatan Constituency Rajasthan Assembly Election 2023: Voting Date

The voting date for the Keshoraipatan Assembly Constituency Election 2023 has been officially announced by the Election Commission. As per the ECI, Keshoraipatan Assembly Constituency will go to polls on November 25. Stay tuned for updates as we bring you the latest information.

Keshoraipatan Rajasthan Election 2023: Candidates

Watch this space as prominent political parties, including the Bharatiya Janata Party (BJP)Indian National Congress (INC)and Independent(IND) along with others, are poised to reveal their candidates for the Keshoraipatan Assembly Constituency Election 2023 post the official declaration of voting dates by the Election Commission of India.

Stay informed as we bring you the latest updates on the Keshoraipatan Assembly Constituency Election 2023, keeping you abreast of all the developments and insights that matter to you.

Keshoraipatan Constituency RJ Election Result: What happened in 2018

Chandrakanta Meghwal from Keshoraipatan of Rajasthan, won the seat with 72596 votes. He defeated Indian National Congress’ Rakesh Boyat who had polled 65477 votes. The winning margin was 7119 votes.

2018 Keshoraipatan Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesChandrakanta MeghwalBharatiya Janata Party72596

Candidate List Party Name Votes Gained (Vote %) Chandrakanta Meghwal Bharatiya Janata Party 72596 (39.21%) Rakesh Boyat Indian National Congress 65477 (35.36%) Chunnilal Premi Independent 35115 (18.96%) None Of The Above None Of The Above 4253 (2.3%) Shankar Bairwa Independent 2343 (1.27%) Sharwan Kumar Bahujan Samaj Party 1683 (0.91%) Yogesh Kumar Verma Independent 1454 (0.79%) Rajesh Kumar Meghwal Bharatiya Yuva Shakti 668 (0.36%) Mahaveer Prasad Bharatiya Rashtravadi Samanta Party 662 (0.36%) Arvind Singh Aam Aadmi Party 572 (0.31%) Prahlad Rashtriya Mazdoor Kisan Party 335 (0.18%)

Keshoraipatan Constituency RJ Election Result: What happened in 2013

In the Rajasthan Assembly election of 2013, Baboo Lal Verma won from the Keshoraipatan seat garnering 63293 votes and defeated Indian National Congress candidate Chunni Lal Urf C L Premi who bagged 50562 votes. The candidate who came third was National People’s Party’ Ghasi Lal.

Baboo Lal Verma got 63293 votes while Chunni Lal Urf C L Premi got 50562 votes.

2013 Keshoraipatan Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesBaboo Lal VermaBharatiya Janata Party63293

Candidate List Party Name Votes Gained (Vote %) Baboo Lal Verma Bharatiya Janata Party 63293 (38.48%) Chunni Lal Urf C L Premi Indian National Congress 50562 (30.74%) Ghasi Lal National People’s Party 37155 (22.59%) None Of The Above None Of The Above 7230 (4.4%) Sunita Kumari Merotha Bharatiya Yuva Shakti 2220 (1.35%) Jamna Lal Bahujan Samaj Party 2029 (1.23%) Suresh S D Bahujan Sangharshh Dal 1984 (1.21%)

Keshoraipatan Constituency RJ Election Result: What happened in 2008

C L Premi of the INC was the winning candidate from the Keshoraipatan constituency in the RJ Assembly elections 2008, securing 49047 votes while 45631 votes were polled in favour of Gopal Pacherwal of the BJP. The margin of victory was 3416 votes.

2008 Keshoraipatan Assembly Constituency Election Result

Winning Candidate NameParty NameTotal VotesC L PremiINC49047

Candidate List Party Name Votes Gained (Vote %) C L Premi INC 49047 (41.2%) Gopal Pacherwal BJP 45631 (38.33%) Ghasilal Meghwal IND 13219 (11.1%) Mangi Lal LSWP 7903 (6.64%) Dinesh Samariya BSP 3250 (2.73%)

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Mar 12, 2023
NSE to allow WTI crude oil, natural gas trading in rupees, signs pact with CME

The National Stock Exchange (NSE) will list, trade and settle rupee denominated NYMEX WTI Crude Oil and Natural Gas (Henry Hub) derivatives contracts for Indian market participants. It has signed a data licensing agreement with derivatives marketplace CME Group to allow this trading in India.

The futures contracts will be listed on the stock exchange, bolstering its commodity segment, once the Securities and Exchange Board of India (SEBI) gives their approval. This agreement will help NSE broaden their energy basket. The exchange stated that it is hopeful that these contracts will be beneficial for the Indian market participants to meet their price risk management activities as well as trading objectives.

Will traders move from MCX?

However, some analysts predict that the MCX will continue to gold the favor of non-agro commodity traders. “For Indian participants who want to trade in commodities, MCX is already offering MCX Crude oil and MCX Natural Gas derivatives on their platform. Majority of the participants who trade in non-agro commodities choose MCX platform, while for agro commodities, NCDEX is their preferred exchange. So NSE is offering these products to lure commodity participants to their exchange,” said Bhavik Patel, Commodity and Currency Analyst, Tradebull Securities.

“Introduction of WTI Crude oil and Natural Gas (Henry Hub) derivatives will certainly give Indian participants more choice to trade but we believe MCX will still hold their market share in Crude and Natural Gas despite NSE offerings. MCX is also offering options derivatives in both Crude and Natural Gas future contracts and participants have embraced it as we can see high volumes. Habits are also hard to change and traders who prefer to trade in one exchange seldom shift to another exchange. So in essence, MCX Crude and Natural Gas will continue to remain the preferred trade for commodity traders,” he added.

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Mar 10, 2023
FII DII data: FPI bought shares worth Rs 1322.39 crore, DII purchased shares worth Rs 521.69 crore on Feb 13

Foreign institutional investors (FII) bought shares worth a net Rs 1322.39 crore while domestic institutional investors (DII) purchased shares worth a net Rs 521.69 crore on Monday, February 13, 2023, according to the data available on NSE. For the month till February 13, FIIs sold shares worth a net Rs 4,091.82 crore while DIIs bought shares worth a net Rs 6,974.74 crore. In the month of January, FIIs sold shares worth a net of Rs 41,464.73 crore while DIIs purchased equities worth a net of Rs 33,411.85 crore.

Foreign institutional investors (FII) or Foreign portfolio investors (FPI) are those who invest in the financial assets of a country while not being part of it. On the other hand, domestic institutional investors (DII), as the name suggests, invest in the country they’re living in. Political and economic trends impact the investment decisions of both FIIs and DIIs. Additionally, both types of investors — foreign institutional investors (FIIs) and domestic institutional investors (DIIs) —  can impact the economy’s net investment flows.

“In response to rising bond yields and the dollar index, the domestic market is experiencing a broad-based sell-off, with IT and PSBs at the forefront. Clampdown on the Adani group is adding anxiety to the domestic market. US inflation is expected to fall further from its December low of 6.5%, alleviating concerns about US rate hikes. However, interest rates are expected to stay high in 2023 and elevated yields will be a discomfort for equity.,” said Vinod Nair, Head of Research at Geojit Financial Services.

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Mar 8, 2023
Rupee falls 40 paise to close at 82.20 against US dollar

The rupee fell 40 paise to close below the 82 per US dollar mark on Thursday, weighed down by foreign fund outflows and corporate dollar demand.

At the interbank foreign exchange market, the rupee opened at 81.81 against the greenback, and touched an intra-day high of 81.71 and a low of 82.20.

Also read: Markets Ahead: Sensex, Nifty end mixed for second session; valuation drags, indices may trade flat in near term

On Wednesday, the rupee had appreciated 8 paise to close at 81.80 against the dollar after Finance Minister Nirmala Sitharaman presented the Union Budget for 2023-24.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.12 per cent lower at 101.10, after the US Fed hiked the interest rate along expected lines by 25 basis points to 4.50-4.75 per cent.

Global oil benchmark Brent crude futures declined 0.14 per cent to USD 82.72 per barrel.

“The Indian rupee became the worst performer among Asian currencies amid foreign fund outflows and corporate dollar demand from hedgers. The weakness in the regional currencies and higher precious metal prices also weighed on the rupee,” said Dilip Parmar, Research Analyst, HDFC Securities.

Also read: 7 days of Adani share price rout since Hindenburg to FPO withdrawal; investor wealth nearly halved

Parmar further said “spot USD-INR has crossed 82.10, the 50-day simple moving average, paving the way for 82.50 and 82.96 while on the downside 81.80 becomes the strong support.” The 30-share BSE Sensex ended 224.16 points or 0.38 per cent higher at 59,932.24, while the broader NSE Nifty declined 5.90 points or 0.03 per cent to 17,610.40.

Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Wednesday as they purchased shares worth Rs 1,785.21 crore, according to exchange data.

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