From the final phase of Jammu and Kashmir Assembly Elections to Amit Shah’s potential Mumbai visit and new economic regulations, today is a pivotal day in India. This article provides a comprehensive overview of key events, including increased minimum wages, revised transaction charges at stock exchanges, and Australia’s new work visa program.
The Bombay Stock Exchange (BSE) Sensex crossed the historic 84,000 mark for the first time, with over 250 stocks hitting their one-year highs. Prime Minister Narendra Modi launched a fresh attack against the Congress in poll-bound Maharashtra, accusing the party of hindering progress for marginalized communities. Meanwhile, the Supreme Court’s YouTube channel was temporarily taken down after it was hacked and displayed cryptocurrency videos. The Tirupati laddu adulteration controversy continues to escalate.
Indian companies have reported mixed financial results for the June quarter, with revenue growth but a decline in net profits. Excluding BFSI companies, revenue growth was even lower, while profits fell more sharply. This analysis covers 204 BSE-listed companies, with more results expected in the coming weeks.
This news update covers a range of topics, including a significant GST notice issued to Zomato by the Karnataka government, a surge in market capitalization of top BSE firms led by Reliance Industries, and flash flood warnings issued by the IMD across India. Additionally, we delve into PM Modi’s latest Mann Ki Baat address, retirement announcements from prominent cricketers, and a resolution to the TISS staffing crisis.
The allotment date for the Quest Laboratories Limited Initial Public Offering (IPO) is today, May 21. The IPO was priced at ₹ 93- ₹ 97 per share, with a face value of ₹ 10. The issue consists of lots of 1200 shares and in multiples thereof. Investors can check their allotment status on either the BSE platform or the IPO registrar’s website, Bigshare Services.
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will be closed today, May 20, due to Lok Sabha elections in Mumbai. All sections of the exchanges, including SLB, derivative, and equity, will be closed for the entire day. However, the Multi-Commodity Exchange (MCX) will operate from 5:00 PM to 11:30 PM/11:55 PM during the evening session, but will be closed for the morning session. Banks and some educational institutions in Belapur and Mumbai will also be closed on this day.
The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have announced a special live trading session on May 18 for equity and equity derivative segments. This session aims to test the preparedness of these markets in case of major disruptions at the primary site. The session will feature a switch from the primary site to the disaster recovery site and will include changes to trading hours, circuit limits, and price bands.
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will hold a special live trading session on May 18, 2024, to test their readiness and resilience in case of disruptions. The session will involve an intra-day switch from the primary site to the disaster recovery site across equity and equity derivative segments.
The purpose of this session is to assess the participants’ preparedness to handle significant disruptions or failures at the primary site. During the session, all securities, including those with derivative products, will have a maximum price band of 5%. The price band applicable at the primary site at the start of the day will also apply at the disaster recovery site.
The special live trading session will take place in two parts: from 9:15 AM to 10:00 AM and from 11:30 AM to 12:30 PM. The BSE has requested trading members to note this schedule and be prepared for the session.
Aadhar Housing Finance’s stock commenced trading on the National Stock Exchange (NSE) at its issue price of ₹315. Similarly, it opened at ₹314.30 on the Bombay Stock Exchange (BSE), representing a slight discount of 0.22%. The company’s initial public offering (IPO) was met with strong investor demand, resulting in an overall subscription of 26.76 times. Retail investors, non-institutional investors (NIIs), and qualified institutional buyers (QIBs) all showed significant interest in the IPO, with QIBs subscribing the highest at 76.42 times. The IPO comprised a fresh issue of 3.17 crore shares worth ₹1,000 crore and an offer for sale of 6.35 crore shares valued at ₹2,000 crore. The proceeds from the IPO will be utilized for future capital requirements and general corporate purposes.
The share allotment for TBO Tek IPO has been finalized, and investors can check their status on the registrar’s portal. The IPO received overwhelming response, with a subscription status of 86.70 times. Shares will be credited to demat accounts on May 14, and the listing is scheduled for May 15.
