Daily News Roundup: Modi’s Odisha Rallies, Ztech India IPO Launch, and More

Prime Minister Narendra Modi is set to hold election rallies in Odisha today. NSE has banned trading of five stocks in the F&O segment, including Biocon and Piramal Enterprises. Ztech India has launched its IPO, priced between 104 and 110 per share. Several major companies, such as Adani Transmission and Tata Steel, are reporting their Q4 earnings today. The NTA has rescheduled CUET UG 2024 exams for Kanpur, Delhi, and Silchar centers due to paper distribution issues.

India News Today: F&O Ban, Apple iPhone SE 4 Launch, Air Force Tejas Operational, Go First Resumes Operations

Indian markets witnessed significant developments today, May 27, 2024. Nine stocks, including Vodafone Idea and Bandhan Bank, were placed under the F&O ban list by the NSE for exceeding market-wide position limits. The Indian Air Force’s 18 Squadron, equipped with indigenous Tejas aircraft, became operational at Sulur. Apple’s iPhone SE 4 made its debut in India, while budget carrier Go First resumed flight operations after filing for bankruptcy. The highly anticipated IPO of Awfis Space Solutions is set to close today. Additionally, the results for major school board exams, including RBSE 10th and MSBSHSE 10th, are expected to be released.

NSE, BSE Closed Today Due to Mumbai Lok Sabha Elections

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.

BSE, NSE to Hold Special Trading Session Today: Key Changes to Note

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.

Stock Market Special Session on May 18: Readiness Test of NSE and BSE

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 IPO: Stock Lists at Issue Price on NSE and BSE

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.

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