#Edelweiss Financial Services Ltd

[twowheelerinsuranceindia]

Top Ten Insurance Brokers in India: Protecting Your Tomorrow

In a rapidly changing world, insurance has become an essential part of our lives. Whether it's safeguarding your health, securing your assets, or ensuring your family's financial stability, insurance is the safety net that provides peace of mind. However, navigating the complex world of insurance can be a daunting task. This is where insurance brokers step in to simplify the process and help you make informed decisions. In this blog, we'll explore the top insurance brokers in India who have earned their reputation for excellence in the industry.

SMC Insurance Brokers

SMC Insurance Brokers stands as a prominent name in the Indian insurance industry, known for its unwavering commitment to delivering top-notch insurance solutions. With a track record of excellence, they have carved a niche for themselves and are recognized as one of the top insurance brokers in India.

What sets SMC Insurance Brokers apart is their comprehensive approach to insurance. They offer a wide spectrum of services, from risk assessment and coverage selection to claims management, all designed to cater to the diverse needs of their clients, whether they are individuals or businesses.

Visit Website: https://www.smcinsurance.com/

Marsh India Insurance Brokers Pvt. Ltd:

Marsh India, a subsidiary of Marsh & McLennan Companies, is a global leader in insurance broking and risk management. They provide a wide range of insurance and risk management solutions, including property and casualty, employee benefits, and more. With their vast experience, they have earned the trust of businesses and individuals alike.

Aon India:

Aon is another global giant in the insurance and risk management industry. Aon India offers a broad spectrum of services, from risk consulting to insurance broking. Their commitment to delivering innovative solutions and their extensive network of experts makes them a preferred choice for many clients.

Willis Towers Watson India:

Willis Towers Watson is known for its expertise in risk management and insurance brokerage. They offer specialized services in various sectors, including construction, energy, and aviation. Their commitment to understanding client needs and tailoring solutions accordingly is one of their standout features.

Bharti AXA Insurance Brokers:

Bharti AXA Insurance Brokers is a subsidiary of Bharti Enterprises and AXA, a global insurance leader. They offer a wide range of insurance products and services for both individuals and businesses. Their dedication to transparency and customer satisfaction has helped them build a strong reputation.

Edelweiss Insurance Brokers Limited:

Edelweiss Insurance Brokers is part of the Edelweiss Group, a diversified financial services conglomerate. They provide risk advisory and insurance broking services to a wide range of clients. Their strong focus on innovation and technology sets them apart in the industry.

Bajaj Capital Insurance Broking Limited:

Bajaj Capital is a well-known name in the Indian financial services sector. They offer a wide array of insurance products and services, ranging from life and health insurance to general insurance. Their vast network of offices and expert advisors make insurance accessible to people across the country.

IIFL Insurance Brokers:

IIFL Insurance Brokers, a subsidiary of IIFL Group, is a growing player in the insurance broking sector. They offer a range of insurance solutions for individuals and corporate clients. Their commitment to providing the best advice and ensuring a seamless experience for their customers is commendable.

Anand Rathi Insurance Brokers:

Anand Rathi is a well-established financial services group in India. Their insurance broking services cover various aspects, including risk assessment, policy selection, and claims management. Their in-depth knowledge of the insurance market ensures clients receive the most suitable policies.

Alankit Insurance Brokers Limited:

Alankit Insurance Brokers is part of the Alankit Group and provides a variety of insurance services. They have a reputation for delivering tailor-made insurance solutions to meet the specific needs of clients. 

Choosing the right insurance broker is a crucial step in securing your financial future. These top insurance brokers in India have consistently demonstrated their dedication to helping clients make informed decisions and find the best insurance solutions for their needs. Whether you are an individual seeking life or health insurance, or a business looking to protect its assets, these reputable insurance brokers can guide you through the complex world of insurance, ensuring you make choices that safeguard your tomorrow.

Here you can find our reference post: https://insurancecompanyinindia.blogspot.com/2023/10/top-ten-insurance-brokers-in-india.html

[bhattandjoshiassociates-blog]

Unaware about initiation of CIRP against Corporate Debtor is not a ground to file claims at a belated stage case regarding – NCLT New Delhi Bench Court-V

A case analysis of  Toyota Financial Services India Ltd. Vs. Mr. Suresh Kumar Jain (Erstwhile RP) & Ors., decided by the National Company Law Tribunal (NCLT) on 10.09.2023. Introduction This case Toyota Financial Services India deals with the issue of whether a financial creditor can file its claim before the resolution professional (RP) after the approval of the resolution plan by the committee of creditors (CoC) and the NCLT on the ground that it was unaware of the initiation of the corporate insolvency resolution process (CIRP) against the corporate debtor. The NCLT held that such a claim cannot be entertained as it was filed at a belated stage and that the financial creditor failed to show due diligence in submitting its claim. Facts The appellant, Toyota Financial Services India Ltd., was a financial creditor of the corporate debtor, M/s. Shree Balaji Printopack Pvt. Ltd., which was engaged in the business of manufacturing and supplying corrugated boxes and cartons. The appellant had provided a loan facility to the corporate debtor for purchasing machinery and equipment. The corporate debtor had defaulted on its repayment obligations and the appellant had initiated recovery proceedings against it before the Debt Recovery Tribunal (DRT). Meanwhile, another financial creditor of the corporate debtor, M/s. Edelweiss Asset Reconstruction Company Ltd., had filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) before the NCLT for initiating CIRP against the corporate debtor. The NCLT had admitted the application and appointed an interim resolution professional (IRP) on 27.01.2020. The IRP had made a public announcement inviting claims from all creditors of the corporate debtor on 31.01.2020. The appellant did not submit its claim before the IRP within the stipulated time period. The IRP was later confirmed as the RP by the CoC, which was constituted on 14.02.2020. The RP had prepared an information memorandum containing all relevant information about the corporate debtor and invited resolution plans from prospective resolution applicants. The CoC had approved a resolution plan submitted by M/s. Shree Balaji Packaging Industries on 27.11.2020 with 100% voting share. The NCLT had also approved the resolution plan on 18.12.2020 and passed an order for its implementation. The appellant had filed its claim before the RP on 22.12.2020, claiming an amount of Rs. 1,77,64,524 along with interest as its financial debt. The appellant had also filed an application before the NCLT under Section 60(5) of the IBC, seeking directions to the RP to accept its claim and to modify the resolution plan accordingly. The appellant had contended that it was unaware of the initiation of CIRP against the corporate debtor as it did not receive any notice or communication from the IRP or the RP despite being a secured creditor. The appellant had also contended that it came to know about the CIRP only after receiving a copy of the order passed by the NCLT on 18.12.2020 approving the resolution plan. The appellant had further contended that it had a valid charge over the assets of the corporate debtor and that its claim was not barred by limitation as it had filed a suit for recovery before the DRT within three years from the date of default. The RP had opposed the application and submitted that the appellant’s claim was filed at a belated stage after the approval of the resolution plan by both CoC and NCLT and that it could not be entertained as per Section 31(1) of IBC which provides that once a resolution plan is approved by NCLT, it shall be binding on all stakeholders involved in CIRP. The RP had also submitted that the appellant’s claim was barred by limitation as per Section 18(1)(b) of Limitation Act, 1963 which provides that filing a suit for recovery does not extend limitation period for filing an application under IBC. The RP had further submitted that the appellant was not diligent in submitting its claim as it did not respond to the public announcement made by IRP or check the website of IBBI or NCLT where all details of CIRP were available. Issue with initiation of CIRP The main issue before NCLT was whether the appellant’s claim could be accepted by RP at a belated stage after approval of resolution plan by CoC and NCLT on the ground that it was unaware of initiation of CIRP against corporate debtor. Legal Provisions of CIRP The relevant legal provisions for this issue are: - Section 7 of IBC, which provides for initiation of CIRP by a financial creditor against a corporate debtor who has defaulted on its debt. - Section 13 of IBC, which provides for public announcement of CIRP by IRP inviting claims from all creditors of corporate debtor. - Section 15 of IBC, which provides for constitution of CoC comprising all financial creditors of corporate debtor. - Section 29 of IBC, which provides for preparation of information memorandum by RP containing all relevant information about corporate debtor for formulating a resolution plan. - Section 30 of IBC, which provides for submission and approval of resolution plan by RP and CoC respectively. - Section 31 of IBC, which provides for approval and implementation of resolution plan by NCLT and its binding effect on all stakeholders involved in CIRP. - Section 60(5) of IBC, which provides for jurisdiction of NCLT to entertain any application or proceeding by or against corporate debtor or corporate person or resolution professional or liquidator as the case may be. - Section 18(1)(b) of Limitation Act, 1963, which provides that filing a suit for recovery does not extend limitation period for filing an application under IBC. Analysis The NCLT analysed the case law on this issue and observed that: - The Supreme Court in Committee of Creditors of Essar Steel India Limited Vs. Satish Kumar Gupta & Ors. held that once a resolution plan is approved by NCLT, it shall be binding on all stakeholders involved in CIRP and that no claims can be entertained after such approval. - The Supreme Court in Babulal Vardharji Gurjar Vs. Veer Gurjar Aluminium Industries Pvt. Ltd. held that the limitation period for filing an application under IBC is three years from the date of default and that filing a suit for recovery does not extend such period. - The NCLAT in Binani Industries Limited Vs. Bank of Baroda & Anr. held that the purpose of making public announcement is to make all the interested parties/stakeholders aware of the initiation of CIRP of the corporate debtor so as to enable them to submit their claim and facilitate in preparing the information memorandum which is issued subsequently, after the collection and collation of claims of the operational and financial creditors so as to provide the resolution applicant all relevant information so that the resolution applicant can make a legally and financially sound resolution plan for the corporate debtor as is required under Section 29 of IBC. Based on these precedents, the NCLT held that the appellant’s claim could not be accepted by RP at a belated stage after approval of resolution plan by CoC and NCLT on the ground that it was unaware of initiation of CIRP against corporate debtor. The NCLT further held that: - The appellant’s claim was barred by limitation as per Section 18(1)(b) of Limitation Act, 1963 as it had filed its application under IBC more than three years after the date of default and that filing a suit for recovery before DRT did not extend such period. - The appellant failed to show due diligence in submitting its claim before RP as it did not respond to the public announcement made by IRP or check the website of IBBI or NCLT where all details of CIRP were available. - The appellant could not rely on the ground that it did not receive any notice or communication from IRP or RP despite being a secured creditor as it was not mandatory for IRP or RP to issue individual notice to each creditor and that public announcement was sufficient to inform all creditors about CIRP. Conclusion of CIRP against corporate debtor. The NCLT concluded that there was no merit in the application filed by appellant and that RP had rightly rejected its claim as it was filed at a belated stage. The NCLT also imposed a cost of Rs. 10,000 on the appellant for filing a frivolous application. You can read more about this case here 1. Learn more: - indialawoffices.com - taxguru.in - cleartax.in - ibclaw.in - ibclaw.in - taxguru.in - sign Read the full article

[hmatrading]

Are you interested in investing in the stock market but don't know where to begin? With so many advisory companies claiming to be the best, it can be overwhelming to choose one. That's why we've compiled a list of the top 10 stock advisory companies in India for you! But before we dive into that, let's start with the basics – how to invest in the share market and how fundamental analysis plays a crucial role in selecting stocks. And if you're curious about specific stocks like Radico Khaitan, Equitas, Supreme Industries or Happy Minds, stick around as we'll cover those too! Get ready to take your first step towards becoming a successful investor.

List of top 10 stock advisory company in India

Motilal Oswal Financial Services Ltd.

Angel Broking Ltd.

HDFC Securities Ltd.

Sharekhan

ICICI Direct

Zerodha

Kotak Securities

Edelweiss Broking Limited

Axis Securities

Bonanza Portfolio Limited

India has a plethora of stock advisory companies, and choosing the right one can be overwhelming. To help you make an informed decision, we've compiled a list of the top 10 stock advisory companies in India.

First on our list is Motilal Oswal Financial Services Ltd., which offers research reports, personalized portfolio advice, and more. Secondly, there's Angel Broking Ltd., which boasts over 30 years of experience in providing investment services to its customers.

Next up is HDFC Securities Ltd., which provides a wide range of investment options with low brokerage fees. Fourthly, we have Sharekhan by BNP Paribas that offers expert market insights along with customized financial solutions for clients' portfolios.

Fifth on our list is ICICI Direct that enables users to invest in multiple asset classes like equity shares, mutual funds and even fixed deposits from the same account. Sixthly comes Zerodha – known for their innovative trading platforms & low-cost brokerage fees.

Seventh is Kotak Securities that provides one-stop-shop solutions for all your investments needs under one roof followed by Edelweiss Broking Limited at eighth position offering full spectrum broking services across Equities and Derivatives markets as well as Mutual Funds etc..

Ninth on our list is Axis Securities - renowned for their research expertise & cutting-edge technology whereas Bonanza Portfolio Limited rounds off our top ten lists by providing customised financial plans tailored to each customer's unique goals & preferences.

How to invest in share market

Investing in the share market can seem intimidating, especially for beginners. However, with proper research and understanding of the market, investing in stocks can prove to be a fruitful venture.

The first step to investing in the share market is opening a demat account with a registered stockbroker. A demat account will hold all your securities electronically, making it easier to trade.

Once you have opened your demat account, you should start researching companies that interest you. You can use fundamental analysis methods such as analyzing financial statements or technical analysis such as studying charts and trends.

It's also important to diversify your portfolio by investing in different sectors and industries rather than putting all your money into one company or sector. This helps mitigate risk and protects your investments from fluctuations in specific markets.

It's essential to stay updated on news related to the stock market and any events that may affect the companies you invest in. Keeping an eye on changes in regulations or economic conditions can help inform investment decisions.

In summary, investing in shares requires research into companies through fundamental or technical analysis methods while also ensuring diversity within portfolios and staying informed about relevant news affecting markets.

Fundamental analysis of stocks

Fundamental analysis is a method of evaluating stocks based on the financial and economic conditions of a company. This approach involves analyzing various factors such as revenue, earnings, assets, liabilities, management quality, competition and industry trends to determine whether a stock is overvalued or undervalued.

One key aspect of fundamental analysis is examining the financial statements of a company. By reviewing income statements, balance sheets and cash flow statements, investors can gain insights into how well a company is performing financially. Additionally, by comparing these financials with other companies in the same sector or industry, investors can identify potential investment opportunities.

Another important factor in fundamental analysis is considering the competitive landscape of an industry. Examining market share data and growth prospects for different companies within an industry can help investors evaluate which firms are likely to outperform their peers over time.

Management quality also plays a significant role in determining the long-term success of a company. Investors should look at factors such as executive compensation plans and track records when assessing management teams.

Conducting thorough fundamental analysis before investing in stocks can lead to better-informed investment decisions that may offer higher returns over time. It's essential to evaluate all aspects related to finance and economics while making any decision regarding stock investments rather than just following popular opinion or rumors circulating about specific shares' price movements.

Read more - https://hmatrading.in/free-stock-advisory/

[tractorjunction3022]

Top companies that sell tractor insurance 2023

Tractors are the most supporting pillars of the farming industry. Without tractors farmers won’t be able to farm much efficiently. As these farmers not only use their tractors in the field for farming but also they take it out on the road to go to market with their production crops. 

So to the continuous use of their tractor in the farming business, it becomes very important to have their tractors insured. This would make them a step out in any kind of mishappening by or to their tractors. Either its accident, theft, or any kind of issue which could damage your tractor. 

But, buying insurance for tractors has always been a big question for farmers. There’s a lot of companies which provide insurance for your tractor but where to find them and how to understand which one will be the right choice for you. 

So, here we are with the companies that could be your choice for your step back from getting into any issue caused with your tractor. We know how much your tractor means to you for your business. Let’s see the companies that provide the right policy for matching your needs. 

List of companies that sells tractors insurance

Magma HDI general insurance Co. Ltd

Tata AIG general insurance Co. Ltd

ICICI Lombard general insurance Ltd

IFFCO-TOKIO

Chola MS - General Insurance

Bajaj Allianz - General Insurance

Digit commercial vehicle insurance

Edelweiss commercial vehicle insurance

Future Generali 

Reliance general insurance

Acko Insurance

SBI general insurance

United India commercial vehicle insurance

MAGMA HDI 

NAVI general insurance

These are the companies that could save you from any kind of situation that could you financial loss for your Tractor. Therefore, you should also make sure that you check the policies and services of each company before making a decision of buying your tractor insurance. If you want know more about tractor insurance or tractor loan you can visit tractor junction. 

[elitewealth2020]

Edelweiss Financial Services Limited is coming out with a debt offering of Secured Redeemable Non-Convertible Debentures with the face value of ₹ 1000 each, a Base Issue size of ₹ 200 Crore, and an option to retain oversubscription up to ₹ 200 Crore aggregating up to ₹ 400 crores, being the Tranche-I Issue size. The issue opens for subscription on Tuesday, 3rd January 2023, and will close on or before Monday, 23rd January 2023. The allotment is on a first come first serve basis with the minimum application to be made is of 10 NCDs. All you need to do is set a reminder on Bonds India website and place your bid as we send you a reminder when it goes live. https://elitewealth.in/edelweiss-financial-services-ltd-ncd/

[blueweave]

India #car_insurance market is growing at a high #CAGR because of the increasing #private_car ownership along with the growing popularity of #cab_services in the country. The #growth of the market is also driven by favorable government policies requiring #vehicle_insurance for vehicles running in public places…. For more info please visit:https://bit.ly/30SsBkq

The leading players are Bajaj Allianz General Insurance Bike/Car, Chola MS Car Insurance, Bharti AXA GI - Car Insurance, @Digit Car Insurance, Edelweiss Financial Services Limited, Future Generali India Insurance Company Limited, Kotak Mahindra General Insurance Co. Ltd., Liberty Mutual Insurance, Reliance Car Insurance , SBI Car Insurance, Tata AIG General Insurance Company Limited, and other prominent players. #BlueWeave #consulting #marketreserch #marketforcast #BFSI #insurance

[techminsolutions]

Macleods Pharmaceuticals picks banks for $1-billion offering

Macleods Pharmaceuticals picks banks for $1-billion offering

Indian drugmaker Macleods Pharmaceuticals Ltd. has selected banks including Edelweiss Financial Services Ltd. and ICICI Securities Ltd. to manage its Mumbai initial public offering, according to people familiar with the matter. The 35-year-old company has also picked JPMorgan Chase & Co. for the listing, the people said. More bankers could be added later, they said, asking not to be named as the…

[classyfoxdestiny]

Business news live - The Hindu

Business news live - The Hindu

2:18 P.M.

Cairn accepts $1bn refund offer, to drop cases against India within days: CEO

U.K.-based Cairn Energy PLC on Tuesday said it will drop litigations to seize Indian properties in countries ranging from France to the U.S., within a couple of days of getting a $1 billion refund resulting from the scrapping of a retrospective tax law.

The firm, which gave India its biggest onland oil discovery, termed “bold” the legislation passed last month to cancel a 2012 policy that gave the tax department power to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, PTI reported.

1:51 P.M.

Voda-Idea flags industry’s unsustainable financial duress

Ailing telecom operator Vodafone Idea has flagged the industry’s “unsustainable financial duress” in its latest annual report and hoped that the government would provide the necessary support to address “all structural issues” faced by the sector.

In the Chairman’s letter to shareholders, Himanshu Kapania cited persistent challenges in the operating environment, amid “unsustainable pricing” and “hyper-competition” during FY21. Kapania expressed hope that government will support efforts to generate reasonable returns on massive investments, according to a PTI report.

1:49 P.M.

Britannia says pandemic prompted shifts in consumer preferences

Retail giant Britannia Industries said the pandemic has brought significant shifts in consumer preferences and behaviours, including the growth of online business channels, which are likely to strengthen and present new opportunities for food business in future, PTI reported.

The company is well placed to sustain growth and is confident of addressing the evolving situation with its wide distribution network, intrinsic brand strengths, innovation and technology capabilities and cost efficiency programmes.

1:42 P.M

JSW Steel output grows nearly 5% to 13.77 LT in August

JSW Steel on Tuesday posted nearly 5% year-on-year growth in its crude steel output at 13.77 lakh tonne (LT) during August 2021, as against 13.17 LT steel in the corresponding month last year, PTI reported.

During August 2021, the company said production of its flat-rolled products fell by 8% to 8.99 LT, from 9.80 LT in August 2020. Its output of long-rolled products registered a growth of 30% at 3.01 LT, as against 2.32 LT in the year ago period.

1:28 P.M

Bank of India ties-up with MAS Financial Services for co-lending

State-owned Bank of India (BOI) has entered into a co-lending arrangement with MAS Financial Services for MSME loans, PTI reported. The tie-up comes on the occasion of the bank’s 116th Foundation Day.

The bank will leverage the reach of NBFC to build an MSME portfolio, MD & CEO Atanu Kumar Das said.

1:03 P.M.

OPEC+ keen to keep oil prices at $65-$75 a barrel, Lukoil chief says

The head of Russia’s No. 2 oil producer Lukoil said that oil prices of $65-$75 were “comfortable” for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by regulating output, according to a Reuters report.

Vagit Alekperov said curbs on oil output would depend on market conditions.

“For now, September 2022 will mark a milestone when the restrictions should phase out. The company has up to 90,000 barrels a day of idle production, which we hope will be needed by the market.”

12:52 P.M.

Toyota to spend over $13.5 bln to develop EV batteries and supply systems by 2030

Toyota Motor Corp said on Tuesday it expects to spend more than $13.5 billion by 2030 to develop batteries and its battery supply system.

The world’s largest automaker by volume uses a range of battery types in its vehicles and is also considered the front runner to mass produce solid-state batteries, a Reuters report noted. If developed successfully, they could replace liquid lithium-ion batteries.

12:29 P.M.

IPO fund outperforms India benchmarks in bumper year of listings

An Indian fund that invests only in recently listed stocks has outperformed the nation’s benchmark indexes in 2021 despite skipping a majority of the initial public offerings in what’s shaping up to be a record year, Bloomberg reported.

The fund run by Edelweiss Management Ltd. has returned 46% this year, according to the firm, beating gains of 24% for the NSE Nifty 50 Index and 22% by the S&P BSE Sensex Index, which still lead the Asia region among country benchmarks, the report noted.

12:14 P.M.

BlackRock’s China investments likely to lose money, Soros says

Billionaire investor George Soros said BlackRock Inc investing billions of dollars into China now is a “mistake” and will likely lose money for the asset manager’s clients, according to an opinion piece in the Wall Street Journal.

Soros said  BlackRock has drawn a distinction between the country’s state-owned enterprises and privately owned companies that is far from reality, as per the opinion piece.

Last month, BlackRock became the first foreign asset manager to operate a wholly owned mutual fund business in China tapping the fast-growing $3.6 trillion retail fund market, a Reuters report noted.

12:01 P.M.

Hyundai to offer hydrogen fuel cell versions of all commercial vehicles by 2028

Hyundai Motor Group said on Tuesday it plans to offer hydrogen fuel cell versions for all its commercial vehicles by 2028 and will cut the price of fuel cell vehicles to battery electric levels two years later.

The group, whose only other fuel cell vehicle on the market is Hyundai’s Nexo SUV, will develop fuel cell vehicles for Kia and its premium Genesis brand, which could be launched after 2025, according to a Reuters report. It did not mention specific targets for fuel cell versions of passenger vehicle models.

11:52 A.M.

JSPL steel output grows 6% in August; sales up 4%

Steelmaker Jindal Steel and Power Limited (JSPL) on Tuesday said its steel production increased 6% year-on-year to 6.6 lakh tonne in August. Its sales volume also increased by 4% y-o-y to 7.1 lakh tonne during the month.

Notwithstanding subdued construction activities due to the ongoing monsoons in August, the company has maintained strong momentum in sales and production, a PTI report noted.

11:46 A.M.

Flipkart founder files to launch vehicle to invest in Vanguard ETF

Navi Mutual Fund, the fund unit acquired by Sachin Bansal, co-founder of Flipkart, is set to make a Vanguard strategy available in the country through a new fund-of-funds scheme, the Financial Times reported.

The Indian fund group, which was previously branded as Essel Mutual Fund, is currently seeking the regulator’s approval to roll out six funds, one of which is the Navi Total US Stock Market Fund of Fund that feeds into Vanguard’s US-listed Total Stock Market Index Fund exchange traded fund, according to the report.

11:35 A.M.

Healthium Medtech files draft papers with Sebi to raise funds via IPO

Healthium Medtech has filed preliminary papers with capital markets regulator Sebi to mop-up funds through an initial share-sale, PTI reported.

The initial public offering (IPO) comprises fresh issuance of equity shares worth ₹390 crore and an offer-for-sale of 3.91 crore equity shares by existing shareholders and promoters, according to the draft red herring prospectus.

11:25 A.M.

Bitcoin becomes legal tender in El Salvador

El Salvador on Tuesday became the first country in the world to adopt bitcoin as legal tender, a real-world experiment proponents say will lower commission costs for billions of dollars sent home from abroad but which critics warned may fuel money laundering, Reuters reported.

The plan spearheaded by the country’s President Nayib Bukele is aimed at allowing Salvadorans to save on $400 million spent annually in commissions for remittances, mostly sent from the United States, the report noted.

11:12 A.M.

L&T Construction bags order for water effluent treatment business

Larsen &Toubro (L&T) on Tuesday said its construction arm has bagged a significant order for its water and effluent treatment business in India.

It has won an order from a state-utility organisation to implement rural water supply projects, providing functional house tap connections under the Jal Jeevan Mission, according to a PTI report.

The business was entrusted to implement rural water supply projects to provide potable water to 800 villages.

11:01 A.M.

Copper falls as China’s August imports hit over 2-year low

London copper prices fell on Tuesday as August imports of the metal in top consumer China fell to their lowest since June 2019, as high prices and sluggish economic growth hit demand, Reuters reported.

China’s copper imports declined 41% year-on-year in August, falling for the fifth straight month to 394,017 tonnes, customs data showed.

Three-month copper on the London Metal Exchange fell 0.3% to $9,421 a tonne, while the most-traded October copper contract on the Shanghai Futures Exchange eased 0.1% to 69,310 yuan ($10,738.41) a tonne.

10:48 A.M.

Global crypto exchange CrossTower enters India despite policy uncertainty

U.S.-headquartered digital currency exchange CrossTower has set up a local unit in India and launched a trading platform to capture the growing domestic crypto market even though the fate of cryptocurrency in India is still unclear, Reuters reported.

CrossTower India has already hired 35 people and plans to increase headcount to 100 in six to nine months, the company said.

As a late entrant to India, the company plans to increase its market share by providing competitive pricing and relying on advanced technology infrastructure, CrossTower co-founder and CEO Kapil Rathi said.

10:36 A.M.

Rupee slips 7 paise to 73.17 against U.S. dollar in early trade

The Indian rupee slipped 7 paise to 73.17 against the U.S. dollar in opening trade on Tuesday, tracking a strong American currency in the overseas market and muted trend in domestic equities, PTI reported.

At the interbank foreign exchange, the rupee opened at 73.12 against the dollar, then fell to 73.17, registering a decline of 7 paise from the last close.

10:24 A.M.

Passenger vehicle retail sales increase 39% in August: FADA

Automobile dealers’ body Federation of Automobile Dealers Associations (FADA) on Tuesday said retail sales of passenger vehicles (PV) in August increased by 39% year-on-year to 2,53,363 units, as against 1,82,651 units in August 2020.

Two-wheeler sales rose 7% to 9,76,051 units last month, compared to 9,15,126 units in the year-ago period. Commercial vehicle sales surged 98% to 53,150 units last month against 26,851 units in August last year.

The total sales across categories increased by 14% to 13,84,711 units in August as against 12,09,550 units in the same month last year, according to a PTI report.

10:15 A.M.

Edelweiss Financial Services raises ₹400 crore through NCDs

Edelweiss Financial Services Ltd (EFSL) Monday said it has raised ₹400 crore through issuance of non-convertible debentures (NCDs).

The company said the issue has seen significant demand in the retail segment with a total collection of ₹279.106 crore. Almost 50% of the total issue size got subscribed for five-year and 10-year tenure, according to a PTI report.

10:07 A.M.

Council to mull capacity-based GST on sectors seeing evasion

The Goods and Services Tax (GST) Council is likely to consider a ministerial group’s report on introducing a differentiated regime for sectors where tax evasion is very high, such as brick kilns, sand mining, and gutkha and pan masala production, even as tax experts have urged caution about such carve-outs.

9:53 A.M.

Murugappa’s turnover rises 9.5% ₹41,713 crore

The turnover of the Murugappa Group has risen 9.5% to ₹41,713 crore for FY21 while net profit surged by almost 53% to ₹4,500 crore.

Profit after tax, excluding profit from stake sale in group companies, grew by 26% to ₹3,713 crore.

9:42 A.M.

NMDC slashes iron ore by ₹1,000 a tonne

Mining major NMDC has reduced prices of iron ore Lump and Fines by ₹1,000 a tonne respectively.

Effective September 4, the new prices are ₹6,150 per tonne for Lump Ore and ₹5,160 for the same quantity of Fines, the company said in a filing.

9:34 A.M.

Indian benchmark indices open higher

Indian indices opened higher on Tuesday. BSE Sensex opened at 58,418.69, up 121.78 points, while Nifty opened at 17,401.55, up 23.75 points.

In Tuesday’s early trade (at 9:32 A.M.), Sensex fell 114.1 points or 0.20% to reach 58,182.81, while Nifty dropped 27.30 points or 0.16% to reach 17,350.50.

On Monday, the BSE Sensex settled 166.96 points or 0.29% higher at 58,296.91, while NSE Nifty climbed 54.20 points or 0.31% to its new closing record of 17,377.80.

9:11 A.M.

Oil wobbles as demand woes stalk market after Saudi price cuts

Oil prices were wobbly on Monday as investors grappled with demand concerns after Saudi Arabia’s sharp cuts to crude contract prices for Asia, Reuters reported.

Brent crude futures for November rose 0.1%, to $72.26 a barrel, while U.S. West Texas Intermediate crude for October was at $68.88 a barrel, down 0.6%, from Friday’s close.

9:00 A.M.

World shares at record high as investors count on Fed largesse

Global stocks inched higher on Tuesday to a record high for the eight straight session as investors wagered the U.S. Federal Reserve is likely to delay the start of tapering its asset purchases after the soft U.S. jobs data, Reuters reported.

Japanese shares extended their bull run. Tokyo’s Nikkei rallied as much as 1.3%, moving past 30,000 for the first time since April. Mainland Chinese shares were little changed in early trade while MSCI’s ex-Japan Asian-Pacific index was down 0.1%. U.S. S&P 500 futures were 0.1% higher from Friday’s close after the U.S. holiday on Monday.

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sensex today: Stock Market LIVE Updates: Retail investors make beeline for Zomato IPO. IT stocks in high demand. Profit booking in realty stocks. Mindtree jumps 8%. Wipro 4%

Domestic stock benchmarks started Wednesday’s session on a flat note amid selling pressure in private bank stocks. Tech Mahindra was the top Nifty50 early deal winner, up 0.70 percent. L&T, Adani Ports, Wipro, and HCL Tech were among the other blue-chip top performers. On the other hand, ICICI Bank was the biggest straggler, down 0.65 percent. Other losers include UltraTech Cement, HDFC Bank, Axis Bank and Eicher Motor. Just Dial gained 4 percent while Quess Corp lost 3 percent in early trading.

!1 new updateClick here for the latest updates

WPI inflation falls to 12.07 percent in June; Food, crude oil prices are softening

IT stocks are leading the rally. Here are the top winners

Price as of 07/14/2021 12:17 pm, Click on company names to see their live prices.

Stock screener

Search, select and invest in top stocks

Mindtree shares 52-week high after Q1 earnings

Mindtree stocks rose over 9 percent on Wednesday after the IT company posted consolidated net income up 61.2 percent for the June quarter and expressed confidence in double-digit revenue growth in FY22.

Zomato IPO retail quota fully subscribed

Tata Metaliks stock is up over 8% over June quarter earnings

Tata Metaliks Ltd shares rose over 8 percent on Wednesday after the company reported net income of Rs 94.72 billion for the quarter ended June 30, 2021. After getting off to a firm start, the stock rose 8.06 percent to 1,299 rupees for the BSE.

Candle screener

Discover and examine trading opportunities

Zomato IPO so far subscribed 16% on the first day

The rupee drops 12 paises in early trading to reach 74.61 against the US dollar

The Indian rupee lost 12 paises to 74.61 against the US dollar in opening trading on Wednesday as the strong US currency and weak domestic stocks weighed on investor sentiment.

Info Edge adds 1% to Zomato’s IPO

Info Edge’s shares rose over 1 percent in trading Wednesday as Zomato launched its initial public offering of Rs 9,375 billion. The Zomato issue includes an offer to sell from Info Edge, India, valued at Rs 375 crore, which owns 18.55 percent of the online grocery delivery and restaurant discovery platform.

NMDC shares up 2% after co-board approves the demerger of NMDC Steel

The state-run NMDC said Tuesday that its board of directors had approved the demerger of NMDC Steel Limited. In a BSE filing, NMDC said that NMDC Steel is its wholly owned subsidiary, which is not currently doing business.

We continue to believe that any significant correction in the market should be used as an opportunity to get into quality stocks

– Binod Modi, Head – Strategy, Trust Title

Bank stocks trade lower

Price as of 07/14/2021 10:05 a.m., Click on company names to see their live prices.

Nifty appears to be consolidating in the 15,600–15,900 range: analysts

Top winners and losers in the broader market

Happiest Minds, Just Dial, Vakrangee, Mindtree, Mphasis and Coforge were winners in the field, while Quess Corps, Shilpa Medicare, Edelweiss Financials, Max Financial, Oberoi Realty and Bank of India were under selling pressure.

There may be a sharp correction or the bull may keep running. Whatever the result, security lies in high-quality largecaps that now only move slowly, rather than smallcaps that fly away. There is a bubble in small caps that will end badly for new retail investors chasing those small caps. Investors can book some gains and invest the money in fixed income securities and continue to invest in high quality largecaps in the IT, metals, pharmaceuticals, cement and FMCG sectors

– Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

Q3 result today:

Infosys, L&T Technologies, Hastun Agro Products, Craftsman Automation, Dodla Dairy and Tinplate Company of India are among the companies that will announce their quarterly results today.

Reliance Securities intraday selection:

Buy Aarti Industries: For today’s trading, a long position in the range of Rs 850-855 can be opened at a price target of Rs 876 with a strict stop loss at Rs 842. Buy City Union Bank: For today’s trade a long position can be initiated in the range of Rs 161-163 for a target of Rs 168 with a strict stop loss at Rs 159. Sell ​​Godrej Consumer Products: For today’s trading, a short position can be initiated in the range of Rs 950-958 for a target of Rs 925 with a strict stop loss at Rs 964.

Traders post profits in real estate stocks; Nifty Realty index down 0.4%

Top winners and losers in the Sensex pack

Opening Bell: Sensex loses 50 points, Nifty under 15,800; Just Dial jumps 4%, Quess Corp tanks 3%

Pre-open session: Sensex up 20 points, Nifty below 15,800

Q1 results today

Mindtree, Tata Metaliks, Shree Ganesh Remedies, Deccan HealthCare, WS Industries (India) and Gagan Gases are among the companies that will announce their quarterly results today.

Zomato’s initial public offering of Rs 9.375 billion opens today

The highly anticipated Zomato IPO opens for subscription today. The online grocery and restaurant platform raised Rs 4.197 billion from 186 anchor investors on Tuesday ahead of its initial public offering. The company told the exchanges that it had allotted Rs 55.22 billion of shares for Rs 76 per share to anchor investors.

SGX Nifty signals a negative start

Nifty Futures on the Singapore Exchange traded 53.5 points, or 0.34 percent, lower at 15,781, suggesting Dalal Street was off to a negative start on Wednesday.

Tech View: Nifty50 resistance at 15,900 at

Nifty50 had a positive session on Tuesday as it easily broke its immediate resistance at 15,750. The index formed a small bullish candle with a long wick on the daily scale, indicating that every intraday sale was bought. Analysts said the 15,900-15,915 zone would be a major hurdle and the 15,650-632 range would act as immediate support for the future.

Tokyo stocks open lower US falls

Tokyo stocks opened lower on Wall Street on Wednesday after falling as investors weighed how a rise in US inflation data would affect monetary policy. The benchmark index Nikkei 225 lost 0.74 percent or 211.64 points to 28,506.60 in early trading, while the broader Topix index fell 0.54 percent or 10.63 points to 1,957.01.

US CPI inflation climbs to 5.4% in June

The US Department of Labor report showed that the consumer price index rose 5.4 percent (non-seasonally adjusted) in the 12 months ended June, its highest level since August 2008. Even though leading Fed officials say the big price increases are temporary Persistently high inflation could lead policymakers to distance themselves from the massive economic policies that markets have loved since the beginning of the Covid-19 pandemic.

US stocks have leveled off

Major US stock indices closed lower Tuesday after government data showed inflation continued to rise in June. All three major indices had finished on Monday with records, but by the close of trading on Tuesday the Dow Jones Industrial Average benchmark was 0.3 percent lower at 34,888.79. The broad-based S&P 500 lost 0.4 percent to finish at 4,369.21, while the tech-rich Nasdaq Composite Index fell 0.4 percent to 14,677.65.

The rupee will rise on day 3 and close at 74.49 if the stocks rise

The rupee gained 9 paise to close at 74.49 against the US dollar on Tuesday, marking the third straight day of gains from foreign fund inflows and positive domestic stocks. On the interbank foreign exchange market, the local unit opened higher at 74.49 versus the greenback and experienced an intraday high of 74.41 and a low of 74.50 during the session.

Sensex, Nifty on Tuesday

At the closing bell, the BSE Sensex was 397.04 points, or 0.76 percent, higher at 52,769.73 – breaking its three-session loss margin. This was also the benchmark’s best daily gain since May 31st. Likewise, the broader NSE Nifty rose 119.75 points, or 0.76 percent, to settle at 15,812.35.

Good morning, dear reader! Here is something to start your day of trading

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Corporate affairs ministry investigating irregularities in Edelweiss’ ARC arm

Corporate affairs ministry investigating irregularities in Edelweiss’ ARC arm

Edelweiss Financial Services Ltd. said it hasn’t received any intimation that Indian regulators have ordered a probe of its asset reconstruction unit for irregularities, after its shares plunged by the daily limit in Mumbai. Moneycontrol had earlier reported on the alleged investigation, and people with direct knowledge of the matter told Bloomberg News that the corporate affairs ministry has…

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Goldman, Cerberus, Edelweiss offer rare Indian scrap bonds 21%

Goldman, Cerberus, Edelweiss offer rare Indian scrap bonds 21%

Goldman Sachs Group Inc., Cerbus Capital Management and Edelweiss Financial Services Ltd. bought in junk-rated rupee bond sales, a rare issue yielding as much as 21%. The companies released Rs 1,600 crore from Kesoram Industries Ltd. through various vehicles as per exchange filings on Tuesday. The Indian cement manufacturer defaulted in its debt last year and is restructuring repayments. The…

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Jeweller Joyalukkas said to plan $400 million IPO next year: Report

Jeweller Joyalukkas said to plan $400 million IPO next year: Report

Gold jeweller Joyalukkas India Ltd. is considering an initial public offering in India that could raise about $400 million in the first quarter of next year, according to a person familiar with the matter. The Kerala-based company has picked Edelweiss Financial Services Ltd., Jefferies Group LLC, Credit Suisse Group AG and IIFL Securities Ltd. to arrange the potential share sale, said the…