These are facing a fine of Rs 16 lakh, payable jointly and severally, for violation of Prohibition of Fraudulent and Unfair Trade Practices norms.
This was the tranche-1 NCD issue of the housing finance company with a base issue size of Rs 200 crore and a greenshoe option of up to Rs 800 crore.
The ITC stock is now up 15 per cent this month, a feat thought near impossible for a stock that couldn’t get itself out of the tight trading range of Rs 200-220 for almost six months. The optimism is real as investors pin hope on strong volume recovery in the cigarette business in coming months aided by the reopening of the economy. ITC investors are firmly atop the momentum bull for now.
Barring the dollar-pegged stablecoins, top cryptocurrencies have declined as much as 40 per cent in just a couple of weeks. Ethereum has dropped the most, up to 39 per cent. It was followed by XRP and Solana, declining 36 per cent each.
Real estate shares were in demand after the Karnataka government slashed stamp duty. Metals and chemical stocks made a strong comeback. BLS International continued to decline after some fraudulent SMSes and messages, while RPSG Venture saw profit taking.
With the huge surplus of core liquidity –which takes into account liquidity in the banking system and government cash balances – making the reverse repo rate the effective policy rate for money markets, SBI Economic Research points out that when other costs are taken into account, banks are facing significant pressure on margins.
Metals, IT and defensive stocks were in great demand as well. The broader market was mixed, with smallcaps under selling pressure, amid weak global cues.
“Sentiments have turned positive, things are looking up and let’s all pray we do not have a third wave. I think we are in for a good time going ahead.â€
In the international market, gold was trading lower at $1,761 per ounce and silver was flat at $22.42 per ounce.
“I am not underplaying the importance of Evergrande in the Chinese financial market. It is the highest leveraged property company in the world, never mind China. But I do not think that the spread from that is going to affect the UK, France or the United States.â€
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