Dalal street

The initial public offering (IPO) of Central Depository Services (India) Ltd (CDSL) received overwhelming response from every category of investors, with the quota for retail investors getting subscribed nearly 24 times, the qualified institutional buyer (QIB) portion 148.71 times and the non-institutional investor segment 563.03 times. Overall, the issue witnessed 170 times oversubscription, making it the most subscribed maiden issue in over a decade on Dalal Street. This also made the IPO the fourth largest offering ever in terms of oversubscription. Market watchers say the overwhelming subscription has markedly reduced the chances of retail investors getting share allotment even if one has bid for the entire Rs 2 lakh quota limit. But don’t worry, you are not getting tricked. In an IPO, share allotment is made as per the Sebi norms. As per Sebi’s share allotment rules, the minimum bid lot is defined based on the minimum application amount, which cannot exceed or fall … [Read more...] about CDSL IPO mega hit, but you may not get share allotment

The domestic equity market witnessed a secular bearish session on Tuesday, as Nifty spent the day in a falling trajectory, showing no sign of trend reversal after forming an indecisive ‘Doji’ on Monday. Before closing the session at 11,856, down 80.70 points, or 0.68 per cent, Nifty shuttled between a high and low of 11,953 and 11,844, respectively. The 50-share index ended the day at 11,856, even as the price chart formed a Big Black Body that engulfed the small body of the previous session. A black candle occurs when the closing is below the opening level. Manav Chopra, CMT, Head Research - Equity, Indiabulls Ventures, said profit booking continued after Monday’s Doji formation. “The near-term upward momentum is fading out, and a phase of correction or consolidation is setting in,” he said. Chopra said the market breadth on Tuesday was sharply negative, which indicated that the overall mood was weak on the Street. “Nifty’s near-term … [Read more...] about Tech View: Nifty forms solid black candle, may see further correction

Mumbai: V S Sundaresan took charge as executive director of the Securities and Exchange Board of India (Sebi) on Monday, the regulator said on Tuesday. Sundaresan earlier worked as chief general manager in enquiries and adjudication department in Sebi, and has more than 30 years of experience in the development, regulation and protection of interest of investors in Indian securities market and has worked in various departments in Sebi. He was head of the investigations department till July 31, and had supervised more than 500 investigation cases on market manipulation, insider trading, takeover of companies, public issues, collective investment schemes, compliance with continuous listing requirements, etc. His past assignments include formulation and enforcement of regulations on issuance of securities, listing, takeover of companies, buy-back and delisting, trading, clearing and settlement, risk management, dematerialisation, registration and supervision of stock brokers. He has … [Read more...] about V S Sundaresan takes charge as Sebi executive director

New Delhi: Regulator Sebi on Tuesday said it has not been able to reach a complainant who made a series of allegations against a market infrastructure institution (MII), where he claimed to be an employee but did not provide supporting documents or verifiable details. Sebi said it cannot take any action on complaints where the markets regulator is unable to reach back to the complainant or where the contents are not substantiated or verifiable. The statement comes in the backdrop of one Charul Singh making several complaints against a market infrastructure institution (MII) wherein he made grave allegations over certain issues and demanded investigation by Sebi. According to the regulator, the complainant made these allegations without any supporting documentary evidence and without disclosing his/her real identity. The name turned out to be fake, the address and phone number non-existent and there was no response from the e-mail ID. Also, while the complainant claimed to be a … [Read more...] about Sebi says can’t act on charges against MII as complainant unreachable