Afcons Infrastructure, the infrastructure engineering and construction firm of Shapoorji Pallonji Group, has filed its draft red herring prospectus with the market regulator SEBI to raise funds through an initial public offering (IPO).
As many as 70 stocks with over ₹1,000 crore in market capitalisation have declined between 15% and 50% in the last five trading sessions. Brokers are asking clients to liquidate their leveraged bets in the wake of regulatory warnings and concerns about smaller shares being overheated after a crackdown on a hawala operator for stock manipulation.
Global interest in Indian government debt, following its inclusion in a JP Morgan index, has sparked demand for a new derivative product called a total return swap (TRS). HSBC and Standard Chartered Bank have both seen significant activity in TRS trading since launching it in the GIFT City. Other foreign banks are seeking licenses to offer the product as well. The Securities and Exchange Board of India has established regulations for offshore derivative instrument providers.
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Securities and Exchange Board of India raises concerns over increased stakes in mid-cap and small-cap stocks by mutual funds, leading to rich valuations and vulnerability in case of a sell-off.
Fundraising through REITs and InvITs has surged 10-fold year-on-year to Rs 11,474 crore in 2023. The increase in fund mobilisation is attributed to efforts by regulator Sebi and the attractive returns offered by these investment options. Further growth is expected in 2024 due to factors such as anticipated rate cuts, tax incentives, and relaxed investment norms
