Market | Pixr8 News

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

11Jul By NitishNo Comments

Market

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

India's largest private sector bank HDFC becomes the first Indian bank which offer mutual fund transactions through Facebook Messenger. HDFC securities, a subsidiary of HDFC Bank launch a theme called "The Pace of Innovation" which is structured to innovate and provide intuitive and relevant digital solutions to customers and this effort, is in line with the vision. This particular feature, apart from mutual fund investments, facilitates a quick overview of total portfolio holding, getting the latest stock quotes and opening an account. ALSO READ: After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion Here's a guide to how this works: -Go to Facebook Messenger and search for hdfcsec.Arya -Can open a trading account -Post login, one can complete MF transactio...

11Jul By Gauri SinghNo Comments

Market

After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion

HDFC (Housing Development Finance Corporation), which is led by Deepak Parekh has crossed the milestone of market capitalization amounting to Rs 10 trillion. This has marked the company as the second Indian business house after the Tata group to achieve this milestone. This news comes a few days after Deepak Parekh announced his views regarding the succession plan. The company at present has four listed ventures, that are Housing Finance Development Corp. Ltd, HDFC Bank Ltd, life insurance firm HDFC Standard Life Ltd and Gruh Finance Ltd. Whereas, the Tata Group has moreover 30 firms listed on the stock exchange. At the close of trade, the HDFC’s market valuation was at Rs 5,59,633.53 crore, HDFC Ltd was Rs 3,26,776.81 crore, HDFC Standard Life Insurance Company at Rs 95,936.72 crore...

News of the Day: BSE Postpones The Launch of Its Startup Platform

10Jul By Gauri SinghNo Comments

Market

News of the Day: BSE Postpones The Launch of Its Startup Platform

The Bombay Stock Exchange has reportedly postponed the launch of its new platform under BSE SME which was focused on listing startups. The launch was earlier scheduled on 9th of July but could not be taken forward. However, the reason for the same has not been disclosed yet. BSE was launching the platform for the basic purpose of listing fresh companies in sectors like IT, ITES, biotechnology and life sciences, 3D printing, space technology and e-commerce to give a boost to startups. "BSE has decided to postpone the split of the BSE startup sub-segment from BSE SME segment. Startups will continue to list on BSE SME segment as usual. These startups will have the option to migrate to BSE startup segment once BSE startup segment is launched," BSE said in a circular. The officials from th...

Online Startups That Are Listed Under Stock Exchange

9Jul By Gauri SinghNo Comments

Market

Online Startups That Are Listed Under Stock Exchange

What is the stock exchange? In simple words, stock exchange refers to an organized market in which securities are bought and sold. If we go into the detailed description, the prices at which these securities are bought and sold are regulated by the forces of demand and supply. The stock exchange basically is an investment intermediary for corporations, governments, municipalities, and other incorporated bodies where they can raise capital by channeling savings of the investors in various productive ventures. The other purpose served by the stock exchange is that the investors can sell their securities to other investors for cash. These exchanges impose various rules and regulations on the firms and brokers that are involved with them. If a particular company is traded on an exchange,...

Despite of Data Controversy, Facebook Stock Closes All Time High

7Jul By PriyankaNo Comments

Market

Despite of Data Controversy, Facebook Stock Closes All Time High

The social media giant Facebook stock closes at an all-time record high of USD 203.23. Despite Cambridge Analytica data scam controversy, Facebook is still fetching a good number of returns. Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 after the scam controversy hits. Facebook revenue projections for 2020 at USD 87.5 billion. The firm currently has Facebook with a buy rating and a price target of $275. "Messenger has been deploying more ads in recent weeks and should be “highly material” to profits. And Instagram has reached 1 billion monthly active users," the company said today. ALSO READ: Online Startup SaleBhai Received BSE Approval for SME IPO After grabbing attention in 2012, Facebook has seen its stock rise...

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

4Jul By Gauri SinghNo Comments

Market

IndiaMart Successfully Plans An IPO: Offers Millions of Shares

Indian e-commerce company ‘IndiaMart’ has confirmed that it is going to issue an initial public offering (IPO) very soon. The company had filed its draft papers recently to SEBI (Securities and Exchange Board of India). The online company will start the process of IPO in the next financial year. It is a Noida-based company and will offer up to 4.28 million shares through its offer for sale. The promoters and investors will also sell a proportion of their stakes in the venture. “We will go for IPO soon. Basically, we are not in need to raise external money but we want to give an exit route to existing investors. Most of the equity sale will happen in secondary market,” said Dinesh Agarwal, Indiamart founder and CEO. According to the reports, the company’s investors will sell 2.07 Mn sh...

Indian Stock Exchange BSE Will Delist 222 Companies Tomorrow

3Jul By AdityaNo Comments

Market

Indian Stock Exchange BSE Will Delist 222 Companies Tomorrow

Mumbai based stock exchange BSE planning to delist as many as 222 companies from tomorrow. The trading of these shares has remained suspended for next six months. The reason behind this move is clamping down on shell companies listed as well as unlisted for being allegedly used as conduits for illicit fund flows. In August last year, Sebi had directed exchanges to act against 331 suspected shell companies, while the government has already deregistered more than 2 lakh firms that have not been carrying out business activities for long. In a circular, the BSE said, "210 companies that have remained suspended for more than six months would be delisted from the platform of the exchange, with effect from July 4, 2018, pursuant to an order of the delisting committee of the exchange". Furth...

Online Startup SaleBhai Received BSE Approval for SME IPO

3Jul By AnkitaNo Comments

Market

Online Startup SaleBhai Received BSE Approval for SME IPO

New Delhi, 3rd July, 2018: B2C e-commerce company SaleBhai Internet Limited, the owner and operator of SaleBhai.com have received BSE approval for its Initial Public Offering (IPO) on SME Platform of BSE. The company had filed a Draft Prospectus (DP) with BSE for listing on the SME platform of BSE Ltd on May 17, 2018, and has now received in-principle approval from BSE. BSE’s approval means that the Ahmedabad-based E-commerce startup will be the first to raise money through public route at such an early stage. Salebhai had already received funding and support from 71 high net worth individuals. This interest from existing customers propelled the company to raise money from the general public through an IPO. Commenting on the IPO, Vishwavijay Singh, Co-Founder, SaleBhai, said, “We ...

No Change In Interest Rate Of Small Saving Schemes

2Jul By Gauri SinghNo Comments

Market

No Change In Interest Rate Of Small Saving Schemes

A large proportion of India’s population participates in the several government saving schemes. In this regard, a very important source of savings for the households in the country is made through the small saving schemes (SSSs) that include public provident fund, post office deposits, senior citizens savings scheme, time deposits and much more. The basic objective of the government through these schemes is to support the social security as well as help in resource mobilization for the government. Talking about the interest rate of these schemes, the rate of interest is slightly high as compared to that of other financial schemes. The interest rates were expected to be hiked but to the disappointment of the fixed income group and the savers, the government has not come up with any chang...

Ecommerce Logistic firm Delhivery seeks $350 Mn IPO in coming months

29Jun By Lavina TolaniNo Comments

Market

Ecommerce Logistic firm Delhivery seeks $350 Mn IPO in coming months

E-commerce logistics company Delhivery is gearing up for capital market debut with a $350-million (2,500 crores) initial public offer in coming months, a move that will mark first e-logistics listing in the country. Delhivery has hired leading firms Goldman Sachs, Morgan Stanley, Citigroup and Kotak to look after its IPO process. The IPO will witness a mix of primary and secondary sale as the Gurgaon based company is seeking a valuation of $2-2.8 billion as informed by the sources. It is interesting to note that company earlier raised $100 million from Carlyle and Tiger Global and another %30 million from Chinese giant Fosun Group in 2017. Back in 2015, it raised about $85 mn from Nexus Venture Partners, Multiples Alternate Asset Management, Tiger Global and Times Internet. Delhi...

28Jun By Press Trust of IndiaNo Comments

Market

HDFC Mutual Fund Gets Sebi Nod For IPO

HDFC Asset Management Company, the country's largest mutual fund firm, has received Sebi's go-ahead to float an initial public offer. The company had filed draft papers with Securities and Exchange Board of India (Sebi) in March and received its "observations" on June 22, as per the latest update with the markets watchdog. Sebi's observations are necessary for any company to launch public issues like a rights issue, initial public offer (IPO) and follow-on public offer (FPO). HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. Going by the draft papers, the proposed IPO offers up to 2.54 crore equity shares of the fund house through an offer for sale of 85.92 lakh shares by HDFC and up to 1.68 crore shares b...

Here’s the Criteria to List Your Startup on BSE’s New Platform

26Jun By Lavina TolaniNo Comments

Market

Here’s the Criteria to List Your Startup on BSE’s New Platform

In an attempt to push startup environment facilitating the listing of startups in different sectors IT, ITES, biotech, 3D printing, space tech, and e-commerce, BSE India is launching a platform for new-age companies from July 9. The maiden platform will help in the listing of startups from other sectors too including defence, drones, nanotechnologies, virtual reality, big data, e-gaming, robotics, genetic engineering and more as informed by BSE officials. There is a certain criterion that startups and SME's in the above-mentioned sectors will have to fulfil for their listing in the world's fastest exchange as claimed by BSE. Some of the mandatory conditions are: The company should have a pre-issue paid up equity share capital of a minimum of Rs. 1 crore. ...