Indus Towers (84.63 percent) and SAIL (80.11 percent) have been placed on the National Stock Exchange’s futures and options (F&O) ban for trade on February 29. These stocks are prohibited in the F&O sector because they have exceeded 95 percent of the market-wide position limit (MWPL). The ban is reversed only if the open interest falls below 80 percent.

Why market got spooked by Sebi advisory to mutual funds to limit smallcap, midcap fund inflows Midcap and smallcap shares took a beating on February 28, with the respective indices diving around two percent. One of the reasons attributed for the fall was an advisory from mutual fund body AMFI to its member asset management companies!

After a positive opening, equity markets soon entered into negative territory and lost over 1% on Wednesday dragged by profit booking in index heavyweights. Markets turned cautious ahead of the release of India’s Q3 GDP data on Thursday and the FNO monthly expiry. We expect the market to remain volatile amid key events, said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

📌Reliance Industries have signed binding definitive agreements to form a joint venture (JV) for Viacom 18 and Star India 📌Coal India has signed a joint venture agreement (JVA) with BHEL. 📌NTPC Green Energy signed a joint venture agreement with MAHAGENCO. 📌JSW Steel has incorporated a new wholly-owned subsidiary, JSW Green Steel, in Mumbai on Feb 27.

Kotak Strategic Situations Fund, the alternative assets management fund of the Kotak Group, is looking to part fund Matrix Laboratories founder Nimmagadda Prasad's acquisition of Viatris' active pharmaceutical ingredients (API) business. The fund plans to provide a $150 million mezzanine debt facility at 18-20% and arrange another $300 million from other lenders to finance the acquisition.

Benchmark indices tanked over 1% on Wednesday due to selling in index heavyweights and bank stocks amid weak global market trends. In today's trade, shares of RIL, Shriram Finance, GPT Healthcare, Coal India, Oil India among others will be in focus due to news related developments. Reliance Industries has signed a binding agreement with Disney to form a joint venture that will combine business.

The market reached very close to 21-day EMA (exponential moving average placed at 21,947) after more than one percent correction seen on February 28. Hence, all eyes are on the monthly expiry day for futures and options contracts on February 29. If the index manages to defend 21,950, then it may face resistance at 22,000-22,100, but in case of a breakdown, the index may correct up to 21,800.

Bitcoin hit $60,000 on Wednesday for the first time in more than two years, as a flurry of capital into new U.S. spot bitcoin exchange traded products fuelled a 42% price rally in February, which would mark its largest monthly gain since December 2020. Bitcoin was last up 6% at $60,131, its highest since November 2021, when it hit a record just below $70,000.

The sales growth of listed private manufacturing companies and the information technology (IT) sector moderated in the October-December quarter of the financial year 2023-24, the Reserve Bank of India (RBI) data on the performance of the private corporate sector showed. The data showed that the aggregate sales of 1,685 listed private manufacturing companies, on a year-on-year (YoY) basis.

The Bengaluru National Company Law Tribunal on Wednesday asked Byju’s to “consider the extension” of the closure date of the rights issue beyond 28 February. The court did not stop the closure of the rights issue but asked Byju's to keep the funds untouched. The next hearing is now scheduled for 4 April. A person familiar with the company's thinking, however, said that the 28 February deadline.

The chief executive officer of Yes Bank Prashant Kumar has said that the compliance process and due-diligence checks have become tighter on fintech partnerships after Reserve Bank of India’s regulatory clampdown on Paytm Payments Bank. “Earlier our focus was more on what we are doing, the nature of partnerships that we are getting into and whether we are complainant.

The Reserve Bank of India (RBI) on February 27 said it has cancelled the licence of Rajasthan-based Sumerpur Mercantile Urban Cooperative Bank Limited citing weak financials, following which the bank will cease to carry on banking business. The cancellation is with effect from the close of business on February 28, 2024, the RBI said. Further, the registrar of cooperative societies of Rajasthan.

Accenture Plc will acquire Mindcurv, German IT services and data analytics firm, to expand its commercial services globally, the US company said in a release.Accenture Song, the parent company’s digital agency, agreed to acquire the Essen-headquartered IT services company for an undisclosed amount. Mindcurv provides digital services to clients in the manufacturing, retail, consumer goods.

The market regulator has affirmed its directives concerning 20 out of the 25 entities involved in the Brightcom Group case. The Securities and Exchange Board of India (Sebi) conducted an investigation into a preferential issue of shares and warrants, during which it was discovered that some allottees made only partial payments, according to a Moneycontrol report.

The National Company Law Tribunal (NCLT) in its order passed on February 27 has directed ed tech company Byju's to keep funds received from the rights issue in an escrow account till the disposal of the oppression and mismanagement plea filed by four of the company's investors. The tribunal has further directed Byju's to "consider the extension of the closure date of the right issue.