Latest Stock Market News

Bitcoin has risen more than 133% so far this year, outperforming gains in many other traditional sectors as investors favored exposure to riskier assets. Traders are optimistic that the US Securities and Exchange Commission might soon approve the country’s first exchange-traded fund tied directly to Bitcoin.

"Delta has decided to make a strategic investment of Rs 99,99,88,000 in Peninsula Land (PLL), which will issue 1,50,00,000 equity shares and 77,27,000 CCDs at Rs 44/-. Furthermore, a joint venture is envisaged to be established between Delta & PLL with a capital outlay of Rs 250 crores, where Delta will be a majority stakeholder. This JV will help Delta expand into the sector," the company said in an exchange filing.

Almost 40% of investors chose India as the most attractive emerging market, while less than a quarter selected China in a survey by London-based think-tank Official Monetary and Financial Institutions Forum. It included 100 funds managing $26 trillion in assets, including Singapore’s GIC Pte. and Canada’s Caisse de Depot et Placement du Quebec.

As of 30-Sep-2023, promoters held 46.09 per cent stake in the company, while FIIs held 20.01 per cent and domestic institutional investors had 17.26 per cent.

MicroStrategy Inc., the largest publicly-traded corporate holder of Bitcoin, last month bought $593 million more of the token, taking its pile to roughly $6.5 billion. Michael Novogratz, founder of Galaxy Digital Holdings Ltd., on Wednesday said Bitcoin a year from now may reach its 2021 peak of almost $69,000.

For more such web stories click on the ET

“If you look at the kind of companies where the stocks are going up even more are the ones that are not even covered by many research houses. So the stocks that are the smaller ones, not in any coverage by the sell side are still seeing a lot of rally. So clearly, there is some irrationality.”

While the buyback entitlement for small investors, as defined by those with investments up to Rs 2 lakh, was fixed at 17%, the final acceptance ratio is expected to be around 30-35% in the category as not all shareholders participate in the buyback. The acceptance ratio has been 100% during the previous buybacks in 2017, 2018, and 2020. However, the acceptance ratio was around 24% during the last buyback in 2022.

When the stock prices move up and open interest on the counter also moves upward, it is taken as a sign of a long buildup.

NSDL data shows that FIIs have bought Indian stocks worth about $1 billion last month in which Nifty ended 5.6% higher. The buying by FIIs, DIIs as well as ever-bullish retail investors have led to an increase in the total market capitalisation of all BSE-listed stocks to $4 trillion and catapulted the index to all-time high levels