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PFS, which has been battling allegations of corporate governance lapses, has in the past year and a half seen resignations by several independent directors and got show-causes notices from both the stock market and banking regulators.

Almost 92% of FPIs inflow between June 1 and 15 went into just three sectors: financial services, capital goods, and auto, which have been favourites of overseas fund managers since the beginning of the year.

The five companies referenced in the order are Mauria Udyog Ltd., 7NR Retail Ltd., Darjeeling Ropeway Company Ltd., GBL Industries Ltd. and Vishal Fabrics Ltd.

Brokerage data shows that strong institutional interest prompted significant buy-ins from ABSL Mutual Fund, Blackrock, Goldman Sachs and Morgan Stanley, among others. Shriram Finance, formed via the merger of Shriram City Union Finance and Shriram Capital into Shriram Transport Finance, offers commercial vehicle, business and gold loan services.

The real estate sector was the biggest decliner, with a drop of 0.8%. Investors still expect only one rate hike of 25 basis points in July by the US central bank for the rest of the year. Crypto firms including Coinbase, Marathon Digital and Bit Digital, rose 2.6% to 9% as bitcoin prices increased. Shares of Chinese electric vehicle leaders Li Auto, Nio and Xpeng rose after China announced $72.3bn worth of tax breaks for green vehicles.

European government bond yields increased slightly on Wednesday after U.S. Federal Reserve Chair Jerome Powell said the central bank still has a long way to go in meeting its inflation target. This had already been priced in by markets. Short-dated yields reached fresh highs and bets on policy rates rose, ahead of the testimony of the US Fed Chair and nominees for three Fed Board seats. The Bank of England may tighten policy further as UK consumer price inflation was higher than expected in May. Euro area short-dated yields are edging towards levels last seen before a banking crisis disrupted financial markets in March.

"A meeting of the Board of Directors of the Company is scheduled to be held at New Delhi on Saturday, 24th June 2023 to, inter-alia, consider for issue of secured/ unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures

Despite the ongoing rally in the sector, these 10 smallcap stocks plunged up to 64% in 2023 so far.

​Under the proposed deal, Carlyle will sell about 1.84 crore shares or 2.53% stake in the company. The offer price is set at Rs 385.5 apiece, which is at a minor discount of 0.6% from the last traded price. Through the stake sale, Carlyle is likely to earn about Rs 709 crore.

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