Share Market News

NSE Indices has introduced a new version of the Nifty 50 index called the Nifty 50 Net Total Return (NTR) Index. This index is designed to gauge the performance of the Nifty 50 by factoring in reinvested cash dividends and gains from bonus issues, while also accounting for relevant withholding tax and capital gains tax. The index will be calculated in Indian Rupee (INR) and US Dollar (USD), resulting in two distinct variants: Nifty 50 Net Total Return (INR) and Nifty 50 Net Total Return (USD).

Furthermore, the launch of these new indices expands the options available for the Nifty 50 index, with a total of three variants for each currency: Nifty 50 Price Return (PR), Nifty 50 Total Return (TR), and Nifty 50 Net Total Return (NTR).

These indices are anticipated to attract international investors seeking to invest in the Indian equity market and are projected to serve as benchmarks for asset managers and as reference indices tracked by passive funds globally, such as Exchange Traded Funds (ETFs), index funds, and structured products.

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Easy Trip Planners has fixed 19 December 2023 as record date for interim dividend for FY 2024.

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The market capitalization of Indian listed companies on NSE surpassed $4 Trillion (Rs 334.72 trillion) on 1 December 2023.

"The journey of market capitalization of Indian listed companies from to $2 trillion (July 2017) to $3 trillion (May 2021) took about 46 months whereas the last $1 trillion i.e., from $3 trillion to $4 trillion took only about 30 months," the National Stock Exchange of India said in a release on 3 December 2023.

"While the $4 trillion market capitalization is an important milestone, data suggests that only 0.35% of the total private companies registered with Ministry of Corporate Affairs, Government of India are listed on the Exchanges indicating an enormous number of companies which can tap the equity market for their funding needs," it added.

The top 3 companies by market capitalization - Reliance Industries, Tata Consultancy Services and HDFC Bank remained the same when the market capitalization hit the $2 trillion, $3 trillion, and $4 trillion mark.

Whie India ranks amongst the top 5 nations based on market capitalization, the market capitalization of listed companies on NSE to India`s GDP stood at 1.18 or 118% which is lower as compared to developed markets such as United States of America or Japan.

The share turnover velocity at NSE for calendar year 2023 stood at 47%, lower than global markets such as the United States of America, Japan, South Korea, China, and Brazil, indicating growth potential for the Indian market. Additionally, the daily average turnover has seen significant year-on-year growth in the equity segment and equity derivatives, indicating a growing market.

Sriram Krishnan, chief business development officer, NSE said, "NSE listed companies` market capitalization surpassing the $4 trillion mark is an important milestone in the country�s journey towards the $5 trillion economy. The positive sentiment in the economy has provided a thrust to the capital markets. NSE as a market infrastructure institution will continue to thrive and provide the best-in-class market infrastructure for resource mobilization for the Government and the Corporates at the same time. It will continue to provide a robust platform for investors to invest in variety of financial products, thereby supporting the important aspect of capital formation in the country."

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Sonata Software has fixed 12 December 2023 as record date for issue of bonus shares in ratio of 1:1.

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Safari Industries (India) has fixed 12 December 2023 as record date for issue of bonus shares in ratio of 1:1.

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Teamo Productions HQ has fixed 14 December 2023 as record date for the purpose of subdivision/split of each equity share and preference share having face value of Rs.10/- each into 10 (Ten) equity shares and preference shares, respectively, having face value of Re.1/- each.

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Safari Industries (India) has fixed 12 December 2023 as record date for issue of bonus shares in ratio of 1:1.

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Bharat Petroleum Corporation has fixed 12 December 2023 as record date for interim dividend of Rs 21 per share of Rs 10 each for FY 2023-24. The dividend will be paid on or before 28 December 2023.

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