Latest news with #Market
The Star
a day ago
- Business
- The Star
Master Tec proposes transfer to Main Market of Bursa Malaysia
KUALA LUMPUR: Master TEC Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd. The cable manufacturer also proposed relevant amendments to the company's constitution to support the transfer, reflecting its commitment to meeting the higher regulatory requirements of the Main Market. 'This proposed Main Market transfer is a testament to the strength and resilience of our business. Since our listing, we have achieved several operational milestones, expanded our manufacturing capacity, and diversified our revenue streams through the integration of infrastructure-related services. 'The move to the Main Market marks the next chapter of our corporate journey, aligning with our long-term strategy to enhance visibility, broaden our investor base, and access more robust capital markets,' executive director Tee Kok Hwa said in a statement. The proposed transfer comes less than two years after Master Tec made its debut on the ACE Market in January 2024. Based on the audited financial results for the financial year ended Dec 31, 2024 (FY24), Master Tec recorded a consolidated profit after tax attributable to owners of the company (Patami) of RM27.01mil. Over the last three financial years, from FY22 to FY24, the group achieved a cumulative adjusted Patami of RM73.3mil, exceeding the RM20mil minimum threshold required under the profit test of the Securities Commission's Equity Guidelines.' Master Tec noted its strong financial health, reporting a current ratio of 1.81 times, a gearing ratio of 0.35 times, and retained earnings of RM93.8mil as of Dec 31, 2024. The group also noted positive net operating cash flows of RM29.88mil in FY24, underscoring its solid liquidity and financial stability. Master Tec's share price closed at RM1.06 on Friday, giving it a market capitalisation of RM1.08bil.
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Business Standard
2 days ago
- Business
- Business Standard
Stock Market LIVE: GIFT Nifty signals flat open; Asia market dips; Trump tariffs reinstated
8:09 AM Stock Market LIVE Updates: Reserve Bank of India lens on payment fintechs over misclassified merchants Stock Market LIVE Updates: The Reserve Bank of India is investigating payment fintech companies for allegedly misclassifying merchants to take advantage of credit card fee structures, according to sources familiar with the matter. The probe has reportedly led major card networks to adjust their interchange rates. Several payment aggregators are accused of classifying merchants, usually in the retail sector, as utility merchants—a category that typically attracts lower interchange fees. The reclassification allegedly enabled payment firms to retain the difference between the fees charged to merchants and the amounts received by issuing bank s. READ MORE 8:05 AM Stock Market LIVE Updates: Bandhan Bank stock startegy -- Long build up is seen in Bandhan Bank Futures, where we have seen 17 per cent rise in open interest with Bandhan Bank share price rising 1 per cent on Thursday, May 29. -- Bandhan Bank stock price has been forming bullish 'higher top-higher bottom' formation on the daily chart. -- RSI oscillator is in rising mode and placed above 60 on the daily chart, indicating strength in the current uptrend. READ MORE 7:58 AM Stock Market LIVE Updates: Currency circulation rises 5.8% as ₹2,000 note impact fades: RBI Stock Market LIVE Updates: The growth of currency in circulation, which constitutes the largest component of reserve money at 76.9 per cent, rebounded to 5.8 per cent in 2024-25, up from 4.1 per cent the previous year. This recovery is attributed to the easing impact of the ₹2,000 note withdrawal, according to the Reserve Bank of India's (RBI) Annual Report 2024-25. The withdrawal of ₹2,000 banknotes from circulation began on May 19, 2023. By March 31, approximately 98.2 per cent of these notes—totaling ₹3.56 trillion—had been returned to the banking system. The RBI has made facilities available for exchanging and depositing ₹2,000 notes at 19 of its issue offices across the country. READ MORE 7:53 AM Stock Market LIVE Updates: India's defence budget may near Rs 32 trillion by 2047: CII-KPMG report Stock Market LIVE Updates: India's defence budget is projected to increase nearly fivefold, reaching Rs 31.7 trillion by 2047 from Rs 6.81 trillion in FY2025-26, according to the Defence Industrial Sector Vision 2047 report by the Confederation of Indian Industry (CII) and KPMG India. Defence production is expected to grow over sixfold to Rs 8.8 trillion from Rs 1.46 trillion in FY2024-25. Unveiled on Thursday at the CII Annual Business Summit in New Delhi, the report—titled 'Atmanirbhar, Agrani, and Atulya Bharat 2047'—also forecasts India's defence exports to surge nearly twelvefold to Rs 2.8 trillion by 2047, up from Rs 24,000 crore in FY2024-25. Additionally, total research and development (R&D) spending is expected to rise from the current 4 per cent of the defence budget to 8-10 per cent, while defence expenditure as a percentage of GDP could double from 2 per cent to 4-5 per cent. The report calls these targets major milestones and highlights three key conditions that must be met in the coming years to realise these goals. READ MORE 7:46 AM Stock Market LIVE Updates: Nifty trading strategy: Apply Bull Call Spread as index remains in uptrend Stock Market LIVE Updates: Nifty trading stratgey -- The Nifty index has structurally resumed its upward trajectory after forming a likely swing low at 24,462 on May 22. -- The trend remains positive as long as the swing low at 24,462 is intact. Short-term dips should be viewed as buying opportunities within this broader uptrend. -- Healthy market breadth suggests a potential resurgence in broader market momentum, with an upside target of 25,500 in the near term. READ MORE 7:42 AM Stock Market LIVE Updates: Improved execution likely to drive growth gains for Bharat Dynamics Stock Market LIVE Updates: Defence major Bharat Dynamics Limited (BDL), a public sector undertaking, posted a mixed performance in the fourth quarter of FY2024-25. Although its revenues doubled compared to the same period last year, profitability fell short of expectations. The company's strong order inflows and robust backlog provide good revenue visibility. However, brokerages stress that the key factor will be the pace of order execution, as BDL manufactures guided missiles and related equipment for the Indian armed forces. READ MORE 7:36 AM Stock Market LIVE Updates: Realisation worries, capital expenditure likely to hit NMDC stock Stock Market LIVE Updates: NMDC reported Q4FY25 revenue of ₹7,000 crore, marking an 8 per cent year-on-year (Y-o-Y) increase and a 7 per cent rise quarter-on-quarter (Q-o-Q), supported by strong volumes and improved net sales realisation (NSR). Iron ore production remained steady at 13.3 million tonnes (mt), showing no major change Y-o-Y or Q-o-Q. Sales volume reached 12.7 mt, up 1 per cent Y-o-Y and 6 per cent Q-o-Q during the quarter. The average sales price stood at ₹5,530 per tonne, reflecting a 7 per cent Y-o-Y increase and remaining flat compared to the previous quarter. READ MORE 7:30 AM Stock Market LIVE Updates: Sebi unveils new OI metric, position limits in fresh F&O overhaul Stock Market LIVE Updates: The Securities and Exchange Board of India (Sebi) on Thursday announced a new framework for the derivatives segment, introducing updated methods to calculate open interest (OI) and market-wide position limits (MWPL). These changes are designed to boost risk monitoring, reduce the number of stocks entering the futures and options (F&O) ban period, and strengthen controls against manipulation risks and concentration in index options. Initially proposed in a Sebi consultation paper, the measures raised concerns about potentially dampening trading activity, with F&O volumes already down 30 per cent from their peak. However, following extensive discussions with industry stakeholders, Sebi made several key revisions to the original proposals. 7:26 AM Stock Market LIVE Updates: Tokyo's core inflation jumps o 3.6% in May Stock Market LIVE Updates: Tokyo's core inflation accelerated to 3.6 per cent in May, marking the fastest increase in over two years. The core consumer price index (CPI), which excludes fresh food, rose 3.6 per cent year-on-year (Y-o-Y), up from 3.4 per cent in April, the Statistics Bureau of Japan reported on Friday. This latest figure is the highest since January 2023 and exceeded economists' forecasts of 3.5 per cent, according to a Reuters poll. It represents the quickest annual rise since January 2023, when core inflation reached 4.3 per cent, based on LSEG data. The increase was partly influenced by the base effect from last year's sharp decline, which followed the introduction of school education subsidies and the phase-out of nationwide utility bill subsidies. Meanwhile, Tokyo's headline consumer price index in May stood at 3.4 per cent year-on-year, slightly down from 3.5 per cent in April. Source: CNBC 7:24 AM Stock Market LIVE Updates: Sebi probing delayed disclosures of accounting lapses at IndusInd Banka Stock Market LIVE Updates: The Securities and Exchange Board of India (Sebi) may issue a follow-up order against IndusInd Bank for potential breaches of the Listing Obligations and Disclosure Requirements (LODR) regulations, according to indications in the regulator's 32-page interim order. Sebi's review of internal email communications—summarised in its May 28 order—revealed that senior executives, including the chief financial officer (CFO), were aware of accounting discrepancies as early as November 2023. However, the bank delayed disclosure, classifying information related to derivatives losses as 'unpublished price-sensitive information' (UPSI) only on March 4. It wasn't until March 10 that IndusInd Bank notified stock exchanges, leading to a 27 per cent plunge in its share price. READ MORE 7:22 AM Stock Market LIVE Updates: Trump tariffs reinstated by appeals court for now Stock Market LIVE Updates: A federal appeals court on Thursday granted the Trump administration's request to temporarily halt a lower court ruling that invalidated most of President Donald Trump's tariffs. The US Court of Appeals for the Federal Circuit issued an order stating that the decision by the US Court of International Trade, delivered Wednesday night, is "temporarily stayed until further notice" while it reviews the case. The move provides the Trump administration with some breathing room as it prepares to argue for a longer suspension of the trade court's ruling throughout the appeals process. The administration had warned it would seek "emergency relief" from the Supreme Court as early as Friday if the ruling wasn't paused swiftly. Despite the legal setback, Trump officials insist they still have alternative pathways to impose tariffs, even if the current case doesn't go in their favour. 7:21 AM Stock Market LIVE Updates: India's GDP growth likely accelerated in Q4 on rural demand, state spending Stock Market LIVE Updates: India's economic growth likely accelerated in the January–March quarter, driven by a rebound in rural demand and increased government spending, even as private sector investments remained subdued due to global uncertainties. According to a Reuters poll of economists, gross domestic product (GDP) is estimated to have expanded by 6.7 per cent year-on-year during the March quarter, up from 6.2 per cent in the preceding three months. 'Rural consumption saw an uptick during the quarter, although urban demand indicators were mixed,' said Gaura Sen Gupta, chief economist at IDFC First Bank Economic Research. She added that government expenditure continued to support investment activity. READ MORE 7:11 AM Stock Market LIVE Updates: US markets end higher on Thursday
Yahoo
2 days ago
- Business
- Yahoo
Tazewell secures funding for first phase of Clinch River Pavilion and Farmers Market project
tazewell, va. — The popular farmers market in Tazewell will soon have a new and permanent home. The town of Tazewell has been awarded a $296,500 grant from the Virginia Tobacco Commission for the first phase of the Clinch River Pavilion and Farmers Market project. This project will provide a new home for the Tazewell Farmers Market while also providing a new option for community events and economic growth. The farmers market is currently located off Fincastle Turnpike at the first Tazewell exit, but the new location will provide consistency for the market as well as shelter from rain and other weather, Tazewell Town Manager Leeanne Regon said. 'So the town council has agreed to allocate funds to match the Tobacco Commission award,' Regon said Tuesday. 'The town council has allocated the same. Without the tobacco commission awards we would not have funding to do this first phase. So the first phase will be site development and construction of the pavilion. And when it is not in use by the farmer's market, it would be available for other events.' Regon said the Cumberland Forest Community Fund also has awarded a $15,000 grant to the town to construct a river walk area near the rear of the Clinch River Pavilion and Farmers Market property. The new farmers market is planned at the site of the former bowling alley in North Tazewell. That location has already undergone significant improvements with the removal of the dilapidated structure and site remediation, which was completed through funding provided by the Virginia Department of Environmental Quality's Brownfields program. Regon said the development is a work in progress, adding the town is looking at the possibility of acquiring a pre-fabricated facility for the shelter. She said Delegate James W. 'Will' Morefield, R-Tazewell, and Senator Travis Hackworth, R-Tazewell, are both backing and supporting the project on the state level. The town is hoping that the new Clinch River Pavilion & Farmers Market will serve as a catalyst for a second project — the North Tazewell Business District Revitalization. Regon said the town has received a planning grant from the Virginia Department of Housing and Community Development for that project which will allow for facade improvements for the properties in the business district as well as the redevelopment of a commercial property that is being transferred to the town of Tazewell's Industrial/Economic Development Authority. 'We would welcome just about any business,' Reagon said when asked what type of business would be sought for the redeveloped commercial property. Regon said the town will seek a Community Development Block Grant in the future from the Department of Housing and Community Development for the business district revitalization plan. Contact Charles Owens at cowens@
The Star
3 days ago
- Business
- The Star
Main Market-bound Paradigm REIT's IPO oversubscribed by 1.49 times
KUALA LUMPUR: Paradigm Real Estate Investment Trust (REIT) has seen its initial public offering (IPO) oversubscribed by 1.49 times, prior to its listing on the Main Market of Bursa Malaysia Securities Bhd. In a statement today, the company reported receiving 4,408 applicants for a total of 79.79 million offer units, which were allocated for the 32 million issue shares to the Malaysian public. "For the Bumiputera portion, 517 applications were received for 4.65 million shares. The remaining shares were reallocated in accordance with the clawback provisions outlined in Section 3.4.3 of Paradigm REIT's prospectus dated May 16, 2025. "As for the non-Bumiputera portion, 3,837 applications were submitted for 75.13 million issue shares, resulting in an oversubscription rate of 3.70 times,' the company said. Paradigm REIT also reported that 73.62 million units under the restricted offering were subscribed by entitled shareholders of WCT Holdings Bhd , with the remaining shares reallocated under the same clawback provisions. Under the restricted pink form offering, 8.43 million units were subscribed by eligible directors and employees. Remaining units were similarly reallocated under Section 3.4.3 of the prospectus. The REIT further stated that its joint bookrunners confirmed full subscription of all 426.59 million institutional offer units, which were offered to institutional and selected investors, including Ministry of International Trade and Industry-approved Bumiputera investors. "Notices of allotment will be posted to all successful applicants by June 9, 2025,' Paradigm REIT said. Maybank Investment Bank Bhd is the principal adviser, lead bookrunner, joint bookrunner, sole managing underwriter, and joint underwriter for the offering. AmInvestment Bank and CGS International Securities Malaysia are joint bookrunners and underwriters, while RHB Investment Bank also serves as a joint bookrunner. - Bernama
Yahoo
3 days ago
- Business
- Yahoo
OTC Markets Group Welcomes Magna Mining Inc. to OTCQX
NEW YORK, May 28, 2025 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced that Magna Mining Inc. (TSX-V: NICU; OTCQX: MGMNF), a company engaged in the acquisition, production, development and exploration of mineral properties in Canada, with a current focus on copper, has qualified to trade on the OTCQX® Best Market. Magna Mining Inc. upgraded to OTCQX from the OTCQB® Venture Market. Magna Mining Inc. begins trading today on OTCQX under the symbol 'MGMNF.' U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market from the OTCQB Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors. About Magna Mining Inc. Magna Mining Inc is a producing mining company with a portfolio of copper, nickel and PGM operating, development and exploration projects in the Sudbury Region of Ontario, Canada. The Company's primary assets are the producing McCreedy West copper mine and the past producing Levack, Podolsky, Shakespeare and Crean Hill mines. Additional information about the Company is available on SEDAR ( and the Company's website ( About OTC Markets Group Inc. OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market, and Pink® Open Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets. OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit Subscribe to the OTC Markets RSS Feed Media Contact:OTC Markets Group Inc., +1 (212) 896-4428, media@ in to access your portfolio
