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Market Live: Stock market opens with gains, Sensex up 173 points, Nifty rises by 54 points


Bombay Stock Exchange’s 30-share sensitive index Sensex today gained 146.67 points. 33,450.19 If opened at the level of the National Stock Exchange, the Nifty also started the day’s trading with an edge. The Sensex was up 184 points at 33,488.25 in early trade while the Nifty was also seeing a jump of 54 points.

On Monday, the Sensex closed at a level of 33,303.52 with a jump of 879.42 points. On the first day of the unlock, the Nifty also closed 9,826.15 at the level with a gain of 245.85 points. There was tremendous buying in the metal sector.

Rights issue of Reliance Industries subscribed 1.1 times

The Rs 53,124-crore rights issue of India’s richest businessman Mukesh Ambani’s company, Reliance Industries, was subscribed 1.1 times on Monday, two days before the closing. This was informed by the data available on the stock markets. As per the data, bids were received for 46.04 crore shares as against 42.26 crore shares offered. This is 8.9 percent more than what was offered. Bids were received for 44.85 crore shares on BSE. Apart from this, bids were received for 0.57 crore shares on NSE and 0.62 crore shares through R-WAP through the registrar.

Organizations that do not work for profit will be directly listed on the ‘Social Exchange’

A committee set up by capital market regulator SEBI has suggested that organizations not working for private profits can list their bonds directly on social exchanges. The committee has said that such ‘social stock exchanges (SSEs) can be established only in the existing stock exchanges. This committee, set up to give suggestions on the Social Stock Exchange, says that due to this, SSEs will be able to take advantage of the facilities available in the existing markets.

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Through the customer contact facilities of these markets, investors, donors and social enterprises (both profitable and non-profitable) can also be contacted. The committee made such recommendations in its report submitted to the capital markets regulator. Along with this, the committee has also suggested a number of systems for financing. Among these, a suggestion has also been made for Social Enterprise Fund (AVF) under Alternative Investment Fund. Apart from this, a new minimum reporting standard has also been proposed for organizations raising funds under SSE.

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