The value of delivery in both Steel Long and Diamond contracts expired on 4th January stood Rs 5.2 crore. This is the highest value of delivery at ICEX since the launch of Diamond and Steel Long future contract in August 2017 and August 2018 respectively. The settlement witnessed smooth delivery of 1230 MT steel Ingots/Billets valuing INR 4.06 crores and 31.34 carats of diamond valuing INR 1.06 crores.
Mr. Sanjit Prasad, MD & CEO of ICEX said, “ICEX has made a principled decision to launch compulsory delivery contracts which is a perfect platform and caters the need of all the participants in the echo system. Hence, ICEX trading platform provides a good opportunity for hedging the price risk for hedgers as contract expiry exhibits close convergence of the settlement and spot prices.”
In the previous month, i.e., December, 2018, ICEX registered physical delivery of 590 MT Steel valuing INR 1.99 crore, while the physical delivery of 32.10 carats diamonds valuing INR 60 lakh. He further added that “since inception, the quantity of delivery upon contract expiry has witnessed upward movement. It signifies credibility and transparency of ICEX contracts and settlement system which has been exhibited through increasing participation of commodity stakeholders.
Indian Commodity Exchange (ICEX) is SEBI regulated online Commodity Derivative Exchange. Headquartered at Mumbai, the exchange provide nationwide trading platform through its appointed brokers. The exchange launched world’s first ever Diamond derivative contracts.
Chennai Super Kings (CSK) is a franchise cricket team based in Chennai, Tamil Nadu, which plays in the Indian Premier League (IPL). Founded in 2008, the team is captained by Mahendra Singh Dhoni and coached by Stephen Fleming. Chennai Super Kings subsidiary Chennai Super Kings Cricket Ltd shares are in high demand as its owner of a growing IPL brand.
Globesecure Technologies is a nationally recognized systems and technology integrator that offers design, integration, and technical services. The company leads its clients through technology and system changes in Networking, Security, Performance, Acceleration, Monitoring, Application delivery control & Storage systems.
It has created a structure that supports customers from solution design and project implementation to training and technical support after the project is complete. It provides solutions for web content filtering, High Availability, Firewalls, IPS, Anti-spam, Wan Optimization & storage.
One97 Communications is India’s leading e-commerce. One97 runs Paytm, India’s largest digital goods marketplace. Paytm is also a leading payment solutions provider to e-commerce merchants using its RBI approved semi-closed wallet. The company’s stock is in huge demand and its share price is soaring regularly and the company might plan IPO in near future.
One97 delivers mobile content and commerce services to millions of mobile consumers through India’s most widely deployed telecom applications cloud platform.
Headquartered in New Delhi, One97 has regional offices in Mumbai, Bengaluru, Pune, Chennai and Kolkata with global presence in Africa, Europe, Middle East and Southeast Asia. The company is backed by marquee investors like Alibaba Group, Ant Financial (AliPay), SAIF Partners, Mediatek, Sapphire Venture and Silicon Valley Bank.
Studds Accessories has received market regulator Sebi’s approval to float an initial public offer (IPO). Studds Accessories is the leading manufacturers and exporters of Helmets & two wheeler accessories in India. Product range includes Two Wheeler Accessories. Studds has a strong global presence with partners in over 35 countries.
The company had filed its draft papers with the markets regulator in August seeking its clearance for the initial public offer (IPO). Studds Accessories’ IPO comprises fresh issuance of shares worth Rs 98 crore besides an offer for sale of 39.39 lakh equity shares by promoters Madhu Bhushan Khurana and Sidhartha Bhushan Khurana, and other existing shareholders.
Proceeds of the issue will be used to part-finance the motorcycle helmet, two-wheeler accessories, bicycle helmet manufacturing facilities in Faridabad, and for general corporate purposes. Edelweiss Financial Services and IIFL Holdings will manage the company’s public issue.