Friday, October 02
BSE has launched a new generative AI tool to help speed up the initial checking process of SME IPO documents. Right now, vetting these documents can take several days or even weeks — but with this new tool, experts say the process could be reduced to just 30–40 minutes.As per a recent circular, merchant bankers — who handle IPO filings — will be given access to a special folder where they can upload draft IPO documents. The AI tool will scan the draft and highlight any sections that need improvement or corrections before final submission."This tool is meant to improve the SME listing experience," said BSE. The AI tool will be accessed through a secure file transfer system (SFTP) and will serve as a pre-check mechanism, helping bankers make the draft more compliant before officially
Zerodha co-founder Nithin Kamath has offered a candid assessment of the hidden risks in India’s broking business—particularly what he calls a “massive concentration risk” that the market rarely talks about.In a post on X, Kamath recalled a conversation with a veteran from private equity who had evaluated a broking firm in 2008 but backed out. “The revenue was concentrated in just a handful of clients,” the investor had said—something that spooked them. At the time, a very small group of traders generated most of the exchange turnover. “This was a lot worse back then,” Kamath noted.Fast forward to today, and while the number of retail traders has increased, the problem hasn’t gone away—it has only shifted shape. “For us, it's over 80%,” Kamath said, referring to th
Mumbai: Mid-cap and small-cap stocks - the outperformers in the recent market rebound - led the declines in equities on Thursday as investors grew wary of stretched valuations. The Nifty Midcap 150 and Small-cap 250 indices fell 1.6% and 1.9%, respectively, on Thursday, while the benchmark Nifty ended 0.1% lower."Post the outperformance in May, mid-cap and small-cap stocks are witnessing profit taking at higher levels as the valuations have become slightly stretched," said Nilesh Jain, head of derivatives and technical research, Centrum Broking. "Typically, quick up moves are followed by such retracements."The Nifty Midcap 150 and Small-cap 250 indices surged 6.3% and 9.3% each in May, outperforming the benchmark index, which gained 1.7% in the same period. Mid-cap and small-cap stocks hav
