‘Bareilly Ki Barfi’ box office collection: Kriti Sanon, Ayushmann Khurrana, Rajkummar Rao starrer gets a word of mouth boost; mints Rs 6.27 crore in two days

'Bareilly Ki Barfi', directed by Ashwiny Iyer Tiwari , and starring Ayushmann Khurrana , Rajkummar Rao and Kriti Sanon in lead roles, has had a sweet start to its run at the domestic box office. The film produced by Junglee Pictures and BR Studios has collected an estimated Rs 6.27 crore within two days at the box office.The film announced its arrival at the ticket window with a collection of Rs 2.42 crore on Friday. With good word of mouth and great critical appreciation, the film saw a 59% growth on day 2, with an estimated collection of Rs 3.85 crore.The film, which brings together Ayushmann, Kriti and Rajkummar together for the first time on-screen, is a rom-com set in the North Indian town of Bareilly. The small-town romance features Kriti as Bitti, a confident, free-spirited Bareilly girl, who falls deeply in love with Pritam Vidrohi (Rajkummar) an author because she admires his progressive way of thinking. As she sets out on a quest to find her Prince Charming, she seeks help from Chirag Dubey (Ayushmann), the owner of a printing press.With the audience appreciating the performances, the positive word of mouth and the appreciation from critics across the board, it makes the film a must watch this weekend, given that 'Bareilly Ki Barfi' is touted as "Saal ki sabse swadisht aur parivarik film".

August 20, 2017 07:18 UTC

Three insurance firms including HDFC Standard Life file IPO papers in 3 wks; may fetch Rs 20K crore

NEW DELHI: In less than three weeks, three insurance firms, including HDFC Standard Life , have filed draft papers for IPOs that together are estimated to be worth nearly Rs 20,000 crore.With the IPO market bustling with activity, two government-owned entities -- New India Assurance and General Insurance Corporation of India (GIC Re) -- have joined the bandwagon this month.The public sector insurers are expected to hit the market in the current financial year to help the government meet its ambitious disinvestment target of Rs 72,500 crore.Amid persisting bullish market sentiments, despite intermittent volatility, around two dozen companies have filed preliminary papers for Initial Public Offers (IPOs) with regulator Sebi so far this year.Going by current trends, the IPO segment is expected to see better performance in 2017 compared to last year when 26 companies collectively mopped up more than Rs 26,000 crore -- making 2016 the best in six years.HDFC Standard Life Insurance is the latest company to join the IPO league and submitted draft IPO papers on August 18.The share sale is expected to be worth around Rs 7,500 crore, as per market sources.HDFC Standard Life Insurance's IPO comprises an offer for sale of over 29.98 crore equity shares or 14.97 per cent stake. This includes sale of 9.55 per cent stake by HDFC Ltd and 5.42 per cent holding by Standard Life Mauritius.Through New India Assurance's IPO, the government plans to sell 9.6 crore shares, besides fresh issue of 2.4 crore shares. It filed draft prospectus with Sebi on August 8.The offer is expected to fetch more than Rs 6,500 crore, sources said.In the case of GIC Re, the offer includes sale of 10.7 crore shares by the government apart from fresh issue of 1.7 crore shares. It filed IPO papers with Sebi on August 7.According to sources, GIC Re's IPO is also expected to mop up an amount similar to that of New India Assurance.Put together, the IPOs of the two insurance firms and one reinsurance company are estimated to fetch nearly Rs 20,000 crore.Last month, SBI Life Insurance Company and ICICI Lombard General Insurance Company had approached the Securities and Exchange Board of India (Sebi) with their respective IPO papers.In 2016, ICICI Prudential Life Insurance became the country's first listed insurer after its Rs 6,000 crore public issue.By taking the IPO route, the companies expect to achieve benefits of listing as well as enhance their brand name and provide liquidity to the existing shareholders.According to market experts, proactive regulatory environment coupled with a general uplift in investors' sentiment has given a fillip to the domestic IPO market.Market watchdog Sebi has taken numerous steps that are encouraging companies to sell shares. One key enabler was making Asba (Application Supported by Blocked Amount) mandatory for all investors, including retail.Market analysts feel that attractively priced IPOs would receive a solid response from investors as chances of getting listed with higher premiums are more.

August 20, 2017 07:18 UTC

BSE cautions market participants against unsolicited SMSes

NEW DELHI: Leading bourse BSE has asked market participants to exercise "greater caution" against unsolicited SMSes providing stock trading tips as regulators step up the vigil to prevent investors from being duped.There are increasing instances of bulk SMSes being sent to investors and the general public, inducing them to invest in or purchase the stocks of certain listed companies, indicating target prices and giving fraudulent and misleading or false information.Under Sebi regulations, investment advice and stock tips can only be given by investment advisors and certain other entities that are duly registered with the regulator.In a circular addressed to market participants, BSE has asked them "to exercise greater caution with respect to tips/ rumours circulated via various mediums while dealing in the securities listed on the exchange".Sebi, last week, announced that it has got help from telecom regulator Trai to curb fraudulent bulk SMSes that entrap gullible investors with stock tips promising huge financial gains.Trai and Sebi collaborated closely to review the existing regulatory framework and industry practices to help in reducing the vulnerability of the securities market to manipulation through misuse of mass communication devices like bulk SMSes.The collaboration came as Sebi sought attention of the Telecom Regulatory Authority of India (Trai) on the matter.Accordingly, Trai directed service providers to ensure that only Sebi-registered brokers are allowed to send investment advice SMSes to their customers.Also, service providers will have to ensure that suitable arrangements are made to filter and block messages sent by telemarketers using bulk SMS channel (as promotional messages) containing securities-related keywords like buy, sell, hold, accumulate, target followed by scrip code or scrip name provided by any recognised stock exchange.Capital markets regulator Sebi has taken action against some entities sending unsolicited stock tips in the past, while a few other such cases are under investigation.However, it has been difficult for the regulator to check this menace as a large number of individuals and entities have been indulging in such practices, prompting Sebi to seek Trai's help.

August 20, 2017 07:17 UTC