Posts in category Business Standard
Reduction in face value of corporate bond to deepen debt market: Experts (01-05-2024)
Sebi to reduce the face value of corporate bonds from Rs 1 lakh to Rs 10,000 is expected to make bond investments more appealing
IL&FS MF pays Rs 600 crore to debt infra investors; makes timely redemption (01-05-2024)
IL&FS Mutual Fund on Wednesday said it has paid a little over Rs 600 crore to investors in its infrastructure debt fund.
The debt scheme -- IL&FS Infrastructure Debt Fund Series 1C-- was redeemed on due date on April 30, making it a timely redemption, according to a statement issued by IL&FS Group.
The scheme redeemed Rs 606 crore against the original invested capital of Rs 275 crore delivering a return of 8 per cent per annum to the investors since inception.
IL&FS Mutual Fund (IDF), which is amongst the largest infra debt funds in the mutual fund format, had successfully redeemed schemes on time in January 2023.
Total funds returned to the investors of the mutual fund over the past five years are Rs 1,580 crore.
IL&FS Infrastructure Debt Fund is managed by IL&FS Infra Asset Management Ltd. The target investors for the fund are banks, pension funds, insurance companies, foreign investors, sovereign wealth funds and bilateral or multilateral associations.
In ...
FPIs withdraw Rs 8,600 crore from equities in April on Mauritius tax treaty (01-05-2024)
After infusing money for two straight months, foreign investors turned net sellers in April with the dumping of Indian equities worth Rs 8,700 crore on concerns over a tweak in India's tax treaty with Mauritius and a sustained rise in US bond yields.
This came following a staggering net investment of Rs 35,098 crore in March and Rs 1,539 crore in February, data with the depositories showed. Overall, the total inflow for 2024 so far stood at Rs 2,222 crore in equities and Rs 44,908 crore in debt market.
As per the data, Foreign Portfolio Investors (FPIs) made a net outflow of Rs 8,671 crore in Indian equities.
Kislay Upadhyay, smallcase manager and founder of Fidelfolio, said this outflow was due to adjustment after heavy inflow in March, a short-term gain prospect in longer duration bond in anticipation of a rate cut and 'wait and watch mode adopted by investors till the announcement of election results.
While the tweak in India's tax treaty with Mauritius on investments made in .
Crypto washout sends Bitcoin below $58,000 ahead of Fed’s decision (01-05-2024)
The value of the world's most traded cryptocurrency fell by nearly 16% in April, as investors booked profits on a sizzling rally that has taken the price to record highs above $70,000
Blackstone-backed Aadhar Housing Finance’s Rs 3,000 cr IPO to open on May 8 (01-05-2024)
The initial share-sale will conclude on May 10 and the bidding for anchor investors will open for a day on May 7, according to the Red Herring Prospectus (RHP)
Sebi bans Manpasand Beverages, 3 top officials from market for 3 years (01-05-2024)
Markets regulator Sebi has barred Manpasand Beverages Ltd (MBL) and its three top officials from the securities markets for three years and imposed a penalty totalling Rs 68 lakh on them for manipulating and mis-stating the company's financial statement.
In its order, the regulator said that the financial statements of the company were manipulated and mis-stated for financial years 2018-19 and 2019-20.
Apart from Manpasand Beverages, those restrained by Sebi are -- the company's promoter, chairman & managing director (CMD) Dhirendra Singh, promoter and executive director Abhishek Singh and chief financial officer (CFO) Paresh Thakkar.
Also, these four entities have been fined Rs 17 lakh each, which needs to be paid within 45 days, Sebi said in its 55-page order passed on Tuesday.
Additionally, Dhirendra Singh, Abhishek Singh and Paresh Thakkar have been prohibited from holding position of director or key managerial personnel in any listed public company or any intermediary ...
Bitcoin slide: A cause for concern or a buying opportunity? (01-05-2024)
The cryptocurrency is down 14 per cent in April, the most since it slumped 16 per cent in November 2022
Sebi makes nominations optional for jointly-held mutual fund accounts (01-05-2024)
Capital markets regulator Sebi on Wednesday made the nomination optional for jointly-held mutual fund accounts in a bid to promote ease of doing business.
Additionally, Sebi allowed fund houses to have a single fund manager to oversee commodity and foreign investments. This would reduce the cost of managing the fund.
These came after a working group constituted by Sebi reviewed mutual fund regulations and recommended measures to promote the ease of doing business.
Based on the recommendation of the working group, a public consultation was carried out suggesting the option to make joint mutual fund account nominations optional and permitting fund houses to have a single fund manager to oversee commodity and foreign investments.
"Accordingly, it has been decided that the requirement of nomination ....for mutual funds shall be optional for jointly held mutual fund folios," the Securities and Exchange Board of India (Sebi) said in a circular.
Experts believe that the relaxation of ...
Gold price falls Rs 10 to Rs 72,590, silver falls Rs 100 to Rs 83,400 (01-05-2024)
The price of 22-carat gold also declined by Rs 10, with the yellow metal selling at Rs 66,540
Binance founder Changpeng Zhao sentenced to four months in prison (01-05-2024)
Zhao pleaded guilty in November for failing to implement an adequate money laundering program at Binance