Posts in category Business Standard
BSE likely to shell out more as regulatory fee on options volume (26-04-2024)
The market regulator on Friday directed the exchange to pay regulatory fee on 'notional value' of annual turnover
Four entities pay Rs 3 crore to settle front running trade case with Sebi (26-04-2024)
Four entities, including Maxgrow Fintrade, have settled with markets regulator Sebi a case concerning the suspected front-running of trades by paying nearly Rs 3 crore towards settlement charges and agreeing to comply with other conditions.
The other three entities that settled the case with the Securities and Exchange Board of India (Sebi) are Bhavin Pankaj Doshi, Nitesh Kumar Jain and Atish Shah.
Apart from the settlement amount, the Sebi's committee formulated other conditions to settle the case. These included disgorgement of 'unlawful gain' of Rs 85.12 lakh to be paid jointly and severally along with voluntary debarment for a period of six months from the securities market by each applicant.
The order came after entities filed an application with Sebi in May 2023 proposing to settle the suspected front-running activities by Maxgrow Fintrade and Bhavin Pankaj Doshi case through a settlement order "without admitting or denying the findings of fact".
"It is hereby ordered that th
Board of Aditya Birla Sun Life AMC accepts resignation of KMP and SMP (26-04-2024)
At meeting held on 26 April 2024
Jubilant Foodworks receives credit ratings from India Ratings and Research (26-04-2024)
Term Loan (Rs 200 crore) - IND AA+/Stable (Affirmed)
Proposed workinq Capital limit (Rs 100 crore) - IND AA+/Stable/ IND A 1 + (Affirmed)
Term Loan (Rs 110 crore) - IND AA+/Stable (Assiqned)
Proposed working capital limit (Rs 140 crore) - IND AA+/Stable/IND A1+ (Assiqned)
State Bank of India selects HCLSoftware for its digital transformation program (26-04-2024)
As part of the five-year agreement, HCLSoftware will deploy the HCL Unica platform to enable SBI to digitally transform its customer interaction framework and provide hyper-personalized communication across the bank's diverse digital marketing channels, while adhering to the Digital Personal Data Protection Act (DPDPA) and other
stringent security requirements.
Front running case: Sebi bans 8 cos; impounds ‘unlawful gain’ of Rs 1.3 cr (26-04-2024)
Markets regulator Sebi on Friday barred eight entities from the securities markets and impounded "unlawful gains" of Rs 1.3 crore earned by them from front-running activities.
The eight entities are Ashok Maheshwari, Darshan Bakul Shah, Khusboo Darshan Shah, Darshan Bakul Shah (HUF), Benzer Department Stores Pvt Ltd, CHL Stock Concepts Pvt Ltd, Chirag Mahendra Shah, and Mihir Dhirajalal Savla.
Front-running refers to an illegal practice in the stock market where an entity trades based on advance information from a broker or analyst before the information has been made available to its clients.
Ashok Maheshwari was one of the dealers of stock broker ABC Securities Ltd, and was responsible for placing trading orders for the Big Client, which was engaged in the business of portfolio management services.
In its 77-page order, Sebi found that Ashok Maheshwari was instrumental in supplying the information about the impending trades of the Big Client to Darshan Bakul Shah and such ...
HCL Technologies consolidated net profit rises 0.08% in the March 2024 quarter (26-04-2024)
Sales rise 7.11% to Rs 28499.00 crore
Spright Agro reports standalone net profit of Rs 5.78 crore in the March 2024 quarter (26-04-2024)
Sales rise 1907.34% to Rs 43.76 crore
Shree Digvijay Cement Co. consolidated net profit rises 29.88% in the March 2024 quarter (26-04-2024)
Sales rise 14.94% to Rs 224.36 crore
Indiabulls Real Estate reports consolidated net loss of Rs 302.02 crore in the March 2024 quarter (26-04-2024)
Sales decline 80.56% to Rs 21.02 crore