Last week, China’s interbank watchdog said it would investigate four rural commercial banks for suspected bond market manipulation
Posts in category Business Standard
Investment advisers, analysts must disclose AI tool usage to clients: Sebi (15-08-2024)
Sebi has proposed that registered Investment Advisers and Research Analysts who employ artificial intelligence (AI) tools in their services must disclose the extent of usage to clients, emphasizing the importance of strong security measures to avoid unintended data exposure.
This transparency is crucial for clients to understand how AI tools contribute to their investment decisions and to make informed choices about their advisory services.
“The possibility of unintended data exposure highlights the need for strong security measures and clear disclosure to clients about the extent of AI tool usage”, Trivesh D, COO at Tradejini, a stock trading platform, told PTI.
The Securities and Exchange Board of India (Sebi), in its consultation paper earlier this month, highlighted the growing usage of AI tools in Investment Adviser (IA) and Research Analyst (RA) services.
With technological innovations and advancements, many AI tools are currently available in chatbot form such as OpenAI’s ..
Gold imports dip 4.23% to $12.64 bn in Apr-Jul over global uncertainities (15-08-2024)
India’s gold imports, which have a bearing on the country’s current account deficit (CAD), dipped by 4.23 per cent to USD 12.64 billion during April-July 2024-25 due to global economic uncertainties, according to government data.
The imports stood at USD 13.2 billion in April-July 2023.
In July alone, the imports declined by 10.65 per cent to USD 3.13 billion as against USD 3.5 billion in the same month last year. The inbound shipments were also in negative during June (-38.66 per cent) and May (-9.76 per cent).
In April, the imports jumped to USD 3.11 billion from one billion in April 2023.
According to a jeweller, the high prices are discouraging the imports but it will go up from September as festive season will start in India and the import duty cut benefit is also there.
The government has slashed the customs duty on gold and silver to 6 per cent from 15 per cent.
Gold prices rose Rs 300 to Rs 73,150 per 10 grams in the national capital on August 14 amid a jump in precious m
Realty firm Kalpataru Ltd files draft papers to raise Rs 1,590 cr via IPO (15-08-2024)
Real estate firm Kalpataru Ltd has filed draft prospectus with market regulator SEBI to launch its initial public offering (IPO) for raising up to Rs 1,590 crore, mainly to reduce debt.
The Mumbai-based company has filed the draft red herring prospectus (DRHP) to launch its IPO, which comprises fresh issue of shares, having face value of Rs 10 each, aggregating up to Rs 1,590 crore.
It would use Rs 1,192.5 crore for repayment/prepayment, in full or in part, of certain borrowings.
“We are an integrated real estate development company involved in all key activities associated with real estate development, including the identification and acquisition of land (or development rights thereto), planning, designing, execution, sales, and marketing of our projects,” the DRHP said.
The company has a portfolio of 40 ongoing, forthcoming and planned projects comprising 49.77 million square feet area. Of these 25 projects having 22 million square feet are currently underway.
While a majority o
Indian investors value sustainability, struggle to get good data: Deloitte (15-08-2024)
More than 90 per cent of Indian institutional investors now consider sustainability information essential in their due diligence process, a study by Deloitte and The Fletcher School at Tufts University said, adding as sustainability becomes more integral to investment management, trust in the ESG data used to inform these decisions is lacking, posing challenges in accessing trustworthy data.
“According to Indian investors, the inconsistency or incomparability of ESG rating data (73 per cent), cost constraints on integrating ESG data into investment decision models (71 per cent) and lack of measurable outcomes in corporate disclosures (70 per cent) reduce the trust factor of available sustainability data, inhibiting their ability to implement ESG investment strategies,” Deloitte said citing its study titled ‘Investor trust in sustainability data’.
The study further highlights that Indian investors are more likely to trust in-house proprietary data systems and audited (or assured) …
Stock Markets closed on Independence Day 2024; trading to resume on Aug 16 (15-08-2024)
Other stock market holidays for the year include Gandhi Jayanti on Oct 2, Diwali on Nov 1, Guru Nanak Jayanti on Nov 15, and Christmas on Dec 25
Gold price dips Rs 10 to Rs 71,500, silver rises Rs 100 to Rs 83,700 (15-08-2024)
The price of 22-carat gold declined Rs 10, with ten grams of the yellow metal selling at Rs 65,540
Charticle: Mutual funds continue to lap up banking shares in July (14-08-2024)
The investment is the aggregate of total net deployment by active equity, passive and equity-oriented hybrid schemes
Diversified presence, order book to sustain gains for Samvardhana Motherson (14-08-2024)
While the performance was steady and in line with expectations, most of the revenue growth for the quarter came from acquisitions
Piramal Enterprises shares tank over 10% after weak Q1 performance (14-08-2024)
PEL’s share prices ended at Rs 881.35 today, down 10.59 per cent on the BSE