Posts in category Business Standard
Nifty Auto bearish in near term, Energy rangebound; check trading strategy (21-06-2024)
The Nifty Auto Index is currently trading at 25,267.85. The near-term trend for this index appears to be downward on the charts, with strong support expected around the 24,500 level
Nifty Auto bearish in near-term, Energy rangebound; check trading strategy (21-06-2024)
The Nifty Auto Index is currently trading at 25,267.85. The near-term trend for this index appears to be downward on the charts, with strong support expected around the 24,500 level
Nandish Shah of HDFC Securities recommends Bull Spread on Bank Nifty (21-06-2024)
Long build up is seen in the Bank Nifty Futures, where Open Interest rose by 7 per cent(Prov) with Nifty rising by 0.75 per cent
Nandish Shah of HDFC Securities recommends Bull Spread on Bank Nifty (21-06-2024)
Long build up is seen in the Bank Nifty Futures, where Open Interest rose by 7 per cent(Prov) with Nifty rising by 0.75 per cent
General Atlantic, Asia Opportunities sell 4.9% stake in PNB Housing Fin (20-06-2024)
Foreign investors General Atlantic and Asia Opportunities V (Mauritius) on Thursday sold a 4.9 per cent stake in PNB Housing Finance for Rs 1,004 crore through open market transactions.
US-based private equity firm General Atlantic through its affiliate General Atlantic Singapore Fund FII Pte offloaded PNB Housing Finance shares through a bulk deal on the National Stock Exchange (NSE).
More than 1.27 crore shares or a 4.9 per cent stake in PNB Housing Fin were disposed of by both entities.
As per the data available, General Atlantic Singapore Fund FII and Asia Opportunities sold 63.79 lakh shares each, amounting to a 4.9 per cent stake in the public sector housing finance company.
The shares were offloaded in the range of Rs 786.46-787.88 apiece, taking the combined transaction value to Rs 1,004.28 crore.
After the stake sale, the shareholding of Asia Opportunities V (Mauritius) in PNB Housing Finance has declined to 7.43 per cent from 9.88 per cent.
The stake of General Atlantic
CoinEx Launches P2P Service, Recruiting More Merchants Worldwide to Build P2P Ecosystem (20-06-2024)
New Delhi [India], June 20: Recently, CoinEx, a leading global cryptocurrency trading platform, announced the official launch of its P2P (peer-to-peer) trading service. This signifies a new step in CoinEx's journey towards providing diversified trading services. The introduction of P2P services not only offers users a more convenient fiat on-ramp and off-ramp but also provides new opportunities for global P2P merchants to join and expand their businesses. This article will provide a detailed overview of the features of CoinEx's P2P service, the exclusive advantages for P2P merchants joining CoinEx, and why global P2P merchants should consider CoinEx as a partner can reach email pr@coinex.com for India -india@coinex.com
Sebi confirms bans JM Financial from managing debt public issues till March (20-06-2024)
Markets regulator Sebi on Thursday confirmed the interim directions to bar JM Financial Ltd from acting as a lead manager for public issues of debt securities until March 31, 2025, in a case of alleged irregularities in a public issue of non-convertible debentures (NCDs).
The regulator, in a confirmatory order, clarified that the restriction only applies to public issues of debt securities and does not affect JM Financial Ltd (JMFL) other activities, including equity issues.
In its interim order issued on March 7, Sebi barred JMFL from taking new mandates as a lead manager for public issues of debt securities due to potential irregularities in a public issue of non-convertible debentures (NCDs).
JMFL, as a lead manager, had allegedly irregular practices involving retail investors and associated companies within the JM Group.
Sebi, prima facie, found that JM Group entities appeared to incentivise investors to apply for securities in issues managed by JMFL.
It noted that significant
Sebi issues guidelines for system audit of professional clearing members (20-06-2024)
Markets regulator Sebi on Thursday put in place the framework for system audit of professional clearing members (PCMs), directing them to submit information with regard to major and minor non-compliances in such system.
The framework will come into force with immediate effect and the first audit will be conducted for FY24, Securities and Exchange Board of India (Sebi) said in a circular.
All clearing corporations (CCs) have been directed to jointly establish a uniform penalty structure for PCMs to ensure timely submission of system audit reports and closure of audit observations.
In its circular, Sebi said the audit of PCMs will be conducted according to the norms, terms of reference (TOR) and guidelines issued by Sebi or clearing corporations (CCs).
They will select the auditors based on the prescribed auditor selection norms and TOR and the governing board of the PCMs will approve the appointment of the auditors.
An auditor can perform a maximum of three successive audits.
Howe
Sebi issues norms for contribution to LPCC’s core settlement guarantee fund (20-06-2024)
Markets regulator Sebi on Thursday came out with fresh guidelines pertaining to the contributions by various entities towards core
settlement guarantee fund of Limited Purpose Clearing Corporation (LPCC).
A core settlement guarantee fund (SGF) is a corpus used for settlement of trades during defaults and all intermediaries -- stock exchanges, clearing corporations and brokers -- contribute towards it.
LPCC is an entity established to undertake the activity of clearing and settlement of repo transactions. A well-functioning repo market contributes to the development of the debt securities market by way of boosting liquidity.
In its circular, Sebi said that the contribution of participants, who desire direct participation and not through a clearing member to core SGF, is risk-based and equivalent to a deficit in minimum required corpus (MRC) post contribution by issuers and clearing members.
Such contributions by participants should be subject to certain conditions. These include ..
Dee Development Engineers IPO subscribed 8.99 times on Day 2 of offer (20-06-2024)
The initial public offer of piping solutions provider DEE Development Engineers got subscribed 8.99 times on the second day of subscription on Thursday.
The Rs 418 crore initial share sale received bids for 13,42,84,887 shares against 1,49,44,944 shares on offer, as per NSE data.
The portion for non-institutional investors got subscribed 21.71 times while the category for Retail Individual Investors received 8.41 times subscription. The Qualified Institutional Buyers (QIBs) part got subscribed 16 per cent.
The Initial Public Offer (IPO) has a fresh issue of up to Rs 325 crore and an offer for sale of up to 45,82,000 equity shares.
The price range for the offer is fixed at Rs 193-203 per share.
Dee Development Engineers Ltd on Tuesday said it has mobilised a little over Rs 125 crore from anchor investors.
Of the Rs 325 crore fresh issue proceeds, Rs 175 crore will be used for payment of debt, Rs 75 crore for funding working capital requirements, and the remaining Rs 75 crore will