Posts in category Business Standard
LIC front-running case: Sebi confirms securities market ban on 5 companies (19-03-2024)
Sebi on Tuesday confirmed a securities market ban on five entities, including an employee of Life Insurance Corporation of India (LIC), in a case pertaining to front-running trades of the state-owned insurer.
Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information has been made available to its clients.
The observations made in the present order are tentative in nature and pending further investigation. The investigation will be carried out without being influenced by any of the directions passed or any observation made either in the interim order or in the present order.
Based on the outcome of the investigation, appropriate proceedings may be initiated in accordance with law, Sebi said.
In a confirmatory order, Sebi clarified that the restraint imposed vide the interim order dated April 27, 2023, on Yogesh Garg, Sarita Garg, Kamlesh Agarwal, Ved Prakash HUF and Sarita Garg
Cryptoverse: Artificial intelligence tokens outpace record-breaking bitcoin (19-03-2024)
Coins linked to AI-focused crypto projects have jumped alongside tech stocks like Nvidia, driven by insatiable investor appetite for applications like machine-learning
Sebi moots audio-visual representation of disclosures made in offer docs (19-03-2024)
Markets watchdog Sebi on Tuesday proposed introducing audio-visual representation of disclosures made by companies in their offer documents for public issues, a move that will help investors have an easier understanding about the key features of an offer.
Comments from stakeholders have been sought on the proposal till April 9.
"It is proposed that the disclosures made in the DRHP (Draft Red Herring Prospectus) and RHP (Red Herring Prospectus) of public issues shall also be made available in Audio Visual (AV) format by the issuer companies desiring to list on the main board.
"Further, the AV on the public issues will be in bilingual version i.e. English and Hindi and made available in the public domain," Sebi said in a circular.
According to the regulator, it is expected that the AV will provide ease in understanding the salient features and also provide reference to various disclosures of the proposed public issue.
The regulator has suggested that the duration of each bilingual .
Smallcap stocks unlikely to enter the bear market soon, shows data (19-03-2024)
Amid the turmoil in the smallcap space, ISec believes stocks with high earnings yield and price/earnings-to-growth (PEG) ratio would offer better margin of safety
Yield on state government securities rises on record supply, shows data (19-03-2024)
Next week, states will participate in the final auction for the current financial year and as per the indicative calendar, they are expected to raise Rs 29,399 crore from the market
ICICI Prudential mutual fund buys Star Health’s shares for Rs 193 crore (19-03-2024)
ICICI Prudential Mutual Fund on Tuesday bought shares of Star Health and Allied Insurance Company for Rs 193 crore through an open market transaction.
According to the bulk deal data available with the National Stock Exchange (NSE), ICICI Prudential Mutual Fund purchased 35,74,074 shares, amounting to a 0.61 per cent stake in Star Health and Allied Insurance Company.
The shares were acquired at an average price of Rs 540 apiece, taking the transaction value to Rs 192.99 crore.
Details of the seller(s) could not be ascertained.
On Tuesday, shares of Star Health and Allied Insurance Company fell 1.42 per cent to close at Rs 545.05 apiece on the NSE.
In a separate bulk deal on the BSE, Abakkus Asset Manager LLP picked up shares of rice milling company LT Foods for Rs 55 crore through an open market transaction.
According to the bulk deal data available with the BSE, Abakkus Asset Manager bought 33.93 lakh shares at an average price of Rs 162.04 apiece.
This took the deal value to R
Debt fund managers go bullish on G-Sec post global index inclusion (19-03-2024)
As of February-end, most of the dynamic bond funds were heavily invested into government securities
Stocks feel fresh jitters, slip to five-week lows; Sensex falls 736 points (19-03-2024)
Losses in IT stocks and nervousness ahead of Fed rate decision pulls market down
Bankrupt crypto lender Genesis to pay $21 million to settle SEC charges (19-03-2024)
The deal resolves January 2023 charges the SEC filed against Genesis and Gemini Trust Company LLC over their joint crypto lending program
EaseMyTrip.com partners with Zoomcar (19-03-2024)
For offering Indian travellers pre-booked and on-demand self drive cars