Posts in category Business Standard
Nifty Fin Svcs eyes breakout, PSU Banks attractive on dips; key levels here (09-07-2024)
The Nifty Financial Services Index is currently trading at 23,586.75 and is showing a range-bound pattern on the charts
Hind Copper, Siemens: Top picks by Jatin Gedia of ShareKhan for July 9 (09-07-2024)
Hindustan Copper was trading in a downward sloping channel and has now provided a breakout
With $441 mn, Crypto funds witness inflows for first time in a month (08-07-2024)
Crypto digital asset products saw inflows totaling $441 million in the week ended July 5, CoinShares International Ltd. data show, a significant rebound from the $39 million in outflows the week prior
RBI cancels registration for 2 NBFCs, cites irregular lending practices (08-07-2024)
The Reserve Bank on Monday said it has cancelled the certificates of registration of two NBFCs -- Star Finserv India and Polytex India -- due to irregular lending practices.
Hyderabad-based Star Finserv India was offering the service under 'Progcap' (owned and operated by Desiderata Impact Ventures Private Limited).
Polytex India, headquartered in Mumbai, was providing services under the 'Z2P' mobile application (owned and operated by Zaitech Technologies Private Limited).
Giving reasons for cancelling the Certificate of Registration (CoR) of Star Finserv, RBI said the company has violated guidelines on the code of conduct in outsourcing financial services in its digital lending operations by outsourcing its core decision-making functions, such as credit appraisal, loan sanctioning as well as KYC verification process to the service provider.
Star Finserv has violated RBI guidelines on data confidentiality and security of customer information by providing complete access to customer
Sebi puts SK Finance’s Rs 2,200 cr IPO in abeyance, no reasons disclosed (08-07-2024)
Jaipur-based lender had filed its preliminary papers with the capital markets regulator in May this year
H1CY24 scorecard: Nippon India Mutual Fund grows fastest among top 10 (08-07-2024)
HDFC and ICICI Prudential were the other two fund houses in the top 10 that registered over 20 per cent growth during the same period
Mutual Funds ride high: NFOs pick up on market rally and economic hope (08-07-2024)
29 launches since June 1, nearly half of previous five months' total
Investors subscribe Ambey Laboratories IPO over 173.18 times offer size (08-07-2024)
The initial public offering (IPO) of Ambey Laboratories received more than 173.18 times subscription on the final day of the offer on Monday amid encouraging participation from institutional investors.
The initial share sale received bids for 69,99,86,000 shares against 40,42,001 shares on offer, as per NSE SME data.
The category for non-institutional investors received 324.22 times while the Retail Individual Investors (RIIs) quota was subscribed 195.06 times, and the portion meant for Qualified Institutional Buyers (QIBs) received 61.90 times subscription.
The company had fixed a price band for the IPO at Rs 65-68 per share.
The Rs 44.68 crore IPO is a combination of a fresh issue of 62.58 lakh shares aggregating to Rs 42.55 crore and an offer for sale of 3.12 lakh shares aggregating to Rs 2.12 crore.
The net proceeds from the issue will be used by the company to meet the working capital requirements of the business, while the remaining capital will be used for general corporate
Gold prices take a breather after sharp rally fuelled by US jobs data (08-07-2024)
Spot gold fell 0.6% to $2,377.38 per ounce as of 10:34 a.m. ET (1434 GMT), after rising to its highest level since May 22 on Friday. U.S. gold futures slipped 0.5% to $2,385.20
Trading activities suspended after fire at Pakistan Stock Exchange (08-07-2024)
Hassan Khan informed that the fire initially broke out on the fourth floor of the Ali Habib Trading Company building on I I Chundrigar Road