Posts in category Business Standard
Sebi slaps fine of Rs 3 lakh on India Ratings and Research for lapses (01-12-2023)
Markets regulator Sebi has slapped a penalty of Rs 3 lakh on India Ratings and Research for certain lapses.
Sebi and the Reserve Bank of India conducted a joint inspection of the entity from August 22 to 29, 2022, and the period covered under the inspection was from August 1, 2021, to June 30, 2022.
In its order, Sebi said the inspection findings brought out two instances where the entity was not complying with the requirements of the regulator's circular.
The Securities and Exchange Board of India (Sebi) imposed the fine of Rs 3 lakh after taking into various mitigating factors, including that issuers and debenture trustees did not inform the rating agency about delay/ default on the payment of the NCDs (Non Convertible Debentures), investors were institutional investors and were adequately informed about the risks involved in the NCDs.
According to Sebi, there was a delay by the rating agency in recognition of a default done by Altico Capital India, and another instance was the .
Mutual funds keep the flow tap running for domestic equity market (01-12-2023)
Active equity schemes have raked in a net of Rs 1.3 trillion in the first 10 months of 2023, 17 per cent lower than the Rs 1.5 trillion net inflows recorded during the same period in 2022
Flair Writing Industries’ impressive debut marks end to busy listing week (01-12-2023)
Taking advantage of the bullish investor sentiment, five companies launched their maiden share sales last week to mop up a cumulative Rs 7,377 crore
SCORES: Sebi extends deadline for implementation of new norms till Apr 2024 (01-12-2023)
Markets regulator Sebi on Friday extended the deadline till April 1, 2024 for the implementation of the framework for handling complaints received through the SCORES platform for registered entities and for monitoring such grievances by designated bodies.
The guidelines were come into force from December 4.
The designated bodies are required to apply for SCORES authentication and/or for Application Programming Interface (API) integration with SCORES within a specified time period.
"It has been decided to extend the effective date of implementation of the provisions to April 1, 2024," the Securities and Exchange Board of India said in a circular.
In September, Sebi came out with a circular with respect to handling complaints received through SCORES platform for registered entities and for monitoring such grievances by designated bodies.
Under the guidelines, all entities, including companies, that received complaints of investors through SCORES, will have to resolve them within 21
Nifty50 scales fresh peak on GDP boost; Sensex ends 493 points higher (01-12-2023)
Benchmark indices log the best week in 5 months
BSE-listed firms’ market valuation touch record high of Rs 337.67 trillion (01-12-2023)
The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 337.67 lakh crore (USD 4 trillion) on Friday amid a rally in equities, mainly on account of favourable macroeconomic data and continuous foreign fund inflows.
Rising for the fourth straight day, the 30-share BSE Sensex jumped 492.75 points or 0.74 per cent to settle at 67,481.19 points. During the day, it rallied 575.89 points or 0.85 per cent to 67,564.33 points.
In four days, the benchmark index has surged 1,511.15 points or 2.29 per cent.
Amid the optimistic trend in equities, the market capitalisation of BSE-listed firms soared to Rs 337.67 lakh crore, translating to USD 4 trillion at the exchange rate of 83.30.
In four days of the market rally, investors' wealth have gone up by Rs 8.95 lakh crore.
The combined market valuation of all listed companies on the BSE reached the USD 4 trillion-milestone for the first time ever on Wednesday.
The 30-share benchmark hit its all-time peak of 67,927.2
Satyam Computer case: Sebi lowers disgorgement amount to Rs 622 crore (01-12-2023)
In February, the Securities Appellate Tribunal (SAT) had remanded the matter back to Sebi, directing it to recalculate the unlawful gains and reconsider the ban on the promoters
Megastar Foods plans to raise Rs 42 cr through preferential issue of shares (01-12-2023)
Food processing firm Megastar Foods Ltd plans to raise Rs 42.38 crore through the issue of preferential shares to pre-pay debt and meet future requirements of funds.
The company's board approved to create, issue, offer and allot up to 13 lakh shares of Rs 10 each on a preferential basis to the promoters/non-promoters/public category shareholders of the company, according to a regulatory filing on Thursday.
The company would seek the approval of the shareholders at the extra ordinary general meeting.
"The proceeds of the preferential issue will be utilised for prepayment of borrowings of the company, meeting future funding requirements, working capital and other general corporate purposes of the company," the filing said.
The equity shares under this preferential issue would be made at an issue price of Rs 326 per equity share. The company intends to raise Rs 42.38 crore through this issue. Megastar Foods has a wheat processing plant in Punjab. Its turnover stood at Rs 304.40 crore
BOJ survey highlights strong bond market strains from ultra-easy policy (01-12-2023)
Former Governor Haruhiko Kuroda deployed QQE in April 2013, aiming to shock the public out of a deflationary mindset with heavy money printing, and fire up inflation to the bank's 2% target
IIFL Samasta to raise Rs 1,000 cr via bonds, offers 10.50% return per annum (01-12-2023)
IIFL Samasta Finance on Friday said it plans to raise up to Rs 1,000 crore through its maiden public issue of non convertible debentures (NCDs), for the purpose of business growth and capital augmentation.
The non-banking microfinance companies (NBFC-MFI) will issue bonds, aggregating to Rs 200 crore, with a green shoe option to retain over-subscription of up to Rs 800 crore (aggregating to a total of Rs 1,000 crore).
The bonds, which opens for subscription on Monday, proposes to offer highest coupon rate of 10.50 per cent per annum for tenor of 60 months.
NCD is available in tenors of 24 months, 36 months and 60 months. The frequency of interest payment is available on monthly and annual basis for each of the series.
The company caters to the credit needs of underserved and unserved population, primarily women entrepreneurs from underprivileged background through a well-diversified portfolio through a network of 1,500 branches, IIFL Samasta Finance MD and CEO Venkatesh N said.
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