Posts in category Business Standard
Sebi extends time for investment advisers to comply with qualification rule (11-10-2023)
Capital markets regulator Sebi on Wednesday extended the timeline by two years till September 2025 for compliance with enhanced qualification and experience requirements for investment advisers.
At present, individual investment advisers, principal officers of non-individual investment advisers, and persons with investment advisers and associated with the work, were required to comply with enhanced qualification and experience requirements by September 30, 2023.
"Based on representations received from various stakeholders and in view of the emerging landscape of the domain of investment advice... it is now specified that the timeline to comply with the enhanced qualification and experience requirements.. is extended to September 30, 2025," Sebi said on a circular.
BSE Administration & Supervision Ltd (BASL), a wholly-owned subsidiary of BSE, has been directed to bring the provisions of this circular to the notice of its members and also disseminate the same on its website.
The ...
IRM Energy IPO to open on Oct 18, sets price band at Rs 480-505 per share (11-10-2023)
IRM Energy on Wednesday announced a price band of Rs 480-505 per share for its initial public offering that will open for subscription on October 18.
The Initial Public Offering (IPO), through which the company aims to raise up to Rs 545 crore, will close on October 20.
It has a fresh issue of up to 1.08 crore equity shares.
Karan Kaushal, the chief executive of the company, said, it plans to use about Rs 307.26 crore from the issue proceeds for funding capital expenditure requirements for developing the city gas distribution network in Namakkal and Tiruchirappalli in Tamil Nadu in the coming years.
He also said that Rs 135 crore would be used for prepayment or repayment of some of the outstanding borrowings of the company and for general corporate purposes.
The company will mobilise Rs 518.4 crore and Rs 545.4 crore at the lower and upper end of the price band, respectively.
The offer also includes reservation for subscription by eligible employees, and a discount of Rs 48 per
Inclination towards small-cap must be seen with risks linked: Sebi WTM (11-10-2023)
The Sebi whole-time member also asked the MF industry to keep robust checks on its commissions for distributors to avoid a perverse incentive system or malpractices and missellings
Equity mutual fund inflows moderate on smallcap, midcap redemptions (11-10-2023)
Net inflows stood at Rs 14,090 crore on strong SIP flows in September
Kotak Mahindra Bank bets big on SMEs, mid-market segments in South (11-10-2023)
Currently, the bank's SME and mid-market portfolio forms 27 per cent of its entire wholesale banking book
After RBI bans Bob World, Bank of Baroda shares decline around 3% (11-10-2023)
Shares of state-owned lender Bank of Baroda declined more than 3 per cent on Wednesday.
On Tuesday, the Reserve Bank of India barred the Bank of Baroda from onboarding new customers on its mobile app 'Bob World' following material supervisory concerns.
The action taken by the central bank is based on certain material supervisory concerns observed in the manner of onboarding customers onto its mobile application.
In late morning trade, shares of Bank of Baroda declined 3.10 per cent to Rs 207.55 apiece and plunged further to Rs 207.20 apiece, registering a 3.27 per cent fall during the day on the BSE.
On the NSE, the stock of the company dived 2.96 per cent to Rs 207.95 per piece and went lower by 3.22 per cent to close at Rs 207.40 per scrip.
In the volume terms, 12.69 lakh equity shares were traded on the BSE, while 4.30 crore shares were on the NSE, during the day.
The 30-share BSE Sensex rose 393.69 points to close at 66,473.05, while NSE Nifty gained 121.50 points to settle a
Equity markets extend gains as oil prices, interest rate concerns ease (11-10-2023)
Brent crude prices dipped to just below $89 per barrel on the same day
Shreyas Shipping opens delisting bid at Rs 400 a share, to close on Oct 17 (11-10-2023)
Shreyas Shipping on Wednesday resumed its delisting offer at a counter offer price of Rs 400 per share and the offer will close on October 17.
This is the second attempt at delisting after the company's shareholders had tendered shares at a price of Rs 890 per share as against the revised offer of Rs 375 apiece. The revised price was higher compared to the original price of Rs 338 per share announced early last month.
Subsequently, the tendering was cancelled and the company decided to make a counter offer.
As part of the delisting process, the counter offer bidding period for public shareholders of Shreyas Shipping at Rs 400 per share will start from October 11 and close on October 17, the parent company Transworld Holdings said in a note.
The share price of the company was Rs 262 per share on May 19 (pre-delisting announcement) and the counter offer price is at a 52.7 per cent premium to the pre-announcement price.
On a 60-day weighted average price, the floor price was Rs 292 a
Indian shares extend gains as US rate woes ease, TCS results eyed (11-10-2023)
The NSE Nifty 50 index settled 0.62% higher at 19,811.35, while the S&P BSE Sensex rose 0.60% to 66,473.05
HCLTech Q2 preview: ASAP deal to aid revenue growth; guidance revision eyed (11-10-2023)
HCL Tech Q2FY24 results preview: HCL Tech may post a 7 per cent yearly profit growth to Rs 3,739 crore, as per an average of six brokerage estimates, while revenue is pegged to rise 8.8 per cent YoY