Posts in category Business Standard
Sebi orders to attach bank, demat accounts of ex-officials of Karvy Group (17-11-2023)
Sebi has ordered the attachment of bank and demat accounts of Karvy Group's three former officials to recover Rs 1.80 crore for the misappropriation of client's funds by Karvy Stock Broking Ltd (KSBL).
The recovery proceedings against KSBL's former VP (finance and accounts) Krishna Hari G; KSBL's former compliance officer Srikrishna Gurazada; KSBL's General Manager of back office operation Srinivasa Raju for Rs 1.80 crore, includes interest, all costs, charges and expenses, Sebi said in three attachment orders on Tuesday.
In its notices, Sebi asked all banks, depositories, and mutual funds not to allow any debit from the accounts of Krishna Hari G, Srikrishna Gurazada and Srinivasa Raju. However, credits have been permitted.
Further, the market regulator has directed all the banks to attach all accounts, including lockers, of the defaulters.
Last month, Sebi sent demand notices to -- Krishna Hari G, Srikrishna Gurazada and Srinivasa Raju -- asking them to pay about Rs 1.8 crore in
Financial stocks feel the pinch of RBI loan stance; Sensex falls 188 points (17-11-2023)
Sensex, Nifty decline intraday but finish with gains for a third week in a row
Sebi eases rule for physical securities’ holders without PAN, KYC details (17-11-2023)
Capital markets regulator Sebi on Friday decided to do away with the provision of requiring the freezing of folios without PAN, KYC details and nomination for all holders of physical securities.
The move, aimed at simplifying the rule, will come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said in a circular.
The decision has been taken after receiving feedback from the Registrars' Association of India and investors.
Under the rule, it was mandatory for all holders of physical securities in listed companies to furnish PAN, nomination, contact details, bank account details and specimen signature for their corresponding folio numbers.
The folios wherein any one of such documents are not available on or after October 1, 2023, is required to be frozen by the Registrars to an Issue and Share Transfer Agents (RTA), Sebi said in May.
Amending the circular issued in May, Sebi said that reference to the term 'freezing/ frozen' has been deleted.
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Indian buyers brush off record rates to load up on gold for Diwali (17-11-2023)
Local gold prices were trading around Rs 60,900 ($731.81) per 10 grams on Friday after hitting an all-time high of Rs 61,914 ($744.00)this week
Multi-asset funds offer considerable relief in the choppy waters (17-11-2023)
Another expert termed Nippon India Multi Asset Fund as an example of a true multi-asset fund, saying this fund believes in classical asset allocation
Fedfina announces Rs 1,092 cr IPO; sees no impact of RBI norms on issue (17-11-2023)
Fedbank Financial Services (Fedfina) on Friday said it plans to raise up to Rs 1,092-crore through an initial public offering opening on November 22.
The Reserve Bank's circular increasing the risk weights on unsecured lending will increase the borrowing costs, but the negative market sentiment will not impact the offering, Managing Director and Chief Executive Officer Anil Kothuri told reporters here.
Fedfina, a subsidiary of south-based Federal Bank, has set a price band of Rs 133-140 per share for the issue which comes amid a raft of other issuances before the holiday season and the next year's general elections. The issue will open for three days starting November 22.
The offer consists of fresh issue of Rs 600 crore, while the rest is offer for sale under which existing shareholders, including Federal Bank and homegrown private equity fund True North are exiting.
Kothuri said that post issue, Federal Bank's overall holding will come down to 61 per cent from the present 73 per
Rail stocks in demand: Titagarh, IRCON, RailTel, RVNL rally up to 19% (17-11-2023)
The Indian Rail Freight Industry is experiencing significant growth and improvements, with ambitious plans and increased investment aimed at enhancing capacity, efficiency, and sustainability
Flair Writing IPO to open on Nov 22; sets price band at Rs 288-304/share (17-11-2023)
Pen maker Flair Writing Industries Ltd has set a price band of Rs 288-304 a share for its Rs 593-crore initial public offering (IPO), market sources said on Friday.
The maiden public issue will open for subscription on November 22 and conclude on November 24 and the anchor book of the offer will be opened for a day on November 21, they added.
As per the red herring prospectus (RHP), Flair Writing's IPO comprises a fresh issue of equity shares aggregating up to Rs 292 crore and an offer-for-sale (OFS) of equity shares worth up to Rs 301 crore by promoters and promoter group entities.
At present, promoters and promoter group entities own 100 per cent stake in the company.
Proceeds of the fresh issue will be used for setting up a manufacturing facility for writing instruments at Valsad district in Gujarat; funding the company's capital expenditure and subsidiary Flair Writing Equipments Pvt Ltd (FWEPL).
Besides, the proceeds will be used to support the working capital requirements of
JSW Infra soars 8% on Rs 4,119-cr project win from Karnataka government (17-11-2023)
The stock hit a new high of Rs 220, and was quoting 85 per cent higher against its issue price
Mark Mobius joins hedge fund elite planning Dubai investing venture (17-11-2023)
The 87-year-old money manager said he's busier than ever as he looks to set up a new venture in Dubai