Posts in category Business Standard
Sharepro Services case: Sebi slaps Rs 33 cr fine on 13 individuals (28-10-2023)
Capital markets regulator Sebi has slapped fines totalling Rs 33 crore on 13 individuals, including senior officials of Sharepro Services (I) Pvt Ltd for flouting regulatory norms.
The regulator levied fines in the range of Rs 1 lakh to Rs 15 crore on 13 individuals, including Rs 15.08 crore on Indira Karkera (Vice President and client manager for a number of client companies of Sharepro), and Rs 5.16 crore on Govind Raj Rao (Managing Director of Sharepro).
Apart from senior officials, Sebi also penalised Balram Mukherjee, Pradeep Rathod, Shrikant Bhalakia, Anil Jathan, Chetan Shah, Sujitkumar Amarnath Gupta, Bhavani Jathan, Anand S Bhalakia, Dayanand Jathan, Mohit Karkera and Rajesh Bhagat. These individuals are referred to as noticees.
In its 200-page order, Sebi found that securities at least worth Rs 60.45 crore (on the basis of the value of respective scrip in October 2016) and dividends worth Rs 1.41 crore of genuine shareholders were misappropriated in the fraud.
Further, ..
Crypto unicorn CoinDCX expects govt to lower tax that crushed trading (28-10-2023)
The company reduced staff by 12% earlier in 2023 and now has around 550 employees. Operating revenue and cash in the bank give CoinDCX a five-year "runway," Gupta said
Weekend Bites: Bears rule, biggies declare results, feeble campus hiring (28-10-2023)
In which we munch over the week's platter of news and views
Exchanges announce Muhurat Trading session; Blue Jet IPO subscribed 8x (27-10-2023)
Blue Jet's IPO comprises only secondary share sale worth Rs 840 crore
FTSE 100 closes 0.9% lower, logs weekly loss as lacklustre results weigh (27-10-2023)
The banks index shed 2.3% and ended the week 5.4% lower.
Sebi’s instant trade settlement plan faces foreign investor pushback (27-10-2023)
The concerns were raised in a meeting earlier this month, the people told Reuters, and have not been previously reported
Diwali Muhurat Trading 2023 to take place on Nov 12 from 6 pm to 7:15 pm (27-10-2023)
Leading stock exchanges BSE and NSE will conduct a one-hour special muhurat trading session on the occasion of Diwali on November 12.
The symbolic trading session will be held between 6 pm and 7.15 pm. This includes a 15-minute pre-market session, the stock exchanges said in separate circulars.
The session also marks the beginning of a new Samvat -- the Hindu calendar year that starts on Diwali -- and it is believed that trading during the 'muhurat' or auspicious hour brings prosperity and financial growth for the stakeholders.
Market analysts said that Diwali is considered to be the ideal time to start anything new. Investors are said to benefit from trading during this session all through the year.
Since the trading window is only open for an hour, markets are known to be volatile. The focus might not be on profitability as much as it might be on the gesture, they added.
Trading would take place across various segments like equity, commodity derivatives, currency derivatives, eq
Mutual fund industry exploring a new product with ‘flexible norms’ (27-10-2023)
The MF product, if introduced, will also have a minimum investment threshold but will likely be much lower than that of PMS
Sebi extends suspension of derivatives trade in 7 agri commodities for 1 yr (27-10-2023)
Markets regulator Sebi on Friday extended the suspension of futures and options trading in seven agricultural commodities, including wheat and moong, for one more year till December 2024 in a bid to rein in prices.
The other agricultural commodities suspended by Sebi are paddy (non-basmati), chana, crude palm oil, mustard seeds and their derivatives and soya bean and its derivatives.
"The suspension of trading in the above contracts has been extended for one more year beyond December 20, 2023, i.e. till December 20, 2024," Sebi said in a statement.
The suspension permits squaring up of existing positions in these commodities, but no fresh futures trading is permitted for a year.
To curb inflation, Sebi in December 2021 prohibited exchanges from launching new derivative contracts of soyabean, mustard seeds, chana, wheat, paddy, moong, and crude palm oil.
These directions were applicable for one year. In December last year, the suspension was again extended for one more year till ..
Markets snap six-day losing streak; Sensex ends 635 points higher (27-10-2023)
Nifty ended the session at 19,047, with a gain of 190 points or 1.01 per cent