Posts in category Business Standard
Nifty FMCG, PSU Bank indices: Near-term trading strategies (22-09-2023)
According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index seems range-bound, while one can adopt a 'sell on rise' strategy for the PSU Bank index.
Sebi notifies rule for listing non-convertible debt securities on exchanges (21-09-2023)
Sebi has amended rules under which listed entities with outstanding non-convertible debt securities will be required to list subsequent issuance of such securities on stock exchanges.
This will come into effect from January 1, 2024, the Securities and Exchange Board of India (Sebi) said in a notification uploaded on its website on Thursday.
The move is aimed at facilitating transparency in price discovery of non-convertible debt securities, providing better disclosures to investors and the market, and avoiding ISIN-level confusion and possible mis-selling of unlisted bonds.
In its notification, Sebi said certain types of issuances have been exempted from the applicability of this requirement.
Those included capital gains tax debt securities issued under Section 54EC of the Income Tax Act, 1961; those Non-Convertible Debts (NCDs) where parties have agreed to hold the securities till maturity and accordingly will be unencumbered; and NCDs issued following an order of any court or ...
Sebi issues guidelines for handling complaints received via SCORES platform (21-09-2023)
Capital markets regulator Sebi on Thursday came out with a framework for handling complaints received through SCORES platform for registered entities and for monitoring such grievances by designated bodies.
The new guidelines will come into force from December 4, the Securities and Exchange Board of India (Sebi) said in a circular.
SCORES is a grievance redressal system that was launched in June 2011. Investors can lodge their complaints online with Sebi, pertaining to the securities market, against companies, intermediaries and market infrastructure institutions.
Under the guidelines, all entities including companies that received complaints of investors through SCORES, will have to resolve them within 21 calendar days of receipt of such grievances.
The complaint lodged on SCORES against any entity will be automatically forwarded to the concerned entity through SCORES for resolution and submission of ATR (Action Taken Report).
Further, the complaint against the entity will be ...
Sebi board clears various proposals, discusses tech in securities market (21-09-2023)
Markets regulator Sebi on Thursday decided to provide flexibility to large corporates in raising funds through issuance of debt securities for incremental financing needs.
The decision was taken at the board meeting of the Securities and Exchange Board of India (Sebi) held here on Thursday.
In a release, Sebi said its board also discussed various trends in the securities markets, including technology trends.
Besides, the board has approved streamlining the framework for credit of unclaimed amounts of investors in listed entities to the Investor Protection and Education Fund (IPEF) and process of refund from the IPEF. This will be applicable for listed entities other than companies, Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
The regulator has also decided to extend the timeline for compliance with enhanced qualification and experience requirements for Investment Advisers (IAs).
Sai Silks IPO subscribed 33 % on day 2 of bidding, RIIs subscribed 26% (21-09-2023)
The Initial Public Offering (IPO) of ethnic apparel retailer Sai Silks (Kalamandir) was subscribed 33 per cent on the second day of offer on Thursday.
The initial share sale received bids for 1,27,49,966 shares against 3,84,86,309 shares on offer, as per NSE data.
The category for Qualified Institutional Buyers (QIBs) received 51 per cent subscription while the quota for non-institutional investors got subscribed 27 per cent. The portion for Retail Individual Investors (RIIs) was subscribed 26 per cent.
The public issue has a fresh issue of up to Rs 600 crore and an offer for sale of up to 2,70,72,000 equity shares.
The price range for the offer is Rs 210-222 a share.
At the upper end of the price band, the IPO will fetch about Rs 1,201 crore.
On Monday, Sai Silks said it has raised over Rs 360 crore from anchor investors.
The Hyderabad-based company was founded by Prasad Chalavadi, a techie turned entrepreneur in 2005.
It has four store formats -- Kalamandir, VaraMahalakshmi S
Markets drop on Fed’s higher-for-longer stance; Sensex falls 571 points (21-09-2023)
Sensex, Nifty50 fall for a third day as FPIs intensify selling
Sai Silks Kalamandir’s IPO subscribed 33% a day ahead of its close (21-09-2023)
Sai Silks is looking to raise Rs 600 crore in fresh capital, which will be used to set up 30 new stores and two warehouses to help fuel its growth
KSB soars 12%, hits new high on strong biz outlook, healthy order intake (21-09-2023)
Government's focus on irrigation projects, drinking water supply, sanitation projects, and urban housing is expected to drive the demand for pumps in the water segment
Nykaa, Paytm, Zomato: Canadian FPI-held stocks take a hit on widening rift (21-09-2023)
Stocks held by Canada Pension Plan Investment Board (CPPIB), which is among the biggest FPIs investing in the domestic market, have come under pressure since developments on the India-Canada tensions
Sebi firms ‘corporate group’ definition amid offshore funds scrutiny (21-09-2023)
This communication was sent by stock exchanges on behalf of the regulator - the Securities and Exchange Board of India (SEBI) - to companies earlier this week and has not been previously reported