Posts in category Business Standard
Gold rises Rs 100 to Rs 59,060, silver prices fall Rs 200 to Rs 71,900 (05-07-2023)
The price of 22-carat gold increased by Rs 100 and the precious metal was trading at Rs 54,150
Stocks to Watch today, July 5: LTIMindtree, Bandhan Bk, Lupin, Adani Power (05-07-2023)
Stocks to Watch on Wednesday, July 5: LTIMindtree will replace HDFC in the benchmark Nifty50 index, while LIC Housing Finance will likely replace it in the Nifty Financial Services index
Sensex ends 33 pts down in choppy trade; HDFC duo drops 3%, Maruti up 3.5% (05-07-2023)
Closing Bell on July 5, 2023: The Nifty50 ended at 19,399 level, up 10 points or 0.05 per cent, rising for a seventh consecutive session
Bias for Nifty may remain bearish below 19,300: HDFC Securities (05-07-2023)
Vinay Rajani of HDFC Securities sees bullish near-term patterns for Central Bank, and Ujjivan Small Finance Bank
Bias for Nifty FMCG, auto indices remain bullish; sell-on-rise apt strategy (05-07-2023)
According to independent market analyst, Ravi Nathani, both Nifty FMCG, and Auto indices hint at a bullish trend in the near-term, and traders can employ sell-on-rise strategy
Sebi provides clarity on director nomination by debenture trustees (04-07-2023)
After receiving representations, markets regulator Sebi on Tuesday provided clarity on the requirements for appointment of directors by entities that have listed their debt securities.
Under Sebi norms pertaining to listing of non-convertible securities, an entity registered under the Companies Act, 2013 has to ensure that a person nominated by the debenture trustee is appointed as a director.
While this obligation exists for issuers that are companies under the Companies Act, 2013, there is no similar obligation for issuers that are not companies. In this regard, representations have been received from debenture trustees, the regulator said in a circular.
Against this backdrop, Sebi noted that the appointment of a director including nominee director is driven by the provisions of the principal document of the entity (Articles of association, in case of companies under the Companies Act, 2013).
"A nominee director is a director, and therefore, except for specific provisions of law,
Front running case: Individual settles case with Sebi, pays over Rs 44 lakh (04-07-2023)
An individual on Tuesday settled with capital markets regulator Sebi a case pertaining to the alleged front running of trades of its clients Aequitas after payment of over Rs 44 lakh towards settlement charges.
Aequitas is a Mumbai-based boutique investment firm.
The order came after the applicant (Pawan N Agarwal) filed a settlement application under the settlement regulations.
"The instant proceedings initiated against the applicant vide show cause notice (SCN) dated April 22, 2022, is disposed of," Sebi said in a settlement order.
Sebi received a complaint from Finsec Law Advisors alleging that Pawan N Agarwal and two others have violated the provisions of Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) by engaging in front running/ mirror trading of trades of its clients Aequitas.
Thereafter, an investigation was carried out by the regulator and it was observed that Agarwal had violated the provisions of PFUTP rules.
Upon conclusion of the investigation, the regu
LTIMindtree to replace HDFC on Nifty50 benchmark with effect from 13 July (04-07-2023)
LTI's inclusion in the Nifty50 index will result in inflows of Rs 1,450 crore ($177 million) from passive trackers, as per a note by IIFL Alternative Research
Bond auction: 9 states borrow Rs 16,200 crore, Tamil Nadu tops list (04-07-2023)
According to Reserve Bank of India (RBI) data, Tamil Nadu raised the highest amount - Rs. 4,000 crore through two bonds in the current auction
Senco Gold IPO subscribed by 69% on first day of subscription (04-07-2023)
The Initial Public Offer (IPO) of jewellery retail player Senco Gold got subscribed 69 per cent on the first day of subscription on Tuesday.
The Rs 405-crore IPO received bids for 65,28,018 shares against 94,18,603 shares on offer, according to NSE data.
The quota for retail individual investors (RIIs) received 1.12 times the subscription and the category for non-institutional investors got subscribed 62 per cent.
The initial public offer has a fresh issue of up to Rs 270 crore and an offer for sale of up to Rs 135 crore.
The IPO has a price range of Rs 301-317 a share.
Senco Gold Ltd on Monday said it has mobilised Rs 121.5 crore from anchor investors.
Of the Rs 270 crore, the company proposes to use Rs 196 crore of net proceeds from the fresh issue towards funding working capital requirements and the remaining for general corporate purposes.
The Kolkata-based firm has 140 showrooms across 13 states and a total of 63 per cent of them are located in West Bengal. It also sells it