Posts in category Business Standard
Gold, silver prices unchanged; precious metal trading at Rs 63,270/kg (01-02-2024)
The price of 22-carat gold remained stable, with the yellow metal selling at Rs 58,000
Crypto exchange FTX abandons efforts to restart its crypto exchange (31-01-2024)
FTX has been negotiating for months with potential bidders and investors, but none were willing to put in enough money to rebuild the FTX exchange
Equity markets up by 1% ahead of Budget, US Fed interest rate decision (31-01-2024)
Benchmark equity indices recovered their previous day's losses and closed nearly 1 per cent higher on Wednesday amid robust buying in HDFC Bank and Reliance Industries.
Investors are eyeing the two important events lined up ahead -- the interim budget and the US Fed interest rate decision -- to derive further cues from.
Reclaiming all the early lost ground, the 30-share BSE Sensex jumped 612.21 points or 0.86 per cent to settle at 71,752.11. During the day, it zoomed 711.49 points or 1 per cent to 71,851.39.
The Nifty climbed 203.60 points or 0.95 per cent to 21,725.70.
"Nifty bounced back from a weak start and closed with gains of 204 points at 21,726 levels. Global markets will keenly await the US Fed's commentary on the rate cut timeline. On the domestic front, investor's focus will be on the Budget," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Among the Sensex firms, Sun Pharma, Tata Motors, State Bank of India, Mahindra & Mahindra, ..
Equity markets tread K-shaped path, India’s mcap to touch Rs 380 trn (31-01-2024)
Meanwhile, the broader markets showed no signs of cooling off despite concerns about frothy valuations
Crypto exchange FTX expects to repay customers in full: Bankruptcy lawyer (31-01-2024)
Restructuring advisers will need to examine all of the millions of claims that have been filed against FTX to weed out those that are not legitimate, lawyer Andrew Dietderich said
Front-running case: Sebi bans 7 cos from securities market for up to 3 yrs (31-01-2024)
Sebi on Wednesday barred seven entities from the securities market for up to three years and directed to disgorge 'unlawful profit' of Rs 35 lakh made by them in a case of front-running the trades of Sanctum Wealth Management (now known as Sanctum Wealth).
Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information has been made available to its clients.
In its order, Sebi has prohibited Kishan Vishram Nanda from the securities market for three years and six entities related to him for one year. Additionally, the regulator imposed a fine of Rs 5 lakh on Nanda.
Besides, these seven entities have been directed to disgorge a sum of Rs 34,84,605 along with an interest of 12 per cent per annum.
The present matter came out from an alert generated by Sebi's surveillance system indicating the suspected front-running of trades of Sanctum Wealth by certain connected entities.
After this,
Overseas funds pullout exceeds $3 bn in Jan amid geopolitical uncertainty (31-01-2024)
Highest in 12 months; Most among EM peers; Rising bond yields trigger risk off bets
SME listings to undergo changes, AIBI to review eligibility, framework (31-01-2024)
Industry body forms committee to review networth threshold
IT products distributor Rashi Peripherals to open Rs 600 cr-IPO on Feb 7 (31-01-2024)
Rashi Peripherals, an information and communications technology products distributor, is set to float its Rs 600 crore-Initial Public Offering (IPO) on February 7.
The issue will conclude on February 9 and the bidding for anchor investors will open for a day on February 6, according to the Red Herring Prospectus (RHP).
The public issue is a completely fresh issue of equity shares to the tune of Rs 600 crore with no offer-for-sale component.
Of the IPO proceeds, funds worth Rs 326 crore will be utilised for payment of debt and Rs 220 crore for funding working capital requirements and general corporate purposes.
Mumbai-based Rashi Peripherals Ltd caters to brands like ASUS Global Pte. Ltd, Dell International Services India, HP India Sales and Lenovo India.
The company aims to expand its geographic presence in non-metro cities, which includes tier I and tier II cities and other rural geographies which are becoming centres of consumption for ICT products such as personal computers, ..
Sebi bans individual from securities markets for unregistered PMS business (31-01-2024)
Markets regulator Sebi has restrained an individual from the securities markets for a period of two years for providing unregistered portfolio management services.
The regulator also directed Sanbun Investments, its proprietor Nishaan Singh (Noticee) to cease and desist from acting as or holding himself out to be a portfolio manager.
Sebi directed the noticee to refund Rs 16.19 crore received from clients and/or investors as fees or consideration or, in respect of their unregistered portfolio management activities within a period of three months, Sebi said in its order on Tuesday.
The order came after Sebi received a complaint in October 2022 against Sanbun Investments, which is the sole proprietorship concern of Nishaan Singh.
Pursuant to the receipt of the complaint, the regulator conducted an investigation to ascertain the veracity of the complaint and whether there had been any violation of PMS (Portfolio Managers) regulations.
"I note that under the garb of providing courses