Posts in category Business Standard
Indices post first weekly decline in five weeks; Sensex falls 260 points (23-06-2023)
The Nifty Smallcap index, however, managed to eke out 1.5 per cent gains for the week
Indices post first weekly decline in five weeks; Sensex falls 260 points (23-06-2023)
The Nifty Smallcap index, however, managed to eke out 1.5 per cent gains for the week
Foreign exchange reserves surge by $2.34 billion to $596 billion: RBI data (23-06-2023)
The reserve rose mainly on account of a rise in the RBI's foreign currency assets, which rose by 2.57 billion to $527.65 billion in the previous week
Foreign exchange reserves surge by $2.34 billion to $596 billion: RBI data (23-06-2023)
The reserve rose mainly on account of a rise in the RBI's foreign currency assets, which rose by 2.57 billion to $527.65 billion in the previous week
Regulator IRDAI approves transfer of HDFC Life shares to HDFC Bank (23-06-2023)
HDFC announced a $40 billion deal last year to merge with the top private lender
MSCI acknowledges India’s transition to T+1 shorter settlement cycle (23-06-2023)
Stresses on need for coordinated transition to the shorter cycle
MCX shares fall as exchange cancels mock trading session for new platform (23-06-2023)
Shares of Multi Commodity Exchange (MCX) fell over 3 per cent on Friday, a day after the exchange cancelled the mock trading session for the new trading platform.
The exchange is in the process of implementing a new commodity derivative platform.
In a circular on Thursday, MCX said, "the exchange had proposed a mock trading session on 22 June 2023, from 05.00 pm to 11.30 pm which stands cancelled."
The stock went lower by 3.12 per cent to settle at Rs 1,570.45 on the BSE. During the day, it fell 6.37 per cent to Rs 1,517.80.
At NSE, it declined 3.28 per cent to end at Rs 1,568.80.
Earlier this week, the exchange had proposed a mock trading session on June 19 also but cancelled the same.
The exchange had earlier also announced to conduct mock trading sessions to familiarise members with the new trading platform.
"MCX stock price fell on June 23 as media carried reports in the morning about cancellation of mock trading on the previous day. Mock trading has been cancelled on a coup
NSE, NITIE ink pact for academic, research collaboration in economics (23-06-2023)
Leading stock exchange NSE on Friday said it has joined hands with the business school National Institute of Industrial Engineering (NITIE) Mumbai for an academic and research collaboration in finance and economics.
The move is aimed at creating an industry-ready talent pool by utilising mutual capabilities, the National Stock Exchange (NSE) said in a statement.
The pact covers a wide range of activities, including capacity building through the design and development of courses in finance and economics, undertaking research in areas like fintech and organising seminars, conferences and symposia, among others.
Also, NSE and NITIE will collectively work towards contributing to the literature on financial market research in the country and promoting general financial market awareness and policy advocacy.
Crypto wrap: Market seeing bull run as institutions jump into industry (23-06-2023)
BlackRock's application for spot Bitcoin ETF and Deutsche Bank's interest in crypto custody services have kept investors motivated in the last week
Sebi issues demand notices to 5 entities in Fortis fund diversion case (23-06-2023)
Capital markets regulator Sebi has sent notices to five entities asking them to pay Rs 5.7 crore within 15 days in Fortis Healthcare's case of fund diversion and misrepresentations to conceal the fraud.
In addition, the regulator warned of attachment of assets and accounts if they fail to make the payment within the stipulated time. The five entities that received notices are Saubhagya Buildcon, Zolton Properties, Tiger Developers, Torus Buildcon and Rosestar Marketing.
The demand notices came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (SEBI) in May 2020.
In five notices issued on Thursday, Sebi directed them to pay Rs 5.7 crore, which includes interest and recovery cost, within 15 days.
In the event of non-payment of dues, the regulator will recover the amount by attaching and selling their moveable and immovable properties. Besides, they will face attachment of their bank accounts. Also, the regulator takes the route o