Posts in category Business Standard
Sebi tweaks rule on upstreaming clients’ funds by brokers to clearing corps (12-12-2023)
To promote ease of doing business, capital markets regulator Sebi on Tuesday tweaked the framework requiring stock brokers or clearing members to upstream clients' funds to clearing corporations.
This came after Sebi received representations from various stakeholders -- stock brokers, and brokers' associations citing certain operational difficulties in implementation of the framework.
Addressing the issue, Sebi said that stock brokers (SBs) or clearing members (CMs) will upstream all the clients' clear credit balances to clearing corporations (CCs) on the End of Day (EOD) basis. Such upstreaming will be done only in the form of either cash, lien on Fixed Deposit Receipts (FDRs) created out of clients' funds, or pledge of units of Mutual Fund Overnight Schemes (MFOS) created out of clients' funds.
Stock brokers are required to maintain designated client bank account to receive funds from their clients. The nomenclature of all such accounts will be changed to either of the two ...
South Korea’s Mirae Asset Securities buys Sharekhan for Rs 3,000 crore (12-12-2023)
Frenching banking major BNP Paribas bought the retail broking unit in 2007
Sensex takes breather after scaling 70k peak, ends 377 points lower (12-12-2023)
Nifty50 index slumps 91 points --- biggest single-day fall since November 1
Tata group, Larsen & Toubro top market capitalisation gainers in 2023 (12-12-2023)
The construction and engineering major Larsen & Toubro (L&T), however, tops in terms of percentage gains as the company added an additional Rs 2.4 trillion, or 49.1 per cent
Muthoot Microfin to launch Rs 960 crore maiden IPO on December 18 (12-12-2023)
Muthoot Microfin, the microfinance subsidiary of Muthoot Pappachan group, is set to float its Rs 960 crore initial public offering (IPO) on December 18.
The maiden public issue will conclude on December 20 and the one-day bidding for the anchor investors will open on December 15, according to the red herring prospectus (RHP).
The microfinance institution's initial share sale comprises a fresh issue of equity shares worth Rs 760 crore and an offer for sale (OFS) aggregating up to Rs 200 crore.
Those selling shares through the OFS are -- Greater Pacific Capital WIV Ltd and promoters -- Thomas John Muthoot, Thomas Muthoot, Thomas George Muthoot, Preethi John Muthoot, Remmy Thomas and Nina George.
The company plans to use proceeds from the fresh issue for augmenting its capital base, to meet future capital requirements.
Delhi-based Muthoot Microfin is promoted by Muthoot Fincorp, which is the third-largest gold loan player and the flagship firm of Muthoot Pappachan group.
ICICI ...
CoinSwitch unveils umbrella brand PeepalCo; aims for wealth-tech expansion (12-12-2023)
The company said the leaders of each business segment will have independent operational and financial accountability
IPO-bound Oyo elevates Rakesh Kumar as new chief financial officer (12-12-2023)
Kumar will replace Abhishek Gupta, who will continue with Oyo in "an advisory and mentorship capacity
Oil rises after Iran-backed Houthi attack on ship, weak sentiment weighs (12-12-2023)
A cruise missile launched from Houthi-controlled Yemen struck a commercial chemical tanker, causing a fire and damage but no casualties in the latest such attack to heighten safety risks for tankers
UltraTech hits new high, nears Rs 10,000-mark; stock up 6% in two days (12-12-2023)
A sharp surge in the stock price has seen the market capitalisation of this Aditya Brila Group firm near the Rs 3 trillion mark, BSE data shows.
BNP Paribas sells retail broking arm Sharekhan To S Korea’s Mirae (12-12-2023)
Paris-headquartered BNP had acquired 100 per cent equity of Sharekhan from a clutch of investors in 2015