Posts in category Business Standard
There is need for tech-driven regulations for digital assets: Report (22-05-2023)
There is a need for a principle-based standard operating procedures and a technology-driven regulatory framework for virtual digital assets, according to a report.
The report, jointly prepared by leading public policy research and advisory firm Chase India and law firm INDUSLAW, also comes amid the crypto asset market gaining momentum over the last few years.
It highlighted the requirement for developing a technology-driven regulatory framework to promote cooperation across borders and to address the major policy concerns around financial stability, investor and consumer protection, and money laundering.
India is making efforts under the ongoing G20 Presidency to catalyse a global consensus to regulate the crypto asset sector.
Over the last 4-5 years, the crypto asset market has gained momentum and has witnessed a substantial increase in both investor numbers and market capitalisation.
However, despite the large number of industry players and consumers involved in the crypto asse
All 10 Adani stocks gain, group m-cap back in Rs 10-trillion league (22-05-2023)
Conglomerate sees best day since Hindenburg report after SC panel report boosts confidence
Zomato shares give up intra-day gains to settle lower on profit booking (22-05-2023)
Shares of Zomato pared all intra-day gains and ended lower amid fag-end selling at the counter on Monday as investors indulged in profit-taking even as its net loss narrowed in the fourth quarter.
The stock climbed initially but finally settled 1.50 per cent lower at Rs 63.57 on the BSE. During the day, it jumped 3.57 per cent to Rs 66.85.
The company's consolidated net loss narrowed to Rs 187.6 crore in the fourth quarter ended March 2023, on the back of robust revenue growth.
At the NSE, it fell 1.55 per cent to settle at Rs 63.50 after climbing 3.64 per cent to Rs 66.85 during the day.
In traded volume terms, 112.11 lakh shares of the firm were traded at the BSE and over 14.70 crore shares at the NSE during the day.
Its consolidated net loss narrowed to Rs 187.6 crore in the fourth quarter ended March 2023, on the back of robust revenue growth.
The company had posted a consolidated net loss of Rs 359.7 crore in the same period of the previous fiscal, Zomato said in a regulator
Sebi asks REITs, InviTs to hold securities of SPVs, Holding Cos in demat (22-05-2023)
To encourage ease of doing business and improve transparency, capital markets regulator Sebi on Monday asked REITs and InvITs to hold the securities of holding companies and special purpose vehicles (SPVs) in dematerialized form only.
The investment manager of the REIT (real estate investment trust) and InvIT (infrastructure investment trust) will have to ensure the same, Sebi said in two separate circulars.
Further, for existing securities holdings by REITs and InvITs in Holding Companies and SPVs in physical form, the investment managers have been directed to dematerialise such securities by June 30.
Under the rules, the units of REITs and InvITs would be issued only in the dematerialised form to all the applicants.
REITs and InvITs are relatively new investment instruments in the Indian context but are extremely popular in global markets. While a REIT comprises a portfolio of commercial real assets, a major portion of which is already leased out, InvITs comprise a portfolio of .
Sebi proposals to deal with suspicious trading will curb fraud: Experts (22-05-2023)
Markets watchdog Sebi's proposed regulatory framework to deal with unexplained suspicious trading patterns will help in detecting activities involving evasive tactics like the use of mule accounts, complex entity structures, and encrypted communication, experts said on Monday.
The proposed framework would be a major step in bringing the perpetrators under the law and will help protect the interest of investors at large against such practices, Shrey Jain, Founder and CEO of SAS Online, said.
Last week, Sebi proposed a new regulatory framework, wherein a person or group of connected persons exhibiting an unexplained suspicious trading pattern -- repetitive abnormal gainful dealings in a security or a set of securities, around the presence of material non-public information -- would be deemed to be violating the securities laws, unless they are able to effectively rebut the said presumption.
According to Sebi's consultation paper, a repetitive pattern of trading activity by a person or
Sebi moots proposal to strengthen investor grievance mechanism SCORES (22-05-2023)
Capital markets regulator Sebi is looking to strengthen the investor grievance handling process through the SCORES system and integrate the same with the online dispute resolution mechanism.
The proposal is aimed at making the entire redressal process of grievances in the securities market comprehensive by providing an end-to-end solution and the process more efficient and faster by reducing timelines and introducing auto-routing and auto-escalation.
Also, the suggestion has been provided for two levels that the investor can opt for, plus the option for referral to the online dispute resolution (ODR) mechanism recently approved by Sebi.
In its consultation paper on Friday, Sebi suggested that complaints about market price manipulation, insider trading and accounting manipulation by listed companies that are currently being auto-closed should be excluded from the SCORES platform and a separate portal for market intelligence should be created for this purpose.
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Jet Airways, SpiceJet hit 52-week lows, slip up to 10% in firm market (22-05-2023)
Shares of Jet Airways declined 5 per cent as uncertainty continued over the revival of the grounded air line company
Narayana Hrudayalaya rallies 11% to hit a record high on strong Q4 results (22-05-2023)
The company reported the highest-ever revenue and profitability in Q4FY23, as well as for FY23, which is attributed to increased patient footfalls along with improvements in speciality and payor mix
Stock of this pharma company has plunged 80% from its record high level (22-05-2023)
Shares of Gland Pharma tumbled 19 per cent to hit a new low of Rs 872.10 in Monday's intra-day trade, in an otherwise firm market
Shreyas Shipping zooms 20% as board to mull delisting plan on May 24 (22-05-2023)
The company said delisting proposal will provide the public shareholders an opportunity to realise immediate and certain value for their equity shares.