Posts in category Business Standard
Sebi bans brokers from creating bank guarantees on clients’ funds (25-04-2023)
Capital markets regulator Sebi on Tuesday prohibited stock brokers and clearing members from creating new bank guarantees on clients' funds beginning May 1 and directed them to wind down all existing bank guarantees by September-end.
This is part of Sebi's effort to curb the possible misuse of investors' money by stock brokers.
At present, stock brokers (SBs) and clearing members (CMs) pledge client's funds with banks which in turn issue Bank Guarantees (BGs) to clearing corporations for higher amounts. This implicit leverage exposes the market and especially the client's funds to risks.
"Beginning May 1, 2023, no new BGs shall be created out of clients' funds by SBs/CMs. Existing BGs created out of clients' funds shall be wound down by September 30, 2023," Sebi said in a circular.
The framework will not be applicable for proprietary funds of stock brokers and clearing members in any segment and SB's proprietary funds deposited with CM in the capacity of a client.
In addition, the
Sebi asks AMCs to file final offer documents digitally as part of Go Green (25-04-2023)
Markets regulator Sebi on Tuesday asked asset management companies (AMCs) to file final offer documents only digitally as a part of its "go green" initiative.
In addition, to safeguard the interests of investors in the securities market, Sebi said all new fund offers (NFOs) will remain open for subscription for a minimum period of three working days.
The new framework will be applicable with effect from May 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular.
Under the framework, AMCs will have to file all final offer documents -- SID (scheme information document) and KIM (key information memorandum) -- only digitally by e-mailing the same to a dedicated e-mail ID, and there would be no requirement of filing physical copies of the same with Sebi.
Such submission of all final SID and KIM in digital form will have to be made at least two working days before the launch of the scheme.
As per the current rules, Sebi mandated the submission of a soft copy of th
Mankind Pharma’s Rs 4,326-crore IPO: Issue subscribed 14% on Day 1 (25-04-2023)
The company's IPO closed on Thursday
Twitter account of crypto exchange KuCoin hacked, over $22.6K stolen (25-04-2023)
Singapore-based cryptocurrency exchange KuCoin has said that its Twitter account was hacked, allowing threat actors to promote a fraudulent giveaway scam
What is ESG, how is it supporting companies’ efforts toward sustainability (25-04-2023)
From the role and need to challenges faced by Indian companies in its implementation and criticism around it, here is a lowdown on what is ESG
Rail Vikas Nigam zooms 20% after 12% equity changes hand on the NSE (25-04-2023)
Till 02:58 PM; around 251 million equity shares representing 12 per cent of total equity of RVNL had changed hands on the NSE, the exchange data shows.
Nykaa slips 3%, hits new low on heavy volumes; down for 5th straight day (25-04-2023)
Average trading volumes on the counter nearly doubled with a combined around 11 million equity shares having changed hands on the NSE and BSE so far
Maruti Suzuki Q4 preview: Price hikes to lift revenue, margin, say analysts (25-04-2023)
According to brokerages, Ebitda (earnings before interest, tax, depreciation, and amortisation), is expected to outpace top-line growth, rising up to 22.4 per cent QoQ to Rs 3,466 crore in Q4FY23
PSBs extend gains on hopes of firm Q4; Nifty PSB index zooms 13% in 1 month (25-04-2023)
Among the individual stocks, Indian Bank and Uco Bank were up 3 per cent, Bank of Baroda, Indian Overseas Bank, Central Bank of India, Canara Bank and State Bank of India were up 2 per cent on the NSE
Mankind Pharma IPO subscribed 2% so far on Day 1; GMP down 30% in 10 days (25-04-2023)
The Rs 4,326-crore public issue's price band is set in the range of Rs 1,026-1,080 per share. The issue will close on Thursday, April 27