Stock market live updates: Broader markets, too, exhibited muted trends as Nifty Midcap 100 and Nifty Smallcap 100 indices slipped up to 0.3 per cent
Posts in category Business Standard
Sebi slaps Rs 30 lakh fine on 6 for indulging in non-genuine trades (02-08-2023)
Capital markets regulator Sebi has slapped fines totalling Rs 30 lakh on six entities for indulging in non-genuine trade in the illiquid stock options segment on the BSE.
In six separate orders on Monday, the regulator imposed a fine of Rs 5 lakh each on Shrenil L Zaveri, Skyrail Logistics, New Star System Solutions, Seema Didwania, Saroj Devi Bajoria and Pawan Kumar Kejriwal HUF.
The orders came after Sebi observed a large-scale reversal of trades in the illiquid stock options segment of BSE, leading to the creation of artificial volumes on the bourse.
It conducted an investigation into the trading activities of certain entities engaged in the segment on BSE from April 2014 to September 2015.
According to Sebi, these six entities were among those who indulged in the execution of reversal trades.
The reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of ..
Sebi slaps Rs 30 lakh fine on 6 for indulging in non-genuine trades (02-08-2023)
Capital markets regulator Sebi has slapped fines totalling Rs 30 lakh on six entities for indulging in non-genuine trade in the illiquid stock options segment on the BSE.
In six separate orders on Monday, the regulator imposed a fine of Rs 5 lakh each on Shrenil L Zaveri, Skyrail Logistics, New Star System Solutions, Seema Didwania, Saroj Devi Bajoria and Pawan Kumar Kejriwal HUF.
The orders came after Sebi observed a large-scale reversal of trades in the illiquid stock options segment of BSE, leading to the creation of artificial volumes on the bourse.
It conducted an investigation into the trading activities of certain entities engaged in the segment on BSE from April 2014 to September 2015.
According to Sebi, these six entities were among those who indulged in the execution of reversal trades.
The reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of ..
Sebi, APMI jointly set standards for performance audit of PMS players (02-08-2023)
The standard specified by APMI will be effective from October 1, Sebi said in a circular
US rating downgrade by Fitch spooks markets; Sensex, Nifty slump 1.5% (02-08-2023)
While the latest downgrade triggered a selloff in equities, the bond market was relatively unscathed, which helped calm investors’ nerves
Sensex’s yield gap with 10-year US bonds near 0, least since 2008 (02-08-2023)
This gives little incentive to FPIs to invest in Indian equities
Sebi brings in uniformity in audit of firm-level performance data (02-08-2023)
In order to bring uniformity, capital markets regulator Sebi on Wednesday decided to standardise the way portfolio managers audit the firm-level performance data on an annual basis, according to a circular.
Under the rule, portfolio managers are required to submit audit reports on firm-level performance data to Sebi within 60 days from the end of each financial year.
They are required to consider all clients’ portfolios managed — clients of both discretionary and non-discretionary portfolio management services — for the purpose of audit of firm-level performance data.
In its circular, the regulator said that the Association of Portfolio Managers in India (APMI), in consultation with Sebi, will specify standardised Terms of Reference (ToR) for the audit of firm-level performance data.
The standard ToR will include a requirement for portfolio managers to consider clients’ portfolios under all services for the audit of firm-level performance data.
However, the performance of adviso
Sun Pharma Q1 profit may be weighed by weak US generic sales and Taro nos (02-08-2023)
Sun Pharma Q1 results: The company’s Q1 net profit could dip fractionally by 0.15 per cent to Rs 2,058 crore against Rs 2,061 crore reported a year ago
Sula Vineyards slips 8% on Rs 116-crore excise duty notice from Maha govt (02-08-2023)
The company said the order does not affect the existing business or the activities of the company
Aeroflex Industries gets Sebi’s clearance to raise money through IPO (02-08-2023)
Stainless steel flexible hose manufacturer Aeroflex Industries Ltd has received capital markets regulator Sebi’s go ahead to raise funds through an initial share-sale.
The initial public offering (IPO) consists of a fresh issue of equity shares worth up to Rs 160 crore and an offer-for-sale (OFS) of up to 1.75 crore equity shares by promoter entities — Sat Industries and Italica Global FZC, according to the draft red herring prospectus (DRHP).
The OFS comprises sale of 1.23 crore shares by Sat Industries Ltd and up to 52 lakh shares by Italica Global FZC.
At present, Sat Industries owns 92.18 per cent stake in the company, while Italica Global FZC holds 6.52 per cent stake.
“We have been informed by Aeroflex Industries Ltd, our subsidiary, that it has got clearance from the Securities and Exchange Board of India (Sebi) for its IPO, subject to the submission of requisite documents as per the final observation letter dated July 31,” Sat Industries said in a regulatory filing on …