Mandates additional disclosures, audit for ESG-thematic funds

Capital markets regulator Sebi on Thursday proposed measures for monitoring the exposure of Clearing Corporations (CCs) to various entities and mitigate the risks.
It has been suggested that any type of exposure of CC should be appropriately monitored and managed. Besides, such exposures should be diversified.
Issuing the proposals, Sebi mentioned about the critical role played by a CC in the securities market ecosystem and that it is exposed to concentration risk.
“… it is important to protect the CC from the risks associated with such entities to which the CC is exposed to and ensure that such exposures of CC are adequately diversified” Sebi said in a consultation paper.
The regulator has comments from the public on the proposals till August 10.
For the purpose of monitoring, Sebi has recommended that CCs should consider several types of exposures.
They include CCs’ own funds invested with banks, Core Settlement Guarantee Fund (SGF) corpus deployed with banks, CCs’ balances

Anticipation around RIL results later today could provide fillip to the index to cross the magic figure

HDFC Bank on Thursday became the second most valuable company by market capitalisation, overtaking IT behemoth Tata Consultancy Services.
At the close of trade, HDFC Bank, which recently completed the merger of its mortgage financier parent HDFC into itself, commanded a market capitalisation (mcap) of Rs 12,72,718.60 crore, which was Rs 5,826.95 crore more than TCS’ Rs 12,66,891.65 crore valuation on the BSE.
Shares of HDFC Bank ended at Rs 1,688.50 apiece, up 0.22 per cent on the BSE. During the day, it climbed 0.36 per cent to Rs 1,690.95.
However, shares of TCS dipped 0.25 per cent to end at Rs 3,462.35 each. During the day, it fell 1 per cent to Rs 3,436.
HDFC, the parent of HDFC Bank, merged into the lender on July 1.
The USD 40 billion merger, the largest such deal in the Indian corporate history, was driven by a changing regulatory landscape, which limited the advantages for HDFC continuing as a non-bank lending entity.
Reliance Industries is the country’s most valued firm

Yatharth Hospital & Trauma Care Ltd has set a price band of Rs 285-300 per share for its initial share sale, which will open for public subscription on July 26, according to market sources.
The public issue will conclude on July 28 and the bidding for anchor investors will open on July 25, according to the red herring prospectus (RHP).
The IPO comprises a fresh issue of equity shares aggregating up to Rs 490 crore and an offer-for-sale (OFS) of up to 65.51 lakh equity shares by the company’s promoters and promoter group entities.
The firm intends to utilize the net proceeds for repayment of debt, funding capital expenditure expenses, funding inorganic growth initiatives through acquisition and other strategic initiatives, and for general corporate purposes.
At the upper end of the price band, the issue is expected to fetch Rs 677 crore and at the lower end Rs 687 crore.
Half of the issue size has been reserved for qualified institutional investors, 35 per cent for retail investors