Private equity firms have risen to power major tracts of the US economy
Posts in category Business Standard
DIIs selling accelerates amid FPI buying surge; sell Rs 9,383-cr shares (19-07-2023)
Domestic funds have pulled out Rs 9,383 cr this month, most since Feb’21
Sebi cancels Fairwealth Commodity Broking’s registration for misusing funds (19-07-2023)
Capital markets regulator Sebi on Wednesday cancelled the registration of Fairwealth Commodity Broking Pvt (FCBL) as a broker for misusing clients’ funds.
This order would come into force with immediate effect, the Securities and Exchange Board of India (Sebi) said.
The present matter emanates from the findings in respect of the inspection carried out by Sebi of FCBL during the period from April 2017 to December 2018.
In its probe, Sebi found “FCBL had carried out acts that resulted in failure to segregate client funds from own funds; misuse of clients’ funds; non-settlement of clients’ funds; providing wrong/incomplete enhanced supervision data; improper client registration process; and incorrect mobile number and email ID”.
The brokerage house on three trading days, out of the sample 36 trading days chosen for inspection, had misused the funds of clients, the regulator said in its 25-page report.
Also, there were many instances where settlement of funds of clients hadn’t happen
Plus91 Labs acquires IT company Pixely to strengthen presence in S Asia (19-07-2023)
Cloud consulting and IT service provider Plus91Labs on Wednesday announced the acquisition of Pixely (Internet X Pte Ltd), which is specialized in tailored solutions for the Southeast Asian market.
This strategic move aligns perfectly with Plus91Labs’ long-term vision and growth strategy, enabling the company in expanding its service offerings and strengthening its presence in the region.
The acquisition of Pixely brings valuable domain expertise and a deep understanding of the Southeast Asian market to Plus91Labs, the Gwalior-based company founded in 2017 said in a statement.
With Pixely’s founder Immanuel Gian at the helm, the company will continue to operate under its established brand name.
Immanuel’s industry experience and regional knowledge will be instrumental in driving Plus91Labs’ expansion efforts and building strong relationships with clients in Southeast Asia, the statement said.
“The acquisition of Pixely brings together a wealth of synergies and unique advantages fo
PAN-trading account freeze extended to all listed firms, says Sebi (19-07-2023)
Listed companies will be provided with a portal for updating the commencement and end of the trading window closure period
Sensex consolidates at 67,000-mark; Nifty less than 1% away from 20K (19-07-2023)
With multiple forces at work, markets continue to touch new highs
9 new entrants in Rs 1 trn m-cap club in ’23; HAL, Varun Beverages make cut (19-07-2023)
Hindustan Aeronautics, Varun Beverages among firms to enter
This defence company’s stock has soared 102% in 2 weeks; posts solid Q1 nos (19-07-2023)
Shares of Premier Explosives were locked in 10 per cent upper circuit after the company’s Q1FY24 profit jumped over six-fold to Rs 8.26 crore
Tejas Networks hits new high, surges 9% ahead of June quarter results (19-07-2023)
Thus far in the calendar year 2023, the stock price of Tejas Networks has zoomed 53 per cent, as compared to 9.4 per cent rise in the S&P BSE Sensex
Exchanges revise enhanced surveillance measures for micro small cap cos (19-07-2023)
Leading stock exchanges BSE and NSE have relaxed enhanced surveillance measures (ESM) framework for micro small cap companies that have a market cap of less than Rs 500 crore.
This came over a month after rules were put in place by the bourses to curb volatility in the counters of such firms.
The new framework would be applicable from July 24, according to circulars issued by the exchanges on Tuesday.
Earlier, the stocks under ESM Stage-II were permitted to trade only once a week under the periodic call auction. Now, this has been revised to all trading days.
“Trading permitted with +/- 2 per cent price band on all trading days under periodic call auction,” the exchanges said.
However, the norms of 100 per cent margin and trade-for-trade settlement remain unchanged. Besides, rules remain unchanged for stocks that remain under ESM Stage-I.
“In joint discussion of exchanges and Sebi, the current surveillance actions under the ESM framework were reviewed,” the circulars noted.
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