Posts in category Business Standard
Sebi reduces approval time to 7 days for brokers for internet-based trading (30-05-2024)
Markets regulator Sebi on Thursday significantly reduced the time taken by stock exchanges for granting approval to stock brokers for internet-based trading to seven days from the current 30 days.
The move is aimed at facilitating ease of doing business.
Under the rule, the broker is required to apply to the respective stock exchange for a formal permission to provide internet-based trading service.
Further, the stock exchange, which was required to communicate its decision to the member within 30 calendar days, will now have to do so within 7 days, the Securities and Exchange Board of India (Sebi) said in its circular.
The internet trading can take place through order routing systems, which will route client orders to exchange trading systems for execution. Thus a client sitting in any part of the country can trade using the internet as a medium through brokers' internet trading systems.
Additionally, the regulator has abolished the existing requirement of periodic confirmation
Barometers trade with deep cuts; consumer durables slide for 3rd day (30-05-2024)
At 14:30 IST, the barometer index, the S&P BSE Sensex, was down 605.31 points or 0.82% to 73,889.75. The Nifty 50 index declined 200.80 points or 0.88% to 22,494.70.
Foreign exchange operations to be guided by objective of ensuring orderly movements in exchange rate of the Rupee: RBI Annual Report (30-05-2024)
The Indian rupee experienced bouts of volatility stemming from global financial markets due to the monetary policy stance of the US Fed and lingering geopolitical tensions, the Reserve Bank of India stated in its Annual Report 2023-24. While FPI inflows, softening of crude oil prices and easing of current account deficit supported the INR, a strong USD reflecting safe haven demand in the face of geopolitical tensions and expectations of higher interest rates for longer period in the US imposed downward pressure on the INR. The Reserve Bank intervened in the forex market through operations in the onshore/offshore OTC and exchange traded currency derivatives (ETCDs) segments to maintain orderly market conditions and contain excessive volatility in the exchange rate.
Galada Power & Telecommunication reports standalone net profit of Rs 0.17 crore in the March 2024 quarter (30-05-2024)
Reported sales nil
Bengal Tea & Fabrics reports standalone net loss of Rs 5.46 crore in the March 2024 quarter (30-05-2024)
Sales rise 3.31% to Rs 3.74 crore
Zenith Exports reports standalone net loss of Rs 0.42 crore in the March 2024 quarter (30-05-2024)
Sales rise 35.91% to Rs 19.87 crore
Cityman reports standalone net loss of Rs 0.08 crore in the March 2024 quarter (30-05-2024)
Reported sales nil
ISF reports standalone net loss of Rs 0.88 crore in the March 2024 quarter (30-05-2024)
Sales rise 25.00% to Rs 0.35 crore
Explicit Finance reports standalone net loss of Rs 0.18 crore in the March 2024 quarter (30-05-2024)
Sales decline 18.66% to Rs 2.92 crore
Emerald Leisures reports standalone net loss of Rs 2.62 crore in the March 2024 quarter (30-05-2024)
Sales decline 3.69% to Rs 4.18 crore