Sources said going forward, the exchange is also planning to add more new contracts
Posts in category Business Standard
Benchmark indices make new lifetime closing highs; Sensex rises 467 points (16-06-2023)
FPI flows, optimism about growth behind the rally
Ahmedabad-based RBZ Jewellers files preliminary IPO papers with Sebi (16-06-2023)
RBZ Jewellers has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).
The IPO is entirely a fresh issue of 1 crore equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP).
According to market sources, the Ahmedabad-based B2B and retail jewellery firm would raise Rs100 crore through the IPO.
Proceeds from the issue to the tune of Rs 80.75 crore will be utilized for funding the working capital requirements of the company and for general corporate purposes.
The company’s revenue from operations rose 14.21 per cent to Rs 287.93 crore in FY2023 from Rs 252.11 crore in FY2022. Besides, profit after tax (PAT) surged 55 per cent to Rs 22.33 crore in fiscal 2023 from Rs 14.41 crore in the preceding financial year.
Arihant Capital Markets Limited is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on BSE and NSE.
Sebi issues guidelines on product offerings by online bond platforms (16-06-2023)
Capital markets regulator Sebi on Friday restricted online bond platform providers from offering products other than listed debt securities on their platforms.
In addition, the regulator allowed them to offer securities such as Government Securities, Treasury Bills, listed Sovereign Gold Bonds, listed municipal debt securities, and listed securitised debt instruments on their online bond platforms, according to a circular.
Under the rules, Online Bond Platform Providers (OBPPs) need to register themselves as stock brokers in the debt segment of the stock exchange.
OBPs offer an avenue for investors, particularly non-institutional investors to access the bond market.
While restricting products offered on an online bond platform, Sebi reiterated that an entity acting as an online bond platform provider would cease to offer on its platform or any other platform website, products or services not permitted under the rules.
It, further, said that the holding company, subsidiary, or …
Sebi asks bourses to identify money laundering risks from new product (16-06-2023)
Sebi on Friday asked the stock exchanges and market intermediaries to identify and assess the money laundering and terror financing risks that may arise from the development of new products and new business practices.
In addition, they have been directed to undertake such risk assessments before the launch or use of such products, practices, services and technologies, Sebi said in its updated guidelines on anti-money laundering standards and combating the financing of terrorism obligations of securities market intermediaries.
The development comes after the government amended the Prevention of Money Laundering (Maintenance of Records) Rules or PMLA rules in March.
In its guidelines, Sebi said that every intermediary will have to register the details of a client, in case of the client is a non-profit organisation, on the DARPAN portal of Niti Aayog and maintain the records for five years after the business relationship between a client and the intermediary has ended or the account ha
Sebi slaps Rs 87 lakh fine on 15 people for manipulating share prices (16-06-2023)
Capital markets regulator Sebi on Friday slapped fines totalling Rs 87 lakh on 15 individuals for manipulating the share prices of Kapil Raj Finance.
The Securities and exchange board of India (Sebi) investigated the trading activities of certain entities in the scrip of Kapil Raj Finance Ltd (KRJFL), a BSE-listed entity.
The investigation was mainly to ascertain whether there was any alleged trading by the suspected entities during the period from January to April 2018.
Sebi’s Adjudicating Officer G Ramar said, “I note that they (individuals) engaged in circular trading without change of beneficial ownership, contributing to nearly 80 per cent of circular trading volume, and thereby creating 22.2 per cent of trading volume, which was non-genuine and artificial, which created a misleading appearance of trading”.
By creating artificial volumes, they lured investors into trading in the scrip of KRJFL, he added.
Through such acts, the individuals have flouted the PFUTP (Prohibition o
Crypto wrap: Fed’s rate hike comment, SEC cases drag Bitcoin to 3-month low (16-06-2023)
Bitcoin fell to its lowest in three months on Wednesday after US Fed’s statement hinted that it may increase the rates in the upcoming policy announcements
Stock of this ship building company has zoomed 50% thus far in June (16-06-2023)
Shares of Mazagon Dock Shipbuilders hit a new high of Rs 1,213.40, surging 15% on the BSE in Friday’s intra-day trade. Over 8 per cent of total equity of the company changed hands on the NSE and BSE
ITC scales to fresh high, m-cap inches towards Rs 6 trillion-mark (16-06-2023)
ITC outperformed the market for the eight straight months, has rallied 37% thus far in the calendar year 2023, as compared to 3.8 per cent rise in the S&P BSE Sensex.
SoftBank looking to book profits by selling shares in Zomato, Paytm: Report (16-06-2023)
The shares will be sold in small tranches in the open market and not through block deals