On the broader market outlook, Vinay Rajani the technical & derivative analyst expects the Nifty to move in the 17,842-176,84 range in the near term.
Posts in category Business Standard
Stocks to watch: Maruti, Bajaj Finance, Glenmark Pharma, IHCL, Raymond (26-04-2023)
Stocks to watch today: From Maruti Suzuki to Bajaj Finance, here are top stocks to watch in Wednesday’s trade
Nifty Auto likely to exhibit range-bound trade; FMCG seems overbought (26-04-2023)
According to Ravi Nathani, an independent technical analyst, the Auto index seems trapped in the 12,950 – 12,830 range. Whereas, the FMCG index is expected to face stiff resistance around 47,200.
Sebi issues notices to Essel’s Amit Goenka, 7 others in fund diversion case (25-04-2023)
Capital markets regulator Sebi on Tuesday issued interim order-cum-show-cause notices against Shirpur Gold Refinery, its erstwhile chairman Amit Goenka, promoter Jayneer Infrapower and Multiventures, and five others for allegedly siphoning off funds from the company and violating other rules.
Shirpur is a part of the Subhash Chandra Goenka led-Essel Group and has been taken to NCLT under IBC by its lenders. Amit Goenka was non-executive chairman and director of Shirpur till 2021-22.
The interim order has been passed against Shirpur Gold Refinery Ltd (SGRL), its promoter Jayneer Infrapower and Multiventures, and six individuals — Amit Goenka (chairman), its directors Mukund Galgali, Vipin Choudhary, Dineshkumar Kanodia, and its CFOs Shravan Kumar Shah and Ashok Sanghvi.
The family members of Subhash Chandra, including his son Amit Goenka, are the shareholders in Jayneer, as per Sebi.
In its order, Sebi directed Goenka, Galgali, Choudhary, Kanodia, Shah, Sanghvi and Jayneer not to s
PE firms prune NSE holdings by 24% in Q4 amid uncertainty over IPO (25-04-2023)
As per latest shareholding data, SAIF Partners, Acacia Banyan Partners, Ontario Teachers, and Deccan Value Investors have cut their exposure by as much as 24 per cent
Nippon AMC Q4 results: Consolidated net profit rises 13% to Rs 198 crore (25-04-2023)
Revenues from operations rose 3 per cent during the quarter to Rs 348 crore
Market regulator Sebi issues show-cause notice to Essel’s Amit Goenka (25-04-2023)
The regulator has directed them to not dilute or sell their holdings in the company
Sebi bars brokers from creating bank guarantees with client funds (25-04-2023)
Regulator says all bank guarantees will have to be terminated by Sept 30
Sebi bans brokers from creating bank guarantees on clients’ funds (25-04-2023)
Capital markets regulator Sebi on Tuesday prohibited stock brokers and clearing members from creating new bank guarantees on clients’ funds beginning May 1 and directed them to wind down all existing bank guarantees by September-end.
This is part of Sebi’s effort to curb the possible misuse of investors’ money by stock brokers.
At present, stock brokers (SBs) and clearing members (CMs) pledge client’s funds with banks which in turn issue Bank Guarantees (BGs) to clearing corporations for higher amounts. This implicit leverage exposes the market and especially the client’s funds to risks.
“Beginning May 1, 2023, no new BGs shall be created out of clients’ funds by SBs/CMs. Existing BGs created out of clients’ funds shall be wound down by September 30, 2023,” Sebi said in a circular.
The framework will not be applicable for proprietary funds of stock brokers and clearing members in any segment and SB’s proprietary funds deposited with CM in the capacity of a client.
In addition, the
Sebi asks AMCs to file final offer documents digitally as part of Go Green (25-04-2023)
Markets regulator Sebi on Tuesday asked asset management companies (AMCs) to file final offer documents only digitally as a part of its “go green” initiative.
In addition, to safeguard the interests of investors in the securities market, Sebi said all new fund offers (NFOs) will remain open for subscription for a minimum period of three working days.
The new framework will be applicable with effect from May 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular.
Under the framework, AMCs will have to file all final offer documents — SID (scheme information document) and KIM (key information memorandum) — only digitally by e-mailing the same to a dedicated e-mail ID, and there would be no requirement of filing physical copies of the same with Sebi.
Such submission of all final SID and KIM in digital form will have to be made at least two working days before the launch of the scheme.
As per the current rules, Sebi mandated the submission of a soft copy of th