Posts in category Business Standard
Sebi issues rules for inspection of warehouses by clearing corporations (29-05-2024)
Capital markets regulator Sebi on Wednesday simplified guidelines on the requirement of inspection of warehouses by clearing corporations.
In its circular, Sebi said that the requirement of two inspections in a calendar year can be done away with for accredited storage facilities with 'nil' stock, continuously during the preceding six months.
In these cases, the number of inspections by an independent agency can be limited to once in a calendar year, it added.
With no stocks for the entire year, the regulator said that no independent inspections are needed. Before accepting new deposits, facilities with no inspections in the previous year must comply with in-house inspection requirements.
This decision is aimed at streamlining the inspection process and reducing unnecessary inspections for facilities without stocks, promoting ease of doing business while ensuring readiness and compliance.
Under the current rules, there is a requirement for clearing corporations to conduct independ
Election jitters, rate uncertainty trigger mkt tailspin for 4th day (29-05-2024)
Elections, rate cut concerns keep investors rattled
Asia Opportunities V, General Atlantic sell 4.46% stake in PNB Housing (29-05-2024)
Asia Opportunities V (Mauritius) and General Atlantic divested a 4.46 per cent stake in housing finance firm PNB Housing Finance for Rs 843 crore through open market transactions.
US-based private equity firm General Atlantic through its affiliate General Atlantic Singapore Fund FII Pte Ltd offloaded its stake in PNB Housing Finance on the BSE.
As per the bulk deal data available with the BSE, Asia Opportunities V (Mauritius) and private equity firm General Atlantic Singapore Fund FII Pte sold 58 lakh shares each, amounting to a combined 4.46 per cent stake in PNB Housing Finance.
The shares were disposed of in a price range of Rs 727.26-727.47 apiece, taking the combined deal size to Rs 843.79 crore.
As of March 2024, shareholding data of PNB Housing Finance on the BSE, Asia Opportunities V (Mauritius) Ltd holds a 9.88 per cent stake, and General Atlantic Singapore Fund FII Pte owns a 9.82 per cent stake in the company.
Meanwhile, Societe Generale purchased 13.08 lakh shares at a
India Inc plan fundraising via QIPs as Lok Sabha election nears end (29-05-2024)
Optimism around poll outcome, capex seen, attractive valuations seen as triggers
Australia Market tumbles 1.3% as inflation spikes (29-05-2024)
At closing bell, the benchmark S&P/ASX200 index dropped 101.08 points, or 1.3%, to 7,665.63. The broader All Ordinaries index was down 99.18 points, or 1.23%, to 7,935.68.
Rupee falls 22 paise to close at 83.40 against US dollar on crude prices (29-05-2024)
The rupee settled 22 paise lower at 83.40 against the US dollar on Wednesday, tracking a negative trend in domestic equities, elevated crude oil prices, and foreign fund outflows.
Forex traders said dollar demand from importers and oil marketing companies (OMCs) also weighed on the rupee.
However, foreign inflows in the bond markets ahead of inclusion on India's government bonds in global bond index cushioned the downside.
At the interbank foreign exchange market, the local unit opened at 83.22 and finally settled for the day at 83.40, down 22 paise from its previous close.
On Tuesday, the rupee pared initial gains to settle 5 paise lower at 83.18 against the US dollar.
"We expect the rupee to trade with a slight negative bias on month-end dollar demand from OMCs and importers to meet their obligations. Risk aversion in global markets and a strong US dollar may further pressurize the rupee," said Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas.
However, fresh foreign
BJP failing to cross the halfway mark could trigger selloff, say brokerages (29-05-2024)
However, the most likely outcome is BJP crossing 300 seats, predict brokerages
FPIs may lose exemption benefits as Sebi issues updated SOPs for custodians (29-05-2024)
The SOP also provides certain examples of the structures followed by regulators in other jurisdictions like the United States and Australia
India to begin wheat imports after six years, to shore up reserves (29-05-2024)
As the new-season wheat harvest rolls in, the government is likely to wait until after June to scrap the import tax, in time for Russia's harvest, the sources said
BlackRock’s $20 bn ETF is now world’s largest bitcoin fund: Report (29-05-2024)
The exchange-traded fund held $19.68 billion of token on Tuesday, overtaking Grayscale Bitcoin Trust's $19.65 billion, report said, citing data compiled by Bloomberg