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Posts in category Business Standard
F&O trading can’t be a pastime, investors need to be serious: Sebi member (22-10-2024)
India cannot afford to make futures and options trading into a ‘national pastime’, Sebi whole-time member Ashwani Bhatia said on Tuesday, urging investors to be more serious.
Speaking at an event organized by Morningstar here, Bhatia rued that investors are protesting against the latest moves to curb activity in the F&O Segment initiated by Sebi.
The markets watchdog’s study has revealed that 93 per cent of the trades result in a loss for retail investors, and Bhatia said it is the institutional investors who are making money in the process.
“F&O cannot be and should not be a national pastime which actually means that savings of retail participants move into the pockets of institutional hands,” he said, asking investors to do “serious investing”.
He said India is home to more than half of the global derivative volumes, making it the largest base for such bets globally, and made it clear that this is a “crown we do not wish to wear”. “… uneasy lies the head that wears a …
World has enough oil, more supplies coming: Puri hopes prices will cool (22-10-2024)
Petroleum Minister Hardeep Singh Puri on Tuesday said the world has enough crude oil and more supplies are coming into the market, which he hoped will cool down oil prices.
“There is no shortage of oil,” he told reporters on the sidelines of an event here.
But geopolitical tensions cause prices to rise owing to higher freight and insurance charges incurred in avoiding conflict zones.
He hoped better sense will prevail and diplomacy will take precedence.
Despite geopolitical tensions, there is no shortage of oil in the world and more supplies from countries such as Brazil and Guyana are coming into the market, he said.
There is no anxiety over availability, he said, adding “We are confident of navigating, as we had in the past… any situation arising.”
India imports more than 85 per cent of its oil needs and any rise in global rates not just impacts import bills but also fuels inflation.
“My hope is that oil prices remain stable and come down… that’s my personal opinion,” he .
Hyundai Motor India drops 7% in market debut after country’s biggest IPO (22-10-2024)
HMIL’s IPO had seen strong response from sovereign wealth funds and domestic mutual funds, but retail and wealthy investors sidestepped the issue amid a selloff in auto stocks and overall markets
Jewellers’ body pushes for standardisation of gold rates across India (22-10-2024)
The All India Gem and Jewellery Domestic Council (GJC) announced Tuesday it is working to implement ‘One Nation One Gold Rate’, aiming to standardize domestic gold prices that currently vary across different regions of the country.
“We import gold at the same rate, but the domestic retail prices differ from one city to another. We want a single rate to prevail across the country,” GJC Secretary Mitesh Dhorda said at the launch of ‘Lucky Lakshmi’, a revamped annual gold festival running from October 22 to December 9.
The council, which has already conducted over 50 meetings with its members, has managed to bring up to 8,000 jewellers on board for this initiative.
While a representation has been made to the government, the GJC is currently focused on convincing the industry stakeholders.
“We are already providing a recommended rate through WhatsApp broadcast groups to our members. Our target is to reach at least 4-5 lakh jewellers step by step,” Dhorda said, adding that implementatio
Edelweiss Asset’s former manager settles MF rule violation case with Sebi (22-10-2024)
A former fund manager of Edelweiss Asset Management has settled a case pertaining to alleged violations of mutual fund rules with markets regulator Sebi following a payment of Rs 19.5 lakh towards settlement charges.
Abhishek Gupta allegedly failed to ensure that the funds of the schemes were invested to achieve the objectives of the scheme and by doing so he allegedly violated mutual fund rules.
The order came after Gupta filed an application with Sebi proposing to settle the alleged violations “without admitting or denying of the findings of fact and conclusions of law” through a settlement order.
“In view of the receipt of settlement amount by Sebi, the instant adjudication proceedings initiated against the noticee viz, Abhishek Gupta vide ShowCause Notice… dated January 4, 2024, are hereby disposed of,” the regulator said in its settlement order.
The Securities and Exchange Board of India (Sebi) received Rs 19.5 lakh from Gupta on October 17, towards the settlement amount.
Market Crash: Why Sensex plunged over 900 pts, Nifty fell below 24,500 (22-10-2024)
In a volatile session on Tuesday, the BSE Sensex crashed up to 1002 points or 1.23 per cent to 80,433 levels, while NSE’s Nifty50 fell 336 points or 1.35 per cent at 24,445.80 levels
Shipbuilding shares sink; Mazagon Dock, GRSE, Cochin Ship tank up to 10% (22-10-2024)
Cochin Shipyard, Garden Reach Shipbuilders & Engineers and Mazagon Dock Shipbuilders have corrected up to 51% from their respective 52-week highs touched in July 2024.
Supreme Industries sinks 10% on de-growth in revenue, profits; details (22-10-2024)
Supreme Industries shares tanked up to 10 per cent at Rs 4,479.65 per share on the BSE after the company delivered muted quarterly earnings
Explained: Why have 360 One WAM shares plunged 8% in trade today? (22-10-2024)
360 One WAM ‘s total expenses increased 39.6 per cent Y-o-Y to Rs 299 crore in Q2 FY25 as compared to Rs 214 crore