A decisive transition may help pull consumer and business sentiment away from near-record lows, shake the property market out of its slumber and accelerate auto sales
Posts in category Business Standard
MARKET LIVE: Sensex trims early gains, turns flat; Nifty50 above 18,000 (27-12-2022)
Stock market live updates: Broader markets, too, rose in unison as Nifty SmallCap 100 and Nifty MidCap 100 indices jumped up to 1 per cent
Gold prices rise, silver unchanged; yellow metal trading at Rs 54,480 (27-12-2022)
Ten gram of 22-carat gold is selling at Rs 49,950
Stocks to Watch: NTPC, LIC Housing, Alembic Pharma, SIS, Gail, Puravankara (27-12-2022)
Stocks to Watch: In the F&O space, Punjab National Bank (PNB) is the only stock in ban period on Tuesday.
Building boom sets up India as saviour for flagging global steel demand (27-12-2022)
Inward shipments rose 15% in April through October from a year earlier to 3.1 million tons, according to government figures
SAT sets aside Sebi’s order to impose penalty on Bhushan Steel for lapses (26-12-2022)
The Securities Appellate Tribunal (SAT) has set aside a Sebi’s order to impose a Rs 2 lakh penalty on Bhushan Steel Ltd, now known as Tata Steel BSL Ltd, for disclosure lapses.
Bankruptcy proceedings were initiated against the debt-laden Bhushan Steel Ltd in July 2017. After completing the corporate insolvency resolution process (CIRP), Bhushan Steel was taken over by Tata Steel Ltd in 2018.
“The impugned order dated 14 February 2022, cannot be sustained and is quashed. However, it would be open to the respondent Sebi to issue a show cause notice for the alleged violation against the entity,” SAT said in an order passed on December 20.
The ruling comes after an appeal was filed against the Sebi order, levying a Rs 2 lakh fine on Bhushan Steel for not making the requisite disclosure under LODR (Listing Obligations and Disclosure Requirements) rules.
It noted that the appellant was found guilty of non-disclosure of the number of investor complaints filed with the stock exchanges on a
Sebi bans CFAS, its partners from mkts for 3 yrs for unauthorised services (26-12-2022)
Sebi on Monday barred Capproin Financial Advisory Services (CFAS) and its partners from the securities markets for three years for providing investment advisory services without the market regulator’s authorisation.
Capproin Financial Advisory Services is a partnership firm and its partners — Sourabh Rai and Jasmeet Kaur Bagga.
The order came after Sebi received complaints through the market watchdog’s SCORES (SEBI Complaints Redress System portal) platform against CFAS and its partners.
Thereafter, the matter was examined by the regulator to ascertain whether there had been any violation of the provisions of IA (Investment Advisers) norms.
Further, a show cause notice was issued to CFAS and its partners in March 2020.
In its order, the regulator found that CFAS and Rai were never registered with Sebi in any capacity as an intermediary. However, Bagga was registered with the regulator in her capacity as proprietor of Research Infotech.
According to Sebi, CFAS, Rai and Bagga were
Radiant Cash Management Services IPO subscribed 11% on second day (26-12-2022)
The initial public offer of Radiant Cash Management Services was subscribed 11 per cent on the second day of subscription on Monday.
The initial share-sale received bids for 29,76,450 shares against 2,74,29,925 shares on offer, as per NSE data.
The category meant for Qualified Institutional Buyers (QIBs) was subscribed 16 per cent, while the portion for Retail Individual Investors (RIIs) received 12 per cent subscription and non-institutional investors 3 per cent.
The Initial Public Offer (IPO) has a fresh issue of up to Rs 60 crore and an offer for sale of up to 33,125,000 equity shares.
The price range for the offer is at Rs 94-99 a share.
Based on the upper band of the share price, the IPO is expected to fetch Rs 388 crore.
IIFL Securities, Motilal Oswal Investment Advisors and YES Securities are the managers to the offer.
NSE cautions investors against unauthorised people offering assured returns (26-12-2022)
The National Stock Exchange (NSE) on Monday asked the investors not to put their money in any assured returns-scheme offered by two individuals.
The advisory comes after the exchange found that the two individuals — Ravi and Nisha — were offering such schemes.
The bourse, in a statement, said the two individuals are not registered either as members or authorised persons with any registered member of the NSE.
Cautioning the investors, NSE asked them not to subscribe to any such scheme or product offered by any person offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law.
Further, investors have been advised not to share their trading credentials such as user ID and password with anyone.
“Participation in such prohibited schemes is at investors’ own risk, cost and consequences as such schemes are neither approved nor endorsed by the exchange,” it said.
Sebi expands committees on cyber security and information systems (26-12-2022)
Last rejig of cyber security panel happened in September; decision to ramp up information systems panel follows difficulties faced by CDSL in settlement activities