After tumbling over 700 points intra-day, the 30-share BSE Sensex clawed back lost ground on last minute buying in index heavyweights
Posts in category Business Standard
Sebi to tighten norms for stock exchanges, other market infra institutions (20-12-2022)
Sebi on Tuesday decided to amend the governance norms for stock exchanges and market infrastructure institutions, including categorising their functions into three verticals and rationalising the appointment process for public interest directors.
The regulatory changes are expected to bring in “greater transparency and accountability” in the functioning of Market Infrastructure Institutions (MIIs), Sebi said after its board meeting here.
The changes, cleared by the board, have been finalised after a comprehensive review of the governance of MIIs — stock exchanges, clearing corporations and depositories.
Going forward, the function of an MII will be categorised into three verticals — critical operations, regulatory, compliance and risk management, and other functions, including business development.
The Key Management Personnel (KMPs) heading the functions under the first two verticals will be at par in the hierarchy with the KMPs heading the third vertical. Also, MIIs will have t
Sebi to issue consultation paper for secondary market ASBA by March (20-12-2022)
Market regulator also working on new discussion paper for ESG rating providers
Sebi board approves phasing out shares buyback through stock exchanges (20-12-2022)
The capital market regulator has also laid mechanism for transparency and accountability in Market infrastructure institutions
IPO of Delhi-based Elin Electronics subscribed 37% on first day of offer (20-12-2022)
The initial share-sale of electronics manufacturing services company Elin Electronics received 37 per cent subscription on the first day of offer on Tuesday.
The Initial Public Offer (IPO) got bids for 52,35,360 shares against 1,42,09,386 shares on offer, as per NSE data.
The category for Retail Individual Investors (RIIs) was subscribed 55 per cent, non-institutional investors portion received 43 per cent subscription and Qualified Institutional Buyers (QIBs) 1 per cent.
The IPO has a fresh issue of up to Rs 175 crore and an offer for sale of up to Rs 300 crore aggregating up to Rs 475 crore.
Price range for the IPO is at Rs 234-247 a share.
Delhi-based Elin is a manufacturer of end-to-end product solutions for major brands of lighting, fans, and small kitchen appliances, and a leading fractional horsepower motors manufacturer in the country.
Axis Capital and JM Financial are the managers to the offer.
Sebi opens doors for MF investment platforms to charge transaction fee (20-12-2022)
They can charge some money but commission won’t be allowed: Chairman Madhavi Puri Buch
KFin Technologies IPO subscribed 0.70 times on Day 2, issue closes Wed (20-12-2022)
Financial services firm provides services and solutions to asset managers and corporate issuers
2023 likely to be a flattish year for Indian equities: Kotak Securities (20-12-2022)
Kotak Securities sees Nifty50 at 18,385; rising FD rates could attract investment
Sebi to gradually phase out share buyback through stock exchange route (20-12-2022)
Markets regulator Sebi on Tuesday decided to gradually phase out buyback of shares by companies through the stock exchange route and also approved steps to boost governance at stock exchanges and other market infrastructure institutions.
These were among the proposals approved by Sebi board during its meeting on Tuesday.
Sebi Chairperson Madhabi Puri Buch said the regulator has chosen the tender offer route for share buyback as the present mode is vulnerable to favouritism.
“This is a glide path and will lead to the phasing out of the present buyback mode (through stock exchange route),” she told reporters here.
Currently, for share buyback, companies have both the options of stock exchange and tender offer.
Besides, Sebi board has decided to reduce time taken for registration of FPIs to facilitate ease of doing business.
Norms will also be amended to facilitate sustainable finance in the country and curb ‘greenwashing’.
Indian shares trim losses on IT recovery; recession fears linger (20-12-2022)
Indian shares pared most of the losses in the final hour helped by rebound in IT stocks, while recession worries and a surge in Covid-19 cases in China continued to dampen sentiment