Posts in category Business Standard
SAT sets aside Sebi’s ban on former TV anchor Hemant Ghai and his family (02-09-2022)
The Securities Appellate Tribunal (SAT) has set aside a securities market ban on former TV anchor Hemant Ghai and his family imposed by regulator Sebi for fraudulent trading practices.
However, the appellate tribunal said that the alleged unlawful gain of Rs 2.95 crore made by Ghais will remain in the escrow account during the pendency of the investigation by the Securities and Exchange Board of India (Sebi).
In case, the investigation exceeds beyond the timeline of six months given by Sebi, it would be open to the appellants -- Hemant Ghai, his wife Jaya Hemant Ghai and his mother Shyam Mohini -- to move an appropriate application for reconsideration of this direction, the SAT said in its order passed on August 25.
The ruling comes after Ghais approached SAT against an order passed by Sebi in July, whereby the regulator disposed of a show cause notice issued to the former TV anchor and his family in February for alleged manipulative trades and decided to re-investigate the matter.
Sebi issues guidelines for brokers providing algorithmic trading services (02-09-2022)
Capital markets regulator Sebi on Friday came out with guidelines for stock brokers, who provide services relating to algorithmic trading to investors, to prevent instances of mis-selling.
The guidelines came after the Securities and Exchange Board of India (Sebi) observed that certain stock brokers provide algorithmic trading facilities to investors through unregulated platforms.
The unregulated platforms are offering algorithmic trading services or strategies to investors for automated execution of trades. Such services and strategies are being marketed with "claims" of high returns on investment, Sebi said in a circular.
Further, "ratings" have been assigned to the strategies, which could lead to investors being lured by such claims. This may amount to mis-selling of such services and strategies to investors, it added.
Accordingly, Sebi has given certain responsibilities to stock brokers that provide algorithmic trading facilities to investors through such platforms.
Such stock
A sobering reality for alcobev makers despite spirited volume gains (02-09-2022)
Raw material pressures, lack of pricing power key worries for Street despite spirited volume gains
Adani Enterprises’ inclusion in Nifty50 index divides D-Street (02-09-2022)
Index inclusion comes after the 'best has played out for the stock' is an overarching concern
Crypto weekly wrap: Bitcoin to rise once it reaches $20,400, say experts (02-09-2022)
For Ethereum, which is scheduled to go for 'The Merge' on September 6, will likely break out of the $2,000 level before the event, experts suggest
Axis Mutual Fund looks to garner Rs 50 cr from maiden fund offer post ban (02-09-2022)
Axis Mutual Fund is targeting to garner Rs 50 crore from the silver ETF and the silver fund of fund announced on Friday -- its maiden launch after the Sebi lifted its three month ban on NFOs from July.
The fund house said the silver fund of fund will invest in the units of Axis silver ETF (exchange traded fund).
Pratik Tibrewal, fund manager, commodities at Axis AMC told PTI that they have set an internal target of garnering Rs 50 crore during the new fund offer.
Both the funds will be open for subscription from September 2 through September 15, the fund house said in a statement.
While the silver ETF will have no exit load, the silver fund of fund will attract an exit load of 0.25 per cent if redeemed/switched out within seven days from the date of allotment but will have no such charges if redeemed/switched out after sever days of allotment.
The silver ETF will invest in industry standard 30 kg physical silver bullion of 999 parts per 1,000 fineness and storage, transport and ..
NDTV open offer date ‘indicative’, subject to Sebi nod: Adani Enterprises (02-09-2022)
The clarification came days after the company said its open offer for a 26 per cent stake in NDTV would tentatively open on October 17
SAT dismisses plea opposing Tamilnad Mercantile Bank’s Rs 830 cr IPO (02-09-2022)
Three shareholders of TMB had sought a stay on the share sale, aggrieved by TMB's decision to drop the OFS component
India, Russia’s mutual adoption of MIR, RuPay aimed at de-dollarisation (02-09-2022)
Russia's disconnection from the SWIFT international payment system could result in unexpected consequences, as several countries are now considering the development of alternative instruments
ITC regains Rs 4-trillion m-cap after 5 years; stock surges 50% in 6 months (02-09-2022)
ITC's market cap had last touched the Rs 4-trillion feat on July 14, 2017, when it was Rs 4.10 trillion on closing level basis