Rites announced that it has received letter of award (LoA) from Tsiko Africa Logistics (Pty) for the supply and commissioning of an overhaul in-service cape gauge 3100 HP and diesel-electric locomotive.

Capital markets regulator Sebi is expected to take measures regarding the Futures and Options (F&O) segment very soon, in a bid to enhance investor protection, its senior official said on Tuesday.
In addition, Sebi has urged the government to introduce tax breaks for subscribers of municipal bonds, which are crucial for funding infrastructure development.
The regulator will make a case for a tax break for municipal bonds during a meeting with the finance commission, the regulator’s whole time member Ashwani Bhatia said here.
Since 1997, municipalities have raised Rs 2,700 crore through bonds for infrastructure projects.
Talking about F&O, Bhatia said,” Sebi is very soon going to do something about F&O. Study has come (recently)”.
The regulator, in its consultation paper recently, proposed seven measures to tighten the rules for index derivatives– revise the minimum contract size and require upfront collection of option premiums intra-day monitoring of position limits, …

At 12:25 IST, the barometer index, the S&P BSE Sensex, advanced 14.11 points or 0.02% to 84,313.89. The Nifty 50 index fell 8.60 points or 0.03% to 25,802.25.

The Securities and Exchange Board of India (SEBI) held its board meeting yesterday and announced a slew of measures. In a key decision, the board has liberalised Mutual Funds Lite (MF Lite) framework for passively managed schemes of mutual funds under which there would be a series of relaxed regulatory requirements designed to facilitate easier entry into the mutual fund market. Barriers related to net worth, track record, and profitability would be reduced.

With the IPO, Midwest is offering a fresh issue of shares up to Rs 250 crore and an offer for sale (OFS) of up to Rs 400 crore