Central Board of Direct Taxes forms an internal committee to oversee a comprehensive review of Income-tax Act (07-10-2024)
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Ashish Kacholia buys fresh stake in this smallcap company, stock up 5% (07-10-2024)
Ace investor Ashish Kacholia bought a 2.52% stake in Jyoti Structures. The stock closed 4.8% higher. Promoters and the promoter group do not hold any stake in the company. The entire 100% stake is held by public shareholders like FPIs, AIFs, and insurance companies.
Elon Musk and Ben Horowitz Split on Trump (07-10-2024)
Elon Musk appeared onstage at a rally for the former president this weekend, but Silicon Valley was abuzz about Ben Horowitz’s U-turn on backing the Republican candidate.
Crude oil prices extend gains on fears of wider West Asian conflict (07-10-2024)
The potential escalation of the conflict has countered mounting demand-side pressures, said Priyanka Sachdeva, analyst at Phillip Nova
Ex-Philippine President, Under Investigation for War on Drugs, Returns to Politics (07-10-2024)
Rodrigo Duterte, who retired in 2022 after a six-year term as president, filed papers to run for mayor of Davao, his family’s political stronghold.
Suraksha Diagnostic gets Sebi’s go ahead to raise funds through IPO (07-10-2024)
Integrated diagnostic chain Suraksha Diagnostic Ltd has received Sebi’s go ahead to raise funds through an initial public offering (IPO), an update with the markets regulator showed on Monday.
The Kolkata-headquartered company’s proposed IPO consists of an Offer-for-Sale (OFS) of up to 1.92 crore equity shares by promoters and investor shareholders, with no fresh issue component, according to the Draft Red Herring Prospectus (DRHP).
Under the OFS, promoters — Somnath Chatterjee, Ritu Mittal, Satish Kumar Verma and investors — OrbiMed Asia II Mauritius Ltd, Munna Lal Kejriwal and Santosh Kumar Kejriwal will offload shares.
The company, which had filed preliminary IPO papers in July, obtained the regulator’s observation on September 30, the update showed.
In Sebi’s parlance, obtaining its observations means the regulator’s go ahead to float the public issue.
As per the draft papers, the company will not receive any proceeds and all the funds will go to the selling shareholders as