The latest ruling by the Registrar of Companies (RoC) in the LinkedIn Technology Information case for violating significant beneficial ownership (SBO) norms has brought the amended rules into the spotlight. Experts suggest that more entities, particularly multinational companies (MNCs), are expected to face greater scrutiny. “Companies are closely watching this space.
Posts tagged Rediff
‘Payment banks’ micro-lending will impact economy’ (12-06-2024)
‘The transition from payment banks to SFBs is only permissible for banks not owned by corporate entities.’
We Missed Industrial Revolution (12-06-2024)
Is India headed there again? questions Ajit Balakrishnan
‘Fortis plans to add 700 beds in FY25’ (12-06-2024)
‘Our priority remains brownfield expansion, and in the next few years, we plan to increase our capacity to around 6,000 beds.’
Listed private life insurers’ FY24 margins fell (11-06-2024)
All the four listed private life insurance companies recorded a drop in value of new business (VNB) margin in the financial year 2023-24 (FY24) as compared to FY23. This is because of a higher share of unit-linked insurance plans (Ulips) in the product mix. VNB is a measure of the economic value of profits expected to emerge from a new business.
Cognizant Tech to acquire Belcan for $1.3 bn (11-06-2024)
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider’s closing share price on June 7, 2024.
Markets end flat as investors remain on the sidelines (11-06-2024)
Among the 30 Sensex companies, Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank and JSW Steel were the major laggards. Larsen and Toubro, Tata Motors, Maruti, NTPC, Mahindra and Mahindra and UltraTech Cement were among the gainers.
Equity MFs surge to record Rs 34,697 cr inflows in May (11-06-2024)
Unperturbed by election uncertainty, investors poured record sums into equity mutual fund (MF) schemes in May, driving India closer to a $5 trillion market capitalisation. The Rs 34,697 crore net inflows into actively managed equity funds last month surpassed the previous high of Rs 28,463 crore recorded in March 2022. In April 2024, equity schemes had garnered nearly Rs 19,000 crore.
Sebi’s tweaks may lead to big churn in F and O stocks (11-06-2024)
The market regulator’s newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F and O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
‘No Hurry To Convert To Universal Bank’ (11-06-2024)
‘Have a long way to go even as a small finance bank, both in terms of size, and in terms of fulfilling our aspirations for financial inclusion.’