Stocks of electronics manufacturing services companies have been major outperformers, with four of the top eight listed majors by market capitalisation doubling their value over the past 12 months. The biggest gainer in this space has been the market leader, Dixon Technologies (India), which is up nearly threefold.
The stock of Voltas, the country's largest room air- conditioner (RAC) maker, is up 22 per cent in the past three months. Robust demand on the back of a sweltering summer, distribution expansion, slew of launches and backward integration are expected to forge a good operating performance for the company. In the core RAC segment, there are multiple triggers for the company.
The Securities and Exchange Board of India (Sebi) could soon issue interim orders imposing a market ban on the two former fund managers of Axis Mutual Fund (MF) for suspected front-running of trades, said people with knowledge of the development. "The market regulator has gathered prima facie evidence that demonstrates that the duo has violated the integrity of the market. "While a detailed investigation is still pending in the matter, Sebi could take action under Section 11 (4) to prevent further harm to the investors and the securities market," said a source.
People affected due the flood have taken refuge in safer areas as the administration prepares to shift them to relief camps.
Markets regulator Securities and Exchange Board of India (Sebi) is examining allegations of front-running and other irregularities against a host of domestic fund managers across the asset management industry, said people in the know. Developments at Axis Mutual Fund have prompted the regulator to speed up probe to ensure that there is no drop in confidence in the Rs 39-trillion mutual fund (MF) industry. "We have received complaints against a few fund managers and are looking into possible violations, including those related to code of conduct," said a regulatory source, refusing to divulge names of fund houses as things are at a preliminary stage.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Article 2.4.7, under which Agarwal was charged, deals with "...concealing, tampering with or destroying any documentation or other information" which is relevant to an ongoing investigation."
In an online chat with readers Soumya Banerjee, CEO, Attano Media and Education Pvt Ltd and Deepak Agarwal, Founder Director, AIETS, addressed queries on how to prepare for the SBI Bank PO exam.
The inauguration of the state-of-the-art infrastructure surrounding the historic Kashi Vishwanath Temple near the iconic Dashashwamedh Ghat comes ahead of the assembly polls in Uttar Pradesh early next year.
Traders expect the rupee to remain wedged between the 59.60 and 60.50 levels in the absence of any key triggers in the near-term.
The Yogi Adityanath government on Wednesday transferred 20 senior IAS officers, shunting out Principal Secretary-Information Navneet Sehgal and others who wielded considerable influence under the Akhilesh Yadav dispensation.
The accident occurred around 5.45 pm near Khatauli town, 40 km off Muzaffarnagar, leaving 23 people dead, the Uttar Pradesh police said.
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