The Securities and Exchange Board of India (Sebi) on Tuesday imposed a penalty of Rs 26 crore on Coffee Day Enterprises (CDEL) for alleged violation of securities laws. The regulator also directed the company to initiate steps to recover dues of Rs 3,535 crore-the amount diverted from seven subsidiaries of CDEL to Mysore Amalgamated Coffee Estates (MACEL). Affirming the violations of the Sebi (Prevention of Fraudulent and Unfair Trade Practices) Regulations and Sebi (Listing Obligations and Disclosure Requirements) Regulations, whole-time member Ashwani Bhatia said the listed company was being run like a personal fiefdom with no checks and balances in place.
Bourses ask for okay in the 'permitted to trade' category; brokers and legal experts speak in favour.
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $ 5.7 billion worth of duty-free goods in 2017, according to figures from US Congress.
The issue of allowing trading in indices such as the Dow Jones and the S&P 500 on the National Stock Exchange (NSE) is being considered by the Reserve Bank of India (RBI).
The government on Saturday imposed a minimum export price (MEP) of $800 per tonne on onion exports till December 31 this year with a view to increase availability of the vegetable in the domestic market and contain prices. The decision will come into effect from October 29. Besides, the government has also announced the procurement of additional 2 lakh tonnes of onion for the buffer, over and above the 5 lakh tonnes already procured.
The National Stock Exchange (NSE) on Friday warned investors not to fall prey to investment plans with guaranteed returns offered by Suraj Mourya associated with "Aimers Trader". The exchange pointed out that these entities are not registered either as a member or authorised person of any registered member of the NSE. The cautionary statement comes after the NSE noticed that Suraj Mourya associated with Aimers Trader was offering to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
The boards of Mahindra Satyam and Tech Mahindra last year proposed a swap ratio of 2:17. Mahindra Satyam shareholders will get two shares of Tech Mahindra of Rs 10 each for every 17 shares they hold.
The bourse has received approval from the capital market regulator Securities and Exchange Board of Indian and the RBI for introducing exchange traded currency options on dollar Indian rupee spot rate, NSE said.
The shift to a shorter T+3 settlement cycle for initial public offerings (IPOs) will be a big test of the domestic market structure, requiring players in the ecosystem to work harder to meet the squeezed timelines, according to industry insiders. The Securities and Exchange Board of India (Sebi), has announced that the transition to the T+3 cycle will be voluntary starting next month and mandatory from December 1. The new mechanism will necessitate quicker confirmations from banks and speedy verification of permanent account numbers (PANs) for all applicants.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
Suppose you have transferred money to your trading account but did not use it to buy securities, the broker could misuse this money, warns Sanjay Kumar Singh.
Cricket and the Olympics made for strange bedfellows when the sport featured in its roster for the first and only time in the 1900 edition of the games in Paris.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
Sebi proposes to relax ownership rules to allow more entrants in the exchange space, which is seeing a disruption globally with the emergence of new technologies such as block chain.
The much-awaited trading in corporate bonds will start on the National and the Bombay Stock Exchanges from July 1. This is expected to energise the moribund debt market.
In its set of recommendations, the China Committee said that economic sanctions against China in case of an attack on Taiwan will be most effective if key allies such as G7, NATO, NATO+5, and Quad members join, and negotiating a joint response and broadcasting this message publicly have the added benefit of enhancing deterrence.
Top Indian industrialist Ratan Tata has returned as a board member of East West Centre, a prominent American think tank.
For India to reach its ambiguous economic growth targets, it needs to be integrated into global trade pacts.
Chappell believed that international cricket faces a real challenge of retaining players in the face of rapid expansion of T20 leagues around the world.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
While an official in the Commerce Department indicated a trade war was in the offing, till now the government has been in wait-and-watch mode.
Brokers have asked for a longer session on poll result day and an additional one on May 17
After the Bombay Stock Exchange (BSE) Brokers Forum, the Association of National Stock Exchange Members of India (ANMI) has decided to approach the government and the Securities and Exchange Board of India (Sebi) on extension of trading hours from January 4.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
India allows derivatives trading in 31 more stocks
Sebi has allowed the Delhi Stock Exchange members to trade on the National Stock Exchange as part of the efforts to bring liquidity and life to the ailing bourse, which has remained almost tradeless for the last two years.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
Such platforms are good for novices, and help seasoned players test their investment strategies
The Securities and Exchange Board of India (Sebi) has proposed measures mandating daily upstreaming of all investor funds from stockbrokers to clearing corporations (CCs). The step, aimed at reducing risk on client funds, will further deplete brokers' revenues as they will lose interest income with transfers being done daily. At present, stockbrokers convert the surplus funds into bank guarantees (BG) or fixed deposit (FD) receipts which earns them extra income.
Without naming Adani group specifically, the capital markets watchdog said in a statement that unusual price movement in the stocks of a business conglomerate has been observed in the past week.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 86. "The Steel Man of India passes away. It is with profound grief that Tata Steel informs of the demise of Padma Bhushan Dr Jamshed J Irani," Tata Steel said in a statement. He passed away on October 31, 2022 at 10 PM at TMH (Tata Hospital) in Jamshedpur, it said.
Crypto exchanges have been asked to furnish details this month itself.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
India's role as a leader of the global south may require it to give up its ambition to serve as a bridge between the warring halves of the international community, points out Mihir S Sharma.
Cricket West Indies (CWI) showed it was willing to welcome back top players on Thursday when it cleared Darren Bravo to play in all forms of cricket after the batsman apologised to the board and its president, Dave Cameron, for a Twitter outburst.
Singh said the warship's commissioning will boost India's maritime power.
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