Rising outgo towards clearing and settlement fees has led to an altercation between the BSE and the National Stock Exchange of India (NSE), with the latter striking down the former's request to lower the charges. NSE said it has no plans to restructure the same and that it will continue with the pricing defined under the interoperability framework. The interoperability framework, introduced in 2019, allows trades executed on any of the exchanges to be settled or cleared at either of the two clearing corporations -- NSE Clearing (NCL) or Indian Clearing Corporation (ICCL), fully-owned by the NSE and the BSE, respectively.
Equity mutual fund (MF) schemes have raked in Rs 46,200 crore in net lump-sum inflows in the past six months (ended February 2024), almost thrice the inflow in the previous six-month period.
After the success of the National Highways Authority of India's (NHAI's) first infrastructure investment trust (InvIT) with foreign institutional investors, the Centre is working on a proposal to launch a fresh InvIT for national highways, where domestic retail investors can hold units of the trust
Within a day of announcing advancement of opening to 0900 hours from December 18, NSE along with India's oldest stock exchange BSE deferred implementation of the proposal to January 4 to give more time to the brokerages to align their operations.
Recently, market regulator Sebi had permitted Indian bourses to extend their trading hours to 9.30 am to 5 pm from the present 9.55 am to 3.30 pm.
In the high profile co-location case, markets regulator Sebi on Wednesday imposed a penalty of Rs 1 crore on the NSE for failing to provide a level-playing field for trading members subscribing to its tick-by-tick (TBT) data feed system. In addition, the regulator levied a fine of Rs 25 lakh each on NSE's former managing directors and chief executive officers Chitra Ramakrishna and Ravi Narain. Alleged lapses in high-frequency trading offered through NSE's co-location facility came under the scanner of the watchdog after a complaint was filed in 2015.
Sunil Bharti Mittal, chairman and managing director of Bharti Tele-Ventures, sold 3,13,005 shares on March 9 and 24,36,995 shares on March 10 of his holding in the company.
IFCI, a state-run financial institution, today sold Rs 51.7 crore worth shares of Unitech, the nation's second-biggest property developer, as the promoters of the company failed to repay loans raised against pledged shares.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
'The Budget needs to focus more on social welfare schemes.'
The move comes after CBI gets sanction to prosecute him in Aircel-Maxis case
MCX and MCX-SX are facing the worst crisis in their existence following the Rs 5,574 cr fiasco at the National Spot Exchange.
The operations revealed evidence of price and volume manipulation of stocks through the use of platforms like YouTube and WhatsApp.
US prosecutors' case against Gautam Adani and others may stumble on the extraterritorial application of American law.
The Enforcement Directorate's (ED's) chargesheet in the National Stock Exchange (NSE) illegal phone-tapping case points to insider trading during the tenures of Chitra Ramkrishna and Ravi Narain as managing director and chief executive officer of the bourse. The federal agency will soon be sharing the details with the Securities and Exchange Board of India (SEBI) for further inquiry, two people aware of the findings told Business Standard. The ED, which filed its prosecution complaint (commonly known as chargesheet), alleged that Narain and Ramkrishna were the "key conspirators" and had assisted iSec Services to generate money to the tune of Rs 24 crore for exchanging crucial information, the people said.
'The favourable rupee-dollar exchange rate, there are opportunities we can tap.'
Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline. A day after Sony Pictures Networks India (SPNI) stated that it has not yet agreed to a deadline extension requested by Zee Entertainment Enterprises Ltd (ZEEL) for their proposed $10-billion merger, the Subhash Chandra family-promoted media firm said it has received a communication from Sony group for discussing an extension of the deal which was announced almost two years ago.
The Bombay Stock Exchange (BSE) has slapped fines on 530 listed companies for failing to meet a deadline to appoint a women director and boost gender diversity in their boardrooms.
Aditya Puri has a higher yearly pay of 9.7 crore, plus stock options, at HDFC Bank.
A buoyant equity market, coupled with an improved performance of mutual funds (MFs) on the returns chart, has heightened retail investors' appetite for equities. In the past few months, equity MF schemes have seen a surge in fresh investments through both lump sum (one-time investments) and systematic investment plan (SIP) routes. During the August-September 2023 period, equity MF schemes recorded net lump sum investments of Rs 35,270 crore, compared to just Rs 5,550 crore in the previous three months, according to data from the Association of Mutual Funds in India (Amfi).
Of the 80 new appointments, 51 women are becoming directors.
Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024. Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
Gearing up to ensure greater compliance by companies to listing agreement, NSE is planning to increase its headcount to bring in more efficacy in its oversight role as a front-line regulator of the securities market.
Stocks of small- and mid-cap companies continued to gain ground in July, notwithstanding analysts sounding caution on these two market segments given the sharp run thus far in calendar year 2023 (CY23). Sanjeev Prasad, co-head of Kotak Institutional Equities, in a note co-authored with Anindya Bhowmik and Sunita Baldawa in June-end, had cautioned against the sharp run in small- and mid-caps. "We do not see any particular reason for the excitement in small- and mid-cap stocks.
The National Stock Exchange (NSE), which is once again in the eye of a storm due to the co-location scandal, has said it has taken several transformational steps in the past few years on the regulatory, technological, and surveillance fronts to help improve stakeholder experience and to protect investors. Senior officials of the exchange briefed the media over the steps the exchange has taken on various fronts following changes at the helm with former managing director and chief executive officer Chitra Ramkrishna's ouster in December 2016. "Over the last few years, we have been looking to modernise and transform the entire value chain of technology.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Investors can sell a part of the stocks, mutual funds, exchange-traded funds, and other securities held in their portfolios at a loss and use this loss to offset tax on the capital gains made on the sale of other securities.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
Notwithstanding concerns about lofty valuations, smallcaps recorded their most significant monthly gain in nearly three years in November. The National Stock Exchange Nifty Smallcap 100 finished the month with a 12 per cent gain, the most since February 2021 when it rose by 12.2 per cent. After declining by 4.1 per cent in the preceding month, the Nifty Midcap 100 rose by 10.4 per cent, the most since July 2022.
'We would love to have more players entering the market because that is how the business will grow.'
'This issue is related to national security because they were compromising the entire capital markets's core infrastructure by leaking confidential information.' 'What would have happened if the servers had come down?' 'Or some confidential information leaked to terrorists who could have knocked out our capital market?'
Since the company's senior management was privy to the price-sensitive information of Ghosh's resignation, Sebi wanted to check whether the information was disseminated properly to bourses
With the Nifty50 surging past the 20,000 mark, the markets are experiencing a spate of initial public offerings (IPOs) with four issues set to raise over Rs 4,673 crore this week. Another quartet, cumulatively worth Rs 3,000 crore, is expected to launch next week. Companies like RR Kabel, SAMHI Hotels, Zaggle Prepaid Ocean Services, and Yatra Online are set to hit the primary market this week, while Signature Global, Updater Services, Sai Silks (Kalamandir), and Vaibhav Jewellers are slated for next week. This flurry of activity is driven by multiple factors including buoyant market conditions, increased demand for IPOs, and specific rule on the disclosure of quarterly financials.
The agency recorded his statement under criminal sections of the Prevention of Money Laundering Act (PMLA), officials said.
The dealers operating in the space have jumped nearly three times over the past two years.
The BSE also launched a report 'Because I am a Girl' on Tuesday, which focuses on the economic empowerment of the girl child. It was also released simultaneously in 15 countries, including at the Sydney and Dutch Stock Exchanges.
The country's largest bourse National Stock Exchange (NSE) has put the NSE Prime initiative in cold storage following lukewarm response from India Inc, said people aware of the development. Inspired by Brazil's Novo Mercado, NSE had announced a separate platform which any listed company could be part of by voluntarily adopting a stricter corporate governance code. Launched in December 2021, NSE Prime was to formally take off within a year after empanelling companies.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
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.
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