The Securities and Exchange Board of India, which had earlier rejected the MCX-SX's plea, was asked by a bench of justices Aftab Alam and C K Prasad to reconsider it within three months.
Ramalingam Kalirajan explains the pros and cons of both investment types.
Move to increase the trigger limit will lead to more transactions in companies.
Domestic mutual funds (MFs) have underpinned demand for most public floats this year, dominated by small- and mid-sized initial public offerings (IPOs). Of the 24 IPOs that have hit the market so far this financial year (2023-24, or FY24), MFs have played the role of 'anchor investors' in 20. They have subscribed to over 40 per cent, or Rs 2,850 crore, worth of shares of the Rs 6,900 crore on offer in the anchor category, according to data provided by PRIME Database, a firm that tracks primary market data.
The Union cabinet had approved Coal India's IPO last month, to divest 10 per cent of the government's stake in the Navratna PSU.
Zaggle Prepaid, Cyient DLM, Healthvista India, Rashi Peripherals and Vishwaraj Sugar Industries have obtained the green signal to launch their initial public offerings (IPOs). The approvals come at a time when capital raising by way of IPOs has slowed to a crawl, with only four issues hitting the market so far this calendar year. Recently, the Securities and Exchange Board of India (Sebi) issued final observation letters on their draft red herring prospectuses (DRHPs), which is akin to getting approval to hit the markets.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
Zero-debt Cairn India has $2.85 billion cash reserve.
The big thing was inflating the revenue of the company through fake invoices.
Even as the corporate battle over Zee Entertainment Enterprises (ZEEL) has reached the Bombay high court, another Essel Group firm - Dish TV India - is gearing up for a legal battle with YES Bank by planning to move the National Company Law Tribunal to appoint six of its nominees on the board of the loss-making company. While Dish TV said YES Bank has acquired 26 per cent stake by invoking the pledged shares of Essel Group promoter, it also said YES Bank must make an open offer to shareholders of the company, according to the Securities and Exchange Board of India (Sebi) takeover code. This, as YES Bank is seeking to take control of the company, said Dish TV.
Oravel Stays - which operates hospitality tech firm OYO - on Friday pre-filed its Draft Red Herring Prospectus with stock market regulator Sebi, sources said. Sources close to the company told PTI, OYO may launch its initial public offering (IPO) around Diwali this year. Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
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.
The National Stock Exchange has launched a volatility index reflecting the market's expectation of volatility over the near term, which is the next 30 day period. From the best bid-ask price of Nifty 50 Options contracts, a volatility figure (percentage) is calculated, which indicates the expected market volatility over the next 30 days. Higher the implied volatility, higher the India VIX. Implied volatility refers to the implied risks associated with the stock markets.
Sundararaman Ramamurthy has been an interesting choice for the publicly-listed BSE, which has seen its chief move to bigger rival -- the National Stock Exchange (NSE) -- in July. Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others in the country. Just like NSE's core team, which includes its founder RH Patil, the 59-year-old Ramamurthy has worked at the Industrial Development Bank of India (IDBI) before moving to NSE in 1995.
The much-talked-about sale of Ambuja Cement and ACC by Holcim Group will see the single-biggest outflow of foreign capital from the country if the two cement firms are acquired by Indian investors. The deal, valued at nearly $10.35 billion, will put in the shade Cairn Energy Plc's exit from India in 2010, when it sold Cairn India to Vedanta Group for $4.48 billion. According to various reports, big business groups such as AV Birla, JSW Group, and Adani Group are in the fray to acquire Holcim's assets in India.
The government on Monday appointed former Sebi member Madhabi Puri Buch as chairperson of the Securities and Exchange Board of India.
'It will dictate the flow of funds into the index. We will maintain caution on mid/smallcaps.'
More than a dozen entities, both domestic and foreign, had come under the regulatory glare over alleged short-selling before and after the publication of the Hindenburg research report against Adani Group, two people familiar with the development said. The Securities and Exchange Board of India (Sebi), which is examining the rise in stock values of Adani Group in the past few years, is also scrutinising the trade data and trade pattern of these entities allegedly involved in short-selling and made significant profit. Enquiries in the trade pattern of these entities reflected a profit of over Rs 30,000 crore, pre- and post-Hindenburg saga, said one of the two people.
Sebi on Tuesday decided to introduce a framework for accredited investors, a class of investors who may be considered as well-informed about investment products, in the Indian securities market. The board of Sebi after deliberation approved the proposal to introduce a framework for accredited investors. Under the proposed framework, individuals, HUFs, family trusts, sole proprietorships, partnership firms, trusts and corporate based on financial parameters would be eligible for accreditation of investors, Sebi said in a statement after the board meeting.
United States' biggest electronic stock exchange Nasdaq will help companies listed on it to enter the Indian bourses by issuing Indian Depository Receipts.
SEBI has published data showing that more than 90 per cent of investors lose money in futures and options, explains Harsh Roongta.
The draft regulations in this regard are expected to be approved by the board during the meeting.
Capital markets regulator Sebi has permitted mutual funds to again invest in foreign stocks within the aggregate mandated limit of $7 billion for the industry. This came in the wake of a major correction in global markets that brought down the valuation of international stocks. In January, Sebi had asked mutual fund houses to stop taking fresh subscriptions in schemes investing in overseas stocks. The directive to stop subscription was mainly on account of the mutual fund industry crossing the mandated limit of $7 billion for overseas investments.
Sebi on Tuesday sent a notice to 7 entities, including Malvinder and Shivinder Mohan Singh, asking them to pay Rs 48.15 crore within 15 days in a fund diversion case of Religare Finvest. Sebi also warned of attachment of assets and bank accounts, if they fail to make the payment. The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi).
Preliminary investigations conducted by capital markets regulator Securities and Exchange Board of India and inputs from other regulators and government departments suggest that some brokers were offering structured financial products to their HNI clients under some portfolio investments schemes for high returns of 10-20 per cent.
The Supreme Court adjourned to Tuesday the hearing on a plea of the Securities and Exchange Board of India (SEBI) seeking extension of six months to complete a probe into allegations of stock price manipulation by the Adani group. The hearing on the market regulator's plea and PILs could not take place on Monday due to paucity of time and on account of scheduled hearing of certain matters before a special bench at 3 pm. A bench comprising Chief Justice D Y Chandrachud and justices P S Narasimha and J B Pardiwala on May 12 had said it would consider granting three more months to Sebi for concluding its probe into the allegations of stock price manipulation and lapses in regulatory disclosure.
Life Insurance Corporation (LIC) may require at least five more years to comply with the minimum public shareholding of 25 per cent beyond the current exempted timeline of 2027. Formal communication in this regard had been shared recently with the finance ministry, underlining LIC's roadmap, plans of further dilution of stake, current norms around public float, and challenges ahead, a government source familiar with the matter said. "Going forward, we will have to take a call, along with Sebi (Securities and Exchange Board of India) and the Department of Economic Affairs on the roadmap for minimum public shareholding (MPS).
Shares of asset management companies (AMCs) have rallied in the last 3-4 sessions due to clarity on regulatory changes in total expense ratios (TER) and expectations that it won't upset profits much in the long run. HDFC AMC has gained over 12 per cent in the last four sessions, while Nippon AMC and UTI AMC are up around 5 per cent. Aditya Birla Sun Life (ABSL), the only other listed AMCs, has risen more than 2.3 per cent in the last four sessions.
Companies, which missed out on listing earlier, are giving it another shot but with significantly-reduced issue sizes. In the recent past, companies such as TVS Supply Chain Solutions, Suraj Estate Developers, and ESAF Small Finance Bank have re-filed their draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi). This came after they slashed their issue sizes by 20-60 per cent.
The 2023-24 (FY24) July-September quarter (second quarter, or Q2) proved to be a mixed period for asset management companies (AMCs). While the two largest listed AMCs, HDFC and Nippon, reported robust growth in both revenue and profits, the other two, Aditya Birla Sun Life and UTI, experienced profit declines. HDFC AMC reported an 18 per cent year-on-year increase in Q2 revenue to Rs 765 crore, while Nippon's revenue rose 15 per cent to Rs 475 crore.
The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. "One working group has been set up which is going to review... One of the suggestions is that if any scheme or fund is performing well above the benchmark, it (fee) can be linked to its performance.
Law minister clears Sebi's regulation on put and call options.
Public sector exploration firm Oil India is likely to hit the capital market, with an initial public offering of 2.64 crore shares, in November.
List of disappearing entities could see additions, for first time in 20 years.
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
Yes Bank said it has received approval from the Capital Raising Committee of the Board of Directors of the Bank for raising funds by a way of FPO.
The SEBI and the RBI will look into it. Let their reports come in, BJP MP Mahesh Jethmalani said.
In a significant win for the Adani group, the Supreme Court on Wednesday refused to transfer the probe into allegations of stock price manipulation by the Indian corporate giant to a special investigation team or the CBI, saying market regulator SEBI was conducting a "comprehensive investigation" and its conduct "inspires confidence".
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
"The Securities and Exchange Board of India is working on the concept paper on SME exchanges. It may soon release the guidelines," Minister of State for Micro, Small and Medium Enterprises Dinsha Patel said at a seminar jointly organised by MCX-SX and the Society for Capital Market Research and Development in New Delhi on Tuesday.
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