Sebi proposes to enhance role, accountability of mutual fund trustees

Amidst growing scale of the mutual fund industry, capital markets regulator Sebi has proposed to increase the role and accountability of the trustees in a bid to safeguard unitholders' interest. In addition, the regulator has suggested to enhance the accountability of board of asset management company (AMC). Also, Sebi has proposed a common platform for dissemination of public announcements by mutual funds. In order to have an independent review mechanism for the decisions of AMC from the perspective of the unitholders' interest across all products and services, Sebi has proposed to mandate that a "Unit Holder Protection Committee (UHPC) should be constituted by board of AMC". In its consultation paper, Sebi has suggested that trustees of mutual funds should focus on market abuse by AMC, its employees and mis-selling by the AMC to increase the asset base. Also, trustees should be responsible for fairness of fees and expenses charged by the AMC, compare its performance with peers a

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Drone maker ideaForge Technology files preliminary IPO papers with Sebi

Drone maker ideaForge Technology has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The public issue comprises fresh issue of equity shares worth Rs 300 crore and an offer for sale (OFS) of 48,69,712 equity shares by one of the promoters and existing shareholders, according to the draft red herring prospectus (DRHP). Those selling shares in the OFS include Ashish Bhat, A&E Investment LLC, Agarwal Trademart, Celesta Capital II Mauritius, Celesta Capital II-B Mauritius, Export Import Bank of India, Indusage Technology Venture Fund I, Qualcomm Asia Pacific Pte Ltd and Society for Innovation and Entrepreneurship. Also, the company may consider an issue of shares aggregating up to Rs 60 crore. If such placement is completed, the fresh issue size will be reduced. Proceeds from the fresh issuance to the tune of Rs 50 crore will be utilised for debt payment, Rs 135 crore towards funding working capital requirements and

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Adani group firms pledge shares for lenders of AEL: SBICAP Trustee

SBICAP Trustee said it had received the pledges in its capacity as "security trustee" of the lenders of Adani Enterprises

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Tight liquidity makes Adani Group dollar bonds a tough buy or sell

Most of some $8 billion of Adani firms' outstanding bonds fell below the 70 cents on the dollar mark - which is seen as distressed territory - after the Hindenburg report

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Sensex snaps 2-day winning run amid weak global cues; metal stocks weigh

Equity benchmark Sensex declined 123 points on Friday due to selling pressure in metal and energy stocks amid a bearish trend in global equity markets. Rising crude prices and continued selling by foreign investors also weighed on market sentiment, traders said. Snapping its two-day gaining streak, the 30-share BSE Sensex ended 123.52 points or 0.20 per cent lower at 60,682.70. During the session, the index touched a high of 60,774.14 and a low of 60,501.74. The broader NSE Nifty slipped 36.95 points or 0.21 per cent to finish at 17,856.50. HCL Tech was the biggest loser on the Sensex chart, shedding 2.79 per cent, followed by Tata Steel, ICICI Bank, Reliance Industries, ITC, Wipro, Infosys and M&M. In contrast, Tata Motors, L&T, Bharti Airtel, HDFC Bank and SBI were among the winners, climbing up to 2.05 per cent. In the broader market, the BSE midcap gauge rose 0.04 per cent, and the smallcap index gained 0.48 per cent. Elsewhere in Asia, markets in Shanghai and Hong Kong ...

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Zomato dips 7% on profit booking as loss widens to Rs 347 crore in Q3

Global brokerage Jefferies believes outlook seems positive as break-even target stays, as early as Q4FY23 - another positive in the context of Zomato Gold

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Index provider MSCI cuts 4 Adani group securities free-float designations

MSCI said it had reduced the free floats of Adani Enterprises, Adani Total Gas, Adani Transmission and the Associated Cement Companies, the report said

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Stocks of Adani Group remain in MSCI indices after quarterly review

It is still unclear whether the index provider has adjusted weightings of any of the group's stocks in its equity gauges in its latest review

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ConsenSys and Onramp.money join forces to empower Indian users with easy access to crypto directly in MetaMask

Mumbai (Maharashtra) [India], February 9 (ANI/NewsVoir): Today, ConsenSys, a market-leading Web3 company, announced that MetaMask, the world's leading Web3 wallet, will integrate with Onramp.money, powered by India's largest exchange - Bitbns, in a move that will allow Indian users to easily make transactions using their bank to get instant crypto access. Users of MetaMask in India will now be able to purchase crypto directly within the MetaMask mobile app using Onramp.money's API supports various local payment methods, such as UPI & IMPS, for a more seamless experience, making it cheaper, faster, and more efficient.

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Sebi to MF trustees: Do not rely on assurances, evaluate independently

These responsibilities include preventing undue influence of sponsors, market abuse by employees, unfair advantage to associates, conflict of interest between various parties and mis-selling

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Adani Wilmar bucks weak trend in group companies; surges 5% post Q3 results

The stock of Adani Wilmar has recovered 9 per cent from its intra-day low of Rs 405.10, lifted by heavy volume. In the past three days, it has bounced back 16 per cent

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Cummins India surges 10%, hits record high on robust Q3 results

The company reported record quarterly revenue driven by strong domestic and export revenue coupled with prudent cost management resulting in record quarterly profit.

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Adani group stocks under pressure as MSCI to review free float status

Adani Enterprises locked 10 per cent lower circuit, while Adani Ports, Adani Power, Adani Transmission, Adani Total Gas, Adani Green Energy and Ambuja Cements were down up to 6 per cent

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Stocks to Watch: Adani group stocks, LIC, Reliance, L&T, Equitas SFB, Trent

Stocks to Watch: MSCI has started a free float review of Adani Group securities and it believes certain Investors should no longer be designated as free float

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Sebi proposes bondholders' nod for related party transactions for companies

The norms will be applicable to only listed non-convertible debt securities, according to SEBI

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NSE Q3 net profit rises 55% to Rs 1,826 cr; revenue up 35% to Rs 3,263 cr

The stellar growth was despite a 20 per cent year-on-year fall in cash market volumes during the 9MFY23

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This Adani group stock has bounced back over 100% in three days

Shares of Adani Enterprises rallied 14 per cent to Rs 2,049.60 in Wednesday's intra-day trade, and have zoomed 102 per cent from its intra-day low of Rs 1,017.10 touched on Friday February 3.

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Rate sensitives' display mixed trend after RBI hikes repo rate by 25 bps

At 11:00 am; Nifty Bank, Nifty Private Bank, Nifty PSU Bank and Nifty Financial Services are trading almost flat, as against 0.58% rise in Nifty 50.

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Cement shares rally on hopes of GST cut; UltraTech, Ambuja gain 3%

Finance Minister Nirmala Sitharaman on Tuesday said that the government will consider a review of the 28 per cent Goods and Services Tax (GST) levied on cement.

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Gold prices rise Rs 110 to Rs 57,550; silver prices surge by Rs 100

The price of ten grams of 22-carat gold in Delhi, Bengaluru and Chennai is Rs 52,900, Rs 52,800, and Rs 53,730, respectively

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Stocks to Watch: Bharti Airtel, Hero Moto, Adani Green, Ambuja Cement, NDTV

Stocks to Watch: Airtel reported a 91.5 per cent year-on-year rise in consolidated net profit; Adani Green Energy's consolidated net profit more than doubled to Rs 103 crore in Q3

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3 more weeks to online bond platforms to register as stock brokers: Sebi

Capital markets regulator Sebi on Tuesday extended the timeline by three weeks for entities, operating as online bond platform providers, to make an application for registration as stock brokers. The extension has been given keeping in view the technical difficulties faced by these entities, the Securities and Exchange Board of India (Sebi) said in a circular. "It has been decided to grant an additional time period of three weeks commencing from February 9, 2023 (the end of three months from November 9, 2022) for making an application to obtain a certificate of registration as a stock broker under the Sebi (stock brokers) regulations," the markets watchdog said. Accordingly, the application for registration by online bond platform providers (OBPPs) as stock brokers would be made by March 1, 2023. Under the regulatory framework issued in November, Online Bond Platform Providers (OBPPs) should be companies incorporated in India and they should register themselves as stock brokers in

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Paytm hits over 3-mth high; surges 28% in 2 days on improved Q3 performance

Paytm reported adjusted Ebitda breakeven three quarters ahead of management's initial guidance of September 2023

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Gold prices rise by Rs 280 to Rs 57,440; silver prices unchanged

The price of ten grams of 24 carat gold in Delhi, Chennai and Bengaluru is Rs 57,590, Rs 58,530, and Rs 57,490

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Stocks to Watch: Tata Steel, Hindalco, JK Paper, Muthoot Fin, Adani Ports

Stocks to Watch: Tata Steel reported a consolidated net loss of Rs 2,223.84 crore in the December quarter (Q3FY23) on the back of a sharp drop in realisations in Europe

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Mehul Kothari suggests going long on Bajaj Finance, Aditya Birla Fashion

On the daily scale, Bajaj Finance is witnessing a fresh breakout which indicates a short term reversal

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Most Adani group stocks continue to fall; combined market cap declines

Shares of most of the Adani group firms ended lower on Monday, with the group companies' combined mcap witnessing a sharp fall of Rs 9.5 lakh crore after US-based short-seller Hindenburg Research's adverse report. Forex traders said the Hindenburg Research report has soured market mood towards Adani Group stocks, leading to a sharp decline in the stock prices. At the end of Monday's trading session, six of the 10 Adani group companies ended in the negative territory, with Adani Transmission slipping 10 per cent, while the shares of Adani Total Gas, Adani Power, Adani Green Energy and Adani Wilmar declined 5 per cent each. Shares of Adani Enterprises closed for the day at Rs 1,572.40, down 0.74 per cent over its previous close. Four of the Adani group companies defied the trend and settled in the positive territory with Adani Ports and Special Economic Zone closing higher by 9.46 per cent, Ambuja Cements (up 1.54 per cent), ACC (up 2.24 per cent) and NDTV (up 1.37 per cent). "The A

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Adani Enterprises' stock price has 40% more downside: NYU professor

The so-called price-to-earnings ratio for the stock has surged from 15 times earnings in the five years to 2021 to 214 times in the last two years, the professor wrote

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P&G Health soars 15% after PAT jumps 71% YoY in December quarter results

The management said that the higher PAT growth was supported by improved margin through portfolio premiumisation, healthy mix and optimization of expenses,

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Government to convert Vodafone Idea's dues into equity; stock zooms 24%

Shares of Indus Towers, too, surged 15 per cent to Rs 164.80 on the BSE

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Gold, silver prices remain unchanged; yellow metal trades at Rs 57,160

In Delhi, Kolkata, and Mumbai 1 kg of silver was trading at Rs 71,200

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Traders can adopt sell-on-rise strategy on Bank Nifty, says Ravi Nathani

According to the technical analyst, the Bank Nifty is likely to exhibit a negative bias as long as it remains below 42,850.

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Stocks to Watch: SBI, Vodafone Idea, Paytm, ITC, IndiGo, DCB Bank, Marico

Stocks to Watch: Paytm has narrowed its consolidated net loss to Rs 392 crore in Q3FY22. The company had posted a net loss of Rs 778.4 crore a year ago

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RBI rate decision, Q3 earnings to drive market trends this week: Analysts

Equity markets' focus will shift to the RBI interest rate decision scheduled this week, with investors also tracking the ongoing third quarter earnings, global trends and foreign fund trading activity, for further cues, analysts said. Brent crude oil prices and rupee-dollar movement would also drive the trends in the market. "The direction of the US market will be closely watched, but the flow of FIIs will be crucial because they have been selling heavily in the Indian market since the beginning of 2023, and it has intensified following the Adani Group crisis. "This week will see the release of Q3 earnings from companies such as Bharti Airtel, Hero MotoCorp, Hindalco and Mahindra & Mahindra as well as macroeconomic data from the United States. RBI policy, whose outcome is scheduled for February 8, will be a critical domestic event," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. Adani Group stocks have taken a beating on the bourses after the US-based ...

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