IndusInd Bank may get added to MSCI index on higher foreign room
[ad_1] With foreign room crossing 15 per cent, IndusInd Bank will be eligible for inclusion in indices that have a large amount of passive tracking assets, said analysts. The bank’s foreign shareholding has decreased to 62.61 per cent for the quarter ended September, meeting the minimum headroom requirement of 15 per cent for global index […]
FPI remittances come under taxman’s lens
[ad_1] Foreign portfolio investors (FPIs) have received a slew of notices on foreign remittances made outside India under Section 133 (6) of the Income Tax Act, said two people in the know. While FPIs have received such notices in the past, the number has gone up significantly this year. In a first, tax authorities have […]
ESAF Small Finance Bank gets SEBI nod for IPO
[ad_1] Esaf Small Finance Bank Ltd has received final observation from Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company had re-filed preliminary IPO papers with SEBI in July 2023. The IPO includes a fresh issue up to ₹486.74 crore and an offer for sale of […]
Govt to sell up to 7% shares in HUDCO
[ad_1] The government on Tuesday said that it will divest up to 7 per cent of its equity in Housing & Urban Development Corporation (HUDCO) on October 18-19. At the floor price of ₹79, the government will get ₹553 crore. The floor price shows 12 per cent discount on Tuesday’s closing price of ₹89.92. With […]
MCX faces teething trouble in new software launch
[ad_1] The launch of the new commodity derivatives platform by MCX faced teething-trouble with connectivity issues, delay in price updates and receiving trade confirmation. Sensing an opportunity to attract trading volumes, the rival National Stock Exchange launched 13 new commodity derivatives contracts including gold and base metals on Monday. With this launch, NSE offers 28 […]
HDFC Bank trades weak ahead of Q2 numbers
[ad_1] – Shares of industry leader HDFC Bank opened lower today and were trading 0.4-0.5 per cent down, ahead of the lender’s Q2 financial results, set to be declared post market hours on Monday. HDFC Bank and Federal Bank are kick-starting the Q2 results season for the banking sector. As per provisional numbers declared so […]
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Overseas Indian start-ups call on SEBI, FinMin for India listing
[ad_1] A clutch of start-ups incorporated overseas have knocked on the doors of the Finance Ministry and the Securities and Exchange Board of India (SEBI) to allow them to list in India. There have been several discussions on the matter in the past few weeks involving start-up founders, bankers, lawyers and officials from various government […]
India to add 56.6 mtpa of crude oil refining capacity by 2030
[ad_1] India, the world’s fourth largest refiner, will add as much as 56.6 million tonnes per annum (mtpa) of crude oil refining capacity in the next seven years of which 84 per cent will be through brownfield expansion. At present, the world’s third largest crude oil consumer has a cumulative refining capacity of almost 254 […]
Sebi tweaks anti-money laundering guidelines
[ad_1] The Securities and Exchange Board of India (SEBI) on Friday tweaked guidelines pertaining to anti-money laundering standards, whereby partners holding a 10 per cent stake in a firm will come under the definition of beneficial owners. Earlier, the requirement was 15 per cent. The development comes after the government amended the Prevention of Money […]
Govt framing eligibility norms for direct listing of firms overseas
[ad_1] The proposed rules for enabling direct listing of Indian companies in overseas stock exchanges will specify an eligibility criteria for entities availing such a facility. The criteria could include minimum period of operations for a company, but unlikely to stipulate adherence to any minimum governance standards for any overseas float, official sources said. The […]