SEBI punch holes in Punit Goenka’s defence on siphoning off funds at Zee
The Securities and Exchange Board of India has termed Punit Goenka’s claims made to the Securities Appellate Tribunal (SAT) in the matter related to siphoning off funds from Zee Entertainment Enterprises Ltd (ZEEL) as “patently false” and “unsubstantiated by any documentary evidence.” The counter affidavit filed by SEBI, seen by businessline, revealed that about ₹200 […]
FPIs stay glued to Indian equities; infuse ₹16,405 crore in June so far
Foreign portfolio investors (FPIs) continued to invest in Indian equities for a fourth straight month as they injected ₹16,405 crore in June so far on the country’s strong economic rebound and positive growth outlook. FPI flows touched a nine-month high of ₹43,838 crore in equities in May, ₹11,631 crore in April, and ₹7,936 crore in […]
SEBI ends permanent Board seats in listed companies
From April 1, 2024, promoter directors of listed entities or their related persons cannot enjoy “Board Permanency” with the market regulator SEBI now amending the listing regulations to mandate periodic shareholders approval — once in five years — for all categories of directors from that date. This new requirement is expected to substantially address the concerns […]
SEBI directs online bond platforms to stop selling unlisted securities
SEBI on Friday directed online bond platforms (OBPs) to desist from offering debt securities that are not listed or are not proposed to be listed, in contravention of their regulatory framework. According to SEBI, certain OBP are “offering unlisted bonds/other products on a separate platform/web site and have not divested of such offerings” and certain […]
IKIO Lighting shares debut at nearly 38 per cent premium
Shares of LED lighting solution provider IKIO made a remarkable market debut on Friday, listing with a gain of nearly 38 per cent, against the issue price of Rs 285. The stock made its debut at Rs 391, a jump of 37.19 per cent from the issue price on the BSE. It later zoomed 42.52 […]
MFs may have to offload ₹4,500 cr of HDFC Bank shares post merger
As the merger of HDFC with HDFC Bank inches closer, mutual funds (MFs) have to offload shares worth ₹4,500 crore in HDFC Bank post-merger to meet the SEBI cap of 10 per cent exposure to single stock. The merger of HDFC with HDFC Bank is close to becoming reality with most regulators giving their nod. […]
Thermal coal prices may drop further as supplies improve
Thermal coal prices have dropped over 60 per cent to near a two-year low, and the decline will likely continue in view of supplies normalising and improving in 2023. “Average annual coal prices are forecast to decrease in 2023 compared to 2022 but remain well above their five-year average,” the World Bank said in its […]
“Over 90% return in international portfolio comes from picking the right geography and asset class”
In this interview with businessline, Benedek Vörös, Director, Index Investment Strategy at S&P Dow Jones Indices, shares his insights on international investing, how equal-weighted indices are superior to market-cap weighted indices and more. Excerpts from the interview: Does global diversification work, especially with markets being so inter-connected? We have done a whole range of research […]
Broker’s call: Ujjivan SFB (Buy)
Target: ₹42 CMP: ₹38.9 Ujjivan SFB hosted an analyst meet recently, in which it showcased the heads of the asset businesses, liabilities, credit and collections, and technology verticals. The management highlighted its plans to build a mass-market bank with a focus on the aspiring middle class. It also outlined its endeavour to diversify further into […]
Zee Entertainment shares fall over 6.50%
Shares of Zee Entertainment Enterprises fell over 6.50 per cent in morning trade on Tuesday after SEBI banned Essel Group chairman Subhash Chandra and ZEEL’s Punit Goenka from holding any directorial or key managerial position in any listed firm. The stock tumbled 6.28 per cent to ₹182.60 apiece on the BSE after a weak beginning. […]