Reliance Securities

The Securities and Exchange Board of India (Sebi) on Monday imposed a penalty of ₹7 lakh on Reliance Securities for alleged lapses in complying with stock brokers regulation

Markets regulator Sebi on Monday imposed a penalty of Rs 7 lakh on Reliance Securities for non-compliance with the stock brokers' norms. It has been directed to pay the fine within 45 months, according to an order issued by Sebi. The direction came after the Securities and Exchange Board of India (Sebi) conducted an inspection of Reliance Securities, a registered stockbroker, from December 22, 2022, to January 24, 2023, to verify whether the entity compiled the stock broking activities. In its probe, Sebi found that Reliance Securities reported incorrect details in daily margin statements sent to clients in three instances. Further, the ledger balance was wrongly reported in one instance. Additionally, the regulator noted that Reliance Securities did not comply with risk-based supervision (RBS) guidelines as data for cash collateral was not captured while reporting the RBS data. "In RBS, Noticee (Reliance Securities) declared Rs 16.13 crore to the exchange for total funds availabl

Sebi has mandated brokers to retain verifiable evidence of client orders to ensure transparency and prevent unauthorised trades

Market regulator also approves application for a proposed change in control at Reliance Securities

Reliance Securities has also received approvals from the NSE, BSE, MCX, and NCDEX for transferring shares owned by existing promoter Reliance Capital to Hinduja-led Aasia Enterprises

In November last year, the Reserve Bank of India had sent the company to debt resolution after it defaulted on its loans worth Rs 24,000 crore

The move will help simplify the company's financial reporting requirements and reduce administrative costs, it said

This is part of the larger strategy to strengthen presence in the premium segment where rival Bajaj Auto and Royal Enfield have a stronghold and in which even TVS Motor Co is making rapid strides in

Lenders to Reliance Capital Ltd on Wednesday granted the fifth extension of deadline for submission of resolution plans as bidders sought more time to complete the due diligence process, sources said.

Despite the stellar run in 2021 that saw most global equity markets record healthy gains, we remain bullish on equities for 2022, says Nishant Srivastava

Gains in some of the stocks in these two segments have been phenomenal. Shares of Brightcom Group, for instance, zoomed over 2,500 per cent in 2021

Reliance New Energy Solar will acquire the shares for over Rs 1,840 crore

In a Q&A, Lav Chaturvedi says the market is still predicting that the impact of the second wave of Covid-19 cases will not be as severe as last year

Trades through mobiles accounted for a fourth of transactions on NSE in July

Half a dozen PSU stocks have gained over 15% each

They are spending Rs 2,000 per head to attract customers

Front running is a term used to describe a broker, or any other entity, carrying out trades based on foreknowledge of a big transaction to be placed

The move is prompted by the steep impairment loss reported by the consolidated entity as SsangYong Motor (SYMC), its Korean subsidiary, and Genzee, its two-wheeler entity in the US, turned in losses.

Despite the lockdown impacting volumes, lower costs drove earnings and beat expectations

Coromandel International, PI Industries may be some of the beneficiaries