 "broker, stock market")
Something smells phishy! Sniffing out scams on social media apps
In its effort to uncover scams, manipulations, and front-running activities, the capital markets regulator has expanded its investigations by including the analysis of Cloud data from Gmail, Facebook, YouTube, Instagram, Telegram, WhatsApp, and other similar applications (apps). The Securities and Exchange Board of India already tracks messages through messaging apps in its investigations. However, some industry experts note that this is the first time the regulator has specifically mentioned these social networking sites while soliciting applications for empanelled agencies to provide digital forensic services. These agencies, with empanelment valid for one year, assist in the acquisition, extraction, and analysis of digital data for enforcement purposes. Last year, eight such agencies were selected. This time, the watchdog has also reduced the minimum required experience in the field from five years to three years.
Nifty teeters on edge: May slide to 19,100 over profit-booking
The National Stock Exchange Nifty experienced its third consecutive weekly decline on Friday, fuelled by concerns about India’s inflation trajectory and weak global cues. Analysts believe that some profit-booking could occur in the Nifty, particularly near the critical level of 19,420, potentially causing the index to move towards the 19,100 range. On the upside, 19,600 is expected to pose a significant resistance.
A grey area: Subdued GMP for TVS Supply Chain
The grey market premium for TVS Supply Chain Solutions remains below 10 per cent. The supply chain solutions provider’s initial public offering of Rs 880 crore concludes on Monday. The issue has been fully subscribed to. The company has set a price range of Rs 187 to Rs 197 per share, consisting of a fresh issue portion of Rs 600 crore and an offer for sale of Rs 280 crore. The funds from the fresh issue portion will be utilised to repay debts.
