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Page 317 - Business Finance

Sebi imposes Rs 60 lakh fine on 9 entities for fraudulent trading practices

Market regulator Sebi has slapped a total penalty of Rs 60 lakh on nine entities for indulging in manipulative trading in the scrip of Exdon Trading Company Ltd. Out of the nine entities, Henal C Patel, Dantara Amish Vijaykumar and Henal Hemantbhai Shah have been fined Rs 10 lakh each while others including Dhanlaxmi Lease Finance have been fined Rs 5 lakh each. These nine entities are the noticees. Sebi conducted an investigation into the trading of the scrip of Exdon between May 2013 and March 2015, and found that the entities were connected to each other. "The noticees were instrumental in establishing a price higher than the last traded price and thus contributed to increased scrip price with each of their trades. Such trades would lead to an artificial rise in the price of the scrip and the same would misguide the general public," Sebi said in an order dated May 17. Trades of the entities contributed to manipulation in the scrip price and created a misleading appearance of ...

Updated On : 20 May 2019 | 2:11 PM IST

Nickel futures fall 1.45 pc on low demand

Nickel prices eased 1.45 per cent to Rs 833.20 per kg in futures trade Monday as speculators trimmed their positions amid low demand at the spot market. On the Multi Commodity Exchange, nickel for delivery in current month declined by Rs 12.30, or 1.45 per cent, to Rs 833.20 per kg in a business turnover of 11,966 lots. Likewise, the metal for delivery in June contracts traded lower by Rs 9, or 1.02 per cent, to Rs 871 per kg in 510 lots. Analysts said, profit-booking by speculators amid low demand from alloy-makers mainly weighed on nickel futures here.

Updated On : 20 May 2019 | 2:11 PM IST

Tata Motors Ltd spikes 5.48%

Tata Motors Ltd is quoting at Rs 186.55, up 5.48% on the day as on 12:54 IST on the NSE. The stock is down 36.96% in last one year as compared to a 11.51% gain in NIFTY and a 21.92% gain in the Nifty Auto index.

Updated On : 20 May 2019 | 2:05 PM IST

ICICI Bank Ltd records impressive surge

ICICI Bank Ltd is quoting at Rs 411.85, up 5.68% on the day as on 12:54 IST on the NSE. The stock is up 42.36% in last one year as compared to a 11.51% jump in NIFTY and a 18.41% jump in the Nifty Bank index.

Updated On : 20 May 2019 | 2:05 PM IST

State Bank of India spurts 7.45%

State Bank of India is quoting at Rs 343.05, up 7.45% on the day as on 12:54 IST on the NSE. The stock is up 40.34% in last one year as compared to a 11.51% spurt in NIFTY and a 18.41% spurt in the Nifty Bank index.

Updated On : 20 May 2019 | 2:05 PM IST

REC Ltd soars more than 7%

REC Ltd is quoting at Rs 146.05, up 7.15% on the day as on 12:49 IST on the NSE. The stock is up 33.2% in last one year as compared to a 11.56% jump in NIFTY and a 22.35% jump in the Nifty Financial Services.

Updated On : 20 May 2019 | 2:04 PM IST

Indiabulls Housing Finance Ltd sees massive upside

Indiabulls Housing Finance Ltd is quoting at Rs 792.8, up 9.62% on the day as on 12:49 IST on the NSE. The stock is down 28.47% in last one year as compared to a 11.56% spurt in NIFTY and a 22.35% spurt in the Nifty Financial Services.

Updated On : 20 May 2019 | 2:04 PM IST

QCI Chairman Adil Zainulbhai, others join USISPF Board

Quality Council of India Chairman Adil Zainulbhai has joined as advisor to the US-India Strategic Partnership Forum, while Renew Power CMD Sumant Sinha and Rubrik Inc co-founder & CEO Bipul Sinha have been inducted as its board members, the US-India advocacy group said Monday. The Washington-based US-India Strategic Partnership Forum (USISPF) said with the addition of these three leaders, it continues towards its goal to strengthen business ties across the two nations at the highest level. "Both India and the US are looking to grow their economies in a sustainable manner. My goal will be to build greater partnership between companies from both the nations, as well as the two governments, in order to work towards a cleaner environment," said Sumant. India is home to some of the world's best software talent and is producing innovation across many industries. "I look forward to working with USISPF and its members to increase opportunities between the US and India to drive the future .

Updated On : 20 May 2019 | 2:01 PM IST

Travelling for vacation or work: Smart tips that will save you money

The needs of a business traveller vis-a-vis a leisure traveller are extremely different. People travelling for leisure generally have an ample number of days for their trip and plan for multiple things like stay, recreational activities, entertainment, food, shopping, etc. While those travelling on a business plan for an extremely focused trip which has a limited number of days with extremely less travelling. Their trip mostly consists of travelling for business meetings, seminars or conferences.However, the one thing that is common with both the business as well as the leisure traveller is their need to save money on their overall travel costs. While the leisure traveller wants to enjoy more by paying less, the business traveller would want to ensure that his trip is comfortable yet economical.Travelling can be expensive, but with the right strategy you can bring down the cost. When it comes to saving on travel costs, the 'Bajaj Finserv RBL Bank SuperCard' helps travellers achieve ...

Updated On : 20 May 2019 | 2:01 PM IST

Silver slides 1.07% on low demand

Silver prices dipped 1.07 per cent to Rs 36,185 per kg in futures trade Monday tracking weak cues from the domestic market. On the Multi Commodity Exchange, silver for delivery in July contracts fell by Rs 392, or 1.07 per cent, to Rs 36,185 per kg in a business turnover of 29,849 lots. The white metal for delivery in September contracts was trading lower by Rs 427, or 1.15 per cent, to Rs 36,666 per kg in 1,915 lots. Traders said off-loading of positions by participants on the back of a weak domestic trend mainly dented silver prices here. Globally, however, the precious metal was trading marginally higher by 0.08 per cent to USD 14.40 an ounce in New York.

Updated On : 20 May 2019 | 1:56 PM IST