Page 2 - Front-running

SC upholds Sebi order against 3 defaulters in 'front-running' cases

The Supreme Court has upheld a 2011 order by Securities and Exchange Board of India (Sebi) giving it a boost while prosecuting 'front running' cases. Front running means buying or selling of securities ahead of a large order so as to benefit from the subsequent price move. Sebi's powers in the matter came under cloud after the Securities Appellate Tribunal (SAT) in 2012 struck down the regulator's order against Dipak Patel, an employee of a Mauritius based fund manager and his relatives, who executed trades based on information passed on by him. SAT's position was that the front running rules could not invoked for persons other than the intermediary. Allowing Sebi's appeals on Wednesday, the bench of NV Ramana and Ranjan Gogoi said, "Taking into consideration the facts and circumstances of the case before us and the law laid down herein above and SEBI v. Kishore R. Ajmera (Supra) can only lead to one conclusion that concerned parties to the transaction were involved in an apparent ...

Devangshu Datta: Bullish attitude, but scepticism remains

The bright side is that tax collections are up in the April 2016-January 2017 period

Devangshu Datta: Post-Budget forecast: Cloudy with some sun

Impending GST implementation might see tax collection projections go awry

Devangshu Datta: The Trump 'remote control' effect

More than Budget 2017, the new US President's policies might dictate India's economic sentiments

Devangshu Datta: Optimistic but bracing for impact

With the Budget round the corner there are expectations of sops

Devangshu Datta: A watershed for the wrong reasons

The note ban is pulling down IIP. There will likely not be sufficient cash in the system for a year. Rural India will suffer as there is no chance that telecom networks and banks can be set up in these areas for cashless transactions within 6 months

Devangshu Datta: Opportunity ahead... if you have patience

Due to a badly planned demonetisation drive, there's technically a bank run in India

Devangshu Datta: Prospect of bear market looms over India

Between Trump's whimsies and the demonetisation of Rs 500, Rs 1,000 notes, the Indian market and the common man may have to sweat it out

Devangshu Datta: Unpredictability could be a big factor

The lunar nature of religious holidays leads to difficulties in calculating consumption year-on-year. GST implementation could be delayed again. In the US, the presidential elections are turning out to be closer than expected

Devangshu Datta: Confounding cross connections

Contradictions in Indian economic data mean that flatlining and joblessness exist side by side with signs of strong consumption

Devangshu Datta: A lot hinges on the Indo-Pak situation

Market trends for a while will depend on how the two countries negotiate ties. If that heads towards normal, Nifty might even hit 9,000

Devangshu Datta: Trundling along without much progress

Weak US data dampen chances of a rate hike by the Federal Reserve. The European Central Bank has also maintained status quo. And the market consensus is that the Reserve Bank of India may hit the pause button too

Devangshu Datta: Poised to capitalise on a positive first quarter

A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels

Devangshu Datta: Don't uncork the bubbly just yet

Investors have waited six quarters for signs of the proverbial green shoots that indicate a turnaround in the business cycle

Devangshu Datta: A contentious saga of tax reform ends

The finance minister reckons the GST could be rolled out by April 2017. This might be optimistic, given the amount of legislative coordination required. Whenever GST does come into force, some chaos is guaranteed

Devangshu Datta: Dealing with known unknowns

Uncertainty is almost guaranteed in post-Brexit UK and EU. Something similar is expected in the US if Trump becomes President. Back home, what is certain is that GST will either be passed or shelved. A super-normal monsoon seems to be the only near-definite possibility

Devangshu Datta: Earnings report card a deciding factor

That, along with policy meetings of the central banks of a few countries, will likely set the trend for the markets for the rest of the year

Devangshu Datta: A bullish yet unpredictable situation

In terms of momentum and technical trends, the market is upbeat. But Brexit and the US Federal Reserve may upset calculations

Devangshu Datta: Repercussions of Brexit and Rexit

While the UK will possibly go into recession, the bigger fear is copycat referendums from other EU nations. Back home, Raghuram Rajan's successor at Mint Road will have his or her work cut out

Devangshu Datta: A buoyant mood that could turn sour

The market is back to being optimistic. A good monsoon, prospects of an early passage of the Goods and Services Tax Bill, along with low energy prices and a dovish Fed, will keep spirits up. But niggling worries could play party pooper