Page 100 - Sebi

Bull market ageing, could lose steam from here, says Shankar Sharma

A 'Bull', he said, can at best do a short sprint and needs occasional breaks / pauses to catch its breath before charging again

Sebi should not become SBI, must complete Adani probe before polls: Cong

The Congress on Wednesday hoped that the SEBI tasked with probing charges of alleged stock manipulation by the Adani Group would not seek further extension for presenting its report in the Supreme Court to push the deadline past the election date. Congress general secretary Jairam Ramesh said the Securities and Exchange Board of India (SEBI) should not become another SBI, which is "too scared to touch the sacred". In a post on X, Ramesh said the Hindenburg Research had levelled grave allegations of stock manipulation and violation of securities laws on the Modani group last year. The Adani Group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements. Ramesh said, "The SEBI was tasked with submitting a report on these allegations by 14th August, 2023. After it demanded repeated extensions, the Supreme Court gave SEBI time till today, April 3rd, 2024. "We look forward to the SEBI submitting its report to the Court today, and we hope it does

Indian markets' high valuation a sign of optimism: Sebi chairperson

Says rising tax collection, profit growth expectations show country's 'momentum and velocity'

Small cap companies set to erase losses sparked by froth warnings

A eight-day rally has put the Nifty Smallcap 250 Index on course for reclaiming the Feb. 27 level when the securities regulator flagged the risk of a potential bubble in the smaller companies

India commanding higher valuations on investors' optimism, trust: Buch

Sebi chairperson Madhabi Puri Buch on Tuesday said the Indian capital markets are commanding higher valuations because of foreign investors' optimism and trust in the country. She said at 22.2, the ratio of price to earning multiple in the Indian market is higher than the average of many indices around the world. "Yes, some people say that we are an expensive market but still why is the investment coming? Because this is a reflection of the optimism and the trust and faith that the world has in India today that we are commanding the kind of multiples in our markets," she said at a CII event on corporate governance here. A few weeks ago, Buch had flagged concerns on high valuations in segments of small and midcap stocks, stating that it could be becoming into a bubble. Buch said she meets foreign investors regularly as part of her mandate and has seen an increased interest in India among them because of the velocity which the country's economy has got after years of high speed ...

Sebi launches SCORES 2.0 to enhance investors' complaint redressal system

Markets regulator Sebi on Monday launched the new version of SCORES in a bid to strengthen the investor complaint redressal mechanism by introducing auto-routing of complaints and monitoring such grievances by designated bodies. SEBI Complaint Redress System (SCORES) is an online system where investors in the securities market can lodge their complaints through web URL and an app. It was launched in June 2011. "The new version of SCORES strengthens the investor complaint redress mechanism in the securities market by making the process more efficient through auto-routing, auto-escalation, monitoring by the designated bodies and reduction of timelines," Sebi said in a statement. Sebi said that investors can lodge complaints only through a new version of SCORES from April 1, 2024. In the old SCORES, investors would not be able to lodge any new complaint, however, investors can check the status of their complaints already lodged in old SCORES. Further, the disposed of complaints filed i

Selecting a REIT: Factor in capital gains and dividend payouts

The Indian REITs Association, a newly formed umbrella body, has meanwhile requested Sebi to classify REITs as equities and petitioned RBI to allow banks to lend to REITs

Ahead of SCORES revamp on April 1, complaint resolution shows an uptick

Number of complaints dipped 14 per cent month-on-month

Lot of 'onion peeling' for attaining global first: SEBI chief Puri on T+0

Attaining the global first involved a lot of problem-solving and personal discomforts, SEBI chairperson Madhabi Puri Buch said on Saturday giving the analogy of "onion peeling" for the achievement. Speaking at the annual convocation of the Indian Institute of Management Ahmedabad (IIMA), Buch said the current generation of Indians is on its way to seeing the "high noon" of the new India. "My colleagues often tell me that problem-solving with me is like peeling an onion. It makes everybody cry in the process. But by the time you are done, peeling layer after layer after layer of the onion, you suddenly realise there is no problem left," Buch said while addressing students of IIMA as the chief guest of the 59th annual convocation. Stock exchanges BSE and NSE on Thursday launched the beta version of T+0, or same-day trade settlement on an optional basis for select stocks, which will offer investors an option to transact in 25 securities in T+0 settlement. "When India became the first

Ecos (India) Mobility files draft paper with Sebi to mop up funds via IPO

Chauffeur-driven mobility provider Ecos (India) Mobility & Hospitality Ltd has filed preliminary papers with capital markets regulator Sebi to garner funds through an initial public offering (IPO). The maiden public issue is entirely an offer for sale (OFS) of 1.8 crore equity shares by promoters -- Rajesh Loomba and Aditya Loomba -- with no fresh issue component, according to the draft red herring prospectus (DRHP) filed on Thursday. At present, promoters and promoter group entities hold 100 per cent stake in the company. Since it is an OFS, the Delhi-based firm will not receive any proceeds from the IPO and the money will go to the promoters selling shares. The company has been providing chauffeured car rentals (CCR) and employee transportation services (ETS) to corporate customers for more than 25 years. It operates a fleet of more than 9,000 vehicles from economy to luxury cars. It also provides specialty vehicles such as luggage vans, limousines, vintage cars and vehicles for

March 31 deadline: Relief for mutual fund investors on re-KYC directive

While investors do not have to redo the KYC, they still have to validate their mobile number/email ID per the KYC records

Sebi cancels merchant bank registration of Karvy Investor Services

Capital markets regulator Sebi on Thursday cancelled the registration of Karvy Investor Services Ltd (KISL) as a merchant banker for breach of eligibility criteria. The order came after the Securities and Exchange Board of India (Sebi) conducted an inspection of Karvy Investor Services during March 15-17, 2023 and in the onsite inspection, the regulator found that the merchant banker was not functioning or operational both at the registered as well as in the correspondence address. Subsequently, the regulator had continued the inspection and found that Karvy Investor Services did not have the required infrastructure. "...by not having necessary infrastructure like adequate office space, equipment etc. and minimum two employees having the experience to conduct the business of merchant banker and having a director who is involved in a litigation connected with the securities market which has an adverse bearing on the business of the applicant and by not being fit and proper person, ..

Faster funds, more flexibility: How T+0 settlement cycle benefits investors

T+0 is currently in a beta phase. This means it's only being implemented for a limited number of stocks (around 25) and with a select group of brokers.

Crizac files IPO papers with Sebi for Rs 1,000 cr, consists entirely of OFS

Student recruitment solution provider Crizac Ltd has filed preliminary papers with markets regulator Sebi to garner Rs 1,000 crore through an initial public offering. The initial public offering (IPO) is entirely an offer for sale (OFS) by promoters, Pinky Agarwal and Manish Agarwal, with no fresh issue component. The OFS consists of sale of equity shares worth Rs 841 crore by Pinky Agarwal and up to Rs 159 crore by Manish Agarwal. The offer includes a reservation for subscription by eligible employees, according to the draft red herring prospectus (DRHP) filed on Tuesday. Since the issue is an OFS, Crizac will not receive any proceeds from the IPO. The Kolkata-based company offers international student recruitment solutions to global institutions of higher education in the United Kingdom, Canada, the Republic of Ireland, Australia and New Zealand. Crizac has established partnerships with leading universities in the UK and is a major player in student recruitment from India to the

P N Gadgil Jewellers files papers with Sebi to garner Rs 1,100 cr via IPO

Jewellery retail chain P N Gadgil Jewellers Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,100 crore through an initial public offering (IPO) to fund its expansion and pare debt. The Maharashtra-based company's proposed IPO is a combination of a fresh issue of equity shares worth up to Rs 850 crore and an offer for sale (OFS) of equity shares to the tune of Rs 250 crore by a promoter SVG Business Trust, according to the draft red herring prospectus (DRHP). At present, SVG Business Trust holds 99.9 per cent stake in P N Gadgil Jewellers. Of the IPO proceeds of Rs 850 crore, a total of Rs 387 crore will be utilised for the funding of expenditure towards setting up of 12 new stores in Maharashtra, Rs 300 crore for payment of debt, besides a portion will also be used for general corporate purposes. As on February 29, 2024, the company had total outstanding borrowings of Rs 377.45 crore, as per the draft papers filed last week. P N Gadgil Jewellers

Long-duration funds: 6-12 months for tactical, 10+ years for long term

Those with a medium-term horizon run the risk of getting caught in a rising rate cycle

Sebi bans two persons from market for 3 years, slaps Rs 77 lakh penalty

Sebi on Tuesday barred two individuals from the securities market for three years and imposed a penalty of over Rs 77 lakh on them for their involvement in front-running. Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information has been made available to its clients. Those restrained by the Securities and Exchange Board of India (Sebi) are -- Rohit Mankotia, who was employed in Radico NV Distilleries, and his mother Shila Devi. Further, Mankotia was on deputation to Sapphire Intrex Ltd (Big Client) and his work is related to technical analysis of stocks for Sapphire. Sapphire is the promoter of Radico Khaitan Ltd (RKL) and held 33.95 per cent equity shares of RKL, as per Sebi order. Additionally, the two persons have been directed to disgorge Rs 38.8 lakh within 45 days and the same will be credited into the Investor Protection and Education Fund (IPEF). In its 65-page orde

Creative Graphics Solutions India's Rs 54 cr IPO to open on March 28

Integrated packaging ecosystem player Creative Graphics Solutions India Ltd on Friday said its Rs 54.4-crore initial share-sale will open for public subscription on March 28. The public issue will conclude on April 4 and the bidding for anchor investors will open for a day on March 27, the company said in a statement. After the completion of the Initial Public Offering (IPO), shares of the company will be listed on the NSE's Emerge -- a platform for small and medium enterprises. The Noida-based company's IPO comprises a fresh issue of 64 lakh equity shares worth Rs 54.4 crore at the upper end of the market. The price band for the issue has been fixed at Rs 80-85 per share. Proceeds from the IPO will be used to meet working capital requirements of the company, repay debt, support working capital expenditure, fund inorganic growth through unidentified acquisition and general corporate expenses. Creative Graphics specialises in manufacturing flexographic printing plates and serves it

Our small, midcap portfolios haven't participated in the rally: Marcellus

Given the macroeconomic strengths, the market is pricing in a reasonable earnings growth and hence justifying current valuations, Pramod Gubbi of Marcellus Investment Managers said in this interview

Sebi directs mutual funds to stop inflows into ETF-based overseas schemes

Sebi and some of the MFs have made representations to the Reserve Bank of India (RBI) seeking new limits but the central bank is yet to take a call