Page 2 - Securities

India's holding of American securities hits high of $241.9 bn in June

India's holding of US government securities touched a high of USD 241.9 billion in June as the country continued to increase its exposure for the third straight month. Japan was the top holder with securities worth over USD 1.11 trillion followed by China at the second spot with a holding valued at USD 780.2 billion in June, according to the latest data released by the US Treasury Department. At the third place was the United Kingdom with an exposure of USD 741.5 billion ahead of Luxembourg at the fourth position with a holding to the tune of USD 384.2 billion. Among the countries and jurisdictions, India was at the 12th place owning American government securities worth USD 241.9 billion in June, higher than USD 237.8 billion value recorded in May. As per the data, India's holding is the highest in the last one year and it was at USD 237.8 billion in May 2024. In April this year, it touched USD 233.5 billion declining from USD 240.6 billion in March. In June last year, the exposur

Sebi proposes amendments to ease compliance for entities with listed NCDs

Capital markets regulator Sebi on Friday proposed amendments to ease the compliance requirements for entities with listed non-convertible securities. This move will ease the cost of compliance for participants in the financial sector, as announced by the government in FY 2023-24 Budget. In its consultation paper, Sebi proposed aligning the approval and authentication process for financial results of entities with listed non-convertible securities to that of equity-listed entities. This will streamline the procedures, ensuring that financial results are approved by board of directors and signed by a designated official, similar to the requirements for equity-listed entities. The regulator also proposed to align the provisions of disclosure rules for fraud and default by key managerial personnel in entities with listed non-convertible securities with those applicable to equity-listed entities. As per the consultation paper, Sebi said it will also streamline the timeline for notifyin

India, Russia explore dynamic rupee-rouble rate to overcome trade issues

RBI deputy governor T Rabi Sankar and top officials of some public sector banks are visiting Moscow for a meeting of the India-Russia Joint Business Council for banking and finance

Sebi vs Hindenburg: The fight has moved away from Adani, the initial target

The Sebi chief has 'strongly' denied Hindenburg's fresh allegations terming it 'baseless insinuations' which is 'devoid of any truth'

Elcid Investments settles disclosure lapses case with Sebi, pays Rs 17.3L

Elcid Investments Ltd has settled with markets regulator Sebi a case pertaining to failure to maintain a structured digital database and disclosure lapses after paying Rs 17.31 lakh towards settlement amount. This came after Elcid Investments filed an application with the Securities and Exchange Board of India (Sebi) requesting for settlement of the adjudication proceedings for the alleged violations through a settlement order. "The instant adjudication proceedings initiated against the applicant vide show cause notice... dated October 31, 2023 is disposed of," Sebi said in its settlement order. In its show cause notice, the regulator alleged that Elcid Investments failed to maintain a structured digital database during the investigation period. Also, it failed to disclose Jatin Saraiya's (part of the promoter group of Elcid Investments) joint shareholding of 50 shares with his spouse for the quarters ended on December 2021 to June 2022. This led to the alleged violations of inside

Sebi junks rule to freeze demat a/cs, eases MF folio norm for investors

Capital markets regulator Sebi on Monday eased rules for existing investors with abolishing the norm of freezing demat accounts and mutual fund folios in case of failure to provide a 'choice of nomination'. Additionally, investors holding securities in physical form would be eligible for receipt of any payment, including dividend, interest or redemption payment as well as to lodge grievances or avail any service request from the RTA (Registrars to an Issue and Share Transfer Agents) even if they did not submit 'choice of nomination'. Earlier, the regulator set June 30, 2024, as the deadline for all existing individual mutual fund holders to nominate or opt out of nomination. Failure to comply with the rule could have led to the freezing of their accounts for withdrawals. Based on representations received from the market participants, for ease of compliance and investor convenience, Sebi has decided that for existing investors or unitholders, non-submission of 'choice of nomination'

Sebi bans 12 cos from securities market for V Marc stock manipulation

Sebi on Thursday barred 12 entities, including promoter of V Marc India Ltd, from the securities market for engaging in a fraudulent scheme to manipulate volumes and price of the company's shares. Additionally, the regulator impounded wrongful gains of Rs 6.38 crore made by some of the entities from the manipulative scheme, according to an interim order. This case primarily deals with fraudulent and manipulative trading in the scrip of V Marc India Ltd, listed on NSE's SME segment, prima facie orchestrated by the promoter and company management, along with connected parties. In its order, Sebi, prima facie, found that V Marc's promoter and MD Vikas Garg and Sandeep Kumar Srivastava, former Whole Time Director of the company-- engaged the services of Prijesh Kurani to 'operate the market'. It further noted that Kurani, in turn, in addition to using his own and his connected entities' trading accounts, engaged accounts of persons connected to Garg to manipulate the scrip. Further, G

Puducherry govt to raise Rs 200 crore through auction of dated securities

The Puducherry government has offered to sell 12-year dated securities to the public in the form of stocks by auction for an aggregate amount of Rs 200 crore, a release from the Commissioner-cum-Secretary to Finance of Puducherry administration Ashish Madhaorao More said. The auction would be conducted by the Reserve Bank of India's Mumbai office (Fort) on January 9. Securities will be issued for a minimum nominal amount of Rs 10,000 and in multiples of Rs 10,000 thereafter. Interested persons, firms, companies, corporate bodies, institutions, Provident Funds, trusts, regional rural banks and cooperative banks may submit a single consolidated non-competitive bid on behalf of all its constituents in electronic format on the Reserve Bank of India Core banking solution (E-Kuber), available on the website www.rbi.org.in on January 9 between 10.30 am and 11 am, the release said. The result of the auction will be displayed by RBI Mumbai (Fort) on January 9 on the website. Successful ..

Realtor Anant Raj plans to raise Rs 500 cr through issue of securities

Realty firm Anant Raj Ltd on Saturday announced plans to raise up to Rs 500 crore through issue of securities to institutional investors. The company will seek shareholders' approval through a special resolution. It did not disclose the objective of the fund raising. In a regulatory filing, Anant Raj Ltd said the board of directors has inter-alia considered and approved "issuance of equity shares or other convertible securities by way of Qualified Institutions Placement (QIP), for an aggregate consideration not exceeding Rs 500 crore." The board also approved the notice of Extraordinary General Meeting (EGM) for seeking approval of shareholders by way of special resolution for approval for issuance of the securities. Recently, Anant Raj announced plans to launch three new housing projects in Gurugram and Andhra Pradesh in the next 6-9 months with an estimated sales value of Rs 4,000 crore, as it seeks to expand business amid strong demand for residential properties. Anant Raj Ltd

SEBI report: Number of appeals filed in SAT rose to record 1,192 in FY23

The Securities and Exchange Board of India (Sebi) investigated 144 cases in the financial year 2022-23 (FY23) compared to 59 in the previous year

Stay put in investment-worthy stocks for at least a year: Kisan R Choksey

Making money fast is not possible in the stock market; one needs to hold the stock/shares for at least a year,

Rs 414 cr paid to 34,497 Karvy clients from NSE's investor protection fund

The government on Monday said Rs 414.24 crore has been paid to a total of 34,497 clients of Karvy Stock Broking Ltd (KSBL) from the National Stock Exchange's (NSE) investor protection fund till March 2023. In addition, NSE along with other market infrastructure institutions (MIIs) have also monetised the mutual fund distribution business of KSBL, and funds amounting to Rs 150 crore have been realized and the same is being utilized for distribution to clients of KSBL, Minister of State for Finance Pankaj Chaudhary said in a written reply to Lok Sabha. The case pertains to Karvy unauthorisedly transferring securities of its clients in one of its demat accounts by misusing Power of Attorney (PoA) given to its clients. NSE and BSE suspended trading terminals of KSBL from December 2, 2019 and declared it a defaulter on November 23, 2020 for misusing clients' funds and securities. Moreover, NSE has declared 32 stock brokers as defaulters in the past five years for failing to comply wit

12 states raise record Rs 35,800 crore through securities auction

In the largest-ever state government securities auction so far this fiscal, 12 states on Tuesday raised Rs 35,800 crore at an average annualised price of 7.74 per cent. The current drawdown is 15 per cent higher than the amount indicated for the week in the auction calendar and 66 per cent higher than the year-ago period. This is the penultimate week in the borrowing calendar for the states this fiscal. Despite increased supply, the states were forced to offer better yields to investors as the weighted average cut-off rose by 7 bps to 7.74 per cent over the past week's auction, according to an analysis by ratings agency Icra. The agency also noted that the weighted average cut-off rose by 7 bps in spite of the weighted average tenor declining mildly to 14 years from 15 years. This also had the spread between the 10-year state bonds and the yield on the 10-year gilt widening to 43 bps today from 34 bps last week.

Global body Iosco flags challenges to operational independence

Iosco says Sebi, 4 other securities regulators in-line with all its principles but one

MSCI receives feedback; to do free float review of Adani Group securities

Index provider MSCI said on Thursday it has received feedback from a range of market participants concerning specific securities associated with the Adani Group

Sebi imposes securities market ban on 8 entities for misusing client funds

Sebi has barred 8 entities from the securities markets for up to seven years and imposed penalties totalling Rs 11.5 crore on them in a case related to misuse and diversion of clients' funds

Beware of information paucity and liquidity risk in unlisted shares

Even seasoned investors should bet only 5-10% on such securities

Credit Suisse to pay $495 mn to settle case linked to 2008 financial crisis

The Swiss bank said in a statement on Monday that it's "fully provisioned" for the payment, which will resolve claims tied to more than $10 billion in such securities

Sebi issues framework to prevent misuse of clients' securities by brokers

Capital markets regulator Sebi on Monday put in place a new framework which will prevent misuse of clients' securities and funds by their stock brokers. Under the framework, depositories need to validate the transfer instruction for pay-in of securities from client demat accounts to trading member pool accounts against obligations received from the clearing corporations. This should be done prior to executing actual transfer of the securities for pay-in from client demat account to trading member (TM) pool account, the Securities and Exchange Board of India (Sebi) said in a circular. The framework, applicable from November 25, is aimed at further mitigating the risk for clients' securities, especially those given towards delivery/settlement obligations. "Depositories, prior to executing actual transfer of the securities for pay-in from client demat account to TM Pool account, shall validate the transfer instruction received through any of the available channels for the purpose of .

What could India's inclusion into major global bond indices mean?

The possibility of India being included in global bond indexes this year has led to increased buying in a set of local securities