The Securities and Exchange Board of India (Sebi) has approved 'light-touch' rules for passive mutual funds, which will make it easier for funds to be launched and traded on stock exchanges. This move will give mutual fund firms more flexibility and boost competition in the industry. Sebi has also proposed raising the investment limit for angel funds to Rs 50 crore and introduced new rules for insider trading in mutual funds, which will be effective from Nov 1, 2024. In addition, the ED has seized foreign assets belonging to Axis Mutual Fund in a front running case, while Sebi has also introduced new valuation regulations for mutual funds.
Hindustan Unilever Limited (HUL) has recently separated its ice cream business, with a valuation exercise already completed. However, the move has faced complications as a panel formed by HUL to evaluate the prospects of this business has discovered that softy ice cream mix is subject to an 18% GST. In addition, a video showing tampering of Amul ice cream has resurfaced, causing concerns for GCMMF. These developments, along with HUL's earnings and FII outflows, have contributed to a fall in the markets for the fourth day in a row. Despite this, there is a silver lining as the Sensex has rebounded, with FMCG seeing growth and Adani Energy receiving a SEBI notice for its shareholding categorization.
Adani Group is under scrutiny for alleged violations of disclosure norms concerning a US bribery case and the subsequent cancellation of major deals by Kenya. While the conglomerate has denied any involvement in the case, stock exchanges have sought explanations and experts believe that the Securities and Exchange Board of India (SEBI) may launch an investigation. The allegations, which include a criminal indictment and a civil complaint, could have significant consequences for Adani Group's reputation and access to international markets.
With the approval of the Hyundai Motor India IPO by Sebi and a debut share price below the IPO price, the company has announced plans for significant growth and expansion. This includes exporting electric vehicles to South Africa, building a mega test center in Telangana, and launching full EV models such as the Creta EV. Additionally, they will also be investing in upgrading their Tamil Nadu plant and establishing a hydrogen innovation center at IIT Madras. This move showcases Hyundai's commitment to investing and modernizing in India, which will have a significant impact on the automotive industry.
The Securities and Exchange Board of India (Sebi) has implemented a new rule for credit of bonus shares in demat accounts of investors, to be in force from October 01, 2024. NBCC's bonus share issue's record date is Monday, October 07, 2024, with the Ex Bonus Date also on the same day. However, since all stocks in India now follow T+1 settlement cycle, only those investors who have bought NBCC shares latest by Friday, October 04, 2024 will be eligible for the bonus issue. Stay updated and follow News24 for the latest news and updates on the NBCC bonus share issue.
As the Indian capital market continues to thrive, four companies from the Delhi National Capital Region have filed draft papers with the Securities and Exchange Board of India (SEBI) to raise over ₹2,300 crore through IPOs. These companies, including Varindra Construction, Solarworld Energy Solutions, Viney Corporation, and Aditya Infotech Ltd., have seen a significant increase in IPO filings this year. With the success of their IPOs, these companies aim to raise capital for expansion and repayment of debt.
In a move to add depth and variety to India's investment landscape, the Securities and Exchange Board of India (SEBI), in its board meeting, announced the introduction of a new asset class: Mutual Funds Lite (MF Lite). This new investment product aims to provide investors with a professionally managed and well-regulated option for higher ticket size investments. The relaxed framework for entities launching passive mutual fund schemes includes hiving off passive schemes to a different group entity, while brokers can offer access to a new settlement cycle allowing same-day trades for select top 500 scrips.
The former Congress chief, Rahul Gandhi, has called out the Securities and Exchange Board of India (SEBI) to reveal the names of the 'big players' who have made a killing in Futures and Option (F&O) trading at the expense of small investors. A study conducted by SEBI has revealed that the average net loss for individual traders in F&O trading in FY24 was Rs 1.2 lakh, resulting in a total loss of Rs 1.8 lakh crore for small investors. It also showed that only 7.2% of individual traders made a profit, while 93% incurred an average loss of Rs 2 lakh per trader. The study has called for stricter regulations and control over F&O trading.
Congress has accused SEBI Chairperson Madhabi Buch of receiving rental income from a company that is under investigation by the capital markets regulator for insider trading. Senior Congress leaders Jairam Ramesh and Pawan Khera raised concerns about the lack of transparency and integrity in the regulatory body, especially given the large number of Indian investors with investments in the market. This is a clear violation of SEBI's code on conflict of interest for board members.
The Dibrugarh police in Assam have detained three more individuals in connection with a multi-crore online investment scam. The police have also seized documents and items from the main accused's office and have launched a search operation to unearth the alleged scam. The 22-year-old kingpin, Bishal Phukan, is accused of amassing crores of rupees from people through investments in the stock market, a practice warned against by SEBI. Police have also arrested Phukan and his associate, and are conducting search operations in various places of Assam to apprehend other suspects involved in the scam.