The stake sale may be carried out in multiple small tranches rather than a single offering during the upcoming fiscal year, provided market conditions are favourable, as the Centre aims to maximize the value of its shareholding in the insurer. “The government wants to maximize the value of LIC stock. Given the company’s size and…
Shareholders of Religare Enterprises Ltd almost unanimously rejected chairperson Rashmi Saluja’s reappointment as director, effectively ending her six-year stint at the helm of the financial services firm that she helped save from bankruptcy. More than 97% of the votes cast by shareholders were against Saluja’s reappointment, the voting outcome released on Sunday showed. That translates…
Markets regulator Securities and Exchange Board of India (Sebi) on Thursday imposed penalties of Rs 7 lakh and Rs 5 lakh on Motilal Oswal Financial Services (MOFSL) and Anand Rathi Share & Stock Broking, respectively, in separate cases after conducting inspections for alleged violation of stock broking norms. The penalty was slapped on MOFSL after…
The Securities and Exchange Board of India (Sebi) may approve proposals that will affect small and medium enterprises (SMEs), angel funds, and the broader securities market through IPO regulations, insider trading rules, and compliance for registered entities during its board meeting on 18 December. Among the most highly anticipated changes is a proposed overhaul of…
The shares of Mishtann Foods have gone down by nearly 10% to day’s low of Rs 8.95 on BSE after Sebi barred five entities, including the company, its promoter and CMD Hiteshkumar Gaurishankar Patel from the securities market till further orders for alleged financial mismanagement, fraudulent transactions, and corporate governance lapses. Sebi said Mishtann Foods…
Markets regulator Sebi issued a circular on instant redemption in liquid funds in 2017, allowing investors to withdraw up to ₹50,000 or 90% of the money parked in a liquid fund per day, whichever is lower. Many fund houses such as PPFAS, Nippon, Shriram, Bajaj, ICICI, HDFC and SBI offer this facility. Liquid mutual funds…
