Capital Market

Rupee falls to all-time low of 84.40 against US dollar in early trade

The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Wednesday, as persistent foreign fund outflows and a muted trend in domestic equities weighed on the local unit. Forex traders said the USDINR pair has shown significant volatility in recent sessions, with the rupee inching closer to its all-time low of 84.40. This downward pressure is largely driven by global factors, particularly the Dollar Index's strengthening. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Tuesday, the rupee fell 1 paisa to a new lifetime low of 84.39 against the US dollar. "It appears that the rupee has established support around the current levels, with depreciation limited near 84.50," CR Forex Advisors MD Amit Pabari said. Pabari further added that the RBI stands tall as the depreciation in the rupee seems to be limited as the Reserve Bank of India (RBI) continues to se

Role models like Rakesh Jhunjhunwala inspire new investors: Hiren Ved

Now, the focus has shifted from creating investor intent through education to enabling easy execution via digital channels

Largecaps appear reasonably valued: Capitalmind CEO Deepak Shenoy

Shenoy discusses how domestic-focused sectors like manufacturing, defence, railways, domestic consumption, and infrastructure are ready for long-term growth

Single filing with exchange to be reality very soon: Sebi chief Buch

Capital markets regulator Sebi Chief Madhabi Puri Buch on Monday said a single disclosure by listed companies on one stock exchange will soon be automatically uploaded on the other bourse. This comes after the Securities and Exchange Board of India (Sebi) recently proposed sweeping changes to disclosure as well as listing requirements by listed companies based on recommendations from a committee led by S K Mohanty, former whole-time member of Sebi. Speaking at a CII event, Sebi chairperson said, "a single filing with the exchange will be a reality very soon". As part of the proposed changes, a filing made on one exchange will automatically collate on the other exchange, she said. A filing made on one exchange will automatically collate on the other exchange. Additionally, Buch said soon investors will be able to start SIP (Systematic Investment Plan) with as low as Rs 250 per month. "We are on the way of Rs 250 SIP becoming a reality," she said. Buch avoided commenting on Real E

Sebi categories dues worth Rs 76,293 crore as 'difficult to recover'

Capital markets regulator Sebi has segregated dues to the tune of Rs 76,293 crore under "difficult to recover" category at the end of March 2024, marking an increase of 4 per cent from the preceding year. Of this, a huge chunk is on account of cases pending before court-appointed committees. Difficult to recover (DTR) dues are those that could not be recovered even after exhausting all modes of recovery. "Segregation of such DTR dues is purely an administrative act and this will not preclude the recovery officers from recovering the amount so segregated as DTR as and when there is a change in any of the DTR parameters," Sebi said in its annual report for 2023-24. As of March 31, 2024, Sebi identified 807 cases as DTR, with a total outstanding of Rs 76,293 crore, up from 692 cases amounting to Rs 73,287 crore the previous year, according to the report. Among these 807 cases, 36 are pending due to ongoing proceedings in State PID courts, National Company Law Tribunal (NCLT), Nationa

Sebi clarifies on reports pertaining T+0 system mandatory for all

Capital markets regulator Sebi on Wednesday clarified on media reports pertaining to making the T+0 system mandatory for all. "This has been erroneously reported in a section of the press as Sebi bats for making the T+0 system mandatory for all," the regulator said in a statement. In a statement issued, the regulator clarified that its chief Madhabi Puri Buch was discussing the Application Supported by Blocked Amount (ASBA) facility, not the T+0 settlement cycle. The ASBA facility ensures that the investor's fund gets moved only when the allotment is completed. At an NSE event on Tuesday, the Sebi chairperson released a report on "Indian Capital Markets: Transformative Shifts Achieved through technology and reforms". The report referred to potential annual benefit of Rs 2,800 crore if ASBA for the secondary market were to be adopted fully by retail investors. "In this context, a question was posed to the Sebi chairperson on the ASBA facility being optional due to which retail ...

Govt unlikely to choose fiscal profligacy: Elara Capital CEO Raj Bhatt

Bhatt says India stands out globally because of its financial discipline

FIU notifies fresh terror financing reporting alerts for capital markets

A fresh set of 'alert indicators' have been issued by India's financial intelligence unit (FIU) for capital markets, insurance companies, online payment gateway intermediaries and crypto currency service providers for effective checking of suspicious transactions in their channels as part of the anti-money laundering and counter-terrorism financing regime. These new guidelines have been issued under the provisions of the Prevention of Money Laundering Act (PMLA) during the 2022-23 financial year and published in a recently released report that has been accessed by PTI. This is part of the anti-money laundering (AML) and combating the financing of terrorism (CFT) regime followed by the country as part of which financial institutions and intermediaries are mandated to share suspicious transaction reports (STRs) with the FIU which subsequently analyses them and shares them for action with various investigative and intelligence agencies. FIU proactively engages with the financial sector

India's deal-making activity unfazed by elections: BNP Paribas' Murugaiyan

Murugaiyan, who oversaw close to a dozen ECM deals in 2023, says large sell-downs by private equity (PE) firms show the depth of the domestic market

Best of BS Opinion: A question of spirit, Reforming judiciary & more

Here is the best of Business Standard's opinion pieces for today

Retail rush: Keeping faith in markets

The surge in retail participation, combined with increasing market complexity, poses new challenges for the Sebi

Govt appoints Rajay Kumar Sinha as Irdai's member for three years

Sinha is currently serving as the Managing Director and Chief Executive Officer of SBI Capital Markets, the investment banking arm of the State Bank of India

Commercials back rupee-denominated borrowing: HSBC India's Amitabh Malhotra

"Given cross-currency hedging rates, the borrowing cost in dollar terms would be significantly more for companies that do not have a natural hedge"

Equity fundraise through rights issue spurts in 2023, shows data

Some of the large offerings this year have been PNB Housing Finance's Rs 2,500-crore rights issue in April followed by Capri Global Capital (Rs 1,440 crore), and Piramal Pharma (Rs 1,050 crore)

Stake sales by promoters, private equity investors 2.2 times of 2022

The Nifty Midcap 100 index has rallied 27 per cent, while the Nifty Smallcap 100 index has rallied 30 per cent

Government bond yields surge, tracking the rise in US Treasury yields

The yield on the benchmark 10-year bond settled at 7.24 per cent, against 7.17 per cent on Wednesday

Sebi comes out with 'stricter timeline' for disclosure of material events

Capital markets regulator Sebi on Wednesday came out with a "stricter timeline" for disclosure of material events or information by listed companies and introduced criteria for determining the materiality of events. The new framework will become effective from July 15, the Securities and Exchange Board of India (Sebi) said in a circular. Under the framework, the regulator asked listed companies to disclose family settlement agreements, which can impact the management and control of such firms to stock exchanges. These agreements need to be disclosed within 12 hours in case a listed entity is a party and within 24 hours where the listed entity is not a party. Further, for material events or information which emanate from the listed entity, including those related to acquisitions, Scheme of Arrangement, consolidation of shares, and buyback of securities, the timeline for disclosure by the entity has been reduced from 24 hours to 12 hours. In case of information that emanates from a .

Sebi to auction 22 properties of Bishal Group, NVD Solar on August 14

Capital markets regulator Sebi on Wednesday said it will auction 22 properties belonging to Bishal Group of companies and NVD Solar on August 14 to recover money illegally collected from investors. The properties will be auctioned at a reserve price of nearly Rs 37 crore, according to a public notice issued by the Securities and Exchange Board of India (Sebi). Of the 22 properties, 17 relate to Bishal Group of companies (Bishal Abasan India Ltd, Bishal Distillers Ld, Bishal Agri-Bio Industries Ltd, Bishal Horticulture and Animal Projects Ltd) and five pertain to NVD Solar. These properties include land parcels, flats and a residential building located in West Bengal. Inviting bids for the sale of properties in the recovery proceedings against the companies and their promoters and directors, Sebi said the auction will be conducted online on August 14 from 10:30 am to 12:30 pm. Adroit Technical Services has been appointed as the e-auction service provider. The regulator has asked

Structured flexible capital: Beyond traditional debt and equity

High-yield debt markets have limited depth in India and founders don't want to be seen taking on expensive debt, which is perceived as a sign of stress

Sebi slaps Rs 20 lakh penalty on 4 entities for non-genuine trades on BSE

Capital markets regulator Sebi on Thursday slapped penalties totalling Rs 20 lakh on four entities for indulging in non-genuine trades in the illiquid stock options segment on BSE. The regulator imposed a fine of Rs 5 lakh each on Niruben Manojbhai Chudasama, Raj Kumar Lohiya, Nufact Merchandise Pvt Ltd and Nitu Agarwal. Sebi had observed large-scale reversal trades in the illiquid stock options segment on BSE, leading to artificial volumes on the exchange. The regulator conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The four entities that have been fined on Thursday were among those who indulged in the execution of reversal trades. Reversal trades are alleged to be non-genuine in nature as they are executed in the normal course of trading, which leads to a false or misleading appearance of trading in terms of generating artificial volumes, the regulator said. By indulging in these acts, the enti