Stock News

NEW DELHI: Market regulator Sebi on Wednesday slapped a penalty of Rs 12 lakh on commodity broker Ganganagar Commodity Ltd for misusing clients' funds. The Securities and Exchange Board of India (Sebi) had carried out an inspection of the broking operations of Ganganagar Commodity for the period from April 2017 to October 2018. During the inspection, it was found that Ganganagar Commodity misutilised funds of credit balance clients for margin obligations of debit balance clients and proprietary trading. Besides, it had not settled accounts of 73 clients within the prescribed time frame, Sebi said in an order. "...though the noticee (Ganganagar Commodity) has attempted to be compliant to various norms, there have been gaps in the compliance levels, and the noticee has made efforts to m...

Mumbai: Oil-to-retail conglomerate Reliance Industries (RIL) said on late Wednesday that co-investors of Silver Lake will invest an additional Rs 1,875 crore into its unit Reliance Retail Ventures (RRVL), a second such deal in a single day. This will bring the total investment by Silver Lake and its co-investors in the subsidiary to Rs 9,375 crore, and they will hold a 2.13 per cent equity stake in RRVL on a fully diluted basis, RIL said in a late evening release. “Silver Lake’s additional investment is a strong endorsement of the tremendous potential of Indian retail and the capabilities of Reliance Retail,” Mukesh Ambani, chairman and managing director of RIL said in a release. Earlier in the day, RIL said General Atlantic will invest Rs 3,675 crore into Reliance Retail Ventures for ...

Why do people think that there is no money to be made in trading? I don’t. I believe there is substantial amount of money to be made in trading. If people thought at 20 per cent return on a steady basis is wealth building over time, what would they say to 200 per cent? Boggles the mind, right? And when the mind boggles, it tends to reject what seems ‘unreasonable’. But 'reason' is in the mind too, right? So if we take the mind out of the equation, the ‘ún-reason-able’ is really an exercise in taking the mind out of the way we look at things! Sounds heavy? I agree it does. But if you re-read that passage a few times you will get to where I am going with all this. Let’s see what creates these ‘unreasonable’ perspectives in the mind. For simplicity, I will just call them “Comforting Lies”...

NEW DELHI: Jammu and Kashmir Bank on Tuesday said it has received shareholders' nod to raise up to Rs 4,500 crore through equity and debt to fund its business plan. Besides, the shareholders also approved the proposal to increase the authorised share capital of the bank from Rs 95 crore to Rs 250 crore in its annual general meeting (AGM) held on September 28. The AGM cleared the proposal to raise an amount not exceeding Rs 3,500 crore in one or more trenches by issue of securities by way of follow on public issue, rights issue, qualified institutional placement (QIP) or any other mode approved by RBI for meeting the tier-I capital requirements, Jammu and Kashmir Bank said in a regulatory filing. In addition, it said, the shareholders also approved plan to issue unsecured, redeemable, s...

Mumbai: The capital markets regulator has eased rules for delisting of listed subsidiaries and asked companies to disclose details of forensic audit initiated by them. These decisions along with a few others were taken in the Securities and Exchange Board of India’s board meeting on Tuesday. Companies have been exempted from doing a reverse book building—a process followed to decide on a price that has to be paid to public shareholders to buy back shares before delisting- for listed units. The regulator said to avail of this delisting route, the listed holding company and the listed subsidiary should be in the same line of business. “The exemption from reverse book building would provide an opportunity for eligible companies to streamline their corporate structure and consolidate the re...