Mumbai, March 31 (IANS) The Securities and Exchange Board of India (SEBI) has initiated regulatory action against Elitecon International Ltd after finding prima facie evidence of a pump-and-dump scheme in the company’s shares.The capital markets regulator observed that the stock surged more than 60 times within a short period before witnessing a sharp decline, a pattern it said was indicative of manipulative trading.In addition, the price rally was allegedly supported by coordinated trades and…
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New Delhi, March 30 (IANS) The National Stock Exchange (NSE) has initiated the process for its long-awaited initial public offering (IPO) by reaching out to existing shareholders to gauge their interest in participating through the offer for sale (OFS) route, according to sources.In a communication to investors, the exchange has invited expressions of interest (EOI) from shareholders willing to offload part or all of their holdings as part of the proposed public issue. It marks a formal step for…
New Delhi, March 29 (IANS) The National Company Law Appellate Tribunal (NCLAT) has dismissed appeals filed by the BSE, ruling that insolvency courts have the authority to order the defreezing of Demat accounts of companies undergoing insolvency proceedings.In its order, a two-member bench of the appellate tribunal said the National Company Law Tribunal (NCLT) has clear jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code (IBC) to hear such matters and pass necessary directions….
Mumbai, March 29 (IANS) The National Stock Exchange (NSE) is set to launch a new crude oil futures contract linked to global benchmark prices from April 13, in a move aimed at strengthening India’s commodity derivatives market.The exchange said it will introduce Dated Brent Crude Oil (Platts) futures in its commodity derivatives segment after receiving approval from the Securities and Exchange Board of India (SEBI).The new contract will be based on the S&P Global Energy (Platts) Dated Bren…
New Delhi, March 29 (IANS) Amid the persistent foreign outflows, domestic institutional investors (DIIs) continue to provide strong support, emerging as net buyers to the tune of Rs 26,897 crore last week, effectively absorbing the selling pressure from FIIs.This continued domestic participation helped cushion the downside and provided stability near key support zones, said analysts.“Foreign institutional investors (FIIs) remained consistent net sellers throughout the week, with cumulative out…
New Delhi, March 23 (IANS) Market regulator Securities and Exchange Board of India’s (SEBI’s) board on Monday allowed Foreign Portfolio Investors (FPIs) net settlement of their funds on their intraday cash market transactions and announced other measures to improve ease of doing business.Further, the regulator approved proposals to amend AIF Regulations to cover situations in which a scheme or an AIF can retain liquidation proceeds of portfolio post completion of its tenure.”It has also been…
New Delhi, March 20 (IANS) The government on Friday notified the Income-tax Rules, 2026, setting the stage for the rollout of the new Income-tax Act, 2025 from April 1, 2026, with a sharper focus on transparency, stricter disclosures and improved compliance.The Central Board of Direct Taxes (CBDT) has published the Income-tax Rules, 2026 in the e-Gazette, replacing earlier provisions and laying down a detailed framework for the upcoming financial year 2026-27.The new rules aim to simplify proced…
Mumbai, March 19 (IANS) India’s stock market has become an attractive destination for foreign investors after the recent correction, a senior official of the market regulator said, highlighting fresh opportunities for global players, including those from Russia.Kamlesh Chandra Varshney, whole-time member of the Securities and Exchange Board of India, said valuations in the Indian equity market now look “quite attractive” following a decline over the past few months.“The correction, which…
Mumbai, March 18 (IANS) Edtech firm PhysicsWallah Limited has received an income tax demand of Rs 263.34 crore, according to a disclosure made to stock exchanges on Wednesday. The company said it received the assessment order and demand notice on March 16.The order, issued by the Assessment Unit of the Income Tax Department, has treated investments received by the company during the Assessment Year 2023–24 as taxable income.These investments included funds from various investors, such as SEBI-…
New Delhi, March 14 (IANS) The government has amended rules governing minimum public shareholding for large companies by introducing a tiered structure that allows large firms to offer a smaller portion of shares to the public during IPO, and do staged increases to the 25 per cent level.The amendment links minimum public offers to a company’s post‑issue capital at the IPO price. Companies with post‑issue capital above Rs 1,600 crore but up to Rs 4,000 crore must offer shares worth at least…