Markets regulator Sebi on Monday proposed broadening the definition of Not-for-Profit Organizations (NPOs) and expanding eligible activities to include welfare for disadvantaged groups and promoting arts and culture as social enterprises. Also, the regulator has proposed allowing NPOs to register on the Social Stock Exchange (SSE) for up to two years without fundraising. “Several NPOs…
State-owned Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement (QIP) during the ongoing quarter, a top official of the bank said. The bank has already appointed merchant bankers and legal advisers for the proposed QIP, Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. “With…
The December quarter performance of HCL Technologies (HCL Tech) beat the analyst expectation in terms of rupee denominated net profit and margin improvement though the dollar revenue growth was marginally below the estimates. The country’s third largest software exporter revised the lower end of the FY25 revenue growth guidance to 4.5% from earlier 3.5%, implying…
The SME initial public offering (IPO) of Sat Kartar Shopping will open for public bidding on Friday, January 10. The company aims to raise Rs 33.80 crore through the fresh issue of 41.73 lakh shares and its stock will get listed on the NSE SME platform on January 17. Price band for Sat Kartar Shopping…
Market regulator Securities and Exchange Board of India (Sebi) on Thursday barred Ketan Parekh and Singapore-based trader Rohit Salgaocar from accessing the Indian capital markets after finding them involved in a front-running scam. In an interim order, the regulator further directed impounding of an amount of Rs 65.77 crore from Parekh, Salgaocar and 20 other…
The Indian market kicked off 2025 on a positive note, ending in green on the first trading day of the year on Wednesday, with the Sensex climbing over 360 points and the Nifty rising 0.4%, led by gains in financial services stocks. This upbeat start follows the market wrapping up 2024 with an 8% annual…
Adani Enterprises Ltd, the flagship company of the ports-to-energy conglomerate helmed by billionaire Gautam Adani, is likely to see consolidated revenue grow at a CAGR of 17.5 per cent and net earnings by 45.8 per cent over 2023-24 fiscal year (FY24) and FY27, a report said. AEL is one of India’s largest listed incubators which…
Vodafone Idea (Vi) is raising Rs 1980 crore from its promoter Vodafone Group Plc by issuing fresh equity on a preferential basis, after the UK parent sold its residual stake in Indian telecom tower unit Indus Towers last week. The funds will be used by Vi to clear a portion of its dues to Indus…
Capital markets regulator Sebi has directed Mishtann Foods to bring back nearly Rs 100 crore, an amount the company allegedly misappropriated through dubious transactions with related parties. Sebi also restrained five entities, including Mishtann Foods and its promoter and CMD Hiteshkumar Gaurishankar Patel, from the securities markets till further orders for alleged financial mismanagement, fraudulent…
The government said on Tuesday that capital markets regulator Sebi has “adequate internal mechanisms”, including a disclosure framework and provisions for recusal, to address issues relating to conflicts of interest. In a written reply in the Rajya Sabha, minister of state for finance Pankaj Chaudhary said the Sebi board has adopted a code on conflicts…