08:04 PM
Sebi restrains Brightcom Group’s top officials from holding directorial positions
a second interim order against the Brightcom Group, restraining Suresh Kumar Reddy and Narayan Raju from holding any directorial positions until further notice.
Reddy is the promoter-cum-chairman and managing director of Brightcom Group, and Raju
is the chief financial officer.
The restraining order is following an investigation that revealed that the above-mentioned officials were involved in round-tripping of the company’s funds to falsely portray receipt of proceeds through preferential allotment of shares.
07:42 PM
BSE, NSE impose Rs 2.24 lakh fine each on Adani Green Energy for non-compliance
Adani Green Energy on Tuesday said BSE and National Stock Exchange have imposed a fine of Rs 2.24 lakh each on the company for certain non-compliance. The fines have been imposed “for non-compliance with the requirements pertaining to the composition of the Board, including failure to appoint a woman director”, the company stated in an exchange filing.
07:29 PM
FIIs emerge net sellers on Tuesday
Foreign portfolio investors were net sellers at Rs 495 crore on Tuesday, while DIIs bought Rs 533 crore.
07:17 PM
US stocks open higher on Nvidia earnings optimism
The Dow Jones Industrial Average rose 30.48 points, or 0.09%, at the open to 34,494.17.
The S&P 500 opened higher by 15.56 points, or 0.35%, at 4,415.33, while the Nasdaq Composite gained 96.35 points, or 0.71%, to 13,593.95 at the opening bell.
06:40 PM
US retail traders eye a fresh piece of the crypto derivatives pie
Their new platform is cryptocurrency exchange Coinbase Global, which on Aug. 16 became the first crypto-focused firm to win approval to offer cryptocurrency futures to U.S. retail customers.
It’s early days. But crypto markets are excited by the possibility that the first regulated and listed crypto firm to offer futures trading to U.S. retail investors might revive a shrinking $2 trillion cryptocurrency derivatives market.
05:57 PM
SAT rejects appeals against Sebi’s interim order in Eros fund diversion case
The Securities Appellate Tribunal (SAT) on Tuesday rejected appeals of Eros International Media Ltd, its Managing Director Sunil Arjan Lulla and Chief Executive Officer Pradeep Kumar Dwivedi that challenged Sebi’s order restraining them from the capital market in a fund diversion case. “We do not find any reason to interfere with the impugned order at this stage and we dispose of the appeal directing the appellants to file reply/objection along with a stay vacation application to the ad-interim ex-parte order dated June 22, 2023 within three weeks,” the bench of Presiding Officer Justice Tarun Agarwala and Technical Member Meera Swarup said.
05:57 PM
Vishnu Prakash R Punglia IPO to open on August 24. Here are 10 things to know about the offer
The public issue of face value of Rs 10 is entirely a fresh pack of up to 31.2 million shares. The company has fixed a price band of Rs 94-99 per share and investors can bid for a minimum of 150 shares in one lot and in multiples thereafter.
05:55 PM
How to best tap the growth in FMCG sector? Look at these 3 stocks
Indian FMCG companies have been on a structural growth trajectory with many categories still under-penetrated (shampoos, premium detergents) and underserved as rural penetration is still underway.
05:49 PM
Conviction missing from timid Nifty. What traders should do on Wednesday
On the derivatives front, the strikes of 19400 saw the addition of call open interest.
Negative chart patterns like lower tops and bottoms continued as per daily chart and Nifty seems to be forming a smaller lower top as of now within a narrow range, analysts said.
The rupee exhibited a positive performance, recording gains of 0.13rs and reaching 82.97, driven by a weakened dollar index that dipped below 103$. Additionally, crude oil prices displayed a subdued trend in recent days, contributing to the rupee’s strength. Market attention remains focused on the upcoming release of the RBI MPC meeting minutes,…
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