Wednesday, September 30
India's markets regulator on Tuesday proposed to increase the board oversight of key exchange functions, including the ones related to trading, risks, regulatory and compliance operations, a consultation paper showed. The Securities and Exchange Board of India said market infrastructure institutions (MII) will need to appoint two officers, each of whom will head functions related to trading as well as risk and compliance. The officers will be part of the governing board, the regulator added. The SEBI proposed that its regulatory and risk management committee would meet the two officers every quarter without the MII managing director present. Currently, only the MD is required to be a part of the MII's board. In India, MII include exchanges and depositories. "While the MD will continue t
ET Intelligence Group: Kalpataru, a Mumbai-based real estate developer, plans to raise ₹1,590 crore through an issue of fresh shares to repay debt. The promoter group's stake will fall to 81.3% after IPO from 100%. Its revenue and margins have improved over past 3 years. Higher costs have affected bottom line. Valuation is cheaper than most peers. It has started reporting profit for 9 months to December 2024. Hence, investors with high-risk appetite may consider IPO.Kalpataru has 24.8 million square feet of ongoing projects and 16.3 million sq ft of forthcoming projects. The percentage of ready-to-move unsold inventory of homes has fallen to 2.5% as of December 2024 from 4.8% in FY22. Inventory overhang days reduced to 17 months in 2024 from 26 months in 2022.The company has obtained an
The U.S. current account deficit widened to a record high in the first quarter as businesses front-loaded imports to avoid President Donald Trump's hefty tariffs on imported goods. The Commerce Department's Bureau of Economic Analysis said on Tuesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, jumped $138.2 billion, or 44.3%, to an all-time high of $450.2 billion. Data for the fourth quarter was revised to show the gap at $312.0 billion instead of $303.9 billion as previously reported. Economists polled by Reuters had forecast the current account deficit increasing to $443.3 billion last quarter. The deficit represented 6.0% of gross domestic product, the highest since the third quarter of 2006 when it peaked at 6.3%.
