Saturday, October 24
Sebi on Friday proposed doubling the threshold amount to Rs 50,000 crore for foreign portfolio investors to make granular disclosures about their investors holding any ownership or economic interest. At present, certain foreign portfolio investors (FPIs) with equity assets under management (AUM) exceeding Rs 25,000 crore are required to provide granular details of all their investors or stakeholders on a look-through basis. The norms are aimed at preventing the possible round-tripping by certain promoters using the FPI route. Data for average daily turnover in the capital market segment at NSE increased 122 per cent to Rs 1,18,757 crore in FY 2024-25 (till December 2024) from Rs 53,434 crore in FY 2022-23. "Considering the increase in market turnover, it is proposed to increase the siz
Adani Group on Friday raised Rs 4,850 crore from the sale of 13.5 per cent of its stake in Fortune oil maker Adani Wilmar as part of a strategy to exit non-core activities to focus on main infrastructure business. The conglomerate, which last month announced its exit from Adani Wilmar by selling the bulk of its stake to a joint venture partner, had on Thursday announced sale of 17.54 crore shares (13.50 per cent equity) in the company on January 10 (to non-retail investors) and on January 13 (to retail investors) at a floor or minimum price of Rs 275 apiece. The offer for sale (OFS) included an option to additionally sell up to 8.44 crore shares, or 6.50 per cent equity. Adani Commodities LLP, a subsidiary of Adani Enterprises Ltd, completed the offer for sale (OFS) for 13.5 per cent st
U.S. hiring picked up unexpectedly in December as employers added 256,000 jobs, another sign of the economy's resilience in the face of high interest rates. The Labor Department reported Friday that job growth was up last month from 212,000 in November. The unemployment rate dropped to 4.1% from 4.2% in November.Hurricanes and a big strike at Boeing threw off the October jobs numbers, pushing them down and setting up a payback rebound in November that likely exaggerated the strength of hiring. The December jobs numbers, out Friday from the Labor Department, are expected to deliver a more accurate reading of where things stand. Most economists expect them to show that hiring is solid but slowing, especially compared to the boom days of 2021-2023. Forecasters surveyed by the data firm FactSe
India's stock market regulator Securities and Exchange Board of India (Sebi) on Friday delegated power to its panel of Executive Directors and Whole-time Members to waive or reduce interest on recovery proceedings initiated for failure to pay penalty.In a circular issued today (January 10), Sebi allowed its panel of executive directors to waive or reduce interest where the interest amount is less than Rs 2 crore. In other cases, a panel of whole-time directors can reduce or forego it. Section 220(2) of the Income-tax Act, 1961 empowers the recovery officer of Sebi to recover the outstanding amount along with the applicable interest. Prior to the issue of the circular, the power rested with the Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner to r
