LKP securities Q4 results : profit at ₹5.57Cr, Revenue increased by 88.61% YoY
LKP securities Q4 results : Revenue increased by 88.61% YoY & profit at ₹5.57Cr Key Points
mintPNC Infra, HG Infra Construction, Ahluwalia Contracts top Road Infrastructure sector stocks by Axis securities post Q3
Stock Market Today: PNC Infratech, HG Infra, Ahluwalia Contracts top Infra road sector ideas of Axis securities post Q3 results. PNC Infratech & H.G. Infra contributed positively on Q3 Revenue, Ebitda and Net profit fronts while Ahluwalia Contracts outperformed on all counts as per Axis Securities. Key Points
mintTradeStation to pay $3 million to settle charges from SEC, states over unregistered crypto product
(Reuters) - Cryptocurrency platform TradeStation Crypto will pay $3 million to settle charges from the U.S. securities regulator and multiple states that it offered and sold unregistered securities Key Points
ThePrintMCA tweaks rules; large unlisted private firms have to issue shares in demat forms
India's Ministry of Corporate Affairs (MCA) has mandated that large unlisted private companies, including unicorns, issue securities only in dematerialized form, giving them until the end of September 2024 to comply with the rule. The move is expected to enhance transparency in the financial market and encourage companies to disclose their share structures more openly. Key Points
Economic TimesBittrex to pay $24 million to settle with US securities regulator
US News: Bittrex has agreed to pay $24 million to settle claims by the U.S. securities and Exchange Commission that the cryptocurrency exchange failed to regis Key Points
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Explainer: What makes a crypto asset a security in the US?
Cryptocurrency companies that have resisted U.S. regulatory oversight, arguing digital assets are not securities, won a court victory this week. On Thursday Ripple Labs got a landmark ruling from a federal judge who said some of the company's XRP token sales were not subject to securities laws. Key Points
ReutersCryptocurrency lawsuit: Coinbase threatens to take SEC fight to Supreme Court if needed
Coinbase is prepared to take its legal fight with the SEC all the way to the Supreme Court as the regulator widens its crackdown on tokens it considers securities. The SEC sued the US crypto exchange for allegedly evading rules in allowing users to trade tokens unregistered as securities. Key Points
mintFederal Bank, Ashok Leyland, PNC Infra, Praj Ind among top picks of Axis securities in midcap, smallcap stocks
Brokerage selected five midcap stocks and four smallcap stocks as its top picks. Some of these are Dalmia Bharat, Federal Bank, PNC Infratech, Praj Industries, and Ashok Leyland among others. Key Points
mintGovt to raise ₹8.88 lakh cr in first half of FY24; sovereign green bonds issuance in H2
RBI will be issuing four government-dated securities each worth ₹1.36 lakh crore in April, June, August, and September 2023. While in May, five securities worth ₹1.69 lakh crore will be issued. July month will see the highest securities issuance -- a total of five dated bonds --- worth ₹1.75 lakh crore. Key Points
mintSAT sets aside Sebi order barring IIFL securities from taking new clients, reduces penalty to ₹20 lakh
In June, Sebi’s whole-time member S.K. Mohanty, in his final order, restrained IIFL securities from onboarding new clients as a stockbroker for two years Key Points
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Analysis: Crypto firms facing US SEC charges find hope in Ripple ruling, experts say
A cryptocurrency developer's landmark legal victory against the U.S. securities and Exchange Commission (SEC) will galvanize Coinbase (COIN.O) and other companies to resist the agency's attempt to assert its jurisdiction over the industry, experts said. Key Points
ReutersWall St regulator adopts Dodd Frank rule against trader conflicts
The U.S. securities and Exchange Commission on Monday adopted a financial crisis-inspired rule barring traders in asset-backed securities from betting against the same assets they sell to investors. Key Points
ReutersFPI buying in index eligible government bonds picks up pace
Foreign portfolio investment in Indian government securities designated under the Fully Accessible Route (FAR) have crossed the ₹1 trillion lakh crore, rising to ₹1.02 lakh crore as on October 16 versus ₹96,661.33 crore as on September 29, Clearing Corporation of India data showed. Key Points
Economic TimesFairfax offloads 5.9% stake in IIFL securities for ₹118 crore
After the stake sale, Fairfax's shareholding in IIFL securities fell to 3.38% from 9.28% at the end of June quarter Key Points
mintMahindra CIE Automotive and 4 other smallcap stocks to buy in June: Axis Securities
Axis securities has selected small-cap stocks that could be the best picks for investors' portfolios in June. The brokerage firm recommends buying Mahindra CIE Automotive, Praj Industries, CreditAccess Grameen, and PNC Infratech, among others. The firm said its May 2023 top picks outperformed both Sensex and Nifty, which gained by 2.47% and 2.60%, respectively. Axis Securities' top picks basket delivered an impressive 25% return in the last one year. Key Points
Economic Times
SEBI bans former Religare Finvest CEO; what happened?
SEBI has banned former Religare Finvest CEO Kavi Arora from the securities market for two years and imposed a fine of ₹5 crore for fund diversion. Here’s what happened. Key Points
mintSEBI allows short-selling by all investors; F&O stocks also eligible
Institutional investors will not be allowed to do day trading. This means all transactions would be grossed for institutional investors at the custodians level. The custodians, however, will continue to settle their deliveries on a net basis with the stock exchanges. Key Points
Economic TimesRich face crypto dilemma: To bet or not via foreign route
Unlike direct purchase of cryptos, investing in an ETF is subscribing to units or securities issued by a regulated fund --- a feature that most think is a kosher trade. However, some of the Indian banks refuse to remit funds overseas if the money is invested in cryptos or offshore funds and pooled vehicles that invest in cryptos and track the prices of bitcoin and other digital currencies. Key Points
Economic TimesBroking firms' profitability takes a hit as retail euphoria fades, volumes ebb
Euphoria in the retail market as well as activities moderated, new client additions, NSE active clients, all of these numbers declined in the industry, said Vijay Chandok, MD of ICICI Securities. Cash volumes were also in a downward trajectory throughout the year, and equity capital markets, the fundraising markets were all muted in FY23 as compared to FY22. Key Points
Economic TimesOnline Bond Platform Providers form association
Online Bond Platform Providers (OBPPs) have come together to form an industry association named OBPP Association of India to represent and advance industry... Key Points
The Tribune India
ICICI, I-Sec merger gets investor nod despite woes
India Business News: ICICI securities to be ICICI Bank's wholly-owned subsidiary with 75% stake. Public holds 25%. Institutional investors support. Delisting planned. Shar Key Points
Times Of IndiaBudget 2024 expectations: Fiscal consolidation is to continue in FY25 despite poll pressure, says BofA Securities.
Budget 2024 expectations: BofA securities expects the Centre to meet its fiscal deficit target of 5.9% of GDP in FY24. For FY25, they see the Centre’s fiscal deficit to consolidate further to 5.3% of GDP, despite poll pressure. Further tracking the glide path it is seen at 4.5% of GDP by FY26. Key Points
mintUS steps up crackdown on crypto with lawsuits against Coinbase, Binance
The top U.S. securities regulator sued cryptocurrency platform Coinbase on Tuesday, the second lawsuit in two days against a major crypto exchange, in a dramatic escalation of a crackdown on the industry and one that could dramatically transform a market that has largely operated outside regulation. Key Points
ReutersStocks to buy: Hindalco, HCL Tech, Federal Bank among four top stock picks for April by Yes Securities
Yes securities has recommended four stocks to buy in April which it believes have the potential to deliver decent returns of around 20-27% in a period of 12 months. The brokerage’s top stock picks for April include Hindalco Industries, HCL Technologies, Pricol and Federal Bank. Key Points
mintExplained: Who is Baap of Chart and why is Sebi cracking down against finfluencers
Sebi received a complaint against Ansari claiming that he has been looting retail traders by showing assured returns. Although he himself has been making losses, Nasir has assured his students returns with a 100% guarantee. Ansari, who calls himself the Baap of Chart, on social media, has about 4.4 lakh followers on YouTube and more than 7 crore views. His X profile claims that he is managing a Rs 30 crore-fund and aims to take it to Rs 1,000 crore. Key Points
Economic Times
Stocks to buy: Granules India, Jay Bharat Maruti among three fundamental stock picks by HDFC Securities
Stocks to buy: HDFC securities has three fundamental stock picks that it expects to give decent returns in the medium to long term. Based on strong fundamentals, it recommends buying Granules India, Jay Bharat Maruti and Shree Digvijay Cement for a time horizon of 2-3 quarters. Key Points
mintGold climbs Rs 380; silver advances Rs 100
New Delhi, Nov 21 (PTI) Gold prices climbed Rs 380 to Rs 62,150 per 10 grams in the national capital on Tuesday amid strong global cues, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 61,770 per 10 grams. Silver also edged up by Rs 100 to Rs 76,400 per […] Key Points
ThePrintGold falls Rs 50; silver declines by Rs 300
New Delhi, Nov 20 (PTI) Gold prices eased by Rs 50 to Rs 61,770 per 10 grams in the national capital on Monday in line with weak global cues, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 61,820 per 10 grams. Silver also declined by Rs 300 to […] Key Points
ThePrintGold remains flat at Rs 61,210/10 gm; silver climbs Rs 300
New Delhi, Nov 16 (PTI) Gold price remained flat at Rs 61,210 per 10 grams in the national capital on Thursday, according to HDFC Securities. However, silver climbed Rs 300 to Rs 75,300 per kilogram. In the previous trade, it had settled at Rs 75,000 per kg. In the global markets, gold was slightly down […] Key Points
ThePrintUS regulators settle with more firms over use of texts and WhatsApp
U.S. regulators on Friday fined eight companies a combined $111 million over record-keeping lapses, the latest in a series of enforcement actions levied over Wall Street's use of WhatsApp and other unapproved messaging channels for discussing business. Key Points
Reuters
JP Morgan Chase settles case with Sebi, pays Rs 22 lakh
On August 9, 2021, designated depository participant J P Morgan Chase Bank (JPMC), informed Sebi about the delay in intimating about the merger of Fidelity Investments Money Management Inc. (FIMM), a registered FPI, with its affiliate Fidelity Management & Research Company LLC (FMRC). Key Points
Economic TimesAdani-Hindenburg: Expert panel submits report to Supreme Court
An expert panel investigating the Adani Group following allegations of financial irregularities has submitted a report to Indias Supreme Court. It is not clear if the six-member committee, set up after claims by US research firm Hindenburg, reviewed all the concerns outlined by the top court in March. The group was asked to assess how to protect consumers better, if regulatory lapses existed, and the broader impact. The securities and Exchange Board of India has also sought more time to conclude its probe. Key Points
Economic TimesView: Sebi & RBI's hyperactivity catches market by surprise; but it's for restoring credibility
Recent hyperactivity at Indias banking regulator and securities watchdog surprises the market. Commercial lenders are accused of concealing bad loans, while investment banks under scrutiny for pushing IPOs past the line using mule accounts. Fintech firms in Bengaluru and traditional finance industry in Mumbai are feeling the regulatory pressure. Key Points
Economic TimesProtean eGov Technologies IPO opens for subscription. Should you apply?
Analysts are positive on Protean eGov Technologies IPO, given the company's unique and niche business area, consistent profitability and positive cash flows. The IPO which opened today will close for subscription on November 8. Key Points
Economic TimesTerraform Labs must face US SEC fraud allegations, judge rules
Terraform Labs and its founder Do Kwon must face fraud allegations brought by the U.S. securities and Exchange Commission, a federal judge in Manhattan ruled on Monday. Key Points
Reuters
Yatharth Hospital IPO opens for subscription. Should you bid?
On FY23 financials, the IPO is valued at 39.2x P/E, 20.9x EV/EBITDA and 5.4x EV/sales, Reliance securities said while assigning a 'subscribe' rating. Yatharth Hospital & Trauma Care Services is a private hospital which provides healthcare services and is based in the northern region of India. Key Points
Economic TimesFormer Coinbase manager, brother agree to settle SEC insider trading charges
A former product manager for Coinbase and his brother have agreed to settle U.S. SEC charges related to insider trading of crypto. Key Points
The HinduIs SEC's crackdown on crypto exchanges warranted? Here's what Zerodha's Nithin Kamath says
India's leading broker Zerodha's CEO Nithin Kamath supports the SEC's actions against cryptocurrency exchanges Coinbase and Binance for violating rules, as he believes regulatory oversight is necessary to protect the interest of retail investors. The SEC has sued Coinbase for allegedly operating as an unregistered securities platform and brokerage service and evading disclosure requirements meant to protect investors. The regulator similarly filed charges against Binance, accusing it of violating US securities laws. The lawsuits, if successful, could transform the crypto market and assert the SEC's jurisdiction over the industry, which has argued that tokens do not constitute securities. Key Points
Economic TimesVodafone Idea seeks shareholder approval for ₹20,000 crore fundraise
In a bid to shore up its finances, Vodafone Idea (VIL) held an Extraordinary General Meeting (EGM) on April 2, seeking shareholder approval to raise a staggering ₹20,000 crore through issuing new securities. The outcome of the vote is yet to be announced. Key Points
mintExchanges roll out T+0 trade settlement cycle
New Delhi, Mar 28 (PTI) Stock exchanges BSE and NSE on Thursday launched the beta version of T+0, or same-day trade settlement on an optional basis for select stocks. To begin with, this will offer investors an option to transact in 25 securities in T+0 settlement. More than 60 members each participated in both exchanges […] Key Points
ThePrint
ICICI Bank under fire for allegedly trying to influence I-Sec's minority investors
Shareholders of ICICI securities claimed on social media that the bank's executives contacted them directly, asking them to vote in favour of the resolution that proposes to delist the broking subsidiary. Lawyers and market participants said such alleged actions could result in regulatory scrutiny of the voting process. Key Points
Economic TimesSebi using Artificial Intelligence for investigations, says official
India Business News: The Security Exchange Board of India (Sebi) has been using Artificial Intelligence (AI) for its investigations. Referring to the instances of stock market manipulations, Varshney said adhering to the law will be more beneficial and violation will cause problems. The securities and Exchange Board of India (Sebi) has been taking action against violators as well as measures to enhance transparency and curb misdoings. Key Points
Times Of IndiaElon Musk ordered to testify in SEC's Twitter probe
(Reuters) - A federal judge ordered Elon Musk to testify again in the U.S. securities and Exchange Commission's probe of his Twitter takeover, giving the regulator and the billionaire a week to agree Key Points
ThePrintGIFT Nifty up 120 points; here's the trading setup for today's session
The crucial opening downside gap of 17th Jan is now placed at the verge of decisive upside breakout at 21970 levels. Immediate support is at 21750 and the next overhead resistance to be watched around 22125 levels, said Nagaraj Shetti of HDFC Securities. Key Points
Economic TimesUS SEC cannot appeal Ripple Labs decision, judge rules
A federal judge on Tuesday refused to let the U.S. securities and Exchange Commission appeal her recent decision involving Ripple Labs, a ruling that has been seen as a major defeat for the regulator in its effort to police cryptocurrency markets. Key Points
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US SEC chief says government shutdown would reduce agency to 'skeletal' staff
Wall Street's top regulator on Wednesday told U.S. lawmakers that a looming shutdown of the federal government would reduce his agency's staffing to "skeletal" levels. Key Points
ReutersCoinbase asks US federal judge to dismiss SEC's lawsuit
Coinbase Global (COIN.O) on Friday asked a judge to end the U.S. securities and Exchange Commission's lawsuit accusing the world's largest publicly traded cryptocurrency exchange of violating federal securities laws. Key Points
ReutersSebi bans 5 entities from securities mkt
New Delhi: Sebi has barred five entities, including Excel Realty N Infra, from the securities market for up to two years and levied a fine totalling Rs 1.75 crore on them for being involved in a fraudulent scheme of misrepresenting financial statements of the company. PTI Key Points
The Tribune India