BUSINESS
SEBI proposes HNI sub-categorisation for IPO allotment process
Accordingly, SEBI in a consultation paper expressed concerns over the proportionate allotment methodology in the case of NIIs. At present, the minimum bid size for HNI application is above Rs 200,000. "It is observed that a few large NIIs are able to crowd out smaller NIIs for allotment in an IPO," the consultation paper said.
Expectations of healthy quarterly results push-up indices; realty stocks rise
Globally, markets remained on a back foot weighed by ongoing concerns over the health of property giant China Evergrande Group and ahead of an OPEC meeting. Sector wise, realty, power, metals, capital goods and healthcare indices gained whereas consumer durables index fell. Consequently, the 30-scrip sensitive index closed at 59,299.32 points up 533.74 points or 0.91 per cent.
Myntra registers biggest-ever opening day for its Big Fashion Festival
The opening day saw an overwhelming response with over 19 million visitors from across the country, making it Myntra's highest-ever Day 1 of BFF thus far. The first day of the eight-day event witnessed customers shopping over 4 million items, of which 40 per cent of the orders were from Tier 2 and 3 cities and beyond.
Flipkart set to lead smartphone, fashion shopping in festive season
Since its launch in 2014, Flipkart has led spending during the festive month due to its strength in the smartphone and fashion categories, which account for over 50 per cent of total online retail sales in India
Now buy, sell Bitcoins via UPI in Indian currency on Unocoin
To trade on the Unocoin platform, a minimum top-up of Rs 1,000 is required. The maximum that the user can deposit can range up to Rs 2 Lakh via UPI mode and Rs 1.5 crore via bank IMPS/UPI/NEFT/RTGS mode, the startup said in a statement.
New CBDT chief divested of investigation, ex Mumbai DGIT takes charge of position
Being the head of the tax administration board, the CBDT Chairman will coordinate and exercise overall supervision of the body, including getting updates on matters related to tax investigations. In an office order issued by the Department of Revenue, CBDT's Member, Investigation, has been made sole authority to exercise supervision over all Directorates General of Income Tax (Investigation), Chief Commissioners of I-T and Directorates General of Income Tax (Intelligence & Criminal Investigation).
Demolition of twin towers: SC junks Supertech's plea seeking modification
A bench of Justices D.Y. Chandrachud and B.V. Nagarathna noted that grant of such a relief is in the nature of a review of the judgement passed by the top court, as it held that its judgment directing demolition of twin towers specifically affirmed the directions which were issued by the Allahabad High Court for the demolition of the towers - T 16 and T 17.
Petrol, diesel price rise on hold after 4 consecutive days of hike
Benchmark crude prices have settled at a tad lower level of $ 79 a barrel now after shooting over a three-year high level of $ 80 a barrel early last week. This has given some room to OMCs to halt fuel price rise. With no change in fuel prices, diesel continues to be priced at Rs 90.77 per litre while petrol maintains its priceline at Rs 102.39 a litre in Delhi.
Equity indices trade in green; Sensex up over 700 points
Accordingly, the two key indices had a gap up opening and continued to march higher. Sector-wise, Telecom, Healthcare, IT and Banks gained the most, whereas Metals lost the most. Consequently, the 30-scrip sensitive index traded at 59,513.83 points around 10.50 a.m., up 748.25 points or 1.27 per cent.
SpiceJet restores employees' salaries to pre-Covid levels
The airline paid full salaries for the month of September to employees. Besides, salaries were disbursed on the last day of the month, as had been the practice during pre-Covid days. "From September 2021, the company has also reverted back to paying salaries in one go instead of paying it in two parts," the airline said in a statement.
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