BUSINESS
SEBI needs to act rationally in insider trading verdicts: Kiran Mazumdar-Shaw
She questioned the basis for relating the Mazumdar Shaw Medical Foundation to Biocon in the judgement. "SEBI bars Allegro Capital, its CEO over insider trading in Biocon shares - Crazy logic. What does MSMF have to do with Biocon? The officer concerned needs to explain her convoluted hypothesis. SEBI needs to act rationally in insider trading judgements," Shaw said in a tweet.
India's forex reserves rise by over $1 bn
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $610.012 billion from $608.999 billion reported for the week ended June 25. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).
Give 10 days/yr leave to staff in sensitive areas, RBI to banks
"As a prudent operational risk management measure, the banks shall put in place a 'mandatory leave' policy wherein the employees posted in sensitive positions or areas of operation shall be compulsorily sent on leave for a few days (not less than 10 working days) in a single spell every year, without giving any prior intimation to these employees, thereby maintaining an element of surprise," the RBI said in a circular.
Finance Ministry cautions of inflationary risks on rising commodity prices, input costs
The Monthly Economic Review for June 2021 released by the Department of Economic Affairs (DEA) noted that inflationary pressures took an upturn in May 2021 with headline inflation (CPI-C) and WPI inflation touching a high of 6.3 per cent and 12.94 per cent, respectively. Supply-side disruptions in states and unfavourable base effects drove the broad-based momentum in retail inflation across food, fuel and core categories.
Ola raises $500 mn ahead of IPO
"Over the last 12 months, we've made our ride-hailing business more robust, resilient and efficient. With strong recovery post lockdown and a shift in consumer preference away from public transportation, we are well positioned to capitalize on the various urban mobility needs of our customers," said Aggarwal, Chairman and Group CEO, Ola.
India Inc likely saw 8-10% sequential dip in revenue in Q1FY22
The decline has been led by consumer discretionary products such as automobiles, which saw volumes impacted by the lockdowns across states to contain the second wave of Covid-19 infections. The note pointed out that improvement will be seen across sectors, riding on higher volume on a low base and higher realisations due to an increase in commodity prices.
India takes fiscal steps for better environmental results: FM at G20 meet
In her address at the G20 High-Level Tax Symposium on Tax Policy and Climate Change, ahead of the third G20 Finance Ministers & Central Bank Governors Meeting, she also said that concessional tax rates are in place in India to promote use of renewables. In a series of tweets, the Ministry of Finance said that the minister shared India's innovative policy mix.
NBFCs, HFCs YoY securitisation volumes likely to have surged in Q1FY22
In a report ICRA cited that due to the Covid-19 pandemic and resultant nationwide lockdown in March 2020, securitisation volumes had fallen significantly in Q1 FY21. As per rating agency's estimate, the securitisation volumes for FY22 could be more than Rs 1.2 lakh crore, of which majority would be in H2FY22 "if there is no resurgence of Covid-19 infections in the country".
Global Covid concerns, likely bearish earnings subdue equities
The S&P BSE Sensex closed at 52,386.19 points, lower by 182.75 points, or 0.35 per cent, from its previous close. "The domestic market continued to be under the grip of bears following weak Asian peers as investor confidence was shattered due to the global spread of Delta virus variant. The equity market is turning risk-averse and side-lined," Geojit Financial Services Head of Research Vinod Nair said.
NSE, BSE take steps for investor protection in case of listed firms' insolvency
This step has been taken to caution investors and provide all required information about the insolvency process of the bankrupt companies to them. However, it is observed that there is a considerable time lag between the pronouncement of oral order by the NCLT and the final written order by the NCLT. The list of securities will also be available on the exchange website.
Don't Miss
Advertisement