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The stock hit a 52-week high of Rs 2,760, up 1.3 per cent, surpassed its previous high of Rs 2,745 recorded on December 3, 2018 in intra-day deal. from Markets http://bit.ly/2GfUNRi
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Showing posts from January, 2019
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Markets regulator Sebi Thursday slapped a total fine of Rs 1.4 crore on 10 entities for indulging in manipulative trading in the shares of Le-Waterina Resorts & Hotels. The regulator had conducted investigation in the scrip of Le-Waterina during October 2010 to March 2012 to look into the possible violation of the provisions of the Sebi Act. The probe found that some entities executed trades among themselves, while some of them executed repetitive self-trades, which resulted in creation of artificial volume, leading to false and misleading appearance of trading in scrip of the firms. The entities violated Sebi's PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations by executing such trades, the Securities and Exchange Board of India (Sebi) said. "Entities had executed trades which were manipulative and indulging in trades with manipulative intent to create misleading appearance of trading, certainly is in the nature of causing possible adverse impact in ...
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A disgruntled insurance agent who took on the identity of "Lord Voldemort", Harry Potter's nemesis, and threatened to harm clients unless they paid him bitcoins has been jailed in Singapore. Myanmar national Ye Lin Myint targeted several clients after they missed appointments or cancelled insurance policies, according to court documents. The Singapore permanent resident also threatened people who considered buying policies but decided not to, as well as the neighbours of clients and potential clients. The 36-year-old sent emails and letters to six individuals, which threatened that they and their families would be harmed unless one bitcoin was transferred to him. At the time of the offences in August and September 2017, one unit of the cryptocurrency was worth about Singapore dollars 6,600 (USD 4,900). He set up an email account for the campaign of harassment, and signed the messages "Lord Voldermort", a misspelling of the name from the Harry Potter series. In t...
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Markets regulator Sebi Monday provided clarity on the lock-in period required for unlisted warrants. The clarification has been given as part of an informal guidance sought by Jindal Steel & Power Ltd (JSPL) regarding the applicability of ICDR (Issue of Capital and Disclosure Requirements) with respect to such warrants. JSPL had issued 4.8 crore warrants to Opelina Finance and Investment Ltd, one of the promoter group entity, on preferential basis in November 2017. A warrant is a derivative that gives the right, but not the obligation, to buy or sell a security, most commonly an equity, at a certain price before expiration. To have a clarity on regulatory requirements with respect to the periodicity of lock-in of pre-preferential holding of the promoters' shares in the case of allotment of warrants convertible into equity shares as well as whether the pre-preferential holdings of the promoters, which were put under lock-in can be released, the company sought an informal guidanc...
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NEW YORK (Reuters) - (Corrects first paragraph to read "augment" instead of "replace") Harvard University's public health graduate school, U.S. think-tank New America, and American apparel company Levi Strauss & Co [LEVST.UL] announced on Thursday a collaboration to develop a blockhain-based system designed to augment outside auditors of factory health and safety with self-reporting by workers. from Markets http://bit.ly/2Tejcue
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NEW YORK (Reuters) - Harvard University's public health graduate school, U.S. think-tank New America, and American apparel company Levi Strauss & Co [LEVST.UL] announced on Thursday a collaboration to develop a blockhain-based system designed to augment outside auditors of factory health and safety with self-reporting by workers. from Markets http://bit.ly/2B0sJ1a
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In another blow to debt-ridden IL&FS Group, Crisil Tuesday downgraded rating on the non-convertible debentures of Jharkhand Road Projects Implementation Company to D (Default) or the junk grade. Jharkhand Road Projects Implementation Company (JRPICL) is a subsidiary of IL&FS Transportation Networks Ltd (ITNL), which had a rating of BB (SO)/Watch Negative. "The downgrade reflects non-payment of interest and principal obligations on Crisil-rated NCDs that were due on January 21, 2019, as confirmed by the trustee (IDBI Trusteeships Ltd) and investors. This is on account of non-adherence to the structured payment mechanism, despite adequate funds in JRPICL's escrow account," the rating agency said in a statement. Rating D is assigned by Crisil to instrument, which are in default or are expected to be in default soon. Crisil had earlier highlighted heightened risk of default due to reversal in the IL&FS management's earlier stance of maintaining the integrity o...
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Shares of IDBI Bank Monday fell over 3 per cent on a day when insurance behemoth LIC announced completion of 51 per cent stake acquisition in the bank. Stock of the bank slumped 3.17 per cent to Rs 56.50 on the BSE. Intra-day, it went down to touch a low of Rs 56.20. On the NSE, the shares slipped 3.09 per cent to end at Rs 56.40. During the trading session, the scrip touched a low of Rs 56.05. "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a BSE filing. In August last year, the Cabinet approved the acquisition of controlling stake by Life Insurance Corporation (LIC) as a promoter in the bank through a combination of preferential allotment and open offer of equity. IDBI Bank has about 1.5 crore retail customers and about 18,000 employees. With this deal, LIC will have a st...
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Engineering major Larsen & Toubro (L&T) Saturday said market regulator Sebi has denied permission for its Rs 9,000 crore share buyback offer. In a regulatory filing to stock exchanges, L&T said the Securities and Exchange Board of India (Sebi) has asked it not to proceed with the buyback. "Since the ratio of the aggregate of secured and unsecured debts owed by the company after buy-back (assuming full acceptance) would be more than twice the paid-up capital and free reserves of the company based on consolidated financial statements", the buyback offer is not in compliance with the Companies Act and Sebi norms, the regulator said in a letter to the company. L&T had proposed to buy back up to 6.1 crore shares from shareholders at a price of Rs 1,475 per equity share, aggregating to Rs 9,000 crore. The offer was open to those holding equity shares as on October 15. A buyback reduces the number of shares available in the open market. from Markets http://bit.ly/2...
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Coinstar, the company behind change-counting kiosks, has partnered with Coinme, a startup that operates cryptocurrency-dispensing ATMs in the US, to sell Bitcoin at places such as grocery stores.Coinstar operates a huge network that could be enabled to dispense the digital currency. A consumer will be able to easily purchase Bitcoin with cash, TechCrunch reported.This is how the system will work. Once you insert your paper money into one of these Bitcoin-dispensing kiosks, it will dispense a voucher for a Bitcoin redemption code that will point you to Coinme. There is a limit of USD 2500 and one needs to link a phone number to the transaction.While there are some vendors accepting Bitcoin transactions, the controversial digital currency is still far from being widely embraced. from Markets http://bit.ly/2W2EVY3
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Portfolio management company Equity Intelligence, whose investors' wealth was eroded by almost 44 per cent in the current fiscal, has apologised to its investors admitting that investing in LEEL Electricals Ltd (formerly Lloyd Electric & Engineering) was a mistake. from Markets http://bit.ly/2AKRjTA
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A 32-year-old man was arrested for allegedly duping people in the name of cryptocurrency or virtual money, police said Tuesday. The accused has been identified as Rohit Kumar, a resident of Burari, they said. The police received a complaint of cheating, money laundering and violation of Information Technology Act against Rohit Kumar, Amit Lakhanpal, Rajinder Kumar Shah and others. "In the complaint, the victims alleged that Kumar and his associates, through social media and personal invitation, urged hundreds of Indians and NRIs to invest their money in Money Trade Coin (MTC) of Flinstone Technologies Pvt Ltd," A K Singla, Additional Commissioner of Police (Crime), said. The accused used to tell the victims that the (virtual)currency was Dubai-based and promised them higher returns, police said. They also used to organise conferences and other lavish events at 5 star hotels to lure the unsuspecting victims, they said. Kumar was nabbed from his residence on December 31, 2018. ...
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Mutual funds have added a staggering Rs 1.24 lakh crore to their asset base in 2018 assisted by consistent increase in SIP flows and a robust participation of retail investors despite volatile markets. The asset under management (AUM) of the industry grew by 5.54 per cent or Rs 1.24 lakh crore to Rs 23.61 lakh crore at the end of December 2018, up from Rs 22.37 lakh crore at the end of December 2017, latest data available with the Association of Mutual Funds in India (Amfi) showed. The year 2018 also marked the sixth consecutive yearly rise in the industry's AUM after a drop in the two preceding years. The pace of growth, however, declined for the asset size in 2018 as compared to the previous year. The industry saw a surge of 32 per cent in the AUM or an addition of over Rs 5.4 lakh crore in 2017. The IL&FS default and the consequent blow to the NBFC sector because of the credit crunch, exposed mutual funds to ill-liquid debt funds worth lakhs of crores. This coupled with ... ...