Tue, Mar 19, 2024 6:35 PM
RBI imposes monetary penalty on DCB Bank, Tamilnad Mercantile Bank
A Flip by Shubhangi Gupta
The Share India Securities stock surged up to 5% on Thursday, December 26, after the company announced its plans to acquire a 4.95% stake in the Metropolitan Stock Exchange of India Limited (MSE). The Finance Committee of Share India Securities’ Board of Directors, in a meeting on Wednesday, approved an investment of ₹59.5 crore in MSE, acquiring 4.958% of its post-issue paid-up share capital.
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De Beers Group has amassed a diamond stockpile worth approximately $2 billion, the largest since the 2008 financial crisis, due to weak demand in China, rising competition from lab-grown diamonds, and the lingering effects of the Covid-19 pandemic, reported FT. To stabilise the market, De Beers has cut production by about 20% compared to last year and reduced prices at recent auctions.
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The Indian stock markets turned nearly flat by noon on Thursday, with Sensex and Nifty giving up early gains due to lack of significant triggers and subdued activity in the year-end holiday season. Thin trading volumes and pressures from the final monthly F&O expiry of 2024 further contributed to the cautious sentiment as investors wrapped up their books for the year.
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