The Securities Exchange Board of India (SEBI) has detected a case of front running involving an equity dealer with PNB Metlife India Insurance. The dealer, Sachin Dagli, and his associates illegally gained some money over three years. SEBI has issued an interim order barring Dagli and nine associated entities from the market and ordered them to disgorge the illicit gains.
Open FlipThe Allahabad High Court has ordered a probe into allegations that the Himalayan Cooperative Housing Society defrauded the Lucknow Development Authority of crores of rupees by illegally acquiring excess land and transferring it to others. The vigilance department must investigate and file a report by January 20.
Open FlipBetween March 2022 and July 2023, the Federal Reserve raised its benchmark rate 11 times. As a result, money market account (MMA) interest rates rose sharply. Money market account rates have fallen due to the Federal Reserve's recent rate cuts, but some accounts still offer up to 5% APY, and it's essential to compare rates to earn the most on your balance.
Open FlipThe blacklisting of two firms due to incomplete housing projects will cost Ahmedabad Municipal Corporation (AMC) Rs 45.94 crore more to engage a new contractor to finish the pending work. The Housing Improvement and Urban Poor Housing Scheme Committee endorsed two proposals on Friday that will cost the AMC Rs 45.94 crore.
Open FlipIn 2024, fundraising through IPOs in India hit a record high of Rs 1.6 lakh crore. This milestone was fueled by robust economic growth, favorable market conditions, and enhancements in the regulatory framework. The year saw diverse companies, ranging from large to small market caps, tapping into the IPO route, with the average issue size increasing from Rs 867 crore in 2023 to over Rs 1,700 crore.
Open Flip📌The bidding for Unimech Aerospace IPO will commence on Monday, December 23, and conclude on Thursday, December 26. 📌Unimech Aerospace IPO price band is set at ₹745 to ₹785 per share and the IPO lot size is 19 shares. 📌The company has already raised ₹149.5 crore from anchor investors ahead of its IPO opening tomorrow. 📌Unimech Aerospace IPO GMP today is ₹482 per share.
Open FlipThe government has decided to infuse ₹500 crore capital in state-owned IFCI to improve its financial health ahead of the company’s proposed restructuring and consolidation into a group. With the infusion, the government of India’s holding in the company is expected to further increase from existing 71.72 per cent as on September 2024.
Open FlipIndia's key property market Delhi-NCR has remained buoyant during December quarter, with housing sales and new supply estimated to rise 25% and 59%, respectively, according to PropEquity. RE data analytic firm PropEquity data shows that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this calendar year from 10,354 units in the year-ago period.
Open FlipIndustry body CII proposes reforms to India's Priority Sector Lending framework, suggesting inclusion of emerging sectors like digital infrastructure, green initiatives, and innovative manufacturing, and setting up a committee to review PSL norms and explore the need for new Development Finance Institutions.
Open FlipUS stock markets will close early on December 24 and remain shut on December 25 for the Christmas holiday, resuming normal operations until the New Year's holiday on January 1. Meanwhile, Wall Street closed higher on Friday, December 20, with the Dow Jones Industrial Average, Nasdaq Composite Index, and S&P 500 Index all posting gains.
Open FlipSobha Group's philanthropic arm on Sunday laid the foundation stone for building homes for orphaned girls and elderly women here. Sri Kurumba Educational and Charitable Trust laid the foundation stone for Devi Home in Moolamcode, Palakkad, Sobha Group said. This is to provide a safe, nurturing housing facility for orphaned girls aged 10 years and below, and elderly women aged 50 years and above.
Open FlipIndia's leather and footwear exports are expected to grow 12% to $5.3 billion in the current financial year, driven by strong demand in the US and UK, with African markets also being explored. The industry has a potential turnover of $47 billion by 2030, with the sector seeking government support and incentives to achieve this goal.
Open FlipBharti Hexacom and Go Digit General Insurance shares are the latest additions to the FTSE index, according to the latest readjustment which also saw an increase in weightage of heavyweight stocks like ICICI Bank, Bajaj Finance and Kotak Mahindra Bank. The FTSE indices readjustment will be effective Monday, December 23 and the adjustment took place on Friday, December 20.
Open FlipIndonesia claimed victory after Apple Inc. offered to increase its investment in the country to $1 billion to get President Prabowo Subianto’s government to lift a ban on the sale of iPhone 16s. The win may be short-lived. Indonesia needs a manufacturing revival to create jobs and boost economic activity to meet Prabowo’s target of 8% annual growth in the next five years.
Open Flip📌Insurance sector stocks are likely to remain in focus on Monday as the GST Council on Saturday postponed a decision on cutting tax rate on life and health insurance premiums. 📌Major global markets will be closed on Wednesday December 25, 2025 on account of Christmas. 📌The rupee saw a recovery from its all-time low level and appreciated 9 paise to close at 85.04 against the USD on Friday.
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