The Reserve Bank of India (RBI) will conduct a special audit for regulatory breaches by the IIFL Finance Ltd and JM Financial Products Ltd (JMFPL) as it has initiated the process for appointment of auditors. The central bank has floated two separate tenders for appointment of auditors for special audits of the two non-banking finance …
Mumbai: The Securities and Exchange Board of India (Sebi) on Wednesday submitted before the Bombay High Court that it would not take any action for three weeks regarding the summons issued to Zee Entertainment Enterprises Subhash Chandra in an alleged fund diversion case. Chandra had filed a petition in the court on 5 March, alleging …
The recent hyperactivity at both India’s banking regulator and the securities watchdog has caught the market by surprise. Commercial lenders have taken a rap for hiding their bad loans in private-credit funds. Investment banks are under the scanner for pushing initial public offerings past the finish line by funding mule accounts. A homegrown payments pioneer …
MUMBAI :India’s top small-cap fund managers will require substantial time, in some cases up to 30 days, to liquidate a quarter of their portfolios during market upheavals, as revealed by stress tests conducted by various fund houses. Fund houses would likely need between six days and 30 days to exit a quarter of their small-cap …
Nippon India Mutual Fund (MF) released its first stress test report of smallcap and midcap schemes. It manages the largest smallcap fund with assets under management of ₹46,044 crore and released results of the stress test after Sebi instructed funds to disclose them following concerns over build-up of froth in small- and mid-cap funds. SEBI …
Vedanta Ltd on Wednesday said it will appeal against Sebi’s order to pay ₹77.6 crore penalty to Scottish explorer Cairn UK Holdings Ltd for delay in paying dividends to its erstwhile shareholder, news agency PTI reported. Vedanta said the Scottish firm had given up its right to claim interest when it settled a retrospective tax …
New Delhi: ICICI Prudential Asset Management Company has suspended fresh subscriptions through lumpsum mode and switches into ICICI Prudential Smallcap Fund and ICICI Prudential Midcap Fund effective 14 March. The move by ICICI Prudential AMC is in response to heavy flows in the midcap and smallcap categories, resulting in these outperforming largecap stocks and stretching …
There may be pockets of irrational exuberance in the Indian equity markets, the markets regulator said on Monday, referring to concerns over stretched valuations of small- and mid-cap stocks and large inflows into mutual funds investing in these segments. The Securities and Exchange Board of India (SEBI) has suggested mutual fund trustees look at whether …
In an interim order on Thursday, SEBI (Securities and Exchange Board of India) has restricted JM Financial from taking on new mandates as a manager for bond issuances. SEBI restricts JM Financial from new mandates.(REUTERS) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} However, JM Financial is permitted to continue serving as a lead manager for public debt issues …
Small-cap stocks have faced significant pressure in recent sessions, even as benchmark indices reached new record highs. Investors in these stocks enjoyed a remarkable run over the past year, driving up valuations to expensive levels. Analysts note that even minor market corrections are prompting profit-taking among investors. The Nifty Small Cap 100 index has declined …