Capital market regulator Sebi on Tuesday introduced a framework for 'scheme of arrangement' by unlisted stock exchanges, clearing corporations and depositories. A scheme of arrangement is a court-approved agreement between a company and its shareholders or creditors. At present, there is no specific provision for unlisted Market Infrastructure Institutions (MIIs) -- stock exchanges, clearing corporations [...]
Even as there is an ongoing global turmoil, hiring intentions in services and manufacturing sectors for the first quarter of 2023-24 are 10 per cent more than the year-ago period, a report said on Tuesday. According to the TeamLease Services' 'Employment Outlook Report' for the Services and Manufacturing sectors for Q1, FY24, despite the ongoing [...]
Axis Securities has appointed Pranav Haridasan as its new managing director & chief executive for a three-year tenure, following the incumbent B Gopkumar moving to head Axis AMC. Haridasan is currently managing director and co-head of equities at Axis Capital and has over 20 years of experience in financial markets across different asset classes. Before [...]
Vedanta Ltd on Tuesday said its board has approved an interim dividend of Rs 7,621 crore for the current financial year. The company has fixed April 7 as record date for the purpose of dividend payment. "The Board of Directors at a meeting held on Tuesday, March 28, 2023 approved the fifth interim dividend of [...]
City-based public sector lender UCO Bank on Tuesday said it hopes to achieve a net profit of Rs 1,500 crore this fiscal year. MD & CEO of UCO Bank S S Prasad said the bank had also doubled market capitalisation in less than a year from Rs 13,000 crore to Rs 28,000 crore thereby increasing [...]
Sanjay Chamria, a former official of Poonawalla Fincorp Ltd, has settled with markets regulator Sebi a case pertaining to alleged manipulative trade practice after paying Rs 42.2 lakh towards settlement charge. Chamria, who was the executive vice chairman of Poonawalla Fincorp Ltd (PFL), proposed to settle the pending proceedings, "without admitting or denying the findings" [...]
The wheat export ban will continue as long as India does not feel comfortable in domestic supplies, Food Corporation of India chief Ashok K Meena on Tuesday. Wheat production will not be affected due to recent rains, confident of achieving the output target, he added. Wheat procurement has started across the country, and 10,727 tonnes [...]
Leading leather footwear supplier Mirza International had received the National Company Law Tribunal’s approval for the merger of promoter group-owned entity RTS Fashions Pvt. Ltd. into the company and the demerger of branded business into Redtape Ltd. The ex-date and record date for the same is 29 March 2023. The company in an exchange filing [...]
Shares of all the ten listed firms of the Adani group ended lower for the second day in a row on Tuesday, with Adani Enterprises tumbling 7 per cent. The stock of Adani Enterprises tanked 7.06 per cent, the most among the group firms on BSE. Shares of Adani Ports slumped 5.66 per cent, Adani [...]
Jindal Stainless Ltd (JSL) will invest around Rs 1,300 crore to set up a greenfield nickel pig iron (NPI) smelter facility in Indonesia to enhance its raw material security, the company's MD Abhyuday Jindal said. JSL is the first Indian company to own nickel reserves in any offshore market, he said, adding that the company [...]
