T+1 settlement For the markets, the Securities and Exchange Board of India (SEBI) has implemented an optional T+1 settlement period. T+1 denotes that settlements must be completed within one day after the transaction’s completion. The stock exchanges must decide whether they wish to opt for the short trade cycle for any of the listed stocks, …
India’s central bank, the Reserve Bank of India (RBI) has now extended tokenisation to include card-on-file (COF) data when its new rules on data storage will come into effect starting January 2022. According to an RBI statement dated September 7, 2021, the device based framework would now be extended to card on file tokenisation and …
An Overview The SEBI modified the customer-based position thresholds for trading in cross-currency derivative contracts on Tuesday. The maximum number of options or futures contracts that an investor can possess on a single underlying securities is referred to as a position limit. It has been decided to amend the client level position limits, per stock …
News that Amazon will offer wealth management services in India broke on a leading daily on 8 September 2021. This certainly marks a changing landscape in the financial sector of India. The news followed Google Pay’s offer to open fixed deposits in India. These moves mark a transition that experts are keen to follow. Let’s …
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) rallied 6% intraday on 6 September 2021. The company’s shares crossed the Rs. 3,000 mark, hitting a new all-time high of Rs. 3,041.20. Moreover, experts suggest that the shares can continue to hit new records and may even touch Rs. 5,000 per stock levels in the …
HDFC Life Insurance Company has decided to convene an extraordinary general meeting (EGM) on 29 September 2021, seeking shareholder’s approval for the Exide deal. Under this Rs. 6,687 crores deal, HDFC Life, will acquire 100% share capital of Exide Life after paying the promoter Exide Industries Rs. 725.98 crores in cash. This EGM will be …
On Monday, 6 September 2021, the IT major Infosys announced that it had almost completed its shares buyback program. Earlier, the Infosys board had approved an Rs. 9,200 crores buyback program to commence from 25 June, buying back shares at a maximum price of Rs. 1,750 apiece. The buyback committee will meet again on 8 …
2020 saw the stocks of Pharma companies rise as the pandemic struck India. This has led to the Pharma sector recovering from its earlier stagnant performance. Presently, in 2021, it continues to be one of the best-performing sectors. Moreover, Pharma companies have been doing well as the demand for immunity boosters and life-saving drugs takes …
Shares of the online food delivery company and restaurant aggregator Zomato hit another high on 3 September 2021. The company’s shares reached a new excessive of Rs. 150.50, a 9% surge on the BSE intra-day trade. Moreover, combined equity shares of 102 million changed hands on the BSE and NSE (data as of 3:05 PM, …
Bank of India is seeking to reduce the Government of India’s stake in its holdings to 75% as per SEBI’s advice. BoI’s CEO and Managing Director, Atanu Kumar Das, relayed this news to Business Standard at the start of September. The bank wishes to pursue this course of action so that it can have adequate …
