EDUCATIONAL ENDEAVOUR
The small finance bank is now formulating a strategy where it would offer its customers 5-7 transactions free per month when they use the ATM network of other banks to withdraw cash.
"Noticees being insiders had executed off market transactions while in possession of Unpublished Price Sensitive Information (UPSI)," Sebi said.
HDFC AMC operates as a joint venture between Housing Development Finance Corporation (HDFC) and Standard Life Investments. As of June 30, 2021, Standard Life held a 21.23 per cent stake in the mutual fund house, while HDFC owned 52.65 per cent.
From the technical perspective, TuesdayтАЩs session temporarily marked an intermediate top for the market in the 17,900-17,950 zone.
Mazhar Mohammad of Chartviewindia.in said that todayтАЩs intraday low of 17,576 levels index almost tested the lower boundary of its 26-day old ascending channel along with 13-day simple moving average.
The floor price has been fixed at Rs 2,870 apiece, a 6.65 per cent discount to TuesdayтАЩs closing price of Rs 3074.
Zee is witnessing a battle between its largest shareholder Invesco Developing Markets Fund and the original promoters. Invesco wants to remove Punit Goenka, Zee's long time chief executive and managing director, in an Extraordinary General Meeting (EGM).
The current framework allows issuance of superior voting rights shares to promoters or founders holding an executive position in the company desirous of listing on the Main Board.
Nifty filled its upward gap at 17,610 which it formed on September 23. тАЛтАЛтАЛHowever, swift recovery in the last one hour indicates that Nifty might consolidate in the 17,550 -17,900 zone.
Shares of Apple, Microsoft Corp, Amazon.com Inc and Google-parent Alphabet Inc dropped between 1.1 per cent and 3.5 per cent.
IT and realty stocks were among the biggest drags. Respective Nifty indices fell 2-3 per cent. On the other hand, PSU bank, power, oil & gas and metal indices ended in the green.
Jio will now offer 20% cashback on popular pre-paid recharge options, which means JioтАЩs plans are now almost 30% cheaper than the rivals. This is a major setback for Bharti Airtel and, in particular, for Vodafone Idea, which is banking on price hikes to salvage its operations after the relief provided by the government.
The proposal for the creation of a Social Stock Exchange was put forth by Finance Minister Nirmala Sitharaman in her Budget speech in July 2019.
Without naming the Google and Equitas tie up to garner deposits, T Rabi Sankar, RBI deputy governor while speaking at the Global FinTech Fest also said that entities other than banks are not allowed to directly deal in deposits.
Analysts say multiple supports are placed near the 17,600 level, but they do not rule out high volatility in the coming days. They advised traders to be cautious with their short-term trading positions.
Under the current regulations, a company that is acquiring 49 per cent stake in a listed entity and sees its total stake rise over the 75 per cent mark post an open offer has to forcefully reduce its stake below the minimum public shareholding mark.
Nifty50 formed a bearish candle on the daily scale, with a longer lower shadow, indicating declines are getting bought into.
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