CHARGES LEVIED BY STOCK EXCHANGES
Sebi likely to act against ‘silent’ PMS firms
Regulator Sebi expresses concern over unresponsive PMS firms in the market. Compliance issues and potential misuse of licenses highlighted. APMI maintains communication with compliant members. Sebi closely monitoring the PMS sector with a dedicated team. Further developments expected in this industry.
Sebi's levy order likely to erode Rs 2,000 crore from discount brokers' income, hit client base
Several brokerage companies, including IIFL Securities and Motilal Oswal Financial Services, saw share declines of 3% to 7% due to the regulatory order affecting brokerages, potentially leading to adjustments in zero-payment plans or increased rates.
Sebi diktat: Big impact if brokerages do not change their revenue model: Ajay Kejriwal
The Sebi diktat on differential offerings could impact profit in the range of say 2% to 5% minimum to up to 30%. So, depending on the brokerage model, what they are offering, and what kind of model they are retaining. So the brokerage houses will have to tweak their models, says Ajay Kejriwal, CEO, Choice Equity Broking.
Zerodha may end zero brokerage structure for equity delivery trades after Sebi's order: Nithin Kamath
With the new Sebi circular that mandates uniform charges by market infrastructure institutions like stock exchanges, brokerages are feeling the heat. Zerodha's Nithin Kamath on Tuesday said the brokerage may have to go back on zero brokerage structure or increase brokerage for F&O (futures and options) trades.
Broking stocks fall up to 10% after SEBI calls for uniform charges
SEBI instructed MIIs to ensure uniform charges benefiting end clients, with changes effective from October 1, 2024. The circular aims to rectify incorrect disclosures, especially regarding charges collected from end clients by MIIs. MIIs are directed to redesign charge structures and communicate with SEBI for compliance.
Sebi directs MIIs to implement uniform charge from October 1
Sebi directs MIIs to implement a new charge structure for fair market access, ensuring transparency and equal treatment for all participants.
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Blow to Discount Brokers: Sebi says charges levied by market institutions should be uniform
Exchanges frequently offer lower fees to brokers who generate high trading volumes, which has led to increased activity across segments such as derivatives. Sebi is considering asking exchanges to halt this practice as part of a broader strategy to temper the excessive trading activity in India's derivative markets. Discount broking firms' revenues are expected to get hit as a significant part comes from the paybacks that exchanges give for the volumes they generate.
Sebi tweaks rules for Basic Service Demat Account. Check eligibility, charges
Sebi has introduced new rules for Basic Service Demat Accounts (BSDA). To be eligible, individuals must have only one demat account where they are the primary holder and only one BSDA across all depositories.
Infosys CEO Parekh settles insider trading charges
Salil Parekh, CEO of IT major Infosys, has settled a matter related to alleged insider trading violation by agreeing to pay Rs 25 lakh, said the Securities and Exchange Board of India (Sebi).
Budget 2024: D-Street captains urge FM Sitharaman to hike STT charges on high frequency traders
Every sale and purchase of equities listed on exchanges incurs a Securities Transaction Tax. The STT rate is 0.017% on options sales and 0.01% on futures sales. Additionally, a proposal to discourage retail investors from trading futures and options by imposing an additional tax was reportedly not discussed, according to ETNow sources.
FIU imposes Rs 18.82 crore penalty on crypto exchange Binance
In May, Binance had registered with the FIU as the exchange sought to resume operations in the country after the watchdog issued show-cause notices to nine offshore exchanges operating in violation of local rules.
Sebi mandates direct transfer of securities by clearing corporations to Demat accounts
The proposed change seeks to streamline operations and mitigate risk by directly crediting securities payouts to clients' Demat accounts, bypassing the broker's pool account.
Thematic focus on infra, renewables and real estate likely to continue: Harsh Gupta Madhusudan
Chinese valuations are roughly half of India's, but Chinese earnings growth is also significantly lower. The China trade is more tactical and opportunistic.
Sebi cracks down on gaming apps involved in virtual trading
The Securities and Exchange Board of India (Sebi) has asked exchanges and depositories not to share real-time price data with third parties in a move aimed at quashing such activities.
"New India comes into your home and kills you": Pak UN envoy brings up "targeted assassinations" in homeland, elsewhere
Pakistan's Permanent Ambassador to the United Nations, Munir Akram, has made a bold statement on a global platform, calling "new India" a dangerous entity. He cited alleged targeted assassinations in Pakistan and elsewhere, quoting reports of India's Prime Minister Modi boasting about India's ability to enter homes and kill. This comes amid claims in a British newspaper of India carrying out assassinations inside Pakistan, escalating tensions between the two countries. India has dismissed these claims as absurd, emphasizing its commitment to investigating any evidence presented.
Zee shelled out Rs 432 crore on failed merger with Sony unit
Zee Entertainment faced significant merger-related costs due to a failed deal with Culver Max Entertainment. The company also dealt with impairment charges, headcount reduction, arbitration cases, and demands for termination fees and compensation for damages.
Nestle India shareholders reject proposal to hike royalty to parent
Majority of Nestle India shareholders reject proposal to increase royalty payout to Swiss parent Nestle SA. 57.18% shareholders voted against, including 70.8% public shareholders. The board approved a 5-year royalty increase from 4.5% to 5.25% of net sales. Proposal included Maggi instant noodles and Nescafe instant coffee.
Latest bank charges to send money abroad: SBI, HDFC Bank, ICICI Bank, Axis Bank, IDFC FIRST Bank, DBS Bank India
It means that as per the RBI rules, one can transfer of money up to USD 250,000 per calendar year for defined purposes. However, fees per transaction differ depending on the bank. Here is a comparison of the latest top banks’ charges for sending money abroad.
Exchange of soiled, torn, imperfect currency notes: Bank branches you can exchange, procedure, limit
A ‘soiled note’ means a note which has become dirty due to normal wear and tear and also includes a two piece note pasted together wherein both the pieces presented belong to the same note and form the entire note with no essential feature missing.
Sebi probing charges of 'coerced' voting to delist broking arm of ICICI
"The RMs would have been asked by some senior management personnel of the bank to woo the subsidiary's shareholders to vote in favour of the delisting proposal," said a person familiar with the regulator's thinking. "Sebi is looking into the allegations. Call data records of people involved in this matter will also be examined." Emails sent to ICICI Bank and Sebi remained unanswered.
HNI investors in offshore ‘blank cheque’ companies receive income tax notices
Many resident Indians who bought SPAC shares haven’t disclosed such investments in ITRs. SPACs are established solely to raise capital through a pre-listing offering, aiming to acquire a stake in an existing, primarily unlisted, operating company. Subsequently, the target company can merge with the publicly traded SPAC, thereby becoming a listed entity on major stock exchange
Gold jewellery cost calculation: How jewellers calculate price of gold jewellery
Jewellers calculate gold jewellery price: While buying gold, many people do not check or know how the final bill amount is calculated by the jeweller for the gold jewellery. Further, some of them are unaware if they are buying 22 Karat gold jewellery or 18 Karat gold jewellery. There is a price difference between 22 Karat and 18 Karat gold jewellery.
Girish Mathrubootham steps down as Freshworks CEO; Dennis Woodside takes charge
Freshworks president Dennis Woodside appointed as new CEO. Mathrubootham to be redesignated as executive chairman. Recently his performance-based stock incentives were cancelled recently citing macroeconomic concerns. The Freshworks stock fell nearly 25% as the news sparked a massive selloff. Freshworks was founded in Chennai in 2010, primarily targeting small and medium businesses with its CRM software.
Indian Oil Corporation to Invest Rs 5,215 cr in green power
Indian Oil Corporation announced plans to invest ₹5,215 crore in developing 1 GW of renewable energy capacity in India. The investment, approved by its board, will focus on standalone ground-mounted solar, onshore wind, or wind-solar hybrid projects in phases. Indian Oil will contribute ₹1,304 crore in equity for the initiative, housing its renewable energy business in a wholly-owned subsidiary.
IOC to invest Rs 5,215 cr to build 1GW renewable energy capacity
Indian Oil Corp announced a Rs 5,215 crore investment to develop 1 GW of renewable energy capacity in India. The plan includes setting up standalone solar, wind, or hybrid projects. Indian Oil will invest Rs 1,304 crore in equity and establish a renewable energy subsidiary.
NSE to waive off transaction charges for Junior Nifty F&O trades for 6 months
NSE announced no transaction charges for 6 months in F&O contracts of Nifty Next 50 index to boost participation. Sebi approved trading starting April 24, 2024.
Buy Multi Commodity Exchange of India, target price Rs 4300: Motilal Oswal
Multi Commodity Exchange of India Ltd. key Products/Revenue Segments include Fees & Other Charges and Other Operating Revenue for the year ending 31-Mar-2023.
Levi Strauss surges 20% on profit forecast raise as direct customer sales, cost cuts pay off
Shares of Levi Strauss & Co jumped to a more than two-year high as the jeans maker raised its annual profit forecast, powered by new CEO's cost-cutting initiatives and a focus on direct-to-customer sales.
NSE to cut cash, derivative transaction charges by 1%; rival BSE stock slumps
Currently, the transaction charge in the equity delivery or cash segment is 0.00325% and in the derivatives segment, it is 0.0019%.
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