INFOSYS INSIDER TRADING
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).
Infosys settles insider trading charges with Sebi, agrees to pay Rs 25 lakh fine
Parekh agreed to pay Rs 25 lakh (around $30,000) for failing to have adequate controls to prevent insider trading, the Securities and Exchange Board of India said.
Block deals worth over Rs 40,543 crore this week. Indus Towers, HAL, Suzlon Energy among stocks with major action
Despite the Nifty index closing the shortened trading week with a slight increase of 0.4%, significant activity was observed in block deals. Over three dozen companies across various market caps saw block deals worth a total of ₹40,543 crore, involving both buying and selling.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
Ahead of Market: 10 things that will decide D-St action on Monday
Nifty formed a long-legged Doji candle on the daily charts to breach a 5-day losing streak as it ended 42 points higher at 22,531. The 50-DMA is placed at around the 22,400 level, and a slip below this level could shift the test to the 22,300-22,260 zone.
Rs 3 lakh crore Diwali bonus! Sensex jumps over 700 points. 6 factors behind the rally
Led by strong participation from retail investors, the rally in smaller stocks showed no signs of slowing down as the Nifty Smallcap50 outperformed with a 1.6% jump. The post-Diwali rally made investors richer by about Rs 3.3 lakh crore as the total market capitalisation of all BSE-listed stocks jumped to Rs 325.41 lakh crore.
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Tug-of-war between FIIs and DIIs leaves D-Street directionless
From the Sensex stocks, ICICI Bank, Bajaj Finance, UltraTech Cement, Infosys, and M&M opened in the red, while Asian Paints, Wipro, HCL Tech, Tata Motors, and Maruti opened with gains.
Groyyo investors tap Deloitte; new-age firms hired more in FY23
Big4 company Deloitte has been mandated by the investors of Groyyo — Tiger Global and Alpha Wave Global — to ‘work with’ the startup and take a closer look at its trading business. This and more in today’s ETtech Morning Dispatch.
Tata Digital's Esop delay; inside Nithin Kamath's Rainmatter
Hit by top-deck exits in the past year, Tata Digital, the ecommerce arm of the Tata Group, is trying to assuage senior executives who are still waiting for the stock option component of their pay. This and more in today’s ETtech Morning Dispatch.
Why is India edgy about Israel's war? The threats that loom over India
The ongoing conflict between Israel and Hamas poses several potential threats to the Indian economy. One major concern is the impact on oil prices, as India relies on imports for 85% of its oil needs. Higher oil prices could lead to increased import costs, fuel/fertilizer subsidies, and a weaker rupee, which would affect the country's current account deficit and GDP growth.
Data Protection Act: A ‘mind-what-you ask-for’ moment for startups & other top tech stories
Perhaps what could turn out to be one of the most crucial acts for Digital India was undertaken by the Indian Parliament through the passage of the Digital Personal Data Protection Bill, 2023 earlier this week. While the law will impact every entity in this country that deals in the personal data of Indian citizens, tech companies and consumer facing startups are perhaps going to be impacted the most.
Insider trading rules: Infosys gets Sebi warning on SDD records
Indian market regulator, Securities and Exchange Board of India (Sebi), has warned Infosys after finding it in violation of insider trading rules, having found that certain log entries were delayed in the digital database maintained by Infosys under SEBI’s Prohibition of Insider Trading Regulations.
Piyush Goyal to meet ecommerce players; Binny Bansal cashes out of Flipkart
Executives from different ecommerce companies are likely to meet commerce and industry minister Piyush Goyal to deliberate upon the national ecommerce policy. This comes as the government is trying to understand the business models of online groceries and quick commerce platforms. This and more in today’s ETtech Morning Dispatch.
Tata Power among 3 stock ideas for next week: Kunal Shah
The index experienced a sharp correction from higher levels, and the resistance at 19800 is acting as a significant barrier for the bulls. However, the bulls are attempting to defend the index from lower levels and prevent further downside. If the index breaks below the support level of 19550, it may indicate further correction towards the 19400 levels, suggesting continued bearish sentiment in the market.The current trading range for the index is between 19550 and 19800. A break on either side of this range will likely lead to trending moves in the market. Traders should closely monitor the index's price action and be prepared for potential trading opportunities based on the breakout direction.
The seven-year glitch: Inside the govt's war to plug the GST leakage
India's Goods and Services Tax (GST) regime needs to plug leakages that cause tax evasion, which has increased in recent years despite stable collections, officials have said. The number of cases of GST evasion detected has increased to about 14,000 this year from 12,574 in 2021-22 and 12,596 in 2020-21. The growing evasion will, however, fuel further growth of GST collection if it can be stopped through efforts such as the use of end-to-end analytics examining entire supply chains and gap analyses of taxes paid in those chains.
Microsoft, Google beat quarterly revenue estimates; fake social media influencers put companies in a spot
Tech titans Google-parent Alphabet and Microsoft announced better-than-expected earnings on Tuesday, propelled by a cloud- and AI-backed wave that could breathe new life into the sector. This and more in today’s ETtech Top 5.
SoftBank sheds another 2% in Paytm; will approach GST Council on 28% tax once gaming rules in place: Chandrasekhar
In May, SoftBank had sold a 2.07% stake in Paytm through open market transactions that began in February. Prior to the latest transaction, SoftBank held around 11% in the Noida-headquartered fintech company.
Premium products power online sales as mass-market hit by slowdown; ISRO grey cells fuel spacetech startups
Ecommerce sales — excluding smartphones — have surged 24% in Q2. Industry insiders and research firms indicate that the growth in smartphones is driven by premium devices. This and more in today’s ETtech Morning Dispatch.
FIIs bullish on 2 midcap IT stocks but reduce bets on Infosys, TCS
Latest shareholding pattern shows that FIIs pared their stake in Infosys by 120 bps to 35.09% in March quarter and in the case of bellwether Tata Consultancy Services (TCS) their holding went down by 22 bps to 12.72%.
A long trade in tech & tobacco major for a swing trade
With Thursday being a holiday, the markets started positively on Wednesday, the expiry day of the monthly derivative series. The Nifty ended the day with a gain of three-fourths of a percent. Meanwhile, some blue-chips are showing signs of a technical pullback
Stocks to buy or sell today: 10 short-term trading ideas by experts for 12 September
The highest new open interest (OI) addition was seen at 18,000 for Calls and 17,000 for Puts in weekly and at 18,000 for Calls and 16,000 for Puts in monthly contracts. Hence, 18,000 will act as a crucial resistance level.
Sebi passes confirmatory order in matter related to insider trading in Infosys scrip
Through an interim order passed in September, Sebi had barred them from accessing securities market and had also directed impounding of illegal proceeds of Rs 2.62 crore.
Sebi bans ex-Infy, Wipro staffers in insider trading case
Sebi said in an ex-parte interim order dated September 27 that Ramit Chaudhri, the Infosys employee, and Keyur Maniar, a Wipro staffer, have been banned from trading in securities and that their demat and bank accounts have been frozen.
Another Infosys employee banned by Sebi over insider trading
The capital market regulator’s investigation found that Ramit Chaudhri had access to the unpublished price-sensitive information regarding the Vanguard deal.
Sebi levies Rs 12 lakh fine on individual for insider trading in Infosys scrip
Sebi had conducted an investigation in the scrip of the firm to ascertain if market norms, including the Prohibition of Insider Trading (PIT) Regulations, were violated.
Infosys shares close lower amid insider trading case
The stock dipped 0.55 per cent to close at Rs 1,379.75 on the BSE. During the day, it went lower by 1.81 per cent to Rs 1,362.20.
Infosys begins probe into insider trading allegations against two of its executives
Sebi has barred eight entities, including Infosys executives Pranshu Bhutra and Venkata Subramaniam VV, from accessing the capital markets after an investigation into alleged violations of insider trading rules.
Insider trading charge tests Infosys' pledge to live up to Murthy ideals
Nilekani’s return was equivalent to the return of the lost son. He was expected to return the company to the good old days when corporate governance was not mere lip service given to shareholders during annual general meeting, but a way of life.
E-commerce gets a booster shot
In today's ETtech Morning Dispatch newsletter, e-commerce firms get a pandemic boost from Mumbai and Delhi; Digital payments see a sharp decline; and Infosys begins internal probe after insider trading allegations.
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