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Apollo Hospitals to acquire Rs 103.2 crore stake in subsidiary Apollo Health
"... we wish to inform you that the Company is acquiring 35,12,107 equity shares of Rs 10 each at a price of Rs.294/- per share (including premium of Rs.284/- per share) aggregating to Rs. 1032.60 million by way of subscribing to the rights issue of Apollo Health and Lifestyle Limited, a subsidiary of the Company (AHLL)," the hospital chain company informed stock exchanges on Saturday.
‘Should have done better … now learnt the lesson,’ says Paytm founder
Paytm is like a daughter who met with an accident and is in ICU, Vijay Shekhar Sharma says in the context of developments at the payments bank. "I saw it as a daughter on the way for an important entrance test, but met with an accident, and in a way is in ICU right now. That was the feeling from a personal, emotional (point of view),” Sharma said speaking at an event organised by JITO Innovation and Incubation Foundation in New Delhi.
Broadcasters move NCLAT against Google fees on apps
The Indian Broadcasting & Digital Foundation (IBDF), representing TV broadcasters and OTT platforms, appealed to the National Company Law Appellate Tribunal (NCLAT) against an interim order from the Competition Commission of India (CCI). The CCI denied interim relief from Google's app payment policies. IBDF’s counsel urged NCLAT to stop Google from charging fees on app transactions and onboarding. Fees, between 11% and 26%, affect paid app downloads, in-app purchases, even with alternate payments.
Ixigo Q4 Results: Net profit soars 55% YoY to Rs 7.34 crore
Le Travenues Technology Ltd, the parent company of travel booking platform ixigo, on Thursday reported a 55.2 per cent growth in consolidated profit after tax (PAT) to Rs 7.34 crore in three months to March over the year-ago period. The company, which got listed on exchanges last month, had delivered a consolidated PAT of Rs 4.73 crore in the March quarter of FY23, according to a presentation.
RBI issues draft norms to rationalise export-import transactions
Banks under new regulations can flag exporters with outstanding amounts, ensuring timely realization of proceeds. Transparency and efficiency are prioritized in export-import transactions, benefiting businesses of all sizes.
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.
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Sebi mandates email as default mode for dispatching CAS by depositories, Mutual Fund-RTA
Markets regulator Sebi on Tuesday mandated email as a default mode of dispatch of 'Consolidated Account Statement', which provides an account of securities traded by an investor, by depositories and Mutual Fund-Registrar and Transfer Agents (MF-RTAs).
RBI proposes rationalising regulations on export, import transactions
As per the draft, every exporter should furnish to the specified authority a declaration specifying the amount representing the full export value of the goods or services. "The amount representing the full export value of goods and services shall be realised and repatriated to India within nine months from the date of shipment for goods and date of invoice for services," it said.
Attention credit card users! Big credit card rule changes in July of HDFC Bank, ICICI Bank, SBI Card, Citibank
Let us take a look at important credit card related changes of big banks that will come into effect in July.
ITR filing: Credit card and forex spend reported separately by banks in AIS, know the impact and what you can do
Income tax return: While filing your ITR make a note that banks are now reporting total forex spends as a separate category in addition to total credit card spends. According to Gopal Bohra, Partner, N.A. Shah Associates, "Transactions through international credit cards are currently exempt from TCS, and accordingly, banks do not collect TCS. However, banks report all remittances under LRS through TCS filing, irrespective of whether TCS is collected or not."
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.
HDFC Bank credit card charges, term: 9 major changes you should know about
HDFC Bank has made major revisions to its credit card terms and charges. According to the bank's official website, these modifications take effect on August 1, 2024.
US Treasury finalises new crypto tax reporting rules
The new tax reporting requirements for crypto brokers aim to improve accuracy, ensuring that crypto owners pay the tax owed on digital asset transactions. The rules will help simplify reporting and may lead to additional IRS regulations for non-custodial brokers in the future.
ONDC to touch 10 million transactions in June: official
Shireesh Joshi, ONDC's president said the company will touch 10 million transactions in June. " We are growing strong, adding about one million transactions month-on-month," he added. Joshi expressed hope that ONDC will surpass major ecommerce players like Flipkart and Amazon in future.
HDFC Bank credit card charges, rules to change from August 1, 2024: Know about new late payment fee, bill payment rules
HDFC Bank announced major revisions to its credit cardholders about terms and charges. The following changes to your HDFC Bank credit card charges will come into effect on August 1, 2024.
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.
WestBridge Capital sells 1.7% stake in AU Small Fin Bank for Rs 845 crore
WestBridge Capital divested a 1.7% stake in AU Small Finance Bank for Rs 845 crore through an open market transaction, impacting its shareholding in the bank significantly. Goldman Sachs Investments Mauritius I acquired a substantial number of shares in the same bank.
AGS Transact to raise Rs 200 crore to expand operations
In an exchange filing the company had said that its board of directors had approved fund raise by way of preferential warrants to Promoter and Promoter Group along with Non-Promoters at a price of Rs. 79.25 per share.
Jindal Stainless acquires remaining 46 pc stake in Chromeni Steels for Rs 278 cr
Jindal Stainless on Monday said it has acquired the remaining 46 per cent stake in Chromeni Steels Private Ltd (CSPL) for Rs 278 crore. Consequently, CSPL has become a wholly-owned subsidiary of the company, with effect from June 15, 2024, Jindal Stainless Ltd (JSL) said in a release.
AGS Transact looks to widen ATM footprint
The company recently won two orders from State Bank of India to deploy more than 4,000 ATMs over a period of 7 years. "If I consider the SBI contract which we will start deploying in the second half of the fiscal year, we also have a few other banks in the pipeline. So in all we will deploy 3,000 ATMs plus cash recycler machines (CRM)," said Ravi Goyal, chairman, AGS Transact.
Phillips 66 to sell 25% stake in Rockies Pipeline for $1.28 bln
U.S. oil refiner Phillips 66 said on Friday it would sell its 25% stake in the Rockies Express Pipeline (REX) for about $1.28 billion, including debt, to a subsidiary of Tallgrass Energy.
World Record! NSE handles 1,971 crore transactions in a single trading session on Wednesday
The trading volumes shot up today as markets found their nerve following a disastrous Tuesday session with the headline index Nifty settling at 21,884.50, down by 1,379.40 points or 5.93%.
Edelweiss Financial Services shares fall 17% post RBI action on 2 companies
Shares of Edelweiss Financial Services plummeted by 17% on the BSE, hitting a day's low of Rs 64, following a directive from the Reserve Bank of India (RBI). The RBI directed the company to cease and desist from acquiring financial assets due to concerns arising from structured transactions conducted by its group entities.
General Atlantic likely to sell up to 6.8% stake in KFin Technologies today
The base size of the sale is 70.17 lakh shares, constituting 4.1% of the company, with an option to increase to 1.17 crore shares or 6.8% of today's equity.
A market rumour will now no longer remain just a rumour under latest SEBI order
In my article on October 03, 2023, titled “Formation of Industry Standards Forum by SEBI - a pragmatic era in regulation implementation”, I had mentioned that SEBI has introduced a very pragmatic method of drafting standards for implementation of a regulation.
Block deals worth over Rs 13,000 cr this week: Adani Ports, HDFC Bank, Vodafone Idea among stocks with top action
The week gone by was highly volatile, with Nifty gaining 2.2% or 490 points in four sessions and hitting a lifetime high of 23,000. The week was also in the news for block deals involving over three dozen companies from large, mid and smallcap segments worth Rs 13,059 crore on screen.
Sebi's new guidelines on market rumour to help in fair pricing of M&A, other transactions: Experts
Sebi's new guidelines for managing stock price impact arising from market rumours will ensure that the share price used in the merger and acquisition (M&A), buyback, and other transactions are not artificially influenced by speculative market activities, experts said on Wednesday.
Stocks in news: Apollo Tyres, Protean e-Gov Tech, Sun Pharma, Nykaa, Paytm
Warburg Pincus arm White Iris Investment will likely offload 3.5% stake in Apollo Tyres through block deals, according to reports.
HDFC Bank exits Protean eGov Technologies; sells entire stake for Rs 150 crore
HDFC Bank sold 3.20% stake in Protean eGov Technologies. According to the bulk deal data available with the BSE, HDFC Bank sold 12,94,326 shares. The shares were offloaded at an average price of Rs 1,160.15 apiece
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