Indian markets are outperforming its global peers this year. Last week was especially a stellar one where Nifty and Sensex hit their fresh all-time highs of 17,793 and 59,737, respectively. Meanwhile, Bank Nifty completed its loose end to check its new all-time high. Relief package for the telecom sector, the announcement of a nasty bank, strong FII inflow and large short-covering were […]
Insider trading: SEBI restrains Poonawalla Fincorp MD, 7 others
The Securities and Exchange Board of India (SEBI) has barred Abhay Bhutada, director of Poonawalla Finance, and 7 others from accessing the stock exchange after alleged trading . In a 46-page interim order, SEBI said the eight entities had made total wrongful gains of Rs 13.58 crore through trading in shares of Magma Fincorp (now Poonawalla Fincorp) round the time it had been acquired by Rising Sun Holdings (RSHPL). […]
Banks call on government to ease pressure on debt-laden Vodafone Idea
Banks led by depository financial institution of India (SBI) have called on the Indian government to offer debt-laden Vodafone Idea longer to clear its tax dues and spectrum fees, two bankers and a government official conversant in the matter said. An Indian court last year ordered the mobile carrier, a venture between the Indian unit of Britain’s Vodafone Group and Aditya Birla Group’s Idea Cellular, […]