Page 24 - Ortfolio Allocation News Today

Insurance regulator, IRDAI has approved the capital infusion by Axis Bank into Max Life, subject to the approval of the competition watchdog CCI.

Market regulator Securities and Exchange Board of India (SEBI) has asked Anirudh Sethi, director and designated person of Alexander Stamps and Coin Ltd (erstwhile Rudraksh Cap Tech Ltd) (ASCL), to disgorge Rs1.18 crore earned by him as profit from contra trades. SEBI asked him to remit the money to the investor protection and education fund (IPEF) administered by the market regulator.

On Wednesday, 2245 stocks advanced, 1633 declined and 81 remained unchanged, with an advance decline ratio of 1.37 on the Bombay Stock Exchange (BSE), indicating positive closing of stocks in broader markets.

Criticising market regulator Securities and Exchange Board of India (SEBI) for its sluggish approach in handling a case, the Supreme Court rapped SEBI for taking 10 years to conclude an investigation into a case involving alleged violation of listing norms and unfair trade practice. Last year also, the apex court had pulled up SEBI for issuing a show-cause notice (SCN) after a 10-year probe in the Alps Motor Finance Ltd (AMFL) case.

Reserve Bank of India (RBI) has approved an application filed by HDFC Bank Ltd as promoter and sponsor of HDFC Bank group to acquire aggregate holding of up to 9.50% of the share capital or voting rights in six banks. It includes Axis Bank Ltd, Suryoday Small Finance Bank Ltd, ICICI Bank Ltd, Bandhan Bank Ltd, Yes Bank Ltd and IndusInd Bank Ltd.

One97 Communications Limited has reiterated that the company and its associate Paytm Payments Bank Limited are not the subject matter of any investigation for violation of foreign exchange rules.

In a move that would facilitate ease of doing business through the concept of One Nation, One Commodity, One Regulator, the Food Safety and Standards Authority of India (FSSAI) has approved various amendments to streamline food safety and standards regulations.

The Punjab and Haryana high court (HC) has directed the sessions court at Gurugram to decide, within two weeks, on a pending petition filed against PricewaterhouseCoopers (PwC)s former chairman and chief executive officer (CEO) Deepak Kapoor and others.

Setting aside judgments and orders and remitting an execution application to national consumer disputes redressal commission (NCDRC), the Supreme Court (SC) clarified that protection of the moratorium will not be available to the directors or officers of the company undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code (IBC).

Jana is the fourth largest Small Finance Bank (SFB) based on assets under management (AUM) and deposit size as of September 30, 2023. With 771 banking outlets, including 278 in unbanked rural centres, spanning 22 states and two union territories (UTs), Jana has established a significant presence in the banking sector.