Brokerage Geojit Financial Services has launched a new platform to offer a portfolio of small and mid-cap stocks selected on the basis of behavioural finance and thus having higher return potential. The new platform called Lotusdew Prestige offers a basket of stocks that uses behavioural finance and AI to identify dominant market conviction using unconventional methods like M&A analysis, earning surprises, order book wins, dividends, stock splits to spot small and mid-cap stocks, the company said in a statement. The new basket will have 80 per cent small-cap and the rest will be mid-cap covering several high-growth sectors such as pharma, software and consumer lending, among others.
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Sun Pharmaceutical Industries along with seven of its executives including Dilip Shanghvi (managing director) and Sudhir Valia (director) has settled a pending dispute with the Securities and Exchange Board of India (Sebi) by agreeing to pay a cumulative penalty of Rs 2.92 crore.
Sun Pharma has agreed to pay Rs 56 lakh, while Shanghvi will pay Rs 62.3 lakh, and Valia Rs 37.4 lakh. Other individuals have agreed to pay between Rs 18.5 lakh and Rs 37.4 lakh. The matter pertains to violation of related party norms and allegations of fund diversion. Two whistle-blowers had alleged that Sun Pharma and its wholly owned subsidiary Sun Pharmaceutical Laboratories had been diverting funds through Aditya Medisales, its sole distributor in India. It was further alleged that the diversion continued for several years but Sun Pharma had declared Aditya Medisales as a related party only in 2017-18.
Investors worried as India mulls banning Bitcoin
Bitcoin surged past $47,000 on Tuesday after Tesla said it had invested $1.5 billion in the cryptocurrency.
Synopsis
Following the government’s announcement that it plans to ban private cryptocurrencies, the family office has approached a leading foreign exchange lawyer to check if any laws have been violated.
Tesla’s big bet on Bitcoin has helped propel it to record levels. But in India, those with exposure to cryptocurrencies traded overseas are not joining the celebration. Reason: they are uncertain about the fate of their investments as the Indian government moves toward banning cryptocurrencies such as Bitcoin. Many of these investors, worried that they might be on the wrong side of law, are rushing to seek legal opinion on the road ahead.
Updated Feb 10, 2021 | 07:48 IST
Sebi started a probe against the Gurugram-based airline after it had received several complaints from IndiGo co-founder Rakesh Gangwal alleging several violations. IndiGo pays Rs 2.10 crore to Sebi to settle alleged violation of corporate governance.
New Delhi: InterGlobe Aviation Ltd, which operates budget carrier IndiGo, has settled a case with the Securities and Exchange Board of India (Sebi) involving lapses of alleged corporate governance by paying Rs 2.10 crore as settlement charges. The market regulator initiated a probe against the airline after it had received several complaints from IndiGo co-founder Rakesh Gangwal alleging several violations.
The company has settled the matter without admitting or denying any violation on its part, by paying a settlement charge of Rs 2.10 crore, according to a Sebi notification issued on Tuesday.