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The Securities and Exchange Board of India (Sebi) has broadened the scope of products, securities and services that can be offered by Online Bond Platform Providers (OBPPs), allowing them to offer products and securities regulated by the International Financial Services Centres Authority (IFSCA), as well as certain tax-specific bonds. Under the revised framework, OBPPs can…
WeWork Global on Friday divested a 2.5 per cent stake in flexible workspace operator WeWork India Management for Rs 244 crore through open market transactions. According to the block deal data on the BSE, WeWork Global through its affiliate, 1 Ariel Way Tenant Ltd, offloaded 35 lakh equity shares in five tranches, representing a 2.52…
Market regulator Sebi on Friday proposed allowing individual foreign investors to complete their regulatory onboarding digitally, a move aimed at simplifying the process and boosting their participation in the Indian securities market. Under the proposed framework, intermediaries may undertake video-based customer identification and verification (VIPV) for individual Person Resident Outside India (PROI) clients, including Non-Resident…
Chennai-based Ashok Leyland on Friday reported a 2% increase in its consolidated net profit at Rs 668 crore for the first quarter ended June. The company had posted net profit of Rs 658 crore in the corresponding period of the last financial year. Consolidated revenue rose 10% to Rs 10,750 crore in the period under…
Transitioning to Non-Resident Indian (NRI) status can change your eligibility for several investment options in India, including the National Savings Certificate (NSC). Backed by the government, NSC has long been a popular choice among risk-averse investors looking for assured returns and tax benefits. But what happens to your NSC investment if you move abroad and…
A finance commentator known as Seb’s FIRE Journey has sparked debate online. He questioned assumptions that early retirement would prove boring. His post quickly attracted thousands of views and numerous replies. He compared this to a typical corporate life. He added a gruelling commute home to this. “You think early retirement will be boring? Try…
Reddit shares surged more than 14% on Friday after S&P Dow Jones Indices said the social media company would join the benchmark S&P 500, replacing AvalonBay Communities, Reuters reported. JP Morgan analysts estimated that index funds tracking the S&P 500 would need to buy 16.7 million Reddit shares. That is nearly three times the stock’s…
The Rs 302-crore initial public offering (IPO) of Behari Lal Engineering saw strong response from investors as on the third and final day, getting 108 times bids for shares on offer. In the grey market, the IPO is currently commanding a 28% premium, signalling expectations of a strong listing for the iron and steel manufacturing…
Markets regulator Sebi on Thursday proposed introducing a mandatory colour-coded ‘Credit Risk-o-Meter‘ for debt securities, to help investors assess credit risk more easily before investing. Inspired by the risk-o-meter framework for mutual funds, the proposed tool will use a standardised, colour-coded scale to depict the credit risk associated with a debt security. The move is…
Dubai’s big-ticket property market cools, but offices tell a different story Geopolitical tensions have slowed large commercial property deals in Dubai, with transaction value falling 21% in the June quarter. However, office demand remains strong amid limited supply, with office transaction value nearly tripling as investors favour smaller deals.