Removal of tax on dividends could be the biggest welcome step for the Indian equities which would boost the system with long-term consistent inflows & reboot the market sentiment, Sacchitanand Uttekar, Tradebulls Securities said.
The Central Bureau of Investigation on 18 December 2020 registered 2 separate cases of alleged bank fraud worth ₹8,239.79 crore. While Canara Bank filed a complaint of fraud to the tune of ₹7,926 crore against Hyderabad_based Transstroy (India) Ltd, State Bank of India has filed a complaint of fraud of ₹313.79 crore against Chennai_based Agnite Education Ltd.
Mrs Bectors Food Specialities recorded the highest subscription among all IPOs in 2020 and the 2nd in the last five years. Their Rs 540.54-crore IPO received subscription of 198.02 times during 15-17, December, 2020 backed by a strong response from all investors including its employees, though they had a significantly smaller portion compared to others.
The CBI on Friday carried out searches at three locations in Lajpat Nagar Delhi after booking Jay Polychem Ltd in a ₹1,800 cr alleged bank fraud in the State Bank of India (SBI), officials said.
The agency has received a complaint from the State Bank of India (SBI) against the Lajpat Nagar based company and it’s promoters and directors for causing a loss of ₹1,800.72 cr to a consortium led bybank, they said.
Paytm Money, the wealth management arm of digital payments major Paytm, is about to open up IPO investments for its users, the corporate said during a press note on Monday. This is a part of the Alibaba- and Softbank-backed Paytm’s overall aim to expand its financial services bouquet and match larger tech brokers like Upstox, Zerodha and 5Paisa in terms of offerings.
The Reserve Bank of India has turned down the proposal of Muthoot Finance Ltd. to acquire IDBI Bank’s mutual fund business, said sponsoring a mutual fund isn’t in consonance with the activity of an operating NBFC. According to a regulatory filing by IDBI Bank Ltd. on November 24, a share purchase agreement with regard to sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019.
