Mumbai: The Securities and Exchange Board of India (Sebi) has moved the Supreme Court against a service tax demand raised by the Central Goods and Services Tax (CGST) department. The Supreme Court registered the case on December 2, the official website showed. The capital markets regulator has been involved in a prolonged battle with the … Read more
In May, Sebi had issued a consultation paper on the proposed exchange for trading in digital gold, and final regulations should be published soon. Synopsis The Securities and Exchange Board of India (Sebi) plans to regulate online trades in digital gold now sold by various fintech firms and brokerages, two people with direct knowledge of … Read more
Mumbai: Most brokerages have retained a bullish view on despite the company’s March quarter profit missing estimates. Sun Pharmaceutical reported a 123% year-on-year rise in its consolidated net profit for the quarter ended March to ₹894.2 crore. CLSA, HSBC, and Motilal Oswal maintained buy, while Kotak Institutional and IIFL maintained add rating. Jefferies retained underperform. … Read more
Investec raised target price to Rs 1,785 from Rs 1,640. Synopsis Morgan Stanley retained overweight and raised target price to Rs 1,816 from Rs 1,721 saying that valuations remain compelling and the company has delivered well in a tough financial year. IIFL also said the stock trades inexpensively, and retained the buy rating with a … Read more
Besides, an NRI controlled investment manager (or the asset management company) running an FPI must register itself as a ‘non-investing FPI’ with Sebi. Synopsis FPIs have to bring down the aggregate contribution of NRIs and OCIs (along with resident Indians) in a fund to below 50% by December 31, 2020. Also, contribution by an NRI/OCI … Read more
Mumbai: Brokerages have a mixed view on Maruti Suzuki India after the car maker reported a net loss of Rs 249.4 crore for the June quarter-its first loss in 17 years. Antique, CLSA, and Kotak Institutional Equities maintained sell rating on Maruti, while Investec downgraded the stock to sell. Nomura has maintained hold recommendation. Emkay … Read more