Sebi chairperson Tuhin Kanta Pandey highlighted concerns regarding the misuse of SME regulatory relaxations. Instances of fund diversion to related parties and shell companies were observed. Some SMEs also engaged in unfair trade practices to manipulate market sentiment. Sebi is reviewing regulations to strengthen the SME framework and enhance investor protection.Read More

The government is on the brink of a historic merger between Power Finance Corp and REC, with plans for preferential share allocation to retain public ownership. This initiative could potentially see the government’s stake drop to under 51% after the consolidation.Read More

Analysts are divided on BHEL’s ₹4,422 crore offer for sale, with caution on valuation but optimism over its order book. While short-term investors may see no immediate upside, those with a medium to long-term horizon could find merit in bidding. The OFS is seen as a divestment exercise rather than a rerating trigger.Read More

SEBI has fined Cyquator Media Services ₹4 lakh for violating takeover regulations. The ZEEL promoter failed to disclose the creation and invocation of a pledge on 60.5 lakh shares in December 2016. Additionally, an incorrect disclosure was made regarding a 2019 share transfer.Read More

Asian equities reached a record high, outperforming US markets due to attractive valuations and robust growth prospects. This surge occurred as Treasuries declined following stronger-than-expected US jobs data, tempering expectations for Federal Reserve interest rate cuts. The market now awaits US inflation figures for further direction.Read More

Canara Bank has lowered its one-month and overnight MCLR rates by five basis points, effective February 12. The new rates of 7.90% and 7.85% respectively will lead to reduced borrowing costs for customers. This move aligns with the RBI’s aim for transparent interest rate transmission amidst growing credit demand.Read More

Indian companies saw mixed results in the December quarter. Consumer sectors like automobiles, banking, cement, and pharma performed well due to festive demand and GST cuts. However, labor code changes impacted profitability. Future trends will depend on rural demand, US trade measures, and raw material prices. Companies are focusing on new launches and efficiency to...Read More

MSCI has added Aditya Birla Capital and L&T Finance to its Global Standard Index, anticipating nearly $495 million in passive inflows. Indian Railway Catering And Tourism Corporation (IRCTC) will be excluded, potentially seeing $141.6 million in outflows. The MSCI India Small Cap Index also saw significant rejigging with additions and deletions.Read More

The Indian microfinance market has shrunk to ₹3.22 lakh crore, marking a significant 16% year-on-year decline and reaching a three-year low. This contraction is attributed to a large bank reclassifying micro loans as retail and an acceleration in writing off bad loans, despite some lenders showing improved recovery and business normalization.Read More

Canara Bank is selling ₹577 crore debt of Supreme Housing and Hospitality. A Swiss challenge auction is planned. The bank has also filed a petition to restart insolvency proceedings. This follows a failed one-time settlement offer by the company. The auction aims to gauge investor interest. Bids are due February 21. An electronic auction is...Read More