Sebi asks empanelled law firm to return most briefs given to it
The Sebi action came after ELP represented Subhash Chandra and Punit Goenka, founder-promoters of Zee Entertainment (ZEE) in the securities appellate tribunal (SAT). The Zee founders had challenged Sebi’s June 12 interim order that restrained them from holding directorships or key managerial positions in listed entities on account of alleged diversion of funds.
Benchmark yield rises, pushing up borrowing costs
On Friday, the yield on the 10-year benchmark government bond settled at 7.12%, its highest closing level since April 28. The yield on the 10-year bond settled at 7.12% on Monday too, 15 basis points higher than a low of 6.97% touched on May 19. Over the same period, the yield on the highly liquid […]
Losing revenue, govt to crack down on identity theft and PAN, Aadhaar misuse
The finance ministry has proposed a substantial increase in penalty and punishment to the ministry of electronics and information technology (Meity) for inclusion in the proposed Data Protection Bill, likely to be introduced in the monsoon session of Parliament.
To take off, Go Air must get relief from Singapore court
While the Singapore International Arbitration award had directed P&W to dispatch around 20 engines by December 2023, the engine maker had subsequently challenged it citing payment failure by the airline and the ongoing global supply chain shortage. In its petition which was reviewed by ET, P&W has claimed that the airline owes it over $100 […]
Saudi Arabia and Russia are cutting oil supply again in bid to boost prices
Saudi Arabia and Russia have announced that they will extend cuts to their oil production in order to support prices. The Saudi Energy Ministry will maintain its output at 9 million barrels per day, while Russia will reduce production by an additional 500,000 barrels a day in August. These voluntary cuts are in addition to […]
Over 75% of Rs 2,000 notes returned by users to banks
On May 19, the RBI decided to withdraw the ₹2,000 denomination banknotes from circulation after observing that this denomination is not commonly used for transactions. At that time, in value terms the share of ₹2,000 denomination notes was ₹3.62 lakh crore. That was about 11% of the notes in circulation at the end of March […]
Merger boost: HDFC twins hit new highs
HDFC Bank shares hit a lifetime high of ₹1,757.50 before closing more than 1% higher at ₹1,721.00. The merger of HDFC and HDFC Bank was announced in early April last year, and shares of the two lenders have risen 14-17% since then, including Monday’s gains.