Sebi proposes to widen definition of relatives in insider trading rules
The Securities and Exchange Board of India (Sebi) suggested expanding insider trading rules to include more relatives as ‘connected persons.’ The new definition aims to encompass a wide range of family members who might have access to sensitive information, thereby tightening regulations and preventing insider trading activities.
State-run oil marketing cos’ shares can see 16-18% upside: UBS
UBS has increased price targets for BPCL, HPCL, and IOC, forecasting a 16-18% upside. The firm upgraded IOC and HPCL to ‘buy’ while keeping BPCL at ‘buy.’ UBS anticipates crude price moderation, boosting integrated margins for Indian state-owned oil marketing companies without any retail fuel price cuts if crude stays above $80 per barrel.
Asian shares fall as slew of rate decisions ahead: Markets wrap
Asian markets started lower as investors reduced their positions ahead of significant upcoming events like central bank decisions and major economic data. Equities in Japan and Australia dropped, with futures in Hong Kong indicating a similar trend. Treasuries had gains, while US stock futures saw a slight decline.
Stocks in news: Tata Consumer, Varun Beverages, IOC, ACC, PNB Housing
Domestic markets saw a slow start after an initially strong session. Tata Consumer, Varun Beverages were in focus due to results announcements. ACC and HPCL reported substantial profit declines. Quess Corp and India Cements had notable financial transactions. ITD Cementation won a significant order, and Tata Steel acquired equity shares in T Steel Holdings.