D-Street rebounds as US halts Iran strikes; Nifty jumps nearly 2%
Indian equities surged nearly 2% and the rupee gained as traders reduced bearish bets following the US halting strikes on Iran. However, tempered optimism persists due to a lack of reciprocal statements from Tehran and ongoing reports of Iranian attacks, suggesting continued market volatility.
Sterling Biotech: SC orders release of Rs 5,100 crore to banks
The Supreme Court has ordered its registry to disburse ₹5,100 crore from former Sterling Biotech directors to banks proportionally within a week. The court also barred further claims from unsecured creditors and will address the Sebi probe into alleged fund routing on April 2.
Zerodha doubles fee for some intraday F&O trades to Rs 40
Zerodha is doubling brokerage fees to ₹40 for certain intraday derivatives trades from April 1. This applies to traders not meeting SEBI’s 50% cash collateral rule, a gap Zerodha previously covered. The move follows declining volumes and potential STT hikes, prompting other brokers to consider similar pricing adjustments to offset rising costs.
Sebi reposes its faith in WhatsApp, adds riders to be sure
Sebi now permits stock brokers to accept WhatsApp buy/sell instructions from investors, provided these messages are retrievable for investigations. This move addresses compliance concerns and the risk of ‘front running’, allowing WhatsApp chats to be considered legally verifiable records if properly logged and preserved by brokers.
Digital personal loan book tops Rs 1.39 lakh crore; sanctions jump 53%
Digital personal loans are growing rapidly in India. Sanction values increased by 53% in Q3 FY25-26. Digital lenders disbursed 9.9 crore loans worth Rs 1.53 lakh crore in Q1-Q3 FY25-26. Asset quality has improved, with the 90-day past due ratio falling to 1.9%. The sector is reaching more young borrowers and those in smaller cities.
Sebi’s new proposal enables mutual fund gifting through PPIs
Mutual fund investments can soon be gifted using prepaid payment instruments (PPIs), with Sebi proposing a new framework. Individuals can purchase gift PPIs, capped at ₹10,000 and valid for one year, to transfer funds for mutual fund subscriptions. This initiative aims to attract new investors and enhance financial product accessibility.
HDFC Bank hires three law firms to review chairman’s abrupt exit
HDFC Bank has engaged domestic and international law firms to investigate the reasons behind former chairman Atanu Chakraborty’s sudden departure. The review will scrutinize board meeting records and whistle-blower complaints. This proactive step aims for an objective assessment of the issues raised. The bank is committed to upholding high governance standards.