by Hansraj Agrawal | Sep 11, 2024 | Share Market
Last Updated : Sep 11 2024 | 8:04 PM IST
Route Mobile announced an offer for sale of up to 38,00,000 equity shares of the company (representing 6.03% of the total issued and paid up equity share capital of the company) by Proximus Opal (promoter of the company). The issue opens for non-retail investors on 12 September 2024 (T day) and for retail investors / non-Retail Investors who choose to carry forward their unallotted bids from T day on 13 September 2024. The floor price of the offer shall be Rs 1,635 per equity share.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 11 2024 | 7:52 PM IST
Source link
by Hansraj Agrawal | Sep 11, 2024 | Share Market
Last Updated : Sep 11 2024 | 7:50 PM IST
Lemon Tree Hotels announced its latest signing – Lemon Tree Hotel, Pune. The property, which shall be managed by Carnation Hotels, a wholly-owned subsidiary of Lemon Tree Hotels, is expected to open in FY 2026.
Lemon Tree Hotel, Pune will feature 117 well-appointed rooms, a restaurant, a bar, a meeting room, banquet facilities, a swimming pool and a spa. The Pune International Airport is about 21 kms from the property while Pune Railway Station is about 20 kms away. The hotel is also well connected by roadways for both public and private transport.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 11 2024 | 7:34 PM IST
Source link
by Hansraj Agrawal | Sep 11, 2024 | Share Market
Additionally, the regulator has asked trading members to report their exposure under MTF by 6:00 PM on T+1 day. | Photo: Shutterstock
2 min read Last Updated : Sep 11 2024 | 7:28 PM IST
To promote ease of doing business, markets regulator Sebi on Wednesday allowed securities funded through cash collateral to be considered as maintenance margin for margin trading facility (MTF).
The move will also help alleviate the burden of additional collateral towards the maintenance margin for the margin trading facility.
The development took place after the Securities and Exchange Board of India (Sebi) received representations from market participants through the Industry Standards Forum (ISF) to relax the requirement pertaining to the margin trading facility.
In a circular, Sebi said stocks or units of equity exchange-traded fund (ETFs) deposited as collateral with the brokers and those purchased using margin trading must be kept separate. There should be no mixing of these two types for calculating the funding amount.
“In case the broker has collected cash collateral from the client in the form of margin for availing margin trading facility and the trading member has given the said cash collateral to the Clearing Corporation (CC) towards settlement obligation of the said client, then the same can be considered as maintenance margin,” Sebi said.
If a broker collects cash collateral from a client and uses it to meet settlement obligations with the Clearing Corporation the resulting securities received from CC can be considered as maintenance margin. These securities must be pledged in favour of the broker.
Sebi said if funded stocks are used as maintenance margin based on cash collateral provided by the client, the funded stocks must be from Group 1 securities. The margin for these stocks will be Value at Risk (VaR) plus five times the Extreme Loss Margin, irrespective of whether they are available in the Futures & Options (F&O) segment.
Additionally, the regulator has asked trading members to report their exposure under MTF by 6:00 PM on T+1 day (the day after the trade date).
First Published: Sep 11 2024 | 7:28 PM IST
Source link
by Hansraj Agrawal | Sep 11, 2024 | Share Market
Last Updated : Sep 11 2024 | 7:31 PM IST
Ramkrishna Forgings has provided Corporate Guarantee upto an amount of USD 6.65 million to Ramkrishna Forgings Mexico S.A. de C.V,, Mexico (erstwhile Resortes Libertad S.A. de C.V.), wholly owned subsidiary company, for taking rented space on lease from Operadora Stiva S.A. de C.V., Mexico.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 11 2024 | 7:13 PM IST
Source link
by Hansraj Agrawal | Sep 11, 2024 | Share Market
Last Updated : Sep 11 2024 | 6:04 PM IST
The Trade Connect e-Platform is a single window initiative that is fast, accessible and transformational as it will enable exporters to add newer markets. This was stated by Union Minister of Commerce and Industry, Piyush Goyal during the launch of the Trade Connect e-Platform today in New Delhi. Goyal said that our focus should be to identify the opportunities in the world market. He said that with the launch of this platform India will be able to increase its market share in the world, adding that international opportunities will be showcased on the platform. Small FPOs, businesses and entrepreneurs will also be able to access this platform, learn of the Free Trade Agreement (FTA) benefits that are available to expand their trade, the Union Minister noted. Goyal expressed confidence that before the next trade board meeting, e-Platform 2.0 will be ready with enhanced features and stressed the need for working on the feedbacks received for the platform from all the users and stakeholders.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 11 2024 | 5:53 PM IST
Source link
by Hansraj Agrawal | Sep 11, 2024 | Share Market
Last Updated : Sep 11 2024 | 6:04 PM IST
Securities and Exchange Board of India (SEBI) issued guidelines regarding allowing securities funded through cash collateral as maintenance margin for Margin Trading Facility (MTF). SEBI noted that the stocks or units of Equity ETFs deposited as collateral with the stock broker for availing margin trading facility (Collaterals) and the stocks or units of Equity ETFs purchased under the margin trading facility (Funded stocks) shall be identifiable separately and no comingling shall be permitted for the purpose of computing funding amount. Further, in case the broker has collected cash collateral from the client in form of margin for availing margin trading facility and the Trading Member has given the said cash collateral to the Clearing Corporation (CC) towards settlement obligation of the said client, then same can be considered as maintenance margin to the extent of securities received from CC against such cash collateral given to CC and such shares are pledged in favor of trading member in form of funded stock.
Powered by Capital Market – Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
First Published: Sep 11 2024 | 5:51 PM IST
Source link
