Market (Page 36)


A joint move by and RBI for liquidity window to the has helped induce confidence in the system, though not much demand for the scheme was seen, the capital market regulator said on Saturday.


In view of the possible redemption pressure that the mutual fund industry may face after the abrupt winding up of six debt schemes of Franklin Templeton Mutual Fund, the central bank announced a special liquidity window of Rs 50,000 crore for in April end.



“The move by & RBI jointly to extend a liquidity window to helped build confidence in the system, though not much use was made of the window,” an Indian Chamber of Commerce statement quoted whole-time director G Mahalingam as saying.


No further details on this was shared.


Mutual Funds need


regulator on Friday restrained 10 entities from accessing the for one year for violating market norms while dealing in the scrip of Mystic Electronics Ltd.


conducted a probe to determine whether the entities violated market norms while dealing in the scrip of Mystic.



The investigation noted that the scrip of Mystic witnessed unusual fluctuation in price and volume during the period between March 19, 2013, and March 31, 2015.


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noted that certain connected entities were contributing to the price rise with their buy orders that were significantly above the last traded price even though the fundamentals of the company would not justify such trades.


The repeated buy trades substantially above the last traded price was not


Coming down heavily on IKF Technologies Ltd, its two officials and Clifford Capital Partners AG SA for manipulating the issuance of global depository receipts (GDR), regulator has slapped a total fine of Rs 15.1 crore on the firm.


During the course of investigation, noted that IKF Technologies had come up with GDR issues on two occasions–on March 30, 2007 and May 15, 2009– amounting to $ 11 million and $ 10.98 million respectively, accoding to order passed on June 24.



In this regard, Pan Asia Advisors was the book running lead manager for both of GDR issues of IKF. Arun Panchariya was the founder, director as well as 100 per cent shareholder of Pan Asia.


It was found that the complete process of GDR issuances by IKF was devised and structured by Panchariya in connivance


prices fell $2 a barrel on Wednesday, as investors worried about record high crude inventories and feared that a second wave of the pandemic could stall the reopening of global economies and cut fuel demand.


was down $2.04, or 4.8 per cent , to $40.59 a barrel by 11:03 a.m. EDT (1503 GMT), a day after hitting its highest since prices started plunging in March. US West Texas Intermediate (WTI) crude fell $2.04, or 5.1 per cent , to $38.33 a barrel.



US inventories swelled last week by 1.4 million barrels, far exceeding analysts’ expectations in a Reuters poll for a 299,000-barrel rise, the Energy Information Administration said, citing rising production.


US gasoline stocks fell by 1.7 million barrels to 255 million barrels, the EIA said.‚Äč


“Because of the increase in


regulator on Tuesday restrained 20 entities from accessing for conducting fraudulent trading in the scrip of Pyramid Saimira Theatre, thereby violating market norms.


The regulator has also directed two entities to disgorge unlawful gains of over Rs 21 lakh, made while dealing in the scrip of the firm.



found that as per media reports published in December 2008, the regulator had directed one of the promoters of Pyramid Saimira Theatre, P S Saminathan, to make an open offer for an additional 20 per cent stake at a price of at least Rs 250.


This led to an increase in the share price of Pyramid on December 22, 2008.


However, the company told exchanges that it had not received any communication from


The next day Saminathan told exchanges that he


edged higher on Monday as major producers cut crude output, but price gains were limited by worries that a rise in infections worldwide might stall a recovery in fuel demand.


was up 48 cents, or 1.1 per cent , at $42.67 a barrel by 11:45 a.m. EDT (1545 GMT).


The West Texas Intermediate (WTI) crude contract for August, which became the days more active contract, rose 50 cents, or 1.2 per cent , to $40.33.


South Korea said for the first time that it was in the midst of a second wave of the coronavirus, keeping prices from rallying further.

The World Health Organization reported a record rise in global cases on Sunday, with the biggest increase coming from North and South America.



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