Companies and Markets

Companies & Markets

Sebi eases rules to get FPIs from more nations

The Securities and Exchange Board of India (Sebi) has further relaxed the rules governing the foreign portfolio investors (FPI) by expanding the eligible jurisdictions for registration by including countries with diplomatic tie-ups with India.

Besides, the regulator may rationalise “fit and proper” criteria for FPIs as well as simplify broad-based requirements for such investors.

The moves are aimed at easing direct registration for FPIs while discouraging investment through participatory notes (P-notes).

PSUs hire IIT Kharagpur grads; industry eyes PhDs

Two new significant and happy trends marked the end of the first phase of placement season at the Indian Institute of Technology (IIT) Kharagpur, also known as IIT KGP.

The first is the increasing interest being shown by public sector undertakings (PSUs) to hire students from IIT KGP; the second constitutes hiring of PhD scholars through campus placement, say senior officials at IIT KGP.

Telcos gross revenue falls 7% in Q2

In what could be seen as a continuation of low phase in the telecom sector, the gross revenue of all telecom service providers fell by around 7 per cent to Rs 66,361 crore in the July-September quarter 2017 from Rs 71,378.69 crore in the corresponding year last year, revealed a Trai report on Thursday. The adjusted gross revenue, on which telecom operators pay licence fees and other charges, reduced by 17.55 per cent to Rs 41,668.84 crore in the reported period, compared to Rs 50,539.2 crore in Q2 of last fiscal, the Trai performance indicator report said.

RJio to take over mobile business assets of troubled RCom; proceeds to go to lenders

Infrastructure owned by embattled telecoms RCom, vital to the strategic interests of newbie Reliance Jio, was pouched by elder brother Mukesh Ambani from his sibling Anil.

Since Jio is already using RCom towers and optic fibre network, it was incumbent on the former to bid aggressively in the latter’s asset auction.

Mukesh’s Reliance Jio Infocomm (RJio), a subsidiary of Reliance Industries, announced signing of a definitive agreement for the acquisition of specified assets of younger brother Anil Ambani’s Reliance Communications and its affiliates.

Investors hit jackpot as large, mid-cap stocks touch new highs

It has been a spectacular year for equity investors with both mid and large-cap stocks making smart gains and benchmark indices scaling record highs.

While benchmark indices like Nifty and Sensex hit new all-time highs, they recorded gains of 27 per cent outperforming the MSCI global index, which rose 20 per cent during the year.

Iris Computers Bought Back by Founder Sanjiv Krishen

Dragon Singapore, a John Sculley company, had acquired controlling stake in Iris Computers through Inflexion Point. It has now relinquished its hold leaving Irisin the hands of Sanjiv Krishen, who originally founded the company in 1996.

Iris Computers Ltd distributes computer systems and peripherals from leading OEMs like HP, Dell, Samsung and LG, through its network of branches all over the country. Iris showed consistent business growth for more than 20years reaching a turnover of Rs 2,600 crores.

REITS, InvITs allowed to issue bonds via bourses

In an effort to make REITS and InvITs more attractive to investors, markets regulator Sebi has notified relaxed rules that allow these trusts to raise funds by issuing debt securities. The relaxed norms apply to Real Estate Investment Trusts (REITS) and Infrastructure Investment Trusts (InvITs) listed on stock exchanges.

Sun Pharma surges nearly 7% as eye drop gets FDA nod

Shares of Sun Pharmaceutical Industries soared nearly 7 per cent on Wednesday after the US health regulator accepted a new drug application (NDA) for dry eye solution filed by the company's wholly owned subsidiary.

Acceptance of NDA is a key milestone for a new drug being developed by a company. The data gathered during the animal studies and human clinical trials of an Investigational New Drug (IND) become part of the NDA. The Sun Pharma stock surged 6.89 per cent to end at Rs 577.70 on the BSE. Intra-day, it soared 9.16 per cent to Rs 590.

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