Govt advises states to act against illegal share trading
The government on Thursday said it has advised states and Union Territories to take urgent steps to tackle illegal trading of shares. Sebi has received complaints against some entities on illegal trading of shares in various parts of the country, minister of state for finance Namo Narain Meena informed the Rajya Sabha.
Blackstone to launch Asian real estate fund
Blackstone Group LP is starting a new real estate fund focused on Asia as it seizes on a ‘golden moment’ to buy and sell in the property market, its president said on Wednesday. Blackstone, founded by Stephen Schwarzman and Peter Peterson in 1985, is still best-known for its private equity business, yet is now the world’s largest private real estate firm with $53.5 billion of property assets under management.
Tara Jewels debuts at over 5% premium on bourses
Shares of jewellery maker and exporter Tara Jewels got listed with a premium of over 5% on the bourses over its issue price of R230 per share. The scrip opened at R242, up 5.21% against the issue price on the BSE. Similarly, at the NSE, the stock debuted at R242. However, later, the stock reversed its early gains following profit-booking and hit its lower circuit limit of R229.95 on the BSE. The company’s IPO was subscribed by more than 1.88 times last month.
‘Eight cases of NBFC defaults pending’
The ministry of corporate affairs said eight cases related to default in repayment of deposits by non-banking financial companies were pending with the regional benches of the Company Law Board. There were eight cases pending as on November 30, corporate affairs minister Sachin Pilot told the Lok Sabha. During the last three financial years, 12 applications were received from NBFC depositors in the regional benches of the CLB for default in repayment of deposits on due dates. Of the 12, seven applications — involving R3.73 lakh — came before the New Delhi bench, while the Kolkata bench had two applications where the total amount was R4.35 lakh.