Abhishek Securities

  Market regulator SEBI has asked the National Stock Exchange  to increase the  corpus of its investor protection fund to  ₹ 1,500 crore from the current  ₹ 550 crore. The low corpus for the IPF has become a key cause of concern for  stock market investors in the backdrop of rising default by brokers. Just in the past three years, broker defaults have exceeded  ₹ 5,000 crore. Stock exchanges are required to settle investor dues from the IPF. Further, SEBI will also  work out a formula by which stock exchanges will increase the IPF every year, sources said. In October, while responding to a question from BusinessLine at a virtual conference, SEBI Chairman Ajay Tyagi had expressed concerns on the low corpus of the IPF maintained by  stock exchanges and said the regulator would take corrective measures. Currently, the BSE has  ₹ 784 crore in its IPF kitty while the NSE, which churns around 85-90 per cent higher volumes, has only  ₹ 594...

  The NSE Academy Limited, an arm of the National Stock Exchange, has acquired a majority stake of 51 per cent in the Hyderabad-based TalentSprint, a deep tech education firm. In the phase-wise acquisition of the stake, the NSE arm would acquire the total stake over a period of three years. Santanu Paul, Co-Founder and Chief Executive Officer of TalentSprint, would continue in the leadership position for three years. The two firms, however, have not spoken on the size of the deal, citing non-disclosure norms. The education technology platform operates in professional learning and executive education space. It has tie-ups with premier institutes like Indian Institute of Science (IIS, Bengaluru), International Institute of Information Technology (Hyderabad) and the Indian Institute of Management (Calcutta) to offer courses in deep tech areas like artificial intelligence, machine learning, blockchain and fintech. It offers advanced certification programmes in emerging and deep technol...

  The Securities and Exchange Board of India (Sebi) on Thursday levied a penalty of Rs 6 crore on the National  Stock Exchange  (NSE) for allegedly investing in six companies unrelated or non-incidental to the  stock exchange  business. These firms are Power Exchange India (PXIL), Computer Age Management Systems (CAMS), NSEIT, NSDL E-Governance Infrastructure (NEIL), Market Simplified India (MSIL), and Receivables Exchange of India (RXIL). The  NSE  held 25 to 100 per cent stakes in these entities through its subsidiary  NSE  Investments as of September. “It is concluded that the noticee (NSE) had engaged, directly or through its wholly-owned subsidiary, in activities that are unrelated or non-incidental to its activities as a  stock exchange  by way of acquisition of stakes in PXIL, CAMS, NSEIT Ltd, NEIL, MSIL, and RXIL without seeking approval of  Sebi.  Thus, it has violated the provisions of regulation 38(2) of  S...

  Radhakishan Damani , billionaire investor and founder of DMart supermarkets, has picked up a stake in the National Stock Exchange ( NSE ), the country's biggest bourse. According to the latest shareholding data filed by NSE, Damani has bought 7.8 million shares of NSE, which constitutes a 1.58% stake in the exchange. The value of the stake could be anywhere between ₹650 and ₹800 crore, industry estimates suggest. The investment has been done in his personal capacity and Damani is currently the biggest non-institutional shareholder in the exchange, data showed. The development comes at a time when the stock exchange is looking to revive its initial public offering (IPO) plans, a move that could increase the value of Damani’s holding further due to premium on the shares. NSE is eyeing a valuation of around ₹45,000 crore, say bankers. Through the purchase, Damani joins the list of over 40 institutions and 200 plus individual shareholders of NSE. Life Insurance Corporation (LIC...