Regulations
Ex-parte order on Unicon Capital Services
Directors and key management personnel of Unicon Capital Services are prohibited from accessing the securities market by a SEBI order.
 
Rajeev Kumar Agarwal, whole time member, SEBI, passed an order restraining Unicon Capital Services Pvt. Ltd. and its directors, namely, Gajendra Nagpal and Ram Mohan Gupta and its two key management personnel , Pawan Dhanuka and Pritam Pandya from accessing the securities market.
 
They have been prohibited (by the SEBI order) from buying, selling or dealing in securities market, either directly or indirectly or being associated with the securities market in any manner whatsoever, with immediate effect, till further directions.
 
The order was passed for their having failed to act in accordance with the requirements of the SEBI Act, 1992, the SEBI (Merchant Bankers) Regulations, 1992, the SEBI (ICDR) Regulations 2009 and SEBI circular dated January 4, 2005.
 

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Midas Touch Assets and Securities restrained from mobilising funds

The company and its directors are prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities, by a SEBI order

 

Prashant Saran, whole time member, SEBI, has passed an interim order on Midas Touch Assets and Securities Limited, directing that the company shall not mobilise funds from investors. Further, the company and its directors are prohibited from issuing prospectus or any offer document or issue advertisement for soliciting money from the public for the issue of securities, in any manner whatsoever, either directly or indirectly, till further orders. 
 
The company and its directors have also been restrained from accessing the securities market and further prohibited from buying, selling or otherwise dealing in the securities market, either directly or indirectly, till further directions.
 
The company and its directors have further been directed not to dispose off any of the properties or alienate the assets of the company and not to divert any funds raised from public, through the offer of cumulative redeemable preference shares, which are kept in bank accounts and/or in the custody of the company without prior permission of SEBI until further orders. 
 
The company and its directors have also been directed to co-operate with SEBI and shall furnish documents, as required by SEBI and provide a full inventory of all their assets and properties and details of all their bank accounts, demat accounts and holdings of shares/securities, if held in physical form.
 
The company was engaged in fund mobilising activity through issue of cumulative redeemable preference shares to more than 49 persons without complying with the relevant provisions of the Companies Act, 1956.
 

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Nifty, Sensex may move sideways – Wednesday closing report

While Nifty will be influenced by overseas markets for now, only a close above 8,420 may lead to a short-term rally   

 

We had mentioned in Tuesday's closing report that CNX Nifty is likely to bounce back, but it may be a short-lived rebound. Today the index moved close to yesterday’s close without any clear direction, it ultimately closed marginally higher.
 
S&P BSE Sensex opened at 27,712 and moved in the range of 27,710 and 27,905, and closed at 27,831 (up 34 points or 0.12%), while Nifty opened at 8,318 and moved between 8,317 and 8,377, closing at 8,356 (up 15 points or 0.18%). NSE recorded a volume of 72.54 crore shares. India VIX fell 2.02% to close at 12.2425.
 
The Ministry of Urban Development yesterday said that a ten-member all Party Parliamentary delegation from Romania, which is currently on a six-day visit to India, has expressed the desire to enhance Romania's engagement with India in parliamentary and economic spheres.
 
Reports said that Parliamentary Select Committee has reportedly cleared the government's proposal of a composite cap of 49% on foreign investment in the insurance sector.
 
The Appellate Body of the World Trade Organization has ruled against the US imposing high duty on imports of certain Indian steel products, a move that will help Indian manufacturers and exporters.
 
India will have stronger GDP growth in 2015, which we forecast at 5%-6%, up from around 5% in 2014 according to Moody's in a report titled -- 2015 Outlook-Global Credit Conditions.
 
A new foreign trade policy (FTP) is under consultation and finalisation, government said today.
 
SKS Microfinance (10.76%) was the top gainer in ‘A’ group on the BSE. The stock hit its 52-week high today. UBS has given the stock a ‘buy’ rating and a price target of Rs500.
Havells India (6.73%) fell drastically after hitting its 52-week high today. It was the top loser in ‘A’ group on the BSE.
 
State Bank of India (3.06%) was the top gainer in Sensex 30 pack. The bank’s chairperson Arundhati Bhattacharya reportedly said that a cut in lending rates was possible, when a little bit more of pick-up took place in credit. She also said the Reserve Bank of India should signal the market with a deeper cut in policy rate for banks to reduce lending rates.
 
BHEL (2.30%) was the top loser in the Sensex 30 stock. The stock was in the news after Parliament informed that the company has initiated the setting up an integrated solar photo-voltaic manufacturing facility of around 500 MW per annum in phases in Maharashtra.
 
On Tuesday US indices had mixed closing.
 
Except for Nikkei 225 (2.25%), Seoul Composite (1.29%) and Taiwan Weighted (1.06%) all the other Asian indices closed in the green. Shanghai Composite (2.93%) was the top gainer.
 
China's annual consumer inflation eased to a five-year low of 1.4% in November. The consumer price index fell 0.2% in November from October, the National Bureau of Statistics said today, 10 December 2014.
 
European indices were trading in the green while US Futures were trading marginally in the red.
 
French industrial output fell in October as production of energy, agricultural and food products declined on the month, official data showed today. Industrial production fell 0.8% in October compared with September, the national statistics agency Insee said.
 

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