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Latest LIVE: Heavy rains batter Himachal; 37 dead, ₹400 cr worth of damage estimated
The Securities and Exchange Board of India (Sebi) has barred US-based trading firm Jane Street from accessing Indian securities markets for alleged manipulation. In an interim order, Sebi also directed the high-frequency trading firm to disgorge ₹4,844 crore in 'unlawful' gains. The ban will remain in effect until the firm complies with the order to surrender the alleged illegal profits. Sebi's investigation found that Jane Street was responsible for a substantial share of net buying in the 12 Bank Nifty component stocks and their futures. This 'burst of buying' was aimed at influencing the prices of these securities, enabling the firm to take significantly larger and more profitable positions in the highly liquid index options segment.
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Business Standard
28 minutes ago
- Business Standard
Chemkart India IPO opens on July 7: Check price band, GMP, key dates, more
Chemkart India IPO: The initial public offering (IPO) of food and health ingredients distributor Chemkart India will open for subscription on Monday, July 7, 2025. The Mumbai-based company aims to raise ₹80.08 crore through a fresh issue of 2.6 million equity shares and an offer for sale (OFS) of 0.62 million shares. The company has reserved around 50 per cent of the issue for qualified institutional buyers (QIBs), 35 per cent for retail investors and 15 per cent for non-institutional investors (NIIs). Here are the key details of Chemkart India IPO: Chemkart India IPO price band, lot size Chemkart India has set the price band for its IPO in the range of ₹236 to ₹248 per equity share. The minimum lot size for an application is 600 shares. A retail investor would require a minimum investment amount of ₹2,97,000 to bid for at least two lots at the upper end price. The minimum investment required for high net-worth individuals (HNIs) is ₹4,46,400 for three lots. Chemkart India IPO key dates According to the RHP, the three-day subscription window will tentatively close on Wednesday, July 7, 2025. The basis of the allotment of shares is likely to be finalised on or before Thursday, July 10, 2025. Shares of Chemkart India will be listed on the BSE SME platform, tentatively on Monday, July 14, 2025. Chemkart India IPO registrar, lead manager Bigshare Services is the registrar of the issue. Smart Horizon Capital Advisors is the sole book-running lead manager. Chemkart India IPO objective According to the red herring prospectus (RHP), the company plans to use the net fresh issue proceeds for setting up a manufacturing facility through investment in the wholly-owned subsidiary, Easy Raw Materials, and repayment of certain borrowings. The remaining funds will be used for general corporate purposes. Chemkart India IPO GMP The unlisted shares of Chemkart India were trading flat at ₹248, the upper price band as of 3 PM on Friday, according to sources tracking unofficial market activities. About Chemkart India Incorporated in 2020, Mumbai-based Chemkart India provides nutritional, health and sports supplement products. It offers products across mainly seven product categories, including Amino Acids, Health Supplement, Herbal Extract, Nucleotide, Protein, Sports Nutrition, and Vitamin.
United News of India
32 minutes ago
- United News of India
PM Modi to be conferred Trinidad &Tobago's highest honour
Port of Spain/New Delhi, July 4 (UNI) Prime Minister Narendra Modi will today receive the 'Order of Trinidad and Tobago', the highest honor of the country on the second day of his visit to the Caribbean nation. Prime Minister Kamla Persad-Bissessar had yesterday announced that Trinidad and Tobago would confer the award on the visiting Indian Prime Minister. The Prime Minister expressed his heartfelt gratitude to her and the people of Trinidad and Tobago for this honor. This would be Prime Minister Narendra Modi's 25th international honour. Modi, who is in Trinidad and Tobago as part of his five-nation tour, will hold talks with the top leadership of Trinidad and Tobago to further strengthen bilateral relations. Earlier, PM Modi was received by his counterpart Persad-Bissessar at Piarco International Airport, where he was accorded a ceremonial welcome and a guard of honour. While addressing an Indian community event in Trinidad and Tobago, Prime Minister Persad-Bissessar hailed the relationship between the two nations and said, "These are ties of ancestry, of kinship, of sacrifice, and of love. We are bound by history, by shared struggle, and we're bound by common dreams. Through your benevolence, you brought hope and calm where there was fear. This was more than diplomacy. This was an act of kinship, shared humanity, and love. This is one of the many reasons we are deeply proud to bestow upon you The Order of the Republic of Trinidad and Tobago, our nation's highest honor, to be conferred tomorrow..." The Prime Minister of Trinidad and Tobago praised PM Modi's leadership, calling him a "transformational force who has refined the governance of India." She stated that PM Modi has modernized India's economy through his visionary and futuristic initiatives. While addressing the Indian community event in Trinidad and Tobago, Persad-Bissessar said, "What inspires this gathering most is your enduring commitment to the Indian diaspora, promoting culture, history, and the spirit of our shared journey. The ties that bind India and Trinidad and Tobago are not merely diplomatic in nature." Addressing the community event, PM Persad-Bissessar said, "Namaste, Sita-Ram, and good evening. This evening, we are graced by the presence of someone near and dear to us. We are graced by a leader whose visit is not just a matter of protocol but a profound honor for us. So, I am deeply privileged to join everyone here in welcoming one of the world's most respected and admired visionary leaders, the Honourable Shri Narendra Modiji, Prime Minister of the Republic of India, and his delegation on this very historic state visit to Trinidad and Tobago. Prime Minister Modi, your presence is a great inspiration to all of us, particularly to the Indo-Trinidadian community, whose roots are planted in the same blessed Indian soil from which you emerged." Recalling Modi's earlier visit to Trinidad and Tobago in 2002, when he was not Prime Minister of India, she stated that he returned to Trinidad and Tobago as a "distinguished and celebrated leader" whose influence transcends borders. Mentioning the Fatel Razack, the first ship that carried Indians to Trinidad in 1845, she said, "On your first visit to our country, you were not then Prime Minister. But as part of a cultural ambassador, as part of the World Hindu Conference in 2002. Today, sir, you return as the head of a government of more than 1.4 billion people. You return as a distinguished and celebrated leader whose influence transcends boundaries. We bow to you, sir." The visit is of particular significance as it represents PM Modi's first official trip to the Caribbean nation as India's Prime Minister, and is also the first bilateral Prime Ministerial-level visit from India to Trinidad and Tobago since 1999. Atal Bihari Vajpayee was the last Prime Minister to have visited the country in 1999. UNI AAB RKM
Time of India
33 minutes ago
- Time of India
Air India's budget carrier delayed engine safety order, forged records: Memo
India's aviation watchdog reprimanded Air India 's budget carrier in March for not timely changing engine parts of an Airbus A320 as directed by European Union's aviation safety agency, and falsifying records to show compliance, a government memo showed. In a statement, Air India Express told Reuters it acknowledged the error to the Indian watchdog and undertook "remedial action and preventive measures". Air India has been under intense scrutiny since the June Boeing Dreamliner crash in Ahmedabad which killed all but one of the 242 people onboard. The world's worst aviation disaster in a decade is still being investigated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 years of commitment to sustainability and innovation Acciona The engine issue in the Air India Express' Airbus was raised on March 18, months before the crash. But the regulator has this year also warned parent Air India for breaching rules for flying three Airbus planes with overdue checks on escape slides, and in June warned it about "serious violations" of pilot duty timings. Air India Express is a subsidiary of Air India, which is owned by the Tata Group . It has more than 115 aircraft and flies to more than 50 destinations, with 500 daily flights. Live Events You Might Also Like: Air India warned for flying Airbus planes with unchecked escape slides The European Union Aviation Safety Agency in 2023 issued an airworthiness directive to address a "potential unsafe condition" on CFM International LEAP-1A engines, asking for replacement of some components such as engine seals and rotating parts, saying some manufacturing deficiencies had been found. The agency's directive said "this condition, if not corrected, could lead to failure of affected parts, possibly resulting in high energy debris release, with consequent damage to, and reduced control of, the aeroplane." The Indian government's confidential memo in March sent to the airline, seen by Reuters, said that surveillance by the Directorate General of Civil Aviation (DGCA) revealed the parts modification "was not complied" on an engine of an Airbus A320 "within the prescribed time limit". "In order to show that the work has been carried out within the prescribed limits, the AMOS records have apparently been altered/forged," the memo added, referring to the Aircraft Maintenance and Engineering Operating System software used by airlines to manage maintenance and airworthiness. The "mandatory" modification was required on Air India Express' VT-ATD plane, the memo added. That plane typically flies on domestic routes and some international destinations such as Dubai and Muscat, according to the AirNav Radar website. The lapse "indicates that accountable manager has failed to ensure quality control," it added/ Air India Express told Reuters its technical team missed the scheduled implementation date for parts replacement due to the migration of records on its monitoring software, and fixed the problem soon after it was identified. It did not give dates of compliance or directly address DGCA's comment about records being altered, but said that after the March memo it took "necessary administrative actions", which included removing the quality manager from their position and suspending the deputy continuing airworthiness manager. The DGCA and the European safety agency did not respond to Reuters queries. Airbus and CFM International, a joint venture between General Electric and Safran, also did not respond. The lapse was first flagged during a DGCA audit in October 2024 and the plane in question took only a few trips after it was supposed to replace the CFM engine parts, a source with direct knowledge said. "Such issues should be fixed immediately. It's a grave mistake. The risk increases when you are flying over sea or near restricted airpsace," said Vibhuti Singh, a former legal expert at the India's Aircraft Accident Investigation Bureau. The Indian government told parliament in February that authorities warned or fined airlines in 23 instances for safety violations last year. Three of those cases involved Air India Express, and eight Air India.
