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public sector companies as they may be privy to market-sensitive information with regard to state-owned companies, an official said. In an internal order, the DIPAM said that any officer joining the department would be required to declare his/her holding in public sector enterprises and such shares could only be liquidated by the official concerned after approval from authorities. DIPAM, under the Ministry of Finance, manages government equity in public sector companies and is also responsible for undertaking minority stake sale, strategic disinvestment and privatisation. «DIPAM has issued an internal order saying that officers in the department will not buy or share shares of state-owned companies. The idea behind this is officials in DIPAM may be privy to some information which can be affecting the share prices of companies. It should not be so that they stand to benefit from that information,» the official told PTI.

A group of Republican lawmakers is demanding a federal investigation into the U.S. consulting firm McKinsey over its work with the Chinese government and state-owned enterprises

Zee Entertainment Enterprises has filed a settlement application with the Securities and Exchange Board of India (Sebi) to resolve the markets regulator's ongoing investigations into alleged corporate governance lapses and financial irregularities involving the media and entertainment company's promoters. The application, submitted on Thursday without admitting or denying the allegations, is part of a process under Sebi's settlement regulations, which allow companies to reach an agreement with the regulator. This involves paying a fine or taking corrective actions in exchange for closing the probe. «It has been observed that Sebi believes that the disclosure of financial information and the business transaction in ZEEL have been dealt in a manner which may be detrimental to the investors or the securities market during the investigation period,» the company said in its settlement application.

NCLAT) has closed the insolvency proceedings against Jaypee Healthcare after the financial creditors' dues were settled by Max Healthcare. The appellate tribunal's direction to close the Corporate Insolvency Resolution Process (CIRP) against Jaypee Healthcare Ltd (JHL) came after the financial creditor submitted that they had received the amount of Rs 1,035.29 crore as part of the settlement and no claim had survived. «In view of the fact that the entire claim has now been satisfied and the amount deposited has been disbursed, we see no reason to continue the CIRP any further,» said the NCLAT order passed on Thursday. CIRP against JHL was initiated by the Allahabad bench of the National Company Law Tribunal (NCLT) on June 14 this year, over a petition filed by its lead creditor JC Flowers Asset Reconstruction Ltd.

Bannari Amman Sugars Ltd.(up 1.24%), Simbhaoli Sugars Ltd.(up 0.05%) and Ugar Sugar Works Ltd.(up 0.03%) were among the top gainers.

Adani Enterprises are expected to remain in focus on Friday after the company successfully raised Rs 4,200 crore in a share sale to investors via a qualified institutional placement (QIP). The company has allocated 1.41 crore shares at an issue price of Rs 2,962 each.

Adani Enterprises has successfully completed the qualified institutional placement (QIP), raising nearly Rs 4200 crore. The company has allocated 1.41 crore shares at an issue price of Rs 2,962 apiece. The transaction was launched post-market hours on October 9 with a deal size of Rs 4,200 crores ($500 million) and closed on October 15.

Subscribe to enjoy similar stories. Singapore's Temasek Holdings Pte. Ltd has signed an agreement to buy 17-18% in Blackstone Inc.-backed VFS Global Services Pvt.

Shares of Mahindra Lifespace Developers Ltd.(up 3.13 per cent), Godrej Properties Ltd.(up 2.59 per cent), Phoenix Mills Ltd.(up 1.35 per cent), DLF Ltd.(up 1.07 per cent) and Sobha Ltd.(up 0.32 per cent) ended the day as top gainers in the pack.

Quant Mutual Fund has invested around Rs 2,000 crore in the Adani Enterprises Qualified Institutions Placement (QIP). The QIP committee has approved the total issue size aggregating to approximately Rs 4,200 crore, under the issue by provisions of SEBI ICDR Regulations. As a percentage of total issue size, Quant Mutual Fund has invested nearly 47% in the QIP. Among the list of participants, a major stake was held by Quant Mutual Fund. Five schemes were from Quant Mutual Fund. Quant Small Cap Fund got the highest stake where around 24.68 lakh shares were allotted which is nearly 17.40% of the total issue size.

Subscribe to enjoy similar stories. Edible oil prices are on the boil again. The ‘oils and fats’ group in India’s consumer price index rose 2.5% year-on-year in September, marking the first increase in nearly two years and adding inflationary pressures at a time when the country is already reeling under the strain of high food prices.

Mahindra Lifespace Developers Ltd.(up 1.33 per cent), Godrej Properties Ltd.(up 1.06 per cent), DLF Ltd.(up 0.3 per cent) and Phoenix Mills Ltd.(up 0.2 per cent) were among the top gainers.

Adani Green Energy, India's largest private sector renewable power company, late on Tuesday called off its $1.2 billion bond issue after investors demanded a higher yield than what the company was ready to offer, citing geopolitical uncertainties, people aware of the details said. «There was a lot of to and fro between the company and investors on the pricing of the issue. Investors were demanding better yields and the company was not willing to budge. Finally, the company decided to call off the issue and wait for a better time when geopolitical uncertainties subside and the US presidential election is done,» said a person familiar with the development.

GCCs) in India to provide centralised support to their businesses. Large Indian corporations are also building such facilities, often to beef up their technology capabilities. Reliance Industries, Adani Group, Dr Reddy’s Laboratories (DRL) and Bank of Baroda are among Indian entities that have set up such centres locally in the past two to four years. Indian firms are estimated to have set up around 50 GCCs in the last couple of years in sectors like telecom, financial services and automotive, said Arindam Sen, GCC leader and partner for media, entertainment and telecommunications practice at EY India.

CCI) on Tuesday cleared state-owned Central Bank of India's proposed stake acquisition of stakes in Future Generali India Insurance and Future Generali India Life Insurance. Central Bank of India is a scheduled commercial bank. «The proposed combination envisages acquisition by Central Bank of India of 24.91 per cent equity stake in Future Generali India Insurance Company Ltd (FGIICL),» CCI said in a release. FGIICL provides personal insurance, commercial insurance, social, and rural insurance, etc.

earnings season is underway and as many as 25 companies will announce their earnings on Tuesday. Some of key earnings to watch out include that of HDFC Life, HDFC AMC, PVR Inox among others. Apart from the above, some of the other companies like KEI Industries, Lactose (India), Premium Capital, Bank of Maharashtra, Rallis India, Stylam Industries, Sita Enterprises, Sybly Industries, Teamo Productions, Transchem will declare results for the September quarter.

Manipal Health Enterprises’ Manipal Hospitals has acquired a five-storey hospital property in Mumbai's western suburb Andheri for Rs 415 crore. The hospital has been developed on a land parcel measuring 2.61 acres and has nearly 225,000 sq ft built up area across the building that encompasses a lower ground floor, ground floor and three upper floors. The transaction has been formalised through a deed of transfer between Manipal Health Enterprises and Khubchandani Properties & Investments, besides two other entities—Khoobchandani Hospitals and Perfect Realty.

Bohra Industries Ltd.(up 4.95%), Madhya Bharat Agro Products Ltd.(up 3.55%), Sikko Industries Ltd.(up 1.15%), Chambal Fertilisers & Chemicals Ltd.(up 0.88%), Gujarat State Fertilizer & Chemicals Ltd.(up 0.76%), Mangalore Chemicals & Fertilizers Ltd.(up 0.65%), Krishana Phoschem Ltd.(up 0.52%), Zuari Agro Chemicals Ltd.(up 0.37%) and The Fertilisers and Chemicals Travancore Ltd.(up 0.14%) stood among the top gainers.

CDPQ is set to acquire five build-operate-transfer (BOT) toll road assets of Ashoka Concessions, a subsidiary of highway builder Ashoka Buildcon, for an enterprise value of ₹4,500 crore, said people aware of the matter. The deal will be signed this week, the people said, adding the assets will be bought by CDPQ through its infrastructure trust-Indian Highway Concession Trust (IHCT).

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Subscribe to enjoy similar stories. Bandhan Bank Ltd’s stock price reaction to its September quarter (Q2FY25) business update has been muted. Sure, business growth is impressive, but the Street might be worried about the smooth management transition.