Technical Turnaround? Mphasis climbs above 200-DMA, Shitij Gandhi sees room for more gains

'Mphasis stock price climbed back above its 200-day exponential moving average (EMA) and broken out of an ascending triangle pattern. Traders can buy for a target of Rs 2975-3000 in the next 5-7 weeks,' Shitij Gandhi, Senior Technical Analyst, SMC Global Securities, said.
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News18

12 minutes ago

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NSE IPO: SEBI Chief Reaffirms Clearance, Says Demerger Not A Condition

Last Updated: Meanwhile, shares of the National Stock Exchange (NSE) in the unlisted market surged to a record high of Rs 2,300 in recent times. NSE IPO: The Securities and Exchange Board of India (SEBI) chief Tuhin Kanta Pandey reiterated that there will be no hurdle now for the National Stock Exchange (NSE) to launch its long-awaited Initial Public Offering (IPO). In an event at CFO awards in Mumbai, he told that there is no obstacle that will remain in case of NSE-IPO. Pandey clarified that the demerger of clearing corporations before the NSE IPO is not an obstacle. 'That particular thing is not really an obstacle in terms of an IPO process," he stated. He added that the consultation paper on the demerger reflects the regulator's thoughts and is not a final policy decision. Further commenting on NSE, Pandey said, 'I think they are resolving all the issues. There are some legal settlements and other matters, which will require some payments and the withdrawal of certain cases." Unlisted Shares' Price Touching Record High Meanwhile, shares of the National Stock Exchange (NSE) in the unlisted market surged to a record high of Rs 2,300 in recent times after reports surfaced indicating SEBI's relaxation on hurdles. Experts said NSE's share price in the unlisted market has jumped to Rs 2,300, pushing its market cap to around Rs 5.69 lakh crore—an all-time high on May 28th. Earlier, The National Stock Exchange (NSE) had clarified that it has not approached the Ministry of Finance regarding its long-pending Initial Public Offering (IPO), contrary to a recent media report. First Published:

Time of India

an hour ago

• Time of India

Loan scam: Case against education consultancy for duping finance firm of Rs 2.5 crore; police probe in Telangana

HYDERABAD: The economic offences wing (EOW) of Cyberabad police has registered a case of cheating and criminal intimidation against the directors of an education consultancy accused of defrauding a city-based non-banking financial company (NBFC) of over Rs 2.5 crore. According to a complaint filed by Keerthi Kumar Jain (44), director of the NBFC, the company disbursed a loan of Rs 1.5 crore on Feb 28, 2024, to an Erragadda-based education consultancy, represented by its directors B Kishore Kumar and B Shravan Kumar Beengi. The loan was sanctioned based on invoice receivables and employee details submitted by the accused. However, a subsequent internal audit revealed that the invoice was fabricated and the employee records were forged. When the NBFC confronted the consultancy and suspended further disbursals, the accused allegedly severed all communication and even issued threats of 'grave consequences' to complainant. "To date, not a single instalment has been repaid. The borrowers are deliberately evading contact, indicating clear intent to cheat from the beginning," Jain said in his complaint. As of March 29, 2025, the outstanding dues, including principal, interest, and charges, amounted to Rs 2.25 crore. Despite repeated visits, calls, emails, and legal notices, there has been no response from the borrowers, prompting the NBFC to approach the police. Based on the complaint, Cyberabad EOW registered a case on June 17 against Kishore and Shravan under sections 318(4) (cheating), 316(2) (criminal breach of trust), read with 3(5) (common intention) of the Bharatiya Nyaya Sanhita. Police have initiated an investigation and are currently verifying loan documents and financial transaction details between both parties.

New Indian Express

an hour ago

• New Indian Express

SpiceJet asked to pay Rs 25,000 compensation to passenger for issuing wrong ticket

MUMBAI: A consumer commission here has held that a senior citizen suffered "monetarily and mentally" after SpiceJet issued incorrect tickets while rerouting his journey in 2020, and directed the airline to pay a compensation of Rs 25,000 to the passenger. The District Consumer Disputes Redressal Commission, Mumbai (Suburban), in the order passed on June 17, held the budget carrier guilty of "deficient service and negligent behaviour" for the error which caused "mental harassment" to the passenger. In view of the urgent need of the passenger (age not specified in the order), the airline had made an alternate booking - where the wrong ticket was issued - after his initial flight was cancelled due to bad weather. The commission acknowledged that the flight cancellation was beyond the control of the airline, and the Air Traffic Control (ATC) had taken the decision in view of the passengers' safety. It noted the airline had taken all the necessary efforts to provide an alternate ticket to the complainant, However, the said ticket was incorrect and thereby the complainant suffered "monetarily and mentally", it said. The commission further stated the complainant also "acted negligently". "Had the complainant checked the ticket when it was issued, the mistake could have been rectified on the spot and the complainant could have saved himself from further hardship," it said. The complainant, a senior citizen residing in Ghatkopar area here, booked Spicejet tickets from Mumbai to Darbhanga for December 5, 2020, and a return journey two days later.