The SEBI has issued observation letters to Jyoti CNC Automation and Popular Vehicles & Services on December 15, while BLS E-Services received the said letter on December 12.
BLS E-Services, a subsidiary of BLS International, runs a web-enabled services portal to access various services provided by the government and service partners. The company claims to provide end-to-end integrated solutions to various services availed through this portal.
The earlier norm was to bid huge amounts in a single application and corner shares in allotment. Now, it has changed to putting up multiple applications by turning to friends, family or even foe, said experts
Jefferies said NBFCs with a higher share of unsecured consumer loans like SBI Cards (100%), Bajaj Finance (37%) & Aditya Birla Finance (21%) should be most affected by tighter capital norms. Large private banks will see higher impact due to higher share of unsecured loans, according to the brokerage. The impact on public sector banks will be a tad lesser than larger private banks, it said.
BSE's Sensex dropped 187.75 points, or 0.28 per cent, to end at 65,794.73. NSE's Nifty50 shed 33.40 points, or 0.17 per cent, to end the day at 19,731.80. Broader markets outperformed the headline indices for the day.