Market regulator Securities and Exchange Board of India (SEBI) has decided to keep unchanged its Rs5 lakh penalty imposed on Sasidhar V, former head of customer service at Taurus Mutual Fund (TMF), for tampering with the date and time stamping machine (DTSM) at Taurus Asset Management Co (AMC) Ltd. SEBI was hearing the case afresh as per directions from the securities appellate tribunal (SAT).
The NSE Nifty Realty Index has gained 36% since a March-low as cooling inflation allowed the Reserve Bank of India to keep rates on hold. In comparison, a global gauge of real estate stocks rose only 3.6% in the same period.
India s property stocks are expected to continue growing due to the possibility of an interest rate cut by the central bank next year, as well as sustained demand for properties and improving earnings for large companies.