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Weekend Wrap: From Indian Overseas Bank to REC, top news and market movers this week: 22 September 2023

The US Federal Reserve held the interest rates steady in the 5.25%-5.50% range but indicated another increase this year.

As per the data released by Central Board of Direct Taxes, India’s direct tax collections surged by 23.5% to ₹ 8.65 lakh crore between 1 April and 16 Sep on an annual basis.

SEBI empanels 34 entities for conducting forensic investigation of Mutual Funds, AMCs, Trustees in a bid to safeguard unitholders’ interest amidst the expanding mutual fund industry.

Shares ofR R Kabel andEMS got listed at a premium of 14% and 33% over the issue price of ₹1035 and ₹211 respectively while IPO of SAMHI Hotels, Zaggle Prepaid Ocean Services and Yatra Online got oversubscribed by 5.7, 12.9 and 1.7 times respectively.

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