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As per a stock exchange filing made on Tuesday, the proposed appointment will be with effect from July 12 subject to approval of the shareholders. The company is likely to appoint the new chairman amongst these three directors in the next board meeting later this month or early next when Eveready announces its April-June quarterly earnings.

The central bank in May instructed banks that intra-day credits to stockbrokers have to be backed by a minimum margin of 50% in the form of fixed deposits and marketable securities. So, a broker needing ₹500 crore as intra-day funds must cough up at least ₹250 crore as collateral to the lending bank.

"Given the out-performance and benefits of the acquisition will be back-ended, we expect these stocks to underperform following the close of the open offer and for the discount to large-cap peers to widen," said CLSA.

This comes amid a falling rupee, which has triggered a slew of regulatory actions aimed at bringing back overseas inflows and cutting import-related dollar payments.

"Investors are cautioned and advised not to subscribe to any scheme/ product offered by any entities offering indicative/assured/guaranteed returns in the stock market as the same is prohibited by law," the exchange said in a statement.

The regulator has directed them to pay Rs 3.80 crore, which includes interest, recovery cost, charges and expenses within 15 days.In the event of non-payment, it will recover the amount by attaching and selling their moveable and immoveable properties.They will also face attachment of their bank accounts and arrest, Sebi said.

As on June-end this year, the Asset Under Management (AUM) of the company stood at Rs 32,961 crore, growth of 15 per cent over same period last year.Anand Rathi Wealth, which got listed on the Indian bourses in December, operates in the financial services industry with a focus on mutual fund distribution and sale of financial products.

The company had clocked a net loss of Rs 76.02 crore during the April-June period of 2021-22 financial year (FY), it said in a BSE filing.Its total expenses increased to Rs 1,568.92 crore, from 1,313.94 crore in the year-ago quarter.

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The shareholders have approved "equity capital raising plan of the bank during the financial year FY23 through issue of up to 100,00,00,000 equity shares of Rs 10 each by way of various capital raising options at an appropriate time and premium," the bank said.