Morning Buzz: Exchanges put restrictions on SME stocks, Honasa shares up 20 percent after strong results, and more

Stock exchanges plan to implement the graded surveillance mechanism for shares on the small and medium exchange (SME).
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Exchanges put restrictions on SME stocks

Stock exchanges plan to implement the graded surveillance mechanism for shares on the small and medium exchange (SME). The SME IPO index is up 13 percent this month and 84 percent so far this year. Over the past three years, the index is up 3,000 percent. Since April, SME companies have raised Rs 3,000 crore in IPOs. With the graded surveillance mechanism, margin requirements are increased for SME companies.
(Business Standard)

Honasa shares up 20 percent after strong results

Shares of Honasa Consumer were locked in a 20 percent upper circuit as the company’s Q2 revenue surged 21 percent and volume growth was 27 percent. Shares are now up 31 percent from the IPO price of Rs 324. The company now has four brands with an annual run rate of Rs 150 crore, with Dr Seth’s being the latest to cross that milestone.
(Economic Times, Financial Express, Business Standard)

NBFCs and banks must exercise caution in lending: Finance minister

Non-banking financial companies (NBFCs) and small finance banks must exercise caution while lending and must not go “too far too soon”, said Minister of Finance Nirmala Sitharaman. She pointed to the recent guidelines by the Reserve Bank of India (RBI) to reduce quick lending in the unsecured space, and said that banks need to exercise caution to protect from downside risks later. Sitharaman also commended the Securities and Exchange Board of India (Sebi) for consulting stakeholders before coming out with regulations.
(Economic Times, Financial Express)

Indian Hotels sees data breach

Taj Hotels has suffered a data breach that may have exposed 1.5 million customer accounts. DNAcookies has demanded $5,000 for the full data set that includes names, membership IDs and mobile numbers. Data is from the 2014-20 period. The company is investigating the data breach and has notified the authorities, a spokesperson said.
(Economic Times)