Vallabh Bhansali-controlled Enam Financial Consultants, one of the leading home-grown investment banks in India, is learnt to be in talks with JP Morgan for a strategic alliance.
The stock market correction seems to be encouraging more and more investors to revive their demat accounts, perhaps to start buying shares, now that the prices have eased from their recent peaks.
The forthcoming public issue by rating agency ICRA Ltd will see State Bank of India diluting its stake in the company by a nominal 0.21 per cent, but the meagre divestment has larger implications on both the entities.
The Budget proposal to impose capital gains tax on transactions in works of art would qualify art as another asset class.
The response was overwhelming even though the members would have to pay a capital gains tax of 20 per cent on their stake sale.
The Bombay Stock Exchange (BSE) planned to list the futures trading in its benchmark index, Sensex.
The New-York based Goldman Sachs, one of the world's oldest and largest investment banking firms, plans to enter the buoyant mutual fund business in India.
An official close to the development said the tender invited by the SUUTI closed in the second week of this month and 12 parties submitted their expressions of interest.
Sebi meet this weekend to also discuss physical delivery in options.
The move comes nearly a month after it acquired five per cent in the National Stock Exchange.
Less than a month after five financial institutions sold 20 per cent in the National Stock Exchange, a consortium of five stakeholders led by State Bank of India are looking to sell an 11 per cent stake in the exchange.
A new wave of e-trading in partnerships with private broking houses is getting popular with banks in recent times.
Following the AMFI approval, these entities would be given the clearance by CDSL Ventures Ltd, the nodal agency for MIN issuances.
Sources close to the developments said the company would announce the deal any day. Morgan Stanley is advising Standard Chartered on the deal.
Pharmaceutical is one of the key theme for 2007 at brokerage houses such as Religare Securities, Angel Broking and Pranav Securities.
London's AIM, Chinese and Korean exchanges interested.
International Finance Corporation, the private equity venture of the World Bank Group, DEG, one of the largest European development finance institutions, are eyeing a stake in State Industrial Corporation of Maharashtra.
After the National Stock Exchange, the focus has now shifted to stake sale soon in two depositories, the National Securities Depository and the Central Depository Services.
The Bombay Stock Exchange is learnt to have shortlisted London, Nasdaq, Deutsche Borse, New York, and Singapore stock exchanges for the proposed sale of its 26 per cent stake.
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