Samie Modak &Amp;Amp; Khushboo Tiwari

Stories by Samie Modak &Amp;Amp; Khushboo Tiwari

NSE withdraws plan to move Nifty Bank derivative contracts to Friday

NSE withdraws plan to move Nifty Bank derivative contracts to Friday

Rediff.com   28 Jun 2023

The National Stock Exchange (NSE) has withdrawn its decision to change the expiry day for Bank Nifty derivatives contracts from Thursday to Friday. The move follows a "request" from the BSE, which settles its Sensex and Bankex derivatives contracts on Friday. The proposed change in Bank Nifty settlement was scheduled to be effective from July 6 with the first weekly expiry on July 14.

'Next 10-20 years are going to be India's golden years'

'Next 10-20 years are going to be India's golden years'

Rediff.com   19 Jun 2023

'Even where we are now today, the growth rates are very good, but we need to get to 8-9 per cent growth in the years to come.'

More than skin-deep: Nifty Next 50 complexion to get a shade of difference

More than skin-deep: Nifty Next 50 complexion to get a shade of difference

Rediff.com   12 Jun 2023

The National Stock Exchange (NSE) Nifty Next 50 Index could undergo large-scale changes if the proposed tweaks to its computation methodology get implemented. In a discussion paper floated recently, NSE Indices, which owns and manages a portfolio of over 350 indices under the Nifty brand, proposed that only stocks that are traded in the futures and options (F&O) segment can be part of the index. Currently, as many as 11 non-F&O stocks are part of the Nifty Next 50 Index, which, as the name suggests, represents the next rung of large and liquid securities after the Nifty50.

NSE to shift Nifty Bank F&O expiry day to Friday, weeks after BSE

NSE to shift Nifty Bank F&O expiry day to Friday, weeks after BSE

Rediff.com   7 Jun 2023

The National Stock Exchange (NSE) will shift the expiry of Bank Nifty derivatives contracts from Thursday to Friday, after smaller rival BSE did so earlier. The change, effective July 7, will apply to both weekly and monthly futures and options (F&O) contracts of the widely traded banking sector index. The first Friday expiry will be on July 14, 2023. NSE dominates the derivatives segment.

NSE to reduce time for trades in unlisted market as it awaits IPO

NSE to reduce time for trades in unlisted market as it awaits IPO

Rediff.com   6 Jun 2023

The National Stock Exchange of India (NSE), which is still awaiting regulatory approval for its initial public offering (IPO), is now planning to streamline the process of buying the unlisted stocks of the company, thereby reducing the time taken for such deals from about four months to just a week. The management of India's biggest stock exchange has affirmed that it is working to reduce the time taken. According to the analysts, certain approvals required at present from NSE for buying stocks, are adding to the processing time.

Sebi proposes enhanced disclosure requirements for high-risk FPIs

Sebi proposes enhanced disclosure requirements for high-risk FPIs

Rediff.com   1 Jun 2023

The Securities and Exchange Board of India (Sebi) has proposed stricter disclosure norms for certain foreign portfolio investors (FPIs) to bring in more transparency and trust against the backdrop of the Adani-Hindenburg Research saga. Under the new norms, FPIs with an exposure of more than 50 per cent to a single group or with assets of over Rs 25,000 crore will be tagged as 'high risk' and will be required to provide additional information such as full identification of their ownership, economic interests, and control rights. A failure to provide these disclosures will lead to invalidation of the FPI registration.

Sebi mulls removing differential treatment of investor classes in AIFs

Sebi mulls removing differential treatment of investor classes in AIFs

Rediff.com   1 Jun 2023

The Securities and Exchange Board of India (Sebi) is mulling doing away with the priority distribution (PD) model in Alternative Investment Funds (AIFs) and introducing in the regulation pro-rata rights (based on the ratio of their commitments) for investors. AIFs are pooled investment vehicles but certain schemes have been observed to be following a differential distribution model where one class of investors, often a junior class, share loss more than the ratio of their contributions in comparison to the senior class of investors. As the senior class of investors have priority in distribution over the junior class of investors, the profit distribution is done first to these investors while they are compensated for loss out of the residual capital of junior class investors.

Bourses push Sebi to allow longer F&O hours amid Gift Nifty launch

Bourses push Sebi to allow longer F&O hours amid Gift Nifty launch

Rediff.com   1 Jun 2023

Close on heels of the launch of Gift Nifty (earlier SGX Nifty), domestic exchanges are pushing for extension of trading hours for the onshore derivatives market, said sources. Bourses are waiting for a final approval from market regulator Sebi on the proposal to keep the derivatives market open for longer hours, they said. The move is aimed at attracting more trading members for onshore futures and options (F&O) contracts amid risk that global investors could prefer trading at Gift City given the tax benefits.

US recession 'imminent', time to book profits, says BofA Securities

US recession 'imminent', time to book profits, says BofA Securities

Rediff.com   29 May 2023

Boom, bust or a bit of both: as the jury bides time before ruling on the US 'recession', the economy's vital signs at a perplexing time of high-interest rates, still-punishing inflation, and surprisingly strong economic gains are a study of a growing debate over whether the world's largest economy is barrelling into a new downturn. With the US Federal Reserve's (Fed's) inflation fighters attempting the risky pursuit of 'pillow-soft landings' and its economy sending out mixed signals, if there is indeed a recession, it could spell trouble for domestic equities and corporate earnings growth.

Colocation case: NSE receives Rs 300 crore from Sebi

Colocation case: NSE receives Rs 300 crore from Sebi

Rediff.com   24 May 2023

The National Stock Exchange (NSE) has received Rs 300 crore from the Securities and Exchange Board of India (Sebi) following relief from the Supreme Court (SC), which is hearing an appeal by the market regulator in the colocation case. The court on March 20 asked Sebi to return Rs 300 crore to the NSE from the Rs 1,107 crore the exchange had deposited as part of the disgorgement in the case. The NSE had given an undertaking that it will return the entire amount to Sebi if the latter wins its appeal before the SC.

A year after listing, LIC scorecard lacks lustre

A year after listing, LIC scorecard lacks lustre

Rediff.com   24 May 2023

State-owned Life Insurance Corporation of India (LIC), which completes one year of its listing on Tuesday, presents a sorry scorecard as far as its stock market performance goes. Shares of the insurance behemoth are down 40 per cent over their issue price of Rs 949 to Rs 567 apiece. The Sensex, on the other hand, has risen 14 per cent in the past one year.

In a first, Sebi mulls rules for fractional ownership in real estate

In a first, Sebi mulls rules for fractional ownership in real estate

Rediff.com   22 May 2023

The Securities and Exchange Board of India (Sebi) has for the first time proposed to regulate online platforms offering fractional ownership in real estate, a model already popular in countries like the United States and UAE. In a consultation paper floated recently, the capital markets regulator stated that such fractional ownership of real estate assets was proposed to be brought as MSM (micro, small, medium) REITs under Sebi (Real Estate Investment Trusts) Regulations. This model allows investors to own a fraction or a small share in a real estate asset like buildings and office spaces, which could include warehouses, shopping centres, conference centres.

Cracking the whip: Stricter rules against suspicious trading on cards

Cracking the whip: Stricter rules against suspicious trading on cards

Rediff.com   19 May 2023

The Securities and Exchange Board of India (Sebi) has proposed new regulations to deal with suspicious trading activities-a move that will empower the market watchdog to go after entities making unusual profits without any fundamental basis. The regulator has issued a discussion paper, inviting feedback on the draft of the Sebi (Prohibition of Unexplained Suspicious Trading Activities in the Securities Market) Regulations, 2023, which are aimed at curbing front-running, use of mule accounts, pump and dump schemes, and misuse of social media influencers. Currently, Sebi's Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) and Prohibition of Insider Trading (PIT) Regulations deal with such activities.

NSE lifts lid on dabba trading, tippers, issues warnings to 24 platforms

NSE lifts lid on dabba trading, tippers, issues warnings to 24 platforms

Rediff.com   18 May 2023

New-age tech tools and 'mystery shoppers' are helping the country's top bourse stay ahead of the curve against dabba trading platforms and entities dolling out unsolicited investment tips. In the past one month, the National Stock Exchange (NSE) has issued close to two dozen warnings and advisories against such activities. "We saw a rise of dabba trading or illegal trading platforms after the pandemic.

AIF commitments jumped 30% to Rs 8.33 trillion in FY23, shows data

AIF commitments jumped 30% to Rs 8.33 trillion in FY23, shows data

Rediff.com   17 May 2023

Alternative investment funds (AIFs) - pooled investment vehicles catering to high net worth individuals (HNIs) - saw a 30 per cent increase in investment commitments during financial year 2022-23 (FY23). At the end of March 2023, the total investment commitments raised stood at Rs 8.33 trillion, up Rs 1.92 trillion from Rs 6.41 trillion at the end of March 2022. A commitment is the money clients are willing to put into AIFs.

Warring sibling promoters put Hikal's future at stake, says InGovern

Warring sibling promoters put Hikal's future at stake, says InGovern

Rediff.com   15 May 2023

The infighting between the two promoters of Hikal-Baba Kalyani and sister Sugandha Hiremath-has put the company's growth at stake, InGovern has said in a note. The corporate governance firm has called for a change in the management and an overhaul of its board to protect the interest of minority shareholders, who own almost a third of the specialty chemicals company. The Kalyani and Hiremath families are mired in a legal dispute, with the latter seeking transfer of ownership of shares held by the Kalyani group, citing nearly three-decade old family arrangement.

New mutual fund schemes with performance-based fee on anvil

New mutual fund schemes with performance-based fee on anvil

Rediff.com   11 May 2023

The Securities and Exchange Board of India (Sebi) is considering a proposal to allow mutual funds (MFs) to charge a fee based on their performance, said Ananta Barua, whole-time member of the markets regulator. He said the proposal is being reviewed by a working group formed to look into cost structures. "One working group has been set up which is going to review... One of the suggestions is that if any scheme or fund is performing well above the benchmark, it (fee) can be linked to its performance.

Small- and mid-cap shares raced ahead of large caps in April

Small- and mid-cap shares raced ahead of large caps in April

Rediff.com   8 May 2023

With markets getting back their mojo after four months, small- and mid-cap shares raced ahead of large caps in April. The Nifty Smallcap 100 index surged 7.5 per cent - its biggest monthly advance in 10 months - and outperformed the benchmark Nifty 50 index by 350 basis points. The Nifty Midcap 100 index soared 5.9 per cent, most since August.

IFSC relaxation may boost trade in foreign stocks at the GIFT City

IFSC relaxation may boost trade in foreign stocks at the GIFT City

Rediff.com   8 May 2023

The Reserve Bank of India's (RBI's) decision on Wednesday to relax restrictions on banks operating in the International Financial Services Centre (IFSC) related to the repatriation of idle funds in foreign currency accounts (FCA) could give a fillip to trading in foreign stocks at the GIFT City.

Low exposure to Adani stocks tilts active vs passive debate

Low exposure to Adani stocks tilts active vs passive debate

Rediff.com   2 May 2023

Actively managed mutual fund (MF) schemes had been at the receiving end over the past few years for their inability to beat their benchmarks. However, the slump in shares of Adani Group companies - two of which are part of the benchmark National Stock Exchange Nifty50 index - have helped them improve their performance vis--vis exchange-traded funds (ETFs) or index funds.