Sena chief has now put ball in BJP's court indicating that Shiv Sena's tiger is back to roar. Sanjay Jog reports
While the ruling combine faces strong anti-incumbency factor, opposition Shiv Sena-BJP needs to strive to win majority. Sanjay Jog reports
Jayshree P Upadhyay ' Mumbai September 9, 2014 Last Updated at 22:50 IST Top Stocks to Buy in 2014 8-10 Best Stocks for 2014 per month Highly Accurate Calls, Free Trial stockaxis.com/Stocks-to-buy-in-2014 Ads by Google 3 Add to My Page RELATED NEWS Foreign investor cap in bourses may be raised Sebi sets foreign portfolio investor limit of 10% per firm Sebi move on FPI regime grounded No clarity yet on FPI regime Jaimini Bhagwati: Correcting tax and disclosure anomalies Karbonn Titanium S5 Plus Be 1st to own latest Android phone with Dual SIM, 8 MP Camera & more!www.karbonnmobiles.com/S5_Plus 1Cr Life Cover @ Rs 543* Compare Premium of 46 Insurers Buy Online and save upto 55%www.policybazaar.com/TermInsur_Rate Ads by Google In a move that could increase the stake of foreign investors in Indian stock exchanges, the government is considering a threefold increase in the single-investor investment ceiling. Currently,a foreign portfolio investor (FPI) investment in an exchange is capped at five per cent. The finance ministry has written to the regulatory authorities to increase the ceiling to 15 per cent, said sources. The proposal is said to have in-principle approval from the Securities and Exchange Board of India (Sebi) and the Reserve Bank of India (RBI). The move would bring the FPI investment limit in line with those for financial institutions such as insurance companies and banks. NEW POLICY IN THE WORKS Single foreign investor limit in exchanges to be revised from 5% to 15% Sebi and RBI have given in-principle approval to the proposal Government to amend foreign investment policy BSE has 8 foreign shareholders holding 31% stake NSE has close to 20 foreign shareholders holding 36% stake The government allowed the foreign investors to invest in stock exchanges in 2006, with an overall cap of 49 per cent. This latter cap is likely to be unchanged. BSE and the National Stock Exchange (NSE), the two large nationwide bourses, are likely to benefit from the increase in limits. BSE has eight foreign investors, which cumulatively own about 31 per cent in it. The shareholding of Deutsche Boerse Group and Singapore Exchange Ltd are a little below the five per cent ceiling. NSE has about 20 foreign shareholders, holding around 36 per cent. Cyprus' Gagil and Goldman Sachs own five per cent each; Citi Group has around two per cent. "The finance ministry has received representations stating that the present limit of five per cent is a deterrent in attracting long-term anchor and strategic foreign investors in stock exchanges. Following which, the ministry has sought comments from both Sebi and RBI," said a person privy to the matter. A higher foreign investor limit will not only encourage more investment in Indian bourses but help in exchange of technology and products, said exchange officials. "A five per cent limit on the shareholding of any single investor or investor group is too small to encourage them to take sufficient interest in growth of the exchange," said an official associated with one, asking not to be named. The regulator and the government are also mulling a change in the shareholding of clearing corporations, which could also see individual foreign investors' cap being increased to 15 per cent. Some sections of the market believe that allowing a single FPI to own 15 per cent in a exchange could be detrimental to having a diversified shareholding. The Bimal Jalan committee, in the previous review of ownership and governance of stock exchanges in 2010, had debated whether there was a need to revise the cap. It was in favour of having an anchor investor, such as a bank or financial institution, which would own up to 24 per cent. Read more on: Fpi ' Sebi ' Rbi ' Nse ' Foreign Investor ' Singapore Exchange ' Finance Ministry Read More Investors vie for shares of stock exchanges Pick-up in sentiment, volumes boost bourses' unlisted shares HDFC Life Click2Protect+ Get Lump Sum + Monthly Income Benefit* @ Affordable Rate. Buy Now hdfclife.com/Click2ProtectPlus Retirement Calculator Plan Your Retirement Online in 2Min Calculate & Compare Premium Here! policybazaar.com/Retirement Ads by Google Advertisements Get a freedom to choose your own plan. Click here to know more... Data transforming the match-making business. click here Open a free Trading & Demat A/c with Sharekhan Leadership and Corporate Accountability-India. Click here Great fares to Europe from INR 54,000* Amsterdam. Click here Start Investing with the best Broker in india Important Facts about Infant Hearing Screening Gifting Solutions. Make easy & perfect! Find out what converged solutions can do for you. Smart Cloud Virtualized Server Recovery. Learn more. The perfect drive the perfect style. Book a test drive 3 Add to My Page Back to Top Quick Links Go LATEST NEWSAll NewsIn this section Ebola threatening Liberia's existence, minister warns IS threatens to assassinate Twitter employees Motherson Sumi, Eicher Motors, TVS Motor gain inclusion in F&O segment ABG, Bharati Shipyard rallies on hopes of government sops Pre-market: Five stocks to watch out for in trade today US manufacturing industry pushes India for free trade Dollar gains on Fed outlook, hurts shares Wall St ends lower as Apple shares fall post launch Ukraine ceasefire 'mostly holding': US Flipkart launches third private label Citron News you can use Rss icon Errors to avoid when filing returns What is Gratuity? What are NEFT and RTGS? Check your Income Tax Credit credit status form-26AS online Saving capital gain tax on sale of property Calculate tax on your house property income How to Check your EPF Balance & status online Featured Videos iPhone killers? The biggest threats to Apple's dominance video Jaguar takes the battle to BMW video The 5 biggest IPOs in U.S. history video Here is the next-gen spy plane... a blimp video MOST POPULARReadSharedCommented Supreme Court reserves order on coal block allocations Apple launches Watch, two iPhones & Apple Pay Guj rains: Hundreds evacuated in Vadodara, Army on stand-by Neel Mukherjee's book in Man Booker shortlist Mumbai airport keeps airlines guessing on Airbus A380 parking bay Market News A fourth of mutual fund equity assets concentrated in 10 stocks ICICI Bank, HDFC Bank, Infosys, SBI and L&T among fund managers' preferred bets Den Networks: Investing in new growth avenues Its tie-up with Snapdeal to launch a shopping TV channel looks like a win-win deal Sensex, Nifty retreat from record highs on profit taking The BSE Sensex and Nifty fell on Tuesday from their record highs in the previous session as investors chose to book profits in recent ... High agri imports under govt lens Dept of commerce seeks ideas to curb import dependence for supply of commodities, writes to sector bodies MCX hopes FTIL stake sale will conclude by month-end The exchange's clarification came in the wake of FMC rejecting its demand to allow approvals for contracts for the March quarter of 2015.
While most of Sebi's new norms are aligned to changes in Companies Act, they are more stringent in certain areas.
The commencement of negotiations is close on the heels of the recent decision taken by the Congress and Nationalist Congress Party high commands, to continue alliance during the state assembly election.
Move aimed at boosting retail investor participation in disinvestment.
Providers write to Sebi, FinMin; launches may hit pause.
The rise in commuters was also despite the state-run Mumbai Metropolitan Region Development Authority filing a petition against MMOPL on fare fixation.
Minimum investment size under portfolio management services may be raised, so that small players can avoid risk.
Modi praised the contribution of nuclear scientists in the successful implementation of India's three-stage nuclear programme.
Santosh Kamath, partner (infrastructure and government services), KPMG in India, expects an extension of a tax holiday for the sector.
Cabinet sub-committee to review the situation and take necessary steps.
Congress leader Sushilkumar Shinde left for New Delhi on Monday, where he is expected to meet Congress President Sonia Gandhi and submit his views on the change of leadership in Maharashtra and also suggest measures to revive the party ahead of the assembly elections slated for September-October.
The ruling Nationalist Congress Party in Maharashtra clarified on Sunday that it had received no proposal from the Congress for a merger nor did it have any such plan in the run-up to the election to the 288-member state assembly slated for September-October.
Nationalist Congress Party president Sharad Pawar on Sunday declared that he was not going to be the party's chief ministerial candidate for the forthcoming Maharashtra assembly election slated for September-October.
Pankaja Munde -- who lit the funeral pyre of her father Gopinath Munde on Wednesday at his ancestral village of Parli in Maharasthra along with Prime Minister Narendra Modi and party general secretary Amit Shah -- will lead the the Bharatiya Janata Party's campaign for the assembly elections scheduled for later this year.
The party has to zero in on its chief ministerial candidate from one of three leaders -- Union Minister for Surface Transport Nitin Gadkari, state BJP president Devendra Fadnavis and Leader of Opposition in the state council Vinod Tawde. But the biggest handicap with them is that they can't match Munde in terms of popularity.
Party insiders say the high command could consider replacing state chief Manikrao Thakre, reports Sanjay Jog.
Congress candidate Ashok Chavan, BJP's Gopinath Munde, NCP's Padmasinh Patil and All India Youth Congress chief Rajeev Satav cash in on their charisma and image. Sanjay Jog
Banks on mobilising support from Dalit and Muslim voters. Sanjay Jog reports.
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