The Uttar Pradesh Stock Exchange may get permission from the Securities and Exchange Board of India for taking membership of the National Stock Exchange, NSE, as Bhave, the new Sebi chief, seems to be cooperative on the moves that had earlier been opposed by his predecessor. M Damodaran had, almost eight months back, rejected the application of the Madras Stock Exchange for a tie-up with the NSE. But after Bhave took over, this permission has been granted.
JK Cotton of Kanpur has roped in two strategic investors in the company -- Yes Bank and Ayodhya Finlease Ltd. This is likely to pave the way for resuming production after about 19 years.
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