India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
The Securities and Exchange Board of India (Sebi) on Tuesday announced that the top 500 stocks will be eligible for the same-day settlement cycle (T+0) in a phased manner. This move is seen as a fresh push to ready the market ecosystem to speed up the settlement cycle, which currently stands at T+1.
Reliance Capital Ltd (RCL), part of the debt-ridden Anil Ambani-promoted Reliance Group, has received 10 more bids, including from SBI Life, for its subsidiaries, sources said. Earlier this month, the Committee of Debenture Holders had extended the last date for submission of expression of interest (EoI) to December 17, 2020. Following this, 10 new bids have come in for Reliance Capital's assets, taking the total number of bids to 70, the sources said.
Commodity markets regulator FMC on Wednesday said it has given approval to the Anil Ambani Group to acquire 26 per cent stake in Indian Commodity Exchange from one of its promoters, Indiabulls group.
Four persons privy to the discussions told Business Standard that the deal is close to finalisation, and that regulator Forward Markets Commission (FMC) had been kept in the loop. Indiabulls holds 40 per cent stake in the exchange, which started operations less than a year ago.
Corporate houses are adding sheen to the domestic commodity exchanges now.
Goldman Sachs and other foreign investors may have to cut stakes in Indian comexes, following the FDI policy.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
Federation of Indian Commodity Exchange is roping in the regional exchanges to be part of its tie up initiative with Bombay Stock Exchange for technology partnership, likely to be finalised between January-March 2006, a top official of FICE said on S
With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
Since most banks have tightened lending to diamond merchants and others are about to do so, many medium and small diamond dealers are approaching large players for credit facility within the industry
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
Diamond prices vary purely on demand and supply. You can make extraordinary returns within six months or it can even take years.
A dedicated physical gold exchange could lead to standard gold pricing in India.
'We need to see how quickly the industry comes out of the impact of the note ban.'
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
The RBI is considering permitting FII and commercial banks to trade on Indian commodity exchanges.
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