The Securities and Exchange Board of India (Sebi) is mulling changes to the 'fit & proper' criteria for market infrastructure institutions (MIIs), such as stock exchanges, in a bid to segregate the role of an individual from the entity, said sources. Under the current framework, wrongdoing by senior personnel could lead to a debarment of the MIIs such as stock exchanges, depository participants and clearing members-with quite a few such instances in the past. Additionally, Sebi is also mulling to introduce a clause through which any order passed against an MII will not affect their operations, unless it is specifically mentioned so in the order.
sustained inflow of foreign funds kept the market in a cheerful mood.
Foreign institutional investors have been net investors to the tune of Rs 55,000 crore (Rs 550 billion) in equity markets this year so far. In contrast, domestic institutional investors have been net sellers over the past three months.
'We have a lot of hope from mobile, algorithmic trading and the small and medium enterprise segment. The journey has just begun.'
The much-awaited trading in corporate bonds will start on the National and the Bombay Stock Exchanges from July 1. This is expected to energise the moribund debt market.
The group has interests in auto, textiles, engineering, chemical and power sectors, among others. "We think this is a good time to enter the IT sector. Melstar also has a US subsidiary, which gives us entry into this market as well," said PVR Murthy, CFO of YBG. The group is looking at further growth through acquisition, with the current focus on West Asian and South East Asian firms.
The group has interests in auto, textiles, engineering, chemical and power sectors, among others. "We think this is a good time to enter the IT sector. Melstar also has a US subsidiary, which gives us entry into this market as well," said PVR Murthy, CFO of YBG. The group is looking at further growth through acquisition, with the current focus on West Asian and South East Asian firms.
Taking immediate corrective action and lessons from the US experience would help in restoring investor confidence.
Market experts predict that the equity markets are likely to remain volatile for the rest of the year.
The story began with the BSE board selling 5 per cent of its equity each to Frankfurt-based Deutsche Boerse AG (the world's biggest stock exchange in terms of market capitalisation) and the Singapore Exchange at Rs 5,200 per share.
The bonds are expected to be listed on the Singapore Stock Exchange and closing is likely to take place on January 21, 2008, subject to requisite approvals, Gremach said in a filing to the Bombay Stock Exchange. The company intends to use the net proceeds of the issue for foraying into oil rig business as may be permitted by Indian law and RBI regulation.
Soros has bid for the BSE stake, held by the embattled Dubai Financial Group LLC, through Soros Fund Management LLC, and Kaiser has done so through private equity fund, Argonaut.
Domestic markets conduct a special one-hour Muhurat trading session on Diwali every year to mark the beginning of the traditional Hindu calendar year, called 'Vikram Samvat'.
ASE Capital Markets, a subsidiary of The Ahmedabad Stock Exchange, the second oldest bourse in India, is selling a part of its holding in the Bombay Stock Exchange -- the second time in less than 12 months.
The Bombay Stock Exchange and the National Stock Exchange have extended trading timings for a fortnight, starting September 25 to October 09, on account fo sun outage during this period.
On the last day of Satyam's stint in India's benchmark indices - the Bombay Stock Exchange Sensex and the National Stock Exchange S&P CNX Nifty - its shares turned out to be a punter's delight.
Block deal transactions by foreign institutional investors registered a significant fall in October and November. The decline was mainly because of major deal makers cashing out of the equity market to make good their mark-to-market losses and meet redemption pressure.
BP Plc has won a bid to operate ONGC's giant Mumbai High oil and gas field by offering up to 60 per cent increase in output over baseline, the state-owned firm said on Wednesday. State-owned Oil and Natural Gas Corporation (ONGC) had in June last year floated a tender seeking foreign partners to reverse declining output at its flagship Mumbai High fields, offering a share of revenue from incremental production plus a fixed fee but not any equity stake.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
Indications are that the Tata Sons stand on listing of the company may come up for a discussion even if it's not part of the agenda
The Securities and Exchange Board of India on Friday put equity float by large-cap companies on the fast track.
The Sensex traded lower by 536.19 points at 15,240.12 at noon with most heavy-weight stocks plunging to recent lows. Similarly, the second wide-based National Stock Exchange index Nifty dropped by 173.10 points at 4446.70.
The Bombay Stock Exchange is set to pick up 26 per cent stake in India's first demutualised online multi commodity exchange the National Multi-Commodity Exchange.
Officials said the searches covered multiple premises of the firm in Mumbai and Delhi.
The Muhurat trading on the Bombay Stock Exchange will be held on Friday, November 9. According to a release issued by the BSE, the exchange will be open for trading between 6 pm and 7 pm on Friday
Piramyd Retail shares opened at the Bombay Stock Exchange on Monday at Rs 146 against an issue price of Rs 120.
Last Friday's tumble on Wall Street, with the Dow Jones index falling nearly 400 points, is sure to have its repercussions on the already shaky Indian market. With both the benchmark indices, the Bombay Stock Exchange Sensex and the National Stock Exchange Nifty having lost 5 per cent apiece last week, investors are already skittish.
The National Stock Exchange index Nifty gained 3.75 points at 4,572.30. It touched the day's high of 4,596.75 and a low of 4,528.50 points. Among the 30 Sensex stocks, 14 closed with losses while 16 gained. Overseas funds bought stocks of a net $146.6 million on July 23, taking total investments in equities this year to $6.57 billion.
Infrastructure Development Finance Company Ltd managing director and chief executive officer Rajiv B Lall has sold 4.50 lakh (450,000) shares of the company for over Rs 6.3 crore (Rs 63 million) in an open market transaction.
The market cap of the listed firms on the Bombay Stock Exchange and the National Stock Exchange on Monday declined by a whopping Rs 125,000 crore (Rs 1,250 billion) to Rs 43,75,020 crore (Rs 43,750 billion), thereby falling below the GDP of Rs 46,93,000 crore (Rs 46,930 billion) at current market price, as per the real economy data released by the Reserve Bank of India on April 28 this year.
The market cap of the listed firms on the Bombay Stock Exchange and the National Stock Exchange on Monday declined by a whopping Rs 125,000 crore (Rs 1250 billion) to Rs 43,75,020 crore (Rs 43750.20 billion), thereby falling below the GDP of Rs 46,93,000 crore (Rs 46930 billion) at current market price, as per the real economy data released by the Reserve Bank of India on April 28 this year.
Looking to set up food courts and specialty restaurants across the country, leading retailer Pantaloon Retail India Ltd has decided to form a joint venture company with Blue Foods Pvt Ltd.
With a m-cap of Rs 1,28,100 crore, Tata Motors now features at ninth rank in the list and replaces HDFC in this prestigious club.
The exchange will unveil a ticker showing live quotes and news flashing on a huge video screen.
The Bombay Stock Exchange on Friday opened an exclusive Investor Service Centre in Chennai, offering a complete range of services including redressal of investor complaints along with acting as a single window for all queries on stock markets.
The country's largest real estate player, DLF, on Friday said it has approached the government for surrendering four of its IT-ITeS notified special economic zones (SEZ).
In a bid to provide the retail investors quick access to corporate information, Bombay Stock Exchange and the National Stock Exchange
Sensex is a basket of 30 constituent stocks representing a sample of large, liquid and representative companies. The base year of Sensex is 1978-79 and the base value is 100.
AT&T Inc, the largest telecom services provider in the US, has acquired an 8.07 per cent stake in Pune-headquartered Tech Mahindra for $34.5 million (around Rs 160 crore) by exercising a 2005 option agreement to buy a stake in the company. Its stake at Tuesday's prices on the Bombay Stock Exchange (BSE), however, is worth around Rs 900 crore.
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