Airtel CEO said, the 5G ecosystem is yet to develop in India and the prices are very high. Telecom companies including Vodafone Idea (VI) and Reliance Jio have also said that the current prices are exorbitant.
In a significant relaxations on Wednesday, the Securities and Exchange Board of India changed pricing rules for qualified institutional placements in view of rising market volatility, and reduced the timeline of rights issues. But the market regulator did not change, as widely expected, the guidelines for participatory notes, derivative instruments, through which many foreign investors trade on the Indian bourses.
Chary also says some government officials have played an important role in favouring organisations that MCX competes with.
The National Stock Exchange and the Bombay Stock Exchange have decided to change their trading timings from Monday till October 7, as VSAT services might get disrupted during this period due to heavy solar activity.
This route accounts for Rs 2.75 lakh crore of FPI holdings.
The Securities Appellate Tribunal has ruled that the Securities and Exchange Board of India was wrong in insisting that foreign institutional investors should furnish an undertaking that they have not issued P-Notes to certain select types of persons. A quick look at the law regulating FIIs would be useful. FIIs are persons resident outside India who, once registered with Sebi, enjoy a right to freely buy and sell securities on Indian stock exchanges.
India's premium benchmark equity index, the S&P CNX Nifty, also the fastest growing index on SGX, will be traded for 16 hours on that exchange, compared to the six-and-a-half hours that it traded on the National Stock Exchange in India. The SGX will be traded from 6.30 am to 10.30 pm IST.
P-Notes are mostly used by overseas HNIs.
In a move that would benefit retail investors, the National Stock Exchange on Monday said the transaction charges would be lower by about 10 per cent in cash and derivatives segments but would levy system abuse charges in the Futures & Options category from October 1.
Earlier this month, the CBI registered a Preliminary Enquiry against former Sebi Chairman C B Bhave and ex-member K M Abraham, as also against Jignesh Shah-founded FTIL and MCX, among others.
The Bombay Stock Exchange and the National Stock Exchange will remain open for trading on Saturday.\n\n\n\n
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
According to estimates by Citigroup India, P-note investments, excluding the underlying shares, account for 34 per cent of FII assets with custodians in BSE-500 companies. Sebi stipulates that P-Notes can account for up to 40 per cent of FII assets under custody. This leaves room for FIIs to increase their exposure through P-notes 6 percentage points.
C B Bhave, chairman of the Securities and Exchange Board of India, said on Monday that the 40 per cent limit on investment through offshore derivative instruments, or Participatory Notes, will be removed.
The company's accounts were audited by CAG as its shareholders include public sector banks.
The market wide circuit breakers would be triggered by movement of either Sensex or the NSE S&P CNX Nifty whichever is breached earlier.
By passing on the information to income tax department, the regulator wants to send a clear signal that manipulation could prove to be costly.
The index options also touched a record high of Rs 4.9 lakh crore.
The derivative contracts in the underlying Essar Oil, IFCI, Rajesh Exports, Adlabs Film, Arvind Mills, Nagarjuna Fertilisers and Bongaigoan Refinery are currently in the ban period, a NSE circular said on Wednesday.
On October 16, Sebi proposed to ban derivatives-based participatory notes in 18 months and put curbs on such instruments based on Foreign Institutional Investors' assets under management. Its board would meet on October 25 to take a decision on its proposals, which is expected to be made into regulations.
The move is aimed at arresting the surge in foreign inflows through PNs, which are offshore derivative instruments that allow foreign investors to invest indirectly in a country's stock market (see table), which has seen the benchmark BSE Sensex zoom more than 5,000 points in two months.
'With just 2.4 per cent of global landmass, India houses six to eight per cent of planetary biodiversity and hence is a prime target of wildlife criminals.'
The Securities and Exchange Board of India on Saturday said it would introduce regulations to rein in unscrupulous investment advisors and set up a committee to look into various aspects for developing the derivatives market.
The rupee touched a high and low of 65.91 agaisnt the greenback during the day.
Other forms of securities such as compulsorily convertible debentures (CCDs), optionally convertible debentures (OCDs) and some derivatives could remain out of the scope of the amendments
Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. Fines of Rs 25 crore and Rs 15 crore have been imposed on Reliance Industries Ltd (RIL) and Ambani, respectively. Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore. The case pertains to sale and purchase of RPL shares in the cash and the futures segments in November 2007.
Sebi has come up with long duration options, which will enable investors to hold their position in the market for three years.
As many as 205 stocks touched their one-year low on the Bombay Stock Exchange.
MCX Stock Exchange, set up by crisis-hit NSEL's promoters, on Friday appointed Saurabh Sarkar as CEO and announced plans for fresh capital infusion by its existing shareholders among measures to boost business.
'The business continuity clause will mean the Tatas will have to keep running the airline for three years, and cannot exit the flying business.'
P-Notes, mostly used by overseas High Networth Individuals, hedge funds and other foreign institutions, allow such investors to invest in Indian markets through registered foreign institutional investors.
The rupee rose by 4 paise at 66.88 against the US dollar in early trade on Wednesday.
The Securities and Exchange Board of India will shortly revise norms for public offers and unveil a slew of products for secondary and derivative markets.
India's capital market regulator on outlined a series of steps, including allowing short selling of equities by institutional investors, bringing mutual fund intermediaries under its purview.
