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.
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.
Diamond prices vary purely on demand and supply. You can make extraordinary returns within six months or it can even take years.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
It will be the first to go, in what has become an overcrowded segment since India first allowed futures trading in commodities in 2003.
Rajesh Bhayani examines what SEBI's approval of diamond futures trading means for the diamond market players.
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.
With satisfactory progress of monsoon rainfalls prompting farmers to bring in additional area under basmati sowing, prices are set to fall lower going forward.
Blackstone, KKR, and Bain Capital, among others, are in the race for its general insurance arm, and Bandhan Bank, Bain, and Dabur Investments have shown interest for RCap's 51 per cent stake in the life insurance business.
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
Brokers have only kept guarantees for which they have open positions.
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
Commodity exchanges are all restructuring their boards of directors, after the recently issued guidelines of the Forward Markets Commission.
Trading in agri commodities on Saturdays to be reviewed later; more changes likely in the coming months to align with global pattern.
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