The order says he was the 'highest beneficiary' of NSEL fraud and has proven unfit to handle affairs of any exchange.
Kotak Mahindra Bank has decided to buy a 15 per cent stake in Multi Commodity Exchange (MCX) for Rs 459 crore from Financial Technologies India (FTIL).
Market regulator, the Securities and Exchange Board of India, on Monday said one person named Jignesh Shah was found involved in price manipulation in stock markets and has imposed a fine of Rs 2.5 lakh (Rs 250,000) on him.
The National Bulk Handling Corporation Ltd (NBHC) on Monday signed a memorandum of understanding with Bank of India to work together in the area of warehouse-based receipt financing.
The exchange granted 1.96 million stock options under two employee stock option (Esop) schemes in 2006 and 2008 to those eligible, according to regulatory filings.
This is the concluding part of a three-part series, where Aditi Roy Ghatak and Paranjoy Guha Thakurta discus how share prices in India are manipulated and the future of the country's stock exchanges.
Economists V Shunmugam and D G Prasad working with India's largest commodity bourse -- the Multi Commodity Exchange -- have come out with a research paper arguing that the government urgently needs to shift the method of calculating inflation.
The Multi Commodity Exchange has filed its draft red herring prospectus with the Securities and Exchange Board of India for the company's public offer. It will list only on the Bombay Stock Exchange (BSE).
Financial Technologies India Ltd (FTIL) promoter Jignesh Shah, whose 'fit-and-proper' status to run an exchange has been under regulatory scrutiny following the Rs 5,600-crore payment fraud at NSEL, on Tuesday decided to continue as a director of group firm Multi Commodity Exchange (MCX).
On August 7, the Reserve Bank of India and the Securities and Exchange Board of India cleared the guidelines for currency futures trading. Exactly six days later, the National Stock Exchange got the market regulator's approval to start such trading and is scheduled to kick off currency futures this Friday.
Ginger is the hot and happening commodity now. In fact, the National Multi-Commodity Exchange is mulling expansion of its futures basket and launch of trade in dried ginger and cashew.
Anticipating a major shortage of professionals in Futures trading in the coming years, the Multi Commodity Exchange has decided to train 10,000 personnel in the sector this financial year.
The National Spot Exchange Ltd (NSEL), an arm of Multi Commodity Exchange (MCX), is planning to launch gold and silver (bullion) contracts in spot market in Kolkata by end of this month.
The most-active gold contract for December delivery was 0.99 per cent lower at 30,109 rupees ($470) per 10 gram at 0934 GMT on the Multi Commodity Exchange.
The Bombay Stock Exchange has called off its plan to acquire 26 per cent in the Ahmedabad-based National Multi Commodity Exchange. The deal was terminated just before the resignation of BSE Managing Director and CEO Rajnikant Patel.
Last week, after months of scrutiny, the Forward Markets Commission, the regulator for futures trading in commodities, approved a proposal from state-owned MMTC Ltd and finance-to-real estate group Indiabulls to set up a national multi-commodity exchange.
The Multi Commodity Exchange of India Ltd has finalised the futures contract details of six commodities - gold, silver, castor seed, cotton, rubber and pepper. All the contracts will be physical delivery based.
The rolling out of the raw jute futures contracts comes close on the heel of the successful launch of Kufri Jyoti potato futures contract from MCX.
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
Though retail demand was weak, jewellers were restocking for Pongal festival.
Shah's emotional statement indicates he has bid farewell to MCX; but is he stooping to hit back?
The National Multi Commodity Exchange is planning to launch turmeric futures of Erode variety soon.
Jeweller and importers were awaiting the correction to stock the yellow metal for upcoming marriage season.
The deal values DGCX, which started operations one and a half years ago, at a whopping $1.25 billion.
The Multi Commodity Exchange on Wednesday launched India's first ever crude oil futures contract.
The wedding season will continue till early January and gold is an important gift item at marriages.
The sessions court on Thursday extended the police custody of the Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah and former managing director and chief executive of the commodity exchange Shreekant Javalgekar till May 19.
FMC approves commodity bourse's contract-launch calendar for two years.
Firm overseas trend, spot demand support uptrend.
The MCX chief was in the US to clinch a deal with the NYSE that has bought 5 per cent stake in MCX.
The reason, say market players, is heavy losses suffered by traders in south India and Ahmedabad dabbling in the white metal.
Ambitious plans by NGOs and companies to take technology to farmers are not always successfully executed.
After a long lull, India's equity primary market is set to witness some activity. The Multi Commodity Exchange of India (MCX) is set to hit the market with its initial public offer (IPO) in February. The investment banking circles are already buzzing with talks about valuation. Experts say, if priced well the issue could pump life into the moribund IPO market.
Gold had hit an all-time high of Rs 11,492 on the Multi Commodity Exchange, the largest commodity bourse. The gold contract has gone up more than 7 per cent so far in 2008. Traders said the demand for gold is dull, as many people are expecting that the prices will come down.
Gold futures climbed to a fresh high of Rs 28,800 per 10 grams on Tuesday, tracking a firming trend overseas, where the rate topped $1,910 an ounce as global financial turmoil raised demand for the metal as a safe haven.
Airlines have been conducting fuel efficiency analysis, which involves fuel calculations on a daily basis, based on the availability of optimum routes in terms of wind, flight levels and overflying charges, route rationalisation to prune the number of flights and increase utilisation. They also want the Centre to grant ATF a declared goods status, which would result in a uniform levy of 4 per cent sales tax at the state level.
