After the National Stock Exchange, the focus has now shifted to stake sale soon in two depositories, the National Securities Depository and the Central Depository Services.
In the mid-1990s, when the shares of listed companies first began to be held in electronic form, they accounted for less than 1 per cent of the stocks bought and sold on the stock exchanges. This climbed to 99.5 per cent by 2001.
Alternative investment funds (AIFs) are yet to fully demat the outstanding units even as the deadline ended on October 31. Industry players say they are working on the transition from physical to electronic with the depositories Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NDSL). Some said they are hoping for some relaxation from the market regulator Securities and Exchange Board of India (Sebi), given the teething problems they are facing.
In continuation of the interim order dated April 27, 2006 relating to IPO scam, G Anantharaman, whole-time member of Securities & Exchange Board of India passed an interim order on Tuesday.
Sebi, in its first-of-its-kind disgorgement order passed at the end of November last year, had asked the two depositories and 10 entities to pay Rs 115.81 crore (Rs 1.15 billion).
Sebi has directed the depositories to ask all the depository participants to examine the origin of accounts that did not comply with the requirement for Permanent Account Number.
In fact, almost every fourth demat account with NSDL and CDSL is now frozen. Investors were required to provide PAN card details for opening demat accounts from April 2006.
About 48 lakh demat accounts have been frozen by the two depositories, National Securities Depository Ltd and Central Depository Services Ltd, because investors failed to submit Income Tax Department's PANs.
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
Equity markets fell on Monday, with benchmark indices recording their worst session in over two months amid caution ahead of the US Federal Reserve's (Fed's) policy announcement and renewed uncertainty over the US-India trade deal. Sustained selling by foreign portfolio investors (FPIs) also weighed on sentiment.
The government favours 100 per cent foreign direct investment in the pension sector, which will have a "limited" number of fund managers, a top finance ministry official said on Monday.
A higher TER means a larger portion of the return goes to the AMC, leaving less for the investor, unless compensated by higher returns.
Many are attracted by the potential for large gains, but don't necessarily seem to understand that a single trade gone wrong can wipe out their accumulated profits.
Market experts said on an average around 80,000 accounts were opened every month during 2008-09 as against 0.3 million accounts monthly in 2007-2008. "Investors are closing their accounts as brokerage houses have started levying annual maintenance charges. Even the depositories have increased their transaction fees. We currently open about 25,000 accounts on an average per month as compared to over 40,000 accounts during 2007-08," said an official at a large securities house.
The total number of demat accounts in the country stood at 171.1 million as of August 31.
The number of dematerialised (demat) accounts required to hold shares and other securities in electronic format rose by 3.1 million in April, bringing the total tally to a fresh record of 154.5 million. Since December last year, the new additions have consistently remained above the 3 trillion mark, a sign that the stock markets continue to attract new investors despite a spike in volatility.
With growing capital markets and business friendly climate, nearly 1.4 lakh investor accounts were opened on an average every month in the last one year.
The investor education and protection fund authority (IEPFA) has reached out to top hundred companies to reduce the documentation required for individuals trying to claim their shares, according to a senior government official. Recently, the Supreme Court-appointed expert panel on the Adani-Hindenburg case had raised issues such as capacity constraints faced by IEPFA in clearing these claims which are over Rs 5,000 crore. "Our immediate priority is to ensure that claims of those investors whose application was approved a year ago but the transfer has not gone through yet are settled first.
KYC done while opening a bank account can be used to open a mutual fund account.
Cochin Shipyard, BASF India, Ingersoll Rand, Eicher Motors, Federal Bank, and Timken India are some of the firms where voting could have got affected, sources said.
The National Company Law Tribunal (NCLT) has directed to freeze and attach assets and properties of Videocon promoters following a petition by the ministry of corporate affairs. The NCLT Mumbai bench has directed the Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL) that securities owned or held by the Videocon promoters "in any company or society be frozen, and be prohibited from being transferred or alienation" and the details be shared with the Ministry of Corporate Affairs (MCA). It directed the Central Board of Direct Taxes (CBDT) to disclose information about all assets of the Videocon promoters in their knowledge or possession, for the purpose of freezing and restraining such assets.
The stock exchange on which they are traded boasts higher profits than most of the companies whose shares are hitting new highs. Only 37 of approximately 2,000 listed companies with comparable data for 2022-23 (FY23) reported higher profits, while the rest had lower profits. Despite rising corporate profitability, the universe of companies that outperform the National Stock Exchange (NSE) in terms of profitability has been shrinking of late, according to an analysis of companies with comparable data over the past seven years.
The market regulator's newly proposed selection criteria for the over Rs 400-trillion-a-day futures and options (F&O) market could pave the way for the entry of popular stocks such as Life Insurance Corporation (LIC) of India, Jio Financial Services, Zomato, Paytm, DMart, and Adani Energy into the derivatives segment. The Indian derivatives market, which accounts for most of the trading volumes, could see big churn with over two dozen exits from the current list of 182 stocks due to an upward revision in the eligibility thresholds.
The latest circular from BSE that sought to cap the price movement of select scrips, especially the mid-, small-cap segments, traded on the exchange is not without a reason. A quick calendar year-to-date price check on the stocks from the categories put under 'Add-on Price Band Framework' by the BSE reveals a total of 210 stocks have seen their market price more than double. Among individual stocks, SC Agrotech, Adinath Textiles, Waaree Renewable Technologies, Steel Strips Infrastructure, Unistar Multimedia, Texel Industries, Raja Bahadur International and Hindustan Everest Tools from the BSE's X and XT group have rallied over 500 per cent during this period. Topping the charts is Gita Renewable Energy, which has zoomed 3,964 per cent to Rs 272.35 now from Rs 6.7 as on December 31, 2020.
When shares in the electronic form are available with the depositories, it acts as primary evidence for those who hold the shares.
Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.
The equity cult has grown at a rapid pace in India in the last few years, with retail investors latching on to the stock markets like never before. At 126.6 million, the number of dematerialised (demat) accounts, where investors hold their securities in electronic form for trading purposes, are at record high levels. The growth rate, on an annualised basis, stood at 27 per cent in 2022-2023, up from barely 6 per cent a decade ago.
Investors must withdraw funds, open a new trading account and transfer assets.
Whether you give stocks held for more/less than a year, benefits are nominal; donating cash is better.
The regulator's concern arises from several recent instances.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
Traditionally, financial institutions have operated risk functions in silos. However, the nature of unknown threats today requires industry participants to work together, says Vikram Limaye.
In August, RBI allowed 11 business houses to start a payments bank.
Apart from the much-reported constitutional and political hurdles on a national Goods and Services Tax (GST), there is another basic one. Barely half of dealers in the country have a Permanent Account Number (PAN) from the tax department.
The exchange moved through many ups and downs through the years.
It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
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