It is mystifying how the NSE, a near-monopoly, gets protection, as the February 24 episode shows, when it is competition and accountability that should be the regulatory objective, says Debashis Basu.
Jignesh Shah-promoted MCX Stock Exchange (MCX SX) will partner London-based index calculator FTSE to create new index opportunities for the Indian financial markets.
USEIL, promoted by 11 banks, MMTC, and a large brokerage firm Jaypee Capital has received in princial approval from Sebi for commencing contracts in currency derivatives.
The five-month-old exchange traded currency futures market is set to witness competition, rising volumes and innovations with the United Stock Exchange of India gearing up to launch the product in April.
The National Stock Exchange is all set to start the cross-margin facility across the cash and derivatives segments across all categories of market participants from Monday.
Rules governing short-selling in various jurisdictions continue to generate controversy among regulators, lawmakers and market participants. While the US capital market regulator Securities and Exchange Commission has banned short-selling of financial shares after it was blamed for the collapse of Lehman Brothers, in India, the practice had come under the scanner as foreign institutional investors were lending stocks overseas to facilitate short-selling.
The biggest spend (Rs 4,406 crore) was for Schedule VII (II), which involves "promoting education, including special education and employment enhancing vocation skills, especially among children, women, elderly and the differently abled and livelihood enhancement projects". The FY19 spend was 17.2 per cent higher than Rs 1,0128.3 crore spent during the previous year.
Stock market regulator Securities & Exchange Board of India (Sebi) has widened the scope of index-based options by allowing exchanges to offer option contracts based on Sensex and Nifty with a tenure of up to five years.
From today, you will be able to buy and redeem open-ended mutual fund schemes on the National Stock Exchange through your stockbroker. The Bombay Stock Exchange too will follow suit soon.
Days before B Ramalinga Raju admitted to fraud, a handful of financial services companies, including DSP Merrill Lynch, IL&FS Financial Services and Deutsche Bank's non-banking finance company, sold Satyam Computer Services shares pledged with them.
The Ramalinga Raju family promoted Maytas Infrastructure on Thursday said its chairman and non-executive director R C Sinha has tendered his resignation.
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are set to have some serious competition. Reliance Money, controlled by the Anil Dhirubhai Ambani Group, and Financial Technologies India Ltd (FTIL), which operates one of the world's largest exchange networks, are exploring the option of setting up their own equity exchanges.
The Bombay Stock Exchange, the National Stock Exchange, the interbank foreign exchange market and overnight call money/government securities market will remain closed on Wednesday.
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.
Aditya Puri has a higher yearly pay of 9.7 crore, plus stock options, at HDFC Bank.
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.
Like its predecessors REC and NTPC, mining major NMDC, the third government-owned company to hit the markets this year, received tepid response on the first day of follow-on offer (FPO).
The Bombay Stock Exchange and National Stock Exchange will remain closed on Thursday in the wake of the terror attack in Mumbai.
Taking immediate corrective action and lessons from the US experience would help in restoring investor confidence.
The issue received bids for over 25 crore (250 million) shares against 41.22 crore (412.2 million) equities on offer, according to the data available with the National Stock Exchange.
Asia's oldest bourse, Bombay Stock Exchange on Wednesday launched currency derivatives segment (BSE-CDX) that would enable participants to hedge their currency risks through trading in the US dollar-rupee future platform.
Here is our take on the market trends to watch out for in 2010.
The initial public offer of NHPC Ltd, the state-run hydropower producer, was subscribed 3.54 times what was on offer on Friday, the opening day.
Both the Bombay Stock Exchange and the National Stock Exchange will have special trading sessions on Saturday, June 4, as NSE would test its back-up facilities at Chennai.
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.
Within a day of announcing advancement of opening to 0900 hours from December 18, NSE along with India's oldest stock exchange BSE deferred implementation of the proposal to January 4 to give more time to the brokerages to align their operations.
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.
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have decided to postpone new trading timings to January 4, 2010. The trading on both the bourses will be conducted from 9 a.m. to 3.30 p.m. Both the bourses expect this move to ramp-up their volumes.
The Bombay Stock Exchange and the National Stock Exchange have extended the trading timings in equity and equity derivative segments by nearly an hour to 9 a.m., effective from Friday.
Select markets like the Bombay Stock Exchange, National Stock Exchange, Foreign Exchange and the Money Market will remain closed on Friday.
The country's largest stock exchange in terms of volume has 'received an in-principle nod from Sebi for starting an exchange to trade foreign currency derivatives,' sources close to the development said. NSE officials, however, were not available for comment.
The National Stock Exchange (NSE) on Monday conducted the first round of mock electronic bidding process for implementing application supported by blocked amount (ASBA), an alternative mode of payment for initial public offerings (IPOs), proposed by capital markets regulator, Securities and Exchange Board of India (Sebi).
Promoter holding in Unitech, the nation's second-largest property developer, has dropped by 7 per cent since their September disclosure after lenders sold the shares pledged with them, according to analysts.
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.
New York scores top marks for its economy as well as research and development, while London is judged to be the world's cultural capital. Paris is number one for livability and accessibility. Geneva, Zurich and Vienna are praised for their ecology and natural environment.
Anil Ambani's radio business, Reliance Media World, which operates radio station BIG FM 92.7, will list on the Bombay Stock Exchange and the National Stock Exchange on Thursday. This makes BIG FM 92.7 the second radio station to be listed on the stock exchanges.
Recently, market regulator Sebi had permitted Indian bourses to extend their trading hours to 9.30 am to 5 pm from the present 9.55 am to 3.30 pm.
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.
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