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  • Chitra Ramakrishna to become MD & CEO of NSE on 1st April 2013
    Posted Date : 26-Nov-2012 , 11:10:24 pm | Posted By CASANSAAR

    Chitra Ramakrishna will be the Managing Director and CEO of National Stock Exchange from 1st April 2013, while its current chief Ravi Narain will assume the role of Vice-Chairman in a non-executive role. At a meeting held in Mumbai on Monday, the board of the National Stock Exchange decided that Ram...

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  • DLF to issue fresh equity shares to reduce promoters' stake
    Posted Date : 15-Nov-2012 , 09:07:29 am | Posted By CASANSAAR

    Realty major DLF today said it will issue fresh equity shares in the next fiscal to dilute promoters' stake to 75 per cent as per market regulator SEBI's guidelines and will use the funds to cut debt. "In the medium term, (this will) further pare down the net debt ...

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  • 'Stock Guru' scamster couple held for Rs. 500cr fraud
    Posted Date : 13-Nov-2012 , 08:43:23 am | Posted By CASANSAAR

    A 33-year-old school dropout and his wife - masters of disguise and the alleged perpetrators of one of the biggest economic frauds in the country - were arrested for cheating lakhs of unsuspecting investors of around Rs. 500 crore in just two years, police claimed on Monday.   Ulhas...

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  • Overseas investors infuse over 11,000 cr in stocks in Oct so far
    Posted Date : 22-Oct-2012 , 07:27:38 am | Posted By CASANSAAR

    Overseas investors poured in more than 11,000 crore rupees in the stock market this month so far enthused by reforms initiatives taken by the government to boost economic growth and investor sentiment.As per data available with market regulator Sebi, during October 1-19, Foreign Institutional Invest...

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  • Emkay to approach NSE for annulment of erroneous orders
    Posted Date : 07-Oct-2012 , 11:44:21 am | Posted By CASANSAAR

    Emkay Global Financial Services, whose erroneous Rs 650-crore sell order in the cash market caused a massive fall of 900 points on the Nifty, the benchmark index of the National Stock Exchange, on Friday, is expected to request the exchange for annulment of its orders.   Source close to the E...

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  • First phase of e-IPO facility by Jan 2013
    Posted Date : 07-Oct-2012 , 11:34:11 am | Posted By CASANSAAR

    Market regulator Sebi on Friday said that e-IPO facility, which would allow retail investors to submit their bids electronically for initial public offer shares, would be implemented in two phases, with 400 locations to be covered in the first phase by Januuary 1, 2013; the remaining 600 locations w...

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  • Sensex sees biggest single-day gain of 2012 on reforms push
    Posted Date : 21-Sep-2012 , 03:44:36 pm | Posted By CASANSAAR

    The stock markets continued to rally in the afternoon session following the Government's decision to hold firm by notifying all FDI decisions taken last week despite the TMC fallout.   Analysts said that the positive cues from the Government coming in are boosting activity in the markets. Als...

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  • Share buyback expenditure not taxable: Income Tax Appellate Tribunal
    Posted Date : 13-Sep-2012 , 08:33:45 am | Posted By CASANSAAR

    In an order that will have a bearing on companies opting to buy back shares at a premium, the Income Tax Appellate Tribunal (ITAT), Mumbai held that tax is not payable for the expenditure incurred for such buybacks. Such buybacks involve an expenditure incurred for a smooth and effici...

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  • MCX offers 50% discount on transaction fee, to start equity trade in Nov
    Posted Date : 10-Sep-2012 , 11:48:06 pm | Posted By CASANSAAR

    MCX Stock Exchange aims to formally start stocks trading around Diwali in mid-November, chief executive Joseph Massey said on Monday, in its quest to become the country's third major equities market.The MCX Stock Exchange has been quickly taking the necessary steps to commence stock trading since th...

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  • NSE issues SME platform norms; 1st IPO to hit next week
    Posted Date : 01-Sep-2012 , 08:22:35 am | Posted By CASANSAAR

    National Stock Exchange today issued detailed guidelines for its new trading platform for shares of small and medium enterprises (SMEs), where the first Initial Public Offer by a company would begin on September 4.   As per a circular issued by NSE, all members eligible for its main capital m...

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  • Gold zooms to new record at Rs 31,300 on strong global cues
    Posted Date : 26-Aug-2012 , 10:14:32 am | Posted By CASANSAAR

    Buoyed by a strong rally overseas, gold rose to touch a new high of Rs 31,300 per 10 grams in the bullion market here on Saturday.Gold added Rs 185, registering gains for the sixth day in a row, while silver added Rs 950 to Rs 57,800 per kg on increased buying.Silver co...

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  • FII stock markets crosses 11 billion dollars
    Posted Date : 21-Aug-2012 , 07:27:52 am | Posted By CASANSAAR

    Foreign investment in Indian stock markets has crossed 11 billion dollars so far this year. Market analysts expect the inflows will continue amid hopes of government's initiatives on policy reforms. Securities and Exchange Board of India says, the bulk of 1.02 billion Dollars came this month. A...

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  • SAT asks HSBC MF to pay for losses suffered by investors
    Posted Date : 11-Jul-2012 , 07:56:57 am | Posted By CASANSAAR

    The Securities Appellate Tribunal (SAT), a quasi judicial body, has directed HSBC Mutual Fundto compensate the losses suffered by some investors in one of its debt schemes. This is the second order by the tribunal in little over a year asking the asset management company to make ...

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  • MCX Stock Exchange gets nod to start bourse
    Posted Date : 11-Jul-2012 , 07:55:00 am | Posted By CASANSAAR

    After struggling for almost four years and fighting court battles that went till theSupreme Court, late on Tuesday MCX Stock Exchange (MCX-SX) got the nod from market regulator Sebi to start operations as a full-fledged stock exchange, offering trading in stocks, futures &am...

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  • RIL buyback gains pace; purchases shares worth Rs 1,481 crore
    Posted Date : 27-May-2012 , 05:23:36 pm | Posted By CASANSAAR

    After a slow start, Reliance Industries Ltd (RIL)'s share buyback programme seems to have gathered pace with the company having acquired stocks worth Rs 1,481 crore since launch of the share repurchase offer in February. According to the information available with the bourses, Mukesh ...

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  • FB now a $100 bn company; investors 'like' Facebook shares
    Posted Date : 19-May-2012 , 07:23:39 am | Posted By CASANSAAR

    Social networking site Facebook, whose 900 million user strength is only behind China and India's populations, went public on Friday as its much sought- after shares got listed at Nasdaq and the stock is trading at $41.10, much above its IPO price of $38 in early trade.  Facebook IPO...

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  • 2 USE directors quit as Sebi questions board structure
    Posted Date : 25-Apr-2012 , 08:19:44 am | Posted By CASANSAAR

      The Securities and Exchange Board of India's (Sebi) probe into United Stock Exchange (USE), alleging it of giving BSE more than permissible representation on its board, has led to the resignation of two directors.   Arun Ramanathan, public interest director (PID) at USE and chairman...

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  • ICICI Bank to pay customer for causing loss
    Posted Date : 26-Mar-2012 , 07:30:31 am | Posted By CASANSAAR

    ICICI Bank has been ordered by a consumer forum here to pay over Rs 2.14 lakh to one of its account holders for causing him financial loss by selling his shares pledged with it at lower price without his consent. The District Consumer Disputes Redressal Forum gave the order on the plea by Janakpuri...

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  • MCX IPO overbid 54 times to Rs 35,000 crore
    Posted Date : 25-Feb-2012 , 03:49:21 pm | Posted By CASANSAAR

    After rushing to bet on the initial public offering of Multi-Commodity Exchange (MCX), investors, long starved of maiden issues, will next try their luck in the upcoming share sale of ONGC. The listing gains from MCX and the money investors make from ONGC's follow-on offer may pave the way for a ...

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  • MCX sets IPO price band at Rs 860-1,032 per share
    Posted Date : 16-Feb-2012 , 03:09:43 pm | Posted By CASANSAAR

    India's largest commodity bourse Multi Commodity Exchange (MCX) set a price band of Rs 860 to Rs 1,032 a share for its initial public offering, which could raise up to Rs 663 crore.   The bidding for shares in the IPO -- the first of the year 2012 -- would begin on February 22 and close on Fe...

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  • Four companies skip IPO plans
    Posted Date : 30-Jan-2012 , 08:23:50 am | Posted By CASANSAAR

    Despite bullish stock markets so far this year, four companies have refrained from coming out with IPOs worth over Rs 700 cr, letting their regulatory approvals lapse. The companies which have let their approvals lapse include Micromax Mobiles, Pride Hotels, Betul Oil and Tara Jewels. Inte...

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  • Vodafone India sets ball rolling for IPO, appoints NM Rothschild
    Posted Date : 17-Jan-2012 , 08:39:39 am | Posted By CASANSAAR

    UK-based telecom major Vodafone has moved a step further to list its India operations by roping in investment bank NM Rothschild to assist the listing plans. According to sources, Vodafone India has roped in investment bank NM Rothschild to assist the company in its listing plans. When contacted...

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  • Foreign individuals can invest in public issues
    Posted Date : 03-Jan-2012 , 02:13:40 pm | Posted By CASANSAAR

    A foreign Individual, a foreign pension fund or even a foreign trust can invest in initial public offerings (IPOs) or follow-on public offers (FPOs) of Indian companies. The Government on Monday clarified that such ‘qualified foreign investors' (QFIs) will be allowed to invest in public offer...

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  • MCX 5th largest commodity exchange in the world
    Posted Date : 21-Dec-2011 , 08:09:28 am | Posted By CASANSAAR

     Multi Commodity Exchange (MCX) has taken the fifth spot among the global commodity bourses in terms of the number of futures contracts traded. Based on the latest data from Futures Industry Association (FIA), during the period between January and June this year, about 127.8 million future...

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  • 25 companies call-off IPOs due to sluggish market
    Posted Date : 29-Nov-2011 , 08:07:07 am | Posted By CASANSAAR

    Owing to a sluggish trend in the stock market, at least 25 companies have called off their Initial Public Offer plans so far in 2011, a report has said. Mostly from the real estate and power sectors, these 25 IPOs (Initial Public Offers) were together estimated to raise about Rs 31,000 crore wort...

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  • FII withdrawal, weak rupee responsible for market crash: Pranab
    Posted Date : 24-Nov-2011 , 08:45:25 am | Posted By CASANSAAR

    Finance Minister Pranab Mukherjee on Wednesday attributed the stock market crash to withdrawal of funds by foreign investors and depreciation of the rupee. Mr. Mukherjee told reporters in Delhi that, Markets have crashed because of continuous withdrawal of funds by Foreign Institutional Investors.He...

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  • Finance ministry favours extending trading hours for currency futures till 7pm
    Posted Date : 19-Oct-2011 , 08:21:42 am | Posted By CASANSAAR

    Currency traders may be in for longer working hours if the government has its way. The ministry of finance is understood to be backing a proposal to extend trading hours for currency futures, even though exchanges and brokerages are divided on the subject. The issue cropped up at a recent meeting...

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  • Shareholders reject Unitech dividend
    Posted Date : 30-Sep-2011 , 07:39:11 am | Posted By CASANSAAR

    In an unusual development , the shareholders of realty major Unitech on Thursday rejected management's decision for dividend payment at 5% of share's face value, totalling about Rs 30 crore for the fiscal 2010-11 . The company had earned a net profit of Rs 567 crore in the last financ...

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  • BSE gets SEBI approval for SME Exchange
    Posted Date : 29-Sep-2011 , 08:31:21 am | Posted By CASANSAAR

    The markets regulator SEBI today granted permission to the country's premier bourse BSE to launch its much-touted SME Exchange that will offer a platform to small and medium companies to raise funds from the primary as well as debt markets. Commenting on the development, BSE Managing Director an...

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  • Anil's big plan: from stake sale to Reliance Bank
    Posted Date : 28-Sep-2011 , 08:25:48 am | Posted By CASANSAAR

    Anil Ambani is a dedicated marathon runner. That skill was in full display on Tuesday as he moved from one annual general meeting to another— four in all — from early morning to the evening.   In the process, the chairman of R-ADAG, now known as Reliance Group, spelled out his det...

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