NSE glitch leads to revamp of bourses’ interoperability system

MUMBAI: The interoperability system, which allows smooth settlement of equity trades done across exchanges, is set for an overhaul after the technical glitch at the National Stock Exchange in February raised questions about its effectiveness. The Securities and Exchange Board of India wants to revamp the existing system to ensure that trades will are executed … Read more

Sebi imposes Rs 25 cr penalty on Ambani brothers and others

Mumbai: The Securities and Exchange Board of India(Sebi) has imposed a total penalty of Rs 25 crore on current and former promoters of Reliance Industries Ltd (), including Mukesh Ambani, Anil Ambani, their mother, spouses and children, other family members and entities linked to them for alleged violation of takeover rules. In January 2000, RIL … Read more

Retail participation: A cut in REIT lot size under review

MUMBAI: India’s market regulator is weighing a proposal that seeks to reduce the minimum investment limit in real estate investment trusts (REIT) to facilitate retail participation in this asset class, especially at a time when New Delhi is keen to monetise some of its income-earning properties. While the current floor is Rs 50,000, the threshold … Read more

Sebi’s rule on analyst calls to help level the access to information

Niche social media platforms such as Telegram and Signal have emerged as new sources of information on companies and stocks — leaving the regulator to play catch-up on sharing of price-sensitive information on these channels. Synopsis Companies took any number of days to upload the transcript of such calls, though the information shared in the … Read more

SBI, BoB perpetual yields surge amid concerns

MUMBAI: Monday’s trading session wasn’t for the faint hearted – regardless of asset class. Stocks were roiled for much of the day while bonds – of the perpetual variety – were pummelled, stretching for their investors a nerve-jangling ride that began last week after a regulatory fiat on valuing these debt instruments. On a day … Read more

Finance Ministry writes to Sebi, ‘requests’ agency to withdraw perpetual bond rule

The finance ministry “requested” the Securities and Exchange Board of India (Sebi) Friday to withdraw the part of its Wednesday circular that changed the rules followed by mutual funds to value perpetual bonds. The capital market regulator hadn’t responded to the suggestion at press time, but is expected to review the rules before they take … Read more

Two telecom lines fail to protect world’s top derivative bourse

By Nupur Acharya and Siddhartha Singh Less than an hour into trading in India’s $2.7 trillion stock market on Wednesday, dealers saw index levels on the National Stock Exchange’s cash segment had stopped updating. By 11:40 a.m., the world’s biggest derivatives bourse halted trading in all segments. The incident prompted the markets regulator to ask … Read more

Blackstone-owned auto parts firm Sona Comstar set for Rs 6,000-cr IPO

Mumbai: Sona Comstar, leading Indian auto component maker owned by PE fund Blackstone Group Inc, is set to raise about Rs6000 crore ($825 mn) through an initial public offer (IPO). A DRHP (draft red herring prospectus) will be filed with regulators this week, possibly as early as Tuesday, said multiple people aware of the development. … Read more

Kishore Biyani barred from accessing securities market for a year

The Securities and Exchange Board of India (Sebi) on Wednesday barred Future Group CEO Kishore Biyani from accessing securities market for a period of one year. Biyani won’t be allowed to buy, sell or deal in securities of for two years. Sebi said that it reached the decision on Biyani after probe into use of … Read more

Exempt state-run AIFs from oversight rules: FinMin to Sebi

Mumbai: The finance ministry’s department of economic affairs has asked the capital markets regulator to consider providing special exemption to government-sponsored Alternative Investment Funds (AIF) from the new governance requirements, said two people privy to the development. In September, the Securities and Exchange Board of India (Sebi) had issued a new set of rules for … Read more