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SEBI to allow paperless scrip delivery in physical mode
In a major push to the dematerialisation process, Sebi has decided to allow the delivery of dematerialised shares in the physical segment as well from April this year. The market regulator has also decided to back a move by the working group to make changes in the Depository Act to make trading in demat shares mandatory.
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Sensex may go down to 3,320
Profit booking on Tuesday could take the Sensex down to 3320. The short-term indicator has given a sell signal. Volumes across a number of scrips is very limited, as indeed the price movement. Traders should carefully exploit the limited opportunity available for profit booking.
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SmithKline Pharma shares lose ground ahead of bonus issue
The bonus issue from Smithkline Beecham Pharmaceutical has failed to prop the scrip on the Mumbai Stock Exchange (BSE) and the National Stock Exchange (NSE). The scrip suddenly lost its sheen and after moving sideways for one session, the scrip lost by over Rs 19 on Monday to close the day at Rs 585 on the NSE and by Rs 20 to reach at Rs 586.5. on the BSE.
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Sebi committee drafts collective investment scheme definition
The committee set up by SEBI to work out regulations for plantation schemes has prepared a draft definition of collective investment schemes. At a meeting held in Mumbai on Monday, the committee deliberated on various options for a definition and decided that it would cover various plantation schemes or arrangements.
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