Derivatives trading to kick off in June
The SEBI board will, in its meeting slated shortly, clear the implementation of the LC Gupta committee report on derivatives with "minor changes". The regulator has also finally veered around to a view that derivatives should not be restricted to institutional investors alone, but that it should be extended to high net-worth individuals.
CLB issues summons to JVG Finance directors
The Company Law Board (CLB) has issued summons to all directors of JVG Finance on a number of complaints filed by investors alleging default on payment by the company. Officials who have been summoned include chairman and managing director V K sharma and two directors Colonel Tirpat Singh Bhan and Mohan Chand Joshi.
Panel to discuss compulsory demat trading in select scrips
The committee on settlement issues (Cosi) of the National Stock Exchange (NSE) will take up the issue of compulsory demat trading for all sections of the market in a few select securities in a meeting on Saturday. The list will be separate from the current list of eight securities in which institutions are required to sell only in demat form.
Sensex dips 101 points on panic-selling
Panic selling at the software counters triggered the much-awaited correction in the stock market indices on Wednesday. Amidst aggressive selling by institutional operators and continuous attempts made by local speculators to liquidate a considerable chunk of their outstanding positions saw the Sensex plunge 101.52 points to cross the psychological barrier of 4,200 points to close at 4,179.44 points.
J&K Bank set to tap market next month
Jammu and Kashmir Bank (J&K Bank), one of the largest private sector banks, will enter the capital market on May 13 with its maiden issue of Rs 70.30 crore. The public issue will be of 185 lakh equity shares of Rs 10 face value at a premium of Rs 28.
Duff & Phelps assigns AA- rating to Krishna Filaments debt plans
Duff & Phelps Credit Rating India Private Ltd has assigned AA- ratings to the Rs 30-crore preference share and Rs 30-crore non-convertible debenture (NCD) programmes of Krishna Filaments. The ratings of both the debt programmes take into consideration the operational efficiency of the company in manufacturing and selling synthetic ropes in both the domestic and international markets.
