SEBI considering compulsory demat for public issues: The Securities and Exchange Board of India (SEBI) is considering making initial public offering (IPO) in the paperless form mandatory, a top SEBI official said today. ``SEBI is planning to make public issues in the dematerialised form mandatory in order to boost paperless transactions in the country,'' SEBI executive director Pratip Kar told delegates at the Global India Entrepreneurs Conference organised by the Federation of IndianChambers of Commerce and Industry (Ficci). Kar said in order to popularise paperless trading, the National Securities Depository Ltd was considering to start depository services in 35 cities across the country.

Sun F&C plans to raise Rs 100 crore: Sun F&C asset management company has drawn up major plans and aims to garner Rs 100-110 crore from the domestic market before the close of fiscal 1998-99. The current corpus of three domestic funds run by the asset management company is Rs 11 crore, which it plans to increase to Rs 100 crore in the next four months. ``Now, that we have an impeccable track record in terms of performance and a whole family of funds to meet every taste of an investor, we want to increase our reach,'' said the chief executive officer of Sun F&C asset management company, Nikhil Khattau.

Warning to DPs against comet: The National Securities Depository Ltd (NSDL) has sent out a warning to its depository participants, issuers and registrars connected to its network of apossible failure in system owing to the threat from a comet between November 14-20. The depository has asked these entities to carry out their operations using on-line dial-up facility in the event of the V-Sat network collapsing. It has prescribed certain preventive and disaster management measures to avert any crisis.

KP equity funds' NAV falls: The net asset values of equity funds from Kothari Pioneer have shown a decline during the month of October which was marked by the dominance of US '64 fiasco and its impact on the equity markets. This included the one of the largest single-day drop of 225 points. However, these funds have fallen less than their respective benchmarks and hence, managed to outperform them.

SIB listing in Dec: The South Indian Bank is likely to be listed on bourses around mid-December. ``We have already allotted the shares and are in the process of the completion of other formalities. If everything goes as we planned, SIB would be listed before the end of December,1998,'' said Maurice D' Souza, the chairman of The South Indian Bank Ltd. However, considering the current market conditions, the prospects of SIB listing at a premium to the offer price do not appear bright.

DSE takes up cudgels with former director: The Delhi Stock Exchange (DSE) today took up cudgels with one of its former directors who had resigned alleging harassment, saying steps initiated against him were only part of the DSE's regulatory functions. Terming the allegations of harassment and victimisation by former DSE director M G Bajaj as "baseless", DSE spokesman V Shankaran said "in the course of discharging their duty, stock exchange officials are required to ensure compliance of all members, including elected directors".

Funds slash loads to attract investments: The concept of no-load funds is catching up with asset managements. Since returns from debt oriented schemes generally hover around the same region, load can make all the difference on the total return to the investor.Given an identical NAV performance, low load will clearly translate into higher total return to the investor. Many of the open-end income funds from the private sector charged an entry load initially. Subsequently, they have revised their load downwards. Today, most of the open-end income funds carry zero entry load. The no-load idea is becoming common even with equity oriented or growth funds.

Get IT portfolio for Rs 2000: Launched in August, 1998, Kothari Pioneer IT fund collected Rs 8 crore. In the short span since inception, the fund has posted a return of 3.51 per cent. In the past one month ending October 31, 1998, the fund has depreciated by 1.86 per cent. The fund has managed to outperform its benchmark as well as the broad market index. Kothari Pioneer Infotech Fund is the ideal vehicle for retail investors bullish on the IT sector.

Special margin on Kolar: The Bombay Stock Exchange (BSE) has decided to impose special margin of Rs 12 on the equity shares of Kolar InformationTechnology wef November 13.

OTCEI's third settlement after re-launch: OTCEI has successfully completed its third settlement since re-launch of trading in the permitted securities segment with weekly netting on November 13. The total value of the settlement was Rs 47.26 lakhs for securities and Rs 35.81 lakhs for funds. The pay-out has been completed and all shortages to the extent of 10.24 per cent have been successfully auctioned.

Pivotals turn weak on fresh selling: Pivotals reacted on the National Stock Exchange (NSE) here today on emergence of selling by Foreign Institutional Investors (FIIs) and domestic funds. The S&P CNX Nifty fell by 4.50 to end at 867.25 from the last close of 871.75. CNX Nifty Junior declined by Rs 4.55 to 1442.00 from the previous close of 1446.55. S&P CNX Defty eased by 3.70 to 709.80 from 713.50. S&P CNX 500 lost 3.95 at 588.54 from the last close of 592.49. CNX Midcap 200 dropped to 519.57 from 520.05. The total volume of business was at Rs 1,320.13 crore from672.17 lakh shares and in 1,99,289 trades. Debentures traded value was Rs 35.59 lakhs. The exchange witnessed 442 scrips advance, 520 scrips decline and 106 scrips steady. 25 securities hit their price bands today, the NSE said. The most actively traded scrip was Reliance with a turnover of Rs 230.41 crore.

Demat trades worth Rs 6.77 cr from 2.72 lakh shares: A total of 2.72 lakh shares of the value of Rs 6.77 crore were traded the demat segments of the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) today, according to press release of National Electronic Settlement and Transfer (NEST). At the NSE, HDFC Bank traded 1,13,900 shares valued at Rs 65.64 lakh in 48 trades, BSES traded 36,000 shares valued at Rs 57.16 lakh.