BSE fixes record date for bonus shares

Record Date for Allotment of Bonus Shares

NOTICE IS HEREBY GIVEN pursuant to Section 154 of the Companies Act, 1956 that Friday, the 13th March, 2009 has been fixed as the Record Date for ascertaining the Names of the Shareholders who shall be entitled to receive the Bonus Shares of the Company in the ratio of 12:1 (Twelve New Equity Shares for every One Equity Share held) as approved by the Members at the Extraordinary General Meeting held on Friday, the 20th February, 2009.

Members whose names appear on Register of Members of the Company and /or the Register of beneficial owners maintained by the Depositories as at the close of the Friday, the 13th March, 2009 will be entitled to the aforesaid Bonus Shares.

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

Members Holding Shares in Demat Mode The depository accounts of Members holding shares in demat mode will be credited with their entitlement of Bonus Shares and would be intimated accordingly.

Members Holding Shares in Physical Mode Transfer documents received upto the close of Friday, the 13th March, 2009 will be considered for entitlement of Bonus Shares.

Members Holding Shares in Physical Mode but require the Bonus Shares to be in demat mode Such Members should intimate the Company's Registrar and Share Transfer Agent (RTA), about their Client Id and Dp Id Nos. on or before Friday, the 13th March, 2009

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

Please inform about change of address to the Company's RTA - Karvy Computershare Computershare Private Limited, Plot No. 17- 24, Beside Image Hospital, Vittrao Nagar, Madhapur, Hyderabad- 500 081 on or before Friday, the 13th March, 2009.
For, Bombay Stock Exchange Limited
Place: Mumbai Date: 25th February,2009
Sd/V. G. BhagatCompany Secretary

posted under - BSE updates, bombay stock exchange, BSE limited, news from BSE, bonus shares news
source -www.bseindia.com

SEBI to simplify share inheritance rules

The Securities and Exchange Board of India (Sebi) will shortly modify some rules pertaining to inheritance of shares, based on the recommendations of the committee on ‘Transmission of Shares’, a person involved with the development told ET.

The move is likely to benefit the legal heirs awaiting inheritance of shares belonging to deceased relatives who neither made a will nor filed the mandatory nomination with depositories.

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

The new guidelines will pave the way for quick transmission of shares, especially physical shares. Brokers said investors residing away from urban centres have been facing maximum difficulties with respect to share inheritances.

Transmission means devolution of title to shares otherwise than by transfer, for example, devolution by death, succession, inheritance, bankruptcy, marriage, etc. Transmission is different from ‘transfer’; in transmission a person acquires an interest in the property by operation of law such as right of inheritance or succession, whereas transfer is effected by an act of the parties.

According to some people tracking the committee’s work, Sebi took about 16 months to move ahead on the report despite unanimity among committee members on addressing the difficulties in transmission of physical and dematerialised securities.

“In case of physical shares, companies would have to fix a threshold limit of 200 shares or Rs 1 lakh, whichever is higher, for transmission of shares after submitting the standardised documents,” said a person on the committee. “The limit will be the basic minimum limit to be adhered to by all listed companies.

Companies would require a deed of indemnity, an affidavit and a NoC in case there are other legal heirs. Those companies that have a higher threshold can continue with that,” he said. When the title to shares is passed by an operation of law, the beneficiary need not perform additional formalities.

Companies have different documentary compliances for the legal heirs of the deceased security holder. In many cases, this is tedious and discourages investors from following up on small amounts.

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

For instance, in case of a leading bank, a local manager submits a verification report on whether the legal heir possesses a succession certificate or the probated will. Market participants familiar with the development point to the need for updating the nomination of lakhs of investors.

posted under - SEBI, SEBI updates, indices, indian markets updates, indian share markets, indian stocks, bse updates, nse updates

Fund raising through IPO's hits the bottom - 2008

India Inc's capital mobilisation through initial public offering has hit rock bottom as the total amount raised via this route in BSE 2008 aggregated to $ 4,509 million, the lowest in the last three years, says a report.

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

Capital mobilisation through IPOs witnessed a fall both in terms of volume and value as only 44 transactions worth $ 4508.85 million were announced, global consultancy firm Grant Thornton said. Way back in 2005, however, there were as many as 64 such deals with an announced value of $ 5521.50, it added.

The total fund mopped up through IPO in 2008 was $ 4.51 billion, 18.34 per cent lower than the amount raised in 2005.Compared with 2007, fund raising has dipped by 54.55 per cent. Fund raising activity through IPO reached its peak in 2007, when a whopping $ 9920.65 million was garnered.

Though there was a fall in both value as well as volume terms but the year 2008 saw several large IPOs across the board including Reliance Power's $ 2.56 billion issue - the largest public issue of 2008, Grant Thornton added.

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

The other big IPOs in the year came from Rural Electrification Corp, IRB infrastructure developers and KSK energy ventures each raising $ 410 million, $ 236 million and $ 208 million respectively. The amount of money raised in 2008 was $ 4.51 billion, compared with $ 9.92 billion and $ 5.89 billion in 2007 and 2006 respectively.

posted under - IPO updates, BSE updates, indian markets, indian inc updates, bse stocks, nse stocks, IPO in India, IPO futures

BSE | NSE | DJIA | NASDAQ | Closing rates february 2009

This post includes closing rates of major stock markets of india and world such as Bombay Stock Exchange ( BSE) , National Stock Exchange ( NIFTY), Dow Jones Industrial Average(DJIA), Standard and Poor (S & P), Nasdaq Composite Index (NSDX) , closing rates of these most important indices are very important for regular investor's as they show the trends of stock exchanges and world economic trends.

The post provides closing rates details of Dow Jones Industrial Average(DJIA), NASDAQ, BSE (Bombay Stock Exchange), NSE (National Stock Exchange) on per day basis. You can check live DJIA ticker for latest Dow Jones Industrial Average Updates.

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-Rs v/s US$ latest updates
-World's Strongest economies list
-Trouble in Indian Forex
-Indian Agricultural Updates
-US Economic recession-how it started

By the end of this year i predict that BSE would be between 13ooo to 15000 ( it may be different scenario depending on US economic developments)

Note - All the closing rates of BSE, NSE, NASDAQ, DOW JONES INDUSTRIAL AVERAGE(DJIA), Standard and Poor(S & P) are according to Indian Standard time . to see closing rates of DJIA, NASDAQ, Standard and Poor ( S & P) according to American Standard time click here.


6-2-2009 | FRIDAY | Closing Rates | Comparison with previous day close

BSE (SENSEX) | 9300.86 | Up^209.98
NSE ( NIFTY) | 2843.10 | Up^63.05
DJIA ( DOW JONES) | 8063.07 | Up^106.41
NASDAQ | 1546.24 | Up^31.19


4-2-2009 | WEDNESDAY | Closing Rates | Comparison with previous day close

BSE (SENSEX) | 9201.85 | Up^52.55
NSE ( NIFTY) | 2803.05 | Up^19.15
DJIA ( DOW JONES) | 8078.36 | Up^141.53
NASDAQ | 1516.30 | Up^21.87


2-2-2009 | MONDAY | Closing Rates | Comparison with previous day close

BSE (SENSEX) | 9066.70 | Down(-357.54)
NSE ( NIFTY) | 2766.65 | Down(-108.15)
DJIA ( DOW JONES) | 8000.86 | Down(-148.15)
NASDAQ | 1476.42 | Down(-31.42)

SEBI increases upfront margin on warrants to 25%

The Securities and Exchange Board of India has decided to increase the upfront margin to be paid by allottees of warrants to 25 per cent from 10 per cent earlier.

The markets regulator also decided to relax the pricing norms regarding Satyam Computer, after its board examined a request for exemption of certain provisions of takeover regulation. This was done within the general context.

Also Read :
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-World's Strongest economies list
-Trouble in Indian Forex
-US Economic recession-how it started

SEBI has also shortened the timeframe for announcing the price band for an initial public offering to just two days against the present requirement of two weeks.

The timeline for announcement of bonus share issue has also been reduced to 15 days from 30 days earlier. Further, a company declaring the bonus issue would not require approval from the shareholders.

On dividend, SEBI said, listed companies will have to announce dividend on per share basis and not on percentage of face value of the share, as the face value may differ and mislead investors.

posted under - SEBI updates, BSE updates, BSE stocks, SEBI, SEBI news
source - www.economictimes.com

BSE - Direct Market Access (DMA)

Securities & Exchange Board of India (SEBI) vide its circular no.MRD/DoP/SE/Cir-7/2008 dated April 03, 2008 as per Annexure I, has approved and given necessary guidelines for providing Direct Market Access (DMA).

Direct Market Access (DMA) facility through various connectivity modes permits the trading members of BSE to provide direct trading terminals to their DMA clients.

As quoted in the SEBI circular 'Direct Market Access (DMA) is a facility which allows brokers to offer clients direct access to the exchange trading system through the broker’s infrastructure without manual intervention by the broker. Some of the advantages offered by DMA are direct control of clients over orders, faster execution of client orders, reduced risk of errors associated with manual order entry, greater transparency, increased liquidity, lower impact costs for large orders, better audit trails and better use of hedging and arbitrage opportunities through the use of decision support tools / algorithms for trading.'

For compliance of the said circular, the guidelines are as follows:

Eligibility:

As per the SEBI Circular, DMA facility initially is being restricted to institutional clients only.

Operational Instructions

* Application for permission:

Trading Members of BSE desirous of facilitating DMA to their clients are required to make an application to BSE in the format appended as Annexure II.

* Member-client agreement:


Members will have to execute an agreement with clients who are availing the DMA facility. Members shall ensure that the agreement entered into with their clients for DMA facility should not be less stringent/contrary to the conditions prescribed in the model agreement as prescribed by BSE. Click on Annexure III to Download Model Agreement.

* Prerequisites to granting of permission for Direct Market Access (DMA):

BSE shall grant permission to members for Direct Market Access (DMA) on a case-to-case basis.

BSE shall provide a test environment during a pre-specified time, which shall be intimated shortly. The trading Members are required to test their software using the said test environment.

On satisfactory completion of testing on the test environment, the Members are required to give a demonstration to BSE of their Direct Market Access (DMA) facility.

The software and systems proposed for DMA shall be duly certified by BSE-empanelled System Auditor before grant of permission.

Only on fulfillment of the minimum requirements mentioned in the SEBI / BSE Circulars, permission for commencing Direct Market Access (DMA) would be granted to the Trading Member.

Pursuant to the Trading Member's activation on the DMA facility:

Trading members shall provide BSE with details of user-ids activated for DMA on a periodic basis as per format which shall be intimated separately.

Members at their end are required to comply fully with the operational specifications and risk management mentioned in the SEBI circular. Also, Members must be compliant with guidelines issued by BSE for DMA, from time to time.

For further clarifications, contact :
Ojas Shah : Board No: 22721233 /34 ; Extn: 8504.
Bidur Bhattacharjee : Dir: 2272 2071 ; Extn: 8210
Email : bdmhelp@bseindia.com


Below are some of the documents issued by BSE pertaining to DMA and notified to members from time to time.

	Click below to Download
SEBI Circular	Annexure I.doc
DMA Application Format	Annexure II.doc
DMA Model Agreement	Annexure III.doc
Info in Order message	Annexure IV.doc

posted under - BSE stocks , BSE updates, BSE DMA, Direct market access, BSE live, BSE updates
source - www.bseindia.com

BSE to decide on rise in stakes of Deutsche, Singapore SEs

Bombay Stock Exchange will decide on letting Deutsche bourse and Singapore Stock Exchange increase their stake after the provision to the effect is made in the regulations, official sources said on Saturday.Currently, these two exchanges hold five per cent equity each in the BSE.

Sebi recently announced raising the equity holding limit in stock exchanges for certain entities like banks, insurance companies, depositories and stock exchanges from five per cent to 15 per cent.

Also Read -
- How Infosys manages to make profits
-Effect of Recession on Indian Economy
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-Rs v/s US$ latest updates
-World's Strongest economies list
-Trouble in Indian Forex
-Indian Agricultural Updates
-US Economic recession-how it started

Jagdish Capoor, non-executive chairman of BSE said the exchange will decide on increased stake for the two exchanges after the required provision is made (in the regulations).

When asked about the issues discussed at the meeting, he said, "there is nothing in particular for public domain. We discussed usual business issues."

posted under - BSE updates, BSE stocks, bombay stock exchange, indian markets updates, BSE, BSE live, BSE rates
source - www.economictimes.com

Top Companies lose whopping Re 72000 cr in Mkt capitalization

The country's top 10 companies have witnessed an erosion of about Rs 72,000 crore from their market capitalisation in a week, with Reliance Industries' valuation again dipping below the Rs 2,00,000-crore mark.

However IT major's Infosys, Wipro, TCS increased their value of market capitalization because may be investor's have already started thinking that theses three IT elephants would eat up Satyam's client in near future and so they are optimistic on stocks of TCS, Infy, Wipro.My Advice is to bet on tech outsourcing companies for a minimum of 1year time and see the returns you get for sure after 1 year time stamp is over.

During the week, the market capitalisation of top 10 firms -- comprising five each from public and private sectors -- witnessed an erosion by Rs 71,793 crore in their valuation to Rs 10,20,313 crore.

The market capitalisation of the 10 companies as on January 2 was at Rs 10,92,106 crore. During the week, the Mukesh Ambani-led firm's valuation dipped to Rs 1,81,152 crore, an erosion of Rs 20,908 crore during the week's time. The corporate behemoth had a market capitalisation of Rs 2,02,060 crore in the week ago period.

The company also witnessed a 10 per cent plunge in its share price during the week to settle at Rs 1,151.05 on Friday. The shuffling in the premier category of these 10 coveted companies saw state-run NMDC falling out of it after losing Rs 16,711.21 crore in a week, while BHEL taking its place at the seventh spot. Also Infosys climbed up to the eighth spot from 10th last week. Hindusthan Unilever entered the coveted club at the 10th place.

posted under - India's top companies, BSE updates, mkt capitalization of RIL, indian markets updates, Satyam fraud updates, Indian IT sector updates, investing in india, indian markets trends.