Badla rates at 14 to 15 per cent
Mumbai: Badla rates were at an average of 14 to 15 per cent per annum on
the Bombay Stock Exchange for the trading session ended on 8 January 2000. The total
volume of badla trading has been estimated around Rs 3,200 crore. The low rates have been
attributed to a sharp fall in the long outstanding positions of software stocks.
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BSE changes filter rates
Mumbai: The Bombay Stock Exchange has revised the daily circuit filter
limit on stocks quoting up to Rs 20. Accordingly, below par stocks (less that Rs 10) will
attract a daily filter of 25 per cent and weekly filter of 50 per cent, against
unspecified rates prevailing now. For stocks quoting between Rs 10 and Rs 20, the daily
filter is fixed at 8 per cent. Such stocks will not attract the weekly filter. Stocks
quoting at Rs 20 and above will continue to attract a daily filter of 8 per cent as
prescribed by the Securities and Exchange Board of India. The revised filter rates will be
effective from 10 January. BSE feels this will contain volatility, especially in small
denomination stocks.
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Sebi panel moots FII
status for venture capital funds
Mumbai: The venture capital study panel set up by the Securities and
Exchange Board of India wants venture capital funds to be treated on par with foreign
institutional investors. The report of the panel, headed by K.B. Chandrasekhar, co-founder
and chairman of the US-based Exodus Communication, has been submitted to Sebi. The report
has also suggested that for taxation purposes, foreign venture capital investors should be
treated like mutual funds.
Mr Chandrasekhar is of the opinion that the guidelines, if
implemented, will help India attract nearly $10 billion worth of investments in the next
three to five years. The panel has also suggested that foreign venture capital investors
should be registered with Sebi, and that Sebi should be the sole regulatory authority.
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