FIIs can play derivatives without cash position rider
Mumbai: The Reserve Bank of India (RBI) has permitted the foreign institutional investors (FIIs) to leverage in the derivatives market without having an underlying position in the cash market.

Till now, the FIIs could only hedge in the derivatives market in that they could only trade in index futures, and that too to the extent of their exposure in the cash market, subject to restrictions laid down by the RBI.

Earlier, Sebi had allowed FIIs to trade in all derivative products and stated that physical deliveries in stock options and future contracts will start from April 2002.
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Sebi to prosecute companies delaying demat
Mumbai: Securities and Exchange Board of India will soon launch prosecution proceedings against companies delaying request for dematerialisation of shares from investors.

National Securities Depository Ltd and Central Depository Services Ltd would publish a list of companies which were delaying demat requests, Sebi said in a release.

As an effort to reduce the burden of costs on investors, the entities making an open offer to acquire shares of a particular company would have meet expenses for the process of dematerialisation, Sebi said.
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LSE may open office in India
Mumbai: The London Stock Exchange (LSE) is looking at setting up an office in India in the next 12 months.

According to LSE country manager (India) Deborah Medley Foye, around 50 Indian companies are likely to come to the LSE in the near future. These include 10-15 biotech and about 20 infotech firms.

Currently, 18 Indian companies are listed on the Luxemburg Stock Exchange including Gas Authority of India, BSES, Steel Authority of India, State Bank of India, Bajaj Auto, Ashok Leyland, Tata Tea, SSI Technologies, Aptech, SIEL, JK Corp, EID Parry, Crompton Greeves, CESC, Indian Hotels, East India Hotels and Raymonds.
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