SEBI wants Grasim open offer stalled
Mumbai: The Securities and Exchange Board of India today told the Securities Appellate Tribunal that Grasim Industries should not be allowed to continue with its open offer for L&T shares because SEBI's investigations could lead to any possible outcome, including Grasim being debarred from accessing the capital market, or being directed to disinvest in L&T.

SEBI was arguing against an appeal from Grasim questioning SEBI's stay on its open offer for shares in L&T, pending investigations.
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UTI collects Rs 3,500 crore from July to November
Mumbai: Unit Trust of India (UTI) today said that it has mobilised over Rs 3,500 crore in the current year within a period of less than five months (from July 1 to November 26) compared to total sales of Rs 2,609 crore during the entire year 2001-02 (July-June)
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AMFI sets up working group on private placements
Mumbai: The Association of Mutual Funds in India (AMFI) has set up a working group on regulating the private placement market. Mr Nilesh Shah, Director & CIO, Fixed Income, Templeton Asset Management, has been named co-ordinator of this group.
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Wipro scrip up on acquisition talk
Mumbai: While most tech stocks were under selling pressure yesterday, Wipro was able to attract buying interest. The buying, according to dealers, was on talks that the company will announce some acquisition shortly. On the back of this talk, some leading FIIs were believed to have made purchases on Wednesday.

Dealers said if the acquisition talks turned true, it would improve the business model of the company. It was, however, not known whether the acquisition would be in India or outside the country.
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Lok Sabha passes SEBI Bill
New Delhi: The Lok Sabha on Wednesday passed the SEBI Bill.The government assured the Lok Sabha that it would go the whole hog in promoting demutualisation of stock exchanges to prevent market violations by brokers and traders as the House passed a Bill to provide more teeth to market regulator SEBI.

The Government has also indicated that it was open to incorporating changes in the SEBI (Amendment) Bill based on the recommendations of the Joint Parliamentary Committee probing into the stock scam.
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