Hyderabad SE finishes demutualisation exercise
Hyderabad: Hyderabad Stock Exchange (HSE) has completed the demutualisation exercise after having substantially slashed its listing fee in a bid to hold back the companies from delisting process and, thereby, emerging as one of the few Indian stock exchanges to do so. A newspaper reported that the HSE has now completed another significant exercise of finalising the demutualisation package and submitted it to the market regulator.

In terms of the demutualisation package suggested by the Securities and Exchange Board of India (SEBI), the stock exchanges have to segregate ownership, trading right and management of the exchange and convert themselves into companies limited by shares instead of being limited by guarantee. HSE officials say the twin rights of the members which were embedded in the membership card of the exchange would be decoupled through the cancellation or extinguishment of the membership card against a consideration of creation of two assets or rights.
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Nalco shares excel
Mumbai: National Aluminium Company (Nalco) is going the right way. Despite the uncertainty regarding the company's disinvestment, institutional investors are buying Nalco's shares on the back of a talk that the company has bagged a substantial order for alumina exports from China. The size of the order is estimated around $150 million.

Reports say the overall sentiment at this counter is quite bullish on back of rise in the international alumina prices. Besides, with the rise in the international alumina prices the price of aluminium has also increased though with a time lag of a quarter and this will benefit the company which is a major exporter of aluminium. Nalco's stock closed marginally higher, up 0.48 per cent at Rs 104.65 on the BSE with 5.75 lakh shares traded. On NSE, the stock gained 0.67 per cent to close at Rs 104.95 with 16.09 lakh shares traded.
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BPL may see better times again
Mumbai: BPL Ltd saw a substantial activity with the stock touching new highs on the stock markets. The stock attracted buying interest on the back of expectations that the company would announce a debt restructuring plan apart from reporting good sales numbers this quarter. BPL's stock shot up 19.95 per cent on the BSE to Rs 46 with 2.73 lakh shares traded. On the NSE, the stock climbed 20.10 per cent to close at Rs 46.30 with 5.94 lakh shares traded.
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Agro Tech Foods to delist from two bourses
Hyderabad: Agro Tech Foods Ltd (AFTL), a subsidiary of ConAgra, plans to delist its equity shares on the stock exchanges of Hyderabad and Kolkata. The company will be seeking the authorisation of its shareholders in this regard at its annual general meeting to be held on July 30.

According to AFTL's annual report, the company's shares are not actively traded on the Hyderabad and Kolkata stock exchanges. "Trading in the equity shares had been negligible and even zero. It is felt no useful purpose will be served to continue having the equity shares listed on these stock exchanges." The company's shares, however, will continue to be listed on the Mumbai and the National stock exchanges.
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Rupee down
Mumbai: The rupee closed a bit lower on Monday at 46.2725/2825 in the local currency markets. The domestic currency opened at 46.2500/2600 and touched an intra-day high of 46.24. Dollar inflows were thin with hardly any foreign institutional investors, exporters or non-resident Indian participating in the market.
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