BSE to allow listing of firms with Rs 3-crore capital
Mumbai: The Bombay Stock Exchange (BSE) has decided to permit listing of the shares issued by small cap companies. Companies having a paid-up capital of Rs 3 crore after the issue can list on the exchange. Other conditions for listing on the BSE include minimum turnover of Rs 3 crore in each of the previous three years and should have a minimum of 500 shareholders.

At present, the BSE allows listing of shares of the companies with a post-issue capital of Rs 10 crore or a post-issue capital Rs 5 crore with a market capitalisation of Rs 50 crore. Apart from BSE norms, these companies would be required to meet the SEBI guidelines for making public issue. In the case of NSE, the listing requirements are paid-up capital of Rs 10 crore, a market capitalisation of Rs 25 crore and for the knowledge-based companies, the requirement is Rs 5 core paid-up capital and market capitalisation of Rs 50 crore.
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PSU stocks up as special dividend hopes soar
Mumbai: The stocks of select public sector units, which include HPCL and BPCL, went up in Tuesday's trading on expectation of a special dividend by these companies. Stockbrokers were quoted as saying that several PSUs, especially in the oil and petroleum sector, were contemplating a special dividend, which led to a rise in the stock prices of PSUs. Some of the companies whose stock prices increased included HPCL, BPCL, ONGC, Bongaigaon Refinery and Shipping Corporation of India.

On the BSE, the HPCL stock gained 5.37 per cent at Rs 373.70, BPCL 6.17 per cent at Rs 369, ONGC 6.06 per cent at Rs 609, Bongaigaon Refinery 7.3 per cent at Rs 79.50 and Shipping Corporation gained 6.9 per cent at Rs 110.10. Brokers said the expectation is that these PSUs to announce special dividend and this would be mainly to help the government to mobilise funds in the absence of disinvestments of several companies.
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Oriental Bank of Commerce gains
Mumbai: The Oriental Bank of Commerce (OBC) counter gained as the buy-list of select FIIs touched a new high on Monday. The increased interest in the counter was on expectation of good results in the second quarter of this fiscal. OBC is considered among the most attractively stock among the PSU list due to low NPAs and high growth in the next few years.

Reports say the talk is that FIIs also bought large quantity of futures contract of the OBC. The open interest in the OBC October futures contract has increased almost 40 per cent in the last two trading session. On Monday, the stock of OBC closed at Rs 197.90, up 8.05 per cent on BSE with volume of 15 lakh shares and on NSE it closed at Rs 197.45, up 8.34 per cent with volume of 35.66 lakh shares.
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Kajaria Ceramics shareholders okay delisting
New Delhi: The shareholders of Kajaria Ceramics have approved the delisting of the equity shares of the company from the Uttar Pradesh, Delhi and Kolkata stock exchanges.

The agreement for delisting the equity shares of the company from the three stock exchanges was given by the shareholders at the annual general meeting held on 24 September, KCL said in a communication to the Bombay Stock Exchange.
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Rupee moves up
Mumbai: The rupee ended marginally stronger on Monday at 45.83/84 per dollar, as compared to previous closing levels of 45.85/86.
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