SEBI may relax public issue norms for PSUs
Mumbai: In order to provide the disinvestment of government holding in public sector units, the Securities and Exchange Board of India (SEBI) is all set to listen to a government request and relax the norms of public issues.

SEBI chairman G N Bajpai on Friday said the board will do whatever is necessary for the successful public offer of all scrips, including the impending ones of Gail (India) and ONGC. The PSUs are reported to have sought relaxation of various norms for their initial public offers (IPO). These include reducing the lot size from 100 to 10, declaring the price band a day before the opening of the offers and earmarking some equity for allotment to shareholders of group companies.
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Banks wait for RBI norms to foray into stock broking
Mumbai: Banks are waiting for the Reserve Bank of India guidelines to enter the stock broking business. Senior bank officials were quoted as saying that the central government is interested in allowing select banks to obtain trading cards in stock exchanges.

As of now banks' exposures to the capital market have been through investments and advances. According to bank officials, initially, RBI is expected to allow four to five major banks, including State Bank of India, Bank of Baroda and Canara Bank. The move is expected to provide not only further depth to the equity market, but also help boost retailing of debt securities.
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Bears dominate the bourses
Mumbai: Bears were dominating Friday's trading activity. Their dominance left the bulls with no opportunity to recover during the day's trading, says a report. The sentiment reading of the tradeable counters remains bearish. Irrespective of bull or bear domination on Tuesday, the prevailing sentiment reading is likely to continue with a slight change in its value.
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UTI Bank, Geojit join hands for Qatar trading platform
Kochi: Geojit Securities has tied up with Doha Bank and will provide a safe and seamless trading platform for the 2.5 lakh non-resident Indian in Qatar to trade in Indian capital markets from the end of February 2004. UTI Bank will be the Indian banking partner behind this new project.

"This will be the first such venture by an Indian company in Qatar and Doha Bank became an ideal partner because it is the second largest bank in Qatar and is already a member of the Doha Securities Market. They have also been trading in the American securities market for the past couple of years, through a similar tie-up with a US broking firm," C J George, managing director, Geojit Securities, was quoted as saying.
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