SEBI: Disclose corporate governance rating
Mumbai: Speaking at a seminar on corporate governance, organised by the Securities and Exchange Board of India, its Chairman, Mr G.N. Bajpai, said that SEBI will encourage companies to disclose their corporate governance rating, though it will not be made mandatory. He said that it was increasingly important for Indian corporates to ensure high levels of disclosure and good governance because of the intensifying competition for global capital and growing investor awareness.
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BSE launches two products for net trading
Mumbai: The Bombay Stock Exchange (BSE) has launched two new products — Electronic Contract Notes (ECNs) and SpeedX Plus, for brokers and investors. According to the BSE, the ECNs is for members of both BSE and the NSE and will allow them to issue contract notes-cum-bill to their investors through a simple file upload utility. Brokers can, in turn, issue the contract note-cum-bill to their sub-brokers' investors through the same system. SpeedX Plus is a new streaming quotes internet trading terminal for members and investors, which delivers BSE's real time trading capabilities similar to the online trading system.
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SEBI: Threshold limit for off-market acquisitions
Mumbai: Consequent to the observation of its internal group on take-over regulations, that off market transactions avoided transparency and also did not contribute to price discovery, the Securities and Exchanges Board of India (SEBI) is recommending that the threshold limit for acquisitions through off-market transactions should be limited to 5 per cent of shares. According to the report, as a result of these transactions, investors could not get the benefit of the best possible price. Acquisition through preferential allotment, however, would be exempted.

With regard to the time taken to present open offer formalities, the group has recommended a reduction from 120 days to 90 days, in order to align with international norms. SEBI also feels that in order to facilitate an informed decision by the shareholders regarding the open offer, the board of the target company may be required to comment on the affairs of the target company, especially its future plans, capacity utilisation, any impact on the company due to changes in government policies regarding the industry, by way of a notice to the shareholders of the target company, and the same should form part of the listing agreement. Further, the comments may also be made available at the target company's website and at the website of all the stock exchanges where the shares of the company are listed. The report has now been put up for public comments.
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Sensex up 36 points
Mumbai: The Sensex opened on a weak note and remained volatile during the day. The Sensex was up 36 points, closing at 5,734.44, while the S&P CNX Nifty gained 13 points and closed at 1,821.35.
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DCI shares: Price band of Rs 385-400
New Delhi: The government has fixed a price band ranging between Rs 385 and Rs 400 per share for sale of 56 lakh shares worth 20 per cent of the equity in the state-run Dredging Corporation of India.Retail investors who subscribe to the issue would be offered a five per cent discount. The offer opens on Wednesday. The final offer price would be decided after the book closes on March 4.

The Government is selling 20 per cent of its equity in the company where it currently holds close to 98 per cent stake. Of the 56 lakh equity shares being offered, 50 per cent have been reserved for Qualified Institutional Buyers, not less than 25 per cent of the offer shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 25 per cent of the offer would be reserved for retail individual bidders.
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