ONGC is top gun in the CNX Nifty
Mumbai: OIL and Natural Gas Corporation Ltd will replace Reliance Industries, at the top of the S&P CNX Nifty of the National Stock Exchange from Monday, April 12, as the stock with the highest weightage on the 50-share index.

With a weightage of 16 per cent, based on Friday's closing price on the NSE, ONGC will be the top-weighted stock on the Nifty. ONGC, which has a market capitalisation of Rs 1.26 crore, is the most valuable company in the country today. ONGC replaces Digital Globalsoft from the index.
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Citigroup picks up its greenshoe option in ACC
Mumbai: Citigroup Global Market Inc has purchased 8,06,000 global depository receipts (GDRs) of Associated Cement Companies, according to a notice sent to the stock exchanges by ACC. This is by way of Citigroup exercising the greenshoe option of $5 million in ACC's GDR issue of $40 million. Citigroup was the sole book runner and underwriter for ACC's recent issue of $60 million foreign currency convertible bonds and $40 million GDRs.
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ICRA survey: Market cares about corporate governance
Mumbai: A survey by rating firm ICRA says that capital market participants feel that insider trading, selective leak of price sensitive information and dubious accounting practices are their biggest concerns from the corporate governance perspective. The survey, conducted among fund managers, brokers and institutional investors says that inadequate concern for minority shareholders, excessive promoter control on management, unrelated diversification and CEOs who overreach themselves were also cited as areas of concern. Most importantly the survey says that corporate governance practices are at least as important as other factors such as financial numbers and growth prospects as an aid to investment related decisions.
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SEBI modifies guidelines for efficiency in market
Mumbai: The Securities and Exchanges Board of India has specified that a clear statement instructing investors to refer to the red herring prospectus for risk factors has to be made in public issue advertisements on TV. The guideline has also been modified to ensure that the facility of shelf prospectus can be availed of by specific entities like public sector banks, scheduled banks and public financial institutions.

The guidelines pertaining to preferential allotment have also been amended to restrict sale of shares by shareholders who are allotted shares on preferential basis, and also to reduce the period of allotment of preferential shares from existing 30 to 15 days, to facilitate corporate debt restructuring schemes and others, according to a SEBI circular. These amendments will come into force with immediate effect, stated SEBI.
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ICICI Bank issue price at Rs 280
Mumbai: ICICI Bank has announced an issue price of Rs 280 per equity share for its Rs 3,050-crore public issue. The issue has an over-subscription of 5.8 times, and has a greenshoe option of Rs 450 crore.
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BSE: Margin trading starts off with Wellspun scrip
Mumbai: The first ever margin trading on BSE was transacted on Thursday in the Welspun India scrip. In a statement the BSE said that 1.15 lakh shares were financed and the amount financed was Rs 53.20 lakh.
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