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BSE free-floats BSE-200 and BSE-500 indices
Mumbai: The BSE has decided to free-float the BSE-200 and BSE-500 indices.

The composition of the BSE-200 and BSE-500 indices would however remain unchanged after the shift.

The exchange has also decided to review the constituents of BSE mid-cap and BSE small-Cap indices. After this review, the total number of companies in mid-cap and small-cap index would be 258 and 497 respectively. These changes will come into effect from Monday, the BSE said in a release.
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Market capitalisation of Tata group at Rs.1300bn
Kolkata: The market capitalisation of all the Tata group companies has touched Rs1300bn, Tata Sons chairman Ratan Tata said today.

Ratan Tata was addressing the shareholders at the annual general meeting of Tata Tea Limited.
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Reliance Capital: AAA and Anil Ambani issue corrigendum
Mumbai: A corrigendum has been issued by AAA Enterprises and Anil D Ambani with reference to a public announcement made earlier to the shareholders of Reliance Capital, regarding the amount of shares being allotted to financial investors through a preferential offer.

Earlier Reliance Capital had agreed to issue and allot on a preferential basis, 6 crore fully paid up equity shares of Rs10 for cash at a price of Rs228 per share, including a premium of Rs218, per share aggregating to Rs1,368 crore and 4.1 crore warrants ,entitling the warrant holders to apply for one equity share of Rs10 each per warrant, at a price of Rs228 per share.

Reliance Capital had also agreed to issue on a preferential basis up to 2.9 crore equity shares of Rs10 each for cash at a price of Rs228 per share per share to financial investors not connected to the Acquirers.

However, Reliance Capital on Tuesday said it now proposed to allot only 1,62,60,001 (approximately 1.63 crore) equity shares to the financial investors, almost half the earlier amount of 2.9 crore.

Anil Ambani and AAA enterprise propose to acquire 29.5% of the equity capital post preferential issue of equity shares. The financial investors will now acquire 7.9% of the equity capital post the preferential issue, after today's announcement. In addition to the above, Reliance Capital will also issue warrants to the Anil Ambani and AAA enterprises. Post exercise of all the warrants, his stake will rise to 41.4% of the equity capital, thereby becoming the largest shareholder.

Reliance Capital was promoted by Reliance Industries.

On August 5, '05 the Board of RIL approved the scheme of demerger of the businesses of RIL. The scheme proposes to demerge assets and liabilities of RIL's telecommunications undertaking, coal-based energy undertaking, financial services undertaking, and gas-based energy undertaking. The appointed date for the Scheme will be September 1, '05. The Scheme envisages the demerger of the undertakings in four separate companies as going concerns. All shareholders of RIL will be issued shares of the demerged undertakings in 1:1 ratio.

As a part of the Scheme, RIL's interests in the financial services undertaking including the holding of RIL in Reliance Capital , will be transferred to Reliance Capital Ventures (RCVL). All shareholders of RIL would get one share of RCVL of face value Rs 10 each fully paid up for each share held in RIL.
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Assocham study: Gems and jewellery, media sectors favoured by FIIs
New Delhi: According to an Associated Chamber of Commerce and Industry of India (Assocham) Eco Pulse Study, the average FII exposure in the top 10 gems and jewellery firms increased by 13.41 per cent during the first six months of the current fiscal.
During the same period the average increase in the FII exposure amongst the top ten media firms was at 6.68 per cent.

According to the study, the average increase of the FII participation in the textile sector was 5.05 per cent, while the average FII exposure in the top ten hotel and hospitality firms went up by 5.01 per cent in the first six months of the current fiscal.

As far as IT companies are concerned, the average increase was 4.69 per cent.

The study further finds that FII inflows stood at $6.36 billion in the first seven months of the year, while it was only $3.72 billion during the corresponding period in the previous year.

Strong economic growth and industrial pick-up along with an increasing focus on core sectors such as infrastructure, power and telecom as well as a strong performance by corporates houses have resulted in FIIs continuing to remain bullish about the Indian market, the study said.
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