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BSE issues investor advisory as bull run continues unabated
Mumbai: In an uncommon move the Bombay Stock Exchange (BSE) has issued an advisory for small investors asking them to be watchful and take due care before investing in the market.

The move by the BSE comes as a follow up to a sharp rise in share prices with no corrections in evidence. BSE has taken note of the fact that several penny stocks have appreciated by as much as 6,000-7,000 per cent over the last few months.

The exchange has advised investors that their trading/investment strategies should be in line with their risk bearing capacity as all investments carry risk, the degree of which varies according to the investment strategy adopted. The exchange has told investors to be cautious about stocks, which show a sudden spurt in price or trading activity, especially low price stocks while pointing out that there are no guaranteed returns on investment in stock markets.
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Singapore Stock Exchange to re-launch Nifty futures
Kolkata: The Singapore Stock Exchange (SGX) will re-launch trading in the CNX Nifty futures from October 10.

According to a SGX note, the Nifty futures will have a smaller contract size on its platform - SGX Quest "to help facilitate active trading and encourage greater market participation".

The new contract will provide margin savings in the form of inter-commodity spreads for SGX equity contracts between the CNX Nifty Index and MSCI Taiwan Index, Nikkei 225 Index and MSCI Singapore futures contracts, the note said.

Thomas Tey, senior vice-president and head of International Products, at SGX said, "The sentiment towards India's growth potential has been positive and our market participants are enthusiastic about the SCX Nifty contract. This is an opportune time given the recent signing of the Comprehensive Economic Co-operation Agreement by India and Singapore".
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Deutsche MF to launch the Flagship Equity Fund
Kolkata: The Deutsche MF is set to launch the Deutsche Flagship Equity Fund, a scheme that will invest chiefly in equities. It will also be free to invest in debt securities, subject to a limit of 35 per cent.

The proposed fund, billed as a `flexi cap' scheme, will have the S&P CNX 500 as its benchmark index. Under normal circumstances, 80 per cent of the assets will be allocated to equities and equity-related securities of companies in the infrastructure sector, the offer document filed with SEBI has stated. The equity exposure can be scaled up to 100 per cent if the situation warrants. A 20 per cent allocation to debt, including securitised debt, is also possible.

Suresh Soni and Vinay Kulkarni have been named as the fund managers for debt and equity respectively. Deutsche Flagship will be the third scheme to be launched by the mutual fund in recent times after Deutsche Infrastructure Fund and Deutsche Stable Growth Fund.
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Tulip IT Services files prospectus for public issue
New Delhi: The Delhi-based Tulip IT Services Ltd has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for a public issue of 90 lakh equity shares.

According to a company release, of the total equity float, 81 lakh equity shares are for the public, while the balance nine lakh shares are reserved for eligible employees of the company.

The issue would constitute 31.03 per cent of the fully diluted post-issue paid-up capital of the company, while the net offer to the public would constitute 27.93 per cent of the fully diluted post-issue paid-up capital of Tulip IT Services Ltd, the release said.

While the face value of the equity shares is Rs 10, the pricing of the issue would be determined through 100 per cent book building process. Up to 50 per cent of the issue size shall be allocated on a discretionary basis to qualified institutional buyers (QIBs), and not less than 35 per cent of the issue shall be available for allocation on a proportionate basis to retail bidders.

The equity shares are proposed to be listed on the National Stock Exchange (NSE) and the Stock Exchange, Mumbai.

The objective of the issue is to raise funds to support the expansion of the company's IP/VPN wireless network covering 130 cities.
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