Motilal Oswal offers 1-paise broking on derivatives
Mumbai: Motilal Oswal Securities (MOSL) has announced its offer of 1 paise broking per Rs100 in derivatives on MyBroker, the online trading service of the firm.

Motilal Oswal, chairman of MOSL said around 10 per cent of the total broking has moved online and this trend is growing at 100 per cent. This offer will further expand the market for online trading by providing a platform at a competitive cost he said. The scheme is targeted at large-volume online traders who are self-directed.

MyBroker also has other accounts such as `Value', `Freedom' and `Easy', which are meant for customers who trade in different volume sizes and have different advisory needs, the note added. Back to News Review index page  

SEBI announces select stocks out of TT segment
Mumbai: SEBI has announced that the following companies - Ashim Investment Co, Associated Alcohols and Breweries, Kothari Safe Deposits, Oswal Yarns, Panyam Cements and Mineral Industries, Purbanchal Prestressed, Sangrahalaya Timber and Crafts, Scana Color (India) Ltd, Shibir India, Subhash Yurim Textiles and Tashi India - have established connectivity with both NSDL and CDSL by July 31.

Trading in the companies may be shifted to rolling segment from trade for trade segment (TT) by stock exchanges subject to at least 50 per cent of non-promoter holdings in the company being in demat mode before shifting as per clause 35 of Listing Agreement. Also, there should be no other grounds for continuation of trading in TT.
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FIIs allowed to buy HPCL's shares under portfolio scheme
Mumbai: Foreign institutional investors have been allowed to purchase equity shares of Hindustan Petroleum Corporation Ltd through the secondary market in India under the Portfolio Investment Scheme (PIS) without prior clearance of the RBI, according to a press release from Reserve Bank of India.

The RBI said that the foreign share holdings in HPCL have gone down below the caution limit of its paid-up capital.

FIIs can also purchase equity shares and convertible debentures of DCM (49 per cent) and PVR (40 per cent) through the primary/secondary markets in India under PIS up to the limits of the paid up capital shown against their names.
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Govt considers opening FDI in stock exchanges
New Delhi: The government has announced said it will make it clear within 10 days whether foreign players be allowed to hold a stake in the stock exchanges or not.

The policy would make it clear if bourses can invite foreign direct investment while divesting brokers equity in them below 49 per cent, in line with SEBI guidelines on demutualisation.

Nasdaq has reportedly expressed its keenness to pick up stake in Bombay Stock Exchange.

Many stock exchanges like BSE are awaiting the FDI policy and regulations on demutualisation from SEBI. BSE had said 26 per cent of its stake would be sold to strategic investors and the remaining 25 per cent through an IPO.

A month ago Nasdaq official met their counterparts in BSE, giving rise to speculation that the technical exchange would pick up a stake in it.
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Jindal to hike stake in JSW Steel
The share allotment committee of directors of JSW Steel, which met today, approved a proposal to issue five lakh Series A Warrants and 15 lakh Series B Warrants to Sajjan Jindal, and 65 lakh Series A Warrants and 65 lakh Series B Warrants to Samarth Holdings.

Each of these warrants are convertible into equity shares at the option of the warrant holders into one equity share of Rs10 each at Rs272 per share.
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