Hinduja TMT to be included for trade on F&O
New Delhi: The National Stock Exchange (NSE) of India has announced that Hinduja TMT Limited (HTMT) securities will be available for trading in the Futures & Options (F&O) segment with effect from 29th December 2006.

Stocks need to fulfill certain eligibility criteria to be included in the F&O segment including being amongst the top 500 stocks in terms of average daily market capitalisation and average daily traded value in the previous six months on a rolling basis.

HTMT is currently at an advanced stage of a restructuring process, which includes demerger of its IT / ITES undertaking into a separate listed entity and the consolidation of its media and broadband subsidiaries into a single entity.
Back to News Review index page  

MF investors to get unique identification number
Mumbai: Mutual fund investors will get a unique Mutual Fund Identification Number (MIN) for fresh investments above Rs50,000 from January 1 2007 said AP Kurien, chairman, Association of Mutual Funds in India (AMFI), at a press conference.

MIN will be provided by CDSL Ventures Ltd which will maintain the records for investors with investments above Rs50,000 in one mutual fund. An investor will have to submit his photograph, proof of identity, proof of address and PAN Card to obtain MIN.

The number can be used for investing in all funds and an investor is required to obtain the number only once in a lifetime.

MIN will be provided free of cost to all investors and can submit their documents at various Points of Services (POS) which to begin with, will be various branches of mutual funds, registrar offices and offices of the Computer Maintenance Service Corporation.
Back to News Review index page  

Sebi ban on Reliance Broking stayed
Mumbai: The Securities Appellate Tribunal (SAT) has stayed the Securities and Exchange Board of India's (Sebi) order suspending Reliance Share and Stock Broking (RSSB), part of the Anil Ambani-controlled RADAG group, for four months.

The ban was on account of several alleged violations by the company in 1999-2000, including failure to maintain proper books of accounts.

The market regulator had ordered the suspension of the company from January 1 to April 30, 2007, following an order dated December 11, which said RSSB had committed various defaults ranging from failure to issue contract notes at actual transaction price to issuance of manual contract notes in order to pass on artificial prices to clients, relating to a period of 1999-2000.

The stay order came a day before the RADAG group is expected to make a formal announcement about the launch of its discount broking venture Reliance Money (R-Money).
Back to News Review index page