Speed-up signal for bourses
New Delhi, Sept. 4: The Securities and Exchange Board of India is likely to derecognise several stock exchanges across the country if they fail to separate ownership and trading rights of their members by tomorrow. The market regulator had fixed September 5 as the last date for the bourses to get approval of their demutualisation scheme at their respective extraordinary general body meetings, official sources said here today. However, more than six exchanges of the 21 bourses are yet to firm up the demutualisation and corporatisation plans.
Mumbai, Sept. 4: With Sebi putting its surveillance system on “high alert” in the booming market, the Bomaby Stock Exchange (BSE) today asked investors to exercise caution while trading in illiquid stocks and warned listed companies found defrauding investors of strong action including suspension.
Chennai, Sept. 4: Gestetner India Ltd, a document solutions company, is planning to tap the corporate sector in a big way to ensure that in the next two to three years at least 50 per cent of its sales comes from the big corporate houses, a top executive of the company said today.
Mumbai, Sept. 4: Rating agency Crisil said today the trend of upgrades for manufacturing companies outnumbering downgrades will continue in the current fiscal despite the projected drop in industrial sector growth rate to 5 per cent.