After a surveillance review, leading bourse National Stock Exchange (NSE) has identified 14 scrips, including Reliance MediaWorks and BAG Films and Media, for the restricted trading category. In a circular, the exchange has said it would shift the stocks to the trade-to-trade segment with effect from December 7. In this segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory. The move is part of the preventive surveillance measures taken by the bourse to ensure market safety and to safeguard the interest of investors.
UTI MF in distribution tie-up with OBC
UTI MF and Oriental Bank of Commerce have entered into a tie-up for distribution of UTI MF schemes. Under the agreement, Oriental Bank of Commerce will offer the entire bouquet of UTI MF's schemes through its 1,900 branches pan India. This tie-up will enable UTI MF to offer itscomprehensive range of mutual fund products to a wider segment of the society. As many as 18.25 million customers ofOBC will get an opportunity to invest in the schemes of UTI MF at the branches where they do their banking transactions," said Imtaiyazur Rahman, acting CEO, UTI Asset Management Company.
No specific input on terror funds: Govt
The government on Wednesday said it has not received any specific input that terrorists are investing money in the stock markets. Minister of state for home RPN Singh, however, said the suspicious transaction reports received from securities market intermediaries suspected to be linked to financing of terrorism is a subject to detailed assessment and examination by central intelligence and investigation agencies.
Veto Switchgears & Cables IPO subscribed 1.56 times
The SME IPO of Veto Switchgears and Cables was subscribed 1.56 times with applications for 81,03,000 equity shares of face value of R10 on Wednesday. The QIB portion was subscribed 1.05times with applications for 11,43,000 equity shares, non-institutional investors segment1.47times with applications for 38,13,000 equity shares, retail individual investors2.06times with applications for 31,47,000 equity shares.