In volatile trade, the BSE benchmark Sensex on Thursday closed 22 points down on investors booking profits in ITC, L&T, HDFC Bank, Tata Motors and RIL shares, cutting short a two-day upmove. The Bombay Stock Exchange 30-share barometer, within few minutes of opening, logged a days high of 19,520.51. However, it later succumbed to bouts of profit-booking to settle 22.08 points, or 0.11%, down at 19,453.92. In the last two sessions, the 30-share Sensex had risen by 231.58 points or 1.2%. Brokers said the market met with hesitancy on profitbooking after the recent upsurge saw Sensex hit two-week high. Experts said global markets appeared worried over the so-called US fiscal cliff issue. Efforts to prevent the fiscal cliff seem to be turning difficult.
Eros International OFS subscribed 4.4 times
The offer for sale (OFS) of Eros International Media received a good response from investors on Thursday, getting subscribed 4.4 times, as per data put up on the National Stock Exchange website. The offer received bids for 1.13 crore share against 25.74 lakh share on offer at a floor price of R200 per share. The indicative price or the volume weighted average price of all the valid bids stood at R202.63 a share. The seller in the issue is promoter Eros Worldwide FZ LLC, which holds 54.15% stake in the company. The promoters diluted their stake to meet the mandatory regulatory requirement of holding a minimum of 25% public float in listed companies. Overall, the promoters of the company held 77.8% stake in the company as of September 2012. The companys shares slid 1.38% to R207.75 on BSE on Thursday.
Sebi gives commencement certificate to MCX-SX
Moving closure to the launch of the countrys newest stock exchange platform, MCX-SX has got the commencement certificate from market regulator Sebi to go live with its trading operations as a full-fledged bourse. The commencement certificate is the final go-ahead from Sebi for MCX Stock Exchange (MCX-SX) to go live in new product segments such as equity, wholesale debt (bonds) and interest rate derivatives, the exchange said in a statement.
SAT sets aside fines on 3 in front-running case
The Securities Appellate Tribunal (SAT) has set aside a Sebi order that slapped a total penalty of about R1.2 crore on three individuals for allegedly engaging in fraudulent trading practices in the stock market. The entities were said to be invloved in front running related to the orders of foreign fund house Citigroup Global Markets Mauritius Pvt Ltd (CGMMPL) in the shares of Aurobindo Pharma, ICICI Bank and State Bank of India.
Govt: Sebi sent 4 warning letters to MFs this year
Market regulator Sebi has issued four warning letters to mutual funds (MFs) for irregularities during this fiscal till November, Parliament was informed on Thursday. A total of 48 warning letters have been issued to MFs regarding violations of norms in the past three fiscal years, minister of state for finance Namo Narain Meena told Rajya Sabha in a written reply. Of these, 30 letters were issued in 2010-11, 14 in 2011-12 and four letters were issued in 2012-13 up to November, the minister said.