SEC bestows global custodian status on Stock Holding Corporaton
Stock Holding Corporation of India (SHCIL), the country's largest share custodian, has received a global custodian status from US-based Securities and Exchange Commission (SEC). The clearance from the US regulator was received last week and has paved the way for SHCIL which manages assets in excess of Rs 80,000 crore to solicit business directly from foreign institutional investors (FII).
CARE assigns AAA for ICICI bonds
The Credit Analysis & Research (CARE) has assigned a Triple-A rating to the Rs 800 crore unsecured bonds programme of the Industrial Credit and Investment Corporation of India (ICICI). The rating indicates that the instrument is of the best quality, carrying negligible investment risk.
BOLT expansion spurs rise in Mumbai bourse's delivery-based turnover
The percentage of delivery-based trades has shown a marked uptrend on the Bombay Stock Exchange (BSE) ever since it spread to other centres of the country. The percentage of delivery to the total turnover per settlement has averaged about 11% in the last 19 settlements, beginning September 5, which also marked the nationwide expansion of the BOLT network.
RIL: Time to exit
The break down in Reliance scrip comes quite unexpected. The scrip moved down from Rs 156.30 to Rs 150.40 for a low and closed at Rs 152.40. The support line of Rs 156 failed to hold. With today's steep fall, one is forced to look at Rs 147 for a bounce back. Technically while Rs 156 was a support, there was a faint formation of an inverse saucer.
BSE clearing house to buy out auctioned bad paper
The Bombay Stock Exchange (BSE) has decided to revise the procedure to be followed in case a bad delivery lying with BoI Shareholding, its clearing house. The shares identified by the exchange as bad paper will henceforth be immediately auctioned and bought by the clearing house.The step has been mooted to avoid the delay of two weeks in the auction proceeds and the bills submitted by the buyer to the exchange's clearing house.
Market discounts tractor-sector slowdown
Shares of tractor companies, the blue-eyed wonders of the domestic stock markets not so long ago, have witnessed a major market revaluation over the last couple of months. One only has to look at the stock prices of companies like Escorts, Eicher and Mahindra & Mahindra (M&M) to come to the conclusion.
