Two telecom lines fail to protect world’s top derivative bourse

By Nupur Acharya and Siddhartha Singh Less than an hour into trading in India’s $2.7 trillion stock market on Wednesday, dealers saw index levels on the National Stock Exchange’s cash segment had stopped updating. By 11:40 a.m., the world’s biggest derivatives bourse halted trading in all segments. The incident prompted the markets regulator to ask […]

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ETMarkets Explains: What happened at NSE today and how it impacted traders

NEW DELHI: NSE, India’s largest exchange by trading volume, suffered a major technology glitch on Wednesday, which left traders scrambling to square off open positions, resulting in losses for many. Many small traders complained of having suffered big losses. What baffled traders and dealers was that it was a small issue and the exchange went […]

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When tech glitch made brokers revolt, seek more trading time

MUMBAI: A telecoms outage shut all trading on India’s National Stock Exchange for nearly four hours on Wednesday, leaving investors in the dark ahead of a monthly derivative contract expiry and forcing bourses to extend trading hours after it reopened. The NSE, headquartered in India’s financial capital Mumbai, is the world’s largest derivatives bourse by […]

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Blackstone-owned auto parts firm Sona Comstar set for Rs 6,000-cr IPO

Mumbai: Sona Comstar, leading Indian auto component maker owned by PE fund Blackstone Group Inc, is set to raise about Rs6000 crore ($825 mn) through an initial public offer (IPO). A DRHP (draft red herring prospectus) will be filed with regulators this week, possibly as early as Tuesday, said multiple people aware of the development. […]

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Unlisted companies to see significant reduction in compliance burden from FY22

The compliance burden on unlisted Indian companies is set to get lighter as the government relaxed the rules governing such firms which are listed overseas or have listed debt securities. In an amendment to the Companies (Specification of definitions details) Rules on Friday, the ministry of corporate affairs (MCA) allowed certain classes of unlisted companies […]

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V-Marc India files for Rs 30 crore SME IPO; shares to be listed on NSE Emerge

NEW DELHI: V-Marc India, a wires and cables manufacturer, has filed documents with the market regulator Sebi for an SME IPO of up to 68,40,000 equity shares of face value Rs 10 each. The proposed equity shares of the Haridwar-based company will be listed on the Emerge platform of NSE. Sources said the company is […]

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Sebi board approves easing of IPO norms for large companies

MUMBAI: The Securities and Exchange Board of India today said that its board has decided to recommend changes in the Securities Contracts Regulations 1957 to make it easier for large companies with market capitalisation of more than Rs 1 lakh crore to list on the Indian stock exchange. The board has decided to lower the […]

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Axis Bank, promoter United India Insurance settle non-disclosure case with Sebi

Mumbai: has paid Rs 41.4 lakh to Sebi to settle its case of non-disclosure of information relating to offloading of the bank’s shares by its promoter United India Insurance Company(UIIC). The non-life insurer also paid Rs 10.1 lakh to the regulator to settle the same case. Sebi said it noted in the investigation that during […]

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