BSE makes changes in Mid-cap, Small-cap indices

A total of nine scrips have been included in BSE Mid-cap index replacing 16 outgoing stocks, while 39 scrips will replace 41 shares on the small-cap index. The changes will be effective from 10th October, the exchange said

Mumbai: The Bombay Stock Exchange (BSE) on Monday announced changes in two indices—BSE Mid-cap and Small-cap—which will be effective from 10th October, reports PTI.

A total of nine scrips have been included in BSE Mid-cap index replacing 16 outgoing stocks, while 39 scrips will replace 41 shares on the small-cap index, a BSE release said.

Some of the major firms joining the mid-cap index include—Bajaj Corp, Eros International Media, Lanco Infratech and Jaypee Infratech.

Companies including Bombay Dyeing & Mfg Co, GTL Infrastructure, GTL, Spicejet and Petronet LNG have been excluded from the BSE Mid-cap index.

Dunlop India, Hindustan Organic Chemicals, Kirloskar Electric Company and Birla Power Solutions have been excluded from the BSE Small-cap index.

In the small-cap index, the new firms included IVRCL, Mahindra Lifespace Developers, Simplex Infrastructure, SRS, Usha Martin and Vardhman Textiles are some of the entities included in the index.

In addition, the exchange has revised the list of Group ‘A’, comprising of 200 scrips as part of periodic review.

BSE also said while Hindustan Copper and Opto Circuits have been excluded from BSE TASIS Shariah 50 list, Bata India, Biocon, CESC, Pidilite and VIP Industries would be part of the list now.

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Experts welcome decision to set up expert body on poverty

NAC member Harsh Mander said, “I welcome the assurance that in future, BPL poverty line criteria will be delinked while providing welfare schemes and government incentives.” He, however, added that there should be proper acceptance on adequate requirement of poor people

New Delhi: Welcoming the government’s decision to set up an expert committee to look into poverty estimates, former Union minister and noted economist YK Alagh said the new definition should take into account aspirations of the people, reports PTI.

“New poverty line must talk about aspirations of people.

Today, for the first time they (the government) have given up the Tendulkar Committee’s poverty line. I congratulate both the Planning Commission and the rural development ministry,” Mr Alagh told PTI.

The government, he hoped, would soon develop new concepts keeping in view the requirements of the ‘Aam Admi’.

Some members of Sonia Gandhi-headed National Advisory Council (NAC) also welcomed the government's announcement to set up a committee

Sources close to Aruna Roy, an NAC member, said, “We are happy that the government has given up the Tendulkar poverty line. That is a positive development.”

Another NAC member Harsh Mander said, “I welcome the assurance that in future, BPL poverty line criteria will be delinked while providing welfare schemes and government incentives.”

He, however, added that there should be proper acceptance on adequate requirement of poor people.

Meanwhile, NAC member NC Saxena said the government has taken no any new policy decision.

“Montek Singh issued his clarification today. No new policy decision was taken,” he said.

Highlighting the importance of poverty line, Mr Ahluwalia said the purpose of this is to give an absolute level of living that is able to trace over time whether development was taking people above this level.

“We always historically have the poverty line. We use it to measure whether growth is reaching below the poverty line or not and that monitoring would be done on the basis of poverty line,” he said.

Issue of benefits have never been exclusively linked to the poverty line because there are many benefits that are universal even in the case of Public Distribution System (PDS) at one time PDS was not linked to the poverty line, he added.

It is worth noting that the many benefits under various schemes are not linked to the poverty line. Some benefits at present are universal, e.g., free school education, mid day meals, ICDS and the employment guarantee under the MGNREGA, he said.

The proposed Food Security Bill is not universal but it extends the benefit of highly subsidised food grains to a much larger category than the below poverty line (BPL), that is, 41% instead of around 32%, and further to a general category which goes up to 75% of the rural population and 50% of the urban population.

The government has therefore responded to the need to protect more than the BPL, he said.

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No need now for TRAI to fix telecom tariff: TDSAT

The tribunal’s remarks came on two petitions filed by Telecom Users Group of India and an individual requesting the tribunal to direct TRAI to fix the tariff and to regulate the pre-paid services. According to them, there were several complex tariff structures floated by the service providers and TRAI should rationalise it to a few plans only

New Delhi: With telecom tariff ruling as low as Re1 due to competition in the market, the Telecom Dispute Settlement and Appellate Tribunal (TDSAT) on Monday said there was no need at present for regulator TRAI (Telecom Regulatory Authority of India) to fix tariffs and it should leave this to market forces, reports PTI.

“The consumer groups contend that TRAI should frame tariff. This tribunal is, however, of the opinion that TRAI having prescribed forbearance (operators are free to fix tariffs), no direction at this stage should be issued,” said a TDSAT bench headed by its chairman justice SB Sinha.

TDSAT, however, said that the regulator must take steps to make consumers aware of their rights.

The tribunal also said, “In the event the TRAI determines that there would be only one (tariff) plan, the scope of multiplicity of plans would become non-existent.”

It further said, “We have noticed that the consultative process is over. It is expected that the TRAI would take a decision one way or the other at an early date and possibly within a month or so. Only in the event, certain deficiencies are found out, the question of examining the same by this tribunal would arise,” it added.

The issues raised by consumer groups by and large are covered by the consultation papers and draft regulations circulated by the TRAI and, thus, require no further consideration at this stage.

The tribunal’s remarks came on two petitions filed by Telecom Users Group of India and an individual.

They have requested the tribunal to direct TRAI to fix the tariff and to regulate the pre-paid services. According to them, there were several complex tariff structures floated by the service providers and TRAI should rationalise it to a few plans only.

According to the organisations, TRAI permits 25 tariff plans for each of the operators. VAS (Internet Data) was not regulated by the TRAI and electronic recharge does not have any transparency as the consumers are not informed as to the bill given by them while recharging, they said.

However, it was opposed by TRAI by saying that it was incorrect that it had not been performing its duties in terms of the tariff orders. So far, as latest increase of 20% hike, it has already sought for justifications from the operators, said TRAI.

“So far as a complex tariffs issue is concerned, the numbers of plans are only 27 for GSM operators and 12 for CDMA operators and, thus, it is incorrect to contend that as many as 125 plans are in circulation," TRAI had said.

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