BSE to shift 29 scrips to T group category for failure to comply with demat norms

According to a BSE notification, these firms have not achieved 50% public shareholding in dematerialised or demat form as per “the shareholding pattern submitted by the companies for the quarter ended March 2013, or have not submitted the shareholding pattern

 
The Bombay Stock Exchange (BSE) has imposed restrictions on trading of 29 stocks for failing to convert at least half of the public shareholding into dematerialised format.     
 
The bourse would shift these scrips to the trade-to-trade segment or ‘T’ group category with effect from 23 May 2013.     
 
According to a BSE notification, these firms have not achieved 50% public shareholding in dematerialised or demat form as per “the shareholding pattern submitted by the companies for the quarter ended March 2013, or have not submitted the shareholding pattern, or submitted incorrect shareholding pattern for the quarter ended March 2013”.     
 
As per Securities and Exchange Board of India (SEBI) norms, shares of all listed companies having less than 50% public holding in demat form need to be traded only in the “Trade-for-Trade” segment of the exchanges.     
 
In the trade-to-trade segment, no speculative trading is allowed and delivery of shares and payment of consideration amount are mandatory.     
 
The stocks which would be shifted to the segment include Aadhaar Ventures India, Avon Corporation, Shree Krishna Paper Mills & Industries and SR Industries.     
 
Moreover, the exchange said as many as 409 scrips will continue to remain in ‘T’ group since they have not complied with the demat criteria.     
 
These companies include Count N Denier (India), Filmcity Media, Hindustan Housing Company and Sunday Exports.     
 
“The companies will remain in ‘T’ group till the next quarterly review,” BSE said.     
 
Besides, BSE has retained 481 stocks in the ‘T’ group “for reasons other than demat criteria”. However, the bourse would move 42 stocks out of the ‘T’ group to normal settlement mode from 23rd May, as they have achieved at least 50% public holding in demat form.     
 
Companies such as Cochin Malabar Estates & Industries, Regency Trust, Precision Electronics, Gujarat Sidhee Cement would be shifted to the normal trade category.     
 
On the NSE, while 14 scrips would remain in the restricted segment for non-compliance with demat norms, stocks of two companies would be shifted to normal trading segment from 23rd May.
 

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COMMENTS

Fairy gada

4 years ago

thank you for d news. can u pls tell me where can i get the whole list of these scrips?

Sun TV Networks announces 11% jump in its net profit

The company has reported steady ad revenues as well as increase in DTH subscribers. It has also reported decent net profit and net sales

Sun T V Networks, a south India based media and broadcasting company, has reported Rs472.67 crore net sales for the quarter ended March 2013, up 11% year-on-year (y-o-y) when compared to Rs427.01 crore for the corresponding quarter last year. It reported 6% y-o-y jump in operating profit at Rs348.57 crore. Meanwhile, its net profit increased 11% y-o-y to Rs177.5 crore.

According to the Moneylife database, the latest sales figure growth is better than its three-quarter average y-o-y growth rate of 7%, while operating profit grew at 6% y-o-y which is also higher than the paltry 2% average. The company’s return on net worth and return on capital employed are pegged at 26% and 27% respectively. The company’s market capitalisation is valued at nearly 12 times its operating profit.
Sun TV has maintained its advertising momentum as advertising revenues went up 15% during the quarter ended March 2013, at Rs269.40 crore. Direct-to-home (DTH) subscription revenues were up 16% on a quarter-on-quarter basis and 12% on a y-o-y basis. FM radio operations posted a strong turnaround with revenues increasing by 26% y-o-y.

According to the company, the weekday prime time advertisement rates on its flagship channel, Sun TV, are being increased with effect from 15 July 2013. These are hiked at an average of 19% and consequently the telecasts fees from producers will also be hiked proportionally.


Additionally, Sun TV has issued a notice to the Bombay Stock Exchange (BSE), notifying the exchange of its IPO proceeds, as per clause 43 of the listing agreement. It said, “Against the total projected utilisation of Rs572 crore (net of issue expenses) from the initial public offering (IPO) funds, an amount of Rs355.77 crore has been utilised towards capitalisation of subsidiaries, Rs136.23 crore towards launch of new channels and purchase of new equipment and up-gradation of existing equipment and Rs62.34 crore towards construction of owned corporate office. The balance proceeds from the IPO after meeting IPO expenses, pending utilisation have been invested in fixed deposits with banks.”


The board of directors has recommended a dividend of 40% i.e. Rs2 per equity share of face value Rs5 each. The final dividend claims for 2012 stood at 190%.

The stock is currently quoting at Rs429 on the Bombay Stock Exchange (BSE).

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VVIP cremation: Some birds are more equal...

Delhi is also famous as a cremation ground and subsequent memorial places for top political leaders. However, there exists a semi-VIP class in the capital, created by the babus at the crematorium ground for themselves and other privileged people

On Thursday, the Union Cabinet gave its nod to construct a “Rashtriya Smriti” at the Samadhis Complex near Ekta Sthal in New Delhi. This would be used as a place to perform last rites of departed national leaders like presidents, vice presidents, prime ministers and other leaders decided by the Cabinet. While this may take care of the VVIPs in and around the capital, the babus and other powerful people in Delhi have already created some special semi-VIP cremation spots. But more about it later.

The Cabinet's idea behind this project was to save land, which might be claimed by the followers of the departed leader to build a samadhi or memorial. The original decision not to develop any memorial was taken by the Cabinet in 2000. In the past, separate memorials for departed national leaders were created near Rajghat, which left hardly any place for cremation of new VIPs.
 
The government has run out of space to be used as a cremation ground for VIPs. (This scarcity of land is not limited to Delhi, though. Mumbai, the island city, also faces similar problem.) Second reason behind the idea was the growing pressure for sparing these VIPs from embarrassment of common people in death as well.

Besides providing cremation space to VIPs, the Rashtriya Smriti would also be used for public gathering during the last rites.

While the netas would continue to receive VIP treatment even after their death, the rich and affluent from Delhi have big ambitions in this area as well. And they received support from ever willing babus and authorities from Delhi as well.

Noted Right to Information (RTI) activist Subhash Chandra Agrawal, has been trying to bring attention towards the discrimination between common and the powerful people at funeral pyres at Nigambodh Ghat, on the bank of the river Yamuna, in Delhi. In one of his RTI applications, he alleged, “It has become a usual practice to mint money by developing and encouraging semi-VIP culture of cremation at Nigambodh Ghat Cremation Ground. Earlier also, when the matter reached before CIC they removed grills around a platform, which was known as semi-VIP platform. Now again there is a similar case of allowing the sort of semi-VIP cremation, which again the public authority is now promising to remove and give a commitment for not repeating the same in future.”

While giving a decision in on this RTI application on 23 September 2011, the then Central Information Commissioner Shailesh Gandhi, had said, “... (the) information now appears to have been provided to the complainant but it is distress that it required a vigilant citizen's constant attention to ensure that corrupt practices are not allowed to continue even in the cremation ground.”

Before March 2003, the Municipal Corporation of Delhi (MCD) was responsible for the working of the Nigambodh Ghat. Later the MCD entered into public-private partnership (PPP) with Arya Samaj at Lodhi Road. Following an inspection, the Lt Governor of Delhi ordered that the Delhi Development Authority (DDA) would carry out development work at the Nigambodh Ghat. Subsequently the DDA erected iron grills around three pyres that were being used for the semi-VIPs.

In a letter on 3 August 2008, the Arya Samaj at Lodhi Road stated that since at times the VIP platform in the crematorium is not empty, the DDA has constructed some platforms and around the platform of three pyres, a grill has been erected for the cremation of privileged persons for cremating semi-VIP bodies.

Surprisingly, the DDA in an RTI reply provided to Mr Agrawal on 1 July 2007 had mentioned, “no grills/ railings were provided by DDA on any pyre platform at Nigambodh Ghat”.

While hearing the matter on 4 August 2010, Mr Gandhi, the then CIC, said, “The Commission was not aware of the categorization and discrimination between ordinary citizens, VIP and the special category of semi-VIPs in crematoriums and wonder where the promise of equity to all citizens has disappeared.

In a democracy that proclaims equality amongst all human beings, the existence of such a practice encouraged by any public authority would be a matter of great shame. Looking at the creation of separate class in death, one can unfortunately say, “All animals are equal, but some animals are more equal than others...”

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COMMENTS

Sethi

4 years ago

Even in death , the Manmohan Singh Government has created a class divide . A crying shame . In a democracy everybody is supposed to be equal but where is the equality ? I wonder what Gandhiji would have said to this news if he were around today .

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