Earlier this month, Coal India had replaced another Anil Ambani Group firm Reliance Infrastructure on the BSE’s blue chip index Sensex
Mumbai: State-run Coal India (CIL) will replace Anil Ambani Group firm Reliance Capital in the National Stock Exchange’s (NSE) Nifty index from 10th October, reports PTI.
Earlier this month, Coal India had replaced another Anil Ambani Group firm Reliance Infrastructure on the Bombay Stock Exchange’s (BSE) blue chip index Sensex.
Shares of Coal India have been doing well since the company was listed in November last year and has become the third most valued firm after Reliance Industries and ONGC.
Apart from S&P CNX Nifty Index, there would be changes in CNX Nifty Junior Index, CNX 100 Index, S&P CNX 500 Index, CNX Midcap Index and sectoral indices among others.
The changes were announced on Thursday by India Index Services & Products (IISL), a joint venture between NSE and Crisil for managing Nifty.
Also, four other companies Bosch, Dabur India, Idea Cellular and Reliance Capital would be making their entry into CNX Nifty Junior Index from 10th October.
Entities that would move out of this index include Coal India, Patni Computer Systems, Punj Lloyd and Syndicate Bank.
The decision to revise constituents of various NSE indices was taken by the Index Committee of the Exchange during its periodic review.
Meanwhile, BSE also announced launch of futures and options (F&O) trading in Coal India with effect from 26th August.
BSE said in a circular that it has received approval from market regulator Securities and Exchange Board of India (SEBI) for introduction of F&O contract on Coal India.
Subsequently, F&O contracts of Coal India would start trading on BSE with effect from 26th August.
“The stock brokers and sub-brokers shall take adequate steps for redressal of grievances within one month from the date of receipt of the complaint. Failure to comply with the said requirement will render the stock broker liable for penal action,” SEBI said in a circular issued on Thursday
Mumbai: Capital markets regulator Securities and Exchange Board of India (SEBI) on Thursday directed stock brokers and sub-brokers to redress investor complaints within a month of receiving them, saying that failure to do so would make them liable for penal action, reports PTI.
The direction comes a day after it announced that all investor complaints should be forwarded to it electronically through recently established, centralised database system, SEBI Complaints Redressal System (SCORES).
SCORES was operationalised in June to fast track the redressal of complaints against listed companies.
In a circular issued yesterday, SEBI said that it will also use SCORES to pursue grievances against stock brokers and sub-brokers with the concerned stock exchanges.
“The stock brokers and sub-brokers shall take adequate steps for redressal of grievances within one month from the date of receipt of the complaint and keep the investor/stock exchange(s) duly informed of the action taken thereon,” it said.
The regulator added: “Failure to comply with the said requirement will render the stock broker liable for penal action.”
It also asked stock exchanges to put in place a suitable mechanism to follow up with the stock brokers and sub-brokers on complaints redressal and devise a system to levy penalty on its members for any non-compliance with the requirements.
“... investor grievances received by SEBI against stock brokers and sub-brokers will be taken up electronically with the concerned stock exchange(s) through SCORES. The stock exchange(s) shall, in turn, take up the matter with the concerned stock brokers/sub brokers,” SEBI said.
It has asked the exchanges to update the status of the complaints in SCORES at every stage, along with supporting documents.
SEBI has asked stock exchanges to make necessary changes in their rules and regulations to comply with the latest direction and send feedback on its implementation on a monthly basis.
Market intermediaries can view the complaints in the SCORES system by logging in with their user ID and password, which will be communicated separately by the regulator. SEBI will also send a daily alert on pending complaints at the e-mail ID registered with it for regulatory communications.
SCORES facilitates online movement of complaints to the concerned listed companies by enabling online upload of ATRs by these companies.
A motion will be brought to facilitate a combined discussion on the different versions of the Lokpal Bill. The discussion will be held under Rule 184 which entails voting, sources said last night
New Delhi: Going the extra mile to meet social activist Anna Hazare’s major demand, the government will have a discussion in the Lok Sabha (lower house of Parliament) on Friday about the various versions of the Lokpal (anti-corruption) Bill, including the one brought out by Team Anna, reports PTI.
The discussion will be held under Rule 184 which entails voting, sources said last night.
A motion will be brought to facilitate a combined discussion on the Lokpal Bill, the Jan Lokpal Bill brought out by Anna Hazare as also the drafts prepared by activist Aruna Roy and Jai Prakash Narain, sources said.
While the exact wording of the motion is not immediately known, sources said the discussion could take place on the Jan Lokpal Bill in the shape of a ‘document’ and its salient features, after which the records of the debate are expected to be sent to the Parliamentary Standing Committee examining the Lokpal Bill.
A decision in this regard was reached during hectic parleys within the government and discussions held by finance minister Pranab Mukherjee with parliamentary affairs minister Pawan Bansal and law minister Salman Khurshid.