Motilal Oswal launches MOSt Shares NASDAQ-100 ETF on NSE, BSE

With MOSt Shares Nasdaq 100 listing on BSE and NSE, investors can now trade the ETF’s unit in a single unit lot size, in real-time and during Indian market hours. MOSt Shares Nasdaq 100 joins the global family of Nasdaq-100 Exchange Traded Funds listed across Americas, Europe and Asia

With MOSt Shares Nasdaq 100 listing on BSE and NSE, investors can now trade the ETF's unit in a single unit lot size, in real-time and during Indian market hours. MOSt Shares Nasdaq 100 joins the global family of Nasdaq-100 Exchange Traded Funds listed across Americas, Europe and Asia

Indian asset management comes of age with Motilal Oswal Asset Management becoming India's first AMC to ring the opening bell at the Nasdaq Stock Market on 30 March 2011. The opening bell ringing heralds MOSt Shares NASDAQ 100, India's first US equities based ETF tracking the NASDAQ-100 Index, listing on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today.

The US equities-based ETF provides Indian investors with an exposure to top 100 US and international non-financial securities listed on the Nasdaq Stock Market based on market capitalisation. The Nasdaq-100 index is developed and maintained by the Nasdaq OMX Group, the world's largest exchange company.

With MOSt Shares Nasdaq 100 listing on BSE and NSE, investors can now trade the ETF's unit in a single unit lot size, in real-time and during Indian market hours. MOSt Shares Nasdaq 100 joins the global family of Nasdaq-100 Exchange Traded Funds listed across Americas, Europe and Asia. The ETF is currently Asia's largest Nasdaq-100 Index ETF based on assets under management.

Nitin Rakesh, MD & CEO, Motilal Oswal Asset Management Company said, "We would like to thank our investors, business partners for their tremendous support." Commenting on Motilal Oswal MOSt Shares NASDAQ 100 latest listing, he added, "We are excited about this partnership with NASDAQ OMX. MOSt Shares ETF platform remains committed to opening up new segments of investment products for the market and with MOSt Shares NASDAQ 100 being the latest listing".

Speaking on the occasion, John Jacobs, executive vice president, Nasdaq OMX said, "We are happy to be associated with Motilal Oswal Asset Management Company and the launch of Motilal Oswal MOSt Shares Nasdaq-100 ETF. India is an important global market for us and we see the inception of MOSt Shares Nasdaq 100 as a seminal event which provides Indian investors with access to international and innovative products."

User

Govt liberalises FDI policy to boost inflows

The government has decided to permit issue of equity, under the government route, in import of capital goods/ machinery/ equipment (including second-hand machinery). Besides, norms for overseas investment in production and developments of seeds have been liberalised

New Delhi: Relaxing the rules for foreign direct investment (FDI) in the country, the government today decided to permit the issuance of equity to overseas firms against imported capital goods and machinery, reports PTI.

Furthermore, the norms for overseas investment in production and developments of seeds have been liberalised.

"After stakeholder consultations, the government has now decided to permit issue of equity, under the government route, in... import of capital goods/ machinery/ equipment (including second-hand machinery)," an official statement said.

This measure, which liberalises the conditions for conversion of non-cash items into equity, is expected to significantly boost the prospects for foreign companies doing business in India, it said.

In the agriculture sector, it said that FDI will now be permitted in the development and production of seeds and planting material without the stipulation of having to do so under 'controlled conditions'.

The government made these changes in the third edition of the Consolidated FDI Policy Circular, a ready reckoner on foreign investment-related regulations that was released here today.

"Circular 1 of 2011 third edition of the Consolidated FDI Policy is a part of ongoing efforts of procedure simplification and FDI rationalisation, which will go a long way in inspiring investor confidence," commerce and industry minister Anand Sharma said.

The government has further decided to abolish the condition of prior approval in case of existing joint ventures and technical collaborations in the 'same field'.

"It is expected that this measure will promote the competitiveness of India as an investment destination and be instrumental in attracting higher levels of FDI and technology inflows into the country," it added.

It also said that companies have now been classified into only two categories-'companies owned or controlled by foreign investors' and 'companies owned and controlled by Indian residents'.

The earlier categorisation of 'investing companies', 'operating companies' and 'investing-cum-operating companies' has been done away with, it added.

During the 11-month period between April2010-February 2011, FDI inflows into India declined by 25% to $18.3 billion.

User

COMMENTS

Java

6 years ago

These days one can't help thinking of the hidden agenda of some power player behind such policies which seem fine at first sight. For instance, who would decide on the fair value of the second-hand equipment? Would it be a way to siphon off large share holdings cheaply to a benami foreign entity, controlled by a local neta or industrialist?

Google takes on Facebook

Google will begin allowing users to personally endorse search results and websites-the "+1" button will start to appear alongside Google search results for select users, for recommending specific search results to contacts by a click on that button.

Read Article...

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)