The move comes in the wake of specific directive from the SEBI to start KRAs
The National Stock Exchange (NSE) has launched a know-your-customer registration agency (KRA) through its subsidiary Dotex International.
The move comes in the wake of specific directive from the Securities and Exchange Board of India to start KRAs. "Brokers who have been working with us had approached us to provide them with this additional service, as it will be convenient for them. So, NSE has decided to offer this facility through Dotex," NSE said in a statement.
The initiative by SEBI will benefit investors, as their paper work will be reduced and they have the option of going to another intermediary, without repeating the know your customer (KYC) formalities.
An investor will not have to repeat the KYC, if he has done it through either a broker or a depository participant, or with an asset management company, to invest in a mutual fund.
Tata Megapixel offers a range of up to 900 km with a single tank of fuel
On Tuesday, Tata Motors presented at the 82nd Geneva Motor Show the Tata Megapixel, a new four-seater city-smart global range extended electric vehicle (REEV) concept for the performance-seeking and environment-conscious motorist anywhere in the world. Combining a lithium ion phosphate battery and an on-board petrol engine generator for recharging on the move, the Tata Megapixel offers a range of up to 900 km (with a single tank of fuel), CO2 emission of just 22 gm/km and fuel economy of 100 km/litre (under battery only power).
The class-leading ‘Zero Turn’ drive system of the Tata Pixel (shown at the 2011 Geneva Motor Show) has been taken to an even higher level of manoeuvrability in the Tata Megapixel. The car’s electric drive has four independent electric motors, one at each wheel. When parking, the electric hub motors drive the wheels in opposite directions, while the front wheels are turned at an acute angle, enabling a 2.8 metre turning radius. The at-home charging system is an as innovative induction charging system. The car has simply to be parked over the induction pad for charging to begin.
The integrated lamp and grille graphics sweep back over the front wheel arches to render a dynamic front end. A double-sliding door system and the car’s B-pillar less design make entry/exit easy, besides superb visibility. The battery layout and hub motors maximise the interior package. So, the Tata Megapixel comfortably accommodates four adults with luggage. The front seats are cantilevered on the central tunnel, releasing floor space for additional storage.Light leather trims and rose metal details accentuate the joyous marriage of richness of tradition and innovativeness of technology.
What will market do after the Holi holiday of Thursday? The odds of it ending positive is very as per our analysis of over 89 exchange holidays since 2006
Markets have been declining for the past few days. What will it do on Friday after a break of a day on account of Holi? For this we turned towards what the market did after a holiday. We investigated exchange holidays, which fell during weekdays, by looking at data for the last six years, from 2006. As many as 89 data points were collected and analysed. We looked at the index closing the day before the exchange holiday and the returns after the exchange holiday. We came up with the following:
Over 89 exchange holidays were recorded from 2006; we found out that the Sensex ended positively 58 times out of 89 times; in other words, the Sensex was positive 65% of the time the day after the holiday. However, over the last 25 such occurrences, we found out that the markets ended up with a slightly higher probability of 68% (17 times out of 25), while the last 15 occurrences showed an even higher probability at 73% (11 times out of 15). Based on a small sample of data, this is quite significant.
We also analysed each year in isolation and came up with the following chart.
You will notice that every year has seen the probability of the markets opening on the upside more than 50% of the time, with the worst year being 2008 (50%). Incidentally, the maximum exchange holidays (18) was recorded in 2009 which also had the highest probability at 78%. Last year (2011), the markets closed up 10 times out of 15 while the year before last (2010) it closed up seven times out of 11.
Will the Festival of Colours bring cheers to the market on Friday? Since 2006, data indicates that the probabilities are better than the coin toss. In 2012, so far we’ve had two exchange holidays (out of the total of 15) and in both the cases, the markets reacted positively. The last four occurrences of Holi that fell on weekdays (the remaining two instances fell on a weekend and thus were excluded from our study), the markets responded positively on all the instances. The markets will hope that the festival will spray them with the colour they need—green.