NSE WEEKLY NEWS UPDATE
Sebi sets stage for string of share sales by PSUs

The Securities & Exchange Board of India (Sebi) on Thursday sought to breathe fresh life into the stock markets through a series of steps, including a mandatory 25% public holding in state-run companies and a 10% reservation for retail investors in share sales through the exchanges. Sebi chairman UK Sinha said 36 companies will have to come to the market to comply with the new guidelines. Over the next three years, the government will have to pare its stake in several PSU including Coal India, SAIL, Nalco and National Mineral Development Corporation. There are others such as IndianOil and Bharat Electronics where the holding is a little above 75% and a minor dilution is required. Over the last few years the market regulator had got the government to comply with the mandatory 10% public holding requirement in several companies such as MMTC.
Sebi unveils reform measures; PSUs need 25% public shareholding

Initiating a wide range of measures, Sebi on Thursday asked all listed PSUs to ensure at least 25% public shareholding within three years and unveiled new norms for research analysts, employee stock option schemes as well as reforms to boost the primary market. Besides, the capital market watchdog has decided to share Know Your Client (KYC) information with entities regulated by other financial sector watchdogs, a move aimed at having common norms across the financial market. Approving a slew of reform measures, the Sebi board said that all listed PSUs should achieve a minimum public shareholding of 25% within three years.
Sebi set to tweak norms for ESOPs

The Securities and Exchange Board of India (Sebi) is all set to announce a new set of ESOP regulations including purchase of shares by employee welfare trusts from the secondary market with adequate safeguards. The Primary Market Advisory Committee of Sebi has suggested some changes and the market regulator had sought public comments on the recommendations. The proposed regulations shall be applicable to Employee Stock Options Scheme and Employee Stock Purchase Scheme, generally called ESOP guidelines, as well as on other general employee benefit schemes like in the case of accident, sickness, disability, death and scholarship funds.
Tata Motors plans to issue fresh ADRs

Automotive major Tata Motors is considering a sponsored American Depository Receipts (ADR) issue after large shareholders with differential voting rights (DVRs) sought an exit through the US bourses. At least two influential hedge funds and activist shareholders approached the Tata Group flagship citing that the DVRs quoted at a massive discount, not proportionate to the one-tenth voting rights it carried.

SAP Labs India MD quits, sparks rumours of joining Infosys

SAP Labs India managing director Anirban Dey quit the company on Wednesday, and set off immediate speculation that he may be heading to Infosys.

China's FDI inflows decline by 6.7% in May

Foreign direct investment into China fell 6.7 per cent year-on-year to $8.6 billion in May amid a steady drop in inflows from the US, European Union and Japan. FDI into China's service sector rose 19.5 per cent year-on-year to $27.5 billion accounting for 56.2 per cent of the total, while that into the manufacturing sector dropped 16.5 per cent to $17.4 billion.

Tata Power crosses 500MW renewable energy capacity

Tata Power recently crossed the milestone of 500MW renewable energy capacity with the commissioning of solar plant at Palaswadi in Maharashtra. Tata Power has a total operating capacity of 460.6MW from wind farms and 54MW in solar generation. In addition the Company has 447 of hydro and 202.5MW from waste gas based generation.

GMR Infra led consortium wins Rs 389 crore rail contracts

GMR Infrastructure Limited on Monday informed that a consortium led by the company has won three construction packages of rail line doubling of multi modal transport system (MMTS) - Phase II works in Secunderabad division of South Central Railway. Rail Vikas Nigam Limited has also issued the letter of award to the GMR consortium in this regard, GMR informed the bourses.

Dena Bank targets 20% business growth in FY 2014-15

One of the leading banks in India, Dena Bank, is targeting a growth of 20 percent during FY 2014-15 and plans to open 150-200 new branches during the financial year. Ashwani Kumar, chairman and managing director (CMD), Dena Bank recently visited the city and announced growth and expansion plans of the bank in FY 2014-15.

DLF becomes India's first realty firm to get ISO certification

Realty giant DLF said on Monday it has become the country's first real estate developer to get ISO 9001:2008 quality certification for development of housing and commercial projects. "DLF Home Developers Ltd, a part of DLF, has received ISO 9001:2008 certification after meeting the stringent guidelines set out by British Standard Institute (BSI), an accredited business standards company," DLF, the country's largest real estate firm, said in a statement.

RBI to sell govt securities worth Rs 15,000 crore

The Reserve Bank will sell dated government securities worth Rs 15,000 crore in four tranches on Friday, RBI said. Dated government securities are long term securities carrying a fixed or floating coupon or interest rate paid on the face value. It is payable at fixed time periods, usually half-yearly. The tenor of dated securities can be up to 30 years. In a price based auction to be held on June 20, RBI will sell 8.35 per cent government stock 2022 for Rs 3,000 crore, 8.60 per cent government stock 2028 for Rs 7,000 crore, 9.20 per cent government stock 2030 for Rs 3,000 crore and 9.23 per cent government stock 2043 for Rs 2,000 crore.

India's forex reserves up by $203 million

India's foreign exchange (forex) reserves increased by $203.2 million to $312.58 billion for the week ended June 6, led by a sharp rise in overseas currency assets, Reserve Bank of India (RBI) data showed.

Bank of India to raise Rs 4,000 crore via equity route

Bank of India is the latest lender to join the ranks of those lining up to raise equity capital. The bank is seeking permission from its shareholder to issue up to 14 crore shares, which at current market price is worth over Rs 4,000 crore. The shares would be issued either by way of qualified institutional placement (QIP), public issue, rights issue, or private placement, the bank said. The bank has also said that it would raise an additional Rs 5,745 crore by issuing debt in the form of debentures, subordinated debt or perpetual debt.

LIC to buy additional stake in Central Bank of India for Rs 540 crore

State-owned Central Bank of India proposes to raise an estimated Rs 540 crore by selling stake on preferential basis to Life Insurance Corporation (LIC). The board approved raising of additional capital by issuance and allotment of, up to 7,10,75,753 equity shares of the face value of Rs 10 each to Life Insurance Corporation of India on preferential basis, Central Bank of India said in a BSE filing.

PFC gets shareholders' nod for raising up to Rs 44,000 cr

State-owned Power Finance Corp has received shareholders' approval for raising up to Rs 44,000 crore through issue of securities in the current financial year. PFC is a leading lender to the power sector. Shareholders have voted in favour of the fund raising plan along with proposal to enhance the borrowing power of the company, according to a regulatory filing made by PFC today.




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