DE Shaw to enter India
Mumbai: the New York-based D E Shaw, which is the world's second-largest hedge fund, is coming to India. Often described as "the most intriguing and mysterious force on Wall Street", will start operations in June this year.

DE Shaw with assets of $17.1 billion is the second largest hedge fund in the world, the biggest being the Westport-based Bridgewater Associates with $17.7 billion in assets. DE Shaw has roped in Anil Chawla, chief executive officer - commercial finance, India & South East Asia, GE.

Chawla joined as an assistant vice-president in GE Capital in April 1996 and was promoted as chief executive officer - commercial finance, India in 1999.

Broker-dealer activities of the D E Shaw group are conducted in the US through D E Shaw Securities, D E Shaw Investments, or D E Shaw Valence, which are registered as broker-dealers with the US Securities and Exchange Commission and are members of the National Association of Securities Dealers.
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FICCI releases paper on share buyback norms
New Delhi: A paper on securities market regulation prepared by industry chamber FICCI and Society of Indian Law Firms says buyback of shares by companies should be exempted from Capital Gains Tax. In the case of buyback of shares, gains are subject to Capital Gains Tax because the transaction is not through the exchange and there is no incidence of Securities Transaction Tax. While the ultimate power for attachment of bank accounts of intermediaries should rest with the Central Board of Direct Taxes only, it is important that strong surveillance mechanism be put in place so that the regulator knows the happenings in advance, according to the paper. The paper adds that the use computers and Internet should be enabled to enhance the efficiency of the disclosure process.
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Godawari Power shares list at 11.41 pc premium
Mumbai: Shares of Godawari Power and Ispat listed on the BSE at a premium of 11.41 per cent at Rs90.25, compared to the issue price of Rs81 per share. On the NSE, the shares were listed at 17 per cent premium at Rs95. The company which manufactures steel rods and pipes, had raised over Rs70 crore through its recent IPO.

The Godawari shares rose to the day's high of Rs136, before closing at Rs103.15, a premium of 27.35 per cent over the issue price on the BSE. On the NSE too, the shares closed at Rs103.15.
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