CNX100 and Nifty Junior join F&O
Mumbai: The broadbased CNX100 and Nifty Junior indices debuted in the futures and options (F&O) segment on Friday and clocked a turnover of about Rs237 crore. Nifty Junior saw a turnover of Rs144 crore, while volumes in CNX100 were at Rs93 crore.

Analysts said it was a slow start.

F&O in Nifty, launched in June 2000, clocks a turnover of nearly Rs15,000 crore daily.

To encourage active participation in the introductory phase, the exchange has exempted transaction charges on turnover of above Rs10 crore in Nifty Junior and above Rs10 crore in CNX100 per trading member per day. No transaction charge will be levied on trades done in Nifty Junior and CNX100 in the options sub-segment, a NSE release said.

The OI in Nifty Junior was about 3,726 contracts (93,150 units) and about 4,060 contracts (1,32,300 units) in CNX100. Over 60 per cent of the OI in both the products are futures contracts, indicating more interest among market participants.
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Gujarat NRE Coke's Australian business to float IPO
Kolkata: Shareholders of Gujarat NRE Coke's Australian flagship company, India NRE Minerals will be listed on the Australian Securities Exchange (ASX) shortly.

India NRE Minerals Ltd (INML) seeks to raise A$ 15 million in an initial public offering (IPO) with a right to retain over subscription to the tune of A$ 10 million. Proceeds from the issue will go towards augmenting the production capacity of the INML-owned NRE No 1 Colliery located in the Southern Coalfields of New South Wales, Australia.

Arun Kumar Jagatramka, vice-chairman & managing director of Gujarat NRE Coke said the company has arranged for firm allotment for its Indian shareholders in the INML issue. The placement price has been pegged at A$ 0.50 per share. It is hoped that 50 per cent of the subscription to the total securities on offer would be from existing Indian shareholders of Gujarat NRE Coke.
INML, which owns and operates the NRE No 1 Colliery in Southern Coalfields of New South Wales, Australia, was acquired by GNCL in December 2004 for A$ 10 million. Post-acquisition, GNCL invested an additional amount of A$ 90 million into the company.
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