Sebi clears Internet trading
Mumbai: The Securities and Exchange Board of India has cleared the introduction of Internet-based stock trading. The decision has been taken after a circulatory resolution, which was endorsed by four out of five members of the board of Sebi. The matter will be formally discussed at a Sebi meeting on 25 January. The circulatory resolution was sent as the agenda for the meeting was heavy and there were apprehensions that the item may not go through.
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An Asian bourse link-up planned
Mumbai: An Asian network of stock exchanges is being mooted. The originator of the idea is the Singapore exchange. The alliance is expected to enrol exchanges in China, Taiwan, Hong Kong, and India, besides Singapore, and to encourage cross-border listing and trading. A Singapore Exchange official says the proposal could develop into a rival to the Nasdaq as it could generate higher volumes, especially in information technology stocks.
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Rabo India launches debentures
Mumbai: Rabo India Finance has launched a Rs 100-crore non-convertible debenture issue with a three-year tenure. The debentures have been rated P1+ (very strong with relatively higher standing within the category) by Crisil and carry a put/call option at the end of one and two-year periods. The issue is being priced on a book-building basis at an indicative coupon of 10.75 to 11.05 per cent per annum.
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