BSE adds Rel MF's liquid schemes to its MF trading platform

Mumbai, Jan 8 : The Bombay Stock Exchange, the Asia's oldest bourse, today said it has added the liquid schemes of Reliance Mutual Fund to the slew of schemes offered through the exchange's mutual fund trading platform that was launched last month.

BSE's StAR MF has added liquid schemes of Reliance MutualFund to its slew of schemes offered through its mutual fundtrading platform, the exchange said in a statement.

"This introduction would provide an additional option tothe retail investors, institutions and other mutual fundparticipants to park their overnight surplus funds and earnhigher interest," it said.

Liquid schemes run by AMCs (asset management companies) usually invest in money market and other permissible debtinstruments.

For all transactions in liquid schemes through the StARMF platform, the subscription units will be computed on thebasis of the NAV of the previous day to the one on which thefunds are received by the AMC from the exchange.

"I am confident that this additional avenue made availablethrough the exchange platform would find favour with severalinvestors, broking community and corporates," BSE's MD & CEOMadhu Kannan said.

"Gradually more and more enhancements to the BSE StAR MFplatform would be made for the convenience of the investors,the industry and the market at large," he added.

BSE's StAR MF was launched on December 4 lasy year with 7AMCs and over 300 scheme options.

JSW Steel production rises 88 pc in Q3

Mumbai, Jan 5 : JSW Steel, the country's largestprivate sector steel maker by domestic capacity, today saidits production rose 88 per cent to 14.69 lakh tonnes in thethird quarter of the current fiscal.

The company's crude steel production during thenine-month period ended December 31, 2009 was 43.9 lakhtonnes, up 59 per cent over the corresponding period lastyear.

During the December quarter last fiscal, the company'scrude steel production was at 7.82 lakh tonnes, JSW Steel saidin a statement to the Bombay Stock Exchange.

Production of flat-rolled items, used by the auto andconsumer durables industry, surged 51 per cent to 9.41 lakhtonnes in October-December quarter compared with the sameperiod last fiscal.

Production of long-rolled steel products, primarilyconsumed by the construction sector, also surged by 199 percent to 2.37 lakh tonnes in the latest quarter compared withthe same period a year ago.

JSW Steel, which belongs to the JSW Group, is one thelowest cost steel producers in the world.

Shares of JSW Steel were trading at Rs 1,117.20, up 9.18per cent in late afternoon trade on the BSE

NSE successfully completes live trading from alternate site

New Delhi, Jan 12 : The National Stock Exchange today said it completed a full-day live trading from its businesscontinuity site sucessfully on Monday.

The Bussiness Continuity Plan (BCP) site, located inChennai, is an alternative for the exchange's main serversituated in Mumbai, an NSE official explained.

The NSE has put in place the new arrangement to tacklebreakdowns due a natural calamity like earthquake and cyclone, the official said.

A NSE statement said the exchange completed tradingoperation from the BCP site during the day and then restoredback to the primary site in Mumbai.

During yesterday's trading all markets like capitalmarket, equity derivatives, whole sale debt market, mutualfunds, IPOs and currency derivatives were operational from theBCP site, the NSE said.

"Our IP network has been engineered for operation fromeither of our two sites and our members can connect to eitherof the two sites with great ease," it said.

NSE processed more than 75 million orders messages andexecuted more than 8 million trades from its BCP site, whichincludes a record number of trades in currency derivativessegment amounting to 4.3 million contracts equivalent to USD4.3 billion.

NSE gets award for energy conservation efforts

Mumbai, Jan 11 : The National Stock Exchange todaysaid it has bagged the first prize in the High Tension Commercial segment by Tata Power for measures taken in the field of energy conservation.

"The NSE has bagged the first prize in the H T Commercialsegment for 2009 for the innovative measures taken for energyconservation at its office premises, the exchange said in a statement.

Tata Power has constituted an award for efforts in energyconservation by its clients in Mumbai.

It evaluated companieson the basis of technologies adopted or deployed and theenergy saved on account of the same.

The NSE was awarded the prize for implementing thermalenergy storage system in heat ventilation air conditioningsystems, energy efficient lighting system, building management system and for the awareness in the organisation forsustaining the initiatives.

NSE seeks trademark for currency derivatives label

New Delhi, Jan 10 : The National Stock Exchange hasapplied before authorities for registration of trademark forits 'Currency Derivatives' label.

The exchange has approached the Trade Marks Registry forthe registration of trademarks for 'Currency Derivatives'label under different classes, as per details available withoffice of the Controller General of Patents, Designs & TradeMarks.

NSE's currency derivatives label features signs of threecurrencies -- US dollar, euro and Japanese yen. As perdetails, NSE made its application on September 1, 2009.

Trademarks are distinctive signs, used to differentiatebetween identical or similar goods and services offered bydifferent producers or services providers. Trademarks are atype of industrial property, protected by intellectualproperty rights.

Currency derivatives is a contract between the seller andthe buyer, whose value is to be derived from the underlyingasset, the currency amount.

NSE is the first stock exchange in India to launchtrading in currency futures. Trading in currency futurescontract started in August 2008 on the NSE.

Financial Technologies-promoted Multi Commodities Exchange is the main rival of NSE in currency derivatives.

There has been a consistent month-on-month increase in thenumber of contracts traded in currency futures segment at NSE. Average daily volume for the month ended December 2009, was atUSD 1,952.59 million, as per the NSE data.

NSE has applied for registration of currency derivativeslabels in different classes including class 9 and 28.

Class 9 of trademarks rules deals with computer, electricand electronic equipment for data transmission, receiving andmanipulation, electronic accounting and banking equipment andothers. Class 28 is about games and playthings, gymnastic andsporting articles among others.

FIIs pump over Rs 3,000-cr into markets in a day

Mumbai, Jan 11 : Overseas investors today made a netinvestment of Rs 3,041.56 crore in the domestic stock markets.

Foreign institutional investors (FIIs) were gross buyerof equities worth Rs 5,973.59 crore, whereas they sold sharesvalued worth Rs 2,932.03 crore, resulting in a net inflow of Rs 3,041.56 crore, as per the provisional data available withthe Bombay Stock Exchange (BSE).

Domestic institutional investors (DIIs) were also in purchasing mood and were net purchasers of stocks worth Rs322.46 crore.

On Friday, foreign houses were the net investors ofshares worth Rs 150.80 crore, according to the latest Sebidata.

In today's trade, NRIs and proprietors also followed FIIsand in total were net buyers of Rs 28 crore equities.

Brokers, on the behalf of their clients, were also netpurchasers of equities worth Rs 40.58 crore.

The Sensex today closed at 17,526.71, down by 13.58points or 0.08 per cent, stretching its losses for the third straight session.

Overseas investors infuse Rs 3,700 cr in first week of 2010

New Delhi, Jan 10 : Overseas investors infused a netRs 3,700 crore into the stock market in the first trading weekof the New Year, reflecting an impressive start for 2010 afterrecord inflows in the last year.

Foreign institutional investors (FIIs) were gross buyersof shares worth Rs 13,738.80 crore, while they sold equitiesvalued worth 10,000 crore, resulting in a net investment of Rs3,738.70 crore, as per the data available with capital market regulator SEBI.

FIIs poured in a record over Rs 83,400 crore in the domestic equities in 2009.

For the week ended Friday, FIIs were the net investor ofRs 4,417.90 crore in debt instruments, according to the databy Securities and Exchange Board of India (SEBI).

Interestingly, during the period under review (January4-8) the Bombay Stock Exchange benchmark Sensex grew by 0.43 per cent to close at 17,540.29 points.

Worth to mention, during the year 2009, stock market barometer Sensex registeredan impressive gain of over 81 per cent.

Last year's investment of Rs 83,400 crore by FIIs is thehighest inflow in the country in rupee terms in a single yearand came a year after overseas investors pulled out over Rs50,000 crore

FIIs infuse Rs 24,800 cr in Indian stock mkts in Dec quarter

New Delhi, Jan 3 : The Indian stock markets witnesseda net inflow of Rs 24,800 crore from overseas investors duringDecember quarter in the current financial year.

During the three month period (October-December), foreigninstitutional investors (FIIs) made a net buy of shares worthRs 24,807.1 crore, data complied from market regulatorSecurities and Exchange Board of India (SEBI) said.

In the quarter under review, December attracted thehighest inflow of Rs 10,233.1 crore(USD 2.1 billion), followedby October (Rs 9,077 crore) and November (5,497 crore).

Interestingly, during December quarter, the stock marketbenchmark Sensex grew by just 1.97 per cent. During 2009, thebarometer registered a rise of 81 per cent.

According to analysis of data available with the SEBI,during the same period (Oct-Dec quarter), FIIs infused a netRs 6,050 crore in debt instruments.

After their flight last year, FIIs flocked back to bet onthe India growth story and poured in a record Rs 83,424 crorein domestic equities during the year just passed.

Marketmen says FII inflow in India would continue thisyear as well.

"FIIs will continue to be positive in our markets and ingeneral Indian markets will fare well in 2010," PurplelineInvestment Advisors director P K Agarwal said.

The trend of strong FII inflows to the tune of Rs 31,000crore (about 6.3 billion dollars) witnessed during April-Junequarter gained further during the September quarter of currentfiscal and the period witnessed an infusion of hefty Rs 34,313crore.

FII investment of Rs 83,420 crore in 2009 is the highestever inflow in the country in rupee terms in a single year andcomes a year after they pulled out over Rs 50,000 crore.

The inflow in 2009 broke the previous high of Rs 71,486crore parked by foreign fund houses in domestic equities in2007.

Interestingly, the whopping inflow by FIIs into the localstock markets has alarmed the government and other authoritiesconcerned.

The inflow has also made industry chambers like Assochamdemanding a two-percentage point tax on FII funds, whereas theexporter body FIEO (Federation of Indian Export Organisations)has asked the government intervention to contain the flow.

Gujarat Pipavav Port plans raising Rs 500cr via IPO;files DRHP

New Delhi, Jan 4 : Private port developer and operator Gujarat Pipavav Port Ltd (GPPL) plans to raise nearly Rs 500 crore through an initial public offer (IPO) and has filed draft papers with capital market regulator SEBI.

The company is also considering a pre-IPO placement withvarious investors, according to the Draft Red Herring Prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI).

When asked about the expected time for hitting the primary market, GPPL General Manager(Communications) Bhuvana Ramalingam told PTI, "we are hopeful to hit the market by the end of the current fiscal subject to regulatory approvals."

According to the DRHP, Rs 300 crore of the IPO proceeds will be utilised for prepayment of loans, Rs 88.52 crore for investment in capital expenditure and Rs 31.08 crore towardsinvestment in capital equipment among others.

The public issue of shares of Rs 10 each would be basedon 100 per cent book building process. The issue includes a reservation of shares worth Rs 10crore for the company's eligible employees, according to the DRHP.

GPPL is the developer and the operator of APM Terminals Pipavav, which has multi-cargo and multi-user operations. APM Terminals Pipavav is located in the Saurashtra region of Gujarat.

GPPL is principally engaged in providing port handlingand marine services for container, bulk and LPG cargo and is promoted by APM Terminals, which owns 57.9 per cent equity interest in the company.

APM Terminals is a part of Denmark-based AP Moller-MaerskGroup--one of the largest container terminal operators in theworld with a global network of 49 terminals in 32 countries.

The other shareholders of the company include New YorkLife International India Fund (Mauritius), IDFC InfrastructureFund, The Infrastructure Fund of India, IL&FS Trust CompanyLtd, Jacob Ballas Capital India Pvt Ltd, Unit Trust of India,Industrial Development Bank of India and India InfrastructureFund.

GPPL has the exclusive right to develop and operate APMTerminals Pipavav and related facilities until September 2028.

IDFC-SSKI and Kotak Mahindra Capital Company are the bookrunning lead managers to the issue, while IDBI Capital MarketServices Ltd is co-book running lead manager. The equity shares offered through the IPO are proposed tobe listed on the National Stock Exchange and the Bombay StockExchange.

Indian companies are expected to embark on a mega fundraising spree this year with plans to raise over Rs 50,000crore by way of public offers driven by sharp recovery in the stock market. About 50 companies have already filed DRHP with SEBI.

Last year, about Rs 20,000 crore was raised by the Indiancompanies through IPOs.

FII inflows hit record Rs 80,000 cr-mark in 2009

New Delhi, Dec 24 : After their flight last year,foreign institutional investors flocked back to bet on theIndia growth story by pouring in a record over Rs 80,000 crorein domestic equities in 2009.

The FII investment of Rs 80,500 crore in 2009 is thehighest ever inflow in the country in rupee terms in a singleyear and comes a year after they pulled out over Rs 50,000crore. FII inflow so far this year has broken the previoushigh of Rs 71,486 crore parked by foreign fund houses in domestic equities in 2007.

Market analysts believe that the FII inflow in India maycontinue in the next year as well, if the liquidity conditionsremain strong.

"FIIs will continue to be positive on our markets and ingeneral Indian markets will fare well in 2010," PurplelineInvestment Advisors director P K Agarwal said.

Delhi-based SMC Capitals Ltd's Equity Head JagannadhamThunuguntla echoed the view, saying, "If liquidity conditionsremain strong next year, one can expect FII inflows to remainstrong into India even in 2010 as well."

During a year when the stock market barometer added over70 per cent to its valuation, foreign institutional investors(FIIs) made a net investment of whopping over Rs 80,500 crore(about 16.8 billion dollars) in the Indian share market.

The Bombay Stock Exchange's benchmark Sensex, comprising30 bluechip stocks, has gained more than 70 per cent so far in2009, one of the best performer among leading global bourses.

"However, if dollar-carrytrade-unwinding starts, then onecan expect rush of FII outflow from the country, resulting inpressure on Indian markets," he cautioned.

Significantly, last year the FIIs had pulled out a net Rs52,900 crore from the domestic bourses --a trend triggeredwith the collapse of global financial services icon LehmanBrothers in the middle of September 2008.

This selling trend continued till the first two months ofthe passing year.

However, with the sign of revival of economies, the trendturned positive during March and overseas investors startedbetting big on the domestic bourses.

"As the liquidity conditions started improving after thegovernments across the world started putting in the stimuluspackages, FIIs again tried to come back starting March 2009,"Jagannadham explains.

As they came back, even Indian markets staged big rally.Moreover, FIIs don't have many other choices but for comingand investing in the high growth economies of India and China,he added.

The trend of strong FII inflows to the tune of Rs 31,000crore (about 6.3 billion dollars) witnessed during April-Junequarter gained further during the September quarter this yearand the period witnessed an infusion of hefty Rs 34,313 crore.

So far in the December quarter, foreign fund houses havemade a net investment of about Rs 22,000 crore in the stockmarket, amid a period that witnessed the Dubai debt crisis.

Moreover, in the debt instruments, FIIs have made a netinvestment of about Rs 5,200 crore (1.1 billion dollars) sofar in 2009, according to the market regulator Sebi data.

Interestingly, the whopping inflow by FIIs into the localstock markets has alarmed the government and other authoritiesconcerned.

The inflow has also made industry chambers like Assochamdemanding a two-percentage point tax on FII funds, whereas theexporter body FIEO (Federation of Indian Export Organisations)demanded government intervention to contain the flow.

According to the FIEO, the FII inflow had been making therupee stronger against the American greenback, rendering theexports incompetent from price angle.

Last month, the government said record investments in theequities market by FIIs was not a matter of concern, but itwould act if it finds any distortions.

"It (FII inflows) is not a matter of concern. We have asystem of monitoring. Whenever we find that there are somedistortions, we have the arrangement to counter them.Therefore, it is not disturbing," Finance Minister PranabMukherjee had said.

However, describing the foreign capital inflows as thesuccess story of India's recovery, Reserve Bank DeputyGovernor Subir Gokarn recently said that the inflow should notbe viewed as a threat at this point of time.

"You could see them as a positive sign which is that theyreflect increasing global confidence in Indian recovery," thenewly appointed Gokarn had said.

During the year, the number of registered FIIs increasedby 114 to 1,708, while the tally of registered sub-accountsrose by 458 to 5,330, according to the Sebi data.