 "BSE up 18% on colo case decision; time reduced for trading bonus shares")
BSE zooms18% on Sebi's colo case decision
Shares of the BSE skyrocketed by 18 per cent to Rs 3,420 per share on Monday, while the Multi Commodity Exchange (MCX) saw a 5 per cent surge. Market players attributed the sharp rise to the Securities and Exchange Board of India's (Sebi’s) decision to drop charges against the National Stock Exchange (NSE) and its former executives in the colocation case. Analysts believe this development may pave the way for NSE's initial public offering (IPO), which could have a ripple effect on other listed market intermediaries.
Shares of the BSE skyrocketed by 18 per cent to Rs 3,420 per share on Monday, while the Multi Commodity Exchange (MCX) saw a 5 per cent surge. Market players attributed the sharp rise to the Securities and Exchange Board of India's (Sebi’s) decision to drop charges against the National Stock Exchange (NSE) and its former executives in the colocation case. Analysts believe this development may pave the way for NSE's initial public offering (IPO), which could have a ripple effect on other listed market intermediaries.
Interestingly, NSE's unlisted share price has increased by almost three times in the past three years, with its current price ranging from Rs 6,000 to Rs 6,200 per share.
Sebi reduces time for trading bonus shares to two days
The Securities and Exchange Board of India (Sebi) on Monday reduced the time taken for credit and trading of bonus shares. The allotted bonus shares will be made available for trading on a T+2 basis (trade plus two working days), wherein the record date will be considered the trading day. The market regulator has directed issuers proposing the bonus issue to apply for in-principle approval to the stock exchanges within five working days from the date of board approval. The reduction in timeline comes amid a series of steps taken by the market regulator to reduce the trading timelines. Earlier, the market regulator reduced the timelines in the primary market, from T+6 to T+3. Sebi is also testing T+0 or same-day settlement in the secondary market.
Afcons Infra gets nod for Rs 7,000 crore IPO
Shapoorji Pallonji group’s flagship infrastructure engineering and construction firm Afcons Infrastructure has received final observation from the Securities and Exchange Board of India to raise Rs 7,000 crore through an initial public offering (IPO). The company had filed its IPO papers with Sebi on March 28. The IPO will be a mix of fresh issue of shares of Rs 1,250 crore and an offer for sale of up to Rs 5,750 crore. BS Reporter
Tolins Tyres, Kross make flat market debut
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Shares of Tolins Tyres Ltd made a flat market debut on Monday, listing with a marginal gain of nearly 1 per cent, against the issue price of Rs 226. Meanwhile, shares of auto parts manufacturer Kross Ltd also made a flat market debut on Monday, listing at par with the issue price of Rs 240. The stock got listed at Rs 240 on both the BSE and NSE.