"Only those stocks which meet the enhanced eligibility criteria shall remain in derivatives segment. Accordingly, the contracts for new expiry months in Oil India will not be issued on expiry of existing contract months," NSE said in its circular. … [Read more...] about Shree Cement to replace Yes Bank in Nifty50 from March 27, Oil India to be out of F&O
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Three of the Big Four global accounting firms may have moved to ban consulting for their audit clients in the UK in order to address conflict-of-interest concerns, but the historic move may not help revive the flagging fortunes of the larger audit markets plagued by poor quality and lack of competition, experts say.Last month, PwC and EY decided against offering advisory or consulting services near future to their audit customers in the UK following a similar move by KPMG announced last November. The largest among them, Deloitte, is also said to be watching this step closely even as it awaits more clarity from the UK regulators.These announcements come on the backdrop of tremendous pressure on the auditing giants from British lawmakers for having failed to flag off recent accounting misdemeanours including the one at the government construction contractor Carillion in January 2018.The British government has upped the ante against the Big Four and conducted independent reviews last year … [Read more...] about Would the historic consulting ban help revive the fortunes of audit markets?
NEW DELHI: Easing the regulatory framework for foreign portfolio investors (FPIs), Sebi has simplified KYC requirements for them and permitted them to carry out off-market transfer of securities. Besides, the regulator has broad-based the classification for FPIs and simplified their registration process. The notification comes after the board of Sebi in August approved a proposal to simplify the regulatory norms for FPIs. The new regulations have been redrafted based on the recommendation of a committee headed by former RBI deputy governor H R Khan. Under the new framework, FPIs would be classified into two categories instead of three. At present, Sebi has classified FPIs into three categories with the easier compliance norms for category-I FPIs and the strictest for category-III FPIs. The most well-regulated FPIs come under category-I. As per the new rule, the government and government-related investors such as central banks, sovereign wealth funds, international or multilateral … [Read more...] about Sebi relaxes FPI norms; allows off-market transfer of securities
By Chandrajit Banerjee As global GDP estimates are being downgraded by multilateral institutions because of coronavirus, India, too, will have to evaluate the impact on its economy, especially with the country’s high dependence on Chinese imports. China accounted for almost 14% of India’s total imports in 2018-19, and an even higher share when one looks at India’s top imports. CII data estimates China accounting for 45% of India’s electronics imports, one-third of machinery imports, and almost two-fifths of organic chemicals. Given the coronavirus outbreak in China, the immediate requirement is to look for alternate sources of these products. Take essential products such as pharmaceuticals where India sources 65-70% of active pharmaceutical ingredients (APIs) from China. While there are enough stocks available for now, a longer disruption may lead to a shortage. This needs to be avoided by either expanding domestic capacity, or importing from alternate … [Read more...] about How govt can protect India Inc from catching the China virus
Analysts attribute Airtel stock’s outperformance to investors betting on the probable duopoly and consequent consolidation by the company in the Indian telecom space. Vodafone Idea is struggling to foot the large AGR bills while Airtel has managed to pull through thanks to its investors and expanded m-cap. … [Read more...] about Airtel most valuable co in Asia’s emerging market after China Mobile