The Securities & Exchange Board of India (Sebi) today carried out wide-ranging reforms, including prescribing a minimum floating stock after listing, easting of norms on minimum offer size in public issues, tightening the norms for determining NPAs in mutual funds and allowing for co-sponsors in depositories. In a board meeting held here today, sebi decided that all listed companies will be required to maintain a minimum level of non-promoter holding on a continuous basis as a condition for listing Sebi chairman, DR Mehta said that all new companies will be required to maintain on a continuous basis the non-promoter holding at the same level as applicable at the time of entry—10 per cent or 25 per cent, depending on the public issue route it chooses. Currently, firms are not required to maintain a minimum floating stock after listing. This matter was discussed by the Secondary Market Advisory Committee and it was approved as it would ensure availability of floating stock. For existing companies, where non-promoter holdings are less than the applicable limit at the point of entry, companies will be given up to one year to raise the level to at least 10 per cent. Source : The Economic Times Dated: 23 December, 2000

The foreign institutional investors (FIIs) were net sellers in equities at Rs. 498.5 crore ($ 106.6 m) for the trading week ended December 22. According to the data available with the Securities and Exchange Board of India (Sebi), FIIs were net sellers also in debt to the tune of Rs.6.2 crore ($1.4m) for the week. FIIs were net buyers in equities at Rs.232.1 crore ($49.6m) and net sellers in debt at Rs.81.9 crore ($17.5m) in the previous week. On the equity front, the foreign funds were net buyers only on December18, the first trading day of the week, at Rs.27.7 crore ($5.9m) while they remained net sellers on all other days. The BSE sensitive index moved downwards to end the week at 3905.9 as against last weekend close of 4137.2, netting a huge fall of 231.3 points. The benchmark index saw a rise only on December 18 of 32.2 points. Source: The Economic Times Dated: 25th December, 2000

Bourse also plans to launch after-market trading The Over The Counter Exchange Of India (OTCEI) is in talks with Bangalore, Hyderabad and Chennai stock exchanges to list the active scrips listed on these exchanges on the OTCEI and vice versa. Speaking to ET, OTCEI managing director Praveen Mohnot said: " The listing of a stock can be carried out automatically on all the four exchanges once a company is listed on any of these exchanges. Companies would have to pay listing fees only on the exchange where it was originally listed. "The compliance function is likely to be centralised at the exchange where the scrip was originally listed. "While the Chennai stock exchange is to take the matter to its board shortly, negotiation with the other two exchange are currently on," said Mr. Mohnot. The exchange is also finalising plans to launch after markets trading in OTCEI listed scrips and the top 500 NSE scrips traded on the OTCEI in the permitted segment, in early 2001. " The will be for a three-hour period on every business day between 4.30 and 7.30 p.m. and will provide a legal alternative to kerb traders who want to trade after seeing the mood on the Nasdaq for instance," Mr Mohnot added. Recently, a Member of parliament (MP) had also raised a question in the Lok Sabha as to whether the government had seriously thought of closing down the OTCEL However, in view of the revival plan drawn up by the exchange, the stock exchange division of the finance ministry had in its reply said that the echange has already seen a 25 per cent increase in active members to 100. The exchange has also received proposals from five or six members for transfer of the membership cards which suggest a revival in the exchange's fortunes. It was alleged that small investors who have invested in Companies listed on the OTCEI have lost heavily. However, in a communique to the ministry, Sebi has said that the total amount raised in IPOs by OTCEI- listed Companies since inception stood at Rs 344 crore. The total market capitalisation of Companies listed on the exchange on the other hand stands at nearly Rs 380 crore, showing that investors have not really lost money on a systematic level.

The OTCEI can still spring a surprise. The stock exchange, which had tended to be written off by many, is in talks with international stock exchanges-Le Nouveau Marche, France, HK-GEM of Hong Kong and AIM of London for a strategic alliance to develop an unlisted equities market in the country. The exchange plans to kick off trading in unlisted securities in a web enabled environment. The ball has already been set to roll and a lot of spadework done. The exchange has already developed the trading technology software with the assistance of NSE. IT. Announcing the bourse's plans in Calcutta on Tuesday, OTCEI managing director, Praveen Mohnot said: " A strategic alliance with any one of the major stock exchanges with a strong domain knowledge of how to run the unlisted securities is imperative to position the product, before we decide to venture into this field." Unlisted securities market, Mr Mohnot explained, would provide an exit route to venture funds as well as foreign venture funds. Only qualified institutional buyers or QIBs who have an exposure in the companies, would be able to trade in the market. Key parameters relating to settlement cycle, eligibility for QIBs, listing norms and so on is yet to be outlined, said Mr Mohnot. The exchange already obtained the Securities & Exchange Board of India's (Sebi) permission for listing and trading and trading of unlisted securities. Issues like floating a subsidiary for the purpose is also being looked into. However, plans to launch the product would depend on the success of the after-hours trading session christened OTCEI Hi-Trade Market (OHM) session which will be launched from January 19. Elaborating on the OHM session at the member-dealers meet, Mr Mohnot said the exchange has decided to waive off all transaction charges for the first six months to give it the necessary impetus as well as create vibrancy. All the 500-odd topline stock comprise the A group scrips of the Bombay Stock Exchange as well as those on the National Stock Exchange. The exchange might even extend trading hours later once the OHM session proves to be a success. However, nothing has been decided about this as yet. " We have already received 15 new applications since the announcement. From the response of the brokers, we are sure many more applications are no the anvil. As of now, we intend to offer a broker one card for each V-SAT he has," Mr Mohnot said. The exchange hopes to have a daily turnover of Rs 300 crore in a year's time. Currently, the bourse has 990 member-dealers. The exchange is already under pressure from members not to issue fresh cards as it would not cards, hoverin around Rs 10 lakh Source: The Economic Times Dated: 11th January, 2001

Confusion prevailed in the US markets during the week as investors tried to digest the economic data and figure out the impact of the much anticipated rate cut. The jury is still out on whether the US economy will be entering into a short recession and is also debating the timing and impact of further cuts. Analysts feel that the second rate cut announced had already been factored into stock prices. The tragic earthquake in Gujarat and a Supreme Court ruling upholding SEBI's claim of a turnover tax put the brakes on the long rally in the domestic markets. But markets improved as players realized that the turnover tax is likely to affect the speculators and their brokers. The continuing FII inflows and the Government’s decision to divest its stake in VSNL and CMC further reinforced the optimism. Heavy purchases were made in PSU stocks after the Government’s announcement. Bond prices fell sharply during the start of the week on fears of the earthquake’s fiscal impact on the Indian economy. However, by midweek the sentiment improved as players realized that the economic cost would spread over a few quarters. The rate cut announced by the Fed also added to the optimism. Call rates continued to rule high and were in the range of 9.60%-9.70% during the week. KothariPioneer Views and Strategy TheUS markets should find direction in the coming days as some consensus is reachedon the state of economy and the timing of future rate cuts. The underlying tone seems to be positive asplayers hope further interest rate cuts from the Fed and President Bush'stax-cut package will combine to pull the economy out of its slump. The domesticmarkets seem all set to witness a broad-based rally driven by fundamentals. PSUstocks should continue to move up on hopes of further divestment by theGovernment in other bluechip PSUs. The market for top-tier software companiesstill looks vibrant if the recent bagging of a $200 million contract with NCR byHCL Tech is any indication. Thoughthe rupee slipped against the dollar due to month-end dollar demand from theimporters, we feel that it might rise further as a result of foreign inflows forearthquake relief. (source- Kothari Pioneer Newsletter)

THE BOMBAY Stock Exchange has decided to suspend trading in as many as 499 companies until further notice. The companies have failed to pay listing fees to the exchange consistently for the last few years as a result of which had to take action against them. The list of 499 companies include relatively small companies belonging to B2 or Z Group. Z Group companies are those which have failed to fulfill several listing requirements. The BSE has classified these as Z Group companies in order to alert investors. The Z Group has around 1,500 companies of which very few are currently trading in the market. Most of the suspended companies are quoting at low prices and trading volumes are also insignificant, reflecting a lack of investor interest. Earlier, the BSE delisted several companies for nonpayment of listing fees. However, that practice has been discontinued now with Sebi banning permanent delisting to protect investor interest. Most of the suspended companies include those which had entered into the primary market during the 1994-95 boom and had success in mobilising funds with the help of false promises about their projects, according to market sources. Meanwhile, the BSE announced a list of companies against whom a large number of complaints were received last month. The exchange received a total of 3,011 complaints against 1,314 listed companies during January 2001. The complaints pertain to different issues like non-receipt of refund orders, allotment letters or stock invest, non-receipt of dividend or interest, non-receipt of shares or debentures after transfer conversion or bonus issue.

Finance Minister Yashwant Sinha said that the FIIs limits have been increased . Progressive liberalization has taken place in the provisions relating to foreign investment. Foreign Institutional Investors (FIIs) can invest in a company under the portfolio investment route up to 24% of the paid up capital of the company. This can be increased to 40% with the approval of the General Body of the shareholders by a special resolution. I propose to increase this limit to 49%. Foreign Direct Investment (FDI) in Non-Banking Financial Companies (NBFCs) is permitted on a case by case basis upto 100% but with a condition that a minimum of 25 % of their holding is divested in the domestic market. This condition is being removed, provided the foreign investors bring in a minimum of US $50mn. FDI in NBFCs will now be put on the automatic route subject to RBI guidelines.

WITH many financiers on the National Stock Exchange withdrawing funds, the interest rates in the Automated Lending and Borrowing Mechanism on the NSE touched a record high of over 100 per cent for stocks like Himachal and Global Telesystems on Wednesday. On an average, ALBM rates remained in the region of 40 to 50 per cent, a sharp increase form their normal weekly average of 13-14 per cent. The sharp rise in ALBM rates has come in as a surprise to many marketmen despite the fall in their outstanding positions. Compared to this, the Bombay Stock Exchange saw a decline in badla rates to 9.5 per cent despite outstanding positions standing at Rs 2,552 crore as on March 1, 2000. Many financiers have pulled out money from the system fearing a payment crisis on the NSE, which has led to a sharp rise in rates. There were also rumours of it not being safe to finance the counters of a big operator who was allegedly facing problems in honoring his payment obligations.

The Calcutta Stock Exchange official payment for settlement number 148 has not gone through on Thursday. The final shortfall was estimated at Rs 96 crore, of an overall payment of Rs 350 crore. This is the first time ever that payment on the Number One account on the bourse has failed to go though on the appointed day. The entire shortfall is expected to be met on Friday when the CSE is open, despite Holi. The exchange is, however, adequately covered against the shortfall. The CSE is also the first casualty of the all-India payments crisis that originated with a coterie of bulls, allegedly led by Ketan Parekh taking an large exposure in certain IT stocks, particularly Himachal Futuristic, and finally succumbing to the vagaries of the market that they were not entirely able to control. The CSE's payment failure also exposed the hollowness of the claims made by Sebi and the finance ministry about the non-existence of payment problems in the country. The drama at the bourse witnessed top officials of the exchange up and awake till well past midnight, along with practically the entire governing board — trying to resolve the crisis

It’s a problem of plenty, though one which the Indian bourses wish they hadn’t had to cope with. At the end of March, Indian markets, including all the 23 stock regional exchanges, had close to 10,000 listed companies. India thus has the distinction of having the highest number of listed companies in the world, more than the combined total of US exchanges, Nasdaq, New York Stock Exchange and Amex. However, when it comes to actual trading, barely 1,500 managed to trade on a daily basis. The 'credit' for the highest number of primary listings went not to Mumbai but Calcutta Stock Exchange with 1,908 primary listed companies — each company has to specify one exchange as a primary exchange whose listing requirements it has to follow — followed by the BSE with 1,826. Overall, a total of 9,985 companies were listed on various stock exchanges in India on March 31, 2001, compared to 9,871 companies listed at the end of 1999-00, after adding the 114 IPOs during the course of the last fiscal. Of this, Calcutta Stock Exchange accounted for more than 19 per cent of the companies primarily listed on it followed by Bombay Stock Exchange which accounted for 18.2 per cent. DSE shared 17 per cent of the listed companies followed by Hyderabad Stock Exchange with 6.8 per cent. The number of companies listed at the Magadh Stock Exchange was only 33. A company can get listed at one or more exchanges but has to specify one exchange as its primary exchange, while other exchanges where it chooses to list are considered secondary. Source : The Economic Times Dated : 14 May, 2001

SECURITIES AND EXCHANGE BOARD OF INDIA  
SECONDARY MARKET DEPARTMENT
Mittal Court, B Wing, First Floor,
224, Nariman Point, Mumbai 400 021

                                           SMDRP/Policy/CIR-39/2001
July 18, 2001

 The Executive Director / Managing Director
Of all the Stock Exchanges

Sir/Madam,

Sub:- Unique client code

Pursuant to the discussions in the meeting of the Group on Risk Management Systems for the Equity Markets held on May 02, 2001, it was decided that every investor should have a unique ID.

In this regard, it will be mandatory for all brokers to use unique client codes for all clients. For this purpose, brokers shall collect and maintain in their back office the Permanent Account Number (PAN) allotted by Income Tax Department for all their clients. Sub-brokers will similarly maintain for their clients. Where an individual client does not have PAN number, such a client shall be required to give a declaration to that effect. In such an event, until the PAN number is allotted such client shall furnish passport number and place & date of issue. Where the client does not have a PAN number or a passport, such client shall furnish driving licence number, place & date of issue. If none of the above are available, the client shall give his voter ID number. The above requirement shall be applicable for clients having order value of Rs.1 lakh or more and shall be enforced w.e.f. August 01,2001.

In the case of other entities, the following procedure shall be adopted :

1. For FIIs, (where FII, itself is the investing entity) and their sub-accounts, SEBI registration number for FIIs and sub-account shall be used until the PAN No. is allotted.

2. For tax paying body corporates, the unique registration number issued by the relevant regulatory authority shall be used till the time the PAN is allotted. Regulatory authorities may be Department of Company Affairs, Securities and Exchange Board of India, Reserve Bank of India, Insurance Regulatory Development Authority, etc.

3. For non-tax paying entities other that mutual funds, such as societies, charitable trusts etc. the unique registration no. allotted by the relevant regulating authority of these entities shall be used until the PAN number is allotted

4. For mutual funds SEBI would be issuing an ID no. for schemes both past one and the new ones. This number would be used in the schemes along with the mutual funds.

5. Brokers shall verify the documents with respect to the unique code and retain a copy of the document.

6. The brokers shall also be required to furnish the above particulars of their clients to the stock exchanges/clearing corporations and the same would be updated every quarter.

7. The stock exchanges shall be required to maintain a database of client details submitted by brokers. Historical records of all quarterly submissions shall be maintained for a period of seven years by the exchanges.

The Exchanges are advised to direct members to include a new clause no. 7 as given below in the format of the Member-Client Agreement prescribed by our earlier circular dated April 11, 1997 as given below:-

"The member hereby undertakes to maintain, the details of the client as mentioned in the client registration form or any other information pertaining to the client, in confidence and that he shall not disclose the same to any person / entity except as required under the law, with prior intimation to SEBI."

The Exchanges are also advised that the following clause be made a part of the bye-laws, rules, regulations of the Exchange:-

"The Stock Exchange shall maintain the details of the clients of the members in confidence and that it shall not disclose to any person / entity such details of the client as mentioned in the client registration form or any other information pertaining to the client except as required under the law or by any authority."

Further the brokers shall maintain and preserve for a period of seven years a mapping of client IDs used at the time of order entry in the trading system with those unique client IDs along with client name, address and other particulars given in the Know Your Client form.

The Stock Exchanges shall ensure that all the brokers comply with the above requirements.

Yours faithfully,
P K Kuriachen
General Manager
Secondary Market Depository,
Research & Publications Department
e-mail : [email protected]

Stock market works less on fundamentals and more on sentiments or perceptions of the investors. One can say that it is actually moved by market makers or in our language speculators. Speculation is the main interest of any stock market. That’s why prices of key pivotals remain firm on the bourses despite an over all different trend in the index movement. I always advise people to continuously track the stock, analyse the fundamentals, consider the future prospects and only then should they enter a specific stock. In the present scenario, I am bullish on four sectors – PSUs, Pharma, Biotech and Software. In the last few months, the market witnessed major activities, which were triggered by the PSU stocks. Albeit, the reigning uncertainty over disinvestment program cannot be ignored either. But once the political uncertainty subsides there will be a big rally of PSUs again. The latest disinvestment candidate IPCL will definitely give the necessary impetus to all the PSUs in the next three months. Certainly, PSUs are the best buy today, there is no reason of loosing money as once the private players take over, the returns would be more than just decent as is evident from the case of CMC and VSNL. This apart stocks like Engineers India, Shipping Corporation, Dredging Corporation, Neyveli lignite, Container Corporation, Bharat Earth movers, GMDC are some of the decent picks in PSU’s where government holding is more than 80% while the investors' 100% holding will get accepted in open offer. The Pharma sector has seen some activity too. Pharma companies have been gaining selective buying interest. I am particularly positive about Dr. Reddy’s, Sun Pharma and Unichem Laboratories. Dr. Reddy’s is likely to see solid earnings growth in future as a result of focused efforts in both the domestic formulations and the US generic business and product/company acquisitions (domestic and overseas). Sun Pharma is a good buy at present valuation. The US vehicle of the company, Caraco Pharma has trimmed losses on the back of sharp rise in sales, for the first quarter ending March’31, which was supposed to be a major concern for the company. Unichem Lab is another long-term buy. Over the last few years, Unichem undertook various operational restructuring efforts such as setting up of facilities approved by various international authorities, improving product-mix with increased thrust on the chronic segment, aggressive marketing efforts with increasing composition of field force in total employees and increasing focus on the international markets with the help of tie-ups and alliances. These steps are just in the right direction and are expected to provide growth momentum to the company. While in the Biotech sector Dr. Reddy, Jupiter Biotech and Syngenta are expected to give better performance in the future. With the IT sector reviving from its reverie, stocks like Infosys, Wipro and Satyam can prove to be valuable investment counters. As far as the derivative market is concerned, there is an obvious lack of depth at present. People have still not understood the concept of derivative market in totality. Once the actual delivery settlement starts, it will trigger volume and movement in the derivative market and only then there will be a proper reflection of cash market in derivative market, which is not the case at present. Global economy is still in recession, but there are many indicators of revival. Better economic conditions will definitely pay to the investors, just invest safely and with long term investment as an objective.

Mumbai, 4th November, 2002. Although the Samvat Year that went by was disappointing for most investors and brokers, thr Muhurat trading today in Mumbai took off with optimism. The likely increase in India's weightage in MSCI index was a good news as also the gas find at Reliance Godavari fields.Microsoft's anti-trust settlement with the US Justice Department also cheered up the tech-investors. Half-yearly results of most major Indian companies were also good which improved the mood and optimism for the coming year.

1. Deal with only SEBI registered broker/ sub-broker. 2. Fill in the Client Registration Form and enter into Broker Client Agreement. 3. Insist on obtaining a valid Contract Note or confirmation Memo from Broker within 24 hours of the execution of trade. 4. Ensure that the Contract Note contains (a) SEBI registration No. of the Broker (b) NSE / BSE computer generated Trade ID, Order No., Trade Time, (c) Trade price shown separately from the brokerage charged (d) signature of the authorised representative. 5. Ensure delivery of securities / payments of money to the broker immediately upon getting the Contract Note but in any case, before the prescribed Pay-in / Pay-out (Pay-in /Pay-out of securities, three days after the transaction date.) 6. The Broker should pay the money or securities to the investor within 48 hours of the Pay-out. Insist on the same. 7. Please understand properly the risks and rewards involved in equity investments. Select stocks on sound principles and knowledge. Select your investments depending your future financial needs. Use a judicious mix of different Shares, Bonds, Mutual funds etc. Keeping in mind your requirements of safety, security and liquidity. 8. Deal preferably in dematerialised securities. It is important that investors open Demat accounts for this purpose. 9. Keep a record of all instructions given to your broker. 10. When you are selling shares, confirm whether the delivery is in physical or Demat form, before sale. 11. Don’t fall to prey to promise of unrealistic returns, never believe in fixed returns assured in equities. 12. Use the investor’s grievance redressal mechanism of exchange to redress your grievances, if any.

According to “A Study on Wealth Creation (1997-2002)” prepared by Motilal Oswal Securities Ltd dated 16th January 2003 the following are the ……………… Top-10 Wealth Creators (1997-2002) The Fastest Wealth Creators ADJUSTED APPRECIATION RANK COMPANY MKT. CAP. (X) CAGR (%) 1 Wipro 133 68 2 Satyam Computer Services 122 54 3 E-Serve International 110 41 4 Infosys Technologies 97 30 5 Moser Baer (India) 83 21 6 Zee Telefilms 80 19 7 Sri Vishnu Cement 78 18 8 Aftek Infosys 75 16 9 CMC 73 16 10 Amtek Auto 70 14 The Biggest Wealth Creators WEALTH APPRECIATION RANK COMPANY CREATED (X) (RS CR) 1 Wipro 38,322 68 2 Hindustan Lever 27,111 2 3 Infosys Technologies 23,690 30 4 Oil & Natural Gas Corpn 9,568 1 5 Reliance Industries 8,401 2 6 ITC 8,294 2 7 Satyam Computer Services 7,523 54 8 Ranbaxy Laboratories 6,797 3 9 Dr. Reddy’s Laboratories 6,597 12 10 Hero Honda Motors 6,065 11 The report further states that Looking Ahead … “At all times, in all markets in all parts of world, the tiniest change in interest rates changes the value of every financial asset”. Ø The fall in the interest rates on long-term bonds will have a deep impact on the valuations of other financial assets, particularly stocks Ø Corporate earnings are likely to be positively impacted by the sustained drop in the interest rates – not only through own interest cost reduction but also through suppliers’ interest cost reduction Ø Value is, however, not immediately reflected in market prices as “Investors are habitually guided by recent experiences and extrapolate them into the future” Ø If viewed as a disguised bond, the BSE Sensex is a far superior compounding instrument than the 10-year Government bond

18th May 2004: The BSE Sensex fell by 842.37 points yesterday making it a black Monday for all investors. On Friday, the BSE Sensex had fallen by 330 points. Over Rupees one lakh crores were lost due to this. This is the second biggest fall of the Sensex in its lifetime. The 30-scrip Sensex basket had 29 losers, with only Zee Telefilms being the stable one, doing 6.44 per cent to Rs 120.65. The Nifty fell 193.61 points and closed at 1,388.75 points. The market capitalisation of BSE stocks fell below the Rs 10,00,000 crores mark for the first time in six months, dropping to Rs 9,49,978 crores. Tuesday morning saw a better beginning as the market rose by about 264 points within the first 20 minutes or so of trading. The ones that had fallen the most recovered. Within half an hour of trading, ONGC, which had recorded the steepest fall of up to 25 per cent on Monday, showed an appreciation of over 3 per cent at around Rs 650 a share. Reliance was up by around 8 per cent at Rs 435. There was improvement in prices of GAIL, Infosys and Wipro.

Sub: Trade for Trade segment
Following securities will be shifted back from Trade for Trade segment (series: BE) to rolling segment (series: EQ) with effect from August 16, 2004 (Monday):

2. following security shall continue to be available for trading in Trade for Trade segment (series: BE):

3. Further, members may also note that the securities transferred to trade for trade vide our circular no. NSE/CMO/0043/2003 dated August 22, 2003 shall continue to be available for trading in Trade for Trade segment (series: BE):

Following scrips will be available in Trade for Trade segment (series: BE) with effect from August 16, 2004 (Monday).

The Stock Exchage, Mumbai
1) The under mentioned scrips will be transferred to "T" Group and they would be traded and settled on Trade to Trade basis effective from August 16, 2004 i.e. w.e.f. S/No. 99/2004-2005.

2) The following scrip, which is in T-Group, will continue to be in T-Group and will be traded and settled on trade-to-trade basis until further notice as part of surveillance actions.

3) The under mentioned scrips which are in T-Group and are traded and settled on trade to trade basis as part of surveillance measure will be shifted back to their original groups w.e.f. August 16, 2004 i.e. w.e.f. S/No. 99/2004-2005.

13th September 2004: In an effort to introduce discipline in trading, the Bombay Stock Exchange has decided to levy a penalty of up to Rs 1 lakh on any broking member and his client for violating prescribed market wide position limit for individual securities in the derivative segment. A meeting held on September 9, the disciplinary action panel of the exchange has prescribed the penalty norm for violation of market-wide position limit on individual securities.

13th September 2004: The Bombay Stock Exchange would impose special margins on 44 stocks, including Kalyani Forge Ltd and TTK Prestige, from Monday. The rates of special margins have been revised keeping in view the closing price of the scrip on last trading day, BSE said in a communication to the broking members on Sunday. These margins would be imposed on the basis of member wise gross purchase or sales position, it said. Some of the other scripts that would attract the special margins include Tilaknagar Ind, Kolar Info, K Sera Sera, Kirloskar Bros, Pearl Organics, Geojit Securities, Cranes Software, it added.

1st December 2004: Following a review of market trends by the Securities and Exchange Board of India, the Bombay Stock Exchange will shift 362 stocks including Birla Kennametal, Ind-Swift Labs and Kinetic Engineering to "T" group from December 6 to safeguard investor's interest. As part of a surveillance review and pursuant to a meeting with Sebi, 362 stocks would be shifted to T group. They would be settled on trade-to-trade basis to ensure market safety, BSE said in a notice to the broking members.

Some of the other stocks being shifted to T category include Kirloskar Pneumatic, Mahindra Ugine Steel, Nicco, Roto Pumps, Salora International, Talbros Automotive Components, Torrent Gujarat Biotech, Veronica Labs and Zodiac Clothing, it added. The broking members should take adequate precaution while trading in the above scrips as the settlement would be done on trade-to-trade basis and no netting off positions was allowed in these scrips.

2nd December 2004: As a part of Surveillance review and pursuant to the meeting with the capital market regulator Securities and Exchange Board of India (Sebi), The Stock Exchange, Mumbai (BSE) has decided to shift 176 stocks to Trade-To-Trade (“T”) group from December 6, 2004. The exchange in a notice to its members said that, “with a view to take preventive surveillance measure, to ensure market safety and safeguard the interest of the investors, the exchange has taken this decision”. However, if these stocks as on the shifting date are in No-Delivery period then such stocks will be transferred to “T” Group following the completion of its no-delivery period.

In another strict step, the exchange has decided to retain 326 stocks in “Z” group (already traded and settled on trade to trade basis), which are eligible to be transferred to “T” group for not complying with the various clauses of Listing Agreement etc. Further, as and when the review of “Z” group is taken up by the Exchange and if any of such stocks qualify to be excluded from “Z” group then such scrips shall be transferred to “T” group. BSE said its members would be intimated of any such changes as and when it happens by way of a notice. In another development the exchange has decided to shift 176 stocks currently traded on trade-to-trade basis to their original groups from December 6, 2004. However, if these stocks as on date are in no-delivery period then such scrips will be shifted back to their original group after the expiry of this period, it said.

7th December 2004: The representation of stockbrokers on the governing board of a recognised stock exchange is set to be reduced to one-fourth of the total strength of the board, according to The Securities Laws (Amendment) Bill, 2004. The bill introduced by the government in Lok Sabha today, says every recognised stock exchange will also have to issue fresh equity to ensure that at least 51% of its total equity capital is held by the public, distinct from the shareholders having trading rights in the exchange. This would be done within 12 months from the publication of the order on demutualisation of stock exchanges.

The Minister of State for Finance, Mr. S S Palanimanickam, introduced the bill for structural reforms of stock exchanges from a mutual organisation to a demutualised form in Lok Sabha today. Demutualisation means the separation of ownership and management from the trading rights of members of a recognised stock exchange according to a scheme approved by SEBI. The bill replaces an ordinance promulgated by the President on October 12 this year. It has also stipulated certain changes from the earlier version of the bill, which has lapsed due to the dissolution of the 13th Lok Sabha. These include the provision relating to definition of ‘derivatives’, which included non-securities based derivatives, such as those based on rates on indices.

These have been omitted, in view of the apprehension that the amendment would create further disability to the existing ‘over the counter’ derivatives. It has also omitted the provisions specifying the conditions for delisting of securities by stock exchanges. Instead it has left delisting to be defined in the rules, to be framed under the proposed Act. This will provide flexibility for regulation of delisting. The provision in the earlier bill for spot delivery contracts has also been deleted, as the existing provisions are considered adequate for regulation of certain category of spot contracts, the new bill says. The clause on non-attachment of investment assets has also been omitted, as such a provision could be misused to pass off assets of brokers as client assets and thus “frustrate attachment proceedings”.

The remaining provisions of the bill are similar to the ordinance. The government had promised the joint parliamentary committee on stock scam, that it would introduce this bill to streamline the functioning of stock exchanges to break their owner-trader nexus. The bill has accordingly given larger powers to Sebi to regulate the exchanges. The bill permits members of one stock exchange to enter into contract with members of other stock exchanges, subject to such terms and conditions as stipulated by respective stock exchanges with the prior approval of SEBI. It also proposes certain amendments in the Depositories Act, 1996 to provide for enhanced existing penalties and make provision for monetary penalty for certain contraventions. It stipulates grant of immunity in certain cases by the Central government and filing of appeal from the Securities Appellate Tribunal to the Supreme Court on the lines of provisions contained in the SEBI Act of 1992.

8th December 2004: The Bombay Stock Exchange has suspended 158 companies for non-compliance of various requirements of the listing agreement from the bourse with effect from December 21, 2004. The 158 companies have failed to comply with the requirements of clause 35 and clause 51 of the listing agreement regarding submission of shareholding pattern and registration for EDIFAR (Electronic Data Information Filing And Retrieval system) respectively, BSE said in a release in Mumbai today.

7 January, 2005: Market regulator Securities and Exchange Board of India on Thursday said the movements in the stock market during the past two days were "slightly unusual" and "we are keeping a close watch on the trading pattern". "The movements in the market were slightly unusual and we are keeping a close watch and analysing the data", Sebi chairman G N Bajpai told newspersons at the Bombay Stock Exchange. "We will take action for any inappropriate movement," he said referring to the sudden volatility in the market. After a bull run, the Sensex lost nearly 280 points in the past two days.

2nd February 2005: Amzel Automotive Ltd has informed BSE that the Board of Directors of the Company at their meeting held on January 28, 2005 have approved delisting of the Company from Mumbai Stock Exchange through Reverse Book Building process in Compliance with guideline 7 of Securities and Exchange Board of India (Delisting of Securities) Guidelines 2003.

2nd February 2005: Datt Mediproducts Ltd has informed BSE that the Board of Directors of the Company at their meeting held on January 29, 2005, inter alia have approved the proposal to get the Company delisted from Delhi, Calcutta and National Stock Exchange of India Ltd & continue listing with Mumbai Stock Exchange, subject to the approval of the shareholders in the general meeting.

3rd February 2005: KLG Systel Ltd has informed BSE that the securities of the Company have been delisted from The Stock Exchange-Ahmedabad (ASE) with effect from January 28, 2005.

3rd February 2005: Murli Agro Products Ltd has informed BSE that the securities of the Company have been delisted from the Jaipur Stock Exchange (JSE) with effect from December 20, 2004.

3rd February 2005: Indraprastha Medical Corporation Ltd has informed BSE that the shares of the Company have been delisted from the Delhi Stock Exchange Association Ltd (DSE) with effect from January 20, 2005.

3rd February 2005: DS Kulkarni Developers Ltd has informed BSE that the equity shares of the Company have been delisted from Pune Stock Exchange (PSE) with effect from January 15, 2005.

3rd February 2005: Bharat Heavy Electricals Ltd (BHEL) has informed BSE that the equity shares of the Company have been voluntary delisted from The Stock Exchange, Ahmedabad (ASE) with effect from January 28, 2005.

3rd February 2005: United Phosphorus Ltd has informed BSE that the equity shares of the Company have been voluntarily delisted from the Madras Stock Exchange Ltd (MSE) with effect from January 19, 2005.

8th February 2005: Indus Networks Ltd has informed BSE that the members at the Annual General Meeting of the Company held on December 16, 2004, inter alia, have accorded to delist the equity shares of the Company from The Hyderabad Stock Exchange Ltd, Hyderabad, The Stock Exchange Ahmedabad, Pune Stock Exchange Ltd, Pune.

8th February 2005: Ador Welding Ltd has informed BSE that the equity shares of the Company have been voluntarily delisted from the Madras Stock Exchange Ltd, (MSE) Chennai with effect from December 22, 2004 and The Stock Exchange, Ahmedabad (ASE) with effect from January 28, 2005.

9th February 2005: Laffans Petrochemicals Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on February 15, 2005, inter alia to consider & approve the application for delisting from Delhi Stock Exchange (DSE) and to approve the date of book closure.

9th February 2005: Apollo Tyres Ltd has informed BSE that the securities of the Company have been voluntary delisted from the Ahmedabad Stock Exchange (ASE) with effect from January 28, 2005.

9th February 2005: CLC Global Ltd has informed BSE that the securities of the Company have been delisted from Ahmedabad Stock Exchange (ASE) w.e.f. February 08, 2005.

9th February 2005: Dr Reddys Laboratories Ltd has informed BSE that the application for delisting of Company's equity shares were filed with four stock exchanges viz. The Hyderabad Stock Exchange Ltd (Regional Stock Exchange), Madras Stock Exchange Ltd, the Calcutta Stock Exchange Association Ltd and the Stock Exchange Ahmedabad and all four Stock Exchanges have approved the delisting of the Company's equity shares.

The equity shares of the Company are now listed on the following Stock Exchanges:

1. The Stock Exchange, Mumbai

2. The National Stock Exchange of India

3. New York Stock Exchange (ADS listed).

14th November 2005: Vaibhav Gems Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting held on February 12, 2004, have approved Voluntary delisting of equity shares of the Company from Jaipur Stock Exchange, Delhi Stock Exchange & The Stock Exchange, Ahmedabad.

14th February 2005: Sterlite Optical Technologies Ltd has informed BSE that the securities of the Company have been delisted from Delhi Stock Exchange Association Ltd (DSE) with effect from January 20, 2005.

15th February 2005: Blossom Industries Ltd has informed BSE that the Board of Directors of the Company in their meeting held today, have taken the following decisions: -

1. Delisting of Equity Shares from The Stock Exchange, Mumbai, The Stock Exchange, Ahmedabad, and the Vadodara Stock Exchange in accordance with the provisions of the SEBI (Delisting of Securities) Guidelines, 2003.

2. The Extra Ordinary General Meeting of the Company be convened on March 19, 2005 to secure the consent by a special resolution of the members for the Voluntarily Delisting of the shares of the Company from all the Stock Exchanges.

16th February 2005: Apollo Tyres Ltd has informed BSE that the securities of the Company have been voluntarily delisted from The Ludhiana Stock Exchange Association Ltd (LSE) w.e.f. February 08, 2005.

18th February 2005: Madhya Pradesh Glychem Industries Ltd has informed BSE that the equity shares of the Company have been delisted from Madhya Pradesh Stock Exchange (MPSE) w.e.f. February 08, 2005.

18th February 2005: La-Mere Apparels Ltd has informed BSE that the equity shares of the Company have been voluntarily delisted from The Stock Exchange Ahmedabad (ASE) with effect from January 28, 2005.

19th February 2005: The board of directors of Videocon Industries will meet on February 25, 2005, to consider an issue of global depository receipts (GDRs) and/or preferential issue of equity shares to raise funds. This was announced in a release issued to the BSE today.

19th February 2005: Ajanta Soya Ltd has informed BSE that the equity shares of the Company have been delisted from The Ludhiana Stock Exchange Association Ltd (LSE) with effect from February 08, 2005.

19th February 2005: Continental Credit & Investments Ltd has informed BSE that the securities of the Company have been delisted from Vadodara Stock Exchange (VSE) with immediate effect.

21st February 2005: GTC Industries Ltd has informed BSE that the Equity Shares of the Company have been delisted from Vadodara Stock Exchange Ltd (VSE).

21st February 2005: Hindustan Oil Exploration Company Ltd (HOEC) has informed BSE that the equity shares of the Company have been voluntarily delisted from Madras Stock Exchange Ltd (MSE) with effect from February 16, 2005.

24th February 2005: Kanika Infotech Ltd has informed BSE that a Board meeting of the Company will be held on March 03, 2005, to consider the Split of Equity Share.

24th February 2005: Tasc Pharmaceuticals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 24, 2005 has allotted 15,00,000 equity shares of Rs 10/- each at a premium of Rs 40/- each. This allotment is in respect of the second and final conversion of the convertible warrants issued by the Company on private placement basis.

24th February 2005: Tata Power Company Ltd has informed BSE that the allotment of a US$ 200 million Foreign Currency Convertible Bond (FCCB) has been completed on February 24, 2005. The Company had earlier launched a US$ 200 million, 5 year FCCB issue carrying a 1% coupon, convertible at a 50% premium over the closing share price of February 08, 2005 and bearing a yield to maturity (YTM) of 3.88% compounded semi-annually. These bonds will be listed on the Singapore Stock Exchange. J P Morgan was the sole underwriter and book runner to the offering.

25th February 2005: Spentex Industries Ltd has informed BSE that the securities of the Company have been delisted from The Stock Exchange, Ahmedabad (ASE) with effect from February 18, 2005.

4th March 2005: Datt Mediproducts Ltd has informed BSE that the members at the Extraordinary General Meeting (EGM) of the Company held on February 28, 2005, have approve and authorised the Board to seek voluntary delisting of Company's Equity Shares from The Delhi Stock Exchange Association Ltd, The Calcutta Stock Exchange Association Ltd and The National Stock Exchange of India.

4th March 2005: Fortis Financial Services Ltd has informed BSE that the securities of the Company has been delisted from the Delhi Stock Exchange Association Ltd (DSE) with effect from March 01, 2005.

4th March 2005: Oil & Natural Gas Corporation Ltd (ONGC) has informed BSE that the shares of the Company have been delisted from the Delhi Stock Exchange Association Ltd (DSE) with effect from March 01, 2005.

4th March 2005: Pradeep Metals Ltd has informed BSE that the equity shares of the Company has been delisted from the Delhi Stock Exchange Association Ltd (DSE) with effect from March 01, 2005.

5th March 2005: Amtek Auto members, at their extraordinary general meeting of the company to be held on March 24, 2005, are to authorise the board to issue and allot equity shares of the company by way of preferential offer on firm allotment basis to the promoters of the company. According to a release issued to the BSE, the promoters would be issued 48,00,000 equity shares of Rs 2/- per share at a premium of Rs 188/- per share aggregating to Rs 91.20 crore.

5th March 2005: DS Kulkarni Developers Ltd has informed BSE that the equity shares of the Company have been delisted from Ahmedabad Stock Exchange (ASE) w.e.f. January 28, 2005.

5th March 2005: Apollo Tyres Ltd and Ipca Laboratories Ltd has informed BSE that the securities of the Company has been delisted from The Delhi Stock Exchange Association Ltd (DSE) with effect from March 01, 2005.

5th March 2005: Andhra Pradesh Paper Mills Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 12, 2005, to consider the following:

1. Issue of equity shares on Preferential basis to (i) IL & FS Trust Company Ltd A/c IL & FS Private Equity Trust - Leverage India Fund and (ii) Trustees, IVC Employees Welfare Trust for an amount not exceeding Rs 1,01,00,000/- in accordance with Chapter XIII of SEBI (Disclosure and Investors Protection) Guidelines, 2000.

2. Increase in Authorized Capital from Rs 237.50 million to Rs 350 million and consequential amendments to Memorandum and Articles of Association of the Company.

3. Issue of further equity shares on Rights basis.

4. Convening the Extraordinary General Meeting of the Members for seeking the approval of shareholders for the above matters.

7th March 2005: Hindustan Construction Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 07, 2005, to consider the proposal to raise additional capital by way of issue of fresh equity shares on a preferential basis and / or by way of issue of FCCBs, GDRs or other permitted securities.

7th March 2005: International Diamond Services Ltd has informed BSE that the securities of the Company have been delisted from Jaipur Stock Exchange (JSE) w.e.f. February 19, 2005.

7th March 2005: Thiru Arooran Sugars Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 07, 2005, have accorded their approval for preferential issue of 5,64,700 Equity Share Warrants to the Promoter's Group in accordance with SEBI (Disclosure and Investor Protection) Guidelines, 2000. Further the Company has informed that an Extraordinary General Meeting of the Shareholders will be held on April 01, 2005 to seek the approval of the members as required under Section 81 (1A) of the Companies Act, 1956.

7th March 2005: Aegis Logistics Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 04, 2005, has approved Buy-Back of the fully-up paid Equity Shares of the face value of Rs 10/- each for an aggregate amount not exceeding Rs 61.60 million at a maximum price of Rs 75/- per share.

8th March 2005: The board of directors of PSL at its meeting held on March 07, 2005, have approved allotment of 50 lakh equity shares of Rs 10/- each fully paid up on preferential allotment basis in accordance with "SEBI Guidelines" for preferential issue. According to a release issued to the BSE, the board of directors of the company has convened an extra ordinary meeting on April 07, 2005 for the shareholders approval for the aforesaid purpose. The board of directors of the company further added that the company has bagged another prestigious order worth Rs 343 crore from Larsen & Toubro, for pipe supply, coating and other related works pertaining to GWRDC and NWRDC projects of Gujarat government, forming part of the "Sujalam Sufalam" and "Modera to Darohi" irrigation works. The project is to be executed within the financial year 2005-2006 and the company has taken effective steps to complete the same as per the schedule requirement, the release added.

8th March 2005: Birla Ericsson Optical Ltd has informed BSE that the equity shares of the Company have been delisted from the Calcutta Stock Exchange Association Ltd (CSE) with effect from March 04, 2005.

8th March 2005: Dhanuka Pesticides Ltd has informed BSE that the securities of the Company have been delisted from the Delhi Stock Exchange Association Ltd (DSE) with effect from March 01, 2005.

8th March 2005: Bongaigaon Refinery & Petrochemicals Ltd (BRPL) has informed BSE that the equity shares of the Company have been delisted from Calcutta Stock Exchange Association Ltd (CSE) w.e.f. March 01, 2005. However, considering the interest of the general investors, the Company have simultaneously been shifted to Permitted Category of the CSE.

8th March 2005: Galaxy Agrico Exports Ltd has informed BSE that the meeting of the Board of Directors of the Company will be held on March 11, 2005, to consider delisting of shares from the Ahmedabad Stock Exchange and Kolkata Stock Exchange.

9th March 2005: Bank of India has informed BSE that the equity shares of the Bank were delisted from the following Stock Exchanges, in pursuance of the decision taken by the Board at its meeting held on May 21, 2004.

1. The Stock Exchange, Ahmedabad w.e.f. October 15, 2004

2. Madras Stock Exchange Ltd w.e.f. October 19, 2004

3. The Delhi Stock Exchange Association Ltd w.e.f. December 11, 2004

4. The Calcutta Stock Exchange Association Ltd w.e.f. February 02, 2005

9th March 2005: Rolta India Ltd has informed BSE that the equity shares of the Company have been delisted from the following Stock Exchanges, pursuant to the special resolution passed by the members of the Company at the 13th Annual General Meeting of the Company held on December 15, 2003:

1. Bangalore Stock Exchange Ltd, Bangalore w.e.f. January 28, 2004

2. The Stock Exchange, Ahmedabad w.e.f. March 18, 2004

3. The Delhi Stock Exchange Association Ltd, New Delhi w.e.f. March 08, 2004

4. The Calcutta Stock Exchange Association Ltd, Kolkata w.e.f. March 01, 2005

10th March 2005: Shrachi Securities Ltd has informed BSE that the securities of the Company have been delisted from Madras Stock Exchange Ltd (MSE) with effect from March 07, 2005.

10th March 2005: Skanska Cementation India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 02, 2005, has proposed to delist the equity shares of the Company from The Calcutta Stock Exchange Association Ltd (CSE).

10th March 2005: Ind Swift Laboratories Ltd has informed BSE that the Securities of the Company has been delisted from the Delhi Stock Exchange Association Ltd (DSE) with effect from March 01, 2005.

10th March 2005: Dil Ltd has informed BSE that a meeting of the Board of Directors of the Company is scheduled to be held on March 17, 2005, to consider the following:

1. Proposal for purchase of Company's own equity shares under applicable laws pertaining to Buy Back of equity shares;

2. Proposal to shift the Registered Office of the Company.

10th March 2005: The members of S.Kumars Nationwide, at their extra ordinary general meeting to be held on March 29, 2005, are to authorise the board of the company to offer, issue and allot appropriate number of equity shares of face Value of Rs 10/- each on a preferential basis. According to a release issued to the BSE, the company, as per the Sebi guidelines, is to issue preferential shares to S.Kumar Enterpises (Synfabs) at an aggregate price of Rs 15 crore, on such terms and conditions as may be deemed fit by the board.

10th March 2005: Glenmark Pharmaceuticals Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on March 18, 2005 to consider allotment of Bonus Shares.

11th March 2005: India’s leading bourses, the National Stock Exchange (NSE) and The Stock Exchange, Mumbai, on Thursday sounded a major warning to investors and market participants, asking them to remain cautious in the wake of heightened market activity and intense volatility. The warning came even as NSE said it had unearthed irregular transactions in the cash market and the derivatives segment. The red alert to its members has come at a time when the markets are booming and benchmark indices are breaching all-time high levels every day. Benchmark indices - the Nifty of the NSE and the Sensex of The Stock Exchange, Mumbai (BSE) — touched all-time closing highs of 2,168.95 and 6,915.09 respectively on March 8, 2005.

The NSE, in two separate notices marked “For Special Attention”, has also warned of strict action against members who enter into non-genuine transactions either on their own behalf or on behalf of their clients. In a circular sent to its members on Thursday, NSE has said, “The market has been witnessing increased activity in terms of volumes and various indices have been recording all time highs, which may be due to various underlying factors. While we are sure that members must be exercising caution in executing orders on their own behalf and on behalf of their clients, members are once again advised to be vigilant about the activities of their sub-brokers and clients.” Chitra Ramakrishna, deputy managing director, NSE said, “We as an exchange release formal warnings to investors from time to time. The one which we have issued today is a kind of trading alert for investors as well as market participants so that they can take informed decisions while dealing on the exchange.”

In an identical notice, BSE also asked members to exercise due diligence while registering new clients. It also asked its members to monitor the clients’ trading pattern and they’re past trading record including large concentration in one or few stocks. They have also been asked not to deal with entities, which have been debarred from trading by Sebi or other regulatory authorities, failing which strict action would be taken against them. NSE said, “Some transactions in the cash market as well as in derivatives segment have come to our notice where illiquid securities and options contract are traded with huge price difference and option contracts fetching undue high premium.” In such transactions, same set of members has reversed transactions (at abnormal price differences in cash and at a premium in the case of options) that had no relevance to the movement in prices in underlying securities at that point of time, it said.

12th March 2005: Jasch Industries Ltd has informed BSE that the equity shares of the Company have been delisted from the Delhi Stock Exchange Ltd (DSE) w.e.f. March 01, 2005.

12th March 2005: Perm Somani Financial Services Ltd has informed BSE that the securities of the Company have been delisted from the Jaipur Stock Exchange Ltd (JSE) w.e.f. February 19, 2005.

14th March 2005: The Bharti Tele-Ventures counter today witnessed two block deals totaling 11.20 crore shares for a consideration of Rs 2,467 crore, constituting 6% of the company's equity. According to information available, the first block deal of 6.95 crore shares was at Rs 218 per share on the BSE while the second one of 4.25 crore shares was at Rs 223.90 a share on the NSE. A company official confirmed the two block deals. "This is perhaps the biggest block deal in the history of the Indian equity markets. This transaction acknowledges the leadership position Bharti enjoys in the telecom industry across the world," a Bharti spokesperson said.

14th March 2005: The board of directors of Bhushan Steel & Strips will meet on March 19, 2005, to consider a proposal to issue shares or any other instrument on preferential basis to raise Rs 30 crore. According to a release issued by the company to the BSE today, "the preferential issue will result in issue of equity shares or warrants or other instruments / securities converting into equity shares on a pari-passu basis.

14th March 2005: The shares of Jet Airways (India) finished Day 1 at Rs 1,304.20 on the NSE - a gain of 18.56% (Rs 204) to the IPO offer price of Rs 1,100 per share. The counter clocked a huge volume of nearly 1.28 crore shares and a turnover of Rs 1,608 crore, according to data available on the website of NSE. The scrip closed at Rs 1,305 on the BSE with a volume of over 68 lakh shares. The first trade on the NSE was struck for 4,000 shares at Rs 1,428, an NSE official said after the listing ceremony. The scrip was listed on the BSE at Rs 1,211. The 1.72 crore shares offered in the IPO had raised Rs 1,899 crore for the company.

15th March 2005: Tarai Foods Ltd has informed BSE that the securities of the Company have been delisted from The Calcutta Stock Exchange Association Ltd (CSE) w.e.f. March 04, 2005.

15th March 2005: Panasonic AVC Networks India Ltd has informed BSE that the securities of the Company have been delisted from the Delhi Stock Exchange Association Ltd (DSE) w.e.f. March 01, 2005.

16th March 2005: Agro Dutch Industries Ltd has informed BSE that the equity shares of the Company has been delisted from Jaipur Stock Exchange, Madras Stock Exchange and Ludhiana Stock Exchange under voluntary delisting of SEBI Guidelines 2003.

16th March 2005: Jubilant Organosys Ltd has informed BSE that at the meeting of the Special Committee of the Board of Directors held on March 16, 2004, allotment of 27,379 equity shares of Rs 5/- each at a premium of Rs 813.23/- per share has been made to Swiss Finance Corp. Mauritius Ltd., on conversion of a part of the Foreign Currency Convertible Bonds (FCCBs) amounting to US $ 5,00,000.

21st March 2005: Bhushan Steel & Strips Ltd. has decided to raise Rs 30 crore through preferential issue. The Board of Directors approved preferential issue of securities or instruments having an aggregate value not exceeding Rs 30 crore at its meeting held on March 19, 2005, the company informed the Bombay Stock Exchange on Monday. The decision is subject to the required approvals, including approval of members of the company, it said. The proposed preferential issue will result in issue of equity shares or warrants or other instruments or securities converting into equity shares on a pari passu basis, it added.

21st March 2005: Alembic Ltd has informed BSE that the securities of the Company have been delisted from Vadodara Stock Exchange Ltd (VSE) w.e.f March 14, 2005.

22nd March 2005: The committee of directors of Varun Shipping Company, which met today, allotted 27,00,000 equity shares on preferential basis to Transportation Infrastructure and Energy Investment, a sub-account of Matterhorn Advisory Singapore Pte, which is a registered foreign institutional investor (FII). This was announced in a release issued by Varun Shipping to the NSE today. The release did not mention the price of the allotment.

22nd March 2005: Hi-Tech Gears Ltd has informed BSE that the Board of Directors of the Company at its meeting held today, has approved allotment of 46,92,000 Bonus Equity Shares in the ratio of 1:1 of Rs 10/- each to the shareholders whose names appear in the register of members as on the Record Date i.e. March 17, 2005.

23rd March 2005: Nandan Piramal Investments, a part of the promoter group of Nicholas Piramal, sold 90 lakh shares (totaling 4.75% of the paid-up equity of Nicholas Piramal) on February 28, 2005 and over 62.72 lakh shares (aggregating 3.301% equity) on March 1, 2005. According to a release issued by Nicholas Piramal to the NSE today, the mode of sale is off-market deals. "The shareholding of Nandan Piramal Investments in the company after the said sales is 8,05,614 shares, aggregating 0.424% of the total paid-up capital," the release added.

24th March 2005: Mysore Cements on Wednesday said it would issue upto 80 lakh equity shares on preferential basis to ICICI Bank Ltd. The shareholders at an EGM have approved the issue and allotment of 80 lakh equity shares of Rs 10 each to ICICI Bank Ltd in accordance with Sebi guidelines, the company informed the Bombay Stock Exchange.

24th March 2005: IBP today said that HSBC Global Investment Funds, Mauritius has acquired 2.15 lakh shares of the company, taking its stake in the oil-retailing outfit beyond 5.5%. The shares, representing 0.97% of the share capital of IBP, were acquired through an open market purchase on March 7, 2005, IBP informed the National Stock Exchange on Thursday. The shareholding of HSBC Global Investment Funds after the said acquisition is 12.58 lakh shares aggregating 5.68% of the share capital of IBP Ltd, it added.

25th March 2005: Suryavanshi Spinning Mills Ltd has informed BSE that the Equity Shares of the Company have been delisted from The Hyderabad Stock Exchange Ltd (HSE) w.e.f March 31, 2004, Madras Stock Exchange Ltd (MSE) w.e.f April 21, 2004 & The Delhi Stock Exchange Ltd (DSE) w.e.f March 01, 2005.

25th March 2005: Hindoostan Spinning Weaving Mills Ltd has informed BSE that the equity shares of the Company will be delisted from National Stock Exchange Ltd (NSE) with effect from April 05, 2005.

28th March 2005: Bharti Healthcare Ltd today said it would consider delisting of the company's shares from the Bombay Stock Exchange. Pursuant to the request received from Bharti Overseas Trading Company (BOTC), the promoter shareholder, the board of directors will consider the delisting of shares from BSE as per the applicable guidelines, Bharti Healthcare informed the Bombay Stock Exchange.

28th March 2005: The members of Southern Ispat at its extra ordinary meeting held on March 25 have approved a proposal to issue and allot bonus shares not exceeding 6.52 lakh equity shares of Rs 10 each, aggregating Rs 65.23 lakh, from its reserves and surplus, as bonus shares to its existing shareholders. According to a release issued by Southern Ispat to the BSE, the bonus share issue will be in the ratio of one equity share for every eight shares held as on record date.

28th March 2005: Punjab National Bank (PNB) is planning to list the additional eight crore shares allotted recently to investors on March 29. "We will be listing the additional shares on both the BSE and the NSE on March 29," a senior PNB official said today. The basis of allotment has been decided, the official said without disclosing details. The bank had earlier fixed the cut-off price at its maximum limit of Rs 390 per share. The public offer received bids for 125.05 crore shares as against the offer for eight crore shares. The bank got bids worth over Rs 48,000 crore out of which it would retain Rs 3,120 crore at Rs 390 per share.

30th March 2005: At a time when there is a flood of initial public offerings (IPO), instances of companies delisting from bourses are also on the rise. In the fiscal 2004-05 so far, around 13 companies have opted for delisting compared with only three companies in 2003-04. According to the data available with Prime Database, delisting offers in 2004-05 were worth over Rs 1,000 crore. In stark contrast, the three delisting offers in the previous financial year amounted to around Rs 950 crore.

“Most of the delisting that we witness on the bourses pertain to MNCs and cannot be linked directly to market performance. That is why we have witnessed these delistings even when the markets are going up,” said merchant banking sources. Among the companies that delisted their shares in 2004-05 were Amalgamations Repco Ltd, SRP Tools Ltd, Vickers International Systems Ltd, India Gypsum Ltd, Rochees Breweries Ltd, e-Serve International Ltd, Ideaspace Solutions Ltd, Astra Zeneca Pharma Ltd and CTR Manufacturing Industries Ltd. The most recent example is Madras Aluminium Company Ltd (Malco). On Monday, a meeting of the board of directors of Bharti Healthcare Ltd was held to discuss the proposed delisting of the company from The Stock Exchange, Mumbai (BSE).

Delisting on the bourses is done through the reverse book building wherein the company offers to buy back shares from the remaining shareholders. Reverse book building is used for efficient price discovery. It is a mechanism where, during the period for which the books are open, offers are collected from the shareholders at various prices, which are above or equal to the floor price.

31st March 2005: Hindustan Construction Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 31, 2005, has allotted 29,05,540 fully paid Equity Shares of Rs 10/- each for cash at a premium of Rs 440/- per share (i.e. at an issue price of Rs 450/- per equity share) aggregating to Rs 130,74,93,000 to the following SEBI registered Foreign Institutional Investors and Domestic Mutual Fund on a preferential basis:

a. Goldman Sachs Investment (Mauritius) I Ltd (FII) - 9,50,000 Equity Shares.

b. Morgan Stanley Investment Management Inc A/c Morgan Stanley India Investment Fund Inc (FII) - 10,88,880 Equity Shares.

c. Morgan Stanley Mutual Fund A/c Morgan Stanley Growth Fund - 8,66,660 Equity Shares.

11th April 2005: It is going to be a hot summer for the markets, judging by the number of open offers lined up. The promoters of as many as 19 companies have lined up buy-back offers in April and May. They are expected to spend Rs 1,407 crore on the exercise. Of the 19 buy-back offers, 16 companies are buying back shares through tender offers to shareholders, while three companies have proposed to buy-back shares through open market operations.

The promoters of 16 companies propose to acquire a total of 87.89 million shares valued at Rs 1,165 crore through open offers to shareholders. The three companies going through the open market process include GlaxoSmithKline Pharma, Aegis Logistic and DIL. The three companies have proposed to buy back 4.35 million shares and have set aside Rs 243 crore from general reserves. Of the 16 open offers to shareholders, the current market prices of eight companies have been above the offer price. The remaining eight companies are traded below their open offer prices.

Sunshield Chemicals currently commands a premium of 271% over the offer price of Rs 10. Bihar Caustic Chemicals is quoted at Rs 55.70 against the offer price of Rs 23.27. Alstom commands a 45 per cent premium over its offer price of Rs 75.03. The current market prices of Crisil, SKF, Shriram Investment and Shriram Transport are also well above their respective offer prices. SKF’s promoters have proposed to delist the company after buying back the remaining 24.48 million shares with the public, amounting to 46.42 per cent of the company’s paid-up capital at a floor price of Rs 153 with offer price of Rs 180. The company proposes to spend Rs 440 crore on the proposed buyback offer. McGraw Hill Companies (of which Standard & Poors is a division), and its wholly owned subsidiary, S&P India LLC have made an open offer to buy 3,534,488 shares of Crisil at Rs 680 per share aggregating to Rs 240 crore.

Of the 16 open offers, the biggest is that of Shaw Wallace of Rs 300 crore, which is slated to open on April 18 and close on May 7. McDowell & Company Ltd (acquirer) along with its wholly-owned subsidiary Phipson Distillery and United Spirits, a wholly-owned subsidiary of Phipson Distillery Ltd, jointly and severally have made a voluntary open offer to the shareholders of Shaw Wallace to acquire up to 12,001,518 fully-paid equity shares of the company representing 25% of the equity capital at a price of Rs 250 per share.

11th April 2005: In a bid to track the performance of mid and small capital companies, the Bombay Stock Exchange (BSE) today introduced two new indices - the BSE Mid-Cap Index and the BSE Small-Cap Index. The indices would be calculated and disseminated on a real time basis on BSE's BOLT terminal with effect from today, the exchange said in a release. The base year of the indices would be 2002-2003, and the base index value would be 1,000 for each of the indices based on a free-float methodology, the release added.

The BSE Mid-Cap index would include 231 companies representing 15% of BSE's eligible universe with the highest average market capitalisation of Rs 2,476 crore and lowest at Rs 18 crore, it said. The total market capitalisation (average) of the Mid-Cap Index is Rs 2,28,315 crore, the release added. The BSE Small-Cap index would cover 425 companies with the highest average market capitalisation of Rs 417 crore and the lowest at Rs 5 crore. The total market capitalisation (average) of the index is Rs 76,750 crore, the release said. "The stock exchange would be reviewing the constituents of the indices on a quarterly basis," the release added.

12th April 2005: JIK Industries Ltd has informed BSE that the shares of the Company have been delisted from the stock Exchange, Ahemedabad (ASE) w.e.f March 31, 2005.

12th April 2005: Phyto Chem (India) Ltd has informed BSE that the equity shares of the Company have been delisted from the Hyderabad Stock Exchange (HSE) w.e.f April 04, 2005.

12th April 2005: STI India Ltd has informed BSE that 1,75,00,000 Equity Shares Rs 10/- each fully paid up of the Company have been delisted from The Stock Exchange Ahmedabad (ASE) & The Delhi Stock Exchange Association Ltd (DSE) w.e.f February 28, 2005 & March 01, 2005 respectively.

12th April 2005: TRF Ltd has informed BSE that the Board of Directors of the Company at its meeting held on March 23, 2005 have resolved to delist the equity shares of the Company with the Calcutta Stock Exchange Association Ltd (CSE), Kolkata & the Magadh Stock Exchange Association, Patna.

12th April 2005: Kamat Hotels (India) Ltd has informed BSE that the securities of the Company have been delisted from Delhi Stock Exchange Association Ltd (DSE).

12th April 2005: Rama Paper Mills Ltd has informed BSE that securities of the Company have been delisted from the following Stock Exchanges:-

1. Uttar Pradesh Stock Exchange Association Ltd w.e.f February 24, 2005.

2. The Delhi Stock Exchange Association Ltd w.e.f March 01, 2005.

3. The Stock Exchange Ahmedabad w.e.f February 28, 2005.

13th April 2005: Shiva Texyarn Ltd has informed BSE that the equity shares of the Company have been delisted from Madras Stock Exchange Ltd (MSE) with effect from March 31, 2005.

13th April 2005: Bliss Chemicals & Pharmaceuticals India Ltd has informed BSE that the equity shares of the Company have been delisted from The Delhi Stock Exchange Association Ltd (DSE) w.e.f. March 31, 2005.

13th April 2005: EPC Industrie Ltd has informed BSE that the securities of the Company are delisted from The Stock Exchange, Ahmedabad (ASE) with effect from March 31, 2005.

13th April 2005: BDH Industries Ltd has informed BSE that the equity shares of the Company have been voluntarily delisted from The Madras Stock Exchange Ltd and The Stock Exchange, Ahmedabad, w.e.f. March 31, 2005.

13th April 2005: Virat Industries Ltd has informed BSE that the securities of the Company have been delisted from The Stock Exchange, Ahmedabad w.e.f. March 31, 2005 and Vadodra Stock Exchange Ltd w.e.f. April 06, 2005.

14th April 2005: Gujarat Ambuja Cements Ltd (GACL) has decided to consider a bonus issue of equity shares and a stock split at its board meeting on April 20. The company, in a communique to The Stock Exchange, Mumbai (BSE), announced that its board will also consider the unaudited financial results for the quarter ended March 2005 and payment of interim dividend on equity shares, on the same day.

14th April 2005: Aekta Ltd has informed BSE that the equity shares of the Company have been delisted from the Delhi Stock Exchange Association Ltd (DSE) with effect from March 01, 2005.

15th April 2005: Ipca Laboratories Ltd has informed BSE that the equity shares of the Company have been delisted from The Stock Exchange - Ahmedabad (ASE) w.e.f. March 31, 2005.

18th April 2005: Pondy Oxides and Chemicals Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 16, 2005, has approved the Rights issue of Equity Shares in the ratio of 2 shares for every 3 shares held by the shareholders on the record date to be decided by the Board.

18th April 2005: Omax Autos Ltd has informed BSE that the equity shares of the Company have been delisted from The Stock Exchange - Ahmedabad (ASE) w.e.f. March 31, 2005.

18th April 2005: Vaibhav Gems Ltd has informed BSE that the equity shares of the Company have been delisted from The Stock Exchange - Ahmedabad (ASE) w.e.f. March 31, 2005.

18th April 2005: Unimin India Ltd has informed BSE that the equity shares of the Company have been delisted from The Calcutta Stock Exchange Association Ltd, Kolkata (CSE) with effect from March 10, 2005.

19th April 2005: The Board of Directors of Adlabs Films, at its meeting held on April 18, 2005, have approved the preferential issue of company's equity shares to BSMA at a price of Rs 150/- per share aggregating to $6 million, the company said in a release issued to the BSE.

19th April 2005: Shareholders of Pentamedia Graphics Ltd would be allotted shares of Mayajaal Entertainment Ltd, a group company into which almost all businesses of Pentamedia were transferred under a restructuring, after getting the approval from Bombay Stock Exchange (BSE). "We have applied to the BSE for approval," Padma Suresh, company secretary, Pentamedia Graphics, said, in a release here. Pentamedia had received the approval of Madras High Court for the business restructuring last year. Shareholders of Pentamedia would be allotted shares of Mayajaal in the ratio 10:6 (6 shares of Mayajaal for every 10 shares held in Pentamedia) as per the scheme approved by the High Court, she said.

The Chennai-based Pentamedia had transferred business activities of its three subsidiaries viz., Media Dreams (which is engaged in film and tele-serial production), Intelivision Ltd (produces and telecasts entertainment and education programmes for children and runs a children's TV channel Splash) and Kris Srikkant Sports Entertainment Ltd (produces TV software for cricket), under the restructuring. Also, the production and content creation activities of Pentamedia through its animation (3D, 2D) and Num TV division (Internet TV) were demerged and merged with Mayajaal. Pentamedia will restrict itself to distribution, marketing and relating activities of content globally, he release said. Following the restructuring, Pentamedia is holding the majority shareholding in Mayajaal.

19th April 2005: The board of directors of Polaris Software will meet on April 27, 2005 to consider a proposal to buy back shares. This was announced in a release issued by the company to the BSE today.

19th April 2005: Valuemart Info Technologies Ltd has informed BSE that a meeting of Board of Directors of the Company will be held on April 21, 2005, to consider the issue and allotment of new equity shares of Rs 2/- each to the shareholders of the Company pursuant to the scheme of reduction in capital of the Company confirmed by the Hon'ble High Court of Karnataka and Registered with Registrar of Companies, Karnataka.

20th April 2005: According to a release issued by the company to the BSE today, the board has approved an interim dividend of 60% i.e. Rs 6 per share and bonus shares in the ratio of 1:2 i.e. one equity share for every 2 shares held. "The board also approved a proposal to split existing equity shares of with a face value of Rs 10 each into equity shares with a face value of Rs 2 each, subject to approval of the shareholders," the release added.

20th April 2005: JMC Projects (India) Ltd has informed BSE that the shares of the Company have been delisted from Ahemedabad Stock Exchange (ASE) w.e.f March 31, 2005.

20th April 2005: Adarsh Derivatives Ltd has informed BSE that the equity shares of the Company has been delisted from the Delhi Stock Exchange (DSE) w.e.f. March 31, 2005.

20th April 2005: VBC Ferro Alloys Ltd has informed BSE that the securities of the Company have been delisted from Madras Stock Exchange Ltd (MSE) & The Hyderabad Stock Exchange Ltd (HSE) w.e.f December 02, 2004 & April 04, 2005, respectively.

20th April 2005: PSL Ltd has informed BSE that the equity shares of the Company have been delisted from The Pune Stock Exchange Ltd (PSE) w.e.f. March 14, 2005 & from Ahmedabad Stock Exchange (ASE) w.e.f. March 31, 2005.

20th April 2005: Ind Swift Ltd has informed BSE that the members at the Extra Ordinary General Meeting of the Company held on today have approved the resolution for the stock split i.e. sub division of every equity share of Rs 10/- each into 5 equity shares of Rs 2/- each.

22nd April 2005: Wipro Ltd., India's third-largest software services exporter, said on Friday its quarterly net profit rose 38% in line with market forecasts, as clients ramped up technology outsourcing. The company also announced a surprise bonus issue in the ratio of one share for every share held, barely a year after giving two bonus shares for every held.

22nd April 2005: Steel Tubes of India Ltd has informed BSE that the equity shares of the Company have been delisted from Delhi Stock Exchange (DSE) w.e.f. March 01, 2005.

23rd April 2005: ATN International Ltd has informed BSE that the equity shares of the Company have been delisted from Delhi Stock Exchange Ltd, Ahmedabad Stock Exchange Ltd & Jaipur Stock Exchange Ltd.

23rd April 2005: Aksh Optifibre Ltd has informed BSE that the securities of the Company have been voluntarily delisted from The Jaipur Stock Exchange Ltd (JSE).

23rd April 2005: Patels Airtemp (India) Ltd has informed BSE that the shares of the Company have been voluntarily delisted from The Stock Exchange, Ahmedabad (ASE) w.e.f. February 28, 2005.

25th April 2005: The board of directors of Ultratech Cement at its meeting held on April 23 has recommended a dividend of Rs 0.75 per share of face value of Rs 10/- each for the year ended March 31, 2005, the company said in a release issued to the BSE.

25th April 2005: The members of Aban Loyd Chiles Offshore at its extraordinary general meeting held on April 23, 2005 have approved the stock split of fully paid equity shares of face value of Rs 10/- each in to 5 fully paid equity shares of face value of Rs 2/- each.

According to a release issued by Aban Loyd to the BSE, the company has also approved the subdivision of partly paid equity shares of face value of Rs 10/- each of which Rs 5/- per share paid up into partly equity shares of face value of Rs 2/- each of which Re 1/- per share paid up.

26th April 2005: The board of directors of Bharti Tele Ventures, which met on April 25, 2005, has issued 52,24,479 equity shares of the company to Shyam Cellular Infrastructure Projects (SCIPL). According to a release issued by Bharti to the BSE today, the shares have been issued to SCIPL upon conversion of Rs 100 crore optionally convertible redeemable debentures (OCRDs) issued to it last year as part of consideration for the acquisition of 67.5% stake of Shyam Group in Hexacom India - the holder of licences for Rajasthan & North East circles

26th April 2005: The board of directors of Adlabs Films, which met on April 21, 2005, has approved a further preferential issue of equity shares to Arisaig Partners (Asia) Pte at Rs 150 per share aggregating to investment value of $6 million. According to a release issued by Adlabs to the BSE today, the total proposed investment in the company through the preferential mode now amounts to $12 million.

26th April 2005: Laffans Petrochemicals Ltd has informed BSE that the members at the Annual General Meeting of the Company held on March 30, 2005, have accorded to voluntarily delist the securities of the Company from The Delhi Stock Exchange Association Ltd (DSE).

26th April 2005: Suryadeep Salt Refinery & Chemicals Works Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 25, 2005 has considered and approved the proposal of split-up / subdivision of equity shares of the Company subject to approval of the members at the EGM to be held on May 18, 2005.

26th April 2005: Bharti Healthcare Ltd has informed BSE that the shareholders at the Extra Ordinary General Meeting of the Company held on April 22, 2005, have approved to delist the Equity shares of the Company from The Stock Exchange, Mumbai (BSE).

27th April 2005: The board of directors of Southern Ispat (SI) at its meeting held on April 18, 2005, has approved to allot 6.52 lakh equity shares of Rs 10/- each by way of bonus shares. According to a release issued by Southern Ispat to the BSE, the shareholders have given their nod at the EGM held on March 25,2005 by debiting the reserves & surplus and crediting the share capital account.

29th April 2005: The board of Kirloskar Brothers’ has approved splitting each of its shares into five shares, the Bombay Stock Exchange said on Friday.

29th April 2005: In order to check anti-market practices like circular trading and share price manipulation, the Bombay Stock Exchange (BSE) has decided to levy strict penalties on parties involved in such practices. The Disciplinary Action Committee of the exchange, in its meeting held on April 19, has decided to revise norms against violations detected by its surveillance and supervision department.

The exchange has devised a method, according to which a party involved in any wrong doing will have to pay an incremental cash fine on the basis of the number of instances of violations detected. The exchange has devised a system of penalty points under which history, based on the materiality and the number of instances of violations will be built up.

The market witnesses a variety of violations like circular trading, manipulation of prices and order book, placing orders at unrealistic prices when the circuit filter is open, placing orders that result into rogue trades and delay in submission of information to the exchange. The revised norms will be effective from May 2, ’05. The norms will be applicable to all violations which happened on or after April 1, ’04 and detected after May 2, ’05.

29th April 2005: Solix Technologies Ltd has informed BSE that the members at the Extra Ordinary General Meeting of the Company held on April 26, 2005, have accorded to sub-divided the equity shares of the Company having a nominal face value of Rs 10/- per share into equity shares having a nominal face value of Rs 2/- per share and consequently amending the Memorandum & Articles of Association of the Company with regards to the share capital of the Company.

29th April 2005: The board of Gujarat Apollo Equipments will meet on May 5 to consider a bonus share issue, the company told the Bombay Stock Exchange today.

29th April 2005: Dagger-Forst Tools Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2005, has decided to issue Rights Shares, subject to various statutory approvals, at the ratio of one share for every three shares held, at a price to be decided by the Committee appointed by the Board in consultation with the Merchant Bankers.

29th April 2005: Intra Infotech Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 28, 2005, has approved the sub-division of shares of the Company from Rs 10/- paid up to Re 1/- paid up.

29th April 2005: Pricol Ltd has informed BSE that the equity shares of the Company have been delisted from the Coimbatore Stock Exchange Ltd (CSE) & Madras Stock Exchange Ltd (MSE).

29th April 2005: Khandelwal Extractions Ltd has informed BSE that the Company's equity shares have been delisted with the Delhi Stock Exchange (DSE) with effect from March 31, 2005.

29th April 2005: Gopala Polyplast Ltd has informed BSE that the securities of the Company have been delisted from Jaipur Stock Exchange Ltd (JSE) w.e.f. March 30, 2005.

29th April 2005: Kalindee Rail Nirman Engineers Ltd has informed BSE that the shares of the Company have voluntarily delisted from the Madras Stock Exchange Ltd (MSE) with effect from March 31, 2005.

29th April 2005: GCCL Infrastructure & Projects Ltd has informed BSE that the securities of the Company have been delisted from Ahmedabad Stock Exchange (ASE) w.e.f. April 29, 2005.

29th April 2005: H S India Ltd has informed BSE that the securities of the Company have been delisted from the following stock exchanges:

1. Ahmedabad Stock Exchange Ltd with effect from March 31, 2005;

2. The Delhi Stock Exchange Association Ltd with effect from March 31, 2005; and

3. Jaipur Stock Exchange Ltd with effect from March 30, 2005.

29th April 2005: GlaxoSmithKline Pharmaceuticals Ltd has informed BSE that the shareholders of the Company has, through Postal Ballot, approved the buyback of the equity shares of the Company, upto a limit not exceeding Rs 2306.521 million being 25% of the existing paid-up share capital and Free Reserves of the Company, at a price not exceeding Rs 800 per equity share from the open market through Stock Exchanges.

29th April 2005: Godrej Consumer Products Ltd has informed BSE that the equity shares of the Company have been delisted from The Calcutta Stock Exchange Association Ltd (CSE) w.e.f. March 30, 2005.

29th April 2005: BPL Ltd has informed BSE that the equity shares of the Company have been voluntarily delisted from the Delhi Stock Exchange Association Ltd (DSE) w.e.f. March 31, 2005.

30th April 2005: Berger Paints India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2005, has approved buy back of the Company's own fully paid up Equity Shares of Rs 2/- each for an amount not exceeding Rs 185.90 million representing 10% of the total paid-up equity capital and free reserves of the Company, at a price not exceeding Rs 60/- per equity share.

The Company has clarified that the resolution passed by the Board at the said meeting providing for a maximum price of Rs 60/- does not indicate that the Company will be obliged to buy or continue to buy shares so long as the price is below Rs 60/-. Similarly the fact that the resolution indicates a maximum aggregate purchase price of Rs 185.90 million does not indicate that the Company will utilize or is obliged to utilize the entire amount of Rs 185.90 million in the buy-back.

Further the Company has informed that at the said meeting the Board of Directors has also decided to explore suitable relationships with appropriate global and regional paint companies, in order to sustain, expand and capture the multifold growth of the Indian paint industry in particular and the strategic countries in general.

30th April 2005: GCCL Construction & Realities Ltd has informed BSE that the Securities of the Company has been delisted from Ahmedabad Stock Exchange (ASE) w.e.f. March 31, 2005.

30th April 2005: The board of directors of Hindustan Construction Company, at their meeting held on April 29, 2005, has recommended a payout of Rs 6/- per equity share. The company said in a release issued to the BSE today.

30th April 2005: Innosoft Technologies Ltd has informed BSE that the members at the Extra Ordinary General Meeting of the Company held on April 30, 2005, have approved the issue of 11,50,000 equity shares of Rs 10/- each at a premium of Rs 15/- per share to Ms. Swarnalatha Bandla, USA on a private preferential basis.

30th April 2005: Kilburn Engineering Ltd has informed BSE that the shares of the Company have been delisted from the Vadodara Stock Exchange Ltd (VSE) w.e.f March 24, 2005.

30th April 2005: Rallis India Ltd has informed BSE that Equity Shares of the Company have been voluntarily delisted from Calcutta Stock Exchange Association Ltd (CSE) w.e.f. April 28, 2005.

2nd April 2005: Asahi Infrastructure & Projects Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2005, has unanimously resolved to Spilt the existing Equity Share Capital consisting of 37,19,600 Equity shares of Rs 10/- each into 3,71,96,000 Equity Shares of Rs 1/- each subject to approval of shareholders in the forthcoming Extra-Ordinary General Meeting to be held on June 01, 2005.

2nd May 2005: Godrej Consumer Products Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 10, 2005, inter alia, to consider a proposal for buy back of shares under the authority of the Board of Directors pursuant to the first proviso of section 77A(2)(b) of the Companies Act, 1956.

2nd April 2005: Himatsingka Seide Ltd has informed BSE that the equity shares of the Company have been delisted from The Calcutta Stock Exchange Association Ltd (CSE) w.e.f. March 30, 2005.

2nd May 2005: Skanska Cementation India Ltd has informed BSE that the members at Annual General Meeting of the Company held on April 29, 2005, inter alia, have accorded to delist the Company's equity shares from The Calcutta Stock Exchange Association Ltd (CSE), Calcutta without giving an exit option to the members.

2nd April 2005: Sgn Telecoms Ltd has informed BSE that a meeting of the Board of the Directors of the Company will be held on May 09, 2005, to recommend the splitting of 1 equity share of Rs 10 each into 10 equity shares of Rs 1/- each.

2nd May 2005: Ramco Systems Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 09, 2005, to consider issue of equity shares on Rights Basis.

3rd May 2005: Reliance Energy today allotted 97.5 lakh equity shares to Reliance Power Ventures Limited on conversion of warrants. The company informed the Bombay Stock Exchange that a decision to this effect was taken at the meeting of committee of directors held on May 2, 2005 and it allotted equity shares of Rs 10 each at a premium of Rs 630 each to RPVL on conversion of warrants. The company said the approval was accorded by shareholders of the company at the Extraordinary General Meeting on March 22, 2004, pursuant to the SEBI (DIP) Guidelines, 2000.

It further said the company had allotted warrants of Rs 640 each to one of the promoter companies’ viz. RPVL on April 2, 2004. Each of these warrants is convertible into one equity share of Rs 10 each at a premium of Rs 630 each. RPVL had paid 90 per cent of the issue price of warrants, that is, Rs 576 per warrant. RPVL, in exercise of the option of conversion, paid the balance amount of Rs 64 per warrant and applied for allotment of 97,50,000 equity shares on the above terms.

3rd May 2005: Nagreeka Exports Ltd has informed BSE that the equity shares of the Company have been delisted from The Calcutta Stock Exchange Association Ltd (CSE) with effect from March 30, 2005.

3rd May 2005: Narmada Chematur Petrochemicals Ltd has informed BSE that the equity shares of the Company have been delisted from The Stock Exchange, Ahmedabad w.e.f. February 18, 2005 & from Vadodara Stock Exchange Ltd.

4th May 2005: Tamil Nadu Newsprint & Papers Ltd has informed BSE that the equity shares of the Company have been voluntarily delisted from Madras Stock Exchange (MSE) with effect from April 28, 2005.

4th May 2005: Flextronics Software Systems Ltd has informed BSE that the Board of Directors of the Company have received letter from the Company's Promoter, Flextronics Sales & Marketing (L-A) Ltd on May 04, 2005, proposing for voluntary delisting of the Company, who are currently listed on the Stock Exchange, Mumbai and the National Stock Exchange of India, under the provision of Securities and Exchange Board of India (Delisting of Securities) Guidelines, 2003 ("Regulations"), to acquire all outstanding shares of the Company, in accordance with the Regulations. Hence, the Company proposes to take up the matter at the forthcoming meeting of the Board of Directors of the Company scheduled to be held on May 05, 2005.

Spentex Industries Ltd has informed BSE that the securities of the Company have been voluntarily delisted from The Calcutta Stock Exchange Association Ltd (CSE) with effect from March 30, 2005.

4th May 2005: Hinafil India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 10, 2005, inter alia, to consider splitting of shares from Rs 10/- to Rs 1/- subject to the approval of the shareholders at Extra Ordinary General Meeting.

4th May 2005: Vijay Textiles Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 04, 2005, has allotted 6,65,34,000 equity shares of Re 1/- each as Bonus shares to the existing members in the ration of 2:1 i.e. two additional equity shares for every one equity share held by the members.

4th May 2005: The Stock Exchange, Mumbai (BSE) has decided to revise the penalty structure imposed on its members by the surveillance and supervision department. The revised norms, which became effective from Monday, are based on history of violations by a particular member.

The penalty will be levied on the basis of profit accrued from the violation. These norms will be applicable on all violations on or after April 1, 2004 and detected after May 2, 2005. The history of violations by members will be built from April 1, 2004 onwards.

BSE’s surveillance department monitors positions of all the active trading members. In a notice sent to all its members, BSE has listed eight types of violations for which penalty norms have been revised.

These include circular trading, fictitious trading, creating artificial volumes, price manipulation (rigging), manipulation of order book, placing of orders at unrealistic prices when circuit filters are open, placing orders that result in rogue trades and late submissions of details or submission of wrong information.

With respect to building of history of violations by members, a penalty point structure has been devised as per which every warning issued to members by the exchange authorities will attract five penalty points.

So, fine up to Rs 10,000 will attract 15 points, fine of more than Rs 10,000 but less than Rs 25,000 will attract 40 points, 50 points will be levied on a member who is asked to pay a fine of more than Rs 25,000 but less than Rs 50,000 while a member paying fine of Rs 50,000 to Rs 1 lakh will attract 60 penal points. If the penalty levied is based on profit, points will be calculated on the basis of profit impounded.

The profit to be impounded will be calculated for violations which are coupled with price manipulation and where price manipulation can be established beyond doubt. Also, it will be calculated only when the cost of acquisition and the sale proceeds can be calculated\estimated based on weighted average price.

For all the violations except the one related to late submission of details, under the existing norms penalty levied was in the range of Rs 15,000-25,000 or two to three times of profit made out of the transaction, whichever was higher.

Against the existing penalty structure, the revised norms envisage categorising market violations into three category viz, I, II and III based on penalty points accumulated prior to the violation under consideration.

5th May 2005: Kanoria Chemicals & Industries Ltd has informed BSE that the Equity Shares of the Company has been voluntarily delisted from The Calcutta Stock Exchange Association Ltd (CSE) w.e.f. March 30, 2005.

5th May 2005: HB Leasing & Finance Company Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 07, 2005, to consider the following:-

1. Take on record the Audited Financial Results of the Company for the year ended as on March 31, 2005.

2. Seeking the shareholders approval for the delisting of equity shares of the Company form the Delhi Stock Exchange.

6th May 2005: The board of Nagarjuna Construction Company Ltd. will meet on May 16 to consider a proposal to split its shares, the company told the Bombay Stock Exchange today.

6th May 2005: Filtron Engineers Ltd has informed BSE that the shares of the Company have been delisted from Pune Stock Exchange Ltd (PSE) w.e.f. March 31, 2005.

6th May 2005: Multi-Arc India Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 13, 2005, to consider Issue of Equity Shares on Right Basis to existing shareholders.

7th May 2005: Godrej Foods Ltd has informed BSE that the Securities of the Company have been delisted from the Madhya Pradesh Stock Exchange w.e.f. March 21, 2005 & from the National Stock Exchange of India Ltd (NSE) w.e.f. April 19, 2005 pursuant to the Securities & Exchange Board of India (Delisting of Securities) Guidelines, 2003.

7th May 2005: Bata India’s Rs 70-crore rights issue is likely to hit the market in the third week of May, according to a senior Bata official. The Securities and Exchange Board of India (Sebi) has already approved the issue. Bata India, part of Canada-based Bata Shoe Organisation, plans to offer the shareholders one share for every four they hold. This fund-raising exercise will help the shoe major to fund its restructuring programme. The Canada-based promoter holds 51% in Bata India and is expected to subscribe fully to the rights issue, according to sources. Domestic mutual funds and other financial institutions, including banks, hold 16.76% at the end of March 2005. Public holdings in the company stood a shade above 26%.

9th May 2005: The board of jewellery exporter Goldiam International Ltd. has set bonus share issue in the ratio of one share of every held, the Bombay Stock Exchange (BSE) said today.

9th May 2005: The board of Interlink Financial Services Ltd. will meet on May 16 to consider a stock split, the company informed the Bombay Stock Exchange today.

10th May 2005: Flextronics Software Systems Ltd has informed BSE that an Extra Ordinary General Meeting (EGM) of the members of the Company will be held on June 03, 2005 for seeking their approval for getting the shares delisted from The Stock Exchange, Mumbai (BSE) and the National Stock Exchange of India Ltd (NSE). Accordingly May 27, 2005 has been fixed as the specified date for the purpose of the EGM.

10th May 2005: Balkrishna Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 16 to consider a bonus share issue.

13th May 2005: The board of OAL will meet on May 25 to consider splitting its equity shares, the company told the Bombay Stock Exchange today.

13th May 2005: IQMS Software Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 20, 2005 to discuss about the Sub-division of its Equity Shares pursuant to Sec 94A & other applicable provisions if any of the Companies Act, 1956, such that the existing 1,30,00,000 Equity Shares of Rs 10/- each be sub divided into 13,00,00,000 Equity Shares of Rs 1/- each.

13th May 2005: Zigma Software Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 20, 2005, to discuss & consider on Splits of Stock of the Company.

14th May 2005: HCL Infosystems Ltd has informed BSE that the members of the Company will consider approving the following resolutions, by means of Postal Ballot:

1. Authorising the Board to sub-divide the existing 8,00,00,000 equity shares of Rs 10 each in the authorised share capital of the Company into 40,00,00,000 equity shares of Rs 2/- each & consequential amendment in the Memorandum & Articles of Association of the Company.

2. Authorising the Board to create, issue, offer and allot to or for the benefit of such person or persons as are in the permanent employment and the Directors (including whole-time Directors) of the Company at any time, equity shares of the Company and/or warrant (whether attached any securities or not) with an option exercisable by the holder of such Options to subscribe for equity shares or any securities convertible into equity shares at such price, in one or more tranches as the Board at its absolute discretion deem fit, whereby the exercise or conversion could give rise to the issue of no. of equity shares not exceeding in the aggregate of 33,35,487 no. of equity shares of Rs 10 each or equivalent to such number of equity shares adjusted for sub-division of the equity shares of the Company (excluding outstanding warrants and conversions, if any).

3. Authorising the Board to create, issue, offer and allot to or for the benefit of such person or persons as are in the permanent employment and the Directors (including whole-time Directors) of a subsidiary Company and a Holding Company at any time, equity shares of the Company and/or warrant (whether attached any securities or not) with an option exercisable by the holder of such Options to subscribe for equity shares or any securities convertible into equity shares at such price, in one or more tranches as the Board at its absolute discretion deem fit, whereby the exercise or conversion could give rise to the issue of no. of equity shares not exceeding in the aggregate of 33,35,487 no. of equity shares of Rs 10 each or equivalent to such number of equity shares adjusted for sub-division of the equity shares of the Company (excluding outstanding warrants and conversions, if any).

4. Amending the right in the Employee Stock Option Scheme 2000 of the Company in order to align the options granted to the proposed sub division of the equity shares, whereby each option granted would confer a right to one equity share of Rs 10/- each or its equivalent.

The Company has appointed Mr. R K Pandey, Former Executive Director of The Delhi Stock Exchange Association Ltd, as Scrutinizer for conducting the postal ballot process in a fair & transparent manner.

The Postal Ballot form duly completed should reach the scrutinizer on or before June 08, 2005. The Scrutinizer after completion of scrutiny will submit his report to the Chairman and Chief Executive Officer who will declare the results on June 13, 2005.

14th May 2005: Multi-Arc India Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 13, 2005, has considered & approved the issue of 50,58,880 Equity Shares on Right basis, to the existing Equity Shareholder at a price not exceeding Rs 30/- per share in the ratio of 1:1.

14th May 2005: Aditya International Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 19, 2005 to consider delisting of securities from Ahmedabad Stock Exchange (ASE).

14th May 2005: Electrical equipment maker Havells India has approved a bonus share issue in the ratio of one for every held, the company informed BSE on Thursday.

16th May 2005: Nagarjuna Construction Company Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 16, 2005, has recommended the sub-division of equity shares of Rs 10/- each into 5 Equity Shares of Rs 2/- each.

17th May 2005: Interlink Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 16, 2005, have approved to Split-up the Equity Shares of the Company. Every share holder holding 1 Equity share of Rs 10/- each will be allotted 10 equity shares of Rs 1/- each, subject to the approval of the shareholders at the Extra Ordinary General Meeting of the members to be held on June 07, 2005.

17th May 2005: Interface Financial Services Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held May 24, 2005, to consider the Split the nominal face value of the equity shares of the Company from Rs 10/- each fully paid-up to Rs 1/- each fully paid subject to the necessary approval of the Shareholders of the Company.

17th May 2005: Filmcity Media Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 26, 2005, inter alia, to consider Sub division of its equity shares pursuant to section 94 A & other applicable provisions, if any, of the Companies Act, 1956 that the existing 55,00,000 Equity Shares of Rs 10/- each to be sub divided into 5,50,00,000 Equity Shares of Rs 1/- each.

17th May 2005: Mazda Ltd today said it will allot five lakh equity shares as warrants to the promoter and private investors. The Board of Directors have approved the issue, offer and allotment of five lakh equity shares as warrants to the promoter and private investors at a convertible price of Rs 70 per share (Rs 10 face value + Rs 60 premium), subject to shareholders' approval, the company informed the Bombay Stock Exchange.

18th May 2005: Venus Remedies Ltd has informed BSE that the equity shares of the Company have been voluntarily delisted from Delhi, Jaipur & Ahmedabad Stock Exchanges.

18th May 2005: Hindustan Lever Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 29, 2005 has considered voluntary delisting of shares from Ahmedabad, Bangalore, Delhi, Calcutta, Cochin, Guwahati and Madras Stock Exchanges subject to the approval of the members at the forthcoming Annual General Meeting scheduled on June 24, 2005.

18th May 2005: Suryadeep Salt Refinery & Chemicals Works Ltd has informed BSE that the members at the Extra Ordinary General Meeting of the Company held today, have accorded to Split-up / subdivision of Equity Shares. Every shareholder holding one equity share of Rs 10/- each will be allotted ten equity shares of Rs l/- each.

19th May 2005: Kilburn Engineering Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on May 27, 2005, to consider the issue of equity shares on rights basis to the shareholders of the Company.

19th May 2005: Rockwool (India) Ltd has informed BSE that an Extra Ordinary General Meeting of the members of the Company will be held on June 11, 2005, to consider the proposal for delisting the equity shares of the Company from The Mumbai Stock Exchange Ltd, Mumbai (BSE) & Hyderabad Stock Exchange Ltd, Hyderabad (HSE).

19th May 2005: Diana Tea Company Ltd has informed BSE that the members at the Annual General Meeting of the Company held today have accorded splitting of equity shares of the Company from existing Rs 10 per shares to Rs 2 per share.

20th May 2005: Faze Three Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held tomorrow i.e. May 21, 2005, to consider sub-division of face value of its shares, into shares of smaller denomination.

21st May 2005: UCO Bank Ltd has informed BSE that an Annual General Meeting of the members of the Bank will be held on June 10, 2005, inter alia, to accord to the Board to delist the Bank's Equity shares from the Calcutta Stock Exchange Association Ltd (CSE) at Kolkata.

23rd May 2005: Agro Dutch Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on June 01, 2005, to consider the rights issue of the equity shares of the Company.

23rd May 2005: Faze Three Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 21, 2005, has approved the sub-division of existing equity shares of the face value of Rs 10/- each into 5 equity shares of the face value of 2 each, subject to the approval of the members and consequently amending Memorandum & Articles of Association of the Company.

23rd May 2005: The board of automobile parts maker JMT Auto will meet on May 28 to consider raising funds either through rights issue or by way of share offer, the Bombay Stock Exchange (BSE) said today.

24th May 2005: Hindustan Construction Company Ltd has informed BSE that the Equity shares of the Company has been voluntarily delisted from The Calcutta Stock Exchange Association Ltd (CSE).

25th May 2005: Textile manufacturer Aarvee Denims & Exports said today that it would make a preferential allotment of 3.37 million shares to a German development financial institution for $6.7 million. The sale at Rs 86 a share to Deutsche Investitions-und Entwicklungsgesllschaft mbH is part of a 4.5 million preferential allotment totaling Rs 38.7 crore ($8.9 million), the company told the Bombay exchange. The Ahmedabad-based company will allot 1.12 million shares to its founders at the same price, it said. Aarvee's board also approved an increase in its authorised share capital to Rs 50 crore from Rs 35 crore.

25th May 2005: Interface Financial Services Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 24, 2005, has approved a proposal to split the equity shares of the Company currently of the face value of Rs 10/- into 10 equity shares of the face value of Re 1/- each subject to the necessary approval of the members at the Extra Ordinary General Meeting of the Company scheduled to be held on June 25, 2005.

28th May 2005: Avance Technologies Ltd has informed BSE that a meeting of Board of Directors of the Company will be held on June 03, 2005, to consider to split the nominal face value of the equity shares of the Company from Rs 10/- each fully paid up to Rs 1/- each fully paid, subject to the necessary approval of the shareholder's of the Company.

30th May 2005: The board of directors of IOL Broadband at its meeting held on May 28, 2005, has approved the issue of equity shares on a preferential basis. According to a release issued by IOL Broadband to the BSE, the company is to issue upto 20 lakh equity shares of Rs 10/- each in one or more tranches to specified investors at a price of Rs 11/- per share.

The preferential issue of the equity shares shall be subject to necessary approvals of the shareholders of the company, the release said. The company also informed that the board of directors has resolved to convene an EGM of the shareholders of the company on June 24, 2005, the release further added.

31st May 2005: Vishal Exports Overseas Ltd. informed the National exchange today that its board would meet on June 14 to consider a bonus share issue and an issue of global depositary receipts or American depositary receipts.

31st May 2005: Appointment of ombudsmen, which is now in practice in banking and insurance sectors, may soon be extended to the capital market for speedy resolution of investor complaints. The JJ Irani Committee, set up to advise the government on the new company law, is expected to make such a recommendation. The committee will inform the government about the role of such arbitrators, as the market already has a regulator empowered to address investor grievances. It is part of a series of recommendations the committee is likely to make on investor protection.

The insurance ombudsman can address complaints about contracts of a maximum value of Rs 20 lakh and insurance companies have to honor the awards in three months. The banking ombudsman can resolve disputes between banks as well as a whole lot of customer complaints as common as delay in the payment of cheques.

The committee is also expected to recommend the introduction of insurance coverage for investors in listed companies. It remains to be seen how the committee justifies insuring investments in listed companies, which goes against the basic investment principle that return should be proportionate to the risk taken.

Also, it remains to be seen, who will pay the premia and whether such cover would be allowed for the entire investment or part of it. At present, deposits in banks can be insured for up to Rs one lakh.

The committee will tell the government that the level of protection should be different for different classes of investors. It will also tell the company affairs ministry to review the transfer of money from the Investor Education and Protection Fund to any fund other than the Consolidated Fund of India.

The committee is expected to recommend that the company affairs ministry, Sebi, RBI and stock exchanges should coordinate to protect investors. The panel is of the view that investor protection needs to be addressed in a separate chapter under the new Companies Act.

31st May 2005: Hotel Leelaventure said today that it has allotted 1.42 lakh equity shares on conversion of options received from Foreign Currency Convertible Bond holders. The hotel allotted 142,590 equity shares of Rs 10 each at a premium of Rs 142.50 per share on May 30, on conversion of options received from FCCB holders of face value of $0.5 million; it informed the Bombay Stock Exchange.

7th June 2005: The board of private sector Kotak Mahindra Bank Ltd. has approved the issue of bonus shares in the ratio of three for every two shares held, the bank told the stock exchanges today.

7th June 2005: Indo Rama Synthetics (India) Ltd has informed BSE that the equity shares of the Company have been delisted from the Calcutta Stock Exchange Association Ltd (CSE) w.e.f. April 25, 2005.

7th June 2005: Gujarat Borosil Ltd has informed BSE that the equity shares of the Company have been delisted from The Calcutta Stock Exchange Association Ltd (CSE).

8th June 2005: Avance Technologies said today that it will split shares of the company in 1:10 ratio. The Board of Directors of the company at its meeting held on June 3 has approved the split of equity shares of the company from one share of Rs 10 each fully paid-up to ten share of Rs 1 each, subject to necessary approvals of the shareholders, the company informed the Bombay Stock Exchange.

9th June 2005: Nicholas Piramal's Committee of Directors (Rights issue) has fixed the rights issue price at Rs 175 per share. According to a release issued by Nicholas Piramal to the BSE, the company would issue 1,90,01,600 equity shares of Rs 2 each at a premium of Rs 173 per share amounting to Rs 332.53 crore. The release further said that the rights issue would be in the ratio of 1:10 (one rights equity share for every 10 existing equity shares).

9th June 2005: The board of Mahindra & Mahindra Ltd, will meet on June 14 to consider a bonus share issue, it told the Bombay exchange today.

9th June 2005: Two block share deals worth $22 million in Bharti Tele-Ventures Ltd. were done early today on the BSE, trade data showed. The identity of the buyers and sellers in the deals of 4.3 million shares at 222 rupees each were not immediately known. A Bharti official said it was a "pure market transaction, and not related to the company's management".

Bharti, owned 32.81% by Singapore Telecommunications Ltd., has a market value of about $9.5 billion. It was the top traded stock on the Bombay exchange in early deals. Officials at private equity investor Warburg Pincus, which has been selling its holding over the past year, were not immediately available for comment. In March Warburg, which originally held 18.52% of Bharti, sold about 6% in record-sized deals for $561 million. ($1 = 43.52 rupees)

11th June 2005: Shalimar Productions Ltd on Friday said it will issue 2 crore equity shares and increase its authorised share capital to Rs 4 crore. The board of directors in a meeting on June 8, have approved the issue of 2 crore equity shares of Rs 1 each fully paid at a price of Rs 2.50 per share on preferential basis, the food processing company informed the Bombay Stock Exchange. The board has also approved the increase in authorised share capital of the company from Rs 2 crore (divided into 2 crore shares of Rs 1 each) to Rs 4 crore (divided into 4 crore shares of Rs 1 each), it said.

17th June 2005: ITC board has said that it will split its equity shares in 1:10 ratio (one ordinary share of the face value of Rs 10 into ten shares of Re 1 each) and issue bonus shares, subject to shareholders approval.

According to ITC release issued to the BSE, the board will issue bonus shares in the ratio 1:2 (i.e. one bonus share of Re 1 each for every 2 fully paid-up ordinary shares of Re 1 each).

The board has also approved increase in the authorised share capital of the company from Rs 300 crore (divided into 30 crore ordinary shares of Rs 10 each) to Rs 500 crore (divided into 500 crore ordinary shares of Re 1 each), the release added.

17th June 2005: Praj Industries Ltd has informed BSE that the Board of Directors of the Company at its meeting held on June 17, 2005, has recommended following actions for the approval of shareholders:

1. Issue of Bonus Shares @ 1 (One) share for every existing 1 (One) share.

2. Sub division of shares Existing Rs 10/- paid-up share to be subdivided into 5 shares of Rs 2/- paid up each.

3. Employees Stock Option Plan for the employees.

22nd June 2005: Standard Life, the Edinburgh-based mutual insurance company, has sold 4.9% stake in HDFC for Rs 1,017.60 crore (128 million pounds). The holding of Standard Life in HDFC after the sale has been reduced to 9.35%, Standard Life said in a release today.

Standard Life has two joint venture partnerships with HDFC - a life assurance company, HDFC Standard Life Insurance Company, in which it holds just under 15% and HDFC Asset Management Company in which it holds 49.9%.

Standard Life would be able to increase its share in the life insurance venture through this sale, and would do so immediately to the maximum level presently permitted by Indian laws, the release said.

"Standard Life expects to remain a major shareholder in one of India's best-known and most successful businesses. However, this share sale rebalances our holding and allows us to increase our direct interest in our insurance joint venture, which we believe has a great future", Sandy Crombie, group chief executive of Standard Life, said.

24th June 2005: The board of directors of Pioneer Embroideries, which met today, approved a proposal to issue bonus shares in the ratio of 1:2 i.e. one share for every two shares held. According to a release issued by the company to the BSE today, the record date will be decided later.

25th June 2005: NSE proposes to launch two sectoral indices, energy and pharmaceuticals, on July 1, 2005. Each index will have 10 stocks from the respective sectors. Stocks in the index are among the most liquid in terms of trading turnover and trading frequency. The shares selected in the index are rank highest in terms of market capitalisation. The index will be maintained by IISL.

The energy sector includes companies belonging to petroleum, gas and power sub sectors. The CNX Energy index will capture the capital market performance of the energy sector. The CNX Energy Index represents about 91% of the market capitalization and 80% aggregate turnover of the energy sector universe. The constituents of CNX Energy index are: BPCL, Gail, HPCL, IOC, NTPC, Neyveli Lignite, ONGC, Reliance Energy, Reliance Industries and Tata Power.

The CNX Pharma index will capture the capital market performance of the Pharmaceuticals sector. The CNX Pharma Index represents about 66 per cent of the market capitalization and 54 per cent aggregate turnover of the pharmaceuticals sector universe. The constituents of the CNX Pharma index are: Biocon, Cadila Healthcare, Cipla, Dr Reddy, Glaxosmithkline Pharmaceuticals, Nicholas Piramal, Ranbaxy Labs, Sun Pharma and Wockhardt.

28th June 2005: Apparel maker Zodiac Clothing Co. Ltd. today informed National Stock Exchange that its board would meet on July 5 to consider a bonus share issue.

28th June 2005: Software services firm Visesh Infotecnics has today informed Bombay Stock Exchange that its board would meet on July 1 to consider splitting its shares.

4th July 2005: Indian textiles manufacturer KSL And Industries Ltd. told the Stock Exchange, Mumbai on Monday its board would meet on July 9 to consider a stock split.

12th July 2005: Hindalco Industries Ltd today said that it will subdivide equity shares of the company in 1:10 ratio. The board of directors has approved the proposal of sub-division of the equity shares of the company from one share of the face value of Rs 10 each into 10 equity shares of the face value of Re 1 each, subject to shareholders approval, Hindalco informed the Bombay Stock Exchange. The board has decided to call an EGM of the shareholders on August 06, 2005, it added.

16th July 2005: Kirloskar Brothers Ltd on Saturday said it will issue bonus shares in the ratio of 2:1 to the shareholders. The company said in a filing with the BSE that its board of directors have approved the issue of bonus shares to the shareholders in the ratio 2:1, meaning two bonus equity shares of Rs two each against existing one equity share held.

The board has also decided to increase the authorised share capital of the company from Rs 20 crore to Rs 50 crore. As a result, the revised authorised share capital of Rs 50 crore would be divided into 25 crore equity shares of Rs two each. Further, the related clauses of memorandum and articles of association of the company will be amended, subject to shareholders approval, the filing said.

18th July 2005: Liberty Shoes will issue bonus shares in the ratio of 1:1. The board of directors, which met today, recommended issue of bonus shares in the ratio of 1:1 i.e. one bonus share for every share held, the company said in a release issued to the BSE today.

18th July 2005: According to a release issued by Orchid Chemicals & Pharmaceuticals to the BSE, the board has approved issue of bonus shares in the ratio of 1:2 (one bonus shares for every two shares held).

21st July 2005: ONGC looks set to buy back its 9.6% stake from IOC. IOC had, in turn, bought these shares from the government in 1998. The petroleum ministry is likely to give the nod to IOC to divest its stake which is estimated to fetch around Rs 12,000 crore — an appreciation of 7.5 times since IOC had acquired it in 1998. IOC had bought 13,7067381 equity shares of ONGC at a price of 162.3 per share totaling Rs 1,617 crore.

Petroleum minister Mani Shankar Aiyar said: “IOC’s proposal to sell its stake and ONGC’s offer to buy back should face no problems. The proposal can go through.” The estimated value of IOC’s holding in ONGC is based on the last six month’s average scrip price which has been around Rs 883.

Faced with a resource crunch, IOC has recently approached the ministry with a renewed proposal to sell its stake in ONGC to raise resources for its proposed capital investments. IOC had initially proposed to sell its stake in September last when the lock-in period on sale of the cross holdings was lifted.

Senior petroleum ministry officials said a final decision on the proposal was held back at that time given the government’s plans to restructure the oil companies. “We should have no problems in taking a decision now, as the Krishnamurthy committee has come in,” a senior official said.

IOC’s renewed offer to sell its holding in ONGC comes at a time when the company is planning to expand its overseas operations and diversify into upstream and downstream sectors. IOC has been facing a severe resource crunch in the past few months because of the losses it has suffered from its marketing operations. The company may end the first quarter of this fiscal with its lowest ever profit. It has planned major expansion projects and the continued losses from its marketing operations is beginning to affect its plans.

21st July 2005: The stock exchanges — The Stock Exchange, Mumbai (BSE) and National Stock Exchange (NSE) has informed all its trading members to ensure compliance in large transactions that are in form of block deals. The exchange said strict action will be taken, if any member violates rules and regulation of the Securities and Exchange Board of India (Sebi) and stock exchange and is caught doing negotiated deals in advance between the parties and then putting the deals through the stock exchange mechanism in a synchronised manner.

The warning from the exchanges comes after Sebi in its letter dated July 14, 2005 ordered exchanges to inform the members and listed companies not to indulge in unfair trading practices. Sebi’s letter to exchanges is following their observations as well as media reports that large transaction might have been executed by certain market participants with a motive to distort the fair price discovery in scrips. Sebi said such market practices do not appear to be in conformity with the guidelines and regulations of Sebi and stock exchanges. Meanwhile, BSE official decline to comment on whether they will be conducting an enquiry on the block deals that have taken place on the exchange.

22nd July 2005: The board of directors of Reliance Industries, which will meet on July 27, will consider a proposal to close the share buyback programme. This was announced in a release issued by the company to the BSE today.

8th August 2005: The members of Hindalco Industries at their EGM held on August 06, 2005, have approved the proposal of sub-division of the equity shares of the company. According to a release issued by Hindalco to the BSE, the company has approved the proposal to split one share of the face value of Rs 10/- each into 10 equity shares of the face value of Re 1/- each.

11th August 2005: The board of directors of Ahmednagar Forgings, which met today, approved a proposal to issue bonus shares in the ratio of 2:1 i.e. two bonus shares for every share held. This was announced in a release issued by the company to the BSE today. An EGM has been called on September 3, 2005 to clear the bonus issue, the release added.

12th August 2005: The Singapore-based Colgate-Palmolive(Asia) Pte, the wholly-owned subsidiary of New York-based Colgate-Palmolive Company is planning to buy 1,65,00,000 shares, constituting approximately 12% of the equity share capital, of Colgate-Palmolive(India) from Colgate-Palmolive Company. According to a release issued by Colgate-Palmolive (India) to the NSE today, the date of proposed acquisition is on or after August 18, 2005, and the mode of acquisition is inter-se transfer. "The proposed acquisition price is the prevailing market price on the date of acquisition," the release added.

13th August 2005: BSE is all set to become Bombay Stock Exchange Ltd on August 19, after getting the approval by its members at its annual general meeting (AGM) on August 18.

BSE on Friday issued a notice to its members for the AGM scheduled for 5 pm on August 18, where the dissolution of the stock exchange in its present form of an association of members, paving way for commencement of business under clause-11 of its corporatisation scheme as approved by the Securities and Exchange Board of India.

16th August 2005: Sensex: During the whole week after considerable battle the sensex gained 12 points, NVS brokerage feel that it can be in downward trend.

23rd August 2005: NSE has stopped trading in its F&O segment until further orders due to the slow pace of trade confirmation on Monday. Trading in F&O was stopped at 11.25 am after request by members as they were facing problem due to slowing down of the confirmation process, NSE sources said. It (trading) will be started shortly with a pre-open period.

11th October 2005: Astra Microwave Products Ltd has informed BSE that the OTC Exchange of India, vide their letter dated October 05, 2005, has approved the Voluntary Delisting of shares of the Company with effect from September 26, 2005.

3rd November 2005: The Delhi Stock Exchange is likely to pass a resolution in order to transfer all shares of the exchange to an escrow account, most likely with HDFC Bank. A group of prominent members would operate the account.

The exchange has proposed that all registered shareholders sell 51% of their one share of Rs 2,000 each. These proposals are likely to be ratified at the DSE’s extraordinary general meeting on November 14.

As per a notice issued by the DSE to its members, “All the registered share-holders/members of the exchange including the shareholders whose shares are vested in the exchange do hereby agree to sell 51% of their one share of Rs 2,000 each which is proposed to be split into 2,000 equity shares of Rs 1 each in the share capital of the exchange, i.e. 1,020 equity shares of Re 1 each for a sale consideration of Rs 10 lakh and above payable in cash or kind as may be decided by the board of directors of the exchange.”

The notice further adds that all registered shareholders/members of the exchange including the shareholders whose shares are vested in the exchange be and are entitled to offer any number of shares up to 100% of their share to the acquirer and will get the sale consideration for the shares offered and accepted by them, but in case if the number of shares offered by the members exceed the requirement of the acquirer then such shares would be accepted in proportion to the total shares offered or in many manner as may be decided and approved by the board of directors of the exchange.

Meanwhile, a senior member of the DSE said that for a smooth functioning of the exchange, new and innovative products must be introduced. Alternative trading platform must be developed for companies not listed on Bombay Stock Exchange and National Stock Exchange.

Over 3,000 companies are listed on DSE. In 2004-05, three companies were listed on the exchange while 429 have been delisted. As per DSE data, the number of companies seeking delisting from the exchange has substantially reduced and only 16 have been actually delisted since April 1, 2005.

4th November 2005: The Bombay Stock Exchange is considering picking up a stake in the Calcutta Stock Exchange, the country’s oldest bourse, when it is put on the block for divesting 51% of its stake to reduce brokers’ rights. “We are working on how to make the business volume of BSE grow. We may consider taking a stake in CSE if we find business prospects,” said Rajnikant Patel, BSE executive director and CEO. He, however, said that a final decision has not been taken. “We will take a final decision after analysing if it makes business sense.”

Consolidation of regional stock exchanges was widely expected and even the Securities and Exchange Board of India (Sebi) chairman M Damodaran had earlier indicated that mergers and consolidation of stock exchanges were expected. The Federation of India Stock Exchanges was trying out a proposal of consolidation of regional stock exchanges and formation of Indonext.

Divestment of stock exchanges would be done mandatorily to comply with the guidelines issued by the capital market watchdog Sebi. Sebi wants to delink the member brokers’ right of trading and right of ownership of stock exchanges. This reform had been introduced taking a cue from the success story of the National Stock Exchange and will help curb manipulations in the market.

Sebi appointed CSE administrator T K Das had said that the process of divesting the 51% stake would start after a memorandum was passed by members at an AGM before November end this year. “We are presently working towards passing the memorandum that will clear the new structure of the bourse and after that we will take up the issue of divesting stake,” Das said.

Demutualisation of CSE has been cleared by the members in July at an extraordinary general meeting. In the past, the local bourse had been planning to offer the 51% stake to banks. The names of banks floating around were the State Bank of India, Allahabad Bank, UCO Bank and United Bank of India. According to estimates, the face value of 51% stake was at Rs 40 crore.

5th November 2005: National General Industries Ltd has informed BSE that the members at the 19th Annual General Meeting (AGM) of the Company held on September 30, 2005, inter alia, have passed a resolution for de-listing of equity shares of the Company from the following Stock Exchanges:

1. The Stock Exchange, Ahmedabad.

2. The Jaipur Stock Exchange Association Ltd., Jaipur.

3. The Delhi Stock Exchange Association Ltd.

1st December 2005: Ratnakar Bank Ltd on Wednesday said it will issue equity shares on rights basis to the shareholders in 1:1 ratio. The shareholders at the EGM, has approved the issue of equity shares of Rs 100 each, on rights basis to the company shareholders in 1:1 ratio, the Bank informed the Bombay Stock Exchange. The Bank will also increase its authorised share capital to Rs 300 crore from Rs 60 crore, it said.

1st December 2005: Nirma Ltd, a manufacturer of detergents, on Wednesday said it will split equity shares of the company in 1:2 ratio. The shareholders at the EGM approved the split of equity shares in the ratio of 1:2 under which every Nirma shareholder with one equity share of Rs 10 fully paid up would get two equity shares of Rs 5 each fully paid up, the company informed the Bombay Stock Exchange. The EGM has considered and approved the composite scheme of compromise and arrangement between Core Healthcare Limited (CHL) and Nirma Limited, whereby one equity share of Rs 5 each of Nirma would be allotted for eighty equity shares of Rs 10 each held in CHL, it said. Also one equity share of Rs 5 each of Nirma would be issued for 235 partly paid up equity shares of Rs 10 each held in CHL, it added.

29th December 2005: Steel Authority of India (SAIL) on Wednesday informed the stock exchanges that it had delisted its shares voluntarily from Calcutta Stock Exchange (CSE). Many blue-chip companies are delisting shares from regional stock exchanges due to lack of trading volumes and presence of National Stock Exchange and the Bombay Stock Exchange Ltd.

4th March 2006: ACE Software Exports Ltd has informed BSE that the equity shares of the Company have been delisted from the Ahmedabad Stock Exchange Ltd (ASE) w.e.f. February 27, 2006.

4th March 2006: Super Forgings & Steels Ltd has informed the Exchange that the Shareholders of the Company in the AGM held on December 23, 2005 have decided to delist the shares from Calcutta and Bombay Stock Exchange.

28th March 2006: The board of directors of Hindustan Dorr Oliver has approved a stock split in the ratio of 1:5. According to a release issued by Hindustan Dorr to the BSE today, the company's board yesterday approved a proposal to sub-divide its existing equity shares with the face value of Rs 10 each into five equity shares of Rs 2 each.

1st April 2006: The board of directors of Kalpataru Power Transmission today approved a bonus issue in the ratio of 1:1, i.e. one free share for every shareholder holding a share. According to a release issued by Kalpataru to the BSE, the company's board today also approved a proposal for raising $75 million from local or overseas markets.

1st April 2006: Sun Pharmaceutical Industries Ltd has informed BSE that the Committee of Directors of the Board of the Company at its meeting held on March 31, 2006, has allotted 216,007 Equity Shares of Rs 5 each of the Company at a premium of Rs 724.30 per share upon exercise of option of conversion for 3500 Zero Coupon Foreign Currency Convertible Bonds of US $ 1000 each (FCCB) into Equity Shares of the Company by certain FCCB Holders.

Consequently, the paid up Equity Share Capital of the Company has increased from 185,515,630 equity shares to 185,731,637 equity shares of Rs 5/- each, as of date.

7th April 2006: The board of Infosys Technologies Ltd, India's second-largest software services exporter, will consider issuing bonus shares at its meeting on April 14, the company said. The Nasdaq-listed company is also scheduled to announce its January-March quarterly results on the same day, the company said in a notice to the National Stock Exchange on Thursday.

8th April 2006: India's central bank has barred further purchases of ICICI Bank shares by overseas investors since their holding has reached the permitted 74%. "ICICI Bank has reached the limit of 74% of its paid up capital," a press release posted on the central bank's website rbi.org.in said. Policy makers set a ceiling on foreign holdings in various sectors and companies set their own limit within the overall ceiling. For ICICI, the limit is similar to the ceiling set for the sector.

12th April 2006: MphasiS BFL said on Wednesday that the company's board had decided not to proceed with the share buyback proposal in view of EDS' open offer.

19th April 2006: Kirloskar Brothers Ltd on Tuesday declared a 100% final dividend for the financial year ended March 31, 2006. The board of directors has recommended a final dividend at Rs 2 per shares for the fiscal ending March 31, 2006, Kirloskar Brothers informed the Bombay Stock Exchange.

19th April 2006: TCS has posted 76.38% growth in net profit at Rs 832.12 crore for the quarter ended March 31, 2006, against the corresponding previous quarter’s Rs 471.77 crore. Total income during the period went up by 43.85% to Rs 3,709.21 crore from Rs 2578.52 crore in the same period last year.

The company's consolidated results according to the US GAAP showed that its net profit went up by 50% to Rs 2,966.75 crore in 2005-06 after posting a 36% per cent rise in total income at Rs 13,252.15 crore. The income growth of 36% was more than the industry average.

Buoyed by the good show, the company announced its maiden 1:1 bonus ratio, which means shareholders will get one bonus share for every equity share they hold.

The company also announced final dividend of Rs 4.50 per share, taking the total dividend to Rs 13.50 for 2005-06. The face value of the TCS stock is Re 1.

Earnings per share (EPS) stood at Rs 15.74 at the end of the quarter ended March 2006. EPS for 2005-06 increased to Rs 60.63 from Rs 42.02 in 2004-05.

S Ramadorai, CEO and Managing Director, said, “An outstanding performance in the fourth quarter has rounded off a defining year for the company, marked by large deals, strategic acquisitions, expansion in size and its transformation into a global corporation."

He added that the company was poised for "valuable growth opportunities" and it had the "right structure and leadership globally to take advantage of the tremendous opportunity."

TCS plans to add 30,500 people in this financial year. It made 9,200 offers for new recruits in various campuses. Its active customers at the end of the fourth quarter stood at 748, of which 89 were added in the quarter.

21st April 2006: The Mukesh Ambani-led Reliance Industries is believed to be considering a stock split, according to sources.

Although a timeline has not been drawn for this, one of the options the company is believed to be considering is to split the stock in the ratio of 1:2 or even 1:4, like many IT giants have done in the past, sources said. A stock spit involves reducing the face value of a share, thus increasing the number of shares. The RIL stock, which still has an Rs 10 face value, could be split into two shares of face value Rs 5, or 10 shares of face value Re 1.

A company spokesperson, however, denied any such plans. “This is pure rumour. Though it may look logical for us to go for a stock split— with the stock at Rs 900/1,000 levels— there is actually no strong case for us to do that. The dynamics of RIL are far different from that of tech majors,” he added.

RIL currently has a market cap of over Rs 1.10 lakh crore. Several theories are doing the rounds on why RIL might wish to go in for a stock split. It would increase the share float, and with a proportional fall in the share price, the stock split would further bolster retail shareholder participation.

With the stock zooming close to the Rs 1,000 level, RIL chairman Mukesh Ambani is reportedly keen to ensure that RIL remains a company with the largest pool of retail shareholders. Sources said the scrip touching the 1k level could well be the trigger point to start the process. There is, however, no confirmation of this.

27th April 2006: Mukesh Ambani-controlled Reliance Industries is not planning to issue bonus shares or splitting shares. Reliance, in a release issued to the BSE, said, "At present, there are no such proposals being discussed by the board of directors of the nature stated in some media reports."

27th April 2006: The board of directors of Godrej Consumer Products, which met today, approved a proposal to split stock in 1:4 ratio i.e one share of Rs 4 each would be split into four shares of Re 1 each. This was announced in a release issued by the company to the BSE today.

28th April 2006: Sebi's order of barring Karvy as a registrar for new issues will not affect IPO of Reliance Petroleum.

Though Karvy has been barred from acting as a registrar for new IPOs, it will not affect RPL IPO as it has already happened; sources in Reliance Industries said.

In perhaps the largest ever oversubscription of a public issue in recent times, Mukesh Ambani-controlled Reliance Petroleum has received share applications for an unprecendent 49.72 times more than the size of its IPO.

3rd May 2006: The Andhra Pradesh high court on Tuesday gave a breather to Karvy Stock Broking Ltd and allowed it to open fresh demat accounts. It also placed an interim suspension on Sebi’s April 27 interim order asking Karvy’s clients to shift their demat accounts to some other depository participant (DP) within 15 days.

Karvy is the largest DP with 7.5 lakh demat accounts across the country.

The high court ruling came in response to a Karvy petition against Sebi’s interim order. Karvy contested the order on the grounds that the regulator does not have jurisdiction under the Sebi Act and the Depositories Act, 1996 to give such an order. It also contested the delegation of such an order by a single member of Sebi.

G Anantharaman, whole-time director of Sebi, who passed the 252-page interim order refused to comment stating the matter was sub-judice.

When contacted, C Parthasarathy, chairman, Karvy group, who was in Mumbai said, “Having not read the court order , all I can say is investors need not worry about shifting their DP accounts.”

Karvy’s counsel S Venkatramana said Karvy would submit its objections to Sebi on Wednesday. It was now upto Sebi to respond to the high court order, he said.

The court’s interim suspension will continue till the market regulator modifies its order or passes a final order.

Sebi, vide its ex-parte ad interim order dated January 12, had already directed two DPs, Karvy and Pratik not to open new demat accounts till further notice. On April 27, Sebi followed this up and barred 24 key operators including Indiabulls from the market. Twelve DPs were barred from opening fresh accounts for their involvement in the Yes Bank and IDFC IPO scam. It gave them 15 days to file objections.

Following Indiabulls’ clarification submitted to Sebi on April 28, the market regulator kept its order against Indiabulls in abeyance. Sebi also clarified the same day that the ban applied only to proprietary trades and not to trades on behalf of clients.