SEBI July 2011 Bulletin

JULY 2011 VOL. 9 NUMBER 07

EDITORIAL COMMITTEE

[email protected]

http://www.sebi.gov.in

[email protected]

lMr. Ananta Barua

lMr. J. Ranganayakulu

lProf. G. Sethu

lMr. Nagender Parakh

lDr. Anil Kumar Sharma

The Securities and Exchange Board of India Bulletin is issued by the

Department of Economic and Policy Analysis, Securities and Exchange

Board of India under the direction of an Editorial Committee. SEBI is

not responsible for accuracy of data/information/ interpretations and

opinions expressed in the case of signed articles/speeches as authors are

responsible for their personal views. SEBI has no objection to the

material published herein being reproduced, provided an

acknowledgement of the same is made. This monthly Bulletin is

normally published in the third week of the succeeding month. The soft

copy of SEBI Bulletin is available free of cost to the subscribers/readers,

who register at along with their complete address. A

readable version of SEBI Bulletin is available at .

Any comments and suggestions on any of the features/ sections may be

sent to .

Contents Page

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CAPITAL MARKET REVIEW

PRESS RELEASES

A. General

1. Grant of Exemption for the Proposed Acquisition of Shares in M/s. Indus Fila Ltd.

2. Grant of Exemption for the Proposed Acquisition of Shares in M/s. Pasupati Acrylon Ltd .

3. Grant of Exemption for the Proposed Acquisition of Voting Rights of M/s. Bhagyanagar India Ltd.

4. Shareholding of Promoter / Promoter Group to be in Dematerialized Mode

5. Discussion Paper on Continuing Professional Education

6. SEBI Complaints Redress System (SCORES)

Order

1. Order in Respect of M/s. Pankaj Agro Protinex Ltd. and its Directors

2. Orders Against M/s. CFL Securities Ltd. and M/s. Tropical Securities and Investment Private Ltd. in the Matter of M/s. Jagsonpal Pharmaceuticals Ltd.

3. Order against M/s. C.R. Jain & Co.

4. Order in Respect of M/s. Kanel Oil & Export Industries Ltd. and its Directors

5. Order in the Matter of Application Dated June 11, 2009 Made by M/s. Infomerics Valuation and Rating Pvt. Ltd. for Grant of Registration as a Credit Rating Agency

6. Order against M/s. Credent Portfolio Management Private Ltd. and its Directors, Mr. Amaranjay Kumar and Mr. Mrityunjay Kumar

7. Order in Respect of M/s. Macy Securities Private Ltd. in the Matter of M/s. Balaji Industrial Corporation Ltd.

8. Order in the Matter of M/s. Balaji Industrial Corporation Ltd.

9. Order in the Matter of Issuance of Optionally Fully Convertible Debentures (OFCDs) Issued by M/s. Sahara India Real Estate Corporation Ltd. (SIRECL), now known as M/s. Sahara Commodity Services Corporation Ltd. and M/s. Sahara Housing Investment Corporation Ltd. (SHICL)

Consent Order

1. Consent Order on the Applications Submitted by M/s. ATN International Ltd., Mr. Santosh Kumar Jain, Mr. Arihant Jain, Mr. Kishan Kumar Khadar A, Mr. Santosh Kumar Lahoti and M/s. Silicon Valley Infotech Ltd. in the Matter of M/s. ATN International Ltd.

2. Consent Order on the Application Submitted by M/s. Kredence Multi Trading Ltd. in the Matter of M/s. Uttam Galva Steels Ltd.

3. Consent Order on the Application Submitted by M/s. Sainath Trading Company Pvt. Ltd. in the Matter of M/s. Uttam Galva Steels Ltd.

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4. Consent Order on the Application Submitted by M/s. Archisha Investments Pvt. Ltd. in the Matter of M/s. Uttam Galva Steels Ltd.

5. Consent Order on the Application Submitted by M/s. Reliance Securities Ltd.

6. Consent Order on the Application Submitted by M/s. Premier Shares Ltd.

7. Consent Order in the Matter of M/s. Tech Trek India Ltd.

8. Consent Order in the Matter of Dr. Wellman's Homeopathic Laboratory Ltd.

Circular

1. Liquidity Enhancement Schemes for Illiquid Securities in Equity Derivatives Segment

2. Redemption of Indian Depository Receipts (IDRs) into Underlying Equity Shares

3. Processing of Investor Complaints against Listed Companies in SEBI Complaints Redress System (SCORES)

4. Periodical Report – Grant of Prior Approval to Members of Stock Exchanges/Sub-brokers

5. Pre- funded Instruments / Electronic Fund Transfers

6. Reporting of Offshore Derivative Instruments (ODIs)/Participatory Notes(PNs) Activity

7. Modification to Investor Protection Fund (IPF)/ Customer Protection Fund (CPF) Guidelines

8. Change of Name by Listed Companies

9. Standardisation of Rating Symbols and Definitions

10. Shareholding of Promoter / Promoter Group to be in Dematerialized Mode

11. Periodical Report- Grant of Prior Approval to Underwriters

12. Periodical Report- Grant of Prior Approval to Merchant Bankers

13. Periodical Report- Grant of Prior Approval to Registrars to an Issue and Share Transfer Agents

14. Periodical Report- Grant of Prior Approval to Debenture Trustees

15. Periodical Report- Grant of Prior Approval to Bankers to an Issue

16. Periodical Report- Grant of Prior Approval to Depository Participants

17. Periodical Report- Grant of Prior Approval to Credit Rating Agency

18. Review of Internet Based Trading (IBT) and Securities Trading using Wireless Technology (STWT)

ORDER PASSED BY ADJUDICATING OFFICER AND CHAIRMAN/MEMBERS

HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKET

ANNEXURES

PUBLICATIONS

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CAPITAL MARKET REVIEW

JULY SEBI BULLETIN 2011

1. Trends in Primary Market

A. Equity and Debt Issue

During June 2011, ` 1,195.6 crore was mobilised in channel, one issue of amount ` 1,000 crore was

the primary market through seven issues as through debt public issue and three issues of amount

compared to ` 4,781.1 crore mobilised through five ` 55.1 were rights issues. The cumulative mobilised

issues in May 2011, showing a decrease of 75.0 amount for the financial year 2011-12 so far, stood at

percent over the month. Of the seven issues, four ` 8,000.2 crore through 18 issues as against 12,564.2

issues were mobilised through public issues, of crore through 19 issues during the corresponding

which three issues (` 140.6 crore) were through IPO period in 2010-11.

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Table 1: Primary Market Trends

Figure 1 : Primary Market (Equity Issues) Trends through Public and Rights Issues (` crore)

3,6182,962

1,540

4,802

17,673

10,274

1,557

742

5,562

2,026

Jan-

11

Ju0

l-1

Aug

-10

Sp-

10e Oct

-10

Nv-

10o

Dec

-10

Feb-

11

aM

r-11 -1

Apr

1

My-

1a

1

Ju-1n

1

4,781

196

1 2 3 4 5 6 7 8 9

a) Public Issues (i) +(ii) 4 1,140.6 5 4,781.1 15 7,945.2 15 9,927.2

i) Public issue (Equity) 3 140.6 5 4,781.1 14 6,945.2 14 9,427.2

of which

IPOs 3 140.6 4 202.9 13 2,367.0 10 6,790.2

FPOs 0 0.0 1 4,578.2 1 4,578.2 4 2,637.0

ii) Public Issue (Debt) 1 1,000.0 0 0.0 1 1,000.0 1 500.0

b) Rights Issues 3 55.1 0 0.0 3 55.1 4 2,637.0Total Equity Issues (i+b) 6 195.6 5 4,781.1 17 7,000.2 18 12,064.2

Total (a + b) 7 1,195.6 5 4,781.1 18 8,000.2 19 12,564.2

Amount

(` crore)

No. of

Issues

Amount

(` crore)

Items

Jun-11 May-11 2011-12$ 2010-11$

No. of

Issues

Amount

(` crore)

No. of

Issues

Amount

(` crore)

No. of

Issues

IPOs imply Initial Public Offers, FPOs imply Follow on Public Offers. NCD implies Non Convertible Debenture. $ As on June 30.

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In June 2011, one listed company raised capital of for the financial year 2011-12, so far, stood at ` 568

` 513 crore from Primary Market through QIP crore through two issues (which are listed at either

BSE or NSE) (details in Annexure- Table 3).channel as against 55 crore was also raised by single

issue in May 2011. The cumulative mobilised amount

B. QIPs Listed at BSE and NSE

C. Preferential Allotments Listed at BSE and NSE

There were 22 preferential allotments (` 1,689 crore) financial year 2011-12, so far, stood at 16,396 crore

listed at BSE and NSE during June 2011 as compared through 77 preferential allotments (of which 34

to 25 preferential allotments (` 5,931 crore) in May allotments amounting ` 13,001 crore listed at both

2011. The cumulative mobilised amount for the BSE and NSE) (details in Annexure- Table 1B).

D. Private Placement of Corporate Debt Reported to BSE and NSE

In the corporate debt market, ` 19,022 crore was ` 51,258 crore through 388 issues (of which 213

raised through 119 issues by way of private issues of ` 35,236 crore reported to only NSE, 173

placement listed at BSE and NSE during June 2011 issues of ` 11,373 crore reported to only BSE and

compared to ` 13,598 crore was raised through 114 two issues of ` 4,650 crore reported to both at BSE issues in May 2011. The cumulative privately placed and NSE) (details in Annexure- Table A4). amount for the financial year 2011-12, so far, stood at

E. Resource Mobilisation by Mutual Funds

In June 2011, mutual funds liquidated 62,442 crore 2011-12, so far, mutual funds mobilised ` 73,039

(of which ` 43,925 crore was liquidated by private crore as compared to ` 49,406 crore liquidated in

2010-11. The market value of assets under sector mutual funds and 7,283 crore was liquidated

by public sector mutual funds) as compared to m a n ag e m e nt stood ` 6,73,176 crore as on June 30,

` 48,850 crore liquidated (of which ` 41,712 crore 2011 as compared to ` 7,31,448 crore as on May 31,

was liquidated by private sector mutual funds and 2011, indicating a decrease of 8.0 percent (details in

Annexure-Table 35). ` 7,137 crore was liquidated by public sector mutual

funds) during May 2011. During the financial year

II. Trends in the Secondary Market

BSE Sensex closed at 18845.9 on June 30, 2011, as 2011, Sensex recorded an intraday high of 18873.4

against 18503.3 on May 31, 2011, registering an on June 30, 2011 and an intraday low of 17314.4 on

increase of 342.6 points (1.9 percent). During June June 20, 2011.

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S&P CNX Nifty closed at 5647.4 on June 30, 2011 2011, Nifty recorded an intraday high of 5657.9 on

compared to with 5560.2 on May 31, 2011, indicating June 30, 2011 and an intraday low of 5195.9 on June

an increase of 87.3 points (1.6 percent). During June 20, 2011.

Figure 2 : Movement of Sensex and Nifty

Table 2: The Basic Indicators in Cash Market

The P/E ratio of BSE Sensex was 19.9 as on June 30, of S&P CNX Nifty was 20.8 as on June 30, 2011 as

2011 as against 19.7 on May 31, 2011. The P/E ratio against 20.5 on May 31, 2011.

Sensex Nifty

Sen

sex

Nif

ty

6500

6000

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4500

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Particulars 2009-10 2010-11 2011-12$ May-11 Jun-11

Percentage

change over

the previous

month

1 2 3 4 5 6 7

BSE Sensex 17527.8 19445.2 18845.9 18503.3 18845.9 1.9

S&P CNX Nifty 5249.1 5833.8 5647.4 5560.2 5647.4 1.6

BSE 61,65,619 68,39,084 67,30,947 67,31,869 67,30,947 -0.01

NSE 60,09,173 67,02,616 65,74,743 65,69,743 65,74,743 0.1

BSE 13,78,809 11,05,027 1,88,168 59,494 59,337 -0.3

NSE 41,29,214 35,77,410 6,84,682 2,33,876 2,22,457 -4.9

BSE Sensex 21.3 21.2 19.9 19.7 19.9 1.5

S&P CNX Nifty 22.3 22.1 20.8 20.5 20.8 1.4

A. Indices

B. Market Capitalisation ( ` crore)

C. Gross Turnover ( ` crore)

D. P/E Ratio

$ as on June 31, 2011. Source: BSE and NSE.

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Figure 3: Monthly Average of BSE Turnover and Sensex

The market capitalisation of BSE decreased by 0.01 market capitalisation of NSE, stood at ` 65,74,743

percent from 67,31,869 crore as on May 31, 2011 to crore as on June 30, 2011 compared to ` 65,69,743

` 67,30,947 crore as on June 30, 2011. Further, the crore as on May 31, 2011, an increase of 0.1 percent.

Figure 4 : Monthly Average of NSE Turnover and Nifty

The monthly turnover of BSE (cash segment) monthly turnover of NSE (cash segment) decreased

decreased by 0.3 percent from ` 59,494 crore in May by 4.9 percent from ` 2,33,876 crore in May 2011 to

2011 to ` 59,337 crore in June 2011. Similarly, the ` 2,22,457 crore in June 2011.

Ave

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3,000

2,000

Average Daily Turnover Average Daily Value of Sensex

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5,13

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5,04

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3,49

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3,44

1

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19,000

17,000

15,000

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-10

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0

Feb-

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A Ma

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Jun-

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Feb-

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Mar

1-1 r

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May

-1

Jn-

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4500

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5500

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6500

7000

6,000

9,000

12,000

15,000

18,000

21,000

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Average Daily Turnover Average Daily Value of Nifty

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08 17,1

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13,4

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13,3

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10,6

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10,6

312,

697

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At the end of June 2011, among BSE indices, BSE Nifty Junior Index (1.8 percent) and CNX Mid-cap Capital Goods increased by 6.2 percent over its Index (1.2 percent) respectivelyprevious month’s closing value followed by BSE During June 2011, among BSE indices, the daily FMCG Index (4.9 percent), BSE Bankex Index (2.2 volatility of BSE Consumer Durables Index was 1.5 percent), BSE Sensex Index (1.9 percent), BSE Teck percent, followed by BSE Metal Index (1.2 percent), Index (1.9 percent), BSE Consumer Durables Index BSE Oil & Gas Index (1.2 percent), BSE FMCG (1.6 percent), BSE 100 Index (0.9 percent), BSE 200 Index (1.1 percent), BSE Capital Goods Index (1.1 Index (0.6 percent), BSE 500 Index (0.4 percent) and percent), BSE Teck Index (1.1 percent), BSE Sensex BSE Healthcare Index (0.1 percent) respectively. Index (1.0 percent), BSE Bankex Index (1.0 percent), However, BSE Oil & Gas Index decreased by 4.0 BSE Small cap Index (1.0 percent), BSE Auto Index percent over the previous month closing level, (1.0 percent), BSE PSU Index (1.0 percent), BSE 100 followed by BSE Metal Index (2.3 percent), BSE Index (0.9 percent), BSE 200 Index (0.9 percent), Auto Index (1.5 percent), BSE Small Cap Index (1.0 BSE 500 Index (0.9 percent) and BSE Healthcare percent) and BSE PSU Index (0.5 percent), Index (0.8 percent), respectively. At NSE, among all respectively. At NSE, S&P CNX Defty Index the indices daily volatility of CNX IT Index was 1.3 increased by 2.4 percent over its previous month’s percent, followed by Bank Nifty Index (1.1 percent), closing value followed by Bank Nifty Index (2.0 S&P CNX Defty Index (1.1 percent), Nifty Mid-cap percent), S&P CNX Nifty Index (1.6 percent), CNX 50 Index (1.0 percent), S&P CNX Nifty Index (1.0 IT Index (1.3 percent), CNX 100 Index (1.0 percent) percent), CNX 100 Index (0.9 percent), S&P CNX and S&P CNX 500 Index (0.7 percent), respectively. 500 Index (0.9 percent), CNX Nifty Junior Index (0.9 However, Nifty Mid-cap 50 Index decreased by 3.6 percent) and CNX Mid-cap Index (0.9 percent), percent during the same period, followed by CNX respectively.

Table 3: Performance of Indices at BSE and NSE during June 2011 (Percent)

Source: BSE and NSE.

Index Change over

Previous monthVolatility Index

Change over Previous month

Volatility

1 2 3 4 5 6

BSE Sensex 1.9 1.0 S&P CNX Nifty 1.6 1.0BSE 100 0.9 0.9 CNX Nifty Junior -1.8 0.9

BSE 200 0.6 0.9 S&P CNX 500 0.7 0.9

BSE 500 0.4 0.9 CNX Mid-cap -1.2 0.9BSE Small Cap -1.0 1.0 CNX 100 1.0 0.9

BSE FMCG 4.9 1.1 S&P CNX Defty 2.4 1.1

BSE Consumer Durables 1.6 1.5 CNX IT 1.3 1.3BSE Capital Goods 6.2 1.1 Bank Nifty 2.0 1.1

BSE Bankex 2.2 1.0 Nifty Mid-cap 50 -3.6 1.0

BSE Teck 1.9 1.1BSE Oil & Gas -4.0 1.2

BSE Metal -2.3 1.2

BSE Auto -1.5 1.0

BSE PSU -0.5 1.0BSE Healthcare 0.1 0.8

BSE NSE

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IV. Trends in the Derivatives Segments

A. Equity Derivatives at NSE

The total numbers of investor accounts were 117.2 comparison with corresponding period of previous

lakh at NSDL and 76.0 lakh at CDSL at the end of year shows, there was an increase in the number of

June 2011. The number of investor accounts in June investor accounts to the extent of 9.6 percent at

2011 increased by 0.6 percent at NSDL and by 0.5 NSDL and 12.4 percent at CDSL (details in

percent at CDSL over the previous month. A Annexure- Table 39).

III. Trends in Depository Accounts

The monthly total turnover in equity derivative ` 18,214 crore in June 2011. The monthly turnover market at NSE decreased by 6.4 percent from of call options on stock decreased by 5.2 percent

` 26,05,138 crore in May 2011 to 24,38,177 crore in from 50,101 crore in May 2011 to 47,520 crore in June 2011. The monthly turnover of index futures June 2011.

also decreased by 13.3 percent from 3,05,745 crore The open interest in value terms in equity derivative in May 2011 to ` 2,65,178 crore in June 2011. segment decreased by 18.4 percent from ` 1,12,112 Further, the monthly turnover of stock futures crore as on May 30, 2011 to 91,467 crore as on June decreased by 4.2 percent from ` 3,36,689 crore in 30, 2011. The open interest in value terms in equity May 2011 to 3,22,695 crore in June 2011. derivative segment for Index Futures, Stock Futures,

Put Options on Index, Call Options on Index, Put In addition, the monthly turnover of put options on Options in Stock and Call Options on Stock at the index decreased by 1.1 percent from 8,65,584 crore end of June 2011 stood at ` 13,511 crore, ` 30,152 in May 2011 to ` 8,56,038 crore in June 2011. The crore, ` 24,898, ` 20,931 crore, ` 601 crore and monthly turnover of call options on index decreased

` 1,373 crore respectively, with a corresponding by 9.6 percent from 10,27,313 crore in May 2011 to growth rates of -11.8 percent, -2.7 percent, -29.5 ` 9,28,533 crore in June 2011.Further, the monthly percent, -23.3 percent, -39.2 percent and -36.7 turnover of put options on stock also decreased by percent as compared to June 31, 2011.7.6 percent from ` 19,707 crore in May 2011 to

Figure 5 : ` crore)Trends of Equity Derivative Segment at NSE (

Mon

thly

Tu

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Ave

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Tor

nov

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Monthly Turnover Average Daily Tornover

50,000

70,000

90,000

1,10,000

1,30,000

1,50,000

1,70,000

10,00,000

15,00,000

20,00,000

25,00,000

30,00,000

35,00,000

18,2

9,91

0

20,5

3,72

8

27,3

6,39

2

28,2

4,49

3

29,6

5,84

6

23,5

7,10

9 28,4

1,83

4

29,2

9,29

5

28,7

7,90

0

23,5

1,30

0

26,0

5,13

8

24,3

8,17

7

Jn-

11aJu

l-10

Agu-1

0

Se-

0p1

Oct

-01

Nov

-10

ecD

-10

Feb-

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ar1

-A

pr11

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-11

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Table 4: Trends in Equity Derivatives Market

Source: NSE.

Particular Jun-11 May-11 Percentage Change Over Month

1 2 3 4

(i) Index Futures 2,65,178 3,05,745 -13.3

(ii) Options on Index

Put 8,56,038 8,65,584 -1.1

Call 9,28,533 10,27,313 -9.6

(iii) Stock Futures 3,22,695 3,36,689 -4.2

(iv) Options on Stock

Put 18,214 19,707 -7.6

Call 47,520 50,101 -5.2

Total 24,38,177 26,05,138 -6.4

(i) Index Futures 1,03,13,335 1,18,88,838 -13.3


Put 3,17,02,572 3,17,54,162 -0.2

Call 3,31,30,753 3,62,80,374 -8.7

(iii) Stock Futures 1,29,93,351 1,34,74,455 -3.6


Put 7,39,167 7,70,401 -4.1

Call 18,65,161 18,73,595 -0.5

Total 9,07,44,339 9,60,41,825 -5.5

(i) Index Futures 13,511 15,311 -11.8


Put 24,898 35,339 -29.5

Call 20,931 27,300 -23.3

(iii) Stock Futures 30,152 31,004 -2.7


Put 601 988 -39.2

Call 1,373 2,169 -36.7

Total 91,467 1,12,112 -18.4

(i) Index Futures 5,01,945 5,80,131 -13.5


Put 8,81,967 12,71,468 -30.6

Call 7,41,504 9,82,348 -24.5

(iii) Stock Futures 10,80,354 12,78,976 -15.5


Put 21,044 39,183 -46.3

Call 50,510 88,116 -42.7 Total 32,77,324 42,40,222 -22.7

A. Turnover ( ` crore)

B. No. of Contracts

C. Open Interest in terms of Value ( crore)

D. Open Interest in terms of No of Contracts

B. Currency Derivatives at NSE, MCX-SX and USE

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During June 2011, there was no trading in Interest Table 30).

Rate Futures segment at NSE (details in Annexure-

Figure 6 : Trends of Currency Derivatives at NSE, MCX-SX and USE (` crore)

During June 2011, the monthly turnover of the crore May 2011. At the end of June 2011, the

currency derivatives at NSE increased by 2.4 percent turnover of currency derivatives at USE stood at

to 4,42,877 crore as compared to 4,32,502 crore in ` 2,28,677 crore as compared to ` 2,10,512 crore in

May 2011. Further, at MCX-SX, the monthly May 2011, indicating an increase of 8.6 percent

turnover at currency futures increased by 2.8 percent (details in Annexure- Table 27).

to ` 3,67,456 crore in June 2011 from ` 3,57,484

C. Interest Rate Derivatives at NSE

Figure 7 : Trends in the Interest Rates Futures at NSE ` crore) (

0.49

1.47

0.44

0.44

8.00

0.31

0.20

0.26

3.80

0

1,00,000

2,00,000

3,00,000

4,00,000

5,00,000

NSE MCX SX USE

Monthly Turnover Average Daily Turnover

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V. Investment in Corporate Debt Market

crore in May 2011. Thereafter, Mutual funds invested Mutual Funds made net investment of 36,006 crore

` 35,183 crore in debt market in June 2011 as in June 2011 as compared to a withdrawal of 3,737

compared to a liquidation of ` 4,172 crore in May crore in May 2011. During June 2011, Mutual funds

2011 (details in Annexure- Table 37).invested ` 823 crore in equity as compared to ` 435

Figure 8 : Trends of Reported Volume of Corporate Bonds ` crore) (

During June 2011, there were 714 trades with a value trades with a value of ` 8,205 crore in May 2011.

of ` 4,645 crore reported on BSE as compared 378 Further, 2,997 trades with a value of ` 30,769 crore

trades with a value of ` 2,613 crore in May 2011. At were reported to FIMMDA in June 2011 as against

NSE, 719 trades were reported in June 2011 with a 2,264 trades with a value of ` 19,629 crore in May

trading value of ` 15,960 crore as compared to 370 2011 (details in Annexure- Table 26).

VI. Trends of Institutional Investors

A. Trends in Mutual Funds

BSE NSE FIMMDA

4,58

7 12,1

0747

,088

2,03

312

,486

35,8

83

2,68

912

,964

37,0

17

1,28

811

,496

35,4

96

2,72

4 9,78

526

,203

3,43

18,

451

24,6

35

1,39

7 9,78

125

,285

2,61

4 10,6

9621

,201

4,80

412

,855

32,2

61

3,06

011

,886

22,9

68

Jan-

11

Jul-1

0

Aug

-10

Sep-

10

tO

c-1

0

Nov

-10

Dec

-10

e-1

1

Fb ar-1

1

M Ar-p

11

My-

11a

-1Ju

n1

2,61

3 4,64

5

8,20

5 15,9

6019,6

29

30,7

69

509


There was a net inflow of 4,883 crore in June 2011 compared to ` 6,614 crore liquidation in May 2011.

by Foreign Institutional Investors (FIIs) as compared In addition, FIIs invested 311 crore in debt market

to an outflow of ` 4,276 crore in May 2011. FIIs in June 2011 as compared to ` 2,338 crore in May

invested of ` 4,572 crore in equity in June 2011 as 2011.

Figure 9 : ` crore)Trends in Mutual Funds Investment (

B. Trends in Foreign Institutional Investors

Figure 10 : ` crore)Trends in FIIs Investments (

Equity Debt Total

Equity Debt Total

16,6

178,

107

24,7

24

11,6

882,

999

14,6

86

24,9

797,

690

32,6

68

28,5

63-4

,260

24,3

03

18,2

932,

918

21,2

11

2,05

01,

164

3,21

4

-4,8

1310

,177

5,36

4

-4,2

31

1,30

2

-2,9

29

-3,1

7022

,242

19,0

72

-7,2

3620

,505

13,2

68

-5,8

0110

,978

5,17

7

-100

15,1

8215

,082

1,37

747

,990

49,3

67

591

37,4

27

38,0

17

1,42

722

,552

23,9

79

-4,5

861,

316

-3,2

70

1,30

2 15,1

8215

,082

-253

27,8

56

35,1

83

27,6

02

36,0

06

6,89

8 7,21

3

6,88

3

7,19

6

-15

-17

-464

62,9

6062

,496

1Ja

n-1

ul10

J- g1

Au

-0

Sep1

0-

Ot 10

c- 1

Nov

-0

ec-1

0

D Feb1

1- r11

Ma

- rA

p-11

Ma

11y-

Jun1

1-

-4,1

72-3

,737

435

Jan-

11

u1

Jl-

0

Aug

-10

Se10

p-

1O

ct-

0

Nov

-10

ec10

D-

Feb1

1- r11

Ma

- rA

11p- a

11

My-

Ju11

n-

-6,6

142.

338

4.27

6

823

4,57

2

4,88

331

1

510


VII. International Markets Comparison

Table1 5: Average Daily Return, Volatility and Month End PE Ratio of International Indices during June 2011

Index Return Volatility PE Ratio

1 2 3 4 5

Australia All Ordinaries -0.1 1.0 22.8

France CAC 40 0.0 1.3 11.9Germany Dax 0.1 1.1 12.2Hong Kong Hang Seng -0.3 0.9 11.8

Japan Nikkei 225 0.1 1.0 18.0Singapore Straits Times -0.1 0.7 10.5UK FTSE 100 0.0 1.0 14.2

USA Dow Jones Indus. Avg. -0.1 1.0 13.6

USA Nasdaq Composite -0.1 1.2 23.5

India Sensex 30 0.1 1.0 19.9India S&P CNX Nifty 0.1 1.0 20.8Argentina Indice Bolsa General 0.1 1.0 11.7

Brazil Bovespa -0.2 0.9 9.8

Chile Stock Market Select -0.1 1.0 17.5

China Shanghai SE Composite 0.0 1.1 15.4

Colombia IGBC General -0.2 0.6 22.9

Egypt Hermes -0.2 1.0 0.0

Hungary Budapest Stock Exchange -0.1 0.6 10.9

Indonesia Jakatra Composite 0.1 0.8 17.9

Malaysia FTSE Bursa Malaysia KLCI 0.1 0.3 16.8Mexico Bolsa 0.1 0.8 17.1

Pakistan Karachi 30 -0.1 0.9 8.0

Russia Russian Traded -0.1 1.0 13.9South Korea Kospi Index 0.0 1.4 7.3

South Africa FTSE/JSE Africa All Share -0.1 1.0 14.1Taiwan Taiwan Taiex -0.2 0.9 15.5

Thailand Stock Exchange of Thai -0.1 1.0 13.3

Turkey ISE National 100 0.0 1.1 12.0

Developed Markets

Emerging Markets

Source: Bloomberg.

511


During June 2011, the daily volatility for South (1.0 percent), Chile's Stock Market Select Index (1.0

Korean Kospi Index (1.4 percent) were the highest percent), Egypt's Hermes Index (1.0 percent),

among the countries under review followed by Russian Traded Index (1.0 percent), South Africa's

France's CAC 40 Index (1.3 percent), USA's Nasdaq FTSE/JSE Africa All Share Index (1.0 percent),

Composite Index, (1.2 percent), Germany's Dax Stock Exchange of Thai Index (1.0 percent),

Index (1.1 percent), China's Shanghai SE Composite Taiwan Taiex Index (0.9 percent), Pakistan's Karachi

Index (1.1 percent), Turkey's ISE National 100 30 Index (0.9 percent), Brazil's Bovespa Index (0.9

Index (1.1 percent), India's Nifty 50 Index and percent) and Hang Seng Index (0.9 percent),

Sensex Index (1.0 percent), Australia's All respectively. Malaysia's FTSE Bursa Malaysia KLCI

Ordinaries Index (1.0 percent), Japan's Nikkei 225 Index showed the lowest volatility at 0.3 percent

Index (1.0 percent), UK's FTSE 100 Index (1.0 during the same period (details in Table 5).

percent), USA's Dow Jones Indus. Avg. Index (1.0 The Average daily return and PE Ratio for June 2011 percent), Argentina's Indice Bolsa General Index

are given in Table 5.

512

PRESS RELEASES

A.

1. Grant of Exemption for the Proposed

Acquisition of Shares in M/s. Indus Fila Ltd


Acquisition of Voting Rights of M/s.

Bhagyanagar India Ltd


Acquisition of Shares in M/s. Pasupati Acrylon

Ltd

GENERAL and M/s. Accurex Traders Private Ltd. (Acquirers)

from complying with the provisions of Regulations

11(2) of Securities and Exchange Board of India

(Substantial Acquisition of Shares and Takeovers) SEBI passed an order dated June 27, 2011, granting Regulations, 1997 [Takeover Regulations] for the exemption to Mr. Nitin N Mandhana, Mr. Shashikant proposed increase in their shareholding and voting Mandhana, Mr. Prakash G Mandhana, Ms. Kavita S rights of the promoter group (including the Mandhana, Ms. Savita N Mandhana and Ms. Sneha A acquirers) of the target company from 57.25 percent Mandhana (Acquirers), from complying with the to 65.88 percent of total paid up capital of target provisions of Regulations 11(1) of Securities and company on account of the proposed allotment of Exchange Board of India (Substantial Acquisition of 1,80,00,000 equity shares of target company.Shares and Takeovers) Regulations, 1997 [Takeover The application seeking exemption from the Regulations] for the proposed increase in the provisions of the Takeover Regulations was shareholding and voting rights of the promoter forwarded by SEBI to the Takeover Panel. The group (including acquirers) from 47 percent to 54.04 Takeover Panel recommended the grant of percent of total paid up capital of the target exemption to the acquirers from making an open company on account of the proposed allotment of offer.29,71,070 equity shares of target company.

Ref: PR No.101/2011 dated June 28, 2011.

The application seeking exemption from the

provisions of the Takeover Regulations was

forwarded by SEBI to the Takeover Panel. The

Takeover Panel recommended the grant of

exemption to the acquirers from making an open SEBI passed an order dated June 27, 2011, granting offer.exemption to Mr. Narender Surana, Mr. G Mangilal Ref: PR No.100/2011 dated June 28, 2011.

Surana, Mr. Devendra Surana, Mr. Manish Surana,

Mrs. Namrata Surana, Mrs. Sunita Surana, Mrs.

Chand Kanwar, Ms. Nivriti Surana, Ms. Vinita

Surana, Mr. Rahul Surana, Mrs. Sresha Surana, Ms.

Mitali Surana, Mr. Advait Surana, G.M Surana HUF, SEBI passed an order dated June 27, 2011, granting G.M. Surana MHUF, Narender Surana HUF, exemption to M/s. Gurukripa Finvest Private Ltd., Devendra Surana HUF, Surana Infocom Private M/s. Sulabh Plantations and Finance Private Ltd. Ltd., Surana Telecom & Power Ltd. (Acquirers) from


complying with the provisions of Regulations 11(2) dealings of shares by promoters including pledge /

of Securities and Exchange Board of India usage as collateral, SEBI in consultation with Stock

(Substantial Acquisition of Shares and Takeovers) Exchanges, has decided that the securities of

Regulations, 1997 [Takeover Regulations] for the companies shall be traded in the normal segment of

proposed increase in their shareholding and voting the exchange if and only if, the company has

rights of the promoter group (including the achieved 100 percent of promoters and promoter

acquirers) of the target company from 65.08 percent group's shareholding in dematerialized form latest by

to 73.07 percent of total paid up capital of target the quarter ended September 2011 as reported to the

company pursuant to a proposed buy-back of equity stock exchanges. In all cases, wherein the companies

shares by the target company. do not satisfy the above criteria, the trading in

securities of such companies shall take place in trade The application seeking exemption from the for trade segment.provisions of the Takeover Regulations was Ref: PR No.93/2011 dated June 22, 2011.forwarded by SEBI to the Takeover Panel. The

Takeover Panel recommended the grant of

exemption to the acquirers from making an open

offer.

Ref: PR No.99/2011 dated June 28, 2011.With a view to improving the quality of

intermediation services in the securities market and

in accordance with the provisions of the Securities

and Exchange Board of India (Certification of

Associated Persons in the Securities Markets) In order to moderate sharp and destabilizing price Regulations, 2007, SEBI has prepared a discussion movements in shares of companies, to encourage paper on Continuing Professional Education (CPE), better price discovery and to increase transparency in specifying the procedure and specifications of CPE. securities market SEBI had issued a circular on

“trading rules and shareholding in dematerialized The discussion paper is available for public

mode” vide Cir No. SEBI/Cir/ISD/1/2010 dated comments on SEBI’s website www.sebi.gov.in under

September 02, 2010. The said circular inter-alia the heading “Reports for Public Comments”.

mandated securities of companies to be traded in The comments / suggestions on this paper may be normal segment, if and only if, the company has mailed at [email protected] or to the following achieved at least 50 percent non-promoter address, latest by June 30, 2011: Chief General shareholding in dematerialized form and maintained Manager, Market Intermediaries Regulation and the same on a continuous basis. Supervision Department, Securities and Exchange

In order to further promote dematerialization of Board of India, SEBI Bhavan, C-4A, G-Block,

securities, to encourage orderly development of the Bandra Kurla Complex, Mumbai- 400 051

securities market and to improve transparency in the Ref: PR No.87/2011 dated June 10, 2011.

5. Discussion Paper on Continuing Professional

Education

4. Shareholding of Promoter / Promoter Group

to be in Dematerialized Mode

513


6. SEBI Complaints Redress System (SCORES)

B. ORDER

1. Order in Respect of M/s. Pankaj Agro

Protinex Ltd. and its Directors

·The concerned investor can view the status of

the complaint online; SEBI launched a centralized web based complaints

redress system (SCORES) June 08, 2011. This would ·The entity concerned and the concerned investor enable investors to lodge and follow up their can seek and provide clarification(s) online to complaints and track the status of redressal of such each other; complaints from anywhere. This would also enable

·The life cycle of a complaint has an audit trail; the market intermediaries and listed companies to and receive the complaints from investors against them,

redress such complaints and report redressal. All the ·All the complaints are saved in a central database activities starting from lodging of a complaint till its which would generate relevant MIS reports to disposal by SEBI would be carried online in an enable SEBI to take appropriate policy decisions automated environment and the status of every and or remedial actions. complaint can be viewed online at any time. An

SCORES would expedite disposal of investors' investor, who is not familiar with SCORES or does complaints as this would obviate the need for not have access to SCORES, can lodge complaints in physical movement of complaints and the possibility physical form. However, such complaints would be of loss, damage or misdirection of the complaints scanned and uploaded in SCORES for processing.would be avoided. It would facilitate easy retrieval

SCORES, which has been developed by National and tracking of complaints at any time.

Informatics Centre, Government of India, is web Ref: PR No.85/2011 dated June 08, 2011.

enabled and provides online access 24 x 7. This has

the following salient features:

·Complaints and reminders thereon are lodged

online at anytime from anywhere;

·An email is generated instantaneously

acknowledging the receipt of the complaint and

allotting a unique complaint registration number

for future reference and tracking; In the matter of non-redressal of investor grievances

by M/s. Pankaj Agro Protinex Ltd. and its directors, ·The complaint moves online to the entity SEBI vide order dated June 3, 2011 disposed of the (intermediary or listed company) concerned for showcause notices issued to them without any its redressal; directions based on proof of redressal of investor

·The entity concerned uploads an Action Taken grievances. Report (ATR) on the complaint;

·SEBI peruses the ATR and disposes of the

complaint if it is satisfied that the complaint has

been redressed adequately;

514


515

In the matter of non-redressal of investor grievances

by M/s. Kanel Oil & Export Industries Ltd. and its

directors, SEBI vide order dated June 27, 2011

revoked the directions issued to them vide Order

dated December 15, 2010 as the company has Ref: PR No.91/2011 dated June 16, 2011. redressed all the pending investor grievances.

SEBI passed two orders dated June 09, 2011 in the Ref: PR No.97/2011 dated June 27, 2011.matter of M/s. Jagsonpal Pharmaceuticals Ltd.

suspending the certificates of registration of stock

brokers M/s. CFL Securities Ltd. and M/s. Tropical

Securities and Investment Private Ltd. for a period of

two months.

The order in respect of M/s. Tropical Securities and SEBI passed an Order dated June 24, 2011, in the Investment Private Ltd., shall run concurrently with captioned matter. The Order contains the following the SEBI order dated December 07, 2009, whereby directions to M/s. Infomerics Valuation and Rating SEBI had suspended the certificate of registration of Pvt. Ltd.:M/s. Tropical Securities and Investments Private

(a) Indicate as to which entity is its promoter(s) Ltd. till the time it pays the outstanding fees to the

along with the basis of considering the entity as SEBI.

such, and;Ref: PR No.92/2011 dated June 16, 2011.

(b) Submit audited annual accounts of its

promoter(s) for the last five years alongwith the

computation of net worth as per the SEBI SEBI passed an order dated June 23, 2011

prescribed formula, at the latest by July 15, 2011 suspending the certificate of registration of

failing which the application would be deemed to M/s. C.R. Jain & Co. of Delhi Stock Exchange Ltd.

be rejected.till the time outstanding registration fees is paid in

Further, SEBI has been directed to take a decision on full.basis of the details provided by the applicant in

Ref: PR No.98/2011 dated June 28, 2011.pursuance to the Order, at the latest by August 15,

4. Order in Respect of M/s. Kanel Oil & Export

Industries Ltd. and its Directors

2. Orders against M/s. CFL Securities Ltd. and

M/s. Tropical Securities and Investment Private

Ltd. in the Matter of M/s. Jagsonpal

Pharmaceuticals Ltd.

5. Order in the Matter of Application Dated June

11, 2009 Made by M/s. Infomerics Valuation and

Rating Pvt. Ltd. for Grant of Registration as a

Credit Rating Agency

3. Order against M/s. C.R. Jain & Co.


1 M/s. Pankaj Agro Protinex Ltd. Company2 Ms. Devyani Pravinkumar Patel Director3 Mr. Pravin Keshavlal Patel Director4 Mr. Kirti Keshavlal Patel Director5

Mr. Bharat R. Bhalodia

Director

6

Mr. Arun M Kothari

Director

7 Mr. Vipul K. Dedakiya Director

Name of the Company / DirectorsSr.No

Kanel Oil & Export Industries Ltd.

Mr. Thakkar K. Dhiren

Mr. Thakkar K. Hitesh Bhai

Mr. Khese S. Umesh

Company

Director

Director

Director

1

2

3

4

Name of the Company / DirectorsSr.No

516


2011 in accordance with the law.


SEBI passed order dated June 01, 2011 confirming SEBI passed an Order dated June 23, 2011, in the

the directions issued vide the ad-interim ex-parte captioned matter. The Order inter-alia contains

Order dated October 11, 2010 against M/s. Credent following directions:

Portfolio Management Private Ltd. and its directors, ·SIRECL and SHICL, and its promoter, Mr. Mr. Amaranjay Kumar and Mr. Mritunjay Kumar.

Subrata Roy Sahara, and the directors of the said Ref: PR No.79/2011 dated June 02, 2011.

companies, namely, Ms. Vandana Bhargava, Mr.

Ravi Shankar Dubey and Mr. Ashok Roy

Choudhary, jointly and severally, shall forthwith

refund the money collected by the aforesaid

companies through the RHP dated March 13, SEBI passed an order dated June 02, 2011 disposing 2008 and October 6, 2009, issued respectively, to of the enquiry proceedings in respect of M/s. Macy the subscribers of such Optionally Fully Securities Private Ltd., in the matter of M/s. Balaji Convertible Debentures with interest of 15 Industrial Corporation Ltd., without any penalty. percent per annum from the date of receipt of

Ref: PR No.81/2011 dated June 06, 2011. money till the date of such repayment.

·Such repayment shall be effected only in cash

through Demand Draft or Pay Order.

·SIRECL and SHICL shall issue public notice, in SEBI passed an order dated June 02, 2011 in the all editions of two National Dailies (one English matter of M/s. Balaji Industrial Corporation Ltd. and one Hindi) with wide circulation, detailing disposing of the Show Cause Notice issued to M/s. the modalities for refund, including details on Skokie Traders Private Ltd. (earlier known as M/s. contact persons including names, addresses and Smruthi Agro Farms Private Ltd.), M/s. Kyvalya contact details, within fifteen days of this Order Traders Private Ltd. (earlier known as M/s. Kyvalya coming into effect.Agro Farms Private Ltd.), M/s. Ramya Traders

·SIRECL and SHICL are restrained from Private Ltd., M/s. Sudheer Real Estates Private Ltd.

accessing the securities market for raising funds, and M/s. Vyshnavi Real Estate & Property Ltd.

till the time the aforesaid payments are made to without any directions.

the satisfaction of the SEBI Ref: PR No.83/2011 dated June 06, 2011.

9. Order in the Matter of Issuance of Optionally

Fully Convertible Debentures (OFCDs) Issued

by M/s. Sahara India Real Estate Corporation

Ltd. (SIRECL), now known as M/s. Sahara 6. Order against M/s. Credent Portfolio

Commodity Services Corporation Ltd. and M/s. Management Private Ltd. and its Directors, Mr.

Sahara Housing Investment Corporation Ltd. Amaranjay Kumar and Mr. Mrityunjay Kumar

(SHICL)

7. Order in Respect of M/s. Macy Securities

Private Ltd. in the Matter of M/s. Balaji

Industrial Corporation Ltd.

8. Order in the Matter of M/s. Balaji Industrial

Corporation Ltd.

517


copy of this Order shall be placed before the ·Mr. Subrata Roy Sahara, Ms. Vandana Bhargava, Registrar of the Hon'ble Supreme Court of India Mr. Ravi Shankar Dubey and Mr. Ashok Roy immediately. Choudhary are restrained from associating

themselves, with any listed public company and Ref: PR No.94/2011 dated June 23, 2011.

any public company which intends to raise

money from the public, till such time the

aforesaid payments are made to the satisfaction

of SEBI.

After completing the aforesaid repayments, the two

Companies shall file a certificate of such completion

with SEBI from two independent peer reviewed

Chartered Accountants who are in the panel of any

public authority or public institution.

In case of failure of the parties to comply with the

aforesaid directions, SEBI shall take appropriate

SEBI passed a consent order dated June 20, 2011, on action including launching of prosecution

the applications submitted by M/s. ATN proceedings against them and other persons who are

International Ltd., Mr. Santosh Kumar Jain, Mr. in default, in accordance with law.

Arihant Jain, Mr. Kishan Kumar Khadaria, Mr. It may be recalled that SEBI, in the interest of Santosh Kumar Lahoti and M/s. Silicon Valley investors in and for the integrity of the securities Infotech Ltd. in the matter of ATN International market, had passed an ad interim order dated Ltd., in accordance with SEBI Circular dated April November 24, 2010 inter alia restraining SIRECL 20, 2007 for consent orders.and SHICL including the persons named as

The applicants have remitted a consolidated sum of promoters and directors of the said companies from

mobilizing funds under the Red Herring Prospectus ` 28,00,000/- (Rupees Twenty Eight Lakh Only).

through these OFCDs, till further directions. Two of the applicants, viz., ATN International Ltd.

and Shri Santosh Kumar Jain have opted for The Hon'ble Supreme Court of India vide its order voluntary debarment from buying, selling or dated May 12, 2011 has directed SEBI to otherwise accessing the securities market for a period '“expeditiously hear and decide this case so that this of 2 (two) years from the date of the order. Further, Court can pass suitable orders on re-opening. one applicant, viz., Silicon Valley Infotech Ltd. has However, effect to the order of SEBI will not be opted for voluntary debarment from buying, selling given.” Therefore this Order will be given effect to or otherwise accessing the securities market for a only subject to the directions of the Hon'ble period of 1 (one) year from the date of the order.Supreme Court.Ref: PR No.95/2011 dated June 24, 2011.

In respectful compliance with the Order dated May

12, 2011 of the Hon'ble Supreme Court of India, a

C. CONSENT ORDER

1. Consent Order on the Applications Submitted

by M/s. ATN International Ltd., Mr. Santosh

Kumar Jain, Mr. Arihant Jain, Mr. Kishan Kumar

Khadar A, Mr. Santosh Kumar Lahoti and M/s.

Silicon Valley Infotech Ltd. in the Matter of

M/s. ATN International Ltd.

518


2. Consent Order on the Application Submitted

by M/s. Kredence Multi Trading Ltd. in the

Matter of M/s. Uttam Galva Steels Ltd.


by M/s. Reliance Securities Ltd.


by M/s. Sainath Trading Company Pvt. Ltd. in

the Matter of M/s. Uttam Galva Steels Ltd.

4. Consent Order on the Application Submitted 6. Consent Order on the Application Submitted by M/s. Archisha Investments Pvt. Ltd. in the by M/s. Premier Shares Ltd. Matter of M/s. Uttam Galva Steels Ltd.

(Substantial Acquisition of Shares and Takeovers)

Regulations, 1997 for the years 2002-03 and 2003-04.

The applicant has remitted a sum of ` 3,00,000/-

(Rupees Three Lakh only) towards settlement SEBI passed a consent order dated June 08, 2011 on charges, in the matter. the application submitted by M/s. Kredence Multi Ref: PR No.88/2011 dated June 13, 2011.Trading Ltd. for delay in compliance of Regulation

8(2) of SEBI (Substantial Acquisition of Shares and

Takeovers) Regulations, 1997 for the years 1999-00

and 2000-01. The applicant has remitted a sum of

` 2,00,000/- (Rupees Two Lakh only) towards SEBI passed a consent order dated June 09, 2011 in

settlement charges, in the matter.the matter of inspection of M/s. Reliance Securities

Ref: PR No.89/2011 dated June 13, 2011.Ltd. (RSL) in accordance with SEBI Circular dated

April 20, 2007 for consent orders. The applicant has

remitted a sum of ` 25,00,000/- (Rupees Twenty

Five Lakh only) towards settlement charges in the

matter. Further, as per the terms of settlement (a)

RSL will not register new clients for a period of 45 SEBI passed a consent order dated June 08, 2011 on days, effective after 7 days from the date of receipt of the application submitted by M/s. Sainath Trading the order and (b) RSL will spend a sum of ` 1 crore Company Pvt. Ltd. for delay in compliance of on investor education and awareness programme Regulation 8(2) of SEBI (Substantial Acquisition of and on development of materials focusing on Shares and Takeovers) Regulations, 1997 for the making investors more aware of their rights in years 1999-00 and 2000-01. The applicant has connection with internet based trading in securities remitted a sum of ` 2,00,000/- (Rupees Two Lakh market, within a period of six months from the date only) towards settlement charges, in the matter.of receipt of the order. Ref: PR No.90/2011 dated June 13, 2011.


SEBI passed a consent order dated June 01, 2011 in SEBI passed a consent order dated June 08, 2011 on the matter of inspection of M/s. Premier Shares Ltd. the application submitted by M/s. Archisha in accordance with SEBI Circular dated April 20, Investments Pvt. Ltd. for delay in compliance of 2007 for consent orders. The applicant has remitted a Regulation 7(1A) of SEBI (Substantial Acquisition sum of ` 30,00,000/- (Rupees Thirty Lakh only) of Shares and Takeovers) Regulations, 1997 for the towards settlement charges in the matter. acquisition of shares on February 18, 2004 and delay

Ref: PR No.84/2011 dated June 07, 2011.in compliance of Regulation 8(2) of SEBI

519


7. Consent Orer in the Matter of M/s. Tech Trek 8. Consent Order in the Matter of Dr. Wellman's

India Ltd. Homeopathic Laboratory Ltd.

SEBI passed consent order dated May 31, 2011 on SEBIpassed a consent order dated May 30, 2011 on

the consent application submitted by M/s. Tech Trek the application submitted by Dr. Wellman's

Ltd. for non-compliance with the provisions of Homeopathic Laboratory Ltd. for delay in

Regulation 6(2) and 6(4) of the SEBI (Substantial compliance of provisions under Regulations 6(4),

Acquisition of Shares and Takeovers) Regulations, 7(3) and 8(3) of the SEBI (Substantial Acquisition of

1997 for the year 1997 and Regulation 8(3) for the Shares and Takeovers) Regulations, 1997. The

years 1998 to 2010, relating to disclosures to be made applicant has remitted a sum of ` 10,35,000/-

to the Stock Exchanges. (Rupees ten lakh thirty five thousand only) towards

the settlement charges, in the matter.The applicant has remitted a sum of ` 7,75,000/- Ref: PR No.78/2011 dated June 01, 2011.(Rupees Seven Lakh and Seventy Five Thousand

only) towards the settlement charges in the matter.


520

CIRCULARS


1. Liquidity Enhancement Schemes for Illiquid

Securities in Equity Derivatives Segment·New securities permitted on the Stock Exchange

after the date of this circular,

In consultation with BSE, MCX-SX, NSE and USE, ·Securities in case of a new Stock Exchange / it has been decided to permit Stock Exchanges to new Segment, andintroduce one or more liquidity enhancement

·Securities where the average trading volume for schemes (LES) to enhance liquidity of illiquid the last 60 trading days on the Stock Exchange is securities in their equity derivatives segments. less than 0.1 percent of market capitalization of

The Stock Exchange shall ensure that the LES, the underlying.

including any modification therein or its The LES can be discontinued at any time with an discontinuation,advance notice of 15 days. It shall, however, be

·has the prior approval of its Board and its discontinued as soon as the average trading volume implementation and outcome is monitored by on the Stock Exchange, during the last 60 trading the Board at quarterly intervals; days, reaches 1 percent of market capitalization of

the underlying, or six months from introduction of ·prescribes and monitors the obligations of the scheme, whichever is earlier.liquidity enhancers (liquidity provider, market

maker, maker-taker or by whatever name called); If a Stock Exchange introduces LES on securities

eligible under Para 3 above, other Stock Exchanges ·disburses the incentives linked to performance;may introduce LES in the same / competing

·is objective, transparent, non-discretionary and securities even if those are not eligible under Para 3 non-discriminatory; above. Such LES of the other Stock Exchanges

cannot be continued beyond the period of LES of ·does not compromise market integrity or risk the former stock Exchange.management;

The incentives under LES shall be transparent and ·complies with all the relevant laws; andmeasurable. These may take either of the two forms:

·is disclosed to market at least 15 days in advance ·Discount in fees, adjustment in fees in other and its outcome (incentives granted and volume

segments, cash payment;achieved – liquidity enhancer wise and security

wise) is disseminated monthly within a week of ·Shares, including options and warrants, of the the close of the month. Stock Exchange.

The LES can be introduced in any of the following If a Stock Exchange chooses the form specified in securities: Para '6a' above, the incentives under all LES, during a


521

financial year, shall not exceed 25 percent of the net Circular state that automatic fungibility of IDRs is

profits or 25 percent of the free reserves of the Stock not permitted. Therefore, fungibility of IDRs into

Exchange, whichever is higher, as per the audited the underlying Shares would be permitted only after

financial statements of the preceding financial year. the expiry of the one year period from the date of

If, however, a Stock Exchange chooses the form issue of the IDRs and subsequent to obtaining RBI

specified in Para '6b' above, the shares, including the approval on a case-by-case basis. Further, two-way

shares that may accrue on exercise of warrants or fungibility (the ability to purchase existing Shares on

options, given as incentives under all LES, during a the London Stock Exchange and/or the Hong Kong

financial year, shall not exceed 25 percent of the Stock Exchange and deposit them into the IDR

issued and outstanding shares of the Stock Exchange programme) is not currently permitted. Additionally,

as on the last day of the preceding financial year. in terms of the RBI Circular, at the time of

redemption/conversion of IDRs into underlying The Stock Exchange shall submit half-yearly reports shares, the Indian holders (persons resident in India) on the working of its LES for review of SEBI.of IDRs are required to comply with the provisions

Source: SEBI/DNPD/5/2011 dated June 2, 2011.of the Foreign Exchange Management (Transfer or

Issue of Any Foreign Security) Regulations, 2004.”

Since the one year period is nearing completion, it has

become necessary to put in place, the framework for In order to facilitate foreign issuers to raise funds redemption of IDRs.from the Indian capital markets through IDRs and

The relevant legal/regulatory provisions of enable investors in the domestic market to have

fungibility of IDRs are as under:- Rule 10 of investment opportunities in the securities of major

Companies (Issue of Indian Depository Receipts) multi-national companies listed on well developed

Rules, 2004:-markets, a legal framework was created by the

“Procedure for Transfer and redemption of IDRs:- Ministry of Corporate Affairs (MCA), Reserve Bank A holder of IDRs may transfer the IDRs or may ask of India (RBI) and SEBI.the Domestic Depository to redeem these IDRs,

Pursuant to the same, Standard Chartered PLC came subject to the provisions of the Foreign Exchange

out with its IDR issue in May 2010 and the said IDRs Management Act, 1999 and other laws for the time

have been listed on BSE and NSE on June 11, 2010. being in force.”

In terms of disclosures in their offer document on RBI's circular dated July 22, 2009:-”ability to withdraw shares” from the IDR Facility

“Fungibility:-Automatic fungibility of IDRs is not and to deposit further shares into the IDR Facility, it

permitted.has been stated as under:-

Period of redemption:- IDRs shall not be “Pursuant to the terms of the RBI Circular, IDRs are

redeemable into underlying equity shares before the not redeemable into underlying equity shares before

expiry of one year period from the date of issue of the expiry of a one-year period from the date of issue

IDRs.”of the IDRs. The SEBI Regulations and the RBI

2. Redemption of Indian Depository Receipts

(IDRs) into Underlying Equity Shares


522

Regulation 100 of Chapter X of SEBI (ICDR) ·The IDR holders may submit their application to Regulations, 2009:- the domestic depository for redemption of

IDRs within a period of thirty days from the date “IDRs shall not be automatically fungible into of such public announcement.underlying equity shares of issuing company.”

·The redemption of IDRs shall be completed The extant regulatory frame work does not permit

within a period of thirty days from the date of fungibility but only redemption. Therefore, allowing

receipt of application for redemption.redemption freely in the absence of two way

fungibility could result in reduction of number of ·Pursuant to such redemption, the domestic

IDRs listed, thereby impacting its liquidity in the depository shall notify the revised shareholding

domestic market.pattern of the issuer company to the concerned

In view of the above, it has been decided, in stock exchanges within seven days of consultation with the RBI, that: completion of the process of redemption.

Source: SEBI/CFD/DIL/3/2011 dated June 3, 2011.·After the completion of one year from the date

of issuance of IDRs, redemption of the IDRs

shall be permitted only if the IDRs are

infrequently traded on the stock exchange(s) in

India.

·The issuer company shall test the frequency of SEBI has commenced processing of investor trading of IDRs on a half yearly basis ending on complaints in a centralized web based complaints June and December of every year. redress system 'SCORES'. The salient features of

this system are:· When the IDRs are considered “infrequently

traded” on the above basis, it shall be the trigger ·Centralised database of all complaints,event for redemption.

·Online movement of complaints to the ·The issuer company shall make a public concerned listed companies,

announcement in an English and Hindi language ·Online upload of Action Taken Reports (ATRs)

newspaper with wide circulation in the by the concerned companies, and

prescribed format (including brief details about

·Online viewing by investors of actions taken on the trigger of the redemption event, time period

the complaint and its current status.for submission of application and the approach

for processing the applications) as well as notify All complaints pertaining to companies will be the stock exchanges. Such announcement shall electronically sent through SCORES at http:// be made within seven days of closure of the half scores.gov.in/Admin. The companies are required to year ending on which the liquidity criteria is view the complaints pending against them and tested. A suitable format for this purpose shall submit ATRs along with supporting documents be prescribed by the stock exchange(s). electronically in SCORES. Failure on the part of the

3. Processing of Investor Complaints Against

Listed Companies in SEBI Complaints Redress

System (SCORES)


523

company to update the ATR in SCORES will be or constitution has been done away with. However,

treated as non redressal of investor complaints by the the members of the stock exchanges would be

company. Submission of physical ATR will not be required to take prior approval from SEBI for change

accepted for complaints lodged in SCORES. For in control.

complaints forwarded to companies on or before The stock exchanges will continue to grant prior 20/05/2011, physical ATRs should be submitted. approval to their members and sub-brokers for

The user id and password for logging into SCORES change in status or constitution, which would include

at http://scores.gov.in/Admin are being the following;

communicated separately to companies against (a) in case of a body corporate —whom complaints are lodged in SCORES.

·amalgamation, demerger, consolidation or In case the complaints are processed by the Registrar

any other kind of corporate restructuring to Issue and Share Transfer Agent (RTI/STA) on

falling within the scope of section 391 of the behalf of the company, the company should indicate

Companies Act, 1956 (1 of 1956) or the in the enclosed Annexure whether they require the

corresponding provision of any other law for facility to forward complaints to the RTI/STA, so

the time being in force;that the ATRs can be uploaded by them. In such

·change in its managing director, whole-time cases, the name of the RTI/STA, the name of the director or director appointed in compliance Compliance Officer and email id should be with clause (v) of sub-rule (4A) of rule 8 of furnished, so that the user id and password can be the Securities Contracts (Regulation) Rules, provided accordingly. Further, failure on the part of 1957; andthe RTI/STA to update the ATR in SCORES will be

treated as non redressal of investor complaints by the ·any change in control over the body company. corporate;Source: SEBI/OIAE/2/2011 dated June 3, 2011.

(b) any change between the following legal forms -

individual, partnership firm, Hindu undivided

family, private company, public company,

unlimited company or statutory corporation and

other similar changes;SEBI (Stock Brokers and Sub-brokers) Regulations,

(c) in case of a partnership firm any change in 1992 have been amended vide Notification No.

partners not amounting to dissolution of the LAD-NRO/GN/2011-12/03/12650 dated April

firm;19, 2011 {hereinafter referred to as "the said

amendment"}, a copy of which is available on SEBI (d) any other purpose as may be considered website www.sebi.gov.in. appropriate by the stock exchanges

With the said amendment, the requirement of The stock exchanges shall submit a periodical report members of the stock exchanges and sub-brokers to with details of the changes in status or constitution obtain prior approval from SEBI for change in status of the members / sub-brokers, as per the format and

4. Periodical Report – Grant of Prior Approval to

Members of Stock Exchanges/Sub-brokers


524

in accordance with guidelines given at SEBI website. ·Certified copy of the requisition slip (portion

which is retained by the bank) to issue the Source: SEBI/MIRSD/2/2011 dated June 3, 2011.

instrument.

·Certified copy of the passbook/bank

statement for the account debited to issue

the instrument.According to SEBI Circular No. SEBI / MRD / SE /

Cir-33 / 2003 / 27 / 08 dated August 27, 2003, while ·Authentication of the bank account-number specifying the mode of receipt and payment of debited and name of the account holder by funds, has permitted the stock brokers to accept the issuing bank on the reverse of the Demand Drafts from their clients. instrument.

While receiving funds from the clients through pre- b) Maintain an audit trail of the funds received funded instruments, such as, Pay Order, Demand through electronic fund transfers to ensure that Draft, Banker's cheque, etc., it is observed that the the funds are received from their clients only.stock brokers are unable to maintain an audit trail of

the funds so received, as the details of the name of Stock Exchanges are advised to :the client and bank account-number are not

mentioned on such instruments. This may result in ·issue necessary instructions to bring the flow of third party funds/unidentified money, which provisions of this Circular to the notice of is not in accordance with the provisions of the their constituents and also disseminate the aforesaid circular and also affects the integrity of the same on their websites;securities market.

·make amendments to the relevant bye-laws, Therefore, with a view to address the aforesaid rules and regulations for the implementation concerns, it has been decided in consultation with the of the above, as deemed necessary;major stock exchanges and associations of stock

·communicate to SEBI, the status of the brokers, as under:implementation of the provisions of this

a) If the aggregate value of pre-funded Circular by June 30, 2011; and

instruments is ` 50,000/- or more, per day per ·develop the monitoring mechanism through client, the stock brokers may accept the

internal audit and inspections. instruments only if the same are accompanied

Source: SEBI/DNPD/5/2011 dated June 2, 2011.by the name of the bank account holder and

number of the bank account debited for the

purpose, duly certified by the issuing bank. The

mode of certification may include the following:

·Certificate from the issuing bank on its According to SEBI circular No. CIR/IMD/

letterhead or on a plain paper with the seal of FIIC/1/2011 dated January 17, 2011 and SEBI

the issuing bank.Circular No. CIR/IMD/FIIC/6/2011 dated May

5. Pre- funded Instruments / Electronic Fund

Transfers

6. Reporting of Offshore Derivative Instruments

(ODIs)/Participatory Notes(PNs) Activity


525

12, 2011 on the captioned subject wherein the As per circular dated May 12, 2011 the date of

implementation date of the new reporting format implementation of the new reporting format was was deferred in view of clarifications sought with made effective for month of July 2011 report to be regard to the reporting format. submitted by August 07, 2011. During the

consultation process, it was represented that system

changes for incorporating the clarifications would The clarifications are as follows:

require further time than that already provided in ·If an ODI (e.g. on MSCI India Index) is hedged circular dated May 12, 2011.

with multiple types of Indian securities and left In view of the above, it has been decided to grant

partly unhedged, it may be split in separate rows further time for implementation of the reports and

with each row for each Indian security and a that the first monthly summary report shall be

blank column for the unhedged portion. The submitted for the month of September, 2011 before

outstanding value of ODIs shall be summation 7th October, 2011.

of all such rows.The first such transaction-wise details in Annexures

·The current methodology of reporting F&O shall be submitted in March 2012 along with the positions will be continued. The outstanding outstanding positions as on September 30, 2011 and value of ODIs shall continue to be represented thereafter with such six months' lag.in notional terms.

Till such time the new reporting format is ·The ODI issuers shall link hedges to the extent implemented, the FIIs shall continue to file the

that such a link can be made. reports in the existing format.

·The FIIs shall work out the linkages for all The custodians are requested to bring the contents

outstanding ODI positions as on September 30, of this circular to the notice of their FII clients.

2011. This report shall be uploaded to SEBI by Source: SEBI/IMDD/7/2011 dated June 15, 2011.

the entities in March 2012 along with the upload

of the first six months' lag transaction reports.

·The column 'Location of end beneficial owner

of the Offshore Derivative Instrument' in

Annexure A shall state the country of the end According to SEBI circular no MRD/DoP/SE/Cir-beneficial owner. 38/2004 dated October 28, 2004 had issued

comprehensive guidelines for regulation of Investor ·It is to be clarified with reference to Para 5 of the

Protection Fund (IPF)/ Customer Protection Fund SEBI circular dated January 17, 2011, as regards

(CPF) required to be maintained by Stock FII to FII ODI/PN activity, the reporting/

Exchanges. Further, SEBI issued a clarification to issuer FII shall provide the SEBI Registration

Clause 24 of the Annexure to Circular dated October No. of the subscriber FII in addition to the name

28, 2004, specifying that in case of defaulting brokers of the FII.

7. Modification to Investor Protection Fund

(IPF)/ Customer Protection Fund (CPF)

Guidelines


526

with multiple memberships, the residual amount Provided that any claims received after three years

after satisfying claims of SEBI, the concerned stock from the date of expiry of the specified period may

exchange, and all other exchanges, would be credited be dealt with as a civil dispute.

to the IPF/CPF of the concerned exchange. The

Circular dated October 28, 2004 as clarified by Provided further that in cases where any litigations

Circular dated December 14, 2006 shall hereinafter are pending against the defaulter member, the

be referred to as the “Comprehensive Guidelines on residual amount, if any, may be retained by the stock

IPF/CPF of Stock Exchanges” or “The exchange until such litigations are concluded.”

Comprehensive Guidelines”.

Exemptions have been sought by Stock Exchanges Disbursement of Claims from the IPF/ CPFfrom strict compliance with Clause 24 of the

Annexure to Circular dated October 28, 2004 on the c) Clause 22 shall be deleted.ground that the residual amount remaining after

d) Clause 23 shall be substituted with the satisfaction of claims against the defaulting broker

following–should be refunded to the broker and not credited to

“The compensation shall be disbursed to the the IPF/CPF. SEBI has decided to modify certain investor from the IPF/CPF in case there is a clauses of the abovementioned Annexure, with a shortage of defaulter broker's assets after its view to harmonise the practices followed by various realization.”exchanges to meet investor claims.

e) Clause 24, as it reads after incorporation of

clarification vide Circular dated December 14, Thus, it has been decided to modify the 2006, shall be substituted with the following –Comprehensive Guidelines -The Stock Exchange shall ensure that the

a) Clause 8 shall be substituted with the following –amount realized from the assets of the defaulter

The specified period for inviting legitimate member is returned to the defaulter member claims against a defaulter member, shall be a after satisfying the claims of the Stock Exchange minimum of ninety days.” and SEBI in accordance with the bye-laws of the

Stock Exchange.b) Clause 13 shall be substituted with the

following–

If any eligible claims arise within three years Provided that in case of a member broker having from the date of expiry of the specified period membership on multiple stock exchanges, amount such claims shall be borne by the stock realized from the assets of the defaulter member exchanges without any recourse to the shall be returned to the said member only after IPF/CPF. satisfying eligible claims of the concerned stock

exchange, SEBI, and other stock exchanges.”

Exchanges are advised to Or

The amount invested in the new activity/project ·make necessary amendments to the relevant bye-(Fixed Assets + Advances + Works In Progress) is laws, rules and regulations for the implemen-atleast 50 percent of the assets of the company. The tation of the above decision.'Advances' shall include only those extended to

·bring the provisions of this Circular to the notice contractors and suppliers towards execution of

of the member brokers/clearing members of project, specific to new activity as reflected in the

the Exchange and also to disseminate the same new name.

on the website.To confirm the compliance of the aforesaid

·communicate the status of the implementation provision 2.2, the company shall submit auditor's of this Circular in the Monthly Development certificate to the exchange.Report to SEBI.

Source: SEBI/MRD/6/2011 dated June 16, 2011.All the Stock Exchanges are advised to:

·implement the above by making necessary

amendments to the bye-lawsSEBI circular dated April 30, 2004 required all listed

·and Listing Agreement, as applicable;companies seeking change of name to comply inter

alia with the following provision: ·to bring the provisions of this circular to the

notice of the listed companies and member 2.2. At least 50 percent of its total revenue in the brokers/ clearing members and also to put up preceding 1 year period should have been the same on the website for easy access to the accounted for by the new activity suggested by investors; andthe new name.

·communicate to SEBI the status of the It is observed from the representations received

implementation of the provisions of this from few companies and feedback received

circular and the action taken in this regard in the from the Stock Exchanges that the companies,

Monthly Development Report.where the gestation period of the business is

usually longer and the revenue stream often Source: SEBI/MRD/7/2011 dated June 16, 2011.

delayed, find it difficult to comply with the

aforesaid provision.

In view of the above, it is decided to modify the

para 2.2 of the aforementioned circular as under:It has been observed that the Credit Rating Agencies

2.2. At least 50 percent of its total revenue in the (CRAs) registered with SEBI use different rating preceding 1 year period should have been symbols and definitions.accounted for by the new activity suggested by

It has been felt that there need to be common rating the new name

symbols and definitions (i) for easy understanding of

8. Change of Name by Listed Companies

9. Standardisation of Rating Symbols and

Definitions


527

the rating symbols and their meanings by the possible but not later than 4 months from the date of

investors, and (ii) to achieve high standards of issuance of this circular.

integrity and fairness in ratings. The CRAs shall communicate to SEBI, the status of

The issue was discussed in the meeting of Corporate the implementation of the provisions of this circular

Bonds and Securitisation Advisory Committee of by October 31, 2011. They shall also place the

SEBI. The Committee recommended that the rating compliance status of this circular before their

symbols and their definitions should be standardised. Boards.

Source: SEBI/MIRSD/4/2011 dated June 15, 2011.Pursuant to the above, in consultation with the CRAs

and considering the international practices,

standardised symbols and their definitions have been

devised for the following:

·Long term debt instruments; According to SEBI/Cir/ISD/1/2010 dated

September 02, 2010 issued on “trading rules and ·Short term debt instruments;shareholding in dematerialized mode”. The said

·Long term structured finance instruments; circular was issued in order to moderate sharp and

destabilizing price movements in shares of ·Short term structured finance instruments;companies, to encourage better price discovery and

·Long term mutual fund schemes; andto increase transparency in securities market. The

·Short term mutual fund schemes. aforesaid circular inter-alia mandated securities of

companies to be traded in normal segment, if and The new symbols and definitions as given in only if, the company has achieved atleast 50 percent Annexures 1-6 (available at the SEBI website) non-promoter shareholding in dematerialized form shall henceforth be used for the new ratings/ and maintained the same on a continuous basis.reviews by the CRAs.

In order to further promote dematerialization of

securities, encourage orderly development of the For existing outstanding ratings, the CRAs shall:

securities market and to improve transparency in the ·disclose new rating symbols and definitions on dealings of shares by promoters including pledge /

their websites; usage as collateral, SEBI in consultation with Stock

Exchanges, has decided that the securities of ·update their rating lists on their websites; andcompanies shall be traded in the normal segment of

·inform their clients about the change in the the exchange if and only if, the company has rating symbols and definitions and specifying achieved 100 percent of promoter's and promoter that this should not be construed as a change in group's shareholding in dematerialized form latest by the ratings. the quarter ended September 2011 as reported to the

The CRAs shall ensure compliance with the stock exchanges.requirements specified at Clause 6 above, as early as In all cases, wherein the companies do not satisfy the

10. Shareholding of Promoter / Promoter Group

to be in Dematerialized Mode


528


529

above criteria, the trading in securities of such director/ whole-time director

companies shall take place in trade for trade segment.·In case of a partnership firm any change in

For the above purpose the exchanges shall take the partners not amounting to dissolution of the latest shareholding pattern as required to be firmsubmitted by the listed companies with exchanges in

·Change in shareholding not resulting in change pursuance to the Listing agreement as of the

in control.preceding quarter or of any subsequent date.

·If there is no change during the relevant half-Source: SEBI/ISD/3/2011 dated June 17, 2011.

year, it shall be indicated in the report.

Source: SEBI/MIRSD/6/2011 dated June 17, 2011.

SEBI (Underwriters) Regulations, 1993 {hereinafter

referred to as "the said Regulations"}, have been

SEBI (Merchant Bankers) Regulations, 1992 amended vide Notification No. LAD-NRO/GN/

{hereinafter referred to as "the said Regulations"}, 2011- 12/03/12650 dated April 19, 2011

have been amended vide Notification No. LAD-{hereinafter referred to as "the said amendment"}, a

NRO/GN/2011- 12/03/12650 dated April 19, 2011 copy of which is available on SEBI website

{hereinafter referred to as "the said amendment"}, a www.sebi.gov.in.

copy of which is available on SEBI website With the said amendment, the requirement of taking www.sebi.gov.inprior approval by the underwriters from SEBI for

With the said amendment, the requirement of taking change in status or constitution has been dispensed

prior approval by the merchant bankers from SEBI with. However, the underwriters are required to take

for change in status or constitution has been prior approval from SEBI for change in control.

dispensed with. However, the merchant bankers are Pursuant to the aforesaid notification, all required to take prior approval from SEBI for change underwriters shall report the following change(s) to in control.SEBI on a half-yearly basis within 15 days of expiry

Further, the merchant bankers shall continue to of the half-year, commencing from the half-year

report the following change(s) to SEBI through the ended September 30, 2011.

half-yearly reports submitted in accordance with ·Amalgamation, demerger, consolidation or any

SEBI Circular No. MIRSD/DPS-2/MB/Cir-other kind of corporate restructuring falling

16/2008 dated May 06, 2008;within the scope of section 391 of the

·Amalgamation, demerger, consolidation or any Companies Act, 1956 (1 of 1956) or the

other kind of corporate restructuring falling corresponding provision of any other law for

within the scope of section 391 of the the time being in force

Companies Act, 1956 (1 of 1956) or the ·Change in Director, including managing

11. Periodical Report- Grant of Prior Approval to

Underwriters


Merchant Bankers


530

corresponding provision of any other law for the ·Change in Director, including managing time being in force director/ whole-time director

·Change in Director, including managing ·In case of a partnership firm any change in director/ whole-time director partners not amounting to dissolution of the

firm·Change in shareholding not resulting in change

in control ·Change in shareholding not resulting in change

Source: SEBI/MIRSD/7/2011 dated June 17, 2011. in control

If there is no change during the relevant quarter, it

shall be indicated in the report.


SEBI (Registrars to an Issue and Share Transfer

Agents) Regulations, 1993 {hereinafter referred to as

"the said Regulations"}, have been amended vide

Not i f ica t ion No. LAD-NRO/GN/2011- SEBI (Debenture Trustees) Regulations, 1993 12/03/12650 dated April 19, 2011 {hereinafter {hereinafter referred to as "the said Regulations"}, referred to as "the said amendment"}, a copy of have been amended vide Notification No. which is available on SEBI website www.sebi.gov.in. LADNRO/GN/2011-12/03/12650 dated April 19, With the said amendment, the requirement of taking 2011 {hereinafter referred to as "the said prior approval by the Registrars to an Issue and Share amendment"}, a copy of which is available on SEBI Transfer Agents (RTI/STA) from SEBI for change website www.sebi.gov.in .in status or constitution has been dispensed with. With the said amendment, the requirement of taking However, the RTI/STAs are required to take prior prior approval by the Debenture Trustees from SEBI approval from SEBI for change in control. for change in status or constitution has been Pursuant to the aforesaid notification, all RTI/STAs dispensed with. However, the Debenture Trustees shall report the following change(s) to SEBI in the are required to take prior approval from SEBI for quarterly reports submitted in accordance with the change in control.SEBI Circular No. MIRSD/DPS-2/RTA/Cir- Pursuant to the aforesaid notification, commencing 17/2008 dated May 06, 2008, commencing from the from the quarter ended June 30, 2011, all Debenture quarter ended June 30, 2011. Trustees shall report the following change(s) to SEBI

in the quarterly reports submitted in accordance with ·Amalgamation, demerger, consolidation or any

SEBI Circular No. MIRSD/DPS-2/DT/Cir-other kind of corporate restructuring falling

14/2008 dated May 06, 2008.within the scope of section 391 of the

Companies Act, 1956 (1 of 1956) or the ·Amalgamation, demerger, consolidation or any corresponding provision of any other law for other kind of corporate restructuring falling the time being in force within the scope of section 391 of the


Registrars to an Issue and Share Transfer Agents


Debenture Trustees


531

Companies Act, 1956 (1 of 1956) or the within the scope of section 391 of the

corresponding provision of any other law for Companies Act, 1956 (1 of 1956) or the

the time being in force corresponding provision of any other law for

the time being in force·Change in Director, including managing

director/ whole-time director ·Change in Director, including managing

director/ whole-time director·Change in shareholding not resulting in change

in control. ·Change in shareholding not resulting in change

in control·If there is no change during the relevant half-

Source: SEBI/MIRSD/7/2011 dated June 20, 2011.year, it shall be indicated in the report.


SEBI (Depositories and Participants) Regulations,

1996 {hereinafter referred to as "the said SEBI (Bankers to an Issue) Regulations, 1994

Regulations"}, have been amended vide notification {hereinafter referred to as "the said Regulations"},

no. LAD-NRO/GN/2011-12/03/12650 dated have been amended vide Notification No.

April 19, 2011 {hereinafter referred to as "the said LADNRO/GN/2011-12/03/12650 dated April 19,

amendment"}, a copy of which is available on SEBI 2011 {hereinafter referred to as "the said

website www.sebi.gov.in.amendment"}, a copy of which is available on SEBI

With the said amendment, a Depository Participant website www.sebi.gov.in.would be required to take prior approval from SEBI

With the said amendment, the requirement of taking for change in control.

prior approval by the Bankers to an Issue from SEBI Henceforth, the Depositories shall submit a for change in status or constitution has been periodical report to SEBI regarding the following dispensed with. However, the Bankers to an Issue changes, as per the format and in accordance with the would be required to take prior approval from SEBI guidelines:for change in control.

Pursuant to the aforesaid notification, commencing ·Amalgamation, demerger, consolidation or any

from the quarter ended June 30, 2011, all Bankers to other kind of corporate restructuring falling

an Issue shall report the following change(s) to SEBI within the scope of section 391 of the

in the quarterly reports submitted in accordance with Companies Act, 1956 (1 of 1956) or the

the SEBI Circular No. MIRSD/DPS-2/BTI/Cir- corresponding provision of any other law for

15/2008 dated May 06, 2008. the time being in force;

·Amalgamation, demerger, consolidation or any ·Change in Director, including managing

other kind of corporate restructuring falling director/ whole-time director;


Depository Participants15. Periodical Report- Grant of Prior Approval to

Bankers to an Issue


532

required to take prior approval from SEBI for change ·Change in shareholding not resulting in change in control.in control;

Pursuant to the aforesaid notification, commencing ·Any other purpose as may be considered from half year ended September 30, 2011, all CRAs appropriate by the Depositories.shall report the following change(s) to SEBI while

If there is no change during the relevant quarter, it submitting the Action Taken Report in accordance

shall be indicated in the report.with SEBI Circular No. SEBI/MIRSD/CRA/Cir-

01/2010 dated January 06, 2010.

The Depositories are directed to:·any other kind of corporate restructuring falling

·bring the provisions of this circular to the notice within the scope of section 391 of the

of the Depository Participants and also Companies Act, 1956 (1 of 1956) or the

disseminate the same on their websites; corresponding provision of any other law for

the time being in force;·make necessary amendments to the relevant bye-

laws, rules and regulations for the implemen- ·Change in Director, including managing

tation of the above decision in co-ordination director/ whole-time director;

with one another to achieve uniformity in ·Change in shareholding not resulting in change

approach;in control.

·communicate to SEBI, the status of the If there is no change during the relevant half year, it implementation of the provisions of this circular shall be indicated in the report.in their Monthly Development Reports.

Source: SEBI/MIRSD/8/2011 dated June 17, 2011.Source: SEBI/MIRSD/8/2011 dated June 20, 2011.

SEBI (Credit Rating Agencies) Regulations, 1999 As per SEBI circular no SMDRP/POLICY/CIR-{hereinafter referred to as "the said Regulations"}, 06/2000 dated January 31, 2000 on Internet Based have been amended vide notification no. LAD- Trading and SEBI circular no CIR/MRD/DP/ NRO/GN/2011-12/03/12650 dated April 19, 2011 25/2010 dated August 27, 2010 on Securities Trading {hereinafter referred to as "the said amendment"}, a using Wireless Technology, it has been decided that copy of which is available on SEBI website the stock exchange shall ensure that the broker www.sebi.gov.in. comply with the following –

With the said amendment, the requirement of taking ·The broker shall capture the IP (Internet

prior approval by the Credit Rating Agencies (CRAs) Protocol) address (from where the orders are

from SEBI for change in status or constitution has originating), for all IBT/ STWT orders.

been dispensed with. However, the CRAs would be

18. Review of Internet Based Trading (IBT) and 17. Periodical Report- Grant of Prior Approval to Securities Trading using Wireless Technology Credit Rating Agency (STWT)


533

·Further to the above, the following practice is ·The brokers system should have built-in high advisable –system availability to address any single point

failure. ·The back-up and restore systems implemented

by the broker should be adequate to deliver ·There should be secure end-to-end encryption sustained performance and high availability. The for all data transmission between the client and broker system should have on-site as well as the broker through a Secure Standardized remote site back-up capabilities.Protocol. A procedure of mutual authentication

between the client and the broker server should The clauses 1(a) to 1(g) shall be implemented within 9 be implemented. months from the date of this circular.

SEBI vide circular no SMDRP/POLICY/CIR-·The broker system should have adequate safety 06/2000 dated January 31, 2000 specified that features to ensure it is not susceptible to exchanges shall put in place a system for handling of internal/ external attacks.complaints with regard to IBT. In continuation to the

·In case of failure of IBT/ STWT, the alternate above, the exchanges shall put in place a system for

channel of communication shall have adequate monitoring of specific complaints with regard to

capabilities for client identification and unauthorized access using IBT.

authentication.Exchanges are advised to

·Two-factor authentication for login session may ·make necessary amendments to the relevant bye-be implemented for all orders emanating using

laws, rules and regulations for the implemen-Internet Protocol. Public Key Infrastructure tation of the above decision.(PKI) based implementation using digital

signatures, supported by one of the agencies ·bring the provisions of this circular to the notice certified by the government of India, is of the member brokers/clearing members of advisable. Further the two factors in the Two- the Exchange and also to disseminate the same factor authentication framework should not be on the website.same.

·communicate to SEBI, the status of the ·In case of no activity by the client, the system implementation of this circular in the Monthly

should provide for automatic trading session Development Report.logout. Source: SEBI/MRD/8/2011 dated June 30, 2011.


534

Parekh under section 15HB of the SEBI Act, ·SEBI imposed a penalty of 2,00,000/- (Rupees 1992 for violating Regulations 12(1) of the Two Lakhs only) on M/s. Vishal Concast Ltd. SEBI (PIT) Regulations, 1992.under section 15A(b) of the SEBI Act, 1992 for

violating the provisions of Regulations 13(1) ·SEBI imposed a combined penalty of 13(3) read with 13(5) of the SEBI (PIT) ` 45,00,00,000/- (Rupees Forty Five Crores Regulations, 1992. only) on Mr. Dipakbhai Jaswantlal Panchal and

Ms. Devangi Jaswantlal Panchal under section ·SEBI imposed a penalty of 3,00,000/- (Rupees

15HA of the SEBI Act, 1992 for violating Three Lakhs only) on Smt. Radha Dalmia under

section 12(a) (b) (c) of the SEBI Act, 1992 and section 15HA of the SEBI Act, 1992 for

Regulation 3(a) (b) (c) (d) and 4(1) of the SEBI violating Regulations 4(1) and 4(2) (a) (b) (d) &

(PFUTP) Regulations, 2003.(e) of the SEBI (PFUTP) Regulations, 2003.

·SEBI imposed a penalty of ` 25,000/- (Rupees ·SEBI imposed a penalty of ` 10,00,000/-

Twenty Five Thousand only) on M/s. Action (Rupees Ten Lakhs only) on Mr. M P Gupta, Mr.

Financial Services (India) Ltd. under section R P Gupta, Ms. Lata Gupta, Ms. Neeta Gupta,

15HB of the SEBI Act, 1992 for violating Ms. Laxmi Gupta, Mr. Amit Gupta, Ms.

Regulations 12(1) of the SEBI (PIT) Chanchal Gupta, Mr. Adarsh Gupta, Ms. Usha

Regulations, 1992.Gupta, M/s. Palsoft Infosystem Ltd. and M/s.

Autopal Marketing Pvt. Ltd. under section ·SEBI imposed a combined penalty of 15H(ii) of the SEBI Act, 1992 for violating

` 8,00,000/- (Rupees Eight Lakhs only) on Mr. Regulations 11(1) of the SEBI (SAST)

G R Surana, Mrs. Alka Surana, Mr. Vijayraj Regulations, 1997.

Surana, Mr. Shantilal Surana, Mrs. Vasantha

` Surana, Mrs. Sarladevi Surana, Mr. Dinesh ·SEBI imposed a penalty of 1,00,000/- (Rupees

Chandra Surana and Mrs. Chandabala Surana One Lakhs only) on M/s. Godwin Securities Pvt.

under section 15H(ii) of the SEBI Act, 1992 for Ltd. under section 15A(b) of the SEBI Act, 1992

violating Regulations 11(1) of the SEBI (SAST) for violating the provisions of Regulations 13(1)

Regulations, 1997.13(3) read with 13(5) of the SEBI (PIT)

Regulations, 1992.·SEBI imposed a combined penalty of

·SEBI imposed a penalty of ` 25,000/- (Rupees ` 10,00,000/- (Rupees Ten Lakhs only) on M/s.

Twenty Five Thousand only) on Mr. Bakul R Naivedhya Consultants Pvt. Ltd., M/s.

ORDER PASSED BY ADJUDICATING OFFICER AND CHAIRMAN/MEMBERS


535

Abhimukt Financial Pvt. Ltd., M/s. Sidhkay (PFUTP) Regulations, 2003.

Consultants Pvt. Ltd., M/s. Adihan Consultants ·SEBI imposed a penalty of 5,00,000/- (Rupees

Pvt. Ltd., M/s. Chrysalis Finance Ltd., M/s. Five Lakhs only) on M/s. Udhav Commercial

Chrysalis Industries Ltd., Mr. Sunil Kumar Pvt. Ltd. under section 15A(a) of the SEBI Act,

Handa and Mrs. Divyadeepti Handa under 1992 for violating Regulations 11C(3) and

section 15H(ii) of the SEBI Act, 1992 for 11C(5) of the SEBI Act,1992.

violating Regulations 11(2) of the SEBI (SAST) ·SEBI imposed a penalty of 5,00,000/- (Rupees Regulations, 1997.

Five Lakhs only) on M/s. Neelkanth Goods Pvt. ·SEBI imposed a penalty of 2,00,000/- (Rupees

Ltd. under section 15A(a) of the SEBI Act, 1992 Two Lakh only) on M/s. UPSE Securities Ltd.

for violating Regulations 11C(3) and 11C(5) of under section 15HB of the SEBI Act, 1992 for

the SEBI Act,1992.violating Regulations 12(1) of the SEBI (PIT)

·SEBI imposed a penalty of 5,00,000/- (Rupees Regulations, 1992.Five Lakhs only) on M/s. Dharavi Management

·SEBI imposed a combined penalty of Services Pvt. Ltd. under section 15A(a) of the

` 14,00,00,000 /- (Rupees Fourteen Crores only) SEBI Act, 1992 for violating Regulations 11C(3) on Mr. Dushyant Natwarlal Dalal and Mrs. and 11C(5) of the SEBI Act,1992.Puloma Dushyant Dalal under section 15HA of

·SEBI imposed a penalty of 4,00,000/- (Rupees the SEBI Act, 1992 for violating section 12(a) (b) Four Lakhs only) on M/s. Mukund Merchnadize (c) of the SEBI Act, 1992 and Regulation 3(a) (b) Pvt. Ltd. under section 15A(a) of the SEBI Act, (c) (d) and 4(1) of the SEBI (PFUTP) 1992 for violating Regulations 11C(3) and Regulations, 2003.11C(5) of the SEBI Act,1992.

·SEBI imposed a penalty of ` 10,00,000/- ·SEBI imposed a consolidated penalty of (Rupees Ten Lakhs only) on M/s. Silverline

` 75 ,000/- (Rupees Seventy Five Thousand Technologies Ltd. under section 15A(a) of the only) on Mr. Adolf Pinto under section 15HA SEBI Act, 1992 for violating Regulations 11C(2) and 15HB of the SEBI Act, 1992 for his failure read with Section 11C(3) of the SEBI Act,1992.to abide by the provisions of Regulations 4(1) &

·SEBI suspended the certificate of registration 4(2) (n) of SEBI (PFUTP) Regulations, 2003 as

of M/s. Tropical Securities and Investments Pvt. well as Clauses A(1) and A(3) of the code of

Ltd. for two months on account of violation of conduct prescribed for Stock Brokers in

the provisions of Regulation 4(b), (c) and (e) of Schedule II under Regulation 7 of SEBI (Stock

the SEBI (PFUTP) Regulations, 2003.Brokers and Sub-Brokers) Regulations, 1992.

·SEBI suspended the certificate of registration ·SEBI imposed a penalty of ` 75 ,000/- (Rupees

of M/s. CFL Securities Ltd. for two months on Seventy Five Thousand only) on Mr. Kenneth

account of violation of the provisions of Pinto under section 15HA of the SEBI Act,

Regulation 4(b), (c) and (e) of the SEBI 1992 for his failure to abide by the provisions of


536

Regulations 4(1) & 4(2) (a) (b) (c) of SEBI ·SEBI imposed a penalty of 5,00,000/- (Rupees (PFUTP) Regulations, 2003. Five Lakhs only) on M/s. Swarn Ganga

Trading(P) Ltd. under section 15A(a) of the ·SEBI imposed a penalty of ` 75 ,000/- (Rupees SEBI Act, 1992 for violating Regulations 11C(3) Seventy Five Thousand only) on Ms. Gillian and 11C(5) of the SEBI Act,1992.Pinto under section 15HA of the SEBI Act,

1992 for her failure to abide by the provisions of ·SEBI imposed a penalty of 5,00,000/- (Rupees Regulations 4(1) & 4(2) (a) (b) (g) of SEBI Five Lakhs only) on M/s. Dharavi Management (PFUTP) Regulations, 2003. Services Pvt. Ltd. under section 15A(a) of the

SEBI Act, 1992 for violating Regulations 11C(3) ·SEBI imposed a consolidated penalty of and 11C(5) of the SEBI Act,1992.` 2,50,000/- (Rupees Two Lakh Fifty Thousand

only) on M/s. Galaxy Broking Ltd. under section ·SEBI imposed a penalty of 1,10,000/- (Rupees

15HA and 15HB of the SEBI Act, 1992 for his One Lakh Ten thousand only) on M/s. S. P.

failure to abide by the provisions of Regulations Singh & Co. under section 11HB of the SEBI

3(a), 4(1) & 4(2) (a) (b) (g) of SEBI (PFUTP) Act, 1992 for violating Regulations 21 and 15r/w

Regulations, 2003 as well as Clauses A(1) to A(5) Clauses A(2) B(2) and D(2) of the code of

of the code of conduct prescribed for Stock conduct prescribed for Stock Brokers in

Brokers in Schedule II under Regulation 7 of Schedule II under Regulation 7 of SEBI (Stock

SEBI (Stock Brokers and Sub-Brokers) Brokers and Sub-Brokers) Regulations, 1992.

Regulations, 1992.·SEBI imposed a consolidated penalty of

·SEBI imposed a consolidated penalty of ` 6,00,000/- (Rupees Six Lakhs only) on M/s.

` 2,50,000/- (Rupees Seventy Five Thousand NCJ Share & Stock Brokers Ltd. into under

only) on M/s. Galaxy Broking Ltd. into under section 15HA and 15HB of the SEBI Act, 1992

section 15HA and 15HB of the SEBI Act, 1992 for his failure to abide by the provisions of

for his failure to abide by the provisions of Regulations 4(1), 4(2) (a) (b) (g) and (n) of SEBI

Regulations 3(a), 4(1), 4(2) (a) (b) (g) and (n) of (PFUTP) Regulations, 2003 as well as Clauses

SEBI (PFUTP) Regulations, 2003 as well as A(1) to A(5) of the code of conduct prescribed

Clauses A(1) to A(5) of the code of conduct for Stock Brokers in Schedule II under

prescribed for Stock Brokers in Schedule II Regulation 7 of SEBI (Stock Brokers and Sub-

under Regulation 7 of SEBI (Stock Brokers and Brokers) Regulations, 1992.

Sub-Brokers) Regulations, 1992.·SEBI suspended the certificate of registration

·SEBI imposed a penalty of 5,00,000/- (Rupees of M/s. C. R. Jain & Co. till the time outstanding

Five Lakhs only) on M/s. Anushree Tradelink registration fees is paid in full.

Pvt. Ltd. under section 15A(a) of the SEBI Act, ·SEBI imposed a penalty of 8,00,000/- (Rupees

1992 for violating Regulations 11C(2), 11C(3) Eight Lakhs only) on M/s. Mini Soft Ltd. under

and 11C(5) of the SEBI Act,1992.section 19D of the Depositories Act, 1996 for


537

violating Regulations 54(5) of the Depositories and 15A(b) of the SEBI Act, 1992 for his failure

Act, 1996 for delaying the process of to abide by the provisions of Regulations 3(a),

dematerialization. (b), (c), (d), 4(1), 4(2)(f) and 4(2)(r) of SEBI

(PFUTP) Regulations, 2003 and for not making ·SEBI imposed a penalty of 2,00,000/- (Rupees

necessary disclosures under Regulations 13(3) Two Lakhs only) on Shri Mahesh Kothari under

and 13(4) read with Regulations 13(5) of the section 15A(b) of the SEBI Act, 1992 for not

SEBI (PIT)Regulation,1992.making necessary disclosures under Regulations

7(1A) of the SEBI (SAST)Regulation,1997. ·SEBI imposed a consolidated penalty of

` 60,000/- (Rupees Sixty Thousand only) on ·SEBI imposed a penalty of 10,00,000/(Rupees Mrs. Kamaladevi Jain, Mrs. Anupama Jain and Ten Lakhs only) on Shri Mahendra Pandey under Mrs. Jayshree Jain under section 15A(b) of the section 15A(b) of the SEBI Act, 1992 for not SEBI Act, 1992 for not making necessary making necessary disclosures under Regulations disclosures under Regulations 7(1A) and 7(2) of 13(4) read with Regulations 13(5) of the SEBI the SEBI (SAST)Regulation,1997.(PIT)Regulation,1992.

·SEBI imposed a consolidated penalty of ·SEBI imposed a penalty of 10,00,000/(Rupees ` 50,000/- (Rupees Fifty Thousand only) on Ten Lakhs only) on Ms. Chetna Patel under M/s. Shamanjwali Metals Pvt. Ltd. under section 15A(a) of the SEBI Act, 1992 for section 15A(b) of the SEBI Act, 1992 for not violating Regulations 11C(2), 11C(3) and 11C(5) making necessary disclosures under Regulations of the SEBI Act,1992.7(1A) and 7(2) of the SEBI (SAST)Regulation,

·SEBI imposed a penalty of 10,00,000/(Rupees 1997 and Regulations 13(3) of the SEBI Ten Lakhs only) on Shri Brijesh Kothari under (PIT)Regulation,1992.section 15HA of the SEBI Act, 1992 for

·SEBI imposed a consolidated penalty of violating provisions of Regulations 3(a), (b), (c), ` 50,000/- (Rupees Fifty Thousand only) on (d), 4(1), 4(2)(f) and 4(2)(r) of the SEBI M/s. Cupid Trades and Finance Pvt. Ltd. under (PFUTP)Regulations, 2003.section 15A(b) of the SEBI Act, 1992 for not

·SEBI imposed a penalty of 10,00,000/(Rupees making necessary disclosures under Regulations Ten Lakhs only) on M/s. Alka Securities Ltd. 7(1A) and 7(2) of the SEBI (SAST)Regulation, under section 15HA of the SEBI Act, 1992 for 1997 and Regulations 13(3) of the SEBI violating provisions of Regulations 3(a), (b), (c), (PIT)Regulation,1992.(d), 4(1), 4(2)(f) and 4(2)(r) of the SEBI

·SEBI imposed a penalty of ` 25,000/- (Rupees (PFUTP)Regulations, 2003.Twenty Five Thousand only) on Shri Mir

·SEBI imposed a consolidated penalty of Hasnain Ali Khan under section 15A(b) of the ` 25,00 ,000 /- (Rupees Twenty Five Lakhs only) SEBI Act, 1992 for not making necessary on Ms. Alka M Pandey into under section 15HA disclosures under Regulations 13(3) read with


538

Regulations 13(5) of the SEBI (PIT) of Regulations 12(3) of the Model Code of

Regulation,1992. Conduct of the Insider Trading Regulations and

Regulation 3(i) and 4 of the SEBI(PIT) ·SEBI imposed a penalty of ` 25,000/- (Rupees

Regulations, 1992.Twenty Five Thousand only) on Shri Mir Ahmed

Ali Khan under section 15A(b) of the SEBI Act, ·SEBI imposed a penalty of 5,00,000/- (Rupees

1992 for not making necessary disclosures under Five Lakhs only) on M/s. Pioneer Embroideries

Regulations 13(3) read with Regulations 13(5) of Ltd. into under section 15HB of the SEBI Act,

the SEBI (PIT)Regulation,1992. 1992 for for violating provisions of Regulations

12(3) of the Model Code of Conduct of the ·SEBI imposed a consolidated penalty of

Insider Trading Regulations.` 7,00 ,000/- (Rupees Seven Lakhs only) on M/s.

·SEBI suspended the certificate of registration Mansukh Stock Brokers Ltd. into under section

of M/s. Bharti Thakkar India Securities Pvt. Ltd. 15HA and 15HB of the SEBI Act, 1992 for his

for a period of two weeks for violating the failure to abide by the provisions of Regulations

provisions of Regulation 4(a) (b) (c) and (d) of 4(1), 4(2) (a) (b) (g) and (n) of SEBI (PFUTP)

SEBI (PFUTP) Regulations, 2003 and Clauses Regulations, 2003 as well as Clauses A(1) to A(5)

A(1) to A(5) of the code of conduct prescribed of the code of conduct prescribed for Stock

for Stock Brokers in Schedule II under Brokers in Schedule II under Regulation 7 of

Regulation 7 of SEBI (Stock Brokers and Sub-SEBI (Stock Brokers and Sub-Brokers)

Brokers) Regulations, 1992.Regulations, 1992.

Note: Above information are indicative only. For details, ·SEBI imposed a consolidated penalty of

please log on to` 10,00,000/- (Rupees Ten Lakhs only) on Shri

www.sebi.gov.in/Index.jsp?contentDisp=Database.Rajkumar Sekhani under section 15HB and 15G

of the SEBI Act, 1992 for violating provisions


539

1. IMF Publishes Paper on Too-Important- 2. IMF Conducts FSAP Review of China

To-Fail Conundrum The International Monetary Fund (IMF) concluded

The International Monetary Fund has published a a Financial Sector Assessment Program (FSAP) and

paper that reviews the various policy options for review, and held discussions on the spillover effects

mitigating the risks posed by institutions perceived as of Chinese policies on the global economy. IMF

too-important-to-fail. The paper concludes that no acting director John Lipsky noted, “China still has a

private financial institution should be viewed by propensity for property bubbles driven by high

markets as being too important to be allowed to fail savings, cheap financing, low carrying costs, and the

and the implicit government backing they have lack of alternative investment instruments. Any

enjoyed has provided them with funding and durable solution will need to involve broader

competitive advantage over non-systemically financial development, a higher cost of capital, and

important financial institutions. Despite the widely increased real estate taxation.”

shared concern regarding the risks posed by these The mission particularly underlined the importance institutions, some have become even larger and more of financial sector reform in ensuring a smooth complex, worsening the associated moral hazard risk transformation of China's growth model toward a and the challenge of properly managing and more inclusive economy that is focused on supervising them, it notes. improving people's livelihoods. A successful reform

The paper recommends the following: more and liberalization of the financial sector would boost

stringent capital requirements to reduce the household income, lessen both corporate and

probability of failure and to limit systemic risk household savings, improve the efficiency of

contributions; intensive and proactive supervision investment, and mitigate the risk of asset bubbles. A

commensurate with their complexity and risks; roadmap for reform should include a strengthening

enhanced transparency and disclosure requirements of the monetary policy framework, improvements in

for early identification of risks; and effective the regulatory, supervision and financial stability

resolution regimes at the national and global level to framework, development of the financial markets,

make their resolution a credible, feasible, and viable deregulating loan and deposit interest rates, and

option in the event of non-viability. eventually moving to an open capital account with

the renminbi as a fully convertible currency, it said.Source: http://www.imf.org/external/pubs/ft/sdn/

2011/sdn1112.pdf. Source: http://www.imf.org/external/np/sec/pr/2011/

pr11225.htm.

HIGHLIGHTS OF DEVELOPMENTS ININTERNATIONAL SECURITIES MARKETS


540

3. BIS Publishes Report on Financial Stability

and Central Bank Governance

5. BCBS Issues Two Papers on Operational

Risk

4. BCBS Agrees on Consultative Document

on SIBs

6. BCBS Publishes Final Document on

Disclosure Requirements for Remuneration

facing the highest charge to increase materially their

global systemic importance in the future, an

additional 1 percent surcharge would be applied in The Bank of International Settlements (BIS) has such circumstances. The higher loss-absorbency published a report on the role central banks play in requirements will be introduced in parallel with the financial stability policies. The report examines Basel III capital conservation and countercyclical implications of the financial crisis for the financial buffers.stability mandates for central banks and arrives at the Source: http://www.bis.org/press/p110625.htm.following conclusions: central banks must be

involved in the formulation and execution of

financial stability policy; central banks need

appropriate tools and authorities to enforce such

measures; and roles and responsibilities must be The Basel Committee on Banking Supervision

clearly defined.(BCBS) published two papers on operational risk:

Source: http://www.bis.org/press/p110614.htm.Principles for the Sound Management of

Operational Risk; and Operational Risk -

Supervisory Guidelines for the Advanced

Measurement Approaches. The former highlights

the evolution of operational risk management since The Group of Governors and Heads of Supervision 2003 when the BCBS published their first (GHOS), the oversight body of the Basel Committee consultative document on the topic, while the latter on Banking Supervision (BCBS), agreed on a promotes improvement in the regulatory capital consultative document setting out measures for adequacy framework by setting out supervisory global systemically important banks (G-SIBs). These guidelines relating to governance, data and modeling. measures include the methodology for assessing Source: http://www.bis.org/publ/bcbs195.pdf.systemic importance, the additional required capital

and the arrangements by which they will be phased

in. The GHOS is submitting this consultative

document to the Financial Stability Board (FSB),

which is coordinating the overall set of measures to The BCBS published a final document on Pillar 3

reduce the moral hazard posed by global systemically disclosure requirements for remuneration intended

important financial institutions (G-SIFIs). to support an effective market discipline and allow

The additional loss-absorbency requirements are to market participants to assess the quality of a bank's be met with a progressive Common Equity Tier 1 compensation practices. The Committee's proposed (CET1) capital requirement ranging from 1 percent Pillar 3 disclosure requirements on remuneration add to 2.5 percent, depending on a bank's systemic greater specificity to the disclosure guidance. Banks importance. To provide a disincentive for banks will be expected to publish the disclosures on an


541

annual basis at a minimum and should aim to publish influence the outcomes in ways that are consistent

as soon as practicable after the information is with its objectives and philosophy,” it states.

available. Banks will also be required to disclose the Source: http://www.fsa.gov.uk/pubs/events/

fca_approach.pdf.requested information on remuneration on one site

or in one document and must ensure that access to

the site or document is readily available and public.

Source: http://bis.org/publ/bcbs197.pdf

The Korean Financial Services Commission (FSC)

and the Financial Supervisory Service (FSS) issued

guidelines on the issuance of covered bonds to

provide a framework for covered bond issuances, The Financial Services Authority (FSA) issued an diversifying banks' financing instruments and approach document that outlines how its successor encouraging banks to offer more long-term and body, the Financial Conduct Authority (FCA), will be fixed-rate mortgage loans instead of short-term and tougher, bolder and more engaged with consumers. floating-rate ones. Notably, covered bond issuers The document calls for more focus on wholesale must be banks with the BIS ratio over 10 percent or conduct and for the FCA to adopt a more issues- and securitization entities created by such banks and an sector-based supervisory approach across the 24,500 issuer is not permitted to issue covered bonds in firms that it will regulate for conduct and prudential excess of 4 percent of the issuers' total liability. An purposes. issuer must also maintain at least 5 percent of the

Notably, the document states that the FCA will need total value of outstanding issuance as excess

to be framed in an EU and international context. collateral. The release notes that after monitoring the

“This is particularly important given the growing issuances of covered bonds in the future, we will

influence of EU legislation and standards on UK have further discussions on whether to come up with

policymaking and supervisory practices. In both legally-binding regulations on covered bond

consumer protection and securities and markets issuances.

issues, the FCA will therefore engage early and Source: http://www.fsc.go.kr/eng/wn/list_qu.jsp? effectively in EU and international negotiations to menu =01&bbsid=BBS0048.

8. FSC/FSS Issues Guidelines on Covered

Bonds

7. FSA Outlines Financial Conduct Authority

Agenda

ANNEXURES


542

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

SEBI Registered Market Intermediaries/Institutions

Capital Raised from the Primary market through Public and Rights Issues

Capital Raised from the Primary Market through Qualified Institutions’ Placement (QIP)

Industry-wise Classification of Capital Raised through Public and Rights Issues

Sector-wise and Region-wise Distribution of Capital Mobilised through Public and Rights Issues

Size-wise Classification of Capital Raised through Public and Rights Issues

Distribution of Turnover on Cash Segments of Exchanges

Cash Segment of BSE

Cash Segment of NSE

Trends in Cash Segment of BSE, during June 2011

Trends in Cash Segment of NSE during June 2011

Turnover and Market Capitalisation at BSE and NSE during June 2011

Component Stocks: BSE Sensex during June 2011

Component Stocks: S&P CNX Nifty index during June 2011

Volatility of Major Indices

City-wise Distribution of Turnover on Cash Segments of BSE and NSE

Advances/Declines in Cash Segment of BSE and NSE (No. of Securities)

Trading Frequency in Cash Segment of BSE and NSE

Percentage Share of Top ‘N’ Securities/Members in Turnover of Cash Segment

Settlement Statistics for Cash Segment of BSE

Settlement Statistics for Cash Segment of NSE

Equity Derivatives Segment at BSE

Equity Derivatives Segment at NSE

Equity Derivatives Trading at NSE during June 2011

Settlement Statistics in Equity Derivatives Segment at BSE and NSE

Annexures

A1A Company-Wise Capital Raised through Public and Rights Issues during June 2011

A1B Preferential Allotments Listed at BSE and NSE

A3 Open Offers under SEBI Takeover Code closed during June 2011

A2 Rating Assigned to IPOs during June 2011

A4 Private Placement of Corporate Debt Reported to BSE and NSE

543


N.B. : 1. NA = Not Applicable/Available.

2. 1 crore = 10 million = 100 lakh.

3.

4.

The data for the current month is provisional.

The total provided in the Annexure and Statistical Tables may not always match with the sum total of the break-ups due to decimal differences.

26

27 A

27 B

27 C

28 A

28 B

28 C

29

30

Trends in Trading in the Corporate Debt Market

Trading Statistics of Currency Derivatives Segment at NSE

Trading Statistics of Currency Derivatives Segment at MCX_SX

Trading Statistics of Currency Derivatives Segment at USE

Daily Trends of Currency Derivatives Trading at NSE during June 2011

Daily Trends of Currency Derivatives Trading at MCX_SX during June 2011

Daily Trends of Currency Derivatives Trading at USE during June 2011

Settlement Statistics of Currency Derivatives Segment

Trading Statistics of Interest Rate Futures Segment

34

35

36A

36B

37

38

39

40.

41.

Daily Trends in Foreign Institutional Investment during June 2011

Trends in Resource Mobilization by Mutual Funds

Type-wise Resource Mobilisation by Mutual Funds: Open-ended and Close-ended

Scheme-wise Resource Mobilisation by Mutual Funds

Trends in Transactions on Stock Exchanges by Mutual Funds

Progress of Dematerialisation at NSDL and CDSL

Substantial Acquisition of Shares and Takeovers

Progress Report of NSDL & CDSl as on June 30, 2011 (Listed Companies)

42

43. Review of Accepted Ratings of Corporate Debt Securities (Maturity ≥ 1 year)

44. Macro Economic Indicators

31 Interest Rate Futures trading at NSE during June 2011

32 Settlement Statistics in Interest Rate Futures Segment

33 Trends in Foreign Institutional Investment

Daily Return and Volatility: Select World Stock Indices45.

Assets under the Custody of Custodians

Ratings Assigned for Long-term Corporate Debt Securities (Maturity ≥ 1 year)


544

Table A1 A: Company-Wise Capital Raised through Public and Rights Issues during June 2011

SL. No.

Name of the Issuer/Company

Date of Opening

Type of Issue

Type of Instrument

No. of Shares/Bonds

Issued

Par Value

( )

Premium Value (` )

Issue price

( ` )

Size of Issue

(` crore)

1 2 3 4 5 6 7 8 9 10

1 Wintac Ltd 13-Jun-11 Rights Equity 15,12,967 10 23 33 5

2 Birla Pacific Medspa Ltd 20-Jun-11 IPO Equity 6,51,75,000 10 0 10 65

3 Automotive Stampings &

Assemblies Ltd20-Jun-11 Rights Equity 56,65,856 10 42 52 29

4 Rushil Décor Ltd 20-Jun-11 IPO Equity 56,43,750 10 62 72 41

5 Readymade Steel India Ltd 27-Jun-11 IPO Equity 32,17,153 10 98 108 35

6 BAMPSL Securities Ltd 29-Jun-11 Rights Equity 20,59,88,160 1 0 1 21

Source: SEBI.

Note: All the Issues are compiled from the Prospectus’ of Issuer Companies filed with SEBI.

545


Table A1B : Preferential Allotments Listed at BSE and NSE

Year/ Month BSE@ NSE@

No.of issues

Amount (` crore)

No.of issues

Amount (` crore)

No.of issues

Amount (` crore)

No.of issues

Amount (` crore)

1 2 3 4 5 6 7 8 9

2010-11 83 1,393 156 12,072 134 17,046 373 30,511

2011-12$ 23 1,330 20 2,065 34 13,001 77 16,396

Apr-11 11 134 9 748 10 7,893 30 8,776

May-11 4 38 6 1,134 15 4,759 25 5,931

Jun-11 8 1,158 5 183 9 348 22 1,689

$ indicates as on June 30, 2011.


Common# Total

@ The issues are only listed at respective exchange.

# The issues listed both BSE and NSE.

546


Table A2 : Rating Assigned to IPOs during June 2011

Sr. No.

Name of the CompanyCredit Rating

AgenciesRating

Assigned

1 2 3 4

1 Sanco Industries Ltd. CARE 2

2 Relcon Infraprojects Ltd. CARE 3

3 Flexituff International Ltd. CARE 3

4 Onelife Capital Advisors Ltd CARE 1

5 Adroit Industries (India) Ltd CARE 2

6 PointRed Telecom Ltd CARE 2

7 Brooks Laboratories Limited ICRA 2

8 Max Flex & Imaging systems Limited ICRA 3

9 L&T Finance Holdings Limited ICRA 5

10 Tijaria Polypipes Limited ICRA 2

11 Olympic Cards Ltd CRISIL 1

12 Multi Commodity Exchange of India Limited CRISIL 5

13 Speciality Restaurants Limited CRISIL 4

14 NetAlter Software Limited CRISIL 1

Note : a) IPO grading is the grade assigned by a Credit Rating Agency (CRA) registered with SEBI.

b) The IPO grading is assigned on a five point scale from 1 to 5 with an “IPO Grade 5” indicating strong fundamentals..and an “IPO Grade 1” indicating poor fundamentals.

Source: Credit Rating Agencies.


Table A3 : Open Offers under SEBI Takeover Code closed during June 2011

547

No. of Shares

Percent of Equity Capital

1 2 3 4 5 6 7 8

1 Luminaire Technologies Limited Vandana Cloth Centre Pvt Ltd 27-May-11 15-Jun-11 48,00,000 20.0 69

2 Baid Global Ventures Ltd(Chisel & Hammer (Mobel) Ltd)

Vijayrath Mercantile Pvt.Ltd and Pacs

15-Jun-11 04-Jul-11 3,95,911 20.0 55

AcquirerOffer

Opening

Date

Offer Closing

Date

Offer Size Offer Price

(`) per share

Sl. No.

Target Company


548

Table A4: Private Placement of Corporate Debt Reported to BSE and NSE

Month No. of Issues

Amount

( crore)

No. of Issues

Amount

( crore)

No. of Issues

Amount

( crore)

No. of Issues

Amount

( crore)

1 2 3 4 5 6 7 8 9

2007-08 580 90,718 120 11,711 44 16,056 744 1,18,485

2008-09 699 1,24,810 285 17,045 57 31,426 1,041 1,73,281

2009-10 647 1,43,286 597 49,739 34 19,610 1,278 2,12,635

2010-11 774 1,53,370 591 52,591 39 12,825 1,404 2,18,785

2011-12$ 213 35,236 173 11,373 2 4,650 388 51,258

Apr-11 88 10,322 67 8,316 0 0 155 18,639

May-11 51 7,405 61 1,543 2 4,650 114 13,598

Jun-11 74 17,508 45 1,514 0 0 119 19,022


@ The issues are only listed at respective exchange.

# The issues listed both BSE and NSE.

NSE BSE Common Total


Table 1: SEBI Registered Market Intermediaries/Institutions


549

Market Intermediaries 2008-09 2009-10 2010-11 2011-12$

1 2 3 4 5

Stock Exchanges (Cash Market) 19 19 19 19

Stock Exchanges (Derivatives Market) 2 2 2 2

Stock Exchanges (Currency Derivatives) 3 4 4 4

Brokers (Cash Segment)* 9,628 9,772 10,203 10,234

Corporate Brokers (Cash Segment) 4,079 4,197 4,774 4,806

Brokers (Derivative) 1,587 1,705 2,111 2,162

Brokers (Currency Derivatives) 1,154 1,459 2,008 2,058

Sub-brokers (Cash Segment) 62,471 75,378 83,808 82,143

Foreign Institutional Investors 1,635 1,713 1,722 1,729

Sub-accounts 4,967 5,378 5,686 5,890

Custodians 16 17 17 19

Depositories 2 2 2 2

Depository Participants 714 758 805 819

Merchant Bankers 134 164 192 194

Bankers to an Issue 51 48 55 56

Underwriters 19 5 3 3

Debenture Trustees 30 30 29 30

Credit Rating Agencies 5 5 6 6

Venture Capital Funds 132 158 184 188

Foreign Venture Capital Investors 129 143 153 162

Registrars to an Issue & Share Transfer Agents 71 74 73 73

Portfolio Managers 232 243 267 262

Mutual Funds 44 47 51 51

Collective Investment Schemes 1 1 1 1

Approved Intermediaries (Stock Lending Schemes) 2 2 2 2

STP (Centralised Hub) 1 1 1 1

STP Service Providers 2 2 2 2

$ indicates as on June 30, 2011.*Including brokers on Mangalore SE (58), HSE (303), Magadh SE (197), SKSE (410).


550

Tab

le 2

: C

apit

al R

aise

d f

rom

th

e P

rim

ary

Mar

ket

th

rou

gh

Pu

bli

c an

d R

igh

ts I

ssu

es

Am

ou

nt

cro

re)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

45

67

89

1011

1213

1415

1617

1819

16,2

2022

3,58

225

12,6

3725

12,6

3721

2,08

25

9640

14,1

761

448

11,

500

57,5

5547

49,2

3629

8,31

934

30,3

5939

24,6

961

971

54,8

661

180

32,

500

67,6

0968

58,1

0523

9,50

328

22,5

9953

35,5

592

5078

57,6

171

490

109,

451

8,00

015

7,94

53

554

4,63

313

2,36

72

8615

6,91

40

01

1,00

0

2,02

36

2,02

3

00

00

62,

023

00

62,

023

0

00

0

4,78

15

4,78

1

00

145

78.2

420

3

00

54,

781

0

00

0

1,19

64

1,14

1

355

355

314

1

286

411

0

00

11,

000

$ in

dic

ates

as

on

Ju

ne

30,

2011

.

Cat

ego

ry-w

ise

Issu

er-t

ype

(Eq

uit

y)In

stru

men

t-w

ise

Pu

bli

c R

igh

ts

L

iste

dA

t P

ar

Th

e to

tal

are

incl

ud

e ei

ther

Pu

bli

c p

lus

Rig

hts

or

Eq

uit

y p

lus

Deb

t o

r E

qu

itie

s p

lus

CC

Ps/

FC

Ds

and

Deb

t.

All

th

e Is

sues

are

co

mp

iled

fro

m t

he

Pro

spec

tus’

of

Issu

er C

om

pan

ies

file

d w

ith

SE

BI.

At

Pre

miu

mIP

Os

Eq

uit

ies

C

CP

S/

FC

Ds

Deb

t

FC

D:

Fu

lly

Co

nve

rtib

le D

eben

ture

; C

CP

S:

Cu

mu

lati

ve C

on

vert

ible

Pre

fere

nce

Sh

are.

On

e P

ub

lic

Issu

e o

f N

CD

was

Sh

rira

m T

ran

spo

rt F

inan

ce C

om

pan

y L

imit

ed,

the

Pro

visi

on

al v

alu

e o

f th

e is

sue

is `

1,0

00 c

rore

s.

No

. o

f

issu

e(`

12

3

2008

-09

47

2009

-10

76

2010

-11

91

2011

-12$

18

Ap

r-11

6

May

-11

5

Ju

n-1

17

Yea

r/M

on

th

To

tal


Table 3 : Capital Raised by Listed Companies from the Primary Market through QIPs

551

No. of issues

Amount

(` crore)No. of issues

Amount

(` crore)No. of issues

Amount

(` crore)

1 2 3 4 5 4 5

2008-09 2 189 1 75 2 189

2009-10 61 42,484 62 42,729 62 42,729

2010-11 46 22,987 50 25,860 50 25,861

2011-12$ 2 568 2 568 2 568

Apr-11 0 0 0 0 0 0

May-11 1 55 1 55 1 55

Jun-11 1 513 1 513 1 513

Year/Month

NSE Total

Source : BSE and NSE.

BSE


Table 4: Industry-wise Classification of Capital Raised through Public and Rights Issues


552

2009-10

No. of issue

Amount

(` crore)No. of issue

Amount


Amount


Amount

(` crore)

1 4 5 6 7 6 7 8 9

Banking/FIs 6 3,138 18 17,248 1 1,000 1 1,000

Cement & Construction 8 2,780 3 2,841 0 0 0 0

Chemical 1 36 5 247 0 0 0 0

Electronics 1 1,156 0 0 0 0 0 0

Engineering 1 50 5 1,394 1 217 0 0

Entertainment 9 2,461 4 715 0 0 0 0

Finance 2 1,826 3 2,210 4 6,250 1 21

Food Processing 2 443 1 1,245 0 0 0 0

Health Care 3 1,059 3 292 1 65 1 65

Information Technology 6 540 1 170 0 0 0 0

Paper & Pulp 1 35 0 0 1 60 0 0

Plastic 1 39 0 0 0 0 0 0

Power 6 25,293 4 9,469 0 0 0 0

Printing 0 0 1 52 1 46 0 0

Telecommunication 0 0 0 0 0 0 0 0

Textile 3 237 3 207 0 0 0 0

Others 26 18,461 40 31,519 9 362 4 110

Total 76 57,555 91 67,609 18 8,000 7 1,196

$ indicates as on June 30, 2011.One Public Issue of NCD was Shriram Transport Finance Company Limited, the Provisional value of the issue is ` 1,000 crores.

Jun-11Industry 2010-11 2011-12$


553

Tab

le 5

: S

ecto

r-w

ise

and

Reg

ion

-wis

e D

istr

ibu

tio

n o

f C

apit

al M

ob

ilis

ed t

hro

ug

h P

ub

lic

and

Rig

hts

Iss

ues

No

. o

f is

sue

Am

ou

nt

(` c

rore

)

No

. o

f is

sue

Am

ou

nt

( c

rore

)

No

. o

f is

sue

Am

ou

nt

(` c

rore

)

No

. o

f is

sue

Am

ou

nt

( c

rore

)

No

. o

f is

sue

Am

ou

nt

( c

rore

)

No

. o

f is

sue

Am

ou

nt

(` c

rore

)

No

. o

f is

sue

Am

ou

nt

( c

rore

)

No

. o

f is

sue

Am

ou

nt

(` c

rore

)

12

34

56

78

910

1112

1314

1516

17

2008

-09

4716

,220

4716

,220

00

62,

902

531

521

11,2

0215

1,80

00

0

2009

-10

7657

,555

7026

,438

631

,117

1724

,714

104,

175

3615

,796

1312

,870

00

2010

-11

9167

,609

7729

,385

1438

,223

2016

,356

817

,190

3521

,479

2710

,097

12,

487

2011

-12$

188,

000

162,

422

25,

578

24,

599

149

111,

386

41,

966

00

Ap

r-11

62,

023

62,

023

00

00

149

31,

013

296

10

0

May

-11

54,

781

420

31

4,57

81

4,57

80

04

203

00

00

Jun

-11

71,

196

619

61

1,00

01

210

04

170

21,

005

00

$ in

dic

ates

as

on

Ju

ne

30,

2011

.

Th

e to

tal

is e

ith

er a

to

tal

of

Sec

to-w

ise

clas

sifi

cati

on

or

Reg

ion

-wis

e cl

assi

fica

tio

n.

Yea

r/M

on

th

To

tal

Sec

tor-

wis

e

Pri

vate

Pu

bli

c N

ort

her

n E

aste

rnW

este

rnS

ou

ther

n

Reg

ion

-wis

e

Fo

reig

n

On

e P

ub

lic

Issu

e o

f N

CD

was

Sh

rira

m T

ran

spo

rt F

inan

ce C

om

pan

y L

imit

ed,

the

Pro

visi

on

al v

alu

e o

f th

e is

sue

is

1,0

00 c

rore

s.


554

Tab

le 6

: S

ize-

wis

e C

lass

ific

atio

n o

f C

apit

al R

aise

d t

hro

ug

h P

ub

lic

and

Rig

hts

Iss

ues

No

. o

f is

sue

Am

ou

nt

( c

rore

)N

o.

of

issu

e

Am

ou

nt

( c

rore

)N

o.

of

issu

e

Am

ou

nt

( c

rore

)N

o.

of

issu

e

Am

ou

nt

( c

rore

)N

o.

of

issu

e

Am

ou

nt

( c

rore

)N

o.

of

issu

e

Am

ou

nt

( c

rore

)

12

34

56

78

910

1112

13

2008

-09

4716

,220

13

17

2150

96

445

1815

,255

2009

-10

7657

,555

12

324

1859

69

636

4556

,298

2010

-11

9167

,609

12

211

1345

520

1,40

655

65,7

35

2011

-12$

188,

000

15

00

930

62

125

67,

564

Ap

r-11

62,

023

00

00

295

160

31,

869

May

-11

54,

781

00

00

386

00

24,

695

Jun

-11

71,

196

15

00

412

51

651

1,00

0

$ in

dic

ates

as

on

Ju

ne

30,

2011

.

On

e P

ub

lic

Issu

e o

f N

CD

was

Sh

rira

m T

ran

spo

rt F

inan

ce C

om

pan

y L

imit

ed,

the

Pro

visi

on

al v

alu

e o

f th

e is

sue

is

1,0

00 c

rore

s.

Yea

r/M

on

th

³ 1

00 c

rore

³ 5

0 cr

ore

- <

100

cro

re³

10

cro

re -

< 5

0 cr

ore

³ 5

cro

re -

< 1

0cro

re <

5 c

rore

To

tal


Table 7: Distribution of Turnover on Cash Segments of Exchanges (` crore)

555

Stock Exchanges 2009-10 2010-11 2011-12$ Jun-11

1 3 4 4 5

Ahmedabad Nil Nil Nil Nil

Bangalore Nil Nil Nil Nil

Bhubaneshwar Nil Nil Nil Nil

BSE 13,78,809 11,05,027 1,88,168 59,337

Calcutta 1,612 2,597 Nil NA

Cochin Nil Nil Nil Nil

Coimbatore Nil Nil Nil Nil

Delhi Nil Nil Nil Nil

Gauhati Nil Nil Nil Nil

Hyderabad Nil Nil Nil Nil

ISE Nil Nil Nil Nil

Jaipur Nil Nil Nil Nil

Ludhiana Nil Nil Nil Nil

Madhya Pradesh Nil Nil Nil Nil

Madras Nil Nil Nil Nil

Magadh (Patna) Nil Nil Nil Nil

NSE 41,38,023 35,77,410 6,84,682 2,22,457

OTCEI Nil Nil Nil Nil

Pune Nil Nil Nil Nil

SKSE Nil Nil Nil Nil

Uttar Pradesh 25 Nil Nil Nil

Vadodara Nil Nil Nil Nil


Source: Various Exchanges.


556

Tab

le 8

: Cas

h S

egm

ent

of

BSE

Hig

hL

owC

lose

12

34

56

78

910

1112

1314

1516

2008

-09

4,92

966

3,19

424

35,

408

7,39

,600

11,0

0,07

44,

527

20,3

427,

39,2

8710

,99,

871

30,8

6,07

517

735.

776

97.4

9708

.5

2009

-10

4,97

586

3,29

724

46,

056

11,3

6,51

313

,78,

809

5,65

122

,768

11,3

5,75

013

,78,

529

61,6

5,61

917

793.

095

46.3

1752

7.8

2010

-11

5,06

791

2,93

325

55,

285

9,90

,777

11,0

5,02

74,

333

20,9

109,

89,9

9911

,03,

978

68,3

9,08

421

108.

615

960.

219

445.

2

2011

-12$

5,08

592

2,96

862

998

1,73

,230

1,88

,168

3,03

518

,850

1,73

,207

1,88

,043

67,3

0,94

719

811.

117

314.

418

845.

9

Apr

-11

5,06

991

2,97

718

327

62,2

6269

,336

3,85

221

,206

62,2

1769

,284

69,0

8,09

019

811.

118

976.

219

136.

0

May

-11

5,07

891

2,92

222

336

53,8

7459

,494

2,70

417

,692

53,8

5359

,459

67,3

1,86

919

253.

917

786.

118

503.

3

Jun-

115,

085

922,

968

2233

557

,094

59,3

372,

697

17,7

1357

,138

59,3

0067

,30,

947

1887

3.4

1731

4.4

1884

5.9

Sou

rce:

BSE

.

$ in

dic

ates

as

on

Ju

ne

30, 2

011.

BSE

Sen

sex

Ave

rage

D

aily

Tu

rnov

er

(` c

rore

)

Ave

rage

T

rad

e

Size

(`)

Dem

at

Secu

riti

es

Tra

ded

(L

akh

)

Dem

at

Tu

rnov

er

(` c

rore

)

Mar

ket

C

apit

alis

ati

on

(` c

rore

)

No.

of

Com

pa

nie

s L

iste

d

Mon

th/

Yea

rT

urn

over

(` c

rore

)

Tra

ded

Q

uan

tity

(Lak

h)

No.

of

Tra

des

(Lak

h)

No.

of

Tra

ding

Day

s

No.

of

com

-

pan

ies

trad

ed

No.

of

Com

pan

ies

Per

mit

ted


557

Tab

le 9

: C

ash

Seg

men

t o

f N

SE

12

34

56

78

910

1112

1314

1516

2008

-09

1,43

237

1,29

124

313

,650

14,2

6,35

527

,52,

023

11,3

2520

,161

14,2

6,35

527

,52,

023

28,9

6,19

452

98.9

2252

.830

21.0

2009

-10

1,47

037

1,35

924

416

,816

22,1

5,53

041

,38,

023

16,9

5924

,608

22,1

5,53

041

,38,

023

60,0

9,17

353

29.6

2965

.752

49.1

2010

-11

1,57

461

1,45

025

515

,507

18,2

4,51

535

,77,

410

14,0

2923

,070

18,2

4,51

535

,77,

410

67,0

2,61

663

38.5

4786

.558

33.8

2011

-12$

1,59

961

1,47

462

3,38

43,

67,5

856,

84,6

8211

,043

20,2

353,

67,5

856,

84,6

8265

,74,

743

5944

.551

95.9

5647

.4

Apr

-11

1,57

861

1,45

318

1,07

31,

29,4

292,

28,3

4812

,686

21,2

731,

29,4

292,

28,3

4867

,53,

614

5944

.556

93.3

5749

.5

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of

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men

t o

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Hig

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5 6

7 8

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12

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X N

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dex

Tab

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1: T

ren

ds

in C

ash

Seg

men

t o

f N

SE

du

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g J

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11

Hig

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12

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982

18,8

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281

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Sou

rce:

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.

Dat

e

No.

of

Com

pan

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Tra

ded

No.

of

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560

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2: T

urn

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an

d M

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et C

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n a

t B

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d N

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du

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Jun-

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1157

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813

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Tur

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5,24

722

.131

.616

,57,

758

3,38

,549

65,2

7,99

525

.39

5.19

14,8

0,60

521

,23,

481

67,2

4,11

722

.031

.616

,64,

991

3,41

,015

65,6

7,28

125

.35

5.19

14,7

2,49

321

,13,

915

67,0

9,19

321

.931

.516

,56,

213

3,40

,635

65,5

3,37

225

.27

5.20

14,7

1,74

221

,11,

767

67,0

6,08

721

.931

.516

,54,

467

3,39

,763

65,4

6,68

625

.27

5.19

14,6

2,42

620

,98,

211

66,6

8,68

821

.931

.516

,43,

900

3,37

,873

65,1

1,53

825

.25

5.19

14,6

2,55

220

,99,

312

66,7

9,32

021

.931

.416

,43,

177

3,38

,278

65,1

3,34

925

.23

5.19

14,6

5,96

621

,06,

547

67,1

1,07

221

.831

.416

,48,

479

3,39

,615

65,4

5,38

025

.19

5.19

14,5

1,84

020

,85,

361

66,5

3,85

621

.831

.316

,32,

595

3,36

,422

64,9

0,49

125

.15

5.18

14,4

0,12

120

,67,

081

66,0

6,43

621

.831

.316

,17,

392

3,33

,365

64,3

9,50

625

.12

5.18

14,3

0,88

520

,53,

865

65,5

8,95

421

.831

.316

,08,

293

3,31

,075

63,9

9,10

925

.13

5.17

14,0

1,74

820

,12,

804

64,1

6,31

421

.831

.415

,75,

784

3,25

,165

62,5

8,50

325

.18

5.20

14,0

6,04

520

,17,

189

64,1

5,33

221

.931

.415

,81,

158

3,24

,299

62,5

9,05

225

.26

5.18

14,0

5,27

120

,15,

260

63,8

9,45

822

.031

.515

,81,

890

3,22

,015

62,3

2,96

125

.38

5.17

14,1

9,43

220

,28,

191

64,1

0,49

122

.131

.615

,94,

392

3,22

,576

62,5

4,64

925

.49

5.16

14,6

0,52

320

,84,

123

65,6

7,84

822

.231

.716

,39,

715

3,29

,395

64,1

1,48

425

.57

5.14

14,7

4,27

421

,07,

237

66,3

9,31

922

.231

.716

,56,

311

3,35

,424

64,8

3,04

625

.55

5.17

14,8

0,68

221

,12,

904

66,5

4,98

722

.231

.716

,61,

915

3,34

,849

64,9

7,27

425

.58

5.15

14,9

6,80

921

,31,

262

66,9

8,70

722

.331

.816

,78,

436

3,35

,536

65,4

0,24

125

.66

5.13

15,0

8,98

021

,45,

696

67,3

0,94

622

.431

.916

,92,

504

3,36

,578

65,7

4,74

325

.74

5.12

Mar

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561

Table 13: Component Stocks: BSE Sensex during June 2011

Sl. No.

Name of Security Issued Capital

( crore)

Market Capitalisation

( crore)

Weightage (Percent)

Beta R2 Daily Volatility

(Percent)

Monthly Return

(Percent)

Impact Cost

(Percent)

1 2 3 4 5 6 7 8 9 10

1 BAJAJ AUTO 289 40,682 1.3 0.7 0.0 4.7 4.6 0.2

2 BHARTI ARTL 1,899 1,50,097 3.5 0.7 0.2 1.8 5.6 0.1

3 BHEL 490 1,00,183 2.3 0.8 0.3 1.5 5.3 0.1

4 CIPLA LTD. 161 26,525 1.1 0.7 0.2 1.5 1.3 0.4

5 DLF LIMITED 340 35,742 0.6 1.4 0.5 2.3 -11.7 0.2

6 HDFC BANK LT 466 1,16,718 6.2 1.0 0.5 1.5 4.8 0.1

7 HEROHONDA M 40 37,496 1.2 0.6 0.1 2.3 1.3 0.1

8 HIND UNI LT 216 74,016 2.5 0.6 0.2 1.5 12.4 0.2

9 HINDALCO IN 192 34,725 1.6 1.4 0.5 2.2 -8.2 0.2

10 HOUSING DEVE 293 1,03,088 6.1 1.2 0.5 1.7 3.1 0.1

11 I T C LTD 774 1,56,659 7.3 0.7 0.3 1.5 4.7 0.1

12 ICICI BANK L 1,152 1,25,935 8.3 1.4 0.6 1.9 0.7 0.1

13 INFOSYS TECH 287 1,66,929 9.4 0.8 0.4 1.4 4.1 0.1

14 JAIPRAK ASSO 425 17,192 0.6 1.7 0.5 2.7 -6.5 0.2

15 JINDAL STEEL 93 60,851 1.8 1.0 0.5 1.5 0.2 0.2

16 LARSEN & TOU 122 1,11,186 6.6 1.1 0.5 1.7 10.9 0.1

17 MAHINDRA & M 307 43,058 2.3 1.2 0.4 2.0 4.3 0.1

18 MARUTISUZUK 144 33,469 1.1 0.9 0.3 1.7 -5.6 0.2

19 NTPC LTD 8,245 1,54,067 2.0 0.7 0.3 1.4 10.6 0.4

20 ONG CORP LTD 4,278 2,34,378 3.1 0.7 0.3 1.6 -2.7 0.1

21 REL COM LTD 1,032 19,753 0.5 1.1 0.2 2.6 7.0 0.2

22 REL INFRA 265 14,205 0.5 1.1 0.2 2.6 -5.8 0.2

23 RELIANCE 3,273 2,93,822 10.7 0.9 0.5 1.5 -5.7 0.0

24 STATE BANK O 635 1,52,778 4.6 1.3 0.5 2.0 4.7 0.0

25 STERLITE IN 336 56,477 1.7 1.2 0.4 2.1 -2.1 0.2

26 TATA MOTORS 538 53,475 2.5 1.3 0.4 2.2 -9.1 0.1

27 TATA POWER 237 30,935 1.4 0.6 0.2 1.3 5.8 0.4

28 TATA STL 959 58,387 2.7 1.1 0.5 1.8 3.3 0.1

29 TCS LTD. 196 2,31,021 4.6 1.0 0.4 1.7 1.9 0.1

30 WIPRO LTD. 491 1,02,521 1.7 0.8 0.3 1.6 -6.5 0.4

Volatility is the standard deviation of the daily returns for the period July 1, 2010 - June 30, 2011.

2 Beta & R are calculated for the period July 1, 2010 - June 30, 2011. Beta measures the degree to which any portfolio of stocks is affected 2as compared to the effect on the market as a whole. The coefficient of determination (R ) measures the strength of relationship between

two variables the return on a security versus that of the market.

Impact cost is calculated as the difference between actual buy price and ideal buy price, divided by ideal buy price, multiplied by 100.

Hence ideal price is calculated as (best buy + best sell)/2. It is calculated for a month for the portfolio size of Rs. 5 lakh. It is calculated for the period July 1, 2010 - June 30, 2011.Source: BSE.


562

Table 14: Component Stocks : S&P CNX Nifty Index during June 2011

Sl. No.

Name of Security

Issued Capital (` crore)

Market Capitalisation

( crore)

Weightage (Percent)

Beta R2 Daily Volatility (Percent)

Monthly Return

(Percent)

Impact Cost

(Percent)

1 2 3 4 5 6 7 8 9 10 1 ACC Ltd. 187.7 9,047.0 0.5 0.7 0.5 1.3 -7.5 0.12 Ambuja Cements Ltd. 306.2 11,000.0 0.7 1.0 0.5 2.0 -3.7 0.13 Axis Bank Ltd. 410.9 33,270.0 2.0 1.4 0.7 1.4 0.6 0.14 Bajaj Auto Ltd. 289.4 18,883.0 1.1 0.7 0.5 1.5 4.7 0.15 Bharti Airtel Ltd. 1,898.8 47,551.0 2.8 0.7 0.4 1.4 5.6 0.16 Bharat Heavy Electricals Ltd. 489.5 32,401.0 1.9 0.8 0.6 1.0 5.5 0.17 Bharat Petroleum Corporation Ltd. 361.5 8,402.0 0.5 0.8 0.4 1.6 2.7 0.18 Cairn India Ltd. 1,902.2

11,567.0

0.7

0.6

0.4

1.4

-8.0 0.19 Cipla Ltd. 160.6

16,799.0

1.0

0.7

0.5

1.5

1.5 0.110 DLF Ltd. 339.5

7,634.0

0.5

1.5

0.7

1.4

-11.9 0.111 Dr. Reddy's Laboratories Ltd. 84.6

19,277.0

1.1

0.6

0.4

1.2

-5.2 0.112 GAIL (India) Ltd. 1,268.5

19,818.0

1.2

0.6

0.5

1.4

-0.8 0.113 Grasim Industries Ltd. 91.7

13,305.0

0.8

0.7

0.5

1.5

-9.0 0.114 HCL Technologies Ltd. 137.5

12,022.0

0.7

1.0

0.6

1.5

-3.9 0.115 Housing Development Finance Corporation Ltd. 293.5

91,845.0

5.4

1.2

0.7

1.6

3.3 0.116 HDFC Bank Ltd. 466.4

89,924.0

5.3

1.1

0.7

1.1

4.8 0.117 Hero Honda Motors Ltd. 39.9

17,914.0

1.1

0.6

0.3

1.7

1.2 0.118 Hindalco Industries Ltd. 191.4

23,202.0

1.4

1.4

0.7

1.7

-8.5 0.119 Hindustan Unilever Ltd. 215.9

35,202.0

2.1

0.6

0.4

1.7

12.8 0.120 ICICI Bank Ltd. 1,151.8

126,082.0

7.5

1.4

0.8

1.3

0.8 0.121 Infrastructure Development Finance Co. Ltd. 1,461.8

15,747.0

0.9

1.4

0.7

2.0

-7.7 0.122 Infosys Ltd. 287.1

140,303.0

8.3

0.8

0.6

1.1

4.5 0.023 I T C Ltd. 773.8

108,072.0

6.4

0.8

0.5

1.4

5.0 0.124 Jindal Steel & Power Ltd. 93.5

25,350.0

1.5

1.0

0.7

1.4

0.5 0.125 Jaiprakash Associates Ltd. 425.3

9,148.0

0.5

1.8

0.7

2.2

-6.5 0.126 Kotak Mahindra Bank Ltd. 368.7

16,967.0

1.0

1.2

0.7

1.4

8.6 0.127 Larsen & Toubro Ltd. 121.9

97,591.0

5.8

1.1

0.7

1.6

11.1 0.128 Mahindra & Mahindra Ltd. 307.0

32,364.0

1.9

1.2

0.6

1.5

4.4 0.1

29 Maruti Suzuki India Ltd. 144.5

15,345.0

0.9

0.9

0.5

1.4

-5.7 0.1

30 NTPC Ltd. 8,245.5

23,888.0

1.4

0.7

0.6

1.5

11.1 0.131 Oil & Natural Gas Corporation Ltd. 4,277.7 36,996.0 2.2 0.8 0.5 1.7 -2.4 0.132 Punjab National Bank 315.3 14,425.0 0.9 0.9 0.6 1.0 -0.9 0.133 Power Grid Corporation of India Ltd. 4,629.7 15,502.0 0.9 0.5 0.4 1.3 8.4 0.134 Ranbaxy Laboratories Ltd. 210.7

8,260.0

0.5

0.9

0.5

1.7

-1.9 0.1

35 Reliance Communications Ltd. 1,032.0

6,348.0

0.4

1.2

0.5

2.7

6.9 0.1

36 Reliance Capital Ltd. 245.6

6,516.0

0.4

1.2

0.6

2.0

15.4 0.137 Reliance Industries Ltd. 3,273.6

151,498.0

9.0

0.9

0.7

1.6

-5.6 0.138 Reliance Infrastructure Ltd. 265.8

7,435.0

0.4

1.1

0.4

2.1

-6.0 0.139 Reliance Power Ltd. 2,805.1

6,366.0

0.4

1.0

0.5

1.7

-1.8 0.140 Steel Authority of India Ltd. 4,130.4

8,054.0

0.5

1.1

0.6

1.8

-2.2 0.141 State Bank of India 635.0

61,990.0

3.7

1.3

0.7

1.6

4.6 0.042 Sesa Goa Ltd. 86.9

11,000.0

0.7

1.1

0.5

2.1

-2.7 0.143 Siemens Ltd. 68.1

7,588.0

0.5

0.6

0.3

1.3

1.9 0.144 Sterlite Industries (India) Ltd. 336.2

23,912.0

1.4

1.3

0.6

1.6

-1.9 0.145 Sun Pharmaceutical Industries Ltd. 103.6

18,709.0

1.1

0.7

0.4

1.6

4.3 0.146 Tata Motors Ltd. 538.3

34,877.0

2.1

1.3

0.6

1.6

-9.2 0.147 Tata Power Co. Ltd. 237.3 21,171.0 1.3 0.6 0.5 1.1 6.2 0.148 Tata Steel Ltd. 959.2 40,626.0 2.4 1.2 0.7 1.6 3.6 0.149 Tata Consultancy Services Ltd. 195.7 60,144.0 3.6 1.0 0.6 1.9 2.3 0.150 Wipro Ltd. 490.9 21,168.0 1.3 0.8 0.6 1.3 -6.5 0.1

Source: NSE.

2 Beta & R are calculated for the period July 1, 2010 - June 30, 2011. Beta measures the degree to which any portfolio of stocks is affected as compared to the 2

effect on the market as a whole. The coefficient of determination (R ) measures the strength of relationship between two variables the return on a security versus that of the market.

Volatility is the standard deviation of the daily returns for the period July 1, 2010 - June 30, 2011. Impact cost is calculated as the difference between actual buy price and ideal buy price, divided by ideal buy price, multiplied by 100. Hence ideal price is calculated as (best buy + best sell)/2. It is calculated for a month for the portfolio size of Rs. 5 lakh. It is calculated for the period July 1, 2010 - June 30, 2011.


(Percent)

Table 15: Volatility* of Major Indices

563

Month/Year BSE Sensex BSE 100 Index BSE 500S&P CNX

NiftyCNX Nifty

JuniorS&P CNX 500

1 2 3 4 5 6 7

2007-08 1.9 2.0 2.0 2.0 2.4 2.0

2008-09 2.8 2.7 2.6 2.7 2.8 2.5

2009-10 1.9 1.8 1.8 1.9 2.0 1.8

2010-11 1.1 1.1 1.1 1.1 1.1 1.0

2011-12$ 1.0 1.0 1.0 1.0 0.9 1.0

Apr-11 1.1 1.0 1.0 1.0 0.9 0.9

May-11 1.1 1.1 1.0 1.1 1.1 1.1

Jun-11 1.0 0.9 0.9 1.0 0.9 0.9

* Volatility is calculated as the standard deviation of the natural log of daily returns in indices for the respective period.




(Percentage Share in Turnover)

Table 16: City-wise Distribution of Turnover on Cash Segments of BSE and NSE

564

2008-09 2009-10 2010-11 May-11 2008-09 2009-10 2010-11 May-11

1 2 3 4 5 6 7 8 9 10

1 Ahmedabad 7.3 9.9 9.4 9.8 5.3 5.6 6.2 5.9

2 Bangalore 0.3 0.4 0.4 0.3 0.6 0.6 0.6 0.5

3 Baroda 2.4 2.1 2.1 2.0 0.7 0.6 0.5 0.5

4 Bhubaneshwar 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

5 Chennai 0.4 0.3 0.4 0.4 2.0 1.6 1.6 7.8

6 Cochin 0.0 0.0 0.0 0.0 0.8 1.7 1.7 1.4

7 Coimbatore 0.1 0.0 0.0 0.1 0.3 0.3 0.3 1.7

8 Delhi 11.4 12.8 12.8 11.5 15.0 12.9 10.8 0.3

9 Guwahati 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.7

10 Hyderabad 0.5 0.5 0.5 0.4 1.7 1.8 1.6 0.0

11 Indore 0.5 0.5 0.6 0.5 0.5 0.6 0.6 1.6

12 Jaipur 1.1 1.1 1.0 0.9 0.6 0.5 0.5 0.4

13 Kanpur 0.4 0.6 0.7 0.7 0.1 0.1 0.1 0.4

14 Kolkata 1.7 1.6 2.0 2.9 9.2 7.0 7.5 0.2

15 Ludhiana 0.2 0.3 0.2 0.2 0.2 0.1 0.1 0.1

16 Mangalore 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

17 Mumbai 38.6 36.0 36.3 37.4 55.9 57.5 58.6 61.4

18 Patna 0.1 0.1 0.1 0.1 0.0 0.0 0.2 0.0

19 Pune 0.6 0.7 0.7 0.6 0.2 0.2 0.0 0.2

20 Rajkot 4.8 5.1 4.8 4.4 1.3 1.4 1.6 1.5

21 Others 29.7 27.9 28.0 27.7 5.7 7.4 7.5 7.3

Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0


Sl. NoBSE NSE

City


Table 17: Advances/Declines in Cash Segment of BSE and NSE

565

Advances Declines Advance / Decline Ratio

Advances Declines Advance / Decline Ratio

1 2 3 4 5 6 7

Jul-10 2,343 863 2.7 1,129 258 4.4

Aug-10 1,838 1,391 1.3 802 593 1.4

Sep-10 1,918 1,314 1.5 937 478 2.0

Oct-10 1,778 1,452 1.2 846 574 1.5

Nov-10 1,252 2,018 0.6 483 962 0.5

Dec-10 442 2,836 0.2 143 1,304 0.1

Jan-11 946 2,323 0.4 347 1,115 0.3

Feb-11 420 2,844 0.1 96 1,371 0.1

Mar-11 1,168 2,097 0.6 547 927 0.6

Apr-11 2,671 613 4.4 1,355 129 10.5

May-11 811 2,475 0.3 242 1,245 0.2

Jun-11 1,313 1,975 0.7 550 946 0.6


Month/Date

BSE NSE

Note: Advance/Decline is calculated based on the average price methodology.


Table 18: Trading Frequency in Cash Segment of BSE and NSE

566

1 2 3 4 5 6 7

Jul-10 4,990 3,029 60.7 1,392 1,373 98.6

Aug-10 4,996 3,010 60.2 1,408 1,389 98.7

Sep-10 4,997 3,055 61.1 1,412 1,395 98.8

Oct-10 5,019 3,076 61.3 1,435 1,415 98.6

Nov-10 5,022 2,992 59.6 1,440 1,419 98.5

Dec-10 5,034 3,048 60.5 1,456 1,432 98.4

Jan-11 5,047 2,984 59.1 1,462 1,440 98.5

Feb-11 5,054 2,913 57.6 1,470 1,444 98.2

Mar-11 5,067 2,933 57.9 1,484 1,450 97.7

Apr-11 5,069 2,977 58.7 1,488 1,453 97.6

May-11 5,078 2,924 57.6 1,495 1,463 97.9

Jun-11 5,085 2,968 58.4 1,509 1,474 97.7


No. of companies

Traded

Percent of Traded to Listed

Month/ Year

BSE NSE

No. of Companies

Listed

No. of companies

Traded

Percent of Traded to Listed

No. of Companies

Listed


(Percent)

Table 19: Percentage Share of Top 'N' Securities/Members

567

Month/Year

Top 5 10 25 50 100 5 10 25 50 100

1 2 3 4 5 6 7 8 9 10 11

2008-09 18.5 29.6 49.0 66.0 79.6 20.5 32.6 56.4 74.7 87.7

2009-10 15.3 22.2 35.3 47.8 62.4 13.7 23.0 41.0 58.5 74.4

2010-11 10.2 15.1 25.9 37.3 51.5 15.3 23.0 38.7 53.6 68.9

2011-12$ 13.9 23.2 37.4 51.1 66.2 15.6 25.3 43.5 59.2 75.7

Apr-11 22.5 27.9 39.9 52.2 67.0 17.4 25.6 42.5 57.6 73.2

May-11 14.1 22.0 35.9 50.9 66.3 18.3 27.6 45.0 60.8 76.9

Jun-11 13.9 23.2 37.4 51.1 66.2 15.6 25.3 43.5 59.2 75.7

2008-09 14.3 21.7 38.2 55.8 73.3 13.6 23.6 43.6 61.2 75.4

2009-10 13.3 21.1 37.3 53.3 71.5 14.9 24.0 41.8 57.8 72.6

2010-11 13.3 21.6 36.6 51.9 70.2 14.3 23.8 42.9 58.6 73.0

2011-12$ 16.0 24.4 40.5 55.7 72.7 14.2 24.9 45.2 61.2 76.1

Apr-11 25.5 33.7 47.0 60.2 75.3 14.6 24.5 44.8 60.9 75.7

May-11 15.3 24.0 39.0 54.8 72.4 13.7 24.8 45.9 61.5 76.5

Jun-11 16.0 24.4 40.5 55.7 72.7 14.2 24.9 45.2 61.2 76.1


Securities

Members


BSE NSE


568

Deli

vere

d Va

lue i

n D

emat

M

ode

(` cr

ore)

Perc

ent o

f D

emat

D

elive

red

Valu

e to

Tota

l D

elive

red

Valu

e

Shor

t D

elive

ry

(Auc

tione

d qu

antit

y)

(Lak

h)

Perc

ent o

f Sh

ort

Deli

very

to

D

elive

ry

Qua

ntity

Unr

ectif

ied

Bad

Deli

very

(A

uctio

ned

quan

tity)

(L

akh)

Perc

ent o

f U

nrec

tifie

d Ba

d D

elive

ry to

D

elive

ry

Qua

ntity

Fund

s Pa

y-in

(`

cror

e)

Secu

ritie

s

Pay-

in (`

cr

ore)

Settl

emen

t Gu

aran

tee

(` cr

ore)

1112

1314

1516

1718

19

2,30,1

7399

.974

00.4

0.10.0

84,84

12,3

0,332

3,624

3,11,3

5210

0.01,7

690.5

0.00.0

99,10

23,1

1,364

4,398

3,02,0

8210

0.01,3

230.4

0.00.0

88,07

23,0

2,126

4,138

49,76

210

0.025

90.4

0.00.0

18,40

049

,763

3,963

17,95

210

0.083

0.40.0

0.07,3

6417

,952

4,082

15,82

810

0.088

0.40.0

0.05,2

6415

,828

3,989

15,98

210

0.087

0.40.0

0.05,7

7215

,983

3,963

Tab

le 2

0: S

ettl

emen

t S

tati

stic

s fo

r C

ash

Seg

men

t o

f B

SE

Mon

th/

Year

No.

of

Trad

es

(L

akh)

Trad

ed

Qua

ntity

(L

akh)

Deli

vere

d Q

uant

ity

(Lak

h)

Perc

ent o

f D

elive

red

Qua

ntity

to

Tra

ded

Qua

ntity

Turn

over

(` cr

ore)

Deli

vere

d Va

lue

(` cr

ore)

Perc

ent

of

Deli

vere

d Va

lue t

o To

tal

Turn

over

Deli

vere

d Q

uant

ity in

D

emat

M

ode

(Lak

h)

Perc

ent o

f D

emat

D

elive

red

Qua

ntity

to

Tota

l D

elive

red

Qua

ntity

12

34

56

78

910

2008

-09

5,408

7,39,6

011,9

6,630

26.6

11,00

,074

2,30,3

3220

.91,9

6,096

99.7

2009

-10

6,056

11,36

,513

3,63,5

7832

.013

,78,80

93,1

1,364

22.6

3,63,5

0010

0.0

2010

-115,2

859,9

0,776

3,76,8

9038

.011

,05,02

73,0

2,126

27.3

3,74,2

7799

.3

2011

-12$

998

1,73,2

2965

,019

37.5

1,88,1

6849

,763

26.4

65,01

810

0.0

Apr-1

132

762

,262

21,92

535

.269

,336

17,95

225

.921

,924

100.0

May

-11

336

53,87

421

,466

39.8

59,49

415

,828

26.6

21,46

510

0.0

Jun-

1133

557

,093

21,62

937

.959

,337

15,98

326

.921

,628

100.0

Sour

ce: B

SE.

$ ind

icat

es as

on

June

30, 2

011.


569

Deli

vere

d Va

lue i

n D

emat

M

ode

(` cr

ore)

Perc

ent o

f D

emat

D

elive

red

Valu

e to

Tota

l D

elive

red

Valu

e

Shor

t D

elive

ry

(Auc

tione

d qu

antit

y)

(Lak

h)

Perc

ent o

f Sh

ort

Deli

very

to

D

elive

ry

Unre

ctifi

ed

Bad

Deli

very

(A

uctio

ned

quan

tity)

(L

akh)

Perc

ent o

f Un

rect

ified

Ba

d D

elive

ry to

D

elive

ry

Fund

s Pa

y-in

(` cr

ore)

Secu

rities

Pa

y-in

(` cr

ore)

Settl

emen

t Gu

aran

tee

(` cr

ore)

1112

1314

1516

1718

19

6,10,4

9810

0.062

50.2

0.00.0

2,20,7

046,1

0,498

4,844

9,16,4

6010

0.086

20.2

0.00.0

2,78,3

879,1

6,460

5,547

9,78,0

1510

0.090

30.2

0.00.0

2,93,3

579,7

9,269

5,100

1,96,9

6510

0.026

50.3

0.00.0

59,39

21,9

7,272

4,900

65,79

010

0.010

90.3

0.00.0

20,35

865

,874

5,186

68,67

110

0.011

30.3

--

20,52

668

,823

4,946

62,50

410

0.043

0.1-

-18

,508

62,57

54,9

00

Tab

le 2

1: S

ettl

emen

t St

atis

tics

fo

r C

ash

Seg

men

t o

f N

SE

Perc

ent o

f D

elive

red

Qua

ntity

to

Trad

ed

Qua

ntity

Turn

over

(` cr

ore)

Deli

vere

d Va

lue

(` cr

ore)

Perc

ent

of

Deli

vere

d Va

lue t

o To

tal

Turn

over

Deli

vere

d Q

uant

ity in

D

emat

M

ode

(Lak

h)

Perc

ent

of D

emat

D

elive

red

Qua

ntity

to

Tot

al D

elive

red

Qua

ntity

56

78

910

21.4

27,49

,450

6,10,4

9822

.23,0

3,299

100.0

21.5

41,29

,214

9,16,4

6022

.24,7

3,952

100.0

27.5

35,65

,195

9,78,0

1527

.44,9

7,367

100.0

28.8

6,88,0

531,9

6,965

28.6

1,05,8

9610

0.0

29.5

2,30,4

6465

,790

28.5

38,19

410

0.0

29.4

2,37,4

1068

,671

28.9

34,84

510

0.0

27.5

2,20,1

7962

,504

28.4

32,85

610

0.0

Mon

th/

Year

No.

of

Trad

es

(L

akh)

Trad

ed

Qua

ntity

(L

akh)

Deli

vere

d Q

uant

ity

(Lak

h)

12

34

2008

-09

13,63

914

,18,92

83,0

3,299

2009

-1016

,788

22,05

,878

4,73,9

52

2010

-1115

,480

18,10

,910

4,97,3

67

2011

-12$

3,386

3,67,6

001,0

5,896

Apr-1

11,0

721,2

9,530

38,19

4

May

-11

1,158

1,18,6

7834

,845

Jun-

111,1

561,1

9,392

32,85

6

Sour

ce: N

SE.

$ ind

icate

s as

on Ju

ne 30

, 201

1.


570

Tab

le 2

2: E

qu

ity

Der

ivat

ives

Seg

men

t at

BS

E

No.

of

Cont

ract

s

Turn

over

(` cr

ore)

No.

of

Cont

ract

s

Turn

over

(` cr

ore)

No.

of

Cont

ract

s

Turn

over

( cr

ore)

5 6

7 8

9 10

299

925

16

122

3

60

5,27

613

80

0

00

00

100

843

3,34

899

00

823

3,348

990

0

00

00

00

20

00

00

Not

iona

l Tur

nove

r = (S

trike

Pric

e + P

rem

ium

) * Q

uant

ity.

Stoc

k Fu

ture

sCa

llPu

t

Inde

x O

ptio

ns

No.

of

Cont

ract

s

Turn

over

( cr

ore)

No.

of

Cont

ract

s

Turn

over

( cr

ore)

No.

of

Cont

ract

s

Turn

over

( ` cr

ore)

No.

of

Cont

ract

s

Valu

e

( ` cr

ore)

11

1213

14

15

1617

18

00

00

4,96

,502

11,7

7522

0

00

00

9,02

623

40

0

00

00

5,62

315

44

0

12,0

8637

60

016

,397

502

381

1,142

360

04,9

2514

81

0

9,015

282

00

9,054

283

10

1,929

580

02,4

1872

381

Stoc

k O

ptio

nsTo

tal

Ope

n In

tere

st

at th

e end

of

Call

Put

No.

of

Cont

ract

s

Turn

over

( ` cr

ore)

1 2

3 4

2008

-09

243

4,95

,830

11,7

57

2009

-10

244

3,74

496

2010

-11

254

5,61

315

4

2011

-12$

6287

925

Apr-1

118

353

10

May

-11

2239

1

Jun-

1122

487

13

Sour

ce: B

SE.

$ ind

icat

es a

s on

June

30, 2

011.

Mon

th/

Year

No.

of

Trad

ing

Day

s

Inde

x Fu

ture

s


571

No.

of

Cont

ract

s Tu

rnov

er

( cr

ore)

No.

of

Cont

ract

s Tu

rnov

er

( cr

ore)

No.

of

Cont

ract

s Tu

rnov

er

( cr

ore)

No.

of

Cont

ract

s Va

lue

( cr

ore)

11

1213

14

15

1617

18

97,62

,968

1,71,8

4335

,33,00

257

,384

65,73

,90,49

71,1

0,10,4

8232

,27,75

957

,705

1,06,1

4,147

3,89,1

5834

,02,12

31,1

6,907

67,92

,93,92

21,7

6,63,6

6534

,89,79

097

,978

2,42,7

3,560

7,77,1

0982

,34,83

32,5

3,235

103,4

2,12,0

622,9

2,48,2

2136

,90,37

31,0

1,816

54,93

,812

1,50,4

0621

,11,02

955

,093

26,83

,26,17

873

,94,61

532

,77,32

491

,467

17,55

,056

52,78

56,0

1,461

17,17

38,1

5,40,0

1423

,51,30

040

,07,51

61,0

9,326

18,73

,595

50,10

17,7

0,401

19,70

79,6

0,41,8

2526

,05,13

842

,40,22

21,1

2,112

18,65

,161

47,52

07,3

9,167

18,21

49,0

7,44,3

3924

,38,17

732

,77,32

491

,467

Stoc

k O

ptio

nsTo

tal

Ope

n In

tere

st at

the e

nd o

fCa

llPu

t

Tab

le 2

3: E

qu

ity

Der

ivat

ives

Seg

men

t at

NS

E

No.

of

Cont

ract

s Tu

rnov

er

( cr

ore)

No.

of

Cont

ract

s Tu

rnov

er

( cr

ore)

No.

of

Cont

ract

s Tu

rnov

er

(` cr

ore)

No.

of

Cont

ract

s Tu

rnov

er

( cr

ore)

1 2

3 4

5 6

7 8

9 10

2008

-09

243

21,04

,28,10

335

,70,11

122

,15,77

,980

34,79

,642

11,04

,31,97

420

,02,54

410

,16,56

,470

17,28

,957

2009

-1024

417

,83,06

,889

39,34

,389

14,55

,91,24

051

,95,24

716

,76,83

,928

40,49

,266

17,36

,95,59

539

,78,69

9

2010

-1125

416

,50,23

,653

43,56

,755

18,60

,41,45

954

,95,75

731

,45,33

,244

90,90

,702

33,61

,05,31

392

,74,66

4

2011

-12$

623,2

4,73,6

128,5

3,225

3,93,4

8,511

10,12

,543

9,76,2

3,142

27,99

,680

9,12,7

6,072

25,23

,667

Apr-1

118

1,02,7

1,439

2,82,3

031,2

8,80,7

053,5

3,159

2,82,1

2,015

8,43,8

352,7

8,19,3

388,0

2,046

May

-11

221,1

8,88,8

383,0

5,745

1,34,7

4,455

3,36,6

893,6

2,80,3

7410

,27,31

33,1

7,54,1

628,6

5,584

Jun-

1122

1,03,1

3,335

2,65,1

781,2

9,93,3

513,2

2,695

3,31,3

0,753

9,28,5

333,1

7,02,5

728,5

6,038

Not

iona

l Tur

nove

r = (S

trike

Pric

e + P

rem

ium

) * Q

uant

ity.

Sour

ce: N

SE.

$ ind

icat

es as

on

June

30, 2

011.

Mon

th/

Year

No.

of

Trad

ing

Day

s

Inde

x Fut

ures

Stoc

k Fu

ture

sIn

dex O

ptio

ns

Call

Put


572

Tab

le 2

4: E

qu

ity

Der

ivat

ives

Tra

din

g a

t N

SE

du

rin

g J

un

e 20

11

12

3 4

5 6

7 8

9

1-Ju

n-11

3,69

,089

9,57

14,

85,9

9212

,328

8,53

,993

24,5

0510

,37,

022

28,0

59

2-Ju

n-11

3,18

,187

8,17

25,

32,2

9712

,747

7,39

,367

21,1

5910

,27,

112

27,7

04

3-Ju

n-11

4,39

,599

11,2

264,

98,8

7512

,182

11,6

8,01

433

,415

12,7

1,60

434

,740

6-Ju

n-11

3,36

,094

8,52

23,

73,4

919,

165

10,1

8,38

328

,963

9,30

,664

25,3

31

7-Ju

n-11

2,99

,831

7,68

23,

89,3

189,

581

8,61

,831

24,6

058,

47,9

2123

,110

8-Ju

n-11

3,32

,610

8,55

34,

27,6

5310

,641

8,81

,725

25,1

438,

14,0

3322

,205

9-Ju

n-11

3,68

,984

9,46

73,

75,8

939,

437

9,50

,829

26,9

938,

82,8

8524

,054

10-J

un-1

14,

55,9

7711

,649

4,10

,902

10,3

2712

,75,

363

36,0

8210

,69,

765

29,1

77

13-J

un-1

13,

87,2

449,

831

3,70

,830

9,35

511

,28,

949

31,8

2810

,68,

715

29,0

22

14-J

un-1

13,

36,8

698,

703

4,23

,505

11,1

299,

56,8

1527

,075

8,58

,872

23,3

95

15-J

un-1

13,

79,6

839,

680

4,18

,063

10,6

1811

,55,

751

32,5

6010

,32,

623

28,0

44

16-J

un-1

15,

47,9

7413

,893

5,13

,114

12,8

8117

,85,

179

49,9

3215

,85,

797

42,6

57

17-J

un-1

13,

52,6

368,

915

4,56

,627

11,6

7215

,42,

872

42,9

5812

,41,

777

33,3

08

20-J

un-1

17,

56,3

6518

,975

7,26

,198

16,2

2925

,72,

077

70,5

6722

,93,

060

60,6

03

21-J

un-1

14,

94,0

0312

,283

6,05

,620

14,0

3317

,45,

819

47,7

5214

,26,

041

37,5

83

22-J

un-1

13,

87,6

869,

712

4,94

,146

12,1

3115

,28,

873

41,6

6912

,24,

020

32,2

29

23-J

un-1

14,

09,8

6810

,203

6,16

,855

13,8

5716

,57,

551

45,1

2915

,99,

490

42,1

92

24-J

un-1

17,

96,1

7020

,442

8,16

,721

20,1

5429

,06,

566

80,4

7427

,07,

131

72,2

26

27-J

un-1

15,

96,2

7215

,638

8,56

,711

21,6

9822

,31,

926

62,8

5722

,01,

502

59,6

52

28-J

un-1

16,

54,4

6317

,345

9,79

,060

24,6

9218

,99,

527

53,4

4320

,47,

711

55,7

84

29-J

un-1

15,

96,4

8015

,934

10,5

8,27

727

,392

20,2

4,88

057

,454

22,2

7,51

061

,113

30-J

un-1

16,

97,2

5118

,781

11,6

3,20

330

,448

22,4

4,46

363

,973

23,0

7,31

763

,851

Not

ion

al T

urn

over

= (

Stri

ke P

rice

+ P

rem

ium

) *

Qu

anti

ty.

Sou

rce:

NSE

.

No.

of

Con

trac

tsT

urn

over

( c

rore

)

No.

of

Con

trac

tsT

urn

over

( c

rore

)

Dat

eIn

dex

Fu

ture

s S

tock

Fu

ture

sIn

dex

Op

tion

s

C

alls

P

uts

No.

of

Con

trac

ts

Tu

rnov

er

( c

rore

)

No.

of

Con

trac

ts T

urn

over

( c

rore

)

1011

12

13

1415

16

17

74,0

701,

902

23,9

5857

928

,44,

124

76,9

4543

,58,

505

1,16

,021

85,1

772,

113

32,6

6774

827

,34,

807

72,6

4345

,01,

109

1,18

,854

89,0

682,

236

39,5

5990

635

,06,

719

94,7

0445

,85,

345

1,20

,366

58,9

361,

483

24,3

3556

427

,41,

903

74,0

2846

,78,

354

1,23

,094

63,4

351,

618

22,3

9353

624

,84,

729

67,1

3247

,71,

900

1,26

,245

65,4

871,

647

21,3

4351

825

,42,

851

68,7

0748

,10,

477

1,26

,605

59,2

661,

531

23,2

0257

726

,61,

059

72,0

6048

,55,

977

1,27

,645

63,4

001,

641

23,2

1257

932

,98,

619

89,4

5448

,54,

176

1,26

,780

64,7

661,

652

22,6

0355

630

,43,

107

82,2

4449

,43,

012

1,29

,224

78,9

872,

003

26,0

7364

526

,81,

121

72,9

4949

,94,

741

1,30

,978

85,3

512,

174

32,5

7181

031

,04,

042

83,8

8650

,42,

542

1,30

,857

1,00

,522

2,55

343

,147

1,07

445

,75,

733

1,22

,990

51,9

3,86

31,

33,6

27

91,9

542,

403

36,3

0191

837

,22,

167

1,00

,173

53,2

6,23

31,

36,3

15

1,09

,708

2,67

049

,647

1,18

865

,07,

055

1,70

,232

53,6

5,80

31,

34,2

54

98,2

772,

373

43,3

601,

037

44,1

3,12

01,

15,0

6054

,03,

860

1,35

,613

73,3

861,

845

33,1

8484

137

,41,

295

98,4

2755

,23,

611

1,38

,622

90,0

132,

088

36,6

0682

744

,10,

383

1,14

,296

55,5

7,81

41,

40,6

85

1,26

,724

3,30

850

,080

1,25

874

,03,

392

1,97

,863

55,8

3,48

51,

46,0

15

94,4

002,

525

38,0

5299

060

,18,

863

1,63

,360

56,8

5,38

81,

51,0

28

74,8

501,

908

32,2

1682

756

,87,

827

1,53

,998

57,7

5,88

61,

55,0

07

96,3

122,

550

36,5

1294

360

,39,

971

1,65

,386

59,5

4,66

21,

62,6

49

1,21

,072

3,29

748

,146

1,29

565

,81,

452

1,81

,644

32,7

7,32

491

,467

Tu

rnov

er

( c

rore

)

No.

of

con

trac

tsV

alu

e (`

cro

re)

No.

of

Con

trac

tsT

urn

over

( c

rore

)

No.

of

C

ontr

acts

Tu

rnov

er

( c

rore

)

No.

of

C

ontr

acts

Stoc

k O

pti

ons

Tot

al T

urn

over

Op

en I

nte

rest

at

the

end

of

the

day

C

alls

P

uts


573

Tab

le 2

5: S

ettl

emen

t S

tati

stic

s in

Eq

uit

y D

eriv

ativ

es S

egm

ent

at B

SE

an

d N

SE

(` c

rore

)

MT

M

Set

tlem

ent

Fin

al

Set

tlem

ent

Pre

miu

m

Set

tlem

ent

Exe

rcis

e S

ettl

emen

tM

TM

S

ettl

emen

tF

inal

S

ettl

emen

tP

rem

ium

S

ettl

emen

tE

xerc

ise

Set

tlem

ent

1 2

3 4

5 6

7 8

9 10

11

12

13

2008

-09

110

30

011

381

75,1

941,

498

10,9

604,

188

91,8

4023

,656

2009

-10

00

00

072

60,6

561,

395

11,0

113,

881

76,9

4331

,572

2010

-11

10

00

171

67,2

881,

591

12,7

032,

119

83,7

0129

,759

2011

-12$

00

10

167

12,8

2429

92,

815

282

16,2

2029

,223

Ap

r-11

00

00

170

3,50

410

487

356

4,53

629

,601

May

-11

00

00

069

5,45

012

693

277

6,58

528

,534

Jun

-11

00

00

067

3,87

070

1,01

014

95,

099

29,2

23

Mo

nth

/

Yea

rB

SE

NS

E

So

urc

e: B

SE

an

d N

SE

.

Ind

ex/

Sto

ck O

pti

on

s

To

tal

Set

tlem

ent

Gu

ran

tee

Fu

nd

Ind

ex/

Sto

ck F

utu

res

Ind

ex/

Sto

ck O

pti

on

s

To

tal

Set

tlem

ent

Gu

ran

tee

Fu

nd

Ind

ex/

Sto

ck F

utu

res

$ in

dic

ates

as

on

Ju

ne

30,

2011

.


Table 26: Trading in the Corporate Debt Market

574

No. of Trades Traded Value

( crore)


( crore)


( crore)

1 2 3 4 5 6 7

2008-09 8,327 37,320 4,902 49,505 9,501 61,535

2009-10 7,408 53,323 12,522 1,51,920 18,300 1,95,955

2010-11 4,465 39,581 8,006 1,55,951 31,589 4,09,742

2011-12$ 1,431 10,318 1,588 36,050 7,588 73,366

Apr-11 339 3,060 499 11,886 2,327 22,968

May-11 378 2,613 370 8,205 2,264 19,629

Jun-11 714 4,645 719 15,960 2,997 30,769

Source: BSE, NSE and FIMMDA.


Month/Year BSE NSE FIMMDA


575

Tab

le 2

7A :

Tra

din

g S

tati

stic

s o

f C

urr

ency

Der

ivat

ives

Seg

men

t at

NS

E

No

. o

f

Co

ntr

acts

Tu

rno

ver

( c

rore

)

No

. o

f

Co

ntr

acts

Tu

rno

ver

( c

rore

)

No

. o

f

Co

ntr

acts

Tra

ded

Val

ue

( c

rore

)

34

56

78

910

1112

139

3,27

,38,

566

1,62

,563

3,27

,38,

566

1,62

,563

2,57

,554

1,31

3

240

37,8

6,06

,983

17,8

2,60

8-

--

-37

,86,

06,9

8317

,82,

608

4,27

,873

1,96

4

249

71,2

1,81

,928

32,7

9,00

22,

32,9

7,30

61,

06,5

061,

41,2

2,84

164

,280

74,9

6,02

,075

34,4

9,78

830

,20,

562

13,6

90

5919

,91,

31,1

599,

10,8

474,

24,2

8,89

41,

92,0

902,

68,5

8,62

01,

20,9

0926

,84,

18,6

7312

,23,

846

42,9

8,64

719

,505

165,

55,6

4,07

22,

51,1

591,

39,9

7,22

462

,850

76,9

2,25

034

,458

7,72

,53,

546

3,48

,467

32,4

3,55

014

,673

217,

18,7

4,85

43,

29,7

921,

28,3

7,81

158

,427

98,3

0,04

744

,283

9,45

,42,

712

4,32

,502

33,7

4,67

615

,437

227,

16,9

2,23

33,

29,8

961,

55,9

3,85

970

,813

93,3

6,32

342

,169

9,66

,22,

415

4,42

,877

42,9

8,64

719

,505

Tra

din

g V

alu

e :-

Fo

r F

utu

res,

Val

ue

of

con

trac

t =

Tra

ded

Qty

*Tra

ded

Pri

ce.

Fo

r O

pti

on

s, V

alu

e o

f co

ntr

act

= T

rad

ed Q

ty*(

Str

ike

Pri

ce+

Tra

ded

Pre

miu

m)

$ in

dic

ates

as

on

Ju

ne

30,

2011

.

No

te:

Cu

rren

cy F

utu

res

trad

ing

sta

tred

at

NS

E o

n A

ug

ust

29,

200

8. C

urr

ency

Op

tio

ns

wer

e in

tro

du

cded

at

NS

E w

.e.f

Oct

ob

er 2

9, 2

010.

No

. o

f C

on

trac

ts

No

. o

f T

rad

ing

D

ays

No

. o

f C

on

trac

ts

Cu

rren

cy F

utu

res

Cu

rren

cy O

pti

on

sT

ota

l

Pu

t

Tu

rno

ver

(` c

rore

)

Op

en I

nte

rest

at

th

e en

d o

fT

urn

ove

r

(` c

rore

)

Cal

l

12

2008

-09

2009

-10

2010

-11$

2011

-12

Ap

r-11

May

-11

Jun

-11

So

urc

e: N

SE

.

Mo

nth

/

Yea

r


576

Tab

le 2

7B :

Tra

din

g S

tati

stic

s o

f C

urr

ency

Der

ivat

ives

Seg

men

t a

t M

CX

_S

X

No

. o

f C

on

trac

ts

Tu

rno

ver

( c

rore

)N

o.

of

Co

ntr

acts

Tu

rno

ver

( c

rore

)N

o.

of

Co

ntr

acts

Tu

rno

ver

( c

rore

)N

o.

of

Co

ntr

acts

Tu

rno

ver

( c

rore

)N

o.

of

Co

ntr

acts

Val

ue

( c

rore

)

1 2

3 4

56

7 8

9 10

11

12

2009

-10

240

40,8

1,66

,278

19,4

4,65

440

,81,

66,2

7819

,44,

654

4,23

,314

1,95

0.70

2010

-11

249

90,3

1,85

,639

41,9

4,01

790

,31,

85,6

3941

,94,

017

7,94

,788

3,70

6.20

2011

-12$

5921

6,42

5,52

799

5,32

1N

/A

N/

AN

/A

N/

A21

6,42

5,52

799

5,32

110

,61,

923

5,07

4.76

Ap

r-11

165,

96,2

0,09

32,

70,3

815,

96,2

0,09

32,

70,3

818,

11,7

773,

843.

66

May

-11

217,

76,1

1,60

63,

57,4

847,

76,1

1,60

63,

57,4

847,

20,8

283,

519.

26

Jun

-11

227,

91,9

3,82

83,

67,4

567,

91,9

3,82

83,

67,4

5610

,61,

923

5,07

4.76

$ in

dic

ates

as

on

Ju

ne

30,

2011

.

NA

: N

ot

Ap

pli

cab

le.

So

urc

e: M

CX

_SX

.

Mo

nth

/

Yea

r

No

. o

f T

rad

ing

Day

s

Cu

rren

cy F

utu

res

Cu

rren

cy O

pti

on

sT

ota

lO

pen

In

tere

st

at t

he

end

of

Cal

lP

ut


577

Tab

le 2

7C :

Tra

din

g S

tati

stic

s o

f C

urr

ency

Der

ivat

ives

Seg

men

t a

t U

SE

No

. o

f C

on

trac

ts

Tu

rno

ver

( c

rore

)

No

. o

f C

on

trac

ts

Tu

rno

ver

( c

rore

)

No

. o

f C

on

trac

ts

Tu

rno

ver

( c

rore

)

No

. o

f C

on

trac

ts

Tu

rno

ver

( c

rore

)

No

. o

f C

on

trac

ts

Val

ue

( c

rore

)

1 2

3 4

56

7 8

9 10

11

12

2011

-12$

5911

,23,

83,7

035,

19,9

2429

,88,

532

13,5

0820

,43,

093

9,18

411

,74,

15,3

285,

42,6

161,

96,8

6588

6

Ap

r-11

162,

17,2

1,80

199

,691

6,11

,531

2,73

12,

25,3

991,

005

2,25

,58,

731

1,03

,427

48,1

7221

9

May

-11

214,

15,0

2,46

81,

94,3

5418

,21,

489

8,25

617

,56,

668

7,90

24,

50,8

0,62

52,

10,5

1254

,896

251

Jun

-11

224,

91,5

9,43

42,

25,8

795,

55,5

122,

521

61,0

2627

74,

97,7

5,97

22,

28,6

771,

96,8

6588

6

$ in

dic

ates

as

on

Ju

ne

30,

2011

.

So

urc

e: U

SE

.

Mo

nth

/ Y

ear

No

. o

f T

rad

ing

D

ays

Cu

rren

cy F

utu

res

Cu

rren

cy O

pti

on

sT

ota

lO

pen

In

tere

st

at t

he

end

of

Cal

lP

ut


578

Tab

le 2

8A:

Dai

ly T

ren

ds

of

Cu

rren

cy D

eriv

ativ

es T

rad

ing

at

NS

E d

uri

ng

Ju

ne

2011

12

34

56

78

910

11

01-J

un-1

141

,69,

521

19,0

428,

11,3

353,

701

4,43

,620

2,00

554

,24,

476

24,7

4937

,21,

403

16,9

41

02-J

un-1

131

,78,

828

14,6

274,

70,4

792,

142

2,16

,606

983

38,6

5,91

317

,752

38,0

0,48

017

,301

03-J

un-1

132

,44,

751

14,8

654,

59,3

832,

093

3,03

,815

1,37

040

,07,

949

18,3

2941

,09,

847

18,7

08

06-J

un-1

132

,46,

659

14,8

506,

70,1

473,

040

4,29

,982

1,94

643

,46,

788

19,8

3643

,30,

703

19,6

73

07-J

un-1

131

,32,

121

14,3

056,

60,8

132,

998

5,28

,676

2,40

243

,21,

610

19,7

0445

,15,

065

20,4

87

08-J

un-1

134

,27,

935

15,5

849,

61,2

364,

362

5,28

,941

2,38

749

,18,

112

22,3

3347

,37,

986

21,4

63

09-J

un-1

128

,35,

307

12,9

725,

22,2

432,

372

1,93

,769

874

35,5

1,31

916

,218

48,7

9,72

522

,127

10-J

un-1

124

,22,

330

11,3

024,

18,1

201,

894

2,01

,493

912

30,4

1,94

314

,108

50,3

8,10

922

,820

13-J

un-1

126

,03,

822

11,9

927,

76,9

323,

521

4,75

,750

2,14

538

,56,

504

17,6

5850

,77,

707

23,0

59

14-J

un-1

128

,38,

394

13,0

096,

49,5

342,

947

3,10

,806

1,40

237

,98,

734

17,3

5950

,30,

042

22,8

00

15-J

un-1

131

,25,

307

14,3

857,

97,4

523,

606

3,12

,520

1,40

942

,35,

279

19,4

0050

,90,

955

23,0

32

16-J

un-1

135

,11,

782

16,2

587,

10,8

563,

223

3,80

,603

1,71

546

,03,

241

21,1

9752

,19,

382

23,6

82

17-J

un-1

135

,05,

129

16,0

758,

49,6

623,

853

4,53

,214

2,04

048

,08,

005

21,9

6854

,39,

945

24,6

78

20-J

un-1

137

,02,

084

16,9

636,

34,4

862,

883

3,69

,767

1,66

847

,06,

337

21,5

1354

,58,

851

24,8

04

21-J

un-1

128

,85,

312

13,3

405,

31,9

442,

412

1,89

,413

855

36,0

6,66

916

,607

54,1

5,04

524

,562

22-J

un-1

128

,40,

253

13,1

018,

47,9

273,

849

4,40

,166

1,98

441

,28,

346

18,9

3459

,15,

109

26,8

28

23-J

un-1

133

,38,

628

15,3

947,

81,3

383,

544

4,50

,420

2,02

945

,70,

386

20,9

6659

,44,

933

27,0

17

24-J

un-1

135

,94,

820

16,5

487,

33,0

943,

323

5,56

,921

2,51

348

,84,

835

22,3

8560

,78,

958

27,6

35

27-J

un-1

146

,27,

993

21,2

906,

14,7

682,

795

3,91

,127

1,76

556

,33,

888

25,8

5062

,99,

408

28,7

02

28-J

un-1

138

,89,

730

18,1

2410

,64,

474

4,84

512

,41,

301

5,61

661

,95,

505

28,5

8537

,56,

739

17,1

57

29-J

un-1

127

,92,

606

13,0

047,

60,5

633,

466

3,75

,927

1,70

139

,29,

096

18,1

7240

,60,

549

18,4

98

30-J

un-1

127

,78,

921

12,8

658,

67,0

733,

944

5,41

,486

2,44

741

,87,

480

19,2

5642

,98,

647

19,5

05

So

urc

e: N

SE

.

No

. o

f C

on

trac

ts

Tra

ded

Val

ue

(` c

rore

)N

o.

of

Co

ntr

acts

Dat

e

Cu

rren

cy F

utu

res

Cal

lsP

uts

To

tal

Tu

rno

ver

Op

en I

nte

rest

at

th

e en

d o

f

No

. o

f C

on

trac

ts

Tra

ded

Val

ue

(` c

rore

)N

o.

of

Co

ntr

acts

T

rad

ed V

alu

e (`

cro

re)

Tra

ded

Val

ue

( c

rore

)N

o.

of

Co

ntr

acts

Tra

ded

Val

ue

(` c

rore

)

Cu

rren

cy O

pti

on

s


Tab

le 2

8 B

: D

aily

Tre

nd

s o

f C

urr

ency

Der

ivat

ives

Tra

din

g a

t M

CX

_S

X d

uri

ng

Ju

ne

2011

No

. o

f C

on

trac

ts

Tu

rno

ver

(` c

rore

)N

o.

of

Co

ntr

acts

Tu

rno

ver

(` c

rore

)N

o.

of

Co

ntr

acts

Tu

rno

ver

( c

rore

) N

o.

of

C

on

trac

ts

Tu

rno

ver

( c

rore

)N

o.

of

con

trac

tsV

alu

e (

cro

re)

12

3 6

7 8

9 14

15

1617

1-Ju

n-1

138

,57,

126

17,8

13.4

5

38,5

7,12

617

,813

.45

8,04

,722

3,86

1.98

2-Ju

n-1

132

,36,

342

15,0

18.9

0

32,3

6,34

215

,018

.90

8,37

,616

3,99

7.57

3-Ju

n-1

134

,32,

072

15,8

56.8

9

34,3

2,07

215

,856

.89

8,99

,698

4,26

9.03

6-Ju

n-1

131

,75,

139

14,5

67.5

9

31,7

5,13

914

,567

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8,72

,928

4,16

5.90

7-Ju

n-1

131

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164

14,4

78.6

2

31

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164

14,4

78.6

2 9,

40,9

084,

483.

58

8-Ju

n-1

137

,02,

352

16,9

13.6

2

37,0

2,35

216

,913

.62

9,52

,933

4,54

5.32

9-Ju

n-1

130

,35,

289

13,9

17.1

0

30,3

5,28

913

,917

.10

10,0

9,54

44,

807.

04

10-J

un-1

130

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409

14,1

27.2

4

30,2

7,40

914

,127

.24

10,1

9,29

04,

834.

57

13-J

un-1

134

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490

15,8

50.4

2

34,3

3,49

015

,850

.42

10

,06,

205

4,78

3.33

14-J

un-1

133

,25,

674

15,3

12.8

7

33,2

5,67

415

,312

.87

10

,72,

255

5,07

0.72

15-J

un-1

135

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729

16,7

13.4

3

35,8

5,72

916

,713

.43

10

,30,

944

4,87

3.02

16-J

un-1

143

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384

20,1

85.6

2

43,2

7,38

420

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.62

10,8

4,80

65,

172.

45

17

-Jun

-11

41,5

9,05

019

,301

.22

41

,59,

050

19,3

01.2

2 10

,66,

096

5,07

9.45

20-J

un-1

142

,33,

595

19,5

39.0

9

42,3

3,59

519

,539

.09

10,5

7,62

85,

044.

95

21

-Jun

-11

31,2

0,90

814

,609

.36

31

,20,

908

14,6

09.3

6 10

,62,

361

5,05

7.38

22-J

un-1

129

,71,

589

13,8

35.7

6

29,7

1,58

913

,835

.76

11,6

3,79

55,

537.

85

23-J

un-1

139

,33,

139

18,3

20.6

5

39,3

3,13

918

,320

.65

12,0

9,07

65,

754.

10

24-J

un-1

142

,01,

677

19,5

18.5

4

42,0

1,67

719

,518

.54

11,9

8,14

05,

701.

28

27-J

un-1

147

,54,

382

22,0

58.3

8

47,5

4,38

222

,058

.38

13,4

1,95

56,

353.

41

28-J

un-1

1 40

,55,

663

19,1

72.0

6

40,5

5,66

319

,172

.06

15,7

4,56

77,

484.

38

29-J

un-1

130

,94,

331

14,5

36.5

030

,94,

331

14,5

36.5

010

,50,

923

5,02

5.32

30-J

un-1

133

,80,

324

15,8

08.9

133

,80,

324

15,8

08.9

110

,61,

923

5,07

4.76

NA

: N

ot

Ap

pli

cab

le.

So

urc

e: M

CX

_SX

.

N/

A

Dat

e

Cu

rren

cy F

utu

res

Cu

rren

cy O

pti

on

sT

ota

l T

urn

ove

rO

pen

In

tere

st a

t th

e en

d o

f th

e d

ay

Cal

ls

Pu

ts

579


580

Tab

le 2

8 C

: D

aily

Tre

nd

s o

f C

urr

ency

Der

ivat

ives

Tra

din

g a

t U

SE

du

rin

g J

un

e 20

11

12

3 6

7 8

9 14

15

1617

01-J

un-1

118

,14,

450

8,54

01,

38,9

6563

433

,157

151

19,8

6,57

29,

325

59,0

9827

0

02-J

un-1

120

,26,

202

9,41

31,

10,8

3250

423

,680

108

21,6

0,71

410

,025

63,2

8728

9

03-J

un-1

116

,47,

564

7,50

74,

932

2218

51

16,5

2,68

17,

531

63,5

9629

0

06-J

un-1

112

,46,

594

5,66

721

,293

970

012

,67,

887

5,76

462

,381

285

07-J

un-1

114

,75,

235

6,70

416

,278

740

014

,91,

513

6,77

763

,136

289

08-J

un-1

119

,37,

782

8,79

117

,420

790

019

,55,

202

8,87

064

,688

297

09-J

un-1

124

,29,

312

10,9

766,

005

270

024

,35,

317

11,0

0375

,285

345

10-J

un-1

120

,48,

620

9,28

410

,603

480

020

,59,

223

9,33

277

,726

362

13-J

un-1

118

,05,

090

8,23

914

,423

650

018

,19,

513

8,30

492

,630

433

14-J

un-1

126

,82,

784

12,1

8818

,362

830

027

,01,

146

12,2

711,

14,5

7853

0

15-J

un-1

117

,43,

968

7,92

014

,415

650

017

,58,

383

7,98

51,

36,2

6662

7

16-J

un-1

116

,86,

193

7,77

210

,826

490

016

,97,

019

7,82

11,

37,1

8063

0

17-J

un-1

124

,71,

542

11,2

1010

,435

470

024

,81,

977

11,2

571,

43,4

7065

9

20-J

un-1

122

,56,

057

10,3

069,

777

440

022

,65,

834

10,3

501,

75,6

2080

4

21-J

un-1

122

,50,

502

10,2

9912

,788

580

022

,63,

290

10,3

562,

05,9

0293

8

22-J

un-1

122

,09,

430

10,3

3013

,850

620

022

,23,

280

10,3

922,

70,3

221,

224

23-J

un-1

124

,54,

049

11,3

1816

,213

730

024

,70,

262

11,3

912,

77,7

571,

261

24-J

un-1

130

,98,

428

14,2

9015

,436

694

031

,13,

868

14,3

602,

54,4

221,

158

27-J

un-1

133

,13,

798

15,3

0521

,836

990

033

,35,

634

15,4

042,

55,6

091,

165

28-J

un-1

134

,64,

450

16,4

6614

,610

660

034

,79,

060

16,5

323,

14,5

5875

0

29-J

un-1

122

,95,

914

10,5

8130

,602

139

3,00

014

23,2

9,51

610

,733

2,08

,989

943

30-J

un-1

128

,01,

470

12,7

7425

,611

116

1,00

05

28,2

8,08

112

,894

1,96

,865

886

So

urc

e: U

SE

.

Val

ue

(` c

rore

)

Dat

e

Cu

rren

cy F

utu

res

Cu

rren

cy O

pti

on

sT

ota

l T

urn

ove

rO

pen

In

tere

st a

t

the

end

of

the

day

C

alls

Pu

ts

No

. o

f C

on

trac

ts

Tu

rno

ver

( c

rore

)

No

. o

f C

on

trac

tsT

urn

ove

r

( c

rore

)

No

. o

f C

on

trac

tsT

urn

ove

r

( c

rore

)

No

. o

f

Co

ntr

acts

T

urn

ove

r

( c

rore

)

No

. o

f co

ntr

acts


581

Tab

le 2

9: S

ettl

emen

t S

tati

stic

s o

f C

urr

ency

Der

ivat

ives

Seg

men

t

12

34

56

78

910

1112

1314

15

2010

-11

2,41

0.8

90.2

245.

764

.42,

811.

22,

029.

856

.82,

086.

6

2011

-12$

651.

516

.826

3.5

57.9

989.

731

4.3

11.6

325.

946

.21.

80.

50.

3

Apr

-11

186.

78.

587

.323

.530

5.8

96.9

8

5.41

102.

414

.43

0.28

0.0

0.0

May

-11

256.

26.

684

.022

.136

8.8

120.

09

4.31

124.

415

.58

0.79

0.5

0.3

Jun-

1120

8.7

1.7

92.3

12.4

315.

097

.23

1.86

99.1

16.1

6

0.

70

0.0

0.0

NA

: Not

App

licab

le.

$ in

dica

tes

as o

n Ju

ne 3

0, 2

011.

Sour

ce: N

SE, M

CX

_SX

and

USE

.

MT

M

Settl

emen

tFi

nal

Settl

emen

tPr

emiu

m

Settl

emen

tE

xerc

ise

Settl

emen

t

MC

X_S

X

Tota

lC

urre

ncy

Futu

res

Cur

renc

y O

ptio

ns

MT

M

Settl

emen

tFi

nal

Settl

emen

tPr

emiu

m

Settl

emen

t

NA

Exe

rcis

e Se

ttlem

ent

Mon

th/

Year

NSE

Tota

lC

urre

ncy

Futu

res

Cur

renc

y O

ptio

ns

MT

M

Settl

emen

tFi

nal

Settl

emen

tPr

emiu

m

Settl

emen

tE

xerc

ise

Settl

emen

t

N/A

USE

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

(` c

rore

)

16 48.7

14.8

17.1

16.9

Tota

l


Table 30: Trading Statistics of Interest Rate Futures Segment at NSE

582

No. of Contracts Trading Value

( crore)

1 2 3 4 5 6 7

2009-10 # 1,60,894 2,975 21.2 140 758 14

2010-11 3,348 62 0.25 249 1 0.02

2011-12$ 5 0 0 59 0 0

Apr-11 5 0.1 0.01 16 0 0.00

May-11 0 0.0 0.00 21 0 0.00

Jun-11 0 0.0 0.00 22 0 0.00

$ indicates as on June 30, 2011.Source: NSE.

# Interest Rate Futures trading restarted on August 31, 2009.

Month/ Year No. of Contracts Traded

Trading Value

( crore)

Average Daily Trading Value

( crore)

Number of Trading Days

Open Interest at the end of


Table 31: Interest Rate Futures trading at NSE during June 2011

583

No. of contracts Value

( crore)

1 2 3 4 5

01-Jun-11 0 0.0 0 0.0

02-Jun-11 0 0.0 0 0.0

03-Jun-11 0 0.0 0 0.0

06-Jun-11 0 0.0 0 0.0

07-Jun-11 0 0.0 0 0.0

08-Jun-11 0 0.0 0 0.0

09-Jun-11 0 0.0 0 0.0

10-Jun-11 0 0.0 0 0.0

13-Jun-11 0 0.0 0 0.0

14-Jun-11 0 0.0 0 0.0

15-Jun-11 0 0.0 0 0.0

16-Jun-11 0 0.0 0 0.0

17-Jun-11 0 0.0 0 0.0

20-Jun-11 0 0.0 0 0.0

21-Jun-11 0 0.0 0 0.0

22-Jun-11 0 0.0 0 0.0

23-Jun-11 0 0.0 0 0.0

24-Jun-11 0 0.0 0 0.0

27-Jun-11 0 0.0 0 0.0

28-Jun-11 0 0.0 0 0.0

29-Jun-11 0 0.0 0 0.0

30-Jun-11 0 0.0 0 0.0

Source: NSE.

Date No. of Contracts Traded

Trading Value

( crore)Open Interest


Table 32: Settlement Statistics in Interest Rate Futures Segment at NSE

(` crore)

584

Month/Year MTM Settlement Final Settlement

1 2 3

2009-10 # 27.8 109.7

2010-11 2.2 12.7

2011-12$ 0.0 0.0

Apr-11 0.0 0.0

May-11 0.0 0.0

Jun-11 0.0 0.0

$ indicates as on June 30, 2011.Source: NSE.

# Interest Rate Futures trading restarted on August 31, 2009.


585

Table 33: Trends in Foreign Institutional Investment

PeriodGross Purchase

( crore)

Gross Sales

( crore)

Net Investment

( crore)

Net Investment (US $ mn.)

Cumulative Net

(US $ mn.)

1 2 3 4 5 6

2008-09 6,14,579 6,60,389 -45,811 -9,838 58,167

2009-10 8,46,438 7,03,780 1,42,658 30,253 89,335

2010-11 9,92,599 8,46,161 1,46,438 32,226 1,21,561

2011-12$ 2,34,402 2,26,599 7,803 1,751 1,23,310

Apr-11 76,732 69,536 7,196 1,616 1,23,175

May-11 77,046 81,322 -4,276 -948 1,22,227

Jun-11 80,624 75,741 4,883 1,083 1,23,310

The data presented above is compiled on the basis of reports submitted to SEBI by custodians.$ indicates as on June 30, 2011.


586

Tab

le 3

4: D

aily

Tre

nd

s in

Fo

reig

n I

nst

itu

tio

nal

In

vest

men

t d

uri

ng

Ju

ne

2011

12

34

56

78

910

1112

01-J

un-1

16,

166

4,90

51,

261

280

611

742

-131

-29

6,77

75,

647

1,13

1

02-J

un-1

12,

467

1,77

869

015

435

061

6-2

67-5

92,

817

2,39

442

3

03-J

un-1

11,

791

1,64

015

134

696

154

541

120

2,48

71,

795

692

06-J

un-1

11,

983

1,44

553

812

02,

036

1,20

882

818

54,

019

2,65

31,

366

07-J

un-1

11,

573

1,99

6-4

23-9

537

51,

201

-826

-185

1,94

83,

196

-1,2

49

08-J

un-1

12,

013

1,97

636

81,

392

549

843

188

3,40

52,

526

879

09-J

un-1

11,

905

1,73

117

539

827

850

-23

-52,

732

2,58

115

2

10-J

un-1

11,

840

1,69

414

633

645

1,13

4-4

89-1

092,

485

2,82

8-3

43

13-J

un-1

11,

970

2,44

0-4

70-1

051,

817

1,53

727

962

3,78

63,

977

-191

14-J

un-1

11,

574

1,69

1-1

17-2

61,

945

927

1,01

722

73,

519

2,61

890

0

15-J

un-1

13,

436

3,80

9-3

73-8

31,

192

1,40

1-2

09-4

74,

628

5,21

1-5

82

16-J

un-1

12,

475

2,56

7-9

2-2

11,

186

1,34

2-1

56-3

53,

661

3,90

9-2

48

17-J

un-1

12,

222

2,64

5-4

23-9

453

277

0-2

38-5

32,

754

3,41

5-6

61

20-J

un-1

12,

105

2,46

9-3

63-8

11,

154

1,05

110

323

3,25

93,

520

-260

21-J

un-1

12,

588

3,01

5-4

27-9

51,

214

1,88

7-6

73-1

503,

802

4,90

2-1

,100

22-J

un-1

11,

705

2,25

6-5

51-1

232,

359

1,83

952

011

64,

064

4,09

5-3

2

23-J

un-1

11,

846

2,11

4-2

68-6

01,

543

2,10

9-5

65-1

263,

389

4,22

3-8

34

24-J

un-1

12,

156

1,67

248

410

876

358

317

940

2,91

92,

256

663

27-J

un-1

13,

683

2,66

11,

022

227

1,40

089

450

611

35,

083

3,55

51,

528

28-J

un-1

13,

888

2,09

71,

791

397

2,05

11,

440

612

136

5,93

93,

536

2,40

3

29-J

un-1

12,

913

1,89

71,

016

226

263

727

-465

-103

3,17

62,

625

551

30-J

un-1

13,

107

2,33

677

217

287

11,

946

-1,0

76-2

393,

978

4,28

2-3

04

To

tal

55,4

0550

,833

4,57

21,

014

25,2

1924

,908

311

6980

,624

75,7

414,

883

Dat

eE

qu

ity

Deb

tT

ota

l

Gro

ss S

ales

( c

rore

)

Net

In

vest

men

t

( c

rore

)

Net

In

vest

men

t (U

S $

mn

)*

Gro

ss S

ales

( c

rore

)

Net

In

vest

men

t

( c

rore

)

Gro

ss

Pu

rch

ase

( c

rore

)

Th

e d

ata

pre

sen

ted

ab

ove

is

com

pil

ed o

n t

he

bas

is o

f re

po

rts

sub

mit

ted

to

SE

BI

by

cust

od

ian

s o

n J

un

e 31

, 20

11 a

nd

co

nst

itu

tes

trad

es c

on

du

cted

by

FII

s o

n a

nd

up

to t

he

pre

vio

us

trad

ing

"N

ote

: T

he

dat

a p

erta

ins

to a

ll t

he

acti

viti

es u

nd

erta

ken

by

FII

s in

In

dia

n S

ecu

riti

es M

ark

et,

incl

ud

ing

tra

des

do

ne

in s

eco

nd

ary

mar

ket

, p

rim

ary

mar

ket

an

d a

ctiv

itie

s in

volv

ed i

n

Net

In

vest

men

t

( c

rore

)

Net

In

vest

men

t (U

S $

mn

.)*

Gro

ss

Pu

rch

ase

( c

rore

)

Gro

ss S

ales

( c

rore

)

Gro

ss

Pu

rch

ase

( c

rore

)

* C

on

vers

ion

rat

e: T

he

dai

ly R

BI

refe

ren

ce r

ate

as o

n t

he

trad

ing

day

has

bee

n a

do

pte

d.

(If

the

trad

ing

day

is

a b

ank

ho

lid

ay,

imm

edia

tely

pre

ced

ing

d

ay's

ref

eren

ce r

ate

has

bee

n u

sed

).


587

Tab

le 3

5: T

ren

ds

in R

eso

urc

e M

ob

ilis

atio

n b

y M

utu

al F

un

ds*

(` c

rore

)

Pvt

.

Sec

tor

UT

IP

ub

lic

Sec

tor

To

tal

Pvt

.

Sec

tor

UT

IP

ub

lic

Sec

tor

To

tal

Pvt

.

Sec

tor

UT

IP

ub

lic

Sec

tor

To

tal

12

34

56

78

910

1112

1314

2008

-09

42,9

2,75

14,

23,1

317,

10,4

7254

,26,

354

43,2

6,76

84,

26,7

907,

01,0

9254

,54,

650

-34,

018

-3,6

589,

380

-28,

296

4,17

,300

2009

-10

76,9

8,48

38,

81,8

5114

,38,

688

1,00

,19,

023

76,4

3,55

58,

66,1

9814

,26,

189

99,3

5,94

254

,928

15,6

5312

,499

83,0

806,

13,9

79

2010

-11

69,2

2,92

47,

83,8

5811

,52,

733

88,5

9,51

569

,42,

140

8,00

,494

11,6

6,28

889

,08,

921

-19,

215

-16,

636

-13,

555

-49,

406

5,92

,250

2011

-12$

15,8

9,55

91,

67,2

081,

73,7

3419

,30,

500

15,2

5,13

41,

61,0

661,

71,2

6118

,57,

461

64,4

256,

142

2,47

273

,039

6,73

,176

Ap

r-11

6,28

,601

73,6

4272

,750

7,74

,993

4,78

,539

56,2

2855

,895

5,90

,662

1,50

,062

17,4

1416

,855

1,84

,331

7,85

,374

May

-11

5,05

,533

51,2

9051

,652

6,08

,476

5,47

,245

52,8

0757

,273

6,57

,325

-41,

712

-1,5

17-1

6,85

5-4

8,85

07,

31,4

48

Jun

-11

4,55

,425

42,2

7649

,331

5,47

,032

4,99

,350

52,0

3158

,093

6,09

,474

-43,

925

-9,7

552,

472

-62,

442

6,73

,176

$ in

dic

ates

as

on

Ju

ne

30,

2011

.

Per

iod

G

ross

Mo

bil

isat

ion

Red

emp

tio

nN

et I

nfl

ow

/O

utf

low

Ass

ets

at

the

En

d o

f P

erio

d

2. N

et a

sset

s o

f `

412

9.1

cro

res

per

tain

ing

to

Fu

nd

s o

f F

un

ds

Sch

emes

fo

r Ju

ne’

11 i

s n

ot

incl

ud

ed i

n t

he

abo

ve d

ata.

1. N

et a

sset

s o

f `

388

3.2

cro

res

per

tain

ing

to

Fu

nd

s o

f F

un

ds

Sch

emes

fo

r A

pr

'11

is n

ot

incl

ud

ed i

n t

he

abo

ve d

ata.

* D

ata

are

Pro

visi

on

al.


588

Tab

le 3

6 A

: T

ype-

wis

e R

eso

urc

e M

ob

ilis

atio

n b

y M

utu

al F

un

ds

: O

pen

-en

ded

an

d C

lose

-en

ded

*

(` c

rore

)

Sal

eP

urc

has

eN

etS

ale

Pu

rch

ase

Net

Sal

eP

urc

has

eN

etS

ale

Pu

rch

ase

Net

12

34

56

78

910

1112

1314

Op

en-e

nde

d99

,76,

363

98,6

9,73

61,

06,6

2786

,65,

727

87,8

8,94

5-1

23,2

1819

,03,

472

18,1

6,18

387

,289

5,35

,952

6,00

,252

-64,

300

5,42

,206

Clo

se-e

nde

d25

,551

61,6

83-3

6,13

21,

28,8

7457

,216

71,6

5822

,526

29,6

71-7

,145

9,24

36,

677

2,56

61,

19,7

79

Inte

rval

17,1

094,

524

12,5

8564

,915

62,7

602,

154

4,50

211

,607

-7,1

051,

837

2,54

5-7

0811

,192

To

tal

1,00

,19,

023

99,3

5,94

283

,080

88,5

9,51

589

,08,

921

-49,

406

19,3

0,50

018

,57,

461

73,0

395,

47,0

326,

09,4

74-6

2,44

26,

73,1

76

2009

-10

Sch

eme

2010

-11

2011

-12$

Jun

-11

Net

Ass

ets

Un

der

Man

agem

ent

$

$ in

dic

ates

as

on

Ju

ne

30,

2011

.1.

Net

ass

ets

of

` 41

29.1

cro

res

per

tain

ing

to

Fu

nd

s o

f F

un

ds

Sch

emes

fo

r Ju

ne’

11 i

s n

ot

incl

ud

ed i

n t

he

abo

ve d

ata.

* D

ata

are

Pro

visi

on

al.


589

Tab

le 3

6 B

: Sch

eme-

wis

e R

eso

urc

e M

ob

ilis

atio

n b

y M

utu

al F

un

ds*

(` c

rore

)

2009

-10

Sal

eP

urc

has

eN

etS

ale

Pu

rch

ase

Net

Sal

eP

urc

has

eN

etS

ale

Pu

rch

ase

Net

15

67

89

108

910

1112

13

A.

Inco

me/

Deb

t O

rien

ted

Sch

emes

(i+

ii+

iii+

iv)

99,4

4,69

398

,63,

485

81,2

0887

,77,

034

88,1

7,37

7-4

0,34

319

,11,

715

18,3

9,98

671

,729

5,41

,485

6,03

,950

-62,

465

i

. Liq

uid/M

on

ey M

arke

t70

,44,

818

70,5

6,89

1-1

2,07

465

,99,

724

66,0

3,24

4-3

,520

16,4

1,59

715

,79,

775

61,8

214,

72,4

135,

18,2

29-4

5,81

5

ii

. Gilt

3,97

47,

271

-3,2

974,

450

4,56

6-1

1669

096

9-2

7817

426

0-8

7

iii.

Deb

t (o

ther

th

an a

ssur

ed r

etur

n)

28,9

5,90

127

,99,

323

96,5

7821

,72,

860

22,0

9,56

7-3

6,70

72,

69,4

282,

59,2

4210

,186

68,8

9885

,461

-16,

563

iv

. Deb

t (a

ssur

ed r

etur

n)

00

00

00

00

00

00

B.

Gro

wth

/E

qu

ity

Ori

ente

d

Sch

emes

(i+

ii)

64,7

1462

,565

2,14

966

,592

79,7

30-1

3,13

814

,283

14,2

3053

4,36

74,

427

-60

i

. EL

SS3,

600

2,04

71,

554

3,45

03,

184

266

520

957

-437

154

234

-80

ii

. Oth

ers

61,1

1460

,519

595

63,1

4276

,547

-13,

405

13,7

6313

,273

490

4,21

34,

193

20

C.

Bal

ance

d S

chem

es4,

693

5,38

6-6

937,

490

6,14

61,

345

1,40

01,

080

320

440

356

83

D.

Exc

han

ge

Tra

ded

Fu

nd

(i+

ii)

3,53

52,

752

783

7,70

94,

072

3,63

72,

558

1,94

661

269

465

242

i

. Go

ld E

TF

997

194

803

2,84

259

32,

249

1,17

323

094

331

360

252

i

i. O

ther

ET

Fs

2,53

82,

558

-20

4,86

73,

479

1,38

81,

385

1,71

6-3

3138

259

2-2

10

E.

Fu

nd

s o

f F

un

ds

Inve

stin

g

vers

eas

1387

1754

-367

689

1596

-907

545

219

325

4688

-42

To

tal

(A+

B+

C+

D+

E)

1,00

,19,

023

99,3

5,94

283

,080

88,5

9,51

589

,08,

921

-49,

406

19,3

0,50

018

,57,

461

73,0

395,

47,0

326,

09,4

74-6

2,44

2

$ in

dic

ates

as

on

Ju

ne

30,

2011

.*

Dat

a ar

e P

rovi

sio

nal

.

Sch

eme

2010

-11

2011

-12$

Jun

-11

1. N

et a

sset

s o

f ` 4

129.

1 cr

ore

s p

erta

inin

g t

o F

un

ds

of

Fu

nd

s S

chem

es f

or

Jun

e’11

is

no

t in

clu

ded

in

th

e ab

ove

dat

a.

590

Gross Purchase

Gross Sales

Net Purchase/

Sales

Gross Purchase

Gross Sales

Net Purchase/

Sales

Gross Purchase

Gross Sales

Net Purchase/

Sales

1 2 3 4 5 6 7 8 9 10

2008-09 1,44,069 1,37,085 6,985 3,27,744 2,45,942 81,803 4,71,814 3,83,026 88,787

2009-10 1,95,662 2,06,173 -10,512 6,24,314 4,43,728 1,80,588 8,19,976 6,49,901 1,70,076

2010-11 1,54,217 1,74,018 -19,802 7,62,644 5,13,493 2,49,153 9,16,861 6,87,511 2,29,352

2011-12$ 32,352 31,558 794 2,40,451 1,46,480 93,971 2,72,803 1,78,037 94,765

Apr-11 9,630 10,094 -464 1,01,333 38,373 62,960 1,10,963 48,467 62,496

May-11 12,206 11,771 435 46,961 51,133 -4,172 59,167 62,904 -3,737

Jun-11 10,517 9,693 823 92,156 56,973 35,183 1,02,672 66,666 36,006

Note : The above report is compiled on the basis of reports submitted to SEBI by custodians on March 28, 2011 and constitutes trades conducted by Mutual Funds on and upto the previous trading day.

PeriodEquity Debt Total



Table 38: Substantial Acquisition of Shares and Takeovers

591

No. of issue

Amount

( crore)No. of issue

Amount


Amount

( crore)

1 2 3 4 5 6 7 8 9 10 11

2008-09 80 3,713 13 598 6 400 99 4,711 227 10,502

2009-10 56 3,649 14 1,761 6 448 76 5,858 206 13,864

2010-11 71 10,251 17 8,902 14 145 103 18,748 410 28,042

2011-12$ 7 1,403 0 0 2 41 9 1,444 40 5,354

Apr-11 5 1,396 0 0 0 0 5 1,396 21 4,520

May-11 1 4 0 0 1 33 2 37 2 10

Jun-11 1 3 0 0 1 8 2 11 17 824

Note: The data has been revised for the year 2009-10 and 2010-11.$ indicates as on June 30, 2011.

Substantial Acquisition No. of

issueAmount (` crore)

Year/Month

Open Offers

Objectives Total

Change in Control of Management

Consolidation of Holdings No. of

issueAmount (` crore)

Automatic Exemption


592

Jun-

11M

ay-1

1Ju

n-10

Per

cent

Cha

nge

over

Cor

resp

ondi

ng

Pre

viou

s

year

Per

cent

Cha

nge

duri

ng

mon

th

89

1011

12

7,13

87,

033

6,20

515

.01.

5

553

550

515

7.4

0.5

1818

180.

00.

0

76.0

75.6

67.6

12.4

0.5

12,0

6411

,528

8,44

442

.94.

6

10,9

6,18

710

,89,

116

8,64

,093

26.9

0.6

298

313

337

-11.

5-4

.7

1010

11-1

1.5

-4.7

24,1

3724

,697

33,2

84-2

7.5

-2.3

805

823

1,10

9-2

7.5

-2.3

123

235

808

-84.

8-4

7.7

16.2

616

.013

.619

.21.

4

CD

SL

Tab

le 3

9: P

rog

ress

Rep

ort

of

NS

DL

& C

DS

L a

s o

n J

un

e 31

, 20

11 (

Lis

ted

co

mp

anie

s)

Jun-

11M

ay-1

1Ju

n-10

Per

cent

Cha

nge

over

Cor

resp

ondi

ng

Pre

viou

s

year

Per

cent

Cha

nge

duri

ng m

onth

12

34

56

7

Num

ber o

f co

mpa

nies

sig

ned

up to

m

ake

thei

r sha

res

avai

labl

e fo

r de

mat

eria

lizat

ion

No

5,23

45,

222

5,07

93.

10.

2

Num

ber o

f D

epos

itory

Par

ticip

ants

(r

egis

tere

d)N

o29

529

328

72.

80.

7

Num

ber o

f St

ock

Exc

hang

es

(con

nect

ed) *

No

88

80.

00.

0

Num

ber o

f In

vest

ors

Acc

ount

sL

akh

117.

211

6.5

107.

09.

60.

6

Qua

ntity

of

Shar

es d

emat

eria

lized

cror

e26

,942

26,6

4822

,269

21.0

1.1

Val

ue o

f Sh

ares

dem

ater

ializ

ed`

cror

e46

,97,

367

46,8

6,82

243

,39,

725

8.2

0.2

Qua

ntity

of

shar

es s

ettle

d du

ring

the

mon

thcr

ore

536

555

614

-12.

7-3

.4

Ave

rage

Qua

ntity

of

shar

es s

ettle

d da

ily (q

uant

ity o

f sh

ares

set

tled

durin

g th

e m

onth

(div

ided

by

30))

cror

e24

2528

-12.

7-3

.4

Val

ue o

f sh

ares

set

tled

durin

g th

e m

onth

in d

emat

eria

lized

form

` cr

ore

97,0

671,

06,1

791,

09,9

76-1

1.7

-8.6

Ave

rage

Val

ue o

f sh

ares

set

tled

daily

(val

ue o

f sh

ares

set

tled

durin

g th

e m

onth

(div

ided

by

30))

` cr

ore

4,41

24,

826

4,99

9-1

1.7

-8.6

Trai

ning

Pro

gram

mes

con

duct

ed

for r

epre

sent

ativ

es o

f C

orpo

rate

s, D

Ps a

nd B

roke

rsno

1,00

91,

000

725

39.2

0.9

The

ratio

of

dem

ater

ializ

ed e

quity

sh

ares

to th

e to

tal o

utst

andi

ng

shar

es (m

arke

t val

ue)

perc

ent

69.2

69.1

67.6

2.3

0.2

Para

met

erU

nit

NSD

L

Sour

ce: N

SDL

and

CD

SL.

* 18

Sto

ck E

xcha

nges

con

nect

ed to

CD

SL in

clud

e 8

Cle

arin

g C

orpo

ratio

n /

Cle

arin

g H

ouse

whi

ch a

re c

onne

cted

to C

DSL

to h

andl

e C

lear

ing

Hou

se fu

nctio

ns,

whi

le th

e re

mai

ning

exc

hang

es


593

Tab

le 4

0: P

rog

ress

of

Dem

ater

iali

sati

on

at

NS

DL

an

d C

DS

L

Co

mp

anie

s L

ive

DP

s L

ive

DP

sL

oca

tio

ns

(No

s.)

Dem

at

Qu

anti

ty

(mil

lio

n s

har

es)

Dem

at V

alu

e

( c

rore

)

Co

mp

anie

s L

ive

DP

s L

ive

DP

sL

oca

tio

ns

(No

s.)

Dem

at

Qu

anti

ty

(mil

lio

n s

har

es)

Dem

at V

alu

e

( c

rore

)

12

34

56

78

910

2008

-09

7,80

127

58,

777

2,82

,870

31,0

6,62

46,

213

461

6,93

470

,820

4,39

,703

2009

-10

8,12

428

611

,170

3,51

,138

56,1

7,84

26,

801

490

8,59

077

,950

8,38

,928

2010

-11

8,84

229

312

,767

4,71

,304

66,0

7,90

08,

030

544

10,0

521,

05,3

1010

,81,

417

2011

-12$

9,04

729

513

,196

4,86

,191

6,55

7,90

08,

468

553

9,93

812

0,64

01,

096,

187

Ap

r-11

8,89

829

312

,898

4,74

,463

65,8

9,10

08,

265

546

10,0

961,

10,4

0011

,52,

828

May

-11

8,98

729

312

,986

4,81

,244

64,5

7,50

08,

346

550

10,1

491,

15,2

8010

,89,

116

Jun

-11

9,04

729

513

,196

4,86

,191

65,5

7,90

08,

468

553

9,93

81,

20,6

4010

,96,

187

No

te :

Th

e co

un

t o

f D

Ps

incl

ud

es m

ain

DP

s as

wel

l as

Bra

nch

DP

s.

D

Ps

Lo

cati

on

s' r

epre

sen

ts t

he

tota

l li

ve (

mai

n D

Ps

and

bra

nch

DP

sas

wel

l as

no

n-l

ive

(bac

k o

ffic

e co

nn

ecte

d c

oll

ecti

on

cen

tres

).$

ind

icat

es a

s o

n J

un

e 30

, 20

11.

So

urc

e: N

SD

L a

nd

CD

SL

.

Yea

r/M

on

th

NS

DL

CD

SL

11


594

Tabl

e 41

: Ass

ets

unde

r the

Cus

tody

of

Cus

todi

ans

No.

Amou

nt

( c

rore

)N

o.Am

ount

( c

rore

)N

o.Am

ount

( c

rore

)N

o.Am

ount

( cr

ore)

No.

Amou

nt

( cr

ore)

No.

Amou

nt

( cr

ore)

12

34

56

78

910

1112

13

2008

-09

3,88

33,

91,9

5413

71,8

3962

192

,694

7316

,579

4356

982

045

5

2009

-10

6,99

89,

00,8

6970

1,56,

616

919

1,45,

555

115

17,6

0439

1,011

1,376

1,071

2010

-11

7,47

411

,06,

550

771,8

5,93

11,0

481,4

6,23

114

424

,002

381,0

0597

991

0

2011

-12$

7,73

01,0

86,3

8876

169,

970

1,072

151,2

5114

624

,926

3896

994

992

8

Apr-1

17,5

6511

,06,71

876

1,81,3

801,0

431,5

0,382

145

24,55

938

1,035

983

937

May

-11

7,651

10,81

,996

761,7

2,380

1,059

1,50,2

6814

724

,698

3897

695

693

0

Jun-

117,7

3010

,86,38

876

1,69,9

701,0

721,5

1,251

146

24,92

638

969

949

928

Fore

ign

Dep

osito

ries

Fore

ign

Vent

ure

Capi

tal

Inve

stm

ents

$ in

dica

tes a

s on

June

30,

201

1.

Clie

nt

Perio

d

FIIS

/SAs

OCB

sN

RIs

FDI

Inve

stm

ents

No.

Amou

nt

( cr

ore)

No.

Amou

nt

( cr

ore)

No.

Amou

nt

( cr

ore)

No.

Amou

nt

( cr

ore)

No.

Amou

nt

( cr

ore)

No.

Amou

nt

( cr

ore)

1415

1617

1819

2021

2223

2425

1,701

3,78

,954

418

19,4

3072

27,8

5915

44,

42,11

775

3,27

420

32,0

08

1,209

5,84

,628

1,491

29,3

2873

42,5

9718

97,

80,6

1098

24,2

6619

47,6

07

1,491

5,91

,937

547

48,7

2378

85,8

6321

89,

08,11

210

034

,970

3662

,600

1,572

637,

511

528

45,6

2777

76,6

9022

390

2,24

310

141

,687

3664

,432

1,49

57,2

6,706

549

46,75

278

71,50

922

19,0

3,691

100

35,71

635

60,04

4

1,534

6,81,4

1153

146

,865

7876

,614

223

8,92,4

1710

039

,662

3560

,149

1,572

6,37,5

1152

845

,627

7776

,690

223

9,02,2

4310

141

,687

3664

,432

Bank

sIn

sura

nce

Com

pani

esLo

cal P

ensio

n Fu

nds

Fina

ncia

l In

stitu

tions

Co

rpor

ates

Mut

ual F

unds

No.

Amou

nt

( cr

ore)

No.

Amou

nt

( cr

ore)

2627

2829

5,31

999

,857

13,2

1215

,77,

589

10,16

61,3

1,199

22,7

6228

,62,

961

11,0

231,5

4,24

223

,253

33,5

1,076

10,6

7415

3,88

523

,222

33,5

6,50

7

11,00

71,5

4,079

23,33

534

,63,50

7

10,46

11,5

3,287

22,88

933

,81,65

3

10,67

41,5

3,885

23,22

233

,56,50

7

Oth

ers

Tota

l


595

No. of issue

Amount


Amount


Amount


Amount


Amount


Amount

( crore)

1 2 3 4 5 6 7 8 9 10 11 12 13

2008-09 307 5,23,589 349 1,38,471 298 53,240 526 52,372 396 24,220 1,876 7,91,892

2009-10 275 5,03,347 321 1,41,089 249 42,121 691 29,550 1,507 45,942 3,043 7,62,050

2010-11 244 5,11,583 267 1,82,584 249 90,445 579 69,283 1,843 42,704 3,199 9,07,685

2011-12$ 55 320,433 61 79,776 57 45,551 152 5,412 537 11,289 862 3,53,210

Apr-11 21 1,22,454 7 2,051 14 27,404 46 1,500 166 3,118 254 1,56,527

May-11 19 1,63,228 32 56,571 27 16,445 34 1,977 169 5,061 281 1,34,031

Jun-11 15 34,751 22 21,154 16 1,702 72 1,934 202 3,110 327 62,652

Source: Credit Rating Agencies.


Grade

Period

Investment GradeNon-Investment

GradeTotalHighest Safety

(AAA)High Safety

(AA)Adequate Safety

(A)Moderate Safety

(BBB)


596

No.

of issue

Amount

( crore)

No.

of issue

Amount

( crore)

No.

of issue

Amount

( crore)

No.

of issue

Amount

( crore)

No.

of issue

Amount

( crore)

No.

of issue

Amount

( crore)

No.

of issue

Amount

( crore)

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15

2008-09 36 17,033 251 1,60,021 1,430 23,23,424 52 1,23,303 335 44,853 1 90 2,105 26,68,725

2009-10 197 61,052 324 1,31,668 2,766 30,80,727 70 27,726 358 84,569 0 0 3,715 33,85,741

2010-11 743 1,57,395 310 28,203 3,605 41,99,714 100 38,662 518 87,314 0 0 5,341 45,11,289

2011-12$ 191 22,511 122 25,867 724 1,153,952 3 3,366 150 9,112 0 0 1,200 1,216,485

Apr-11 51 2,576 46 12,664 224 3,33,338 1 1,122 31 2,193 0 0 354 3,51,893

May-11 79 11,513 38 4,202 251 5,00,542 1 1,122 40 4,412 0 0 413 5,23,951

Jun-11 61 8,422 38 9,001 249 3,20,071 1 1,122 79 2,507 0 0 433 3,40,641

$ indicates as on June 30, 2011.Source: Credit Rating Agencies.

Grade

Period

Upgraded Downgraded Reaffirmed TotalRating WatchWithdrawn/ Suspended

Not Meaningful

Category

Table 43: Review of Accepted Ratings of Corporate Debt Securities (Maturity ³ 1 year)


597

Table 44: Macro Economic Indicators

48,77,842

33.7

36.5

February March April May June

2011 2011 2011 2011 2011

Cash Reserve Ratio (percent) 6.0 6.0 6.0 6.0 6.0

Bank Rate (percent) 6.0 6.0 6.0 6.0 6.0

Money Supply (M3) ( crore) 63,59,197 64,96,747 66,48,565 66,55,037 66,86,002

Aggregate Deposit (` crore) 50,83,852 52,04,703 53,16,009 53,21,641 53,66,611

Bank Credit (` crore) 38,10,445 39,38,659 39,57,384 39,50,383 40,12,107

Call Money Rate( lending / borrowing )-Max 6.8 7.6 6.7 6.7 7.7

91-Day-Treasury Bill (maximum) 6.6 6.9 8.1 7.4 7.6

Base rate (Maximum) (percent) 9.5 9.5 10.0 10.0 10.0

Deposit Rate(one year maturity) (Maximum) 9.5 9.5 9.5 9.1 9.1

Turnover (BSE+NSE) 3,35,334 3,35,334 2,97,685 2,93,335 2,81,794Market Cap-BSE 63,43,072 68,39,084 69,08,090 67,31,869 67,30,947

Market Cap-NSE 61,95,967 67,02,616 67,53,614 65,69,743 65,74,743

Net FII Investment in Equity -4,586 6,898 7,213 -6,614 4,572

Forex Reserves (USD million) 3,00,786 3,03,482 3,07,493 3,10,215 3,09,020

Re/ Dollar 45.2 44.7 44.9 45.0 44.7

Re/Euro 62.2 63.2 64.0 64.8 64.8

6- months Inter Bank Forward Premia of US

Dollar (percentper annum) 6.6 7.3 6.8 5.8 6.6

Govt. Market Borrowing - Gross ( crore) 4,37,000 4,37,000 48,000 72,000 1,08,000

Wholesale Price Index (Base 2004-05) 146.0 148.0 150.6 151.7 153.0

General 167.7 192.1 166.9 165.3 NA

Mining 131.7 151.1 128.0 130.4 NAManufacturing 179.0 205.0 177.1 173.4 NA

Electricity 134.3 154.4 146.0 153.3 NA

Exports 23,597 29,135 23,849 25,941 NAImports 31,701 34,743 32,834 40,907 NA

Trade Balance -8,104 -5,608 -8,985 -14,966 NA

* Revised Estimate.

NA indicates Not Avaliable.

Source : RBI, CSO, Ministry of Commerce & Industry.

I. GDP at factor cost for 2010-11 (at 2004-05 prices) ( crore)*

IX. Index of Industrial Production (y-o-y)percent (Base year 2004-05 = 100)

X. External Sector Indicators (USD million)

II. Gross Domestic Saving as a percent of GDP at current market prices in 2009-10

III. Gross Domestic Capital Formation as a percent of GDP at current market prices in 2009-10

IV. Monetary and Banking Indicators

V. Interest Rate

VI. Capital Market Indicators ( crore)

VII. Exchange Rate and Reserves

VIII. Public Borrowing and Inflation


598

Tab

le 4

5: D

aily

Ret

urn

an

d V

ola

tili

ty:

Sel

ect

Wo

rld

Sto

ck I

nd

ices

(Per

cen

t)

Ret

urn

V

ola

tili

tyR

etu

rn

Vo

lati

lity

Ret

urn

V

ola

tili

tyR

etu

rn

Vo

lati

lity

Ret

urn

Vo

lati

lity

Ret

urn

V

ola

tili

tyR

etu

rn

Vo

lati

lity

12

34

56

78

910

1112

1314

15

2007

0.0

0.9

0.2

1.1

-0.1

1.1

0.1

1.0

0.1

1.7

0.1

1.4

0.1

1.0

2008

-0.2

2.6

-0.2

2.4

-0.2

2.6

-0.2

2.0

-0.2

3.0

-0.2

2.2

-0.1

1.1

2009

0.1

1.5

0.1

1.5

0.1

1.7

0.1

1.3

0.2

2.0

0.2

1.6

0.1

0.8

2010

0.0

1.1

0.0

1.1

-0.1

1.5

-0.1

1.0

0.0

1.1

0.0

0.9

0.1

0.6

2011

$0.

10.

70.

00.

90.

11.

10.

00.

8-0

.11.

0-0

.20.

80.

00.

5

Fra

nce

CA

CA

ust

rali

aA

S 3

0H

on

g K

on

g

HS

IS

ing

apo

reS

TI

Mal

aysi

aK

LC

IC

alen

dar

Yea

r

US

AD

OW

JO

NE

SU

KF

TS

E 1

00

Ret

urn

V

ola

tili

tyR

etu

rn

Vo

lati

lity

Ret

urn

V

ola

tili

tyR

etu

rn

Vo

lati

lity

Ret

urn

V

ola

tili

tyR

etu

rn

Vo

lati

lity

Ret

urn

V

ola

tili

ty

116

1718

1920

2122

2324

2526

2728

29

2007

0.1

1.7

0.0

1.4

0.1

1.2

-0.1

1.2

0.3

2.2

0.2

1.5

0.2

1.6

2008

-0.2

3.4

-0.2

2.4

-0.2

2.3

-0.2

2.9

-0.4

2.9

-0.2

2.8

-0.2

2.7

2009

0.3

1.8

0.2

1.6

0.1

1.5

0.1

1.6

0.2

1.9

0.3

2.1

0.3

2.1

2010

0.0

1.3

0.0

0.9

0.0

1.1

-0.1

1.4

-0.1

1.4

0.0

1.0

0.0

1.0

2011

$-0

.21.

0-0

.10.

80.

01.

00.

01.

70.

11.

1-0

.31.

2-0

.31.

2

So

urc

e: B

loo

mb

erg

.$

ind

icat

es a

s o

n J

un

e 30

, 20

11.

Cal

end

ar

Yea

r

Bra

zil

IBO

VM

exic

oM

EX

BO

LS

ou

th A

fric

aJA

LS

HJa

pan

NK

YC

hin

aS

HC

OM

PIn

dia

BS

E S

EN

SE

XIn

dia

S&

P C

NX

NIF

TY

Tab

le 4

5: D

aily

Ret

urn

an

d V

ola

tili

ty:

Sel

ect

Wo

rld

Sto

ck I

nd

ices

(C

on

cld

.)

(Per

cen

t)

PUBLICATIONS


1. Annual Reports:

2. Handbook of Statistics on Indian Securities Market, 2010.

Interested persons may contact the Department of Economic and Policy Analysis of SEBI to obtain a copy

of Annual Report / Handbook of Statistics at the following address:

Department of Economic and Policy Analysis

Securities and Exchange Board of India

Plot No. C4-A, 'G' Block,

Bandra Kurla Complex,

Bandra (E), Mumbai - 400051.

Tel No. +91-22-26449000.

Fax No. +91-22-26449021.

2009-10.

599

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