SEBIB. Order 1. Order in the Matter of M/s. Sound craft Industries Ltd., M/s. Kolar Biotech Ltd. 112 and M/s. Adam Comsof Ltd. 2. Order in the Matter of M/s. Empower Industries India

SEBIBULLETIN

February 2012 VOL. 10 NuMber 2

^maVr¶ à{V^y{V Am¡a {d{Z‘¶ ~moS>©Securities And Exchange Board Of India

eDITOrIaL COMMITTee

• Mr.AnantaBarua

• Mr.J.Ranganayakulu

• Mr.NagenderParakh

• Dr.AnilKumarSharma

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 [email protected] along with their complete address. A readable version of SEBI Bulletin is available at http://www.sebi.gov.in. Any comments and suggestions on any of the features/ sections may be sent to [email protected].

Contents

Page

CAPITALMARKETREVIEW 93

PRESSRELEASES 106

A. General 106

1. Toll-free Helpline Service for Investors 106

2. SEBI Board Meeting Held on 3rd January 2012 106

i. Manner of Increasing Minimum Public Shareholding to 106 Comply with Securities Contracts Regulation (Rules), 1957

ii. Amendment to SEBI (Buyback of Securities) Regulations, 1998 107

3. Rejection of Request for Exemption of M/s. Futuristics Garments 108 Private Limited (Acquirer) for the Proposed Acquisition of Shares of M/s. Surya Pharmaceuticals Limited (Target Company)

4. Grant of Exemption to Mr. Bijay Kumar Garodia , Mr. Ramesh Kumar 108 Sarawagi and Mr. Shankar Lall Ajitsaria (Acquirers) for the Proposed Acquisition of Shares of M/s. Kharikatia Tea & Industries Limited (Target Company)

5. Grant of Exemption to Mr. Vinod Kumar Agrawal, Mr. Subash Chand 109 Agrawal, M/s. R N Commotrade Private Limited and M/s. Singhal General Traders Private Limited (Acquirers) for the Proposed Acquisition of Shares of M/s. MSD Properties Limited (Target Company)

6. First Meeting of SEBI’s International Advisory Board 109

7. SEBI Board Meeting Held on 28th January 2012 111

i. Reservation to Holders of Convertible Debt Securities in 111 Rights/Bonus Issues

ii. Waiver of Certain Requirements Relating to Preferential Allotment 111 to Insurance Companies and Mutual Funds

iii. Amendment to SEBI (Mutual Fund) Regulations, 1996 111

iv. Amendment to SEBI (Portfolio Managers) Regulations, 1993 112

B. Order

1. Order in the Matter of M/s. Sound craft Industries Ltd., M/s. Kolar Biotech Ltd. 112 and M/s. Adam Comsof Ltd.

2. Order in the Matter of M/s. Empower Industries India Ltd. 1133. Order in Respect of M/s. Khandwala Securities Limited in the Matter of M/s. Kopran Limited 1134. Order in Respect of M/s. Jayantilal Khandwala & Sons Private Limited in the Matter of 113

M/s. Kopran Limited5. Order in Respect of M/s. VSB Investments P. Ltd. in the Matter of Trading by 113

Connected Entities6. Order in Respect of M/s. Neptune Securities Pvt. Ltd. in the Matter of 113

M/s. Priyans Saree Industries Ltd.7. Order in Respect of M/s. Sanchay Fincom Limited in the Matter of 113

M/s. T. Spiritual World Limited8. Order in Respect of Sh. Adolf Pinto in the Matter of M/s. T. Spiritual World Limited 113

CIrCuLar

1. Changes In Re-Investment Period of FII Debt Limit 1142. Disclosure of Track Record of the Public Issues Managed by Merchant Bankers 1153. Investment by Qualified Foreign Investors (QFI) in Indian Equity Shares. 1164. Call Auction in Pre-open session for Initial Public Offering (IPO) and Other Category of Scrips 1245. Trade Controls in Normal Trading Session for Initial Public Offering (IPO) and Other

Category of Scrips. 1266. Investor Grievance Redressal Mechanism at Stock Exchanges 1287. Composition of Arbitration Committee 1298. Eligibility criteria for Qualified Depository Participant 130

ORDERPASSEDBYADJUDICATINGOFFICERANDCHAIRMAN/MEMBERS 131

HIGHLIGHTSOFDEVELOPMENTSININTERNATIONALSECURITIESMARKET 138

aNNeXure 141

PUBLICATIONS 200

93

FEBRUARY SEBI BULLETIN 2012

1. TrendsinPrimaryMarket

A. EquityandDebtIssue

During January 2012, an aggregate amount of ` 6,300 crore was mobilised through one public debt issue compared to three debt issues worth ` 10,759.3 crore in December 2011. January 2012, like the last three months, did not see a single equity issue made in the primary market. The

CAPITALMARKETREVIEW

cumulative amount mobilised for the financial year 2011-12, so far, stands at ` 34,463.4 crore through 52 issues as against ` 54,097.9 crore raised through 70 issues during the corresponding period in 2010-11.

Table1:PrimaryMarketTrends

ItemsJan-12 Dec-11 2011-12$ 2010-11$

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 9a) Public Issues (i) +(ii) 1 6,300.0 3 10,759.3 42 32,375.8 56 50,046.9i) Public issue (Equity) 0 0.0 0 0.0 30 9,559.0 52 47,801.9 of which IPOs 0 0.0 0 0.0 29 4,980.8 47 34,706.9 FPOs 0 0.0 0 0.0 1 4,578.2 5 13,095.1ii) Public Issue (Debt)* 1 6,300.0 3 10,759.3 12 22,816.8 4 2,245.0b) Rights Issues 0 0.0 0 0.0 10 2,087.6 14 4,051.0Total Equity Issues (i+b) 0 0.0 0 0.0 40 11,646.6 66 51,852.9Total(a+b) 1 6,300.0 3 10,759.3 52 34,463.4 70 54,097.9IPOsimplyInitialPublicOffers,FPOsimplyFollowonPublicOffers.NCDimpliesNonConvertibleDebenture.*IndicatesthefiguresforthemonthofDecember2011andJanuary2012areprovisional.$AsonlasttradingdayofJanuary.

Figure1:PrimaryMarket(EquityIssues)TrendsthroughPublicandRightsIssues(` crore)

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B. QIPsListedatBSEandNSE

mobilised amount for the financial year 2011-12, so far, stood at ` 1,043 crore through eight issues (of which seven are listed at both BSE and NSE) (DetailsinAnnex–Table9).

C. PreferentialAllotmentsListedatBSEandNSE

There were 34 preferential allotments (` 738 crore) listed at BSE and NSE during January 2012 as compared to 19 preferential allotments (` 517 crore) in December 2011. The cumulative mobilised amount for the financial year 2011-

12, so far, stood at ` 21,777 crore through 268 preferential allotments (of which 79 allotments amounting ` 15,642 crore were listed at both BSE and NSE) (DetailsinAnnex–Table10).

D. PrivatePlacementofCorporateDebtReportedtoBSEandNSE

In the corporate debt market, ` 25,414 crore was raised through 158 issues by way of private placement listed at BSE and NSE during January 2012 compared to ` 31,896 crore raised through 232 issues in December 2011. The cumulative privately placed amount for the financial year

2011-12, so far, stood at ` 2,13,945 crore through 1,562 issues (of which 919 issues of ` 1,55,582 crore reported to only NSE, 630 issues of ` 46,993 crore reported to only BSE and 13 issues of ` 11,370 crore reported to both BSE and NSE) (DetailsinAnnex–Table11).

E. ResourceMobilisationbyMutualFunds

During January 2012, Mutual Funds mobilised ` 23,553 crore (of which ` 18,075 crore was mobilised by private sector mutual funds and ` 5,478 crore by public sector mutual funds) as compared to ` 63,420 crore liquidated (of which ` 57,291 crore was liquidated from private sector mutual funds and ` 6,129 crore from public sector mutual funds) during December 2011.

During the financial year 2011-12, so far, mutual funds mobilised ` 60,471 crore as compared to ` 52,289 crore mobilised during the corresponding period in 2010-11. The market value of assets under management stood at ` 6,59,153 crore as on January 31, 2012 as compared to ` 6,11,402 crore as on December 30, 2011, indicating an increase of 7.8 percent (DetailsinAnnex-Table45).

II.TrendsIntheSecondaryMarket

During January 2012, one listed company raised capital of ` 3 crore from Primary Market through QIP channel compared to ̀ 68 crore raised through one issue in December 2011. The cumulative

BSE Sensex closed at 17,193.6 on January 31, 2012, as against 15,454.9 on December 30, 2011, registering an increase of 1738.7 points (11.2 percent). During

January 2012, Sensex recorded an intraday high of 17,259.0 on January 27, 2012 and an intraday low of 15,358.0 on January 2, 2012.

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Figure 2: Movement of Sensex and Nifty

Table2:TheBasicIndicatorsinCashMarket

Particulars 2009-10 2010-11 2011-12$ Dec-11 Jan-12Percentagechangeoverthepreviousmonth

1 2 3 4 5 6 7A.IndicesBSE Sensex 17527.8 19445.2 17193.6 15,454.9 17,193.6 11.2S&P CNX Nifty 5249.1 5833.8 5199.3 4,624.3 5,199.3 12.4B.MarketCapitalisation(`crore)BSE 61,65,619 68,39,084 60,59,347 53,48,645 60,59,347 13.3NSE 60,09,173 67,02,616 59,37,039 52,32,273 59,37,039 13.5C.GrossTurnover(`crore)BSE 13,78,809 11,05,027 5,34,833 39,492 52,571 33.1NSE 41,29,214 35,77,410 22,10,603 1,88,886 2,36,872 25.4D.P/ERatioBSE Sensex 21.3 21.2 17.7 16.4 17.7 7.9S&P CNX Nifty 22.3 22.1 18.5 16.8 18.5 10.6$AsonlasttradingdayofJanuary2012Source:BSEandNSE.

S&P CNX Nifty closed at 5,199.3 on January 31, 2012 compared to 4,624.3 on December 30, 2011, indicating an increase of 575 points (12.4

percent). During January 2012, Nifty recorded an intraday high of 5,217.0 on January 27, 2012 and an intraday low of 4,588.1 on January 2, 2012.

The P/E ratio of BSE Sensex was 17.7 as on January 31, 2012 as against 16.4 on December 30, 2011. The

P/E ratio of S&P CNX Nifty was 18.5 as on January 31, 2012 as against 16.8 on December 30, 2011.

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Figure3:MonthlyAverageofBSETurnoverandSensex

The market capitalisation of BSE increased by 13.3 percent from ` 53,48,645 crore as on December 30, 2011 to ` 60,59,347 crore as on January 31, 2012. Further, the market capitalisation of NSE,

stood at ` 59,37,039 crore on January 31, 2012 compared to ` 52,32,273 crore as on December 30, 2011, an increase of 13.5 percent.

Figure4:MonthlyAverageofNSETurnoverandNifty

The monthly turnover of BSE (cash segment) increased by 33.1 percent from ` 39,492 crore in December 2011 to ` 52,571 crore in January 2012. Further, the monthly turnover of NSE

(cash segment) increased by 25.4 percent from ` 1,88,886 crore in December 2011 to ` 2,36,872 crore in January 2012.

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Table3:PerformanceofIndicesatBSEandNSEduringJanuary2012(Percent)

BSE NSE

Index ChangeoverPreviousmonth Volatility Index Changeover

Previousmonth Volatility

1 2 3 4 5 6BSE Sensex 11.2 1.1 S&P CNX Nifty 12.4 1.1BSE 100 13.1 1.1 CNX Nifty Junior 17.8 1.2BSE 200 13.3 1.1 S&P CNX 500 13.5 1.1BSE 500 13.3 1.1 CNX Mid-cap 16.2 1.1BSE Small Cap 16.5 1.0 CNX 100 13.2 1.1BSE FMCG 1.0 0.8 S&P CNX Defty 21.4 1.4BSE Consumer Durables 11.8 1.1 CNX IT 0.9 1.8BSE Capital Goods 22.3 2.2 Bank Nifty 24.5 1.7BSE Bankex 24.4 1.7 Nifty Mid-cap 50 20.3 1.4BSE Teck 2.9 1.6BSE Oil & Gas 12.9 1.6BSE Metal 23.7 2.0BSE Auto 13.5 1.3BSE PSU 15.6 1.2BSE Healthcare 7.9 0.6Source:BSEandNSE.

500 Index (13.5 percent), CNX 100 Index (13.2 percent), S&P CNX Nifty Index (12.4 percent), CNX IT Index (0.9 percent).During January 2012, among BSE indices, the daily volatility of BSE Capital Goods Index was highest at 2.2 percent followed by BSE Metal Index (2 percent), BSE Bankex Index (1.7 percent), BSE Oil & Gas Index (1.6 percent), BSE Teck Index (1.6 percent), BSE Auto Index (1.3 percent), BSE PSU Index (1.2 percent), BSE Consumer Durables Index (1.1 percent), BSE 100 Index (1.1 percent), BSE Sensex Index (1.1 percent), BSE 200 Index (1.1 percent), BSE 500 Index (1.1 percent), BSE Small Cap Index (1 percent), BSE FMCG Index (0.8 percent), BSE Healthcare Index (0.6 percent).At NSE, among all the indices, daily volatility of CNX IT Index was highest at 1.8 percent followed by Bank Nifty Index (1.7 percent), Nifty Mid-cap 50 Index (1.4 percent), S&P CNX Defty Index (1.4 percent), CNX Nifty Junior Index (1.2 percent), CNX Mid-cap Index (1.1 percent), S&P CNX Nifty Index (1.1 percent), CNX 100 Index (1.1 percent), S&P CNX 500 Index (1.1 percent).

At the end of January 2012, all BSE indices closed positive compared to the end of the previous month. Among BSE indices, BSE Bankex Index rose highest by 24.4 percent over its previous month’s closing value followed by BSE Metal Index (23.7 percent), BSE Capital Goods Index (22.3 percent), BSE Small Cap Index (16.5 percent), BSE PSU Index (15.6 percent), BSE Auto Index (13.5 percent), BSE 200 Index (13.3 percent), BSE 500 Index (13.3 percent), BSE 100 Index (13.1 percent), BSE Oil & Gas Index (12.9 percent), BSE Consumer Durables Index (11.8 percent), BSE Sensex Index (11.2 percent), BSE Healthcare Index (7.9 percent), BSE Teck Index (2.9 percent), BSE FMCG Index (1 percent).At NSE too, all NSE indices closed positive in January 2012, compared to the end of the previous month. Among them, Bank Nifty Index rose highest by 24.5 percent over its previous month’s closing value followed by S&P CNX Defty Index (21.4 percent), Nifty Mid-cap 50 Index (20.3 percent), CNX Nifty Junior Index (17.8 percent), CNX Mid-cap Index (16.2 percent), S&P CNX

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III.TrendsinDepositoryAccounts

The total number of investor accounts was 119.1 lakh at NSDL and 78.6 lakh at CDSL at the end of January 2012. The number of investor accounts in January 2012 increased by 0.5 percent at NSDL and 0.2 percent at CDSL over the previous month.

A comparison with corresponding period of previous year shows, there was an increase in the number of investor accounts to the extent of 4.3 percent at NSDL and 6 percent at CDSL (DetailsinAnnex–Table51).

IV.TrendsinDerivativesSegment

A.EquityDerivativesatNSEThe monthly total turnover in equity derivative market at NSE decreased by 18.7 percent from ` 27,68,863 crore in December 2011 to ` 22,51,487 crore in January 2012. The monthly turnover of index futures also decreased by 18.4 percent from ` 3,07,198 crore in December 2011 to ̀ 2,50,738 crore in January 2012. However, the monthly turnover of stock futures increased by 25.3 percent from ` 2,79,921 crore in December 2011 to ` 3,50,848 crore in January 2012.Further, the monthly turnover of put options on index decreased by 19.8 percent from ` 9,76,324 crore in December 2011 to ` 7,83,058 crore in January 2012. The monthly turnover of call options on index also decreased by 32.9 percent from ` 11,32,427 crore in December 2011 to ` 7,59,484 crore in January 2012. The monthly turnover of put options on stock increased by 39.6

percent from `26,188 crore in December 2011 to ` 36,554 crore in January 2012. The monthly turnover of call options on stock also increased by 51.3 percent from ` 46,806 crore in December 2011 to ` 70,805 crore in January 2012.

The open interest in value terms in equity derivative segment increased by 34.8 percent from ` 79,867 crore as on December 30, 2011 to ` 1,07,672 crore as on January 31, 2012. The open interest in value terms in equity derivative segment for Index Futures, Stock Futures, Put Options on Index, Call Options on Index, Put Options on Stock and Call Options on Stock at the end of January 2012 stood at ` 16,220 crore, ` 28,671 crore, ` 32,801 crore, ` 25,479 crore, ` 1,700 crore and ` 2,801 crore respectively, with a corresponding growth rates of 34.4 percent, 24.8 percent, 49.7 percent, 23.9 percent, 100 percent and 85.6 percent as compared to December 30, 2011.

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

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Table4:TrendsinEquityDerivativesMarket

Particular Jan-12 Dec-11 PercentageChangeOverMonth

1 2 3 4A.Turnover(` crore)(i) Index Futures 2,50,738 3,07,198 -18.4(ii) Options on Index Put 7,83,058 9,76,324 -19.8 Call 7,59,484 11,32,427 -32.9(iii) Stock Futures 3,50,848 2,79,921 25.3(iv) Options on Stock Put 36,554 26,188 39.6 Call 70,805 46,806 51.3Total 22,51,487 27,68,863 -18.7B.No.ofContracts(i) Index Futures 1,08,56,475 1,38,86,601 -21.8(ii) Options on Index Put 3,26,19,699 4,16,06,078 -21.6 Call 2,98,04,342 4,52,73,935 -34.2(iii) Stock Futures 1,39,58,030 1,27,55,993 9.4(iv) Options on Stock Put 14,79,438 11,93,943 23.9 Call 26,78,358 20,31,464 31.8Total 9,13,96,342 11,67,48,014 -21.7C.OpenInterestintermsofValue(`crore)(i) Index Futures 16,220 12,067 34.4(ii) Options on Index Put 32,801 21,909 49.7 Call 25,479 20,559 23.9(iii) Stock Futures 28,671 22,972 24.8(iv) Options on Stock Put 1,700 850 100.0 Call 2,801 1,509 85.6Total 1,07,672 79,867 34.8D.OpenInterestintermsofNoofContracts(i) Index Futures 6,59,119 5,59,818 17.7(ii) Options on Index Put 12,63,181 9,49,074 33.1 Call 9,80,757 8,90,113 10.2(iii) Stock Futures 10,54,809 10,29,721 2.4(iv) Options on Stock Put 62,888 37,262 68.8 Call 1,03,401 65,996 56.7Total 41,24,155 35,31,984 16.8

Source:NSE.

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B.CurrencyDerivativesatNSE,MCX-SXandUSE

During January 2012, the monthly turnover of currency derivatives at NSE increased by 8.3 percent to ` 3,59,481 crore as compared to ` 3,31,805 crore in December 2011. However, at MCX-SX, the monthly turnover of currency futures decreased by 7.1 percent to ̀ 2,45,250 crore

in January 2012 from ̀ 2,64,005 crore in December 2011. At the end of January 2012, the turnover of currency derivatives at USE stood at ` 6,609 crore as compared to ` 12,580 crore in December 2011, indicating a decrease of 47.5 percent. (DetailsinAnnex–Table32,33and34).

Figure6:TrendsofCurrencyDerivativesatNSE,MCX-SXandUSE(` crore)

Trading in Interest Rate Futures (IRF) contracts on 91 Day GOI T-Bill was introduced at NSE on July 4, 2011. January 2012, like last two

months, did not see any trading activity in IRFs on currency derivative segment of NSE (DetailsinAnnex-Table39).

C.InterestRateDerivativesatNSE

Figure7:TrendsintheInterestRatesFuturesatNSE(` crore)

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During January 2012, there were 574 trades with a value of ` 3,407 crore reported at BSE as compared to 684 trades with a value of ` 6,233 crore in December 2011. At NSE, 1,600 trades were reported in January 2012 with a trading value of ` 19,152 crore as compared to 888 trades

with a value of ` 17,365 crore in December 2011. Further, 2,780 trades with a value of ` 28,936 crore were reported to FIMMDA in January 2012 as against 3,323 trades with a value of ` 39,468 crore in December 2011 (Details in Annex –Table31).

V.InvestmentinCorporateDebtMarket

Figure8:TrendsofReportedTurnoverofCorporateBonds(` crore)

VI.TrendsofInstitutionalInvestors

A. TrendsinMutualFunds

During January 2012, mutual funds invested ` 7,582 crore in the secondary market as compared to investment of ` 51,559 crore in December 2011. During January 2012, mutual funds net sold

` 1,858 crore in equity while invested ` 9,441 crore in debt. Last month, they had invested ` 580 crore in equity and ` 50,979 crore in debt. (DetailsinAnnex–Table48)

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

B. TrendsinForeignInstitutionalInvestors

There was a net inflow of ̀ 26,329 crore in January 2012 by Foreign Institutional Investors (FIIs) compared to ` 21,873 crore inflow in December 2011. FIIs invested ` 10,358 crore in equity in January 2012 as compared to ` 98 crore invested in December 2011. In addition, FIIs invested ` 15,971 crore in debt market in January 2012 as compared

to ` 21,775 crore invested in December 2011.

The asset under custody of FIIs at the end of January 2012 stands at ` 10,43,130 crore, out of which the value of participatory notes including PNs on derivatives is ` 1,14,092 crore, constituting 15.1 percent of the total asset under custody of FIIs. (DetailsinAnnex–Table42&Table44)

Figure10:TrendsinFIIsInvestment(` crore)

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VII.TrendsinPortfolioManagementServices

Total AUM of Portfolio Management Services industry, excluding the AUM under advisory services, has increased by 16.4 percent from ` 3,34,248 crore in December 2011 to ` 3,88,934 crore in January 2012. Within Asset Under Management of Portfolio Management Services, AUM under discretionary services constitutes the highest share in the AUM with ` 3,72,220 crore in January 2012 compared to ` 3,18,433 crore in

December 2011. AUM under non-discretionary services stands at ` 16,714 crore in January 2012 against ` 15,815 crore in December 2011.

In terms of number of clients, discretionary services category ranks first with total of 68,543 clients, out of 82,708 clients in PMS industry, followed by advisory services with 9,255 clients and non-discretionary category with 4,910 clients (DetailsinAnnex–Table49).

VIII.TrendsinSubstantialAcquisitionofSharesandTakeovers

In January 2012, 5 public offers with total value of ` 401 crore were made to public as against the same number of public offers totaling ` 23 crore in the last month. Out of those five public offers, three public offers worth ` 182 crore were made to take over the control of management, while two others worth ` 219 crore were made to

consolidate promoters holding in the company.

Further, during January 2012 total of 7 issues amounting to ̀ 109 crore received an “Automatic Exemption” from open offer under SEBI takeover regulations, against 23 issues amounting to ` 9 crore in December 2011 (DetailsinAnnex–Table50).

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IX.InternationalMarketsComparison

Table 5:AverageDailyReturn,Volatility andMonthEndPERatio of International IndicesduringJanuary2012

Country Index Return Volatility PERatio1 2 3 4 5

DevelopedMarketsAustralia All Ordinaries 0.3 0.8 14.8France CAC 40 0.2 1.2 9.7Germany Dax 0.4 1.1 10.7Hong Kong Hang Seng 0.6 1.2 9.2Japan Nikkei 225 0.2 0.9 26.0Singapore Straits Times 0.5 1.0 8.4UK FTSE 100 0.1 0.9 10.3USA Dow Jones Indus. Avg. 0.2 0.5 13.0USA Nasdaq Composite 0.4 0.6 22.6EmergingMarketsIndia Sensex 30 0.5 1.1 17.7India S&P CNX Nifty 0.5 1.1 18.5Argentina Indice Bolsa General 0.4 1.4 14.7Brazil Bovespa 0.5 0.9 10.3Chile Stock Market Select 0.1 0.4 20.8China Shanghai SE Composite 0.3 1.8 12.0Colombia IGBC General 0.4 0.9 16.2Egypt Hermes 1.0 1.5 16.3Hungary Budapest Stock Exchange 0.5 1.8 8.8Indonesia Jakatra Composite 0.2 0.8 17.5Malaysia FTSE Bursa Malaysia KLCI 0.0 0.5 16.7Mexico Bolsa 0.0 0.9 18.6Pakistan Karachi 30 0.4 1.2 6.4Russia Russian Traded 0.7 1.6 5.3South Korea Kospi Index 0.4 1.1 21.4South Africa FTSE/JSE Africa All Share 0.3 0.8 12.2Taiwan Taiwan Taiex 0.4 1.1 17.3Thailand Stock Exchange of Thai 0.3 0.7 14.1Turkey ISE National 100 0.5 1.5 12.2

Source:Bloomberg.

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During January 2012, the daily volatility for China’s Shanghai SE Composite Index (1.8 percent ) and Hungary’s Budapest Stock Exchange Index (1.8 percent) was the highest among the countries under review followed by Russia’s Russian Traded Index (1.6 percent), Turkey’s ISE National 100 Index (1.5 percent), Egypt’s Hermes Index (1.5 percent), Argentina’s Indice Bolsa General Index (1.4 percent), Hong Kong’s Hang Seng Index (1.2 percent), France’s CAC 40 Index (1.2 percent), Pakistan’s Karachi 30 Index (1.2 percent), India’s S&P CNX Nifty Index (1.1 percent), Germany’s Dax Index (1.1 percent), India’s Sensex 30 Index (1.1 percent), Taiwan’s Taiwan Taiex Index (1.1 percent), South Korea’s Kospi Index Index (1.1 percent), Singapore’s Straits Times Index (1 percent), Colombia’s IGBC

General Index (0.9 percent), Brazil’s Bovespa Index (0.9 percent), Mexico’s Bolsa Index (0.9 percent), Japan’s Nikkei 225 Index (0.9 percent), UK’s FTSE 100 Index (0.9 percent), Australia’s All Ordinaries Index (0.8 percent), Indonesia’s Jakatra Composite Index (0.8 percent), South Africa’s FTSE/JSE Africa All Share Index (0.8 percent), Thailand’s Stock Exchange of Thai Index (0.7 percent), USA’s Nasdaq Composite Index (0.6 percent), USA’s Dow Jones Indus. Avg. Index (0.5 percent), Malaysia’s FTSE Bursa Malaysia KLCI Index (0.5 percent), Chile’s Stock Market Select Index showed the lowest volatility at 0.4 percent during the same period

The Average daily return and PE Ratio for January 2012 are given in Table5.

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a. GeNeraL

1. Toll-freeHelplineServiceforInvestors

Securities and Exchange Board of India (SEBI) has launched a toll free helpline service number 1800 22 7575 for investors on December 30, 2011. The service will be available to investors from all over India and will be in 14 languages. At present the available languages are English, Hindi, Marathi, Gujarati, Tamil, Bengali, Malayalam, Telugu, Urdu, Oriya and Punjabi. The service in Kannada, Assamese and Kashmiri will be commenced shortly. The toll free helpline service will be available on all working days during Monday to Friday from 9:30 a.m. to 5:30 p.m.

In the initial phase, the following services will be available to the investors –

Guidancepertainingto–

• Statusofcompanies–whetherunlisted,sick,delisted, liquidated /wound up etc.

• Matterspertaining tootherRegulators thatare not under SEBI purview

• Howtolodgeacomplaint

• Againstwhomtolodgeacomplaint

• Complaintstatus

• Howtoopenademat/clientaccountetc.

Assistanceindifferentproceduresviz.,

• Transfer

• Transmissionofshares

• IPOetc

The helpline service does not offer any legal opinion or investment advice to the investors.Ref:PRNo.1/2012datedJanuary02,2012.

2. SEBIBoardMeeting

The SEBI Board met on 3rd January and took the following decisions:

1. Manner of increasing minimum publicshareholding to comply with SecuritiesContractsRegulation(Rules),1957

The following additional methods viz. Institutional Placement Programme (IPP) and Offer for Sale of Shares through the stock exchange for the purpose of compliance with SCRR requirements are being introduced. The broad features of the same are as under:

A. InstitutionalPlacementProgramme(IPP):

i. This method can be used only for the purpose of complying with minimum public shareholding requirements under SCRR, either by way of fresh issue of capital or dilution by the promoters through an offer for sale. Using this method, public shareholding can be increased by 10% or such lesser percentage as is required to comply with the minimum public shareholding requirement.

ii. There would be simultaneous filing of red herring prospectus / prospectus with SEBI,

PRESSRELEASES

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Registrar of Companies and Stock Exchanges.

iii. Offer would be made only to Qualified Institutional Buyers (QIBs). There would be a reservation of minimum 25% to mutual funds and insurance companies.

iv. Issuer shall announce an indicative floor price or price band atleast one day prior to the opening of the offer.

v. The aggregate demand schedule shall be displayed by stock exchanges.

vi. Issuers shall endeavor to maximize the number of allottees in order to ensure wider distribution of shares. There shall be atleast 10 allottees in every IPP issuance. No single investor shall receive allotment for more than 25% of the offer size.

vii. The allotment of shares may be made on price priority, proportionate or on pre – specified criteria which has to be disclosed in advance in the prospectus and cannot be changed subsequently.

B Offer for sale of shares through stockexchanges:

i. The stock exchange would offer a separate window for the purpose of such sales. The duration of this window would co – exist with the normal trading hours.

ii. The offer shall be for atleast 1% of the paid-up capital of the company, subject to a minimum of Rs. 25 crores.

iii. Only the promoter/ promoter group of companies which are active /eligible for trading would be permitted to offer their shares for sale. Promoter/ promoter group of the company would not be permitted to bid for the shares.

iv. Every bid/buy order would be required to be backed by 100% upfront cash margin. The settlement shall be through exchange clearing mechanism.

v. Allotment would be done either on price priority or clearing price basis proportionately and would be overseen by the exchanges.

Apart from use for compliance with minimum shareholding requirements, this method can be used by promoters of top 100 companies (based on average market capitalization) for sale of their stake.

2. Amendment to SEBI (Buyback ofSecurities)Regulations,1998

As a part of constant endeavor to align regulatory requirements with the principle of equitable treatment to all shareholders as well as to enhance efficiency of the buyback process, the following changes in the tender offer method of buyback are being made:

i) Procedure for acceptance of shares inbuybackthroughtenderoffer

The company shall announce ratio of buyback as is done in the case of rights issues and fix a record date for determination of entitlements

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as per shareholding on record date. While the shareholders are free to tender over and above their entitlement, acceptance of shares shall first be based on entitlement of each shareholder and if any shares are still left to be bought back, acceptance of additional shares tendered over and above the entitlement shall be in proportion to the excess shares tendered by the shareholder.

ii) “RecordDATe”inlieuofspecifieddate

The company shall fix “record date” for the purpose of deciding entitlement for buyback, as per the practice followed for other corporate actions as laid down in listing agreement.

iii) ReviewofrequirementofissuingPublicNoticeandPublicAnnouncement

The Public Announcement shall be published within two working days from the date of Board or Shareholders resolution, as the case may be.

iv) Rationalization of timelines in buybackthroughtenderoffer

The timelines for various activities involved in the buyback process have been revised which shall result in substantial reduction of time taken for completion of buyback.Ref:PRNo.2/2012datedJanuary03,2012.

3. Rejection of Request for Exemption ofM/s. Futuristics Garments Private Limited(Acquirer) for the Proposed Acquisition ofSharesofM/s.SuryaPharmaceuticalsLimited(TargetCompany)

SEBI has passed an order dated January 9, 2012, rejecting the request for exemption to the acquirer from the applicability of Regulation 10, 11, 12 of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997, in respect of the proposed increase in shareholding of the promoters from 38.11% to 45.50%, pursuant to the conversion of 27,50,000 warrants issued on preferential basis.

The application seeking exemption was forwarded by SEBI to the Takeover Panel. The Panel did not consider grant of exemption in the interest of public shareholders.Ref:PRNo.5/2012datedJanuary12,2012.

4. GrantofExemptiontoMr.BijayKumarGarodia ,Mr.RameshKumar Sarawagi andMr. Shankar Lall Ajitsaria (Acquirers) forthe Proposed Acquisition of Shares of M/s.KharikatiaTea&IndustriesLimited (TargetCompany)

SEBI has passed an order dated January 19, 2012, granting exemption to the acquirers from making a public announcement as required under regulation 13, 14 and 15 and from the obligation to file the letter of offer under regulation 16 of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, in respect of the proposed increase in shareholding of the promoters from nil to 74.31%, pursuant to the acquisition from the existing promoters of the Target Company.Ref:PRNo.9/2012datedJanuary23,2012.

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5. GrantofExemptiontoMr.VinodKumarAgrawal, Mr. Subash Chand Agrawal, M/s.RNCommotradePrivateLimited andM/s.Singhal General Traders Private Limited(Acquirers) for the Proposed Acquisitionof Shares of M/s. MSD Properties Limited(TargetCompany)

SEBI has passed an order dated January 19, 2012, granting exemption to the acquirers from making a public announcement as required under regulation 3(1) read with regulations 13, 14 and 15 and from the obligation to file the letter of offer under regulation 16(1) of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011, in respect of the proposed increase in shareholding of the promoters from 18.94% to 52.78%, pursuant to the acquisition from public shareholders.Ref:PRNo.10/2012datedJanuary23,2012.

6. First Meeting of SEBI’s InternationalAdvisoryBoard

Securities and Exchange Board of India (SEBI)’s International Advisory Board (IAB) held its first meeting in New Delhi on 27th January.

SEBI constituted the IAB in September, 2011. The role of the IAB will be to guide SEBI and, in doing so, bring in the global experiences and emerging developments and challenges. The IAB will meet twice in a year.

At its first meeting, the IAB deliberated on several important issues which are currently relevant for the Indian securities market:

i. The IAB took note of the initiatives taken by SEBI for enhancing the retail participation and for increasing penetration beyond top-10 cities and discussed the issues and challenges faced by SEBI in this regard. The IAB observed that there is a need to widen the reach of the mutual fund industry in the country, both horizontally and vertically. The IAB emphasized that in order to enhance the participation of households, the mutual fund industry has to educate the investors of the attractiveness of mutual funds in terms of returns and cost effectiveness, compared to other financial products. The IAB stressed the need for the mutual funds to offer life cycle products along with plain vanilla products. The IAB underscored the need to have in place an effective framework for regulation of distributors. The IAB also suggested that SEBI may consider encouraging competition in the industry while insisting on transparency and reducing the dependence on the existing channels of distribution by enhancing the distribution of mutual fund products through alternative channels, like internet.

ii. The IAB was apprised of the situation prevailing in the Indian primary market. The IAB emphasized the need to have a listing and trading platform for smaller companies, to address the conflicts of interests at the level of the market intermediaries and to make the enforcement actions more effective. The IAB advised SEBI to explore the provision of green shoe option for price stabilization and independent research coverage of listed companies for a few years post listing through a common agency.

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iii. The IAB appreciated the initiatives of SEBI to have uniform KYC norms in the Indian securities market. After taking note of the practices in some of the Financial Action Task Force (FATF) compliant countries, the IAB advised SEBI to explore risk-based customer due diligence processes without granting any sort of exemptions to any category of investors.

iv. The IAB took note of the risk management mechanisms in place in the equity and equity derivative segments in India. The IAB advised SEBI on the need to strengthen the legal framework to strengthen and better protect the collaterals of the clients posted with the brokers. The IAB also deliberated on the global developments related to algorithmic / high frequency trades and co-location and the resultant challenges to risk management. The IAB advised SEBI to have consistently high regulatory standards to cope with the increasing technological advancements and to strengthen the pre-trade risk management mechanism. As a step towards inter-operability of central counterparties, the IAB advised SEBI to prescribe common standards/ protocol for market participants.

v. The IAB also looked into the means to canalize the domestic savings into the securities markets so as to help meet the growth objectives. Among the measures recommended by the IAB are the development of a vibrant corporate bonds market and exploring the introduction of securitized debt instruments and real estate investment trusts, with appropriate risk management.

The current Members of the IAB, in addition to the Chairman, SEBI are Prof. Viral Acharya, Ms. Jane Diplock, Prof. Mark Maletz, Prof. Maureen O’Hara, Prof. Arvind Panagariya and Dr. Andrew Sheng (Arranged alphabetically by the surnames).

Prof. Acharya is the C.V. Starr Professor of Economics in the Department of Finance at New York University Stern School of Business and a Member of Advisory Scientific Committee of European Systemic Risk Board. Ms. Diplock, presently an Independent Director of Singapore Exchange Limited, is the former Chairman of both the Executive Committee of the International Organization of Securities Commissions (IOSCO) and of the New Zealand Securities Commission.

Prof. Maletz is a Senior Fellow at Harvard Business School and an internationally recognized thought leader in the areas of leadership development and organization transformation. Prof. O’Hara, the Robert W. Purcell Professor of Finance at the Johnson Graduate School of Management, Cornell University, is the Chairman of the Economic Advisory Board of the FINRA and a Member of the CFTC-SEC Task Force investigating the ‘flash crash’.

Prof. Panagariya is the Jagdish Bhagwati Professor of Indian Political Economy at Columbia University and the former Chief Economist of the Asian Development Bank. Dr. Sheng, the former Chairman of the Securities and Futures Commission of Hong Kong, is presently the

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Chief Advisor to the China Banking Regulatory Commission and a Board Member of the Qatar Financial Centre Regulatory Authority.

Mr. Prashant Saran, Mr. Rajeev Kumar Agarwal, Whole Time Members of the SEBI Board, Mr. V K Jairath, Member of the SEBI Board, and all the Executive Directors of SEBI participated in the First Meeting of the IAB.

During the intermediate breaks, the Members of the IAB interacted with Mr. D K Mittal, Secretary, Department of Financial Services, Ministry of Finance and Dr. Kaushik Basu, Chief Economic Advisor, Department of Economic Affairs, Ministry of Finance.Ref:PRNo.14/2012datedJanuary27,2012.

7. SEBIBoardMeeting

The SEBI Board met in New Delhi on 28th January and took the following decisions:

i. Reservation to Holders of ConvertibleDebtSecuritiesinRights/BonusIssues

On the issue of reservation to convertible debt holders in rights/bonus issues, it has been decided to clarify that reservation shall be available only to compulsorily convertible debt holders, since conversion in such cases is not at the option of the holders of these instruments.

ii. WaiverofCertainRequirementsRelatingto Preferential Allotment to InsuranceCompaniesandMutualFunds

It has been decided to exempt Insurance Companies

and Mutual Funds which are broad based investment vehicles representing the interests of the public at large from the provisions of SEBI (Issue of Capital and Disclosure Requirements) Regulations relating to sale and lock-in of their pre-preferential shareholding in the issuer company. Presently, SEBI (ICDR) Regulations preclude companies from issuing preferential allotment to entities who have sold any of their holdings during the six month period prior to relevant date. Further, allottees in preferential allotment are required to lock-in their entire pre-preferential holdings for a period of six months from date of preferential allotment. The lock-in on shares allotted in preferential issue per se, however, would remain unchanged.

iii. Amendment to SEBI (Mutual Fund)Regulations,1996

a. Amendment relating to Advertisement Code

• In order to provide flexibility to Asset Management Companies (AMCs) in issuing true and fair advertisements with meaningful disclosure to investors, the Sixth Schedule of SEBI (Mutual Fund) Regulations, 1996 and various circulars issued from time to time on Advertisement Code shall be amended and made principle based as far as possible.

• AMCs shall be responsible for the accuracy, truthfulness, fairness of the advertisement.

• The definition of advertisement shall be broadened to include all forms of

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communication that may influence investment decisions of any investor.

b. Amendment relating to Investment Valuation Norms

In order to provide for fair valuation of securities/assets of Mutual Fund schemes, the following proposed changes in the SEBI (Mutual Fund) Regulations, 1996 are approved by the Board:

• AMC shall ensure fair treatment to all investors i.e. to existing investors as well as to investors seeking to purchase or redeem units of Mutual Funds at all point of time in all schemes.

• In case debt and money market securities are not traded on a particular valuation day then valuation through amortization basis shall be restricted to securities having residual maturity of upto 60 days (currently 91 days), provided such valuation shall be reflective of the realizable value/ fair value of the securities.

iv. AmendmenttoSEBI(PortfolioManagers)Regulations,1993

The Board decided to amend the SEBI (Portfolio Managers) Regulations, 1993 to give effect, inter alia, to the following:

• To enhance the minimum investment amount per client from Rs.5 lakh to Rs.25 lakh

• To ensure segregation of holdings in individual demat accounts in respect of unlisted securities also

The proposed amendment would be applicable on prospective basis for new clients and for fresh investments by existing clients.Ref:PRNo.15/2012datedJanuary28,2012.

b. OrDer

1. Order intheMatterofM/s.SoundcraftIndustriesLtd.,M/s.KolarBiotechLtd.andM/s.AdamComsofLtd.

SEBI has passed an order dated January 02, 2012 in the matter of M/s. Soundcraft Industries Ltd., M/s. Kolar Biotech Ltd. and M/s. Adam Comsof Ltd. revoking the interim directions issued vide ad interim ex-parte order dated September 30, 2004 and confirmatory order dated February 18, 2005 against M/s. Reshma Plastics Pvt. Ltd., M/s. RVSK Information Technology Ltd., M/s. Glorious Investrade P. Ltd., Sh. Pradeep Rathi, Sh. Indramal S. Jain, Sh. Nazir N. Desai, Sh. Maqbool A.G. Matwankar, Sh. Kiran Bansal, M/s. Steel Traders P Ltd., M/s. Shree Satyanand Investments (Shyam Sunder Jhunjhunwala), M/s. Subhlaxmi (Ramkishore Jhujhunwala), M/s. Suvik Finvest & Cons P. Ltd., Sh. Pushpa Mahadik, Sh. Prithvijit Debnath, Sh. Anil Bhaskar Tambe, Sh. Jayendra Pragji Thakkar, Sh Nirmal N Kotecha and M/s. Manorama Trading Ltd.

The order further states that the restrictions imposed by SEBI vide its orders dated September 30, 2004 and February 18, 2005 against the other entities covered therein, shall continue.Ref:PRNo.3/2012datedJanuary10,2012.

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2. Order in the Matter of M/s. EmpowerIndustriesIndiaLtd.

SEBI has passed an order dated January 06, 2012 restraining M/s. Empower Industries India Ltd. from accessing the securities market and prohibiting it from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of 6 monthsRef:PRNo.4/2012datedJanuary10,2012.

3. Order in Respect of M/s. KhandwalaSecurities Limited in the Matter of M/s.KopranLimited

SEBI has passed an order dated January 13, 2012 suspending the certificate of registration of the stock broker, M/s. Khandwala Securities Limited for a period of one month.Ref:PRNo.6/2012datedJanuary20,2012.

4. Order in Respect of M/s. JayantilalKhandwala & Sons Private Limited in theMatterofM/s.KopranLimited

SEBI has passed an order dated January 13, 2012 suspending the certificate of registration of the stock broker, M/s. Jayantilal Khandwala & Sons Private Limited for a period of one month.Ref:PRNo.7/2012datedJanuary20,2012.

5. OrderinRespectofM/s.VSBInvestmentsP.Ltd.intheMatterofTradingbyConnectedEntities

SEBI has passed an order dated January 18, 2012 in the matter of trading by connected entities, revoking interim directions issued vide ad interim ex-parte order dated June 04, 2009 and confirmatory order

dated January 25, 2010 against VSB Investments P. Ltd. and also disposing of the show cause notice without any further directions.Ref:PRNo.8/2012datedJanuary20,2012.

6. Order in Respect of M/s. NeptuneSecurities Pvt. Ltd. in the Matter of M/s.PriyansSareeIndustriesLtd.

SEBI has passed an order dated January 17, 2012, in the matter of M/s. Priyans Saree Industries Ltd., warning the stock broker M/s. Neptune Securities Pvt. Ltd. to be more careful and cautious in the conduct of its business and to adhere to and comply with all the statutory provisions while carrying out its activities in the securities market.Ref:PRNo.11/2012datedJanuary27,2012.

7. OrderinRespectofM/s.SanchayFincomLimited in the Matter of M/s. T. SpiritualWorldLimited

SEBI has passed an order dated January 18, 2012, in the matter of M/s. T. Spiritual World Limited prohibiting M/s. Sanchay Fincom Limited, member, Bombay Stock Exchange from taking up new clients for a period of one month.Ref:PRNo.12/2012datedJanuary27,2012.

8. OrderinRespectofSh.AdolfPintointheMatterofM/s.T.SpiritualWorldLimited

SEBI has passed an order dated January 18, 2012, in the matter of M/s. T. Spiritual World Limited prohibiting Sh. Adolf Pinto, member, Bombay Stock Exchange from taking up new clients for a period of one month.Ref:PRNo.13/2012datedJanuary27,2012.

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I. Changes InRe-InvestmentPeriod of FIIDebtLimit

1. In reference to para 2 of SEBI circular Cir No. IMD/FII&C/30/2008 dated July 04, 2008 and para 6 of circular CIR/IMD/FIIC/18/2010 dated November 26, 2010, relating to facility provided for FIIs for re-investment period for debt investments.

WithdrawaloftheFacilityofRe-Investment

2. It has been decided that henceforth re-investment period shall not be allowed for all new allocations of debt limit to FIIs/sub-accounts. Thus, limits acquired in the bidding sessions henceforth shall expire/lapse on either sale or redemption at maturity of the debt investments. These limits then shall again be allocated in subsequent bidding processes.

Treatment for Entities that currently HoldLimits/Investments

3. As on the date of the issuance of this circular those FIIs and sub-accounts that already have acquired limits and /or invested in debt, these existing limits shall expire in the following manner:-

a. Facility of re-investment shall continue until any one of the following thresholds is breached

i. Total sales made from the existing debt portfolio (current debt investment and

the un-utilized limit currently with the entity, if any) is twice the size of its debt portfolio as on the date of this circular

or

ii. expiry of two years from the date of this circular i.e. January 02, 2014

b. Re-investment period for the above purposes shall continue to be as per para 6 of circular CIR/IMD/FIIC/18 /2010 dated November 26, 2010.

4. After the threshold as mentioned above is breached, in case of any sale or redemption of the investments, the limit shall expire/lapse. These limits then shall again be allocated in subsequent bidding processes.

5. It is clarified here that the FII/sub-account is not required to sell its investments in debt instrument after it reaches the threshold mentioned above, and thus it can continue to retain the debt investments beyond the threshold, however, the sale or redemption thereon will not be eligible for re-investment beyond the thresholds above.

Investments in Long Term Infra DebtCategory

NewAllocations

6. For all new allocations of debt limit under this category, if a FII decides to sell their holdings during lock-in period to another

CIrCuLar

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FII; the limit will automatically transfer to purchasing entity. However, if a FII decides to sell/redeem their holdings after lock-in period; same limit shall expire/lapse. These limits then shall again be allocated in subsequent bidding processes.

Treatment for Entities currently holdingInvestments:

7. Similar facility as provided in para 3 & 4 above shall also be applicable for all investments made in the long term infra debt category (with one year lock in and one year residual maturity clause) where lock in provisions are in force.

a. During the lock-in period, if a FII/sub-account decides to sells its investments in the special trading window as provided by the exchanges in terms of SEBI circular dated March 31, 2011, selling FII/ sub-account may exercise its option to sell its investments along with the limits or may choose to sell only the investments and retain the limits.

b. In case the selling entity chooses to retain the limit, then it shall be subject to para 3 of this circular.

c. If selling entity chooses to transfer the limit, then the purchasing entity shall be subject to the para 3 of this circular.

8. Entities can avail of the benefit of Para 7 (a) if it is sells the investments to another FII/sub-accounts after lock-in period; however this benefit can be availed only upto January 02, 2014.

9. Upto January 02, 2014, if the FII/Subaccount redeems the investments at the maturity of the instrument, or sells to a domestic participant after the lock-in period, it can avail benefit of para 3 of this circular.

10. FIIs are advised to evolve suitable mechanism in consultation with their custodian to give effect to the provisions of this circular.

Source: SEBI/IMD/FIIC/1/2012 dated January 3, 2012.

II. DisclosureofTrackRecordofthePublicIssuesManagedbyMerchantBankers

1. SEBI regulations require that the offer document shall contain adequate disclosures so as to enable investors to take well informed investment decisions. Further, a merchant banker is required to exercise due diligence and satisfy himself about all the aspects of the issue including the veracity and adequacy of disclosures in the offer documents.

2. Therefore, it is necessary for investors to evaluate the post-issue performance of the issuer in terms of disclosures made in the offer documents. This will also enable them to understand the level of due diligence exercised by the merchant bankers.

3. In view of the above, it has now been decided in consultation with the merchant bankers that they shall disclose the track record of the performance of the public issues managed by them. The track record shall be disclosed for a period of three financial years from the

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date of listing for each public issue managed by the merchant banker. The format for disclosure of track record is given in the Annex to this circular.

4. The track record shall be disclosed on the website of the merchant banker and a reference to this effect shall be made in the offer documents of public issues managed in the future. In case more than one merchant banker is associated with a public issue, all merchant bankers who have signed the due diligence certificate, as disclosed in the offer document, shall disclose the track record.

5. The circular shall be applicable for the public issues listed from the date of this circular, with immediate effect. However, in case of past public issues managed during the last three years, the track record as specified in Clause 3 above shall be disclosed latest by March 31, 2012.

Source: SEBI /MIRSD/1/2012 dated January 10, 2012.

III. Investment by Qualified ForeignInvestors(QFI)inIndianEquityShares.

1. The Central Government, vide press release dated January 1, 2012 has announced its decision to allow QFIs to directly invest in Indian equity market in order to widen the class of investors, attract more foreign funds, reduce market volatility and to deepen the Indian capital market.

2. In order to facilitate the above and in consultation with the Government and RBI,

it has been decided that foreign investors (termed as Qualified Foreign Investors/ QFI) who meet prescribed Know Your Customer (KYC) requirements may invest in equity shares listed on the recognized stock exchanges and in equity shares offered to public in India. In order to enable this they will hold equity shares in a demat account opened with a SEBI registered qualified Depository Participant.

3. The QFI for the purpose shall have the same meaning as that provided in para 3.1 of SEBI circular Cir/IMD/DF/14/2011 dated August 09, 20111.

4. To become a qualified Depository Participant (hereinafter referred to as “DP”), a SEBI registered DP shall fulfill the following:4.1. DP shall have paid up capital of Rs. 50

crore or more;4.2. DP shall be either a clearing bank or

clearing member of any of the clearing corporations;

4.3. DP shall have appropriate arrangements for receipt and remittance of money with a designated Authorised Dealer (AD) Category – I bank;

4.4. DP shall demonstrate that it has systems and procedures to comply with the FATF Standards, Prevention of Money Laundering (PML) Act, Rules and SEBI circulars issued from time to time; and

4.5. DP shall obtain prior approval of SEBI before commencing the activities relating to opening of accounts of QFI.

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5. All DPs who have obtained approval of SEBI for undertaking activities relating to accepting investments by QFI in Mutual Fund schemes need not obtain separate approval from SEBI for commencing the activities relating to investments by QFI in equity shares.

6. Eligible transactions for QFI

6.1. The DP shall ensure that transactions of QFI are limited only to the following:

6.1.1. Purchase of equity shares in public issues, to be listed on recognised stock exchange(s).

6.1.2. Purchase of listed equity shares through SEBI registered stock brokers, on recognized stock exchanges in India.

6.1.3. Sale of equity shares which are held in their demat account through SEBI registered stock brokers.

6.1.4. Purchase of equity shares against rights issues.

6.1.5. Receipt of bonus shares or receipt of shares on stock split/ consolidation.

6.1.6. Receipt of equity shares due to amalgamation, demerger or such other corporate actions, subject to the investment limits.

6.1.7. Receipt of dividends.

6.1.8. Tender equity shares in open offer in accordance with SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

6.1.9. Tender equity shares in open offer in accordance with SEBI (Delisting of Equity Shares) Regulations, 2009.

6.1.10. Tender equity shares in case of buy-back by listed companies in accordance with SEBI (Buyback of Securities) Regulations, 1998.

7. Account opening and manner of operation by QFI

7.1. A QFI can open only one demat account with any one of the DPs and shall make purchase and sale of equity shares through that DP only. In case of jointly held demat accounts, each of the joint holders shall meet the requirements specified for QFI and each shall be deemed to be holding a demat account as a QFI. Depositories/ DP shall have adequate systems to ensure the compliance of the same and perform KYC due diligence for each of the joint holders. The DP shall carry necessary due diligence and obtain appropriate declarations and undertakings from QFI to ensure that no other demat account is held by any of the QFI as a QFI or in any other capacity such as NRI, before opening a demat account.

7.2. The DP shall ensure that the same set of ultimate/ end beneficial owner(s) are not allowed to open more than one demat account as QFI. For this purpose,

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the DP shall carry out necessary due diligence and obtain appropriate declarations and undertakings from QFI.

7.3. A QFI can open trading accounts with one or more SEBI registered stock brokers

7.4. The DP shall ensure that only QFI who meet the conditions stipulated in para 3.1 of SEBI circular Cir/IMD/DF/14/2011 dated August 9, 2011 are allowed to invest in equity shares. Additionally, the DP shall ensure that only those entities are allowed to open demat account as QFI whose ultimate/ end beneficial ownership is not resident in India. The DP shall carry out necessary due diligence for the same at the time of account opening. An express undertaking to this effect shall be obtained by DP from the QFI.

7.5. The entities having opaque structure(s) such that the details of ultimate/ end beneficiary are not accessible or where the beneficial owners are ring fenced from each other or where the beneficial owners are ring fenced with regard to enforcement shall not be allowed to open demat account as QFI. The DP shall perform appropriate due diligence at the time of account opening and ensure that such entities are not allowed to open demat account. An

express undertaking to this effect shall be obtained by DP from the QFI

7.6. In case of any direct/ indirect change in structure or beneficial ownership of the QFI, it shall bring the same to the notice of its DP, forthwith. The DP shall assess the eligibility of that QFI afresh, before allowing it to undertake any further transactions.

7.7. The QFI shall, as and when required by the Government, SEBI or any other regulatory agency in India, submit to that agency, as the case may be, any information, record or documents in relation to his activities as QFI. An express undertaking to this effect shall be obtained by DP from the QFI.

7.8. The QFI shall, in relation to his activities as QFI, at all the times, subject themselves to the extant Indian laws, rules, regulations, circulars etc. from time to time, An express undertaking to this effect shall be obtained by DP from the QFI.

7.9. The DP shall open a separate single rupee pool bank account with a designated AD Category-1 Bank, exclusively for the purpose of investments by QFI in equity shares in India.

7.10. The DP shall ensure that funds of each and every QFI in the rupee pool account are clearly segregated from each other at all times. Further, the

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DP shall maintain appropriate records including audit trails on an ongoing basis regarding such segregation.

7.11. The DP shall open a demat account for the QFI only after ensuring compliance with all the requirements as per PML Act, rules and regulations, FATF standards and SEBI circulars issued in this regard, from time to time and shall also ensure that QFI comply with all these requirements on an ongoing basis.

7.12. The DP shall ensure that every QFI transacts only through one designated overseas bank account and such overseas bank account which QFI has designated for the purpose is based in a country which is compliant with FATF standards and is a signatory to MMOU of IOSCO.

7.13. The DP shall capture, the details of the overseas bank account designated by the QFI and shall ensure that all inward bound investments are received from that overseas account and repatriation/ remittances of proceeds are also transferred into the same overseas account.

7.14. The DP shall require QFI to submit necessary information for the purpose of obtaining PAN. The DP may use the combined PAN cum KYC form as notified by CBDT for this purpose.

Each QFI shall obtain a separate and distinct PAN. The DP may take any additional information/ documents from QFI other than those mentioned in the common PAN cum KYC form to ensure compliance with PML rules and regulations, FATF standards and SEBI circulars issued from time to time.

7.15. The DP shall ensure that all the investor related documents/ records of QFI are available with the DP.

7.16. The DP shall ensure that equity shares held by QFI are free from all encumbrances including pledge or lien etc. at all times.

7.17. The DP shall, at all times, ensure compliance with laws, rules and regulations of the jurisdictions where the QFI are based.

7.18. The DP shall ensure that the interests of other clients of DP are not adversely affected in any manner due to transactions done on behalf of QFI.

7.19. In case of any penalty, pending litigations or proceedings, findings of inspections or investigations for which action may have been taken or is in the process of being taken by an overseas regulator against DP/ QFI, the DP shall notify such information forthwith, to the attention of SEBI, depositories and stock exchanges. The DP shall mandate the QFI to furnish the details of any

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such penalty, pending litigations or proceedings, findings of inspections or investigations to it on an ongoing basis.

7.20. The DP shall be responsible for the deduction of applicable tax at source on account of profits or gains or dividends or any other income accruing to or received by QFI before making any reinvestment/ repurchase or repatriation/ remittance to QFI, and remit and report the same to the relevant tax authorities.

7.21. In case a QFI desires to change the DP with whom he holds the demat account, he shall be allowed to operate a new demat account with another DP only after closure of the earlier demat account. At the time of opening a new demat account with a different DP, the QFI shall furnish the details regarding the existing demat account with the earlier DP and the details of the shareholdings in the earlier demat account. Simultaneously, the QFI shall issue transfer instructions to the earlier DP with a copy to the new DP. With regard to the funds of the QFI lying in the rupee pool account of the earlier DP, the same shall be remitted back to the designated overseas bank account of the concerned QFI. At any point of time, a QFI shall operate through only one demat account with a DP.

8. Investment restrictions and monitoring of investment limits for QFI:

8.1. The QFI shall transact in Indian equity shares only on the basis of taking and giving delivery of shares purchased or sold.

8.2. Each transaction by QFI shall be cleared and settled on gross basis.

8.3. QFI shall not issue offshore derivatives instruments/ participatory notes. A declaration and undertaking to this effect shall be obtained by DP from the QFI.

8.4. The DP shall provide on a daily basis, QFI wise, ISIN wise and company wise buy/ sell information and any other transaction or any related information to their respective depositories on the same day i.e the day on which the transaction was carried out, before the time stipulated by the depositories.

8.5. The stock exchanges shall provide the details of paid up equity capital of all the listed companies, ISIN wise, to the depositories once in six months, periodically and also provide information regarding change in paid up equity capital in any listed company, immediately.

8.6. The QFI and DP shall ensure that the total shareholding held by a QFI shall not exceed five percent of paid up equity capital of the company at any point of time. This investment limit shall be

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applicable to each class of equity shares having separate and distinct ISIN.

8.7. The depositories shall put in place appropriate systems and procedures to monitor the above limit by using PAN and/ or other unique identity number of the QFI.

8.8. The depositories shall administer and monitor, so as to ensure, that aggregate shareholding of all QFIs shall not exceed ten percent of the paid up equity capital of the company at any point of time, in respect of each equity share class having separate and distinct ISIN.

8.9. The depositories shall jointly publish/ disseminate the ISIN wise and company wise aggregate shareholding of QFIs to public, on daily basis.

8.10. The information regarding ISIN wise and company wise aggregate QFI shareholding shall also be provided by the depositories to the RBI in a manner and format as stipulated by the Reserve Bank of India from time to time.

8.11. When the aggregate shareholding of all the QFIs in a company reaches 8% of the equity paid up capital, the company’s name along with ISIN shall be published in caution list by the depositories and no fresh purchases shall be allowed without prior approval of the depositories. The same shall be informed by the depositories to the DPs

and recognized stock exchanges having nationwide terminals. The depositories shall also inform the DPs and such stock exchanges when any company is removed from the caution list.

8.12. For fresh purchases by QFI in equity shares of companies in the caution list, prior approval of the depositories shall be obtained. The QFI shall make such request for prior approval to the concerned depository through the DP specifying therein the name of the QFI, PAN and other unique identification number relating to that QFI, number of shares to be purchased and the ISIN, by way of any mode of communication as specified by the depositories in consultation with each other. The concerned depository shall provide the details of prior approval requests received by it to the other depository.

8.13. After market hours, the depository shall give prior approval to request for purchase of equity shares of companies in the caution list on a first-come-first-served basis in co-ordination with the other depository, based on time of receipt of the prior approval requests by the depositories,. The validity of the approval shall be for the next trading day only.

8.14. In case the aggregate shareholding of the QFI exceeds the limit of ten percent

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in respect of any ISIN, the depositories shall jointly notify the respective DPs regarding the breach along with the names of the QFI due to whom the limits have been breached. For this purpose, the stock exchanges shall provide the required information so as to enable the depositories to identify the transaction details of the QFI including the name of QFI, PAN and/ or other unique identification number relating to that QFI, purchase quantity and time or any other information as may be required by the depositories.

8.15. In case the aggregate shareholding of the QFIs exceeds the limit of ten percent for whatsoever reason, the QFI due to whom the limit is breached shall mandatorily divest excess holdings within three working days of such breach being notified by depositories to the DP. The DP shall obtain necessary authorization from the QFI at the time of account opening for such divestment of excess holdings.

8.16. The stock exchanges shall amend Clause 35 of the listing agreement on or before June 30, 2012, so as to incorporate another class of investor to disseminate QFI shareholding in equity shares.

8.17. The stock exchanges shall develop a separate segment for intra QFI transactions in the equity shares of

companies in the caution list, if they wish to buy without the prior approval of depositories. However, QFI who have obtained prior approval of the depositories as referred in para 8.11 and 8.12 above, may purchase equity shares in the normal segment of recognized stock exchanges.

8.18. The stock exchanges/ depositories/ DPs shall not levy any charges towards services relating to monitoring and administering of investment limits of QFI.

9. Processflow

9.1. Purchase9.1.1. The QFI shall place a purchase order

with the DP mentioning the name of the company and ISIN, number of equity shares, name of the stock broker and remit foreign inward remittances from the designated overseas bank account of QFI through normal banking channel in any permitted currency (freely convertible) directly to the single rupee pool bank account of the DP maintained with a designated AD category – I bank.

9.1.2. The DP in turn shall forward the purchase order to the SEBI registered stock broker with whom QFI has opened trading account and remits the money to the brokers account after receipt of funds from QFI and as per the instructions of QFI.

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9.1.3. If for any reasons, the QFI is not able to purchase equity shares within five working days of the inward remittance (including the date of receipt of foreign inward remittance through normal banking channels from the designated overseas bank account of the QFI into the single rupee pool bank account), the DP shall immediately remit the money back to the designated overseas bank account of the QFI.

9.1.4. The DP shall ensure that equity shares purchased on behalf of QFI are credited into the demat account of that QFI on the pay-out date.

9.1.5. In case of QFI’ participation in public issues, the QFI shall provide instruction to the DP to make application for public issue. The DP, after obtaining necessary instructions from the QFI and subject to availability of funds on account of that QFI in the rupee pool account, shall make application on behalf of such QFI and remit money to the issuer company.

9.2. Sale

9.2.1. On receipt of instruction from QFI containing name of the company and / or ISIN, number of equity shares and name of the stock broker, the DP shall place order for sale of equity shares only after verifying availability of such equity shares in demat account of that

QFI. Upon receipt of sale proceeds on account of sale of equity shares made on behalf of QFI, the same shall be retained in single rupee pool bank account of the DP for a period of maximum five working days.

9.2.2. The QFI can instruct the DP to make fresh purchase of equity shares out of sale proceeds on account of sale of equity shares provided that such purchase is made within five working days (including the date of receipt of the sale proceeds in the single rupee pooled bank account) of receipt of money in the pooled bank account. In case no purchase is made within said period, the money shall be remitted by the DPs to the designated bank overseas account of the QFI within five working days from the date of receipt of money in the pooled bank account.

9.3. Dividendandothercorporateactions

9.3.1. In case of dividend received on account of QFI, the DP shall remit the same to the designated bank overseas account of the QFI within five working days (including the date of credit to the single rupee pool account) from the date of receipt of money in the DP’s rupee pooled bank account, unless any fresh purchase of equity shares is made out of such dividend receipts

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9.3.2. In case of QFI participation in corporate actions such as buy back, delisting etc. wherein the pool account maintained with DP is credited with funds, such funds shall be remitted back to the designated bank overseas account of the QFI within five days of receipt of same, unless any fresh purchase of equity shares is made out of such funds.

10. The transactions of QFIs, for all purposes, shall be treated at par with that of Indian non institutional investors with regard to margins, voting rights, public issues etc.

11. The investment by the QFI in listed equity shares as mentioned herein above shall also be subject to the relevant and extant FEMA regulations and guidelines issued by the Reserve Bank of India under FEMA, 1999 from time to time.

Source: SEBI / IMD/FII&C/3/2012 dated January 13, 2012.

IV. Call Auction in Pre-open session forInitialPublicOffering(IPO)andOther

CategoryofScrips

1. SEBI, vide circular no. CIR/MRD/DP/21/2010 dated July 15, 2010 introduced Call Auction in Pre-open session (hereinafter referred to as “pre-open session”) for the scrips forming part of Sensex and Nifty. Further, SEBI, vide circular no. CIR/MRD/DP/32/2010 dated September 17, 2010 and vide letter dated September 17, 2010 provided

clarification with regard to order matching and order level risk management.

2. In continuation to the above, it has been decided to extend Call Auction mechanism to IPOs and scrips as defined under para 1(c) of SEBI circular no. SEBI/Cir/ISD/1/2010 dated September 2, 2010 (hereinafter referred to as Re-listed Scrips), on the first day of trading/ re-commencement of trading in the manner prescribed as follows –

3. Duration of Session

The session shall be for a duration of 60 minutes i.e. from 9:00 a.m. to 10:00 a.m., out of which 45 minutes shall be allowed for order entry, order modification and order cancellation, 10 minutes for order matching and trade confirmation and the remaining 5 minutes shall be the buffer period to facilitate the transition from preopen session to the normal trading session.

The session shall close randomly during last one minute of order entry i.e. anytime ebetween 44th and 45th minute of the order entry. Such random closure shall be system driven.

4. Eligible Scrips

I. IPO scrips on the first day of trading

a. Price Bands There shall be no price bands in the pre-

open session.

b. Market Orders Market orders shall not be accepted in

pre-open session.

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c. Matched Orders For matched orders the provisions of

SEBI circulars and letter mentioned at para above shall apply.

d. Un-matched orders All outstanding orders will be moved to

the normal trading session at their Limit price.

II. Re-listed Scrips

a. Price Bands There shall be no price bands for re-listed

scrips during pre-open session.

b. Market Orders Market orders shall not be accepted in

the pre-open session.

c. Matched Orders For matched orders the provisions of

SEBI circulars and letter mentioned at para 1 above shall apply.

d. Un-matched orders i. In case equilibrium price is discovered,

all outstanding orders shall be moved to the normal trading session at their limit price.

ii. In case equilibrium price is not discovered, all orders shall be cancelled and the scrip shall continue to trade in call auction mechanism until price is determined.

5. Risk Management – For IPO scrips with an issue size greater than ` 250 cr the risk management provisions as prescribed vide

SEBI circular dated July 15, 2010 and letter dated September 17, 2010 shall remain applicable for pre-open session. For IPO scrips with issue size upto ` 250 cr and Re-listed scrips it is advised that margins shall be checked and blocked for 100% of the order value at the order level itself before considering the order eligible for inclusion in pre-open session.

6. All other provisions of the circular No. CIR/MRD/DP/21/2010 dated July 15, 2010 and circular No. CIR/MRD/DP/32/2010 dated September 17, 2010 and letter dated September 17, 2010 shall remain applicable.

7. The above provisions shall be implemented within four weeks from the date of issuance of this circular. The date of commencement of pre-open session for all eligible scrips shall be uniform between both the stock exchanges.

8. SEBI vide circular no CIR/MRD/DP/02/2012 dated January 20, 2012 has prescribed the Trade Controls applicable to trading of IPO and Re-listed scrips in the normal trading session.

9. Stock Exchanges are advised to: a. take necessary steps and put in place

necessary systems for implementation of the above.

b. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision.

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c. bring the provisions of this circular to the notice of the member of the stock exchange and also to disseminate the same on the website.

d. communicate to SEBI, the status of implementation of the provisions of this circular in the Monthly Development Report.

Source : SEBI / MRD/DP/ 01/2012 dated January 20, 2012.

V. Trade Controls in Normal TradingSessionforInitialPublicOffering(IPO)andOtherCategoryofScrips.

1. SEBI vide circular no. SMD/SED/RCG/271/96 dated January 19, 1996, inter-alia, prescribed no price bands for scrips on the first day of trading pursuant to IPO.

Further SEBI vide circular no SEBI/Cir/ISD/1/2010 dated September 2, 2010, interalia, prescribed no price bands on the first day of re-commencement of trading for scrips specified under para 1(c) (hereinafter referred to as Re-listed scrips) of the said circular.

2. In light of high volatility and price movement observed on first day of trading, it has been decided to put in place a framework of trade controls for IPO and Re-listed scrips applicable to the normal trading session in the following manner –

Trade Timing

The normal trading session for IPO and Re-listed scrips on their first day of trading shall commence only subsequent to conclusion of the Call Auction session for such scrip on BSE and NSE. The duration of the Call Auction session is prescribed vide SEBI circular no CIR/MRD/DP/01/2012 dated January 20, 2012.

Eligible scrip

I. IPO scrips

Price Bands

a For issue size up to ` 250 cr, the applicable price bands for the first day shall be –

i. In case equilibrium price is discovered in the Call Auction, the price band in the normal trading session shall be 5% of the equilibrium price.

ii. In case equilibrium price is not discovered in the Call Auction, the price band in the normal trading session shall be 5% of the issue price.

iii. On Stock exchanges, not eligible to offer Call Auction, the reference price for price bands for the first day shall be –

A. in case equilibrium price is discovered in the Call Auction at BSE/NSE, the price band in the normal trading session shall be 5% discovered equilibrium price. In case of multiple equilibrium prices, the discovered equilibrium price closer to the issue price shall be taken as the reference

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price for price band on the first day. B. in case equilibrium price is not

discovered in the Call Auction, the price in the normal trading session band shall be 5% of the issue price.

Additionally, the trading shall takeplacein TFT segment for first 10 days fromcommencementoftrading.

b. For issue size greater than ` 250 cr, the applicable price bands for the first day shall be –

i. In case equilibrium price is discovered in the Call Auction, the price band in the normal trading session shall be 20% of the equilibrium price.

ii. In case equilibrium price is not discovered in the Call Auction, the price band in the normal trading session shall be 20% of the issue price.

iii. On Stock exchanges, not eligible to offer Call Auction, the reference price for price bands for the first day shall be –

A. in case equilibrium price is discovered in the Call Auction at BSE/NSE, the price band in the normal trading session shall be 20% discovered equilibrium price. In case of multiple equilibrium prices, the discovered equilibrium price closer to the issue price shall be taken as the reference price for price band on the first day

B. in case equilibrium price is not discovered in the Call Auction, the

price band in the normal trading session shall be 20% of the issue price.

II. Re-listed scrips

Price Bands

Trading shall take place in the TFT segment for the first 10 days with applicable price bands, wherein for the first day – i Incase equilibrium price is discovered in

the Call Auction, the price band in the normal trading session shall be 5 % of the discovered price.

ii Incase equilibrium price is not discovered in the Call Auction, the scrip shall continue to trade in call auction sessions until price is determined.

3. All other relevant provisions of the circular no. SMD/SED/RCG/271/96 dated January 19, 1996 and circular no. SEBI/Cir/ISD/1/2010 dated September 2, 2010 as amended from time to time, shall remain applicable.

4. Stock Exchanges are advised to: a. take necessary steps and put in place

necessary systems for implementation of the above.

b. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision.

c. bring the provisions of this circular to the notice of the member of the stock exchange and also to disseminate the same on the website.

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d. communicate to SEBI, the status of implementation of the provisions of this circular in the Monthly Development Report.

Source : SEBI / MRD/DP/ 02/2012dated January 20, 2012.

VI. InvestorGrievanceRedressalMechanismatStockExchanges

1. SEBI, vide circular Ref. No. SMD/POLICY/CIR-32/97 dated December 03,1997 had mandated all stock exchanges to open/maintain at least one investor service centre for the benefit of the public/Investors. Such centres are required to inter alia provide counseling service to the investors. It is also noted that some stock exchanges have constituted Investor Grievance Redressal Committees (IGRC) for redressal of investor grievances.

2. In light of the concerns expressed by investors and to facilitate early redressal of investor grievances, it has been decided to mandate that stock exchanges having nationwide terminals (such as NSE, BSE, MCX-SX and USEIL), functional stock exchanges having trading volumes, stock exchanges entering into MOUs with other exchanges and stock exchanges intending to recommence trading operations shall constitute IGRC at every investor service centre.

3. The composition of the IGRC shall be as follows:-

a. The IGRC shall comprise of a single person for claims upto ` 25 Lakh, whereas, for claims above ` 25 Lakh, the IGRC shall comprise of three persons.

b. The IGRC shall comprise of independent persons with qualifications in the area of law, finance, accounts, economics, management or administration and experience in financial services, including securities market.

c. Further, the three member Committee shall comprise of atleast one technical expert for handling complaints related to technology issues (such as internet based trading, algorithmic trading, etc).

d. The members of IGRC shall not be associated with a trading member in any manner.

e. The disclosures and code of conduct prescribed under para 3.4 and 4 of SEBI circular Ref. No CIR/MRD/DSA/24/2010 dated August 11, 2010, shall be applicable, as far as may be, to members of IGRC also.

4. It is, further, advised that apart from the investor services centres that are currently operating in four metro cities (viz., New Delhi, Mumbai, Chennai and Kolkata), stock exchanges having nationwide terminals shall open investor services centres in other large cities in a time bound manner. A list of places where such centres are proposed to be opened is to be submitted to SEBI immediately and

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the progress of implementation should be reported to SEBI on a monthly basis in the respective monthly development reports (MDRs).

Source : SEBI / MRD/ DSA/03/2012 dated January 20, 2012.

VII. CompositionofArbitrationCommittee

1. SEBI, vide its various communications has mandated all stock exchanges that not be more than twenty percent of the members of the arbitration committee shall be trading members.

2. It has now been decided to do away with the representation of trading members on arbitration committee/panel of all stock exchanges. It is, henceforth, stipulated that the arbitration committee/panel shall not comprise of any trading members.

3. The stock exchanges are advised to:-

a. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately;

b. bring the provisions of this circular to the notice of the members of the stock exchange and also to disseminate the same through their website; and

c. communicate to SEBI, the status of implementation of the provisions of this circular in the Monthly Development Reports to SEBI.

Source : SEBI / MRD/ DSA/04/2012dated January 20, 2012.

VIII. Eligibility criteria for qualifieddepositoryparticipant

1. Vide SEBI circulars Cir/IMD/DF/14/2011 and Cir/IMD/FII&C/3/2012 dated August 09, 2011 and January 13, 2012 respectively, Qualified Foreign Investors (QFI) were allowed to invest in schemes of Indian mutual funds and Indian equity shares subject to terms and conditions mentioned therein, including opening a demat account with qualified Depository Participant. The eligibility criteria for a SEBI registered Depository Participant (DP) to act as qualified Depository Participant were provided in the aforementioned circulars.

2. On a review, it has been decided to amend the eligibility criteria for a SEBI registered DP to act as a qualified Depository Participant. The revised eligibility criteria to act as qualified Depository Participants are as follows:

To become a qualified Depository Participant, a SEBI registered DP shall fulfill the following:

2.1. DP shall have net worth of Rs. 50 crore or more;

2.2. DP shall be either a clearing bank or clearing member of any of the clearing corporations;

2.3. DP shall have appropriate arrangements for receipt and remittance of money with a designated Authorised Dealer (AD) Category – I bank;

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2.4. DP shall demonstrate that it has systems and procedures to comply with the FATF Standards, Prevention of Money Laundering (PML) Act, Rules and SEBI circulars issued from time to time; and

2.5. DP shall obtain prior approval of SEBI before commencing the activities relating to opening of accounts of QFI.

The eligibility criteria for qualified Depository Participant as contained in SEBI circulars dated August 9, 2011 and January 13, 2012 stands amended as above.

3. In order to maintain consistency in the maximum retention period of QFI’s fund in the single rupee pool bank account for investments/ re-investment out of redemption or dividend in schemes of Indian mutual funds vis-à-vis equity shares, it has been decided to amend clause(s) 4.7.5 and 4.7.7 of circular Cir/IMD/DF/14/2011 dated August 9, 2011.

4. Accordingly, the maximum retention period of QFI’s funds in the single rupee pooled account with the qualified depository participant as envisaged in clause(s) 4.7.5 and 4.7.7 of circular dated August 9, 2011 stands

revised to fiveworkingdays (including the date of receipt of foreign inward remittance through normal banking channels from the designated overseas bank account of the QFI into the single rupee pool bank account) for both investment as well as re-investment out of redemption proceeds in schemes of Indian mutual funds.

5. Further, in partial amendment to clause 4.7.8, it has been decided to allow credit of dividend payments to QFIs on account of investment in schemes of Indian mutual funds held by them to the single rupee pool bank account subject to the condition that in case dividend payments are credited to the single rupee pool bank account, they shall be remitted to the designated overseas bank accounts of the QFIs within five working days (including the day of credit of such funds to the single rupee pool bank account). Within these five working days, the dividend payments can be also utilized for fresh purchases in schemes of Indian mutual funds, if so instructed by the QFI.

Source: SEBI /IMD/ FII&C/ 4/ 2012 dated January 25, 2012

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• SEBI imposed a penalty of ` 50,00,000/– (Rupees Fifty Lakh only) on Shri V K Kaul in the matter of M/s Orchid Chemicals Pharmaceuticals Ltd. in terms of the provisions of Section 15G (i) of the SEBI Act, 1992 for the violation of Sections 12A (d) and (e) of the SEBI Act, 1992.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakhs Only) on Smt. Bala Kaul in the matter of M/s Orchid Chemicals Pharmaceuticals Ltd. in terms of the provisions of Section 15G(i) of SEBI Act,1992 for the violation of Sections 12A (d) and (e) of the SEBI Act, 1992.

• SEBI imposed a penalty of ` 4,00,000/– (Rupees Four Lakhs Only) on Shri Pratik Rameshchandra Shah in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15A(b) of SEBI Act,1992 for not making necessary disclosures under Regulation 13(1), 13(3) and 13(4) of PIT Regulations, 1992 and Regulation 7(1) of SAST Regulations,1997.

• SEBI imposed a penalty of : ` 10,00,000/– (Rupees Ten Lakhs Only) on

Mr. Manoj Gaur (Noticee-1) under section 15G of SEBI Act for violation of regulation 3(ii) of PIT Regulations, 1992.

` 10,00,000/– (Rupees Ten Lakhs Only) on Ms. Urvashi Gaur (Noticee-2) under section 15G of SEBI Act for violation of regulation 3(i), 3(ii) & 4 of PIT Regulations, 1992.

` 10,00,000/ – (Rupees Ten Lakhs Only) on Mr. Sameer Gaur (Noticee-3) under section 15G of SEBI Act for violation of regulation 3(i), 3(ii) & 4 of PIT Regulations, 1992.

In the matter of M/s. Jaiprakash Associates Ltd.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakhs Only) on Mr Harish K Vaid in the matter of M/s. Jaiprakash Associates Ltd. in terms of the provisions of Section 15G of SEBI Act,1992 for violation of regulations 3(ii) & 4 of PIT Regulations, 1992.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakhs Only) on Shri S.D.Nailwal in the matter of M/s. Jaiprakash Associates Ltd. in terms of the provisions of Section 15G of SEBI Act,1992 for violation of regulations 3(i) & 4 of PIT Regulations, 1992 and `10,00,000/ – (Rupees Ten Lakhs only) under section 15HB of SEBI Act, {i.e. a total penalty of ` 20,00,000/– (Rupees Twenty Lakhs only) for violation of regulation 12(1) read with Clause 3.2-2 & 3.2-5 of code of conduct as specified under Part A of Schedule I of the PIT Regulations,1992.

ORDERPASSEDBYADJUDICATINGOFFICERANDCHAIRMAN/MEMBERS

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• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakhs only) on Shri Manish Ashokbhai in the matter of M/s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakhs Only) on Ms. Ashaben Ambani, Mr. Manish Ashokbhai Ambani and Ms. Meena Ashokbhai Ambani in terms of provisions of Section 15H(ii) of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violating provisions of Regulation 10 of SAST Regulations, 1997 and shall be jointly and severally liable to pay the said monetary penalty in the matter of M/s. Platinum Corporation Ltd.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakhs Only) on Mr. Bipin Ratilal Shah, Ms. Meeta B. Shah, Mr. Bharat Kumar Ratilal Shah and Ms. Preeti Bharat Kumar Shahin terms of provisions of Section 15H(ii) of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violating provisions of Regulation 10 of SAST Regulations, 1997 and shall be jointly and severally liable to pay the said monetary penalty in the matter of M/s. Platinum Corporation Ltd.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on Ms. Ashaben

Ambani in the matter of M/ s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violation of the provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 2,00,000/ – (Rupees Two Lakh only) on Ms. Meena Ashokbhai Ambani in the matter of M/ s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violation of the provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Saumil A. Bhavnagari in the matter of M/s. Adani Exports Ltd. under Section 15HA of SEBI Act, 1992, for violation of the provisions of Regulations 4 (1) and 4 (2) (a), (b), (e) & (g) of the PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on M/s. Girish Metals Pvt. Ltd. in the matter of M/s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violation of the provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

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• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on Shri Manoj R Shah in the matter of M/s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violation of the provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 1,00,000/– (Rupees One Lakh only) each on Mr. Homiyar Firoze Mistry, Ms. Urmila Lakhotia, Mr. Uday Chandar Mohite in the matter of M/s. Fact Enterprises Ltd under Section 15 A(b) of SEBI Act, 1992 for violation of the provisions of Regulations 7(1) read with 7(2) of SAST Regulations, 1997.

• SEBI imposed a penalty of ̀ 5,00,000 (Rupees Five lakh only) under section 15HB on M/s. India Infoline Securities Limited in the matter of M/s. Asian Star Company Limited for violating the provisions of Regulation 7 read with Clauses A(1) & A(2) of Code of Conduct for Stock Brokers as specified in Schedule II of the Broker Regulations, 1992.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on Ms. Preeti Bharatkumar Shah in the matter of M/s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violation of the provisions of section 12A (a), (b) and (c) of

the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on M/s. Sonika Granites Pvt. Ltd. in the matter of M/s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violation of the provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on M/s. Shanti Tradelink Pvt. Ltd. in the matter of M/s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules, for violation of the provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 20,00,000/– (Rupees Twenty Lakh only) in the matter of M/s. Platinum Corporation Ltd. under Section 15H(ii) of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules,on Mr. Pratik R Shah; Mr. Dhrumal Vaidya; Mr. Anindo A Banerjee; Ms. Nikita B Dave; M/s. Vashi Constructions Pvt. Ltd.;Mr. Rajesh C Shah, Director of M/s. Vashi Constructions Pvt. Ltd.; Ms. Bhavana R Shah, Director of M/s. Vashi Constructions Pvt. Ltd.; M/s. Rudra Securities and Capital Ltd.; Mr. Nileshkumar

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T Kava, Director of M/s. Rudra Securities and Capital Ltd.; Mr. Ketan D Sorathiya, Director of M/s. Rudra Securities and Capital Ltd.; Mr. Vipul S Trivedi, Director of M/s. Rudra Securities and Capital Ltd.; M/s. Dhanlaxmi Lease Finance Ltd.; Mr. Bipin R Shah, Director of M/s. Dhanlaxmi Lease Finance Ltd.; Mr. Bharat R Shah, Director of M/s. Dhanlaxmi Lease Finance Ltd. and Mr. Girish G Doshi, Director of M/s. Dhanlaxmi Lease Finance Ltd. and shall be jointly and severally liable to pay the said monetary penalty for failing to make necessary public announcement to acquire the shares of the Company in accordance with SAST Regulations,1997.

Since no violation has been established against Ashok H Shah and Neha R Shethwala, Ashok H Shah and Neha R Shethwala are not liable for any monetary penalty under Section 15H (ii) of the SEBI Act, 1992.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on M/s. Lakshya Securities & Credit Holdings in the matter of M/s. Platinum Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two Lakh only) on Shri Shankarlal M. Patel in the matter of M/s. Platinum

Corporation Ltd. under Section 15HA of SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

• SEBI directed Mr. Shailesh S. Jhaveri and Ms. Harsha M. Shah to pay a total amount of `2,72,06,222 (Rupees Two Crore Seventy Two Lakh Six Thousand Two Hundred Twenty Two only) in lieu of the disgorgement of the unlawful gain of ̀ 60,72,000 each in the matter of M/s. Ojas Technochem Products Limited for employing fraudulent and unfair trade practices to get the shares and made unlawful gains by selling the shares so cornered, pursuant to the proceedings after the SEBI order dated November 13, 2007 against the notices in violation of the provisions of Regulation 4(b) and (d) of the SEBI (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995 . In addition, they shall also pay `75,31,111 each, being the simple interest at the rate of 12% per annum on the unlawful gain of `60,72,000, for the period of January, 2000 to May, 2010.

• SEBI imposed a penalty of ` 2,00,000/– (Rupees Two lakh only) under Section 15 HB of SEBI Act, 1992 on M/s. MTL Shares & Stock Brokers Ltd in the matter of M/s. Rich Capital & Financial Services Ltd for violating the provisions of Regulation 7 read with Clauses

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A (2) of Code Of Conduct for stock brokers specified under Schedule II of SEBI (Stock Brokers & sub Brokers) Regulation, 1992.

• SEBI imposed a penalty of ` 50,000/– (Rupees Fifty Thousand only) under Section 15 A(b) of the SEBI Act, 1992 on M/s Sahil Electronics Limited in the matter of M/s. A.V. Cottex Limited for the violation of Regulation 13(3) read with Regulation 13(5) of PIT Regulations, 1992.

• SEBI imposed a penalty of ` 50,000/– (Rupees Fifty Thousand only) under Section 15 A(b) of the SEBI Act, 1992 on M/s Watta Finance & Investment Company Limited in the matter of M/s. A.V. Cottex Limited for the violation of Regulation 13(1)of PIT Regulations, 1992.

• SEBI imposed a penalty of ` 1,00,000/– (Rupees One Lakh only) under Section 15 HA of the SEBI Act, 1992 on Mr. Dhirajlal Patel in the matter of M/s Kewal Kiran Clothing Limited for the violation of provisions of Regulations 3, 4(1), 4(2)(a) and 4(2)(g) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Ashok Purushottam Patel in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations

3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Ms. Gitaben Chandulal Parmar in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Divyesh Jayantibhai Parmar in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Balchandra K. Patel in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations, 2003.

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• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Kalpesh Ramanbhai Patel in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 3,00,000/– (Rupees Three Lakh only) on Shri Balasaheb J Kamble in the matter of M/s Flawless Diamond (India) Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 for violation of provisions of Regulations 4(1), 4(2)(a), 4(2)(b)and 4(2)(g)of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ̀ 2,00,000/– (Rupees Two Lakh only) on Shri Vijay K Bohra in the matter of M/s Flawless Diamond (India) Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 for violation of provisions of Regulations 4(1), 4(2)(a), 4(2)(b)and 4(2)(g)of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 1,00,000/– (Rupees One Lakh only) on Shri Dinesh K Pandey in the matter of M/s Flawless Diamond (India) Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 for violation of provisions of Regulations 4(1), 4(2)(a), 4(2)(b)and 4(2)(g)of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Mahendra Kashiram Patel in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Mukesh Chimanlal Bhayani in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on M/s Keynote Corporate Services Ltd. in the matter of M/s Edserv Softsystems Limited in terms of the provisions of Section 15HB of the SEBI Act, 1992 for its failure to comply with the Clauses 5.1 (5.1.1. and 5.1.2), 5.3.3.2 (ii) under Chapter V of SEBI (DIP) Guidelines, 2000 read with Regulation 111 of SEBI (ICDR) Regulations, 2009.

• SEBI imposed a penalty of ` 15,00,000/- (Rupees Fifteen Lakhs only) on Smt. Roopal Nareshbhai Panchal and a penalty of

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` 1,00,000 (Rupees One Lakh only) on Shri Arjav Nareshbhai Panchal in the matter of IPO irregularities in terms of the provisions of Section 15HA of the SEBI Act, 1992 for violation of the provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a), (b), (c) and (d) and Regulation 4(1) of PFUTP Regulations, 2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Narendra Kashiram Patel in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/– (Rupees Ten Lakh only) on Shri Pravinbhai Kashiram Patel in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1) of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 10,00,000/ – (Rupees Ten Lakh only) on Shri Sanjay S. Patel in the matter of M/s Platinum Corporation Limited in terms of the provisions of Section 15HA of the SEBI Act, 1992 and Rule 5(1)

of the Adjudication Rules for violation of provisions of Section 12A (a), (b) and (c) of the Act and Regulations 3 (a),(b),(c),(d), 4(1), 4(2)(e) of PFUTP Regulations,2003.

• SEBI imposed a penalty of ` 6,00,000/– (Rupees Six Lakh only) on M/s J H P Securities Private Limited in the matter of M/s Gemstone Investments Limited in terms of the provisions of Section 15 HA of the Act for the violation of the provisions of Regulations 4(1), 4(2)(a) and 4(2)(e) of PFUTP Regulations, 2003 and ` 2,00,000/– (Rupees two lakh only) in terms of the provisions of Section 15HB of the Act for the violation of the provisions of clauses A(1) to (5) of the Code of Conduct for Stock Brokers as specified under Schedule II read with Regulation 7 of the Brokers Regulations, 1992 (i.e. a total amount of Rupees Eight Lakh only).

• SEBI imposed a penalty of ` 1.87 crore (Rupees One Crore and eighty seven lakh only) on M/s. Hanumesh Realtors Private Limited in tbe matter of M/s. S. Kumars.Com Ltd. (presently known as S Kumars Online Ltd.) in terms of the provisions of Section 15H (ii) of the SEBI Act, 1992 for the violation/contravention of the provisions of Regulation 11 (1) read with Regulation 14(1) of the SAST Regulations, 1997.

Note:Aboveinformationareindicativeonly.Fordetails,pleaselogontohttp://www.sebi.gov.in/sebiweb/home/list/2/9/0/1/Orders

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1. Treasury Releases Semi-Annual Report toCongressonInternationalExchangeRatePolicies

The Treasury Department released the Semi-Annual Report to Congress on International Economic and Exchange Rate Policies that covers international economic and foreign exchange developments in the first half of 2011. The Report highlights the need for greater exchange rate flexibility, most notably by China, but also in other major economies. Based on the ongoing appreciation of the RMB against the dollar since June 2010, the decline in China’s current account surplus, and China’s official commitments at the G-20, APEC, and the U.S.-China Strategic and Economic Dialogue (S&ED) that it will move more rapidly toward exchange-rate flexibility, China was not named as a currency manipulator. Treasury will closely monitor the pace of RMB appreciation and press for policy changes that yield greater exchange-rate flexibility, a level playing field, and a sustained shift to domestic demand-led growth.Source: http://www.treasury.gov/resource-center/international/exchange-rate-policies/Pages/index.aspx

2. Federal Reserve Issues White Paper onU.S.HousingMarket

The Federal Reserve published a white paper on the current conditions and policy considerations with regard the U.S. housing market. The report provides a framework for thinking about directions policymakers might take to help the housing market and offers background on current housing conditions. It then discusses proposals

aimed at foreclosed properties that are owned by financial institutions, such as the government-sponsored enterprises (GSEs) or banks, examines proposals aimed at homeowners at risk of default or foreclosure, and discusses ideas for improving mortgage servicing practices. It cautions that although policy action in these areas could facilitate the recovery of the housing market, economic losses will remain, and these losses must ultimately be allocated among homeowners, lenders, guarantors, investors, and taxpayers.Source:http://www.federalreserve.gov/publications/other-reports/files/housing-white-paper-20120104.pdf

3. MEPSCallforRoadmapTowardEurobondsAs the working group drafting the “international agreement on a reinforced economic union” reconvened this week, Members of the European Parliament (MEPs) voiced their support for a roadmap with a view to introducing Eurobonds. The group, led by Elmar Brok (EPP, DE), Roberto Gualtieri (S&D, IT) and Guy Verhofstadt (ALDE, BE), called on Member States to establish a national debt-reduction fund and to adopt a roadmap creating the conditions that will allow them to issue part of their sovereign debt in common, with joint and several liabilities. The MEPs added that a “sustainable framework” is needed for the possible introduction of stability bonds, with the aim of enhancing economic governance and economic growth in the euro area.Source: http://www.europarl.europa.eu/news/en/pressroom/content/20120105IPR34873/html/Reinforced-economic-union-MEPs-call-for-roadmap-towards-eurobonds

HIGHLIGHTSOFDEVELOPMENTSININTERNATIONALSECURITIESMARKETS

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4. SIFMAReleasesEconomicSurvey

SIFMA’s Economic Advisory Roundtable released its outlook for the full year 2011 and 2012, forecasting that the economy will grow at a rate of 2.2 percent in 2012. “While our Roundtable has forecast continued economic growth through 2012, those predictions have been revised downward since our midyear survey,” said Kyle Brandon, managing director, director research at SIFMA. “Concerns over the European debt crisis, along with domestic politics, fiscal policies and regulatory uncertainty remain significant risks to the downside for the economy going forward.”Source:http://www.sifma.org/econoutlook20112h/

5. IMFPublishesWorkingPaperonForeignBanksandFinancialStability

The International Monetary Fund (IMF) published a working paper that analyzes the trends, impact and financial stability of foreign banks. It notes that while the entry of foreign banks is generally thought to have favorable effects on the development of host banking systems, including through increased credit extension, some studies find more ambiguous results. The paper also points out that the recent financial crisis highlighted that, while foreign banks play important roles in the global financial system and affect domestic financial systems, access to financial services, and consequent economic performance, many aspects are not yet well understood, in part due to lack of data.

Further, it concludes that foreign banks generally have higher capital adequacy and better liquidity positions. They also engage relatively less in

traditional lending businesses. In terms of performance, maybe surprising, foreign banks underperform domestic banks in emerging markets and developing countries, but do not perform differently in high-income countries, it notes.Source: http://www.imf.org/external/pubs/ft/wp/2012/wp1210.pdf

6. IMF Announces Countries UndergoingFSAPsin2012

The IMF released a list of countries under Financial Sector Assessment Programs during 2012 that will focus on potential risks in large, interconnected financial sectors in France, Spain, Japan, Brazil, and Australia, among others. The IMF’s Financial Sector Assessment Program assesses three key components in all countries: the soundness of banks and other financial institutions, including through stress tests; the quality of bank, insurance, and financial market supervision; and the ability of supervisors, policymakers, and financial safety nets to respond effectively in case of a crisis. The IMF notes that crisis management arrangements are “also under the microscope,” along with how countries can prepare for a crisis.Source: http://www.imf.org/external/pubs/ft/survey/so/2012/POL011312A.htm

7. MAS Introduces Regulatory FrameworkforCRAs

The Monetary Authority of Singapore (MAS) introduced a regulatory framework for credit rating agencies (CRAs) that takes effect immediately. Under the new CRA regulatory framework, the provision of credit rating services

140


will be regulated under the Securities and Futures Act (SFA). CRAs will consequently have to be licensed under the Capital Markets Services (CMS) licensing regime under the SFA and be subject to licensing obligations. Existing CRAs will be given a transition period of 6 months to apply for the required licence.Source: http://www.mas.gov.sg/news_room/press_releases/2012/MAS_introduces_regulatory_framework_for_CRA.html

8. EC Proposes Comprehensive Reform ofDataProtectionRules

The European Commission (EC) proposed a comprehensive reform of the EU’s 1995 data protection rules that includes a regulation setting out a general EU framework for data protection and a directive on protecting personal data processed for the purposes of prevention, detection, investigation or prosecution of criminal offences and related judicial activities. The proposals include a single set of rules on data protection, valid across the EU and the stipulation that if personal data is handled abroad by companies that are active in the EU market and offer their services to EU citizens. The Commission’s proposals will now be passed on to the European Parliament and EU Member States (meeting in the Council of Ministers) for discussion. They will take effect two years after they have been adopted.Source: http://europa.eu/rapid/pressReleasesAction.do?reference=IP/12/46&format=HTML&aged=0&language=EN&guiLanguage=en

9. HouseAgricultureCommitteePassesSixBillsonDerivatives

The U.S. House Agriculture Committee passed six bills that amend the Dodd-Frank Act by a voice vote. Some of the issues covered by the bills include: the use of derivatives by end users to manage business risks without being subject to costly margin requirements; clarification that inter-affiliate transactions are not to be regulated as swaps; and clarification to prohibit regulators from requiring a minimum number of participants to receive or respond to quote requests.Source: http://agriculture.house.gov/press/PRArticle.aspx?NewsID=1517

10. IOSCO Publishes Follow-On AnalysistoTradingofOTCDerivativesReport

The International Organization of Securities Commissions (IOSCO) published a follow-on analysis to its report on Trading of OTC derivatives that describes the different types of trading platforms currently available for the execution of OTC derivatives transactions in IOSCO member jurisdictions. Where possible, it also notes the differences relating to participant, product and geographic coverage. It notes that there are a number of different types of trading platforms currently available for the execution of OTC derivatives transactions in IOSCO member jurisdictions that fall into two broad categories: those with multiple liquidity providers (multi-dealer platforms) and those with a single liquidity provider (single-dealer platforms). The report also offers an overview of regulatory approaches by the United States, European Union and other global jurisdictions.Source:http://iosco.org/library/pubdocs/pdf/IOSCOPD368.pdf

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ANNEXAnnex

1 Company-Wise Capital Raised through Public and Rights Issues during January 2012

2 Preferential Allotments Listed at BSE and NSE

3 Rating Assigned to IPOs during January 2012

4 Open Offers under SEBI Takeover Code closed during January 2012

5 Private Placement of Corporate Debt Reported to BSE and NSE

6 SEBI Registered Market Intermediaries/Institutions

7 Capital Raised from the Primary market through though Public and Rights Issues

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

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

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

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

12 Distribution of Turnover on Cash Segments of Exchanges

13 Cash Segment of BSE

14 Cash Segment of NSE

15 Trends in Cash Segment of BSE during January 2012

16 Trends in Cash Segment of NSE during January 2012

17 Turnover and Market Capitalisation at BSE and NSE during January 2012

18 Component Stocks: BSE Sensex during January 2012

19 Component Stocks: S&P CNX Nifty index during January 2012

20 Volatility of Major Indices

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

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

23 Trading Frequency in Cash Segment of BSE and NSE

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

25 Settlement Statistics for Cash Segment of BSE

26 Settlement Statistics for Cash Segment of NSE

27 Equity Derivatives Segment at BSE

28 Equity Derivatives Segment at NSE

29 Equity Derivatives Trading at NSE during January 2012

30 Settlement Statistics in Equity Derivatives Segment at BSE and NSE

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31 Trends in Trading in the Corporate Debt Market

32 Trading Statistics of Currency Derivatives Segment at NSE

33 Trading Statistics of Currency Derivatives Segment at MCX_SX

34 Trading Statistics of Currency Derivatives Segment at USE

35 Daily Trends of Currency Derivatives Trading at NSE during January 2012

36 Daily Trends of Currency Derivatives Trading at MCX_SX during January 2012

37 Daily Trends of Currency Derivatives Trading at USE during January 2012

38 Settlement Statistics of Currency Derivatives Segment

39 Trading Statistics of Interest Rate Futures Segment

40 Interest Rate Futures trading at NSE during January 2012

41 Settlement Statistics in Interest Rate Futures Segment

42 Trends in Foreign Institutional Investment

43 Daily Trends in Foreign Institutional Investment during January 2012

44 Notional Value of Participatory Notes (PNs) Vs Assets Under Management of FIIs (in Rs. Crores)

45 Trends in Resource Mobilization by Mutual Funds

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

47 Scheme-wise Resource Mobilisation by Mutual Funds

48 Trends in Transactions on Stock Exchanges by Mutual Funds

49 Asset Under Management by Portfolio Manager

50 Substantial Acquisition of Shares and Takeovers

51 Progress Report of NSDL & CDSl as on January 31, 2012(Listed Companies)

52 Progress of Dematerialisation at NSDL and CDSL

53 Assets under the Custody of Custodians

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

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

56 Macro Economic Indicators

57 Daily Return and Volatility: Select World Stock Indices

N.B.: 1. NA = Not Applicable/Available. 2. 1 crore = 10 million = 100 lakh. 3. 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. 4. The data for the current month is provisional.

✦ ✦ ✦

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Table 1: SEBI Registered Market Intermediaries/Institutions

Market Intermediaries 2008-09 2009-10 2010-11 2011-12$1 2 3 4 5

Stock Exchanges (Cash Market) 19 19 19 19Stock Exchanges (Derivatives Market) 2 2 2 2Stock Exchanges (Currency Derivatives) 3 4 4 4Brokers (Cash Segment)* 9,628 9,772 10,203 10,277Corporate Brokers (Cash Segment) 4,079 4,197 4,774 4,872Brokers (Derivative) 1,587 1,705 2,111 2,315Brokers (Currency Derivatives) 1,154 1,459 2,008 2,148Sub-brokers (Cash Segment) 62,471 75,378 83,808 78,045

Foreign Institutional Investors 1,635 1,713 1,722 1,775Sub-accounts 4,967 5,378 5,686 6,318Custodians 16 17 17 19Depositories 2 2 2 2Depository Participants 714 758 805 851Merchant Bankers 134 164 192 199Bankers to an Issue 51 48 55 57Underwriters 19 5 3 3Debenture Trustees 30 30 29 31Credit Rating Agencies 5 5 6 6Venture Capital Funds 132 158 184 201Foreign Venture Capital Investors 129 143 153 168Registrars to an Issue & Share Transfer Agents 71 74 73 74Portfolio Managers 232 243 267 248Mutual Funds 44 47 51 49Collective Investment Schemes 1 1 1 1Approved Intermediaries (Stock Lending Schemes) 2 2 2 2STP (Centralised Hub) 1 1 1 1STP Service Providers 2 2 2 2

$ indicates as on last trading day of Jan. 2012.*including brokers on Mangalore SE (58), HSE (303), Magadh SE (197), SKSE (404). Source : SEBI

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Table 2: Company-Wise Capital Raised through Public and Rights Issues (Equity) during January 2012

SL. No.

Name of the Issuer/Company

Date of Opening

Type of Issue

Type of Instrument

No. of Shares/BondsIssued

Face Value

(`)

Premium Value

(`)

Issue price ( ` )

Size of Issue

(` crore)

1 2 3 4 5 6 7 8 9 10

NIL

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

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Table 3 : Rating Assigned to IPOs during January 2012

Sr. No. Name of the Company Credit Rating Agencies

Rating Assigned

1 2 3 4

1 Multi Commodity Exchange of India Limited CRISIL IPO GRADE 5

2 Modern Tube Industries Ltd. CARE IPO GRADE 2

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.

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Table 4: Open Offers under SEBI Takeover Code closed during January 2012

Sl. No.

Target Company Acquirer Offer Opening

Date

Offer Closing

Date

Offer Size Offer Price (`) per share

No. of Shares

Percent of Equity Capital

1 2 3 4 5 6 7 8

1 YASH TRADING AND FINANCE LIMITED

MR. PRADEEP KUMAR SETHY

14-Dec-11 2-Jan-12 49,000 20.0 157.0

2 MPS LIMITED ADI BPO SERVICES PVT LIMITED

14-Dec-11 2-Jan-12 33,64,534 20.0 37.0

3 SWARAJ AUTOMOTIVES LIMITED

MAHINDRA & MAHINDRA LTD

27-Dec-11 10-Jan-12 6,47,382 27.0 90.0

4 CROITRE INDUSTRIES LTD(SAI WIRES INDIA LTD)

MR GIRDHAR S. BANSAL

28-Dec-11 16-Jan-12 12,61,278 35.7 1.8

5 MEDIA MATRIX WORLDWIDE LIMITED

DIGIVISION HOLDINGS PVT LTD

28-Dec-11 16-Jan-12 2,10,24,900 26.0 1.9

6 WAVERLEY INVESTMENTS LIMITED

FRANKTEX ENTERPRISES LTD &GOODFAITH COMMERCIAL LTD

28-Dec-11 16-Jan-12 1,00,000 20.0 45.0

7 MOLIND ENGINEERING LIMITED

ROYAL BEVERAGES PRIVATE LIMITED

6-Jan-12 25-Jan-12 5,07,000 20.0 45.0

8 RABHA PLASTICS LIMITED

MR.KAMLESH BHANUSHALI, MR.ANAND GURNANI, MR.SANKOOLA.SHAH

9-Jan-12 28-Jan-12 10,90,760 20.1 14.3

Source : SEBI.

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Amou

nt

(` cr

ore)

No.

of

issue

Amou

nt

(` cr

ore)

No.

of

iss

ue

Amou

nt

(` cr

ore)

No.

of

iss

ue

Amou

nt

(` cr

ore)

No.

of

issue

Amou

nt

(` cr

ore)

No.

of

issue

Amou

nt

(` cr

ore)

No.

of

iss

ue

Amou

nt

(` cr

ore)

No.

of

iss

ue

Amou

nt

(` cr

ore)

12

34

56

78

910

1112

1314

1516

1718

19

2008

-0947

16,2

2022

3,58

225

12,6

3725

12,6

3721

2,08

25

9640

14,1

761

448

11,

500

2009

-1076

57,5

5547

49,2

3629

8,31

934

30,3

5939

24,6

961

971

54,8

661

180

32,

500

2010

-1191

67,6

0968

58,1

0523

9,50

328

22,5

9953

35,5

592

5078

57,6

171

490

109,

451

2011

-12$

5234

,463

4232

,375

102,

088

116,

666

294,

981

399

3711

,548

00

1222

,817

Apr

-11

62,

023

62,

023

00

00

62,

023

00

62,

023

00

00

May

-11

54,

781

54,

781

00

14,

578

420

30

05

4,78

10

00

0

Jun-

117

1,19

64

1,14

13

553

553

141

286

411

00

01

1,00

0

Jul-1

15

1,44

73

1,38

22

652

653

1,38

21

134

1,43

40

00

0

Aug

-11

113,

866

83,

547

331

93

319

460

50

07

924

00

42,

942

Sep-

1112

3,02

910

1,38

12

1,64

92

1,64

99

627

00

112,

275

00

175

4

Oct

-11

00

00

00

00

00

00

00

00

00

Nov

-11

21,

062

21,

061

00

00

00

00

00

00

21,

062

Dec

-11

310

,759

310

,759

00

00

00

00

00

00

310

,759

Jan-

121

6,30

01

6,30

00

00

00

00

00

00

01

6,30

0

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.T

he fi

gure

s fo

r th

e m

onth

of J

anua

ry 2

012

are

prov

isio

nal

FCD

: Ful

ly C

onve

rtib

le D

eben

ture

; CC

PS: C

umul

ativ

e C

onve

rtib

le P

refe

renc

e Sh

are.

The

tot

al in

clud

es e

ithe

r Pu

blic

plu

s R

ight

s or

Equ

ity

plus

Deb

t or

Equ

itie

s pl

us C

CPs

/FC

Ds

and

Deb

t.A

ll th

e Is

sues

are

com

pile

d fr

om t

he P

rosp

ectu

s’ of

Iss

uer

Com

pani

es fi

led

wit

h SE

BI.

Sour

ce :

SEB

I.

148


Table 6: Industry-wise Classification of Capital Raised through Public and Rights Issues

Industry

2009-10 2010-11 2011-12$ Jan-12

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

Banking/FIs 6 3,138 18 17,248 12 22,817 1 6,300

Cement & Construction 8 2,780 3 2,841 1 60 0 0

Chemical 1 36 5 247 0 0 0 0

Electronics 1 1,156 0 0 1 121 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 9 7,699 0 0

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

Health Care 3 1,059 3 292 1 65 0 0

Information,Technology 6 540 1 170 2 138 0 0

Paper & Pulp 1 35 0 0 2 306 0 0

Plastic 1 39 0 0 1 11 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 21 2,983 0 0

Total 76 57,555 91 67,609 52 34,463 1 6,300

$ indicates as on last trading day of Jan. 2012.Source : SEBI.

149


able

7: S

ecto

r-w

ise

and

Reg

ion-

wis

e D

istr

ibut

ion

of C

apit

al M

obili

sed

thro

ugh

Publ

ic a

nd R

ight

s Is

sues

Yea

r/M

onth

Tot

alSe

ctor

-wis

eR

egio

n-w

ise

Pri

vate

Pub

lic N

orth

ern

Eas

tern

Wes

tern

Sout

hern

Fore

ign

No.

of

is

sue

Am

ount

(`

cror

e)N

o.

of

issu

e

Am

ount

(`

cror

e)N

o.

of

issu

e

Am

ount

(`

cror

e)N

o.

of

issu

e

Am

ount

(`

cror

e)N

o.

of

issu

e

Am

ount

(`

cror

e)N

o.

of

issu

e

Am

ount

(`

cror

e)N

o.

of

issu

e

Am

ount

(`

cror

e)N

o.

of

issu

e

Am

ount

(`

cror

e)

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$

5234

,463

4611

,372

511

,632

1022

,844

550

123

5,53

614

5,58

30

0

Apr

-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-

117

1,19

66

196

11,

000

121

00

417

02

1,00

50

0

Jul-1

15

1,44

75

1,44

70

01

550

02

1,32

72

650

0

Aug

-11

113,

866

113,

866

00

31,

016

111

235

85

2,48

00

0

Sep-

1112

3,02

911

2,27

51

754

287

42

140

71,

932

183

00

Oct

-11

00

00

00

00

00

00

00

00

Nov

-11

21,

062

21,

062

00

00

00

153

31

529

00

Dec

-11

310

,759

130

02

5,30

01

10,0

001

300

00

145

90

0

Jan-

121

6,30

00

00

01

6,30

00

00

00

00

0

The

tot

al is

eit

her

a to

tal o

f Sec

tor-

wis

e cl

assi

fica

tion

or

Reg

ion-

wis

e cl

assi

fica

tion

.$

indi

cate

s as

on

last

tra

ding

day

of J

an. 2

012.

Sour

ce :

SEB

I.

150


able

8: S

ize-

wis

e C

lass

ific

atio

n of

Cap

ital

Rai

sed

thro

ugh

Publ

ic a

nd R

ight

s Is

sues

Yea

r/M

onth

Tot

al<

5 c

rore

≥ 5

cror

e - <

10

cror

e≥

10

cror

e - <

50

cror

e≥

50

cror

e - <

100

cr

ore

≥ 1

00 c

rore

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

issu

eA

mou

nt

(`cr

ore)

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$

5234

,463

29

00

1443

611

734

2533

,283

Apr

-11

62,

023

00

00

295

160

31,

869

May

-11

54,

781

00

00

386

00

24,

695

Jun-

117

1,19

61

50

04

125

165

11,

000

Jul-1

15

1,44

70

00

01

133

189

11,

245

Aug

-11

113,

866

00

00

111

212

58

3,73

0

Sep-

1112

3,02

91

40

03

106

429

64

2,62

3

Oct

-11

00

00

00

00

00

00

Nov

-11

21,

062

00

00

00

00

21,

062

Dec

-11

310

,759

00

00

00

00

310

,759

Jan-

121

6,30

00

00

00

00

01

6,30

0

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: SE

BI.

151


Table 9 : Capital Raised by Listed Companies from the Primary Market through QIPs

Year/MonthNSE BSE Total

No. of issues Amount (` crore)



1 2 3 4 5 6 7

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$ 7 1,035 8 1,043 8 1,043

Apr-11 0 0 0 0 0 0

May-11 1 55 1 55 1 55

Jun-11 1 513 1 513 1 513

Jul-11 2 356 2 356 2 356

Aug-11 0 0 1 8 1 8

Sep-11 0 0 0 0 0 0

Oct-11 1 40 1 40 1 40

Nov-11 0 0 0 0 0 0

Dec-11 1 68 1 68 1 68

Jan-12 1 3 1 3 1 3

$ indicates as on last trading day of Jan. 2012.Source : BSE and NSE.

152


Table 10 : Preferential Allotments Listed at BSE and NSE

Year/ Month

BSE@ NSE@ Common# Total

No.of issues

Amount(` crore)

No.ofissues

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$ 115 2,582 74 3,554 79 15,642 268 21,777

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 9 1,164 5 183 9 348 23 1,695

Jul-11 15 129 8 168 15 1,989 38 2,287

Aug-11 12 127 12 496 5 65 29 688

Sep-11 12 180 10 195 3 123 25 499

Oct-11 14 342 6 61 4 75 24 478

Nov-11 15 76 3 35 3 58 21 169

Dec-11 8 264 8 148 3 106 19 517

Jan-12 15 129 7 386 12 224 34 738

$ indicates as on last trading day of Jan. 2012.@ The issues are only listed at respective exchange.# The issues listed both BSE and NSE.Source: BSE and NSE.

153


Table 11: Private Placement of Corporate Debt Reported to BSE and NSE

MonthNSE@ BSE@ Common# Total

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$ 919 1,55,582 630 46,993 13 11,370 1,562 2,13,945

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

Jul-11 84 15,127 60 7,557 1 100 145 22,785

Aug-11 78 16,690 47 3,779 1 1,500 126 21,969

Sep-11 106 15,725 60 4,054 2 584 168 20,363

Oct-11 92 12,223 57 6,992 0 0 149 19,215

Nov-11 99 15,949 96 5,055 1 40 196 21,044

Dec-11 137 22,639 91 5,611 4 3,646 232 31,896

Jan-12 110 21,992 46 2,572 2 850 158 25,414

$ indicates as on last trading day of Jan. 2012.@ The issues are only listed at respective exchange.# The issues listed both BSE and NSE.Source: BSE and NSE.

154


Table 12: Distribution of Turnover on Cash Segments of Exchanges (` crore)

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

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 5,34,833 52,571

Calcutta 1,612 2,597 Nil Nil

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 22,10,603 2,36,872

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

$ indicates as on last trading day of Jan. 2012.Source: Various Exchanges.

155


able

13:

Cas

h Se

gmen

t of

BSE

Mon

th/

Year

No.

of

Com

pani

es

Liste

d

No.

of

Com

pani

es

Perm

itted

No.

of

com

pani

es

trad

ed

No.

of

Trad

ing

Day

s

No.

of

Trad

es

(Lak

h)

Trad

ed

Qua

ntity

(L

akh)

Turn

over

(`

cror

e)Av

erag

e D

aily

Turn

over

(`

cror

e)

Aver

age

Trad

e Si

ze (`

)

Dem

at

Secu

rities

Tr

aded

(L

akh)

Dem

at

Turn

over

(` cr

ore)

Mar

ket

Capi

talis

atio

n (`

cror

e)

BSE

Sens

ex

Hig

hLo

wCl

ose

1 2

3 4

5 6

7 8

9 10

11

12

13

14

15

16

2008

-094,9

2966

3,194

243

5,408

7,39,6

0011

,00,07

44,5

2720

,342

7,39,2

8710

,99,87

130

,86,07

517

735.7

7697

.497

08.5

2009

-10

4,975

863,2

9724

46,0

5611

,36,51

313

,78,80

95,6

5122

,768

11,35

,750

13,78

,529

61,65

,619

1779

3.095

46.3

1752

7.8

2010

-115,0

6791

2,933

255

5,285

9,90,7

7711

,05,02

74,3

3320

,910

9,89,9

9911

,03,97

868

,39,08

421

108.6

1596

0.219

445.2

2011

-12$

5,115

942,9

3120

73,1

955,2

3,460

5,34,8

332,5

8416

,739

5,23,0

875,3

4,322

60,59

,347

1981

1.115

135.9

1719

3.6

Apr-1

15,0

6991

2,977

1832

762

,262

69,33

63,8

5221

,206

62,21

769

,284

69,08

,090

1981

1.118

976.2

1913

6.0

May

-115,0

7891

2,922

2233

653

,874

59,49

42,7

0417

,692

53,85

359

,459

67,31

,869

1925

3.917

786.1

1850

3.3

Jun-

115,0

8592

2,968

2233

557

,094

59,33

72,6

9717

,713

57,13

859

,300

67,30

,947

1887

3.417

314.4

1884

5.9

Jul-1

15,0

9692

2,976

2133

762

,968

59,55

52,8

3617

,668

62,98

759

,503

66,17

,273

1913

1.718

131.9

1819

7.2

Aug-1

15,0

8692

2,921

2133

156

,342

53,30

12,5

3816

,090

56,28

253

,261

60,61

,626

1844

0.115

765.5

1667

6.8

Sep-1

15,0

9292

2,851

2133

451

,750

54,36

02,5

8916

,295

51,65

054

,320

59,53

,887

1721

1.815

801.0

1645

3.8

Oct-

115,1

0293

2,934

1927

937

,421

43,51

52,2

9015

,611

37,38

443

,461

62,40

,155

1790

8.115

745.4

1770

5.0

Nov

-115,1

0594

2,832

2029

546

,388

43,87

22,1

9414

,861

46,37

143

,828

56,72

,255

1770

2.315

478.7

1612

3.5

Dec-1

15,1

1294

2,896

2126

940

,714

39,49

21,8

8114

,672

40,62

239

,396

53,48

,645

1770

3.115

135.9

1545

4.9

Jan-12

5,115

942,9

3122

352

54,64

852

,571

2,390

14,94

154

,584

52,50

960

,59,34

717

259.0

1535

8.017

193.6

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: BSE

.

156


able

14:

Cas

h Se

gmen

t of

NSE

Mon

th/

Year

No.

of

Com

pani

es

List

ed

No.

of

Com

pani

es

Perm

itted

No.

of

Com

pani

es

Trad

ed

No.

of

Trad

ing

Day

s

No.

of

Trad

es

(Lak

h)

Trad

ed

Qua

ntity

(L

akh)

Turn

over

(`

cror

e)A

vera

ge

Dai

ly

Turn

over

(`

cror

e)

Ave

rage

Tr

ade

Size

(`)

Dem

at

Secu

ritie

s Tr

aded

(L

akh)

Dem

at

Turn

over

(`

cror

e)

Mar

ket

Cap

itali-

satio

n(`

cror

e)

S&P

CN

X N

ifty

Inde

x

Hig

hLo

wC

lose

1 2

3 4

5 6

7 8

9 10

11

12

13

14

15

16

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$

1,64

171

1,52

020

711

,513

12,4

4,00

922

,10,

603

10,6

7919

,201

12,4

4,00

922

,10,

603

59,3

7,03

959

44.5

4531

.251

99.3

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

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93.3

5749

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May

-11

1,58

561

1,46

322

1,15

11,

15,8

572,

33,8

7610

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20,3

211,

15,8

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33,8

7665

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743

5775

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28.7

5560

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Jun-

111,

599

611,

474

221,

159

1,22

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2,22

,457

10,1

1219

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1,22

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2,22

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65,7

4,74

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57.9

5195

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47.4

Jul-1

11,

606

601,

478

211,

158

1,22

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10,9

5319

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1,22

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40.4

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82.0

Aug

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1,61

560

1,48

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102,

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5311

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19,0

361,

33,1

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35,2

5359

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5551

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20.0

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Sep-

111,

622

601,

495

211,

226

1,32

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2,35

,270

11,2

0319

,191

1,32

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2,35

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58,2

0,33

451

69.3

4758

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43.3

Oct

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1,63

166

1,51

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1,00

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051,

93,2

9310

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5399

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28.3

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Nov

-11

1,63

366

1,51

220

1,11

41,

23,8

042,

06,3

4410

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18,5

221,

23,8

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06,3

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39.1

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Dec

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1,64

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88,8

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17,5

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15,1

151,

88,8

8652

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273

5099

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31.2

4624

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Jan-

121,

641

711,

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221,

312

1,48

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2,36

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10,7

6718

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1,48

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2,36

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4588

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$ in

dica

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as o

n la

st t

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.

157


able

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in C

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ent

of B

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Hig

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7 8

9 10

11

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2-Ja

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2,77

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2,82

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10-Ja

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11-Ja

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13-Ja

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2,88

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2,97

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2,74

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35.8

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16-Ja

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17-Ja

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18-Ja

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19-Ja

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2.1

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3.7

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78.1

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20-Ja

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2,94

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23-Ja

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2,89

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24-Ja

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25-Ja

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27-Ja

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18.4

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30-Ja

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2,90

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2,66

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31-Ja

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Sour

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158


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Segm

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7-Ja

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19-Ja

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20-Ja

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23-Ja

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24-Ja

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25-Ja

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1,52

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9610

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27-Ja

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5217

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5204

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30-Ja

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31-Ja

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5120

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5199

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Sour

ce :

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159


able

17:

Tur

nove

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d M

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atio

n at

BSE

and

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dur

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Janu

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2012

Dat

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Turn

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1 2

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7 8

9 10

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12

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14

15

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17

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2-J

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3-Jan

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24-J

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23.6

32.9

1,443

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37

5,395

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26.75

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5-Jan

-1274

71,1

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575,8

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46-J

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1,032

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5,235

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8,938

58.6

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55,06

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23.6

32.9

1,444

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254,2

85

5,383

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26.83

4.72

7-Jan

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115

366.4

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29-J

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63

5,421

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26.58

4.73

10-Ja

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1,190

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6,222

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11,01

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73,71

2 26

2,836

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32,20

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511

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1267

31,1

9826

20.6

25.7

466,3

641,7

3311

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54.3

14.8

13,39

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18,67

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56,81

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23.6

32.9

1,477

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265,7

90

5,559

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26.57

4.78

12-Ja

n-12

850

1,345

2596

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7,271

1,584

12,34

758

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823

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68,16

3 26

8,255

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57,12

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313

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1286

51,5

3327

42.5

31.5

567,1

181,6

5312

,075

58.9

13.7

13,37

,825

18,74

,684

57,40

,194

23.3

32.7

1,478

,717

270,3

62

5,615

,310

26.33

4.81

16-Ja

n-12

606

1,023

2092

.628

.949

5,298

1,217

9,499

55.8

12.8

13,40

,702

18,78

,273

57,42

,419

23.3

32.7

1,481

,116

271,4

52

5,617

,170

26.37

4.83

17-Ja

n-12

793

1,323

2684

.429

.549

7,171

1,574

12,18

058

.912

.913

,63,61

519

,12,03

258

,37,84

223

.432

.81,5

09,50

4 27

5,132

5,7

15,94

626

.414.8

118

-Jan-

1282

61,3

2124

84.5

33.3

537,4

251,4

1012

,187

60.9

11.6

13,62

,408

19,05

,857

57,94

,831

23.5

32.9

1,506

,008

273,0

60

5,672

,992

26.55

4.81

19-Ja

n-12

710

1,289

2509

.128

.351

6,634

1,635

11,63

457

.014

.113

,78,33

019

,32,18

058

,72,87

523

.532

.91,5

25,02

6 27

7,527

5,7

47,97

026

.534.8

320

-Jan-

1287

21,6

1929

48.2

29.6

558,1

201,9

7913

,694

59.3

14.5

13,86

,220

19,44

,840

58,91

,508

23.5

33.0

1,534

,206

279,6

55

5,769

,416

26.59

4.85

23-Ja

n-12

779

1,275

2159

.936

.159

5,934

1,500

10,15

558

.414

.813

,87,27

319

,45,29

458

,89,99

223

.633

.01,5

33,48

9 27

9,458

5,7

64,37

526

.604.8

524

-Jan-

121,0

531,8

2946

73.1

22.5

398,1

722,4

1014

,226

57.4

16.9

14,07

,483

19,76

,787

59,62

,100

23.6

33.2

1,558

,134

285,4

84

5,837

,403

26.69

4.89

25-Ja

n-12

687

1,522

2795

.024

.654

8,156

2,726

15,29

553

.317

.814

,14,22

519

,90,73

760

,16,46

923

.533

.11,5

67,54

2 28

9,656

5,8

92,98

826

.604.9

227

-Jan-

1278

11,5

3327

56.9

28.3

567,8

812,1

3613

,777

57.2

15.5

14,27

,210

20,08

,339

60,69

,343

23.5

33.1

1,581

,648

291,4

41

5,944

,707

26.61

4.90

30-Ja

n-12

611

1,246

2475

.024

.750

6,181

2,063

11,78

452

.517

.513

,96,51

219

,64,29

759

,56,69

523

.433

.01,5

45,96

2 28

4,926

5,8

29,39

026

.524.8

931

-Jan-

1289

11,5

6928

06.5

31.8

568,0

761,9

4713

,696

59.0

14.2

14,23

,862

20,05

,645

60,59

,347

23.5

33.1

1,579

,993

291,4

84

5,937

,039

26.61

4.91

Not

e: B

SE S

ense

x, B

SE 1

00, S

&P

CN

X N

ifty

& C

NX

Nif

ty J

unio

r ha

ve fr

ee fl

oat

mar

ket

capi

tlis

atio

n.A

# =

per

cent

age

shar

e of

Sen

sex

secu

riti

es in

tot

al B

SE t

urno

ver.

B#

= p

erce

ntag

e sh

are

of B

SE-1

00 I

ndex

sec

urit

ies

in t

otal

BSE

tur

nove

r.C

# =

per

cent

age

shar

e of

S&

P C

NX

Nif

ty s

ecur

itie

s in

tot

al N

SE t

urno

ver.

D#

= p

erce

ntag

e sh

are

of C

NX

Nif

ty J

unio

r se

curi

ties

in t

otal

NSE

tur

nove

r .

E# =

per

cent

age

shar

e of

Sen

sex

secu

riri

ties

in t

otal

BSE

Mar

ket

Cap

ital

isat

ion.

F# =

per

cent

age

shar

e of

BSE

-100

Ind

ex s

ecur

itie

s in

tot

al B

SE M

arke

t C

apit

alis

atio

n.G

# =

per

cent

age

shar

e of

S&

P C

NX

Nif

ty s

ecur

itie

s in

tot

al N

SE M

arke

t C

apit

alis

atio

n.H

# =

per

cent

age

shar

e of

CN

X N

ifty

Jun

ior

secu

riti

es in

tot

al N

SE M

arke

t C

apit

alis

atio

n.So

urce

: BSE

and

NSE

.

160


Table 18: City-wise Distribution of Turnover on Cash Segments of BSE and NSE(Percentage share in Turnover)

Sl. No City

BSE NSE2008-09 2009-10 2010-11 Jan-12 2008-09 2009-10 2010-11 Jan-12

1 2 3 4 5 6 7 8 9 10

1 Ahmedabad 7.3 9.9 9.4 9.2 5.3 5.6 6.2 6.0

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 0.0 0.7 0.6 0.5 0.4

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 0.3 2.0 1.6 1.6 8.7

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 1.8

8 Delhi 11.4 12.8 12.8 10.1 15.0 12.9 10.8 0.2

9 Guwahati 0.0 0.0 0.0 0.0 0.0 0.0 0.0 8.0

10 Hyderabad 0.5 0.5 0.5 0.3 1.7 1.8 1.6 0.0

11 Indore 0.5 0.5 0.6 0.4 0.5 0.6 0.6 1.4

12 Jaipur 1.1 1.1 1.0 1.0 0.6 0.5 0.5 0.5

13 Kanpur 0.4 0.6 0.7 0.7 0.1 0.1 0.1 0.3

14 Kolkata 1.7 1.6 2.0 6.2 9.2 7.0 7.5 0.1

15 Ludhiana 0.2 0.3 0.2 0.1 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 36.3 55.9 57.5 58.6 60.0

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 5.4 1.3 1.4 1.6 1.2

21 Others 29.7 27.9 28.0 28.9 5.7 7.4 7.5 9.0

Total 100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

Source: BSE and NSE.

161


Table 19: Component Stocks: BSE Sensex during January 2012

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 Reliance Industries Ltd. 3,274 2,67,015 10.3 1.2 0.6 2.0 17.7 0.12 Infosys Ltd. 287 1,57,528 9.4 1.0 0.5 1.9 -0.8 0.03 Icici Bank Ltd. 1,153 1,03,965 7.3 1.4 0.7 2.3 31.8 0.14 ITC Ltd. 780 1,58,535 7.8 0.6 0.3 1.5 1.0 0.15 Larsen & Toubro Ltd. 122 80,188 5.1 1.2 0.5 2.2 31.7 0.16 Housing Development Finance Corp.Lt 294 1,02,495 6.8 1.0 0.6 1.7 7.3 0.17 HDFC Bank Ltd. 468 1,14,818 6.5 0.9 0.6 1.6 15.0 0.18 State Bank Of India, 635 1,30,877 4.1 1.2 0.5 2.1 27.3 0.19 Tata Consultancy Services Ltd. 196 2,21,264 4.7 1.0 0.5 1.9 -2.6 0.110 Oil And Natural Gas Corporation Ltd 4,278 2,36,003 3.3 0.6 0.2 1.8 7.4 0.211 Bharti Airtel Ltd. 1,899 1,38,572 3.4 0.8 0.3 1.9 6.4 0.112 Tata Steel Ltd. 959 43,261 2.1 1.3 0.6 2.2 34.5 0.113 Tata Motors Ltd. 538 65,565 3.0 1.6 0.5 2.8 36.5 0.114 Bharat Heavy Electricals Ltd. 490 61,325 1.5 0.9 0.3 2.1 4.8 0.115 NTPC Ltd. 8,245 1,41,698 2.0 0.8 0.4 1.7 7.0 0.316 Mahindra & Mahindra Ltd. 307 41,311 2.2 1.0 0.4 2.2 -1.5 0.117 Hindalco Industries Ltd. 192 28,136 1.4 1.5 0.5 2.7 26.7 0.118 Hindustan Unilever Ltd. 216 81,955 2.9 0.4 0.1 1.5 -7.0 0.119 Sterlite Industries (India) Ltd. 336 38,867 1.2 1.4 0.6 2.5 29.1 0.220 Jindal Steel & Power Ltd. 93 50,696 1.6 1.2 0.5 2.3 19.7 0.221 Wipro Ltd. 492 1,01,581 1.8 0.9 0.4 1.8 3.6 0.222 Tata Power Co. Ltd. 237 24,644 1.2 0.8 0.3 1.9 19.0 0.423 Bajaj Auto Ltd. 289 46,326 1.6 0.7 0.3 1.8 0.5 0.224 Maruti Suzuki India Ltd. 144 34,310 1.2 0.8 0.3 2.0 29.1 0.225 Cipla Ltd. 161 28,034 1.3 0.4 0.2 1.4 9.3 0.326 Hero MotoCORP Ltd. 40 37,220 1.3 0.5 0.1 2.0 -2.2 0.127 Coal India Ltd. 6,316 2,05,692 1.4 0.6 0.1 2.2 8.2 0.128 Jaiprakash Associates Ltd. 1,268 47,295 1.3 0.5 0.2 1.5 -2.9 0.329 DLF Ltd. 340 36,664 0.6 1.4 0.4 2.8 17.9 0.130 Sun Pharmaceutical Industries Ltd. 104 56,712 1.6 0.6 0.2 1.7 10.2 0.2

* Beta & R2 are calculated for the period 1/02/2011 to 31/01/2012. Beta measures the degree to which any portfolio of stocks is affected as compared to the effect on the market as a whole. The coefficient of determination (R2) 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 1/02/2011 to 31/01/2012.* 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 January 01, 2012 to January 31, 2012.

Source: BSE.

162


Table 20: Component Stocks : S&P CNX Nifty Index during January 2012Sl.

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 11,134 0.7 0.7 0.3 1.3 5.0 0.1 2 Ambuja Cements Ltd. 306.7 12,115 0.8 0.8 0.2 1.4 3.6 0.1 3 Axis Bank Ltd. 412.6 27,848 1.8 1.4 0.6 2.8 33.0 0.1 4 Bajaj Auto Ltd. 289.4 21,489 1.4 0.7 0.3 2.8 0.6 0.1 5 Bharti Airtel Ltd. 1,898.8 43,979 2.8 0.8 0.3 2.5 6.5 0.1 6 Bharat Heavy Electricals Ltd. 489.5 19,799 1.3 1.0 0.3 3.3 4.9 0.1 7 Bharat Petroleum Corporation Ltd. 361.5 7,393 0.5 0.6 0.2 2.3 19.8 0.1 8 Cairn India Ltd. 1,902.9 12,361 0.8 0.8 0.3 1.8 8.0 0.1 9 Cipla Ltd. 160.6 17,773 1.1 0.5 0.2 1.3 9.5 0.1 10 Coal India Ltd. 6,316.4 20,667 1.3 0.6 0.1 2.6 8.8 0.1 11 DLF Ltd. 339.6 7,850 0.5 1.4 0.4 3.0 18.0 0.1 12 Dr. Reddy's Laboratories Ltd. 84.8 21,311 1.4 0.6 0.3 1.3 7.1 0.1 13 GAIL (India) Ltd. 1,268.5 16,768 1.1 0.5 0.2 1.3 -2.7 0.1 14 Grasim Industries Ltd. 91.7 16,583 1.1 0.7 0.3 1.6 5.0 0.1 15 HCL Technologies Ltd. 138.2 10,801 0.7 1.1 0.4 1.8 12.8 0.1 16 Housing Development Finance Corporation Ltd. 294.8 92,725 5.9 1.0 0.5 1.2 7.0 0.1 17 HDFC Bank Ltd. 468.1 88,418 5.6 1.0 0.6 1.3 15.3 0.1 18 Hero MotoCorp Ltd. 39.9 17,773 1.1 0.5 0.1 2.2 -2.2 0.1 19 Hindalco Industries Ltd. 191.5 18,855 1.2 1.5 0.5 3.2 26.5 0.1 20 Hindustan Unilever Ltd. 216.1 38,886 2.5 0.4 0.1 1.2 -7.0 0.1 21 ICICI Bank Ltd. 1,152.3 1,03,957 6.6 1.5 0.7 2.4 31.8 0.1 22 Infrastructure Development Finance Co. Ltd. 1,463.5 15,734 1.0 1.4 0.5 2.6 45.2 0.1 23 Infosys Ltd. 287.1 1,32,393 8.4 1.0 0.4 2.1 -0.8 0.1 24 I T C Ltd. 779.6 1,09,642 6.9 0.6 0.3 1.3 1.3 0.1 25 Jindal Steel & Power Ltd. 93.5 20,967 1.3 1.2 0.5 2.2 19.6 0.1 26 Jaiprakash Associates Ltd. 425.3 7,890 0.5 1.9 0.5 3.3 33.3 0.1 27 Kotak Mahindra Bank Ltd. 369.6 18,455 1.2 1.2 0.5 2.7 15.8 0.1 28 Larsen & Toubro Ltd. 122.4 70,437 4.5 1.2 0.5 2.7 31.8 0.1 29 Mahindra & Mahindra Ltd. 307.0 30,953 2.0 1.1 0.4 2.4 -1.2 0.1 30 Maruti Suzuki India Ltd. 144.5 15,699 1.0 0.8 0.3 2.6 29.2 0.1 31 NTPC Ltd. 8,245.5 22,009 1.4 0.8 0.4 1.7 7.1 0.1 32 Oil & Natural Gas Corporation Ltd. 4,277.7 37,239 2.4 0.6 0.2 1.3 7.6 0.1 33 Punjab National Bank 316.8 12,523 0.8 0.8 0.3 2.4 20.5 0.1 34 Power Grid Corporation of India Ltd. 4,629.7 14,737 0.9 0.6 0.3 1.3 4.0 0.1 35 Ranbaxy Laboratories Ltd. 211.0 6,877 0.4 0.6 0.2 2.0 11.0 0.1 36 Reliance Communications Ltd. 1,032.0 6,583 0.4 1.6 0.4 2.5 41.7 0.1 37 Reliance Industries Ltd. 3,274.6 1,37,858 8.7 1.2 0.6 2.4 17.9 0.1 38 Reliance Infrastructure Ltd. 263.2 7,276 0.5 1.4 0.3 3.1 57.2 0.1 39 Reliance Power Ltd. 2,805.1 5,555 0.4 1.2 0.4 2.6 42.6 0.1 40 Steel Authority of India Ltd. 4,130.5 5,955 0.4 1.3 0.5 2.5 24.7 0.1 41 State Bank of India 635.0 53,146 3.4 1.2 0.5 2.0 27.3 0.1 42 Sesa Goa Ltd. 86.9 8,500 0.5 1.2 0.3 3.3 33.4 0.1 43 Siemens Ltd. 68.1 6,221 0.4 0.7 0.3 1.7 13.9 0.1 44 Sterlite Industries (India) Ltd. 336.2 16,237 1.0 1.5 0.6 3.1 28.9 0.1 45 Sun Pharmaceutical Industries Ltd. 103.6 20,610 1.3 0.6 0.2 1.2 10.2 0.1 46 Tata Motors Ltd. 538.3 42,610 2.7 1.6 0.5 2.0 36.4 0.1 47 Tata Power Co. Ltd. 237.3 16,814 1.1 0.8 0.3 2.0 19.1 0.1 48 Tata Steel Ltd. 959.2 29,960 1.9 1.3 0.6 2.7 34.4 0.1 49 Tata Consultancy Services Ltd. 195.7 57,453 3.6 1.0 0.4 1.5 -2.4 0.1 50 Wipro Ltd. 491.6 21,174 1.3 0.9 0.4 1.7 3.8 0.1

* Beta & R2 are calculated for the period 1/02/2011 to 31/01/2012. Beta measures the degree to which any portfolio of stocks is affected as compared to the effect on the market as a whole. The coefficient of determination (R2) 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 1/02/2011 to 31/01/2012.* 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. 50 lakh. It is calculated for the period January 01, 2012 to January 31, 2012.

* Impact Cost for S&P CNX Nifty is the weightage average impact costSource: NSE.

163


Table 21: Advances/Declines in Cash Segment of BSE and NSE (No. of Securities)

Month/DateBSE NSE

Advances Declines Advance / Decline Ratio

Advances Declines Advance / Decline Ratio

1 2 3 4 5 6 7

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

Jul-11 1,775 1,524 1.2 872 637 1.4

Aug-11 610 2,699 0.2 175 1,339 0.1

Sep-11 1,265 2,042 0.6 544 980 0.6

Oct-11 975 2,332 0.4 405 1,125 0.4

Nov-11 937 2,385 0.4 390 1,152 0.3

Dec-11 522 2,802 0.2 140 1,405 0.1

Jan-12 2,301 1,021 2.3 1,195 359 3.3

Note: Advance/Decline is calculated based on the average price methodology.Source: BSE and NSE.

164


Table 22: Trading Frequency in Cash Segment of BSE and NSE

Month/ Year

BSE NSENo. of

Companies Listed

No. of companies

Traded

Percent of Traded to

Listed

No. of Companies

Listed

No. of companies

Traded

Percent of Traded to

Listed1 2 3 4 5 6 7

Aug-10 4,996 3,010 60.2 1,504 1,389 92.4

Sep-10 4,997 3,055 61.1 1,512 1,395 92.3

Oct-10 5,019 3,076 61.3 1,530 1,415 92.5

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 1,578 1,453 92.1

May-11 5,078 2,924 57.6 1,585 1,463 92.3

Jun-11 5,085 2,968 58.4 1,599 1,474 92.2

Jul-11 5,096 2,976 58.4 1,606 1,478 92.0

Aug-11 5,086 2,921 57.4 1,615 1,489 92.2

Sep-11 5,092 2,851 56.0 1,622 1,495 92.2

Oct-11 5,102 2,934 57.5 1,631 1,510 92.6

Nov-11 5,105 2,832 55.5 1,633 1,512 92.6

Dec-11 5,112 2,896 56.7 1,557 1,520 97.6

Jan-12 5,115 2,931 57.3 1,557 1,520 97.6

Source: BSE and NSE.

165


Table 23: Volatility* of Major Indices (Percent)

Month/Year BSE Sensex BSE 100 Index BSE 500 S&P CNX Nifty

CNX Nifty Junior

S&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$ 1.3 1.2 1.2 1.3 1.2 1.2

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

Jul-11 1.0 0.9 0.9 1.0 1.0 0.9

Aug-11 1.5 1.5 1.4 1.2 1.0 1.1

Sep-11 1.6 1.5 1.4 1.6 1.4 1.4

Oct-11 1.6 1.5 1.3 1.6 1.2 1.4

Nov-11 1.3 1.3 1.2 1.3 1.2 1.2

Jan-12 1.1 1.1 1.1 1.1 1.2 1.1

$ indicates as on last trading day of Jan. 2012.* Volatility is calculated as the standard deviation of the natural log of daily returns in indices for the respective period.Source: BSE and NSE.

166


Table 24: Percentage Share of Top ‘N’ Securities/Members in Turnover in Cash Segment(Percent)

Month/Year BSE NSETop 5 10 25 50 100 5 10 25 50 100

1 2 3 4 5 6 7 8 9 10 11 Securities

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$ 14.9 25.0 40.8 55.4 69.6 17.9 29.4 47.7 64.5 80.6

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

Jul-11 20.3 28.3 41.9 55.3 71.3 13.3 21.9 39.5 55.9 73.6

Aug-11 14.8 23.0 37.6 51.7 66.8 16.4 27.2 46.0 62.1 78.2

Sep-11 16.1 24.3 40.9 56.0 70.5 18.5 28.2 46.9 63.3 79.5

Oct-11 17.1 26.5 42.9 57.3 72.2 20.0 31.4 50.5 65.6 81.1

Nov-11 17.5 25.6 39.7 54.2 69.7 20.4 31.6 49.4 65.4 81.2

Dec-11 19.6 32.4 48.7 62.7 75.5 21.6 33.3 51.6 67.6 83.0

Jan-12 14.9 25.0 40.8 55.4 69.6 17.9 29.4 47.7 64.5 80.6

Members2008-09 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$ 18.5 27.5 42.4 57.6 74.4 15.6 26.2 46.8 63.6 78.3

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

Jul-11 16.0 23.6 39.2 54.4 72.0 14.8 24.7 44.6 60.5 75.6

Aug-11 15.1 22.9 38.8 54.7 72.0 15.2 26.1 46.8 63.3 77.8

Sep-11 15.4 25.6 40.2 55.3 72.6 14.2 24.5 45.7 62.6 77.5

Oct-11 16.3 24.9 39.9 55.5 72.8 14.4 25.5 46.5 62.4 77.4

Nov-11 16.9 25.1 40.7 56.5 72.5 15.4 26.6 48.0 63.8 78.3

Dec-11 17.5 26.5 42.5 57.5 73.7 16.7 27.6 48.3 64.3 78.8

Jan-12 18.5 27.5 42.4 57.6 74.4 15.6 26.2 46.8 63.6 78.3

$ indicates as on last trading day of Jan. 2012.Source: BSE and NSE.

167


able

25:

Set

tlem

ent

Stat

isti

cs fo

r C

ash

Segm

ent

of B

SE

Mon

th/

Year

No. o

f Tr

ades

(Lak

h)

Trad

ed

Quan

tity

(Lak

h)

Deliv

ered

Quan

tity

(Lak

h)

Perce

nt

of De

livere

d Qu

antit

y to

Trad

ed

Quan

tity

Turn

over

(` cro

re)De

livere

d Va

lue

(` cro

re)

Perce

nt

of De

livere

d Va

lue

to T

otal

Turn

over

Deliv

ered

Quan

tity

in De

mat

Mod

e (L

akh)

Perce

nt

of De

mat

Deliv

ered

Quan

tity

to T

otal

Deliv

ered

Quan

tity

Deliv

ered

Value

in

Dema

t M

ode

(` cro

re)

Perce

nt

of De

mat

Deliv

ered

Value

to

Tota

l De

livere

d Va

lue

Shor

t De

livery

(A

uctio

ned

quan

tity)

(Lak

h)

Perce

nt

of Sh

ort

Deliv

ery

to

Deliv

ery

Quan

tity

Unrec

tified

Ba

d De

livery

(A

uctio

ned

quan

tity)

(Lak

h)

Perce

nt of

Un

rectif

ied

Bad

Deliv

ery to

De

livery

Qu

antit

y

Fund

s Pa

y-in

(` cro

re)

Secu

rities

Pa

y-in

(` cro

re)

Settl

emen

t Gu

arant

ee Fu

nd

(` cro

re)

12

34

56

78

910

1112

1314

1516

1718

19

2008

-095,4

087,3

9,601

1,96,6

3026

.611

,00,07

42,3

0,332

20.9

1,96,0

9699

.72,3

0,173

99.9

740

0.40.1

0.084

,841

2,30,3

323,6

24

2009

-10

6,056

11,36

,513

3,63,5

7832

.013

,78,80

93,1

1,364

22.6

3,63,5

0010

0.03,1

1,352

100.0

1,769

0.50.0

0.099

,102

3,11,3

644,3

98

2010

-115,2

859,9

0,776

3,76,8

9038

.011

,05,02

73,0

2,126

27.3

3,74,2

7799

.33,0

2,082

100.0

1,323

0.40.0

0.088

,072

3,02,1

264,1

38

2011

-12$

3,195

5,23,4

582,0

5,203

39.2

5,34,8

331,4

3,524

26.8

2,05,1

9810

0.01,4

3,523

100.0

762

0.40.0

0.050

,770

1,43,5

243,4

71

Apr-1

132

762

,262

21,92

535

.269

,336

17,95

225

.921

,924

100.0

17,95

210

0.083

0.40.0

0.07,3

6417

,952

4,082

May-1

133

653

,874

21,46

639

.859

,494

15,82

826

.621

,465

100.0

15,82

810

0.088

0.40.0

0.05,2

6415

,828

3,989

Jun-11

335

57,09

321

,629

37.9

59,33

715

,983

26.9

21,62

810

0.015

,982

100.0

870.4

0.00.0

5,772

15,98

33,9

63

Jul-11

337

62,96

923

,260

36.9

59,55

516

,217

27.2

23,25

910

0.016

,217

100.0

820.4

0.00.0

5,739

16,21

73,7

95

Aug-1

133

156

,341

22,36

839

.753

,301

15,04

928

.222

,368

100.0

15,04

910

0.037

0.20.0

0.04,9

3515

,049

3,937

Sep-11

334

51,74

820

,058

38.8

54,36

014

,094

25.9

20,05

810

0.014

,094

100.0

124

0.60.0

0.04,4

1114

,094

3,747

Oct-1

127

937

,421

15,24

440

.743

,515

11,40

826

.215

,242

100.0

11,40

810

0.057

0.40.0

0.04,4

8811

,408

3,627

Nov-1

129

546

,388

21,06

945

.443

,872

11,68

426

.621

,069

100.0

11,68

410

0.010

40.5

0.00.0

4,244

11,68

43,5

67

Dec-1

126

940

,714

17,04

541

.939

,492

11,52

129

.217

,045

100.0

11,52

110

0.043

0.30.0

0.04,5

2611

,521

3,472

Jan-12

352

54,64

821

,140

38.7

52,57

113

,788

26.2

21,14

010

0.013

,788

100.0

550.3

0.00.0

4,028

13,78

83,4

71

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: BSE

.

168


able

26:

Set

tlem

ent

Stat

isti

cs fo

r C

ash

Segm

ent

of N

SE

M

onth

/ Ye

arNo

. of

Trad

es (L

akh)

Trad

ed

Qua

ntity

(L

akh)

Deliv

ered

Qua

ntity

(L

akh)

Perce

nt

of

Deliv

ered

Qua

ntity

to

Tra

ded

Qua

ntity

Turn

over

(`

crore)

Deliv

ered

Valu

e (`

crore)

Perce

nt of

De

livere

d Va

lue

to T

otal

Turn

over

Deliv

ered

Qua

ntity

in

Dem

at M

ode

(Lak

h)

Perce

nt

of D

emat

Deliv

ered

Qua

ntity

to

Tot

al De

livere

d Q

uant

ity

Deliv

ered

Valu

e in

Dem

at M

ode

(` cro

re)

Perce

nt

of D

emat

Deliv

ered

Valu

e to

Tot

al De

livere

d Va

lue

Shor

t De

livery

(A

uctio

ned

quan

tity)

(Lak

h)

Perce

nt

of Sh

ort

Deliv

ery

to

Deliv

ery

Unrec

tified

Ba

d De

livery

(A

uctio

ned

quan

tity)

(Lak

h)

Perce

nt of

Un

rectif

ied

Bad

Deliv

ery to

De

livery

Fund

s Pa

y-in

(` cro

re)

Secu

rities

Pa

y-in

(` cro

re)

Settl

emen

t Gu

aran

tee

Fund

(`

crore)

12

34

56

78

910

1112

1314

1516

1718

19

2008

-0913

,639

14,18

,928

3,03,2

9921

.427

,49,45

06,1

0,498

22.2

3,03,2

9910

0.06,1

0,498

100.0

625

0.20.0

0.02,2

0,704

6,10,4

984,8

44

2009

-1016

,788

22,05

,878

4,73,9

5221

.541

,29,21

49,1

6,460

22.2

4,73,9

5210

0.09,1

6,460

100.0

862

0.20.0

0.02,7

8,387

9,16,4

605,5

47

2010

-1115

,480

18,10

,910

4,97,3

6727

.535

,65,19

59,7

8,015

27.4

4,97,3

6710

0.09,7

8,015

100.0

903

0.20.0

0.02,9

3,357

9,79,2

695,1

00

2011

-12$

11,49

412

,36,13

33,5

0,372

28.3

22,09

,089

6,21,4

8428

.13,5

0,372

100.0

6,21,4

8410

0.061

30.2

0.00.0

1,98,3

076,2

2,219

4,632

Apr-1

11,0

721,2

9,530

38,19

429

.52,3

0,464

65,79

028

.538

,194

100.0

65,79

010

0.010

90.3

0.00.0

20,35

865

,874

5,186

May

-111,1

581,1

8,678

34,84

529

.42,3

7,410

68,67

128

.934

,845

100.0

68,67

110

0.011

30.3

--

20,52

668

,823

4,946

Jun-1

11,1

561,1

9,392

32,85

627

.52,2

0,179

62,50

428

.432

,856

100.0

62,50

410

0.043

0.1-

-18

,508

62,57

54,9

00

Jul-1

11,1

471,1

9,103

34,82

729

.22,2

6,774

66,03

129

.134

,827

100.0

66,03

110

0.047

0.1-

-19

,660

66,10

54,8

06

Aug-1

11,2

521,3

5,926

39,96

829

.42,4

1,215

69,61

328

.939

,968

100.0

69,61

310

0.048

0.1-

-22

,199

69,67

44,7

32

Sep-1

11,1

601,2

5,396

32,84

726

.22,2

0,544

58,74

126

.632

,847

100.0

58,74

110

0.044

0.1-

-22

,571

58,80

64,7

91

Oct-1

11,0

601,0

5,178

30,60

029

.12,0

2,460

56,84

928

.130

,600

100.0

56,84

910

0.052

0.2-

-19

,270

56,90

64,6

77

Nov-1

11,1

171,2

2,468

35,98

929

.42,0

4,909

58,43

228

.535

,989

100.0

58,43

210

0.055

0.2-

-18

,643

58,48

64,5

13

Dec-1

11,1

051,1

6,298

32,48

827

.91,9

8,607

54,24

127

.332

,488

100.0

54,24

110

0.039

0.1-

-18

,070

54,28

34,3

63

Jan-12

1,267

1,44,1

6437

,757

26.2

2,26,5

2660

,612

26.8

37,75

710

0.060

,612

100.0

630.2

--

18,50

260

,687

4,632

$ in

dica

tes a

s on

last

trad

ing

day

of Ja

n. 2

012.

Sour

ce: N

SE.

169


able

27:

Equ

ity

Der

ivat

ives

Seg

men

t at

BSE

(Tur

nove

r in

Not

iona

l Val

ue)

Mon

th/

Year

No.

of

Trad

ing

Days

Inde

x Fut

ures

Stoc

k Fut

ures

Inde

x Opt

ions

Stoc

k Opt

ions

Total

Ope

n In

terest

at

the e

nd of

Ca

llPu

tCa

llPu

t

No. of

Cont

racts

Turn

over

(`

cror

e)

No. of

Cont

racts

Turn

over

(`

cror

e)N

o. of

Co

ntra

cts Tu

rnov

er(`

cror

e)

No. of

Cont

racts

Turn

over

(`

cror

e)N

o. of

Co

ntra

cts Tu

rnov

er

(` cr

ore)

No.

of

Cont

racts

Turn

over

(`

cror

e)

No. of

Cont

racts

Turn

over

(`

cror

e)

No. of

Cont

racts

Valu

e(`

cror

e)

1 2

3 4

5 6

7 8

9 10

11

12

13

14

15

16

17

18

2008

-0924

34,9

5,830

11,75

729

99

251

612

23

00

00

4,96,5

0211

,775

220

2009

-1024

43,7

4496

60

5,276

138

00

00

00

9,026

234

00

2010

-1125

45,6

1315

40

00

010

00

00

05,6

2315

44

0

2011

-12$

207

4,369

,942

106,6

9622

7,515

6,997

825,9

9220

,838

395,6

389,6

2235

,071

1,143

1,573

445,8

55,73

114

5,339

34,04

01,0

84

Apr-1

118

353

1082

33,3

4899

00

1,142

360

04,9

2514

81

0

May

-1122

391

00

00

00

9,015

282

00

9,054

283

10

Jun-

1122

487

132

00

00

01,9

2958

00

2,418

7238

1

Jul-1

121

706

2053

216

301

00

00

00

1,268

3618

0

Aug-1

121

428

111,7

3647

00

00

00

00

2,164

583

0

Sep-1

121

19,30

347

47,7

5924

14,5

4112

086

291

22

031

,782

840

633

16

Oct-

1119

1,07,4

172,7

3046

,749

1,378

13,66

335

67,9

0720

011

,735

365

1,031

321,8

8,502

5,061

2,629

71

Nov

-1120

7,72,1

9019

,253

33,04

81,2

2248

,197

1,161

33,13

61,0

2611

,157

400

540

128,9

8,268

23,07

221

,553

521

Dec-1

121

15,69

,569

37,54

573

,314

2,152

2,17,8

095,4

4563

,791

1,473

20

00

19,24

,485

46,61

545

,176

1,218

Jan-12

2218

,99,45

046

,639

64,29

31,9

405,3

8,404

13,65

729

0,718

6,920

00

00

27,92

,865

69,15

534

,040

1,084

$ in

dica

tes a

s on

last

trad

ing

day

of Ja

n. 2

012.

Not

iona

l Tur

nove

r = (S

trik

e Pr

ice

+ P

rem

ium

) * Q

uant

ity.

Sour

ce: B

SE.

170


able

28:

Equ

ity

Der

ivat

ives

Seg

men

t at

NSE

(Tur

nove

r in

Not

iona

l Val

ue)

Mon

th/

Year

No.

of Tr

ading

Da

ys

Inde

x Fut

ures

Stoc

k Fut

ures

Inde

x Opt

ions

Stoc

k Opt

ions

Total

Open

Inter

est at

th

e end

ofCa

llPu

tCa

llPu

t

No. o

f Co

ntrac

ts Tu

rnov

er (`

crore)

No. o

f Co

ntrac

ts Tu

rnov

er (`

crore)

No. o

f Co

ntrac

ts Tu

rnov

er (`

crore)

No. o

f Co

ntrac

ts Tu

rnov

er (`

crore)

No. o

f Co

ntrac

ts Tu

rnov

er (`

crore)

No. o

f Co

ntrac

ts Tu

rnov

er (`

crore)

No. o

f Co

ntrac

ts Tu

rnov

er (`

crore)

No. o

f Co

ntrac

ts Va

lue

(` cro

re)

1 2

3 4

5 6

7 8

9 10

11

12

13

14

15

16

17

18

2008

-0924

321

,04,28

,103

35,70

,1112

2,15,7

7,980

34,79

,642

11,04

,31,97

420

,02,54

410,1

6,56,4

7017

,28,95

797

,62,96

81,7

1,843

35,33

,002

57,38

465

,73,90

,497

1,10,1

0,482

32,27

,759

57,70

5

2009

-1024

417

,83,06

,889

39,34

,3891

4,55,9

1,240

51,95

,247

16,76

,83,92

840

,49,26

617,3

6,95,5

9539

,78,69

91,0

6,14,1

473,8

9,158

34,02

,123

1,16,9

0767

,92,93

,922

1,76,6

3,665

34,89

,790

97,97

8

2010

-1125

416

,50,23

,653

43,56

,7551

8,60,4

1,459

54,95

,757

31,45

,33,24

490

,90,70

233,6

1,05,3

1392

,74,66

42,4

2,73,5

607,7

7,109

82,34

,833

2,53,2

3510

3,42,1

2,062

2,92,4

8,221

36,90

,373

1,01,8

16

2011

-12$

207

12,14

,07,24

229

,48,88

812,9

7,75,8

0732

,38,67

535

,84,85

,293

96,20

,9863

5,97,4

3,689

91,64

,989

1,96,7

8,289

5,19,6

7594

,52,57

92,3

5,509

99,85

,42,89

92,5

7,28,7

2341

,24,15

51,0

7,672

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

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

May

-1122

1,18,8

8,838

3,05,7

451,3

4,74,4

553,3

6,689

3,62,8

0,374

10,27

,313

3,17,5

4,162

8,65,5

8418

,73,59

550

,101

7,70,4

0119

,707

9,60,4

1,825

26,05

,138

42,40

,222

1,12,1

12

Jun-1

122

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

18,65

,161

47,52

07,3

9,167

18,21

49,0

7,44,3

3924

,38,17

732

,77,32

491

,467

Jul-1

121

1,00,4

8,859

2,65,6

411,2

2,60,0

203,4

9,891

3,33,9

5,753

9,57,6

473,2

8,72,6

849,1

0,079

19,51

,542

57,73

48,4

8,888

23,97

49,1

3,77,7

4625

,64,96

537

,78,04

01,0

2,002

Aug-1

121

1,45,8

5,694

3,47,1

771,3

3,66,5

373,3

3,791

4,19,7

4,923

11,07

,825

4,41,6

6,928

11,01

,698

19,42

,086

51,80

18,4

9,593

21,45

711

,68,85

,761

29,63

,749

44,46

,681

1,09,0

23

Sep-1

121

1,47,9

6,435

3,46,8

261,3

3,29,9

263,2

6,290

3,93,0

8,648

10,17

,491

4,38,1

3,388

10,68

,239

20,17

,590

51,57

510

,39,65

824

,843

11,43

,05,64

528

,35,26

438

,68,96

593

,359

Oct-1

119

1,12,8

9,988

2,65,9

451,1

3,58,6

252,7

9,971

3,02,0

5,915

7,91,2

133,3

7,44,6

888,2

9,905

16,36

,032

43,37

29,0

5,536

22,81

48,9

1,40,7

8422

,33,22

143

,72,20

71,1

3,207

Nov-1

120

1,34,6

9,578

3,12,1

391,3

3,98,1

653,0

5,421

4,08,9

8,635

10,55

,219

3,96,4

4,152

9,72,0

1719

,27,40

547

,176

10,24

,494

24,58

611

,03,62

,429

27,16

,559

44,95

,500

1,04,1

96

Dec-1

121

1,38,8

6,601

3,07,1

981,2

7,55,9

932,7

9,921

4,52,7

3,935

11,32

,427

4,16,0

6,078

9,76,3

2420

,31,46

446

,806

11,93

,943

26,18

811

,67,48

,014

27,68

,863

35,31

,984

79,86

7

Jan-12

221,0

8,56,4

752,5

0,738

1,39,5

8,030

3,50,8

482,9

8,04,3

427,5

9,484

3,26,1

9,699

7,83,0

5826

,78,35

870

,805

14,79

,438

36,55

49,1

3,96,3

4222

,51,48

741

,24,15

51,0

7,672

$ in

dica

tes a

s on

last

trad

ing

day

of Ja

n. 2

012.

Not

iona

l Tur

nove

r = (S

trik

e Pr

ice

+ P

rem

ium

) * Q

uant

ity.

Sour

ce: N

SE.

171


able

29:

Equ

ity

Der

ivat

ives

Tra

ding

at

NSE

dur

ing

Janu

ary

2012

(Tur

nove

r in

Not

iona

l Val

ue)

Dat

e

Inde

x Fu

ture

s S

tock

Fut

ures

Inde

x O

ptio

nsSt

ock

Opt

ions

Tota

l Tur

nove

rO

pen

Inte

rest

at

the e

nd o

f the

day

C

alls

P

uts

C

alls

P

uts

No.

of

Cont

ract

s Tu

rnov

er

(` cr

ore)

No.

of

Cont

ract

s Tu

rnov

er

(` cr

ore)

No.

of

Cont

ract

sTurn

over

(`

cror

e)N

o. o

f Co

ntra

ctsTu

rnov

er

(` cr

ore)

No.

of

Cont

ract

sTurn

over

(`

cror

e)N

o. o

f Co

ntra

ctsTu

rnov

er

(` cr

ore)

No.

of

Cont

ract

s Turn

over

(`

cror

e)N

o. o

f co

ntra

cts

Valu

e (`

cror

e)

1 2

3 4

5 6

7 8

9 10

11

12

13

14

15

16

17

2-Jan

-124,0

6,993

8,576

3,66,3

638,1

2510

,20,83

225

,051

8,94,9

3320

,298

65,50

31,5

4537

,770

814

27,92

,394

64,40

937

,09,53

184

,152

3-Jan

-125,1

8,784

11,28

44,4

5,577

10,37

013

,43,52

833

,452

12,55

,352

28,69

293

,278

2,291

44,08

61,0

1937

,00,60

587

,109

38,81

,219

90,90

3

4-Jan

-125,1

2,984

11,24

84,5

5,235

10,77

112

,68,71

831

,641

12,92

,420

29,73

078

,924

1,992

41,65

71,0

0336

,49,93

886

,385

39,44

,459

92,31

3

5-Jan

-124,0

2,452

8,869

4,23,0

0210

,127

9,66,5

8224

,153

10,70

,236

24,59

279

,746

1,983

42,60

01,0

0829

,84,61

870

,733

41,19

,205

96,50

0

6-Jan

-126,4

7,878

14,07

05,1

2,150

11,82

116

,32,30

040

,519

16,86

,102

38,77

594

,807

2,319

51,15

11,2

0446

,24,38

81,0

8,709

42,23

,085

99,01

8

7-Jan

-1249

,528

1,136

53,04

41,1

601,3

4,875

3,399

1,18,0

152,7

5015

,003

337

4,554

100

3,75,0

198,8

8342

,50,32

099

,573

9-Jan

-124,6

7,660

10,19

74,0

9,968

9,297

13,69

,973

34,03

411

,77,54

827

,208

84,83

92,0

5738

,394

913

35,48

,382

83,70

543

,60,68

01,0

2,197

10-Ja

n-12

5,49,0

1512

,343

5,25,8

2712

,423

16,23

,441

40,77

516

,50,53

238

,396

1,11,3

082,7

1352

,124

1,213

45,12

,247

1,07,8

6345

,85,62

01,1

0,075

11-Ja

n-12

3,99,6

469,0

275,6

6,850

13,49

511

,97,88

930

,236

11,95

,553

28,00

21,4

1,675

3,655

70,60

91,7

8835

,72,22

286

,203

47,21

,127

1,14,1

50

12-Ja

n-12

5,73,9

6613

,024

6,26,5

6315

,742

15,19

,283

38,13

914

,68,62

234

,723

1,80,0

345,2

2199

,143

2,696

44,67

,611

1,09,5

4647

,85,78

51,1

5,591

13-Ja

n-12

5,48,9

6812

,453

6,79,2

7916

,884

15,74

,191

39,62

816

,66,16

839

,440

1,56,5

144,2

5693

,173

2,277

47,18

,293

1,14,9

3849

,19,78

41,1

9,839

16-Ja

n-12

4,00,1

099,0

835,2

0,202

12,84

412

,27,92

230

,920

12,30

,262

29,19

91,2

1,289

3,216

70,48

71,7

3635

,70,27

186

,999

49,92

,754

1,21,8

14

17-Ja

n-12

4,55,5

2110

,641

6,67,9

1016

,921

16,17

,680

41,10

919

,71,34

247

,165

1,70,8

654,5

541,0

1,390

2,527

49,84

,708

1,22,9

1652

,07,87

41,2

9,369

18-Ja

n-12

4,35,6

6910

,141

7,23,8

1718

,010

13,61

,136

34,62

716

,32,18

339

,286

1,69,1

094,4

4198

,642

2,426

44,20

,556

1,08,9

3052

,25,38

01,2

9,345

19-Ja

n-12

4,68,2

8811

,121

7,57,3

8419

,179

13,71

,799

35,11

617

,80,01

843

,026

1,44,2

553,7

4285

,583

2,046

46,07

,327

1,14,2

3053

,17,46

61,3

3,444

20-Ja

n-12

6,93,5

0116

,704

10,47

,586

27,23

717

,20,35

344

,197

21,16

,940

51,92

61,6

8,850

4,397

1,03,0

262,4

8258

,50,25

61,4

6,944

55,26

,499

1,39,5

77

23-Ja

n-12

4,48,8

1410

,887

9,73,8

6025

,382

12,01

,841

30,99

115

,57,86

738

,250

1,44,9

153,8

8996

,457

2,428

44,23

,754

1,11,8

2856

,70,50

11,4

3,247

24-Ja

n-12

8,58,1

0420

,851

13,27

,062

34,50

724

,24,48

062

,893

31,98

,122

79,36

01,8

3,305

4,907

1,12,5

982,7

8881

,03,67

12,0

5,306

56,89

,369

1,46,2

13

25-Ja

n-12

7,20,4

1217

,663

12,26

,773

32,53

725

,44,44

566

,420

27,12

,775

68,58

61,6

2,321

4,527

78,68

92,0

4474

,45,41

51,9

1,777

34,92

,689

90,42

627

-Jan-

123,6

8,269

8,987

5,12,1

1013

,861

7,24,0

0019

,542

9,50,7

9023

,694

96,79

42,7

4844

,020

1,128

26,95

,983

69,95

938

,01,64

299

,240

30-Ja

n-12

4,39,1

1010

,540

5,24,5

4013

,866

8,87,9

0823

,792

9,95,9

5724

,883

93,68

32,6

1451

,648

1,343

29,92

,846

77,03

838

,96,63

099

,462

31-Ja

n-12

4,90,8

0411

,895

6,12,9

2816

,288

10,71

,166

28,85

19,9

7,962

25,07

71,2

1,341

3,399

61,63

71,5

7033

,55,83

887

,079

41,24

,155

1,07,6

72

N

otio

nal V

alue

of O

utst

andi

ng C

ontr

acts

for O

PTID

X -

Ope

n In

tere

st *

Clo

se p

rice

S&

P C

NX

Nift

y.N

otio

nal T

urno

ver =

(Str

ike

Pric

e +

Pre

miu

m) *

Qua

ntity

.In

dex

Futu

res,

Inde

x O

ptio

ns, S

tock

Opt

ions

and

Sto

ck F

utur

es w

ere

intr

oduc

ed in

Sep

tem

ber 2

000,

Sep

tem

ber 2

001,

Sep

tem

ber 2

001

and

Nov

embe

r 200

1, re

spec

tivel

y.O

pen

inte

rest

val

ue is

com

pute

d as

Und

erly

ing

clos

e pr

ice*

Qua

ntity

.So

urce

: N

SE.

172


able

30:

Set

tlem

ent

Stat

isti

cs in

Equ

ity

Der

ivat

ives

Seg

men

t at

BSE

and

NSE

(` c

rore

)

Mon

th/

Ye

ar

BSE

NSE

Inde

x/St

ock

Futu

res

Inde

x/St

ock

Opt

ions

Tot

alSe

ttle

men

t G

uran

tee

Fund

Inde

x/St

ock

Futu

res

Inde

x/St

ock

Opt

ions

Tot

alSe

ttle

men

t G

uran

tee

Fund

MTM

Se

ttle

men

tFi

nal

Sett

lem

ent

Prem

ium

Se

ttle

men

tEx

erci

se

Sett

lem

ent

MTM

Se

ttle

men

tFi

nal

Sett

lem

ent

Prem

ium

Se

ttle

men

tEx

erci

se

Sett

lem

ent

1 2

3 4

5 6

7 8

9 10

11

12

13

2008

-09

110.

42.

70.

10.

011

3.2

81.5

75,1

941,

498

10,9

604,

188

91,8

4023

,656

2009

-10

0.5

0.0

0.1

0.0

0.6

72.2

60,6

561,

395

11,0

113,

881

76,9

4331

,572

2010

-11

1.2

0.0

0.0

0.0

1.2

70.7

67,2

881,

591

12,7

032,

119

83,7

0129

,759

2011

-12$

46.4

10.7

10.2

28.9

96.2

213.

146

,879

1,09

810

,409

1,31

459

,700

25,3

73

Apr

-11

0.1

0.0

0.4

0.0

0.5

70.4

3,50

410

487

356

4,53

629

,601

May

-11

0.0

0.0

0.1

0.0

0.1

69.1

5,45

012

693

277

6,58

528

,534

Jun-

110.

10.

00.

00.

00.

166

.83,

870

701,

010

149

5,09

929

,223

Jul-1

10.

20.

00.

00.

00.

267

.04,

008

152

882

615,

104

28,5

28

Aug

-11

0.2

0.0

0.0

0.0

0.2

70.0

7,54

410

21,

480

234

9,35

929

,264

Sep-

110.

60.

00.

10.

00.

798

.35,

536

151

1,12

211

76,

926

28,7

67

Oct

-11

5.4

10.1

0.6

0.3

16.4

130.

64,

104

101

897

935,

194

28,1

52

Nov

-11

30.8

0.0

6.0

0.0

36.8

195.

04,

606

108

1,09

610

65,

917

27,2

01

Dec

-11

5.7

0.0

1.0

0.0

6.7

195.

84,

563

105

1,17

525

76,

100

25,2

34

Jan-

123.

40.

61.

828

.634

.421

3.1

3,69

580

941

164

4,88

025

,373

$

indi

cate

s as o

n la

st tr

adin

g da

y of

Jan.

201

2.

So

urce

: BSE

and

NSE

.

173


Table 31: Trading in the Corporate Debt Market

Month/Year

BSE NSE FIMMDA

No. of Trades Traded Value (` 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$ 5,460 41,757 7,919 1,39,862 28,195 2,92,023

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

Jul-11 665 4,107 915 15,852 2,959 30,776

Aug-11 737 5,730 717 13,653 3,035 33,772

Sep-11 535 3,601 710 10,543 3,618 30,738

Oct-11 350 3,056 913 12,699 2,444 27,510

Nov-11 484 5,304 588 14,547 2,448 27,457

Dec-11 684 6,233 888 17,365 3,323 39,468

Jan-12 574 3,407 1,600 19,152 2,780 28,936 $ indicates as on last trading day of Jan. 2012. Source: BSE, NSE and FIMMDA.

174


able

32

: Tra

ding

Sta

tist

ics

of C

urre

ncy

Der

ivat

ives

Seg

men

t at

NSE

Mon

th/

Yea

r

No.

of

Trad

ing

Day

s

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

Tota

lO

pen

Inte

rest

at

the

end

of

No.

of

Con

trac

ts

Turn

over

(`

cro

re)

Cal

lPu

tN

o. o

f C

ontr

acts

Tu

rnov

er

(`cr

ore)

No.

of

Con

trac

ts

Turn

over

(`

cro

re)

No.

of

Con

trac

ts

Turn

over

(`

cro

re)

No.

of

Con

trac

ts

Trad

ed

Val

ue(`

cro

re)

12

34

56

78

910

1112

2008

-09

139

3,27

,38,

566

1,62

,563

--

--

3,27

,38,

566

1,62

,563

2,57

,554

1,31

3

2009

-10

240

37,8

6,06

,983

17,8

2,60

8-

--

-37

,86,

06,9

8317

,82,

608

4,27

,873

1,96

4

2010

-11

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

2011

-12$

201

61,1

0,81

,116

29,2

3,69

813

,61,

06,5

966,

45,4

0210

,45,

02,4

804,

92,7

7085

,16,

90,1

9240

,61,

869

30,9

3,92

115

,513

Apr

-11

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

May

-11

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

Jun-

1122

7,16

,92,

233

3,29

,896

1,55

,93,

859

70,8

1393

,36,

323

42,1

699,

66,2

2,41

54,

42,8

7742

,98,

647

19,5

05

Jul-1

121

8,53

,83,

927

3,89

,734

2,36

,93,

577

1,06

,481

1,31

,94,

701

59,0

6712

,22,

72,2

055,

55,2

8260

,55,

316

27,0

81

Aug

-11

208,

79,4

0,09

04,

06,8

391,

94,1

1,62

388

,623

1,98

,88,

142

89,6

6112

,72,

39,8

555,

85,1

2343

,68,

210

20,4

65

Sep-

1120

5,94

,02,

945

2,88

,848

1,20

,99,

974

58,3

041,

36,3

9,88

464

,401

8,51

,42,

803

4,11

,553

36,8

1,04

918

,213

Oct

-11

194,

02,8

6,28

62,

01,4

1283

,69,

448

41,8

5960

,49,

710

29,8

445,

47,0

5,44

42,

73,1

1436

,95,

468

18,2

47

Nov

-11

204,

37,5

9,11

32,

26,3

9896

,39,

713

49,9

8488

,97,

214

45,2

846,

22,9

6,04

03,

21,6

6636

,63,

965

19,3

39

Dec

-11

214,

46,6

6,23

52,

38,6

6993

,47,

785

50,1

0081

,44,

859

43,0

356,

21,5

8,87

93,

31,8

0523

,87,

654

12,8

86

Jan-

1221

5,05

,11,

361

2,60

,951

1,11

,15,

582

57,9

6278

,29,

350

40,5

696,

94,5

6,29

33,

59,4

8130

,93,

921

15,5

13

Not

e: C

urre

ncy

Futu

res

trad

ing

stat

red

at N

SE o

n A

ugus

t 29

, 200

8.C

urre

ncy

Opt

ions

wer

e in

trod

ucde

d at

NSE

w.e

.f O

ctob

er 2

9, 2

010.

Tra

ding

Val

ue :-

For

Fut

ures

, Val

ue o

f con

trac

t =

Tra

ded

Qty

*Tra

ded

Pric

e.Fo

r O

ptio

ns, V

alue

of c

ontr

act

= T

rade

d Q

ty*(

Stri

ke P

rice

+T

rade

d Pr

emiu

m)

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: NSE

.

175


Table 33: Trading Statistics of Currency Derivatives Segment at MCX-SX

Month/ YearNo. of

Trading Days

Currency Futures Total Open Interest at the end of

No. of Contracts

Turnover (` crore)

No. of Contracts

Turnover (` crore)

No. of Contracts

Value (` crore)

1 2 3 4 5 6 7 8

2009-10 240 40,81,66,278 19,44,654 40,81,66,278 19,44,654 4,23,314 1,951

2010-11 249 90,31,85,639 41,94,017 90,31,85,639 41,94,017 7,94,788 3,706

2011-12$ 201 67,39,54,219 32,44,426 67,39,54,219 32,44,426 10,10,958 5,132

Apr-11 16 5,96,20,093 2,70,381 5,96,20,093 2,70,381 8,11,777 3,844

May-11 21 7,76,11,606 3,57,484 7,76,11,606 3,57,484 7,20,828 3,519

Jun-11 22 7,91,93,828 3,67,456 7,91,93,828 3,67,456 10,61,923 5,075

Jul-11 21 8,83,88,424 4,08,314 8,83,88,424 4,08,314 15,71,147 7,218

Aug-11 20 9,67,04,293 4,50,762 9,67,04,293 4,50,762 12,19,239 5,943

Sep-11 20 7,60,98,239 3,71,558 7,60,98,239 3,71,558 9,58,613 4,836

Oct-11 19 4,65,31,165 2,33,541 4,65,31,165 2,33,541 10,86,575 5,484

Nov-11 20 5,32,01,472 2,75,674 5,32,01,472 2,75,674 11,78,910 6,326

Dec-11 21 4,93,36,944 2,64,005 4,93,36,944 2,64,005 9,61,299 5,269

Jan-12 21 4,72,68,155 2,45,250 4,72,68,155 2,45,250 10,10,958 5,132

Note: Currency Futures trading statred at MCX-SX on October 07, 2008. $ indicates as on last trading day of Jan. 2012. NA: Not Applicable.Source: MCX-SX.

176


able

34:

Tra

ding

Sta

tist

ics

of C

urre

ncy

Der

ivat

ives

Seg

men

t at

USE

Mon

th/

Yea

r

No.

of

Tra

ding

D

ays

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

Tot

alO

pen

Inte

rest

at

the

end

of

Cal

lPu

t

No.

of

Con

trac

ts

Tur

nove

r (`

cro

re)

No.

of

Con

trac

ts T

urno

ver

(` c

rore

)N

o. o

f C

ontr

acts

Tur

nove

r (`

cro

re)

No.

of

Con

trac

ts

Tur

nove

r (`

cro

re)

No.

of

Con

trac

ts

Val

ue

(` c

rore

)

1 2

3 4

5 6

7 8

9 10

11

12

2011

-12$

201

30,3

9,80

,009

14,4

3,74

146

,77,

280

21,3

7925

,75,

639

11,7

7631

,10,

35,0

8414

,75,

902

20,6

4410

4

Apr

-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-

1122

4,91

,59,

434

2,25

,879

5,55

,512

2,52

161

,026

277

4,97

,75,

972

2,28

,677

1,96

,865

886

Jul-1

121

6,06

,85,

198

2,76

,907

5,59

,333

2,50

266

,843

301

6,13

,11,

374

2,79

,711

3,27

,770

1,50

4

Aug

-11

207,

00,8

4,39

23,

27,1

284,

98,5

852,

278

38,2

5417

67,

06,2

1,23

13,

29,5

822,

21,2

781,

083

Sep-

1120

3,65

,57,

897

1,92

,533

3,27

,369

1,56

61,

49,4

9272

03,

70,3

4,75

81,

94,8

201,

35,8

0666

6

Oct

-11

191,

34,0

9,12

369

,515

1,76

,712

880

1,50

,483

751

1,37

,36,

318

71,1

451,

07,5

0452

9

Nov

-11

2075

,29,

516

38,8

4094

,464

476

1,03

,380

518

75,2

9,51

638

,840

59,8

3331

3

Dec

-11

2122

,50,

700

12,5

593,

901

210

022

,54,

601

12,5

8031

,370

168

Jan-

1221

10,7

9,48

06,

335

28,3

8414

824

,094

126

11,3

1,95

86,

609

20,6

4410

4

Not

e: C

urre

ncy

Futu

res

trad

ing

star

ted

at U

SE o

n Se

ptem

ber

20, 2

010.

Cur

renc

y O

ptio

ns w

ere

intr

oduc

ded

at U

SE w

.e.f

Oct

ober

29,

201

0.$

indi

cate

s as

on

last

tra

ding

day

of

Jan.

201

2.So

urce

: USE

.

177


able

35:

Dai

ly T

rend

s of

Cur

renc

y D

eriv

ativ

es t

radi

ng a

t N

SE d

urin

g Ja

nuar

y 20

12

Dat

e

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ion

Tot

al T

urno

ver

Ope

n In

tere

st a

tth

e en

d of

C

alls

Puts

No.

of

Con

trac

ts

Tra

ded

Val

ue

(` c

rore

)

No.

of

Con

trac

ts

Tra

ded

Val

ue

(` c

rore

)

No.

of

Con

trac

ts

Tra

ded

Val

ue

(` c

rore

)

No.

of

Con

trac

ts

Tra

ded

Val

ue

(` c

rore

)

No.

of

Con

trac

ts

Tra

ded

Val

ue

(` c

rore

)

12

34

56

78

910

11

2-Ja

n-12

8,14

,892

4,40

31,

32,9

0672

11,

67,9

4590

011

,15,

743

6,02

424

,35,

412

13,1

62

3-Ja

n-12

13,1

3,51

57,

117

1,78

,080

967

1,88

,701

1,01

216

,80,

296

9,09

726

,56,

792

14,3

51

4-Ja

n-12

16,8

4,35

69,

077

2,60

,603

1,41

21,

92,5

771,

032

21,3

7,53

611

,521

27,9

7,56

615

,039

5-Ja

n-12

21,2

2,40

611

,365

6,37

,097

3,44

13,

91,7

212,

090

31,5

1,22

416

,896

30,8

5,45

916

,504

6-Ja

n-12

16,5

9,12

48,

877

3,43

,110

1,84

83,

05,7

321,

633

23,0

7,96

612

,358

34,5

9,47

518

,432

9-Ja

n-12

20,7

6,01

011

,052

3,89

,953

2,09

23,

42,0

601,

821

28,0

8,02

314

,965

35,9

2,87

319

,097

10-Ja

n-12

33,3

8,91

517

,578

10,1

5,09

65,

407

6,08

,606

3,21

649

,62,

617

26,2

0037

,29,

093

19,5

64

11-Ja

n-12

27,7

6,73

214

,510

5,45

,107

2,87

74,

90,5

752,

566

38,1

2,41

419

,953

38,7

8,45

220

,287

12-Ja

n-12

21,8

2,57

711

,423

2,78

,000

1,47

52,

07,0

291,

082

26,6

7,60

613

,980

37,6

5,05

319

,670

13-Ja

n-12

22,5

5,62

411

,734

6,15

,508

3,22

64,

38,0

222,

275

33,0

9,15

417

,234

39,7

8,39

720

,675

16-Ja

n-12

21,1

1,23

511

,030

4,71

,764

2,48

03,

36,4

461,

765

29,1

9,44

515

,275

38,5

8,46

620

,075

17-Ja

n-12

37,0

0,20

519

,038

7,24

,606

3,76

66,

34,1

183,

302

50,5

8,92

926

,105

43,0

4,62

122

,129

18-Ja

n-12

34,8

7,13

917

,836

10,8

2,84

65,

601

5,90

,027

3,03

451

,60,

012

26,4

7145

,13,

355

23,0

08

19-Ja

n-12

29,0

5,36

514

,742

7,66

,785

3,95

14,

94,8

732,

525

41,6

7,02

321

,218

45,9

9,58

023

,321

20-Ja

n-12

19,8

2,27

310

,102

3,56

,495

1,82

22,

95,3

861,

501

26,3

4,15

413

,424

46,9

3,70

323

,819

23-Ja

n-12

22,2

1,98

611

,258

7,11

,946

3,63

73,

17,6

321,

615

32,5

1,56

416

,510

48,9

6,67

124

,761

24-Ja

n-12

30,2

2,03

315

,226

6,05

,381

3,07

74,

07,3

292,

074

40,3

4,74

320

,377

49,9

4,58

825

,169

25-Ja

n-12

22,8

3,64

711

,542

4,47

,580

2,26

72,

98,5

191,

507

30,2

9,74

615

,315

48,9

1,43

524

,697

27-Ja

n-12

38,5

2,21

519

,328

6,64

,037

3,37

24,

84,4

192,

441

50,0

0,67

125

,141

26,0

3,23

113

,040

30-Ja

n-12

21,5

2,03

610

,815

4,18

,247

2,13

72,

98,2

421,

486

28,6

8,52

514

,439

28,6

7,71

114

,428

31-Ja

n-12

25,6

9,07

612

,899

4,70

,435

2,38

73,

39,3

911,

692

33,7

8,90

216

,978

30,9

3,92

115

,513

Sour

ce:N

SE.

178


Table 36: Daily Trends of Currency Derivatives trading at MCX-SX during January 2012

Date

Currency Futures Total TurnoverOpen Interest at the

end of the day

No. of Contracts

Turnover(` crore)

No. of Contracts

Turnover (` crore)

No. of contracts

Value (` crore)

1 2 3 4 5 6 7

2-Jan-12 7,15,643 3,892 7,15,643 3,892 9,67,055 5,307

3-Jan-12 15,40,985 8,397 15,40,985 8,397 11,15,367 6,133

4-Jan-12 18,45,144 9,995 18,45,144 9,995 10,74,366 5,871

5-Jan-12 21,74,779 11,705 21,74,779 11,705 10,54,451 5,746

6-Jan-12 14,41,615 7,754 14,41,615 7,754 10,71,880 5,800

9-Jan-12 18,23,635 9,755 18,23,635 9,755 10,80,090 5,826

10-Jan-12 28,87,350 15,269 28,87,350 15,269 10,40,214 5,532

11-Jan-12 24,62,979 12,902 24,62,979 12,902 9,87,748 5,263

12-Jan-12 22,04,446 11,550 22,04,446 11,550 9,90,595 5,262

13-Jan-12 22,30,819 11,645 22,30,819 11,645 9,80,947 5,196

16-Jan-12 21,33,266 11,162 21,33,266 11,162 9,51,002 5,030

17-Jan-12 34,67,138 17,852 34,67,138 17,852 10,38,483 5,420

18-Jan-12 28,49,859 14,626 28,49,859 14,626 10,73,930 5,562

19-Jan-12 27,34,563 13,898 27,34,563 13,898 11,02,086 5,680

20-Jan-12 21,23,227 10,836 21,23,227 10,836 12,07,802 6,224

23-Jan-12 21,32,439 10,842 21,32,439 10,842 11,60,156 5,957

24-Jan-12 26,53,373 13,416 26,53,373 13,416 11,56,004 5,923

25-Jan-12 20,63,240 10,532 20,63,240 10,532 11,56,750 5,946

27-Jan-12 34,03,585 17,133 34,03,585 17,133 14,22,397 7,178

30-Jan-12 22,20,532 11,202 22,20,532 11,202 9,50,155 4,859

31-Jan-12 21,59,538 10,887 21,59,538 10,887 10,10,958 5,132

Source: MCX-SX.

179


able

37:

Dai

ly T

rend

s of

Cur

renc

y D

eriv

ativ

es t

radi

ng a

t U

SE d

urin

g Ja

nuar

y 20

12

Dat

e

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

Tot

al T

urno

ver

Ope

n In

tere

st a

t th

e en

d of

the

day

C

alls

P

uts

No.

of

Con

trac

ts

Tur

nove

r (`

cro

re)

No.

of

Con

trac

tsT

urno

ver

(` c

rore

)N

o. o

f C

ontr

acts

Tur

nove

r (`

cro

re)

No.

of

Con

trac

ts

Tur

nove

r (`

cro

re)

No.

of

cont

ract

sV

alue

(` c

rore

)

1 2

3 6

7 8

9 10

11

12

13

2-Ja

n-12

45,5

4328

90

00

045

,543

289

32,1

7517

3

3-Ja

n-12

44,6

5927

80

00

044

,659

278

32,2

0117

3

4-Ja

n-12

64,9

2342

10

00

064

,923

421

30,9

6616

6

5-Ja

n-12

62,6

9237

30

00

062

,692

373

33,5

2917

8

6-Ja

n-12

65,0

5142

60

00

065

,051

426

32,3

9817

2

9-Ja

n-12

63,1

4039

80

00

063

,140

398

32,6

9017

4

10-Ja

n-12

77,3

4748

275

04

00

78,0

9748

633

,793

174

11-Ja

n-12

42,3

2225

890

05

00

43,2

2226

334

,130

174

12-Ja

n-12

60,6

4438

59,

920

525,

180

2775

,744

464

35,4

2618

1

13-Ja

n-12

64,4

6838

23,

720

197,

578

4075

,766

442

36,0

6418

3

16-Ja

n-12

68,3

8941

49,

494

506,

438

3484

,321

497

34,0

6017

7

17-Ja

n-12

65,8

1836

20

02,

398

1268

,216

374

35,5

9118

1

18-Ja

n-12

33,5

0917

040

02

400

234

,309

174

35,8

1818

1

19-Ja

n-12

35,2

2517

840

02

00

35,6

2518

035

,011

177

20-Ja

n-12

34,9

8017

70

00

034

,980

177

34,8

5617

7

23-Ja

n-12

38,3

3920

00

00

038

,339

200

34,9

6817

7

24-Ja

n-12

76,6

6940

70

00

076

,669

407

41,7

7121

0

25-Ja

n-12

45,4

6823

91,

000

50

046

,468

244

44,6

0322

0

27-Ja

n-12

43,9

3124

490

05

1,00

05

26,1

6625

426

,166

116

30-Ja

n-12

28,2

4415

650

03

1,10

06

29,8

4416

422

,316

110

31-Ja

n-12

18,1

1996

400

20

018

,519

9820

,644

104

Sour

ce :

USE

.

180


able

38:

Set

tlem

ent

Stat

isti

cs o

f Cur

renc

y D

eriv

ativ

es S

egm

ent

(` c

rore

)

Mon

th/

Yea

r

NSE

Tota

l

MC

X-S

X

Tota

l

USE

Tota

lC

urre

ncy

Futu

res

Cur

renc

y O

ptio

nsC

urre

ncy

Futu

res

Cur

renc

y Fu

ture

sC

urre

ncy

Opt

ions

MTM

Se

ttle

men

tFi

nal

Sett

lem

ent

Prem

ium

Se

ttle

men

tEx

erci

se

Sett

lem

ent

MTM

Se

ttle

men

tFi

nal

Sett

lem

ent

MTM

Se

ttle

men

tFi

nal

Sett

lem

ent

Prem

ium

Se

ttle

men

tEx

erci

se

Sett

lem

ent

12

34

56

78

910

1112

1314

2010

-11

2,41

190

246

642,

811

2,03

057

2,08

7N

A

2011

-12$

4,92

314

11,

227

827

7,11

82,

431

702,

502

388

161

140

7

Apr

-11

187

887

2330

697

510

214

00

015

May

-11

256

784

2236

912

04

124

161

00

17

Jun-

1120

92

9212

315

972

9916

10

017

Jul-1

137

225

117

6858

215

313

166

435

00

48

Aug

-11

456

215

216

577

626

82

270

700

00

71

Sep-

1166

528

179

179

1,05

139

111

402

995

01

105

Oct

-11

599

1495

6777

626

87

275

612

00

63

Nov

-11

685

2317

210

298

236

29

371

331

00

35

Dec

-11

775

612

083

984

406

340

925

00

025

Jan-

1272

026

128

104

978

269

1528

411

10

012

NA

: Not

App

licab

le.

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: NSE

, MC

X-S

X a

nd U

SE.

181


Table 39: Trading Statistics of Interest Rate Futures Segment at NSE

Month/ Year

No. of Contracts

Traded

Trading Value(` crore)

Average Daily Trading Value

(` crore)

Number of Trading Days

Open Interest at the end of

No. of Contracts


1 2 3 4 5 6 7

2009-10 1,60,894 2,975 21.2 140 758 14.2

2010-11 3,348 62 0.2 249 1 0.0

2011-12$ 2,15,200 3,959 19.7 201 0 0.0

Apr-11 5 0 0.0 16 0 0.0

May-11 0 0 0.0 21 0 0.0

Jun-11 0 0 0.0 22 0 0.0

Jul-11 1,97,217 3,629 172.8 21 2,963 58.0

Aug-11 16,927 311 15.6 20 501 9.8

Sep-11 1,050 19 1.0 20 1 0.0

Oct-11 1 0 0.0 19 2 0.0

Nov-11 0 0 0.0 20 1 0.0

Dec-11 0 0 0.0 21 0 0.0

Jan-12 0 0 0.0 21 0 0.0

Note: Interest Rate Futures trading restarted on August 31, 2009.91 DTB was introduced on 04th of July 2011.IRF includes both 10 Year GSecs and 91 DTB.$ indicates as on last trading day of Jan. 2012.Source: NSE.

182


Table 40: Interest Rate Futures trading at NSE during January 2012

Date No. of Contracts Traded


Open Interest

No. of contracts Value(` crore)

1 2 3 4 5

2-Jan-12 0 0.0 0 0.0

3-Jan-12 0 0.0 0 0.0

4-Jan-12 0 0.0 0 0.0

5-Jan-12 0 0.0 0 0.0

6-Jan-12 0 0.0 0 0.0

9-Jan-12 0 0.0 0 0.0

10-Jan-12 0 0.0 0 0.0

11-Jan-12 0 0.0 0 0.0

12-Jan-12 0 0.0 0 0.0

13-Jan-12 0 0.0 0 0.0

16-Jan-12 0 0.0 0 0.0

17-Jan-12 0 0.0 0 0.0

18-Jan-12 0 0.0 0 0.0

19-Jan-12 0 0.0 0 0.0

20-Jan-12 0 0.0 0 0.0

23-Jan-12 0 0.0 0 0.0

24-Jan-12 0 0.0 0 0.0

25-Jan-12 0 0.0 0 0.0

27-Jan-12 0 0.0 0 0.0

30-Jan-12 0 0.0 0 0.0

31-Jan-12 0 0.0 0 0.0

Source: NSE.

183


Table 41: Settlement Statistics in Interest Rate Futures Segment at NSE

(` crore)

Month/Year MTM Settlement Final Settlement

1 2 3

2009-10 27.8 109.7

2010-11 2.2 12.7

2011-12$ 0.4 0.1

Apr-11 0.0 0.0

May-11 0.0 0.0

Jun-11 0.0 0.0

Jul-11 0.2 0.1

Aug-11 0.2 0.0

Sep-11 0.0 0.0

Oct-11 0.0 0.0

Nov-11 0.0 0.0

Dec-11 0.0 0.0

Jan-12 0.0 0.0

Note: Interest Rate Futures trading restarted on August 31, 2009.91 DTB was introduced on 04th of July 2011.IRF includes both 10 Year GSecs and 91 DTB.$ indicates as on last trading day of Jan. 2012.Source: NSE.

184


Table 42: Trends in Foreign Institutional Investment

PeriodGross Purchase

(` crore)Gross Sales

(` crore)Net Investment

(` crore)Net Investment

(US $ mn.)

Cumulative Net Investment

(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$ 7,41,353 6,84,651 56,705 11,372 1,32,930

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

Jul-11 77,218 66,566 10,653 2,399 1,25,709

Aug-11 69,590 77,493 -7,903 -1,766 1,23,943

Sep-11 64,868 66,735 -1,866 -342 1,23,600

Oct-11 64,411 61,332 3,079 634 1,24,235

Nov-11 62,296 65,559 -3,263 -586 1,23,649

Dec-11 92,020 70,147 21,873 4,195 1,27,844

Jan-12 76,548 50,220 26,329 5,087 1,32,930

The data presented above is compiled on the basis of reports submitted to SEBI by custodians.$ indicates as on last trading day of Jan. 2012.

Source: SEBI

185


able

43:

Dai

ly T

rend

s in

For

eign

Ins

titu

tion

al I

nves

tmen

t du

ring

Jan

uray

201

2

Dat

e

Equi

tyD

ebt

Tot

al

Gro

ss

Purc

hase

(`

cro

re)

Gro

ss

Sa

les

(`

cro

re)

Net

In

vest

men

t(`

cro

re)

Net

In

vest

men

t (U

S $

mn.

)*

Gro

ss

Purc

hase

(`

cro

re)

Gro

ss S

ales

(`

cro

re)

Net

In

vest

men

t (`

cro

re)

Net

In

vest

men

t (U

S $

mn)

*

Gro

ss

Purc

hase

(`

cro

re)

Gro

ss S

ales

(`

cro

re)

Net

In

vest

men

t (`

cro

re)

Net

In

vest

men

t (U

S $

mn.

)*

12

34

56

78

910

1112

13

2-Ja

n-12

979

1,06

6-8

7-1

630

41,

117

-813

-153

1,28

32,

183

-900

-169

3-Ja

n-12

472

511

-39

-71,

191

105

1,08

620

41,

663

616

1,04

719

64-

Jan-

121,

357

1,03

132

661

2,19

11,

014

1,17

822

13,

548

2,04

51,

503

282

5-Ja

n-12

1,84

01,

583

257

483,

246

310

2,93

655

35,

087

1,89

33,

194

601

6-Ja

n-12

2,24

81,

699

549

104

1,33

923

81,

101

209

3,58

71,

937

1,65

031

39-

Jan-

121,

851

1,82

625

52,

271

182

2,09

039

64,

122

2,00

82,

115

401

10-Ja

n-12

1,78

91,

777

122

818

461

357

682,

607

2,23

836

970

11-Ja

n-12

2,78

32,

378

405

781,

438

860

578

111

4,22

13,

238

983

188

12-Ja

n-12

2,63

02,

132

498

962,

246

646

1,60

030

94,

876

2,77

82,

098

405

13-Ja

n-12

2,52

72,

001

525

101

3,09

229

82,

793

539

5,61

82,

300

3,31

964

016

-Jan-

122,

526

2,16

236

571

2,67

345

12,

222

432

5,19

92,

612

2,58

650

317

-Jan-

121,

991

1,54

344

787

1,17

038

478

615

23,

160

1,92

71,

234

239

18-Ja

n-12

2,97

61,

911

1,06

520

896

593

826

53,

941

2,85

01,

091

214

19-Ja

n-12

3,00

22,

041

961

190

685

873

-188

-37

3,68

82,

914

774

153

20-Ja

n-12

2,82

32,

125

698

139

480

300

180

363,

302

2,42

587

817

523

-Jan-

123,

547

2,55

099

719

889

235

858

170

4,43

92,

584

1,85

536

924

-Jan-

121,

565

1,57

8-1

3-3

1128

1-2

70-5

41,

576

1,85

9-2

83-5

625

-Jan-

122,

998

2,08

990

918

240

622

384

773,

404

2,11

11,

293

259

27-Ja

n-12

3,89

12,

718

1,17

223

414

024

9-1

10-2

24,

030

2,96

71,

063

212

30-Ja

n-12

4,09

62,

732

1,36

427

520

756

0-3

53-7

14,

303

3,29

21,

011

204

31-Ja

n-12

2,57

82,

657

-80

-16

316

787

-471

-95

2,89

33,

444

-550

-111

Tot

al50

,467

40,1

1010

,358

2,03

726

,081

10,1

1015

,971

3,04

976

,548

50,2

2026

,329

5,08

7

The

dat

a pr

esen

ted

abov

e is

com

pile

d on

the

bas

is o

f re

port

s su

bmit

ted

to S

EBI

by c

usto

dian

s on

Jan

uary

31,

201

2 an

d co

nsti

tute

s tr

ades

con

duct

ed b

y FI

Is o

n an

d up

to t

he p

revi

ous

trad

ing

day(

s).

* C

onve

rsio

n ra

te: T

he d

aily

RB

I re

fere

nce

rate

as o

n th

e tr

adin

g da

y ha

s bee

n ad

opte

d. (I

f the

trad

ing

day

is a

ban

k ho

liday

, im

med

iate

ly p

rece

ding

day

's re

fere

nce

rate

has

bee

n us

ed).

"Not

e: T

he d

ata

pert

ains

to

all t

he a

ctiv

itie

s un

dert

aken

by

FIIs

in I

ndia

n Se

curi

ties

Mar

ket,

incl

udin

g tr

ades

don

e in

sec

onda

ry m

arke

t, p

rim

ary

mar

ket

and

acti

viti

es in

volv

ed in

rig

ht/b

onus

issu

es, p

riva

te p

lace

men

t, m

erge

r &

acq

uisi

tion

, etc

."So

urce

: SEB

I.

186


Table 44: Notional Value of Participatory Notes (PNs) Vs Assets Under Management of FIIs (in ` Crores)

Month Total value of PNs on Equity & Debt including PNs on

derivatives

Total value of PNs on Equity & Debt excluding PNs on

derivatives

Assets Under Custody of

FIIs

Total value of PNs on Equity & Debt including PNs on derivatives as %

of 4

Total value of PNs on Equity & Debt excluding PNs on

derivatives as % of 4

1 2 3 4 5 6

2011-12$ 1,57,697 1,14,092 10,43,130 15 11

Apr-11 1,66,444 1,18,230 11,06,718 15 11

May-11 2,11,199 1,61,210 10,81,996 20 15

Jun-11 1,53,291 1,07,640 10,86,388 14 10

Jul-11 1,50,414 1,02,954 10,77,096 14 10

Aug-11 1,52,288 1,00,454 9,85,893 15 10

Sep-11 1,75,291 1,15,311 9,79,164 18 12

Oct-11 1,80,002 1,16,475 10,25,530 18 11

Nov-11 1,79,035 1,17,532 9,38,098 19 13

Dec-11 1,38,711 93,563 9,17,930 15 10

Jan-12 1,57,697 1,14,092 10,43,130 15 11

$ indicates as on last trading day of Jan. 2012.Source:SEBI.

187


able

45:

Tre

nds

in R

esou

rce

Mob

ilisa

tion

by

Mut

ual F

unds

(`

cro

re)

Peri

od

Gro

ss M

obili

sati

onR

edem

ptio

nN

et I

nflo

w/O

utfl

owA

sset

s at

th

e E

nd o

f Pe

riod

Pvt.

Se

ctor

UT

IPu

blic

Sec

tor

Tot

al

Pvt.

Sec

tor

UT

IPu

blic

Sec

tor

Tot

al

Pvt.

Se

ctor

UT

IPu

blic

Sec

tor

Tot

al

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$

46,8

7,70

94,

35,5

615,

11,4

8256

,34,

752

46,3

4,94

54,

28,8

375,

10,4

9955

,74,

281

52,7

646,

724

983

60,4

716,

59,1

53

Apr

-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-

114,

55,4

2542

,276

49,3

315,

47,0

324,

99,3

5052

,031

58,0

936,

09,4

74-4

3,92

5-9

,755

2,47

2-6

2,44

26,

73,1

76

Jul-1

14,

74,0

5141

,445

52,6

615,

68,1

574,

36,4

5334

,633

46,0

605,

17,1

4637

,598

6,81

26,

601

51,0

117,

28,1

87

Aug

-11

3,92

,941

32,8

7747

,172

4,72

,991

3,99

,426

38,9

2049

,242

4,87

,588

-6,4

85-6

,043

-2,0

70-1

4,59

86,

96,7

38

Sep-

114,

08,8

9246

,256

45,9

975,

01,1

454,

51,9

7948

,959

54,3

815,

55,3

18-4

3,08

7-2

,702

-8,3

84-5

4,17

36,

41,9

37

Oct

-11

4,46

,459

35,1

2648

,217

5,29

,802

4,10

,298

33,9

4544

,273

4,88

,516

36,1

611,

181

3,94

441

,287

6,95

,437

Nov

-11

4,62

,998

36,1

5445

,860

5,45

,011

4,59

,630

36,2

2045

,390

5,41

,239

3,36

8-6

647

13,

772

6,81

,655

Dec

-11

4,50

,141

35,3

9449

,704

5,35

,238

5,07

,432

37,5

9353

,633

5,98

,658

-57,

291

-2,1

99-3

,930

-63,

420

6,11

,402

Jan-

124,

62,6

6941

,103

48,1

365,

51,9

074,

44,5

9437

,502

46,2

595,

28,3

5418

,075

3,60

11,

877

23,5

536,

59,1

53

1.

Net

ass

ets

of `

388

3.24

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Apr

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

2.

Net

ass

ets

of `

288

6.34

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

May

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

3.

Net

ass

ets

of `

426

1.96

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Jun

e '1

1 is

not

incl

uded

in t

he a

bove

dat

a.4.

N

et a

sset

s of

` 4

503.

37 c

rore

s pe

rtai

ning

to

Fund

s of

Fun

ds S

chem

es f

or J

uly

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

5.

Net

ass

ets

of `

497

1.88

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Aug

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

6.

Net

ass

ets

of `

549

9.56

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Sep

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

7.

Net

ass

ets

of `

584

1.77

Cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Oct

'11

is n

ot in

clud

ed in

the

abo

ve d

ata

8.

Net

ass

ets

of `

607

6.62

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Nov

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

9.

Net

ass

ets

of `

593

7.91

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Dec

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

10.

Net

ass

ets

of `

617

5.24

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Jan

'12

is n

ot in

clud

ed in

the

abo

ve d

ata.

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: SEB

I.

188


able

46:

Typ

e-w

ise

Res

ourc

e M

obili

sati

on b

y M

utua

l Fun

ds :

Ope

n-en

ded

and

Clo

se-e

nded

(` c

rore

)

Sche

me

2009

-10

2010

-11

2011

-12$

Jan-

12N

et A

sset

s U

nder

M

anag

emen

t $

Sale

Purc

hase

Net

Sale

Purc

hase

Net

Sale

Purc

hase

Net

Sale

Purc

hase

Net

12

34

56

78

910

1112

1314

Ope

n-en

ded

99,7

6,36

398

,69,

736

1,06

,627

86,6

5,72

787

,88,

945

-123

,218

55,4

4,16

354

,64,

219

79,9

455,

42,5

465,

15,2

2127

,326

5,27

,869

Clo

se-

ende

d25

,551

61,6

83-3

6,13

21,

28,8

7457

,216

71,6

5880

,054

88,4

87-8

,432

8,97

312

,584

-3,6

111,

23,9

04

Inte

rval

17,1

094,

524

12,5

8564

,915

62,7

602,

154

10,5

3421

,576

-11,

042

388

550

-162

7,38

0

Tot

al1,0

0,19,0

2399

,35,

942

83,0

8088

,59,

515

89,0

8,92

1-4

9,40

656

,34,

752

55,7

4,28

160

,471

5,51

,907

5,28

,354

23,5

536,

59,1

53

1.

Net

ass

ets

of `

388

3.24

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

Apr

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

2.

Net

ass

ets

of `

288

6.34

cro

res

pert

aini

ng t

o Fu

nds

of F

unds

Sch

emes

for

May

'11

is n

ot in

clud

ed in

the

abo

ve d

ata.

3.

Net

ass

ets

of `

426

1.96

cro

res

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I. S

ourc

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EBI.

190


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2009

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512

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The

ratio

of d

emat

eria

lized

equ

ity

shar

es to

the

tota

l out

stan

ding

sh

ares

(mar

ket v

alue

)pe

rcen

t80

.981

.369

.516

.4-0

.516

.516

.113

.027

.22.

9

* 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, w

hile

the

rem

aini

ng e

xcha

nges

are

con

nect

ed to

CD

SL in

thei

r ca

paci

ty a

s Cle

arin

g M

embe

r D

Ps.

It m

ay b

e no

ted

that

out

of

8 C

lear

ing

Cor

pora

tions

, BO

ISL

and

ICC

L ha

ve b

een

conn

ecte

d as

Cle

arin

g C

orpo

ratio

ns o

f BSE

.So

urce

: NSD

L an

d C

DSL

.

194


able

52:

Pro

gres

s of

Dem

ater

ialis

atio

n at

NSD

L an

d C

DSL

Yea

r/M

onth

NSD

LC

DSL

Com

pani

es

Live

D

Ps

Live

DPs

Loca

tion

s (N

os.)

Dem

at

Qua

ntit

y (m

illio

n sh

ares

)

Dem

at V

alue

(`

cro

re)

Com

pani

es

Live

D

Ps

Live

DPs

Loca

tion

s(N

os.)

Dem

at

Qua

ntit

y (m

illio

n sh

ares

)

Dem

at V

alue

(`

cro

re)

12

34

56

78

910

11

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$

9,53

128

313

,916

5,64

,164

6,85

8,90

010

,849

563

10,6

751,

33,3

0010

,20,

435

Apr

-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-

119,

047

295

13,1

964,

86,1

9165

,57,

900

8,46

855

39,

938

1,20

,640

10,9

6,18

7

Jul-1

19,

084

296

13,1

954,

96,2

7364

,02,

500

8,56

255

79,

861

1,22

,140

11,0

0,65

0

Aug

-11

9,15

429

713

,379

5,00

,186

60,5

8,20

08,

680

556

10,5

221,

22,1

0010

,04,

214

Sep-

119,

212

297

13,6

895,

36,0

1466

,87,

800

9,00

055

610

,639

1,30

,910

9,79

,868

Oct

-11

9,30

029

813

,752

5,43

,911

69,5

0,30

09,

178

559

10,6

661,

31,0

7010

,12,

558

Nov

-11

9,36

628

413

,832

5,48

,674

64,9

1,90

09,

273

561

10,6

651,

31,0

909,

42,0

66

Dec

-11

9,45

328

213

,866

5,59

,075

63,4

5,00

09,

412

556

10,6

681,

33,3

308,

80,8

59

Jan-

129,

531

283

13,9

165,

64,1

6468

,58,

900

10,8

4956

310

,675

1,33

,300

10,2

0,43

5

Not

e : T

he c

ount

of D

Ps in

clud

es m

ain

DPs

as

wel

l as

Bra

nch

DPs

.D

Ps L

ocat

ions

’ rep

rese

nts

the

tota

l liv

e (m

ain

DPs

and

bra

nch

DPs

as w

ell a

s no

n-liv

e (b

ack

offi

ce c

onne

cted

col

lect

ion

cent

res)

.$

indi

cate

s as

on

last

tra

ding

day

of J

an. 2

012.

Sour

ce: N

SDL

and

CD

SL.

195


able

53:

Ass

ets

unde

r th

e C

usto

dy o

f Cus

todi

ans

Clien

t

Perio

d

FIIS

/SAs

Fore

ign

Depo

sitor

iesFD

I In

vestm

ents

Fore

ign

Vent

ure

Capi

tal

Inve

stmen

ts

OCB

sN

RIs

Mut

ual F

unds

Corp

orate

sBa

nks

Insu

ranc

e Co

mpa

nies

Loca

l Pen

sion

Fund

sFi

nanc

ial

Insti

tutio

ns

Oth

ers

Total

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(`

cror

e)N

o.Am

ount

(`

cror

e)N

o.Am

ount

(`

cror

e)N

o.Am

ount

(`

crore)

No.

Amou

nt

(` cro

re)N

o.Am

ount

(`

crore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cro

re)

12

34

56

78

910

1112

1314

1516

1718

1920

2122

2324

2526

2728

29

2008

-09

3,883

3,91,9

5413

71,83

962

192

,694

7316

,579

4356

982

045

51,7

013,7

8,954

418

19,43

072

27,85

915

44,4

2,117

753,2

7420

32,00

85,3

1999

,857

13,21

215,7

7,589

2009

-106,9

989,0

0,869

701,5

6,616

919

1,45,5

5511

517

,604

391,0

111,3

761,0

711,2

095,8

4,628

1,491

29,32

873

42,59

718

97,8

0,610

9824

,266

1947

,607

10,16

61,3

1,199

22,76

228,6

2,961

2010

-117,4

7411

,06,55

077

1,85,9

311,0

481,4

6,231

144

24,00

238

1,005

979

910

1,491

5,91,9

3754

748

,723

7885

,863

218

9,08,1

1210

034

,970

3662

,600

11,02

31,5

4,242

23,25

333,5

1,076

2011

-12$

7,929

10,43

,130

771,4

2,278

1,148

2,28,1

7514

925

,980

3478

089

32,4

741,7

456,3

7,727

503

42,75

278

88,17

741

98,6

7,340

9170

,725

3560

,318

10,89

52,1

7,520

23,99

634,2

7,376

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

1,49

57,2

6,706

549

46,75

278

71,50

922

19,0

3,691

100

35,71

635

60,04

411

,007

1,54,0

7923

,335

34,63

,507

May

-117,6

5110

,81,99

676

1,72,3

801,0

591,5

0,268

147

24,69

838

976

956

930

1,534

6,81,4

1153

146

,865

7876

,614

223

8,92,4

1710

039

,662

3560

,149

10,46

11,5

3,287

22,88

933

,81,65

3

Jun-1

17,7

3010

,86,38

876

1,69,9

701,0

721,5

1,251

146

24,92

638

969

949

928

1,572

6,37,5

1152

845

,627

7776

,690

223

9,02,2

4310

141

,687

3664

,432

10,67

41,5

3,885

23,22

233

,56,50

7

Jul-1

17,6

4410

,77,09

777

1,63,0

531,0

751,5

4,319

149

24,91

737

933

943

1,833

1,592

6,95,1

3153

743

,439

7770

,896

229

8,88,2

4910

042

,725

3661

,047

10,71

41,5

5,146

23,21

033

,78,78

5

Aug-1

17,5

839,8

5,893

771,4

1,123

1,082

1,65,7

8815

025

,092

3684

894

42,5

071,5

926,5

7,605

544

46,41

277

74,24

922

98,4

6,516

9944

,148

3658

,024

10,73

61,5

4,630

23,18

532

,02,83

5

Sep-1

17,6

529,7

9,164

771,4

0,367

1,109

2,07,6

2115

025

,590

3680

694

12,4

561,6

386,1

8,064

507

44,80

377

87,54

041

08,4

6,703

9047

,169

3457

,890

10,80

11,7

1,105

23,52

232

,22,83

9

Oct-1

17,6

6610

,25,53

077

1,53,2

481,1

162,1

4,926

147

25,73

636

840

940

2,503

1,662

6,67,4

4950

645

,555

7888

,211

416

8,71,1

7891

46,56

635

61,55

810

,889

1,96,0

9623

,659

33,99

,396

Nov-1

17,6

649,3

8,098

771,3

1,885

1,090

1,31,8

8413

228

,963

3479

492

02,4

581,6

776,5

6,241

505

42,62

279

87,39

046

68,2

1,535

9221

,469

3658

,418

10,92

92,4

9,103

23,70

132

,00,26

9

Dec-1

17,8

979,1

7,930

771,2

2,056

1,146

2,10,7

7814

725

,895

3475

891

92,3

291,7

126,0

0,949

512

41,07

279

88,26

441

88,0

5,750

6424

,044

3554

,988

11,12

52,0

7,985

24,16

531

,02,79

9

Jan-12

7,929

10,43

,130

771,4

2,278

1,148

2,28,1

7514

925

,980

3478

089

32,4

741,7

456,3

7,727

503

42,75

278

88,17

741

98,6

7,340

9170

,725

3560

,318

10,89

52,1

7,520

23,99

634

,27,37

6

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: SEB

I.

196


able

54:

Rat

ings

Ass

igne

d fo

r Lo

ng-t

erm

Cor

pora

te D

ebt

Secu

riti

es (M

atur

ity

≥ 1

yea

r)

Gra

de

Peri

od

Inve

stm

ent

Gra

deN

on-I

nves

tmen

t G

rade

Tot

alH

ighe

st S

afet

y (A

AA

)H

igh

Safe

ty (A

A)

Ade

quat

e Sa

fety

(A)

Mod

erat

e Sa

fety

(B

BB

)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

ount

(`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

ount

(`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

ount

(`

cro

re)

12

34

56

78

910

1112

13

2008

-09

307

5,23

,589

349

1,38

,471

298

53,2

4052

652

,372

396

24,2

201,

876

7,91

,892

2009

-10

275

5,03

,347

321

1,41

,089

249

42,1

2169

129

,550

1,50

745

,942

3,04

37,

62,0

50

2010

-11

244

5,11

,583

267

1,82

,584

249

90,4

4557

969

,283

1,84

342

,704

3,19

99,

07,6

85

2011

-12$

158

4,66

,284

264

1,87

,467

211

69,8

1455

040

,691

2,20

842

,935

3,39

16,

97,9

40

Apr

-11

211,

22,4

547

2,05

114

27,4

0446

1,50

016

63,

118

254

1,56

,527

May

-11

191,

63,2

2832

56,5

7127

16,4

4534

1,97

716

95,

061

281

1,34

,031

Jun-

1115

34,7

5122

21,1

5416

1,70

272

1,93

420

23,

110

327

62,6

52

Jul-1

114

8,68

425

23,8

6613

5,40

846

1,31

322

63,

336

324

42,6

07

Aug

-11

731

,950

1923

,729

876

538

4,94

920

93,

838

281

65,2

32

Sep-

1123

27,0

3829

6,05

125

1,44

454

9,07

024

44,

210

375

47,8

13

Oct

-11

1121

,393

204,

448

243,

515

607,

627

233

3,85

534

840

,838

Nov

-11

725

,200

2810

,446

315,

186

583,

986

237

5,09

736

149

,915

Dec

-11

2118

,030

5426

,636

325,

174

744,

982

250

4,94

243

159

,763

Jan-

1220

13,5

5628

12,5

1621

2,77

168

3,35

427

26,

367

409

38,5

64 $

indi

cate

s as

on

last

tra

ding

day

of J

an. 2

012.

Sour

ce: C

redi

t R

atin

g A

genc

ies.

197


able

55:

Rev

iew

of A

ccep

ted

Rat

ings

of C

orpo

rate

Deb

t Se

curi

ties

(Mat

urit

y ≥

1 y

ear)

Gra

de

Peri

od

Upg

rade

dD

owng

rade

dR

eaff

irm

edR

atin

g W

atch

Wit

hdra

wn/

Su

spen

ded

Not

M

eani

ngfu

l C

ateg

ory

Tot

al

No.

of

is

sue

Am

ount

(`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o.

of

issu

e

Am

ount

(`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o.

of

issu

e

Am

ount

(`

cro

re)

No.

of

is

sue

Am

ount

(`

cro

re)

No.

of

is

sue

Am

ount

(`

cro

re)

23

45

67

89

1011

1213

1415

2008

-09

3617

,033

251

1,60

,021

1,43

023

,23,

424

521,

23,3

0333

544

,853

190

2,10

526

,68,

725

2009

-10

197

61,0

5232

41,

31,6

682,

766

30,8

0,72

770

27,7

2635

884

,569

00

3,71

533

,85,

741

2010

-11

743

1,57

,395

310

28,2

033,

605

41,9

9,71

410

038

,662

518

87,3

140

05,

341

45,1

1,28

9

2011

-12$

587

91,0

7449

51,

05,7

913,

217

31,0

8,52

211

9,91

454

059

,709

00

4,86

533

,62,

412

Apr

-11

512,

576

4612

,664

224

3,33

,338

11,

122

312,

193

00

354

3,51

,893

May

-11

7911

,513

384,

202

251

5,00

,542

11,

122

404,

412

00

413

5,23

,951

Jun-

1161

8,42

238

9,00

124

93,

20,0

711

1,12

279

2,50

70

043

33,

40,6

41

Jul-1

187

8,47

827

3,44

328

82,

05,4

181

1,12

247

6,13

90

045

42,

25,2

83

Aug

-11

427,

383

5413

,065

239

3,14

,938

11,

122

462,

598

00

383

3,39

,229

Sep-

1142

30,6

9752

9,17

345

23,

57,6

901

1,12

285

11,4

690

063

24,

10,1

51

Oct

-11

543,

567

382,

063

251

1,71

,129

11,

122

3114

,067

00

375

1,91

,947

Nov

-11

769,

477

486,

610

403

4,12

,775

132

049

4,66

50

057

74,

33,8

48

Dec

-11

453,

138

9032

,868

475

3,84

,908

21,

680

686,

293

00

680

4,28

,887

Jan-

1250

5,82

364

12,7

0338

51,

07,7

131

6064

5,36

50

056

41,

16,5

83

$ in

dica

tes

as o

n la

st t

radi

ng d

ay o

f Jan

. 201

2.So

urce

: Cre

dit

Rat

ing

Age

ncie

s.

198


Table 56: Macro Economic Indicators

I. GDP at factor cost for 2010-11 (at 2004-05 prices) (` crore)* 48,85,954II. Gross Domestic Saving as a percent of GDP at current market prices in 2010-11 32.3III. Gross Domestic Capital Formation as a percent of GDP at current market prices in 2010-11 35.1

IV. Monetary and Banking Indicators September2011

October2011

November2011

December2011

January2012

Cash Reserve Ratio (percent) 6.0 6.0 6.0 6.0 6.0Bank Rate (percent) 6.0 6.0 6.0 6.0 6.0Money Supply (M3) (` crore) 68,58,829 69,58,664 70,13,674 71,98,680 71,594.7Aggregate Deposit (` crore) 57,07,694 56,38,721 56,58,288 58,27,910 57,681.0Bank Credit (` crore) 42,17,131 41,58,407 41,95,530 43,65,440 43,513.3V. Interest Rate Call Money Rate (Weighted Average) 8.3 8.4 8.7 9.1 9.091-Day-Treasury Bill (maximum) 8.4 8.5 8.9 9.1 9.5Base rate (Maximum) (percent) 10.8 8.5 10.8 10.8 10.8Deposit Rate(one year maturity) (Maximum) 9.3 10.8 9.3 9.3 9.3VI. Capital Market Indicators (` crore)Turnover (BSE+NSE) 2,89,630 2,36,808 2,50,216 2,28,379 2,89,443Market Cap-BSE 59,53,887 62,40,155 56,72,255 53,48,645 60,59,347Market Cap-NSE 58,20,334 61,01,891 55,47,723 52,32,273 59,37,039Net FII Investment in Equity -158 1,677 -4,198 98 10,358VII. Exchange Rate and ReservesForex Reserves (USD million) 3,11,482 3,20,390 3,04,365 2,96,688 2,93,930Re/ Dollar 48.9 48.9 52.2 53.3 49.7Re/Euro 66.6 69.4 69.5 68.9 65.56- months Inter Bank Forward Premia of US Dollar (percent per annum) 3.7 4.8 4.1 6.2 7.3

VIII. Public Borrowing and InflationGovt. Market Borrowing - Gross (` crore) 2,50,000 2,78,000 3,28,000 3,79,000 417,000Wholesale Price Index (Base 2004-05) 156.2 157.0 157.4 156.9 157.7IX. Index of Industrial Production (y-o-y) percent (Base year 2004-05 = 100)General 163.5 158.7 167.4 178.8 NAMining 109.4 122.4 127.6 136.2 NAManufacturing 176.2 166.4 177.8 190.7 NAElectricity 144.1 152.1 145.6 149.8 NAX. External Sector Indicators (USD million)Exports 24,822 19,870 22,322 25,016 NAImports 34,589 39,514 35,922 37,753 NATrade Balance -9,767 -19,644 -13,601 -12,737 NA * Quick Estimate.NA indicates Not Avaliable.Source : RBI, CSO, Ministry of Commerce & Industry.

199


able

57:

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200


PUBLICATIONS

1. Annual Reports : 2010-11

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 AnalysisSecurities and Exchange Board of IndiaPlot No. C4-A, ‘G’ Block,Bandra Kurla Complex,Bandra (E), Mumbai-400051

Tel no. +91-2226449000Fax no. +91-222669021

Documents

SEBIB. Order 1. Order in the Matter of M/s. Sound craft Industries Ltd., M/s. Kolar Biotech Ltd. 112 and M/s. Adam Comsof Ltd. 2. Order in the Matter of M/s. Empower Industries India