 "BSE, NSE, Indian share market, Stock market")
Cross-margin benefits for index, futures extended
Capital markets regulator Securities and Exchange Board of India’s (Sebi) on Tuesday extended the cross-margin benefit between index futures position and constituent stock futures position in the derivatives segment for offsetting positions with different expiry dates. At present, the cross-margin benefits are provided if both the correlated indices or an index and its constituents, as the case may be, have the same expiry day. Cross margining enhances liquidity and financing flexibility for entities by reducing margin demands and decreasing net settlement obligations.
NSE waives transaction charges on F&O contracts
In a bid to give a push to trading in the Nifty Next 50 index, the NSE has said that it won’t levy any transaction charges on its futures and options (F&O) contracts until October 31, 2024. The exchange will launch derivatives contracts for the Nifty Next 50 index from Wednesday. Nifty 50 will be the fifth index to get F&O contracts after Nifty 50, Nifty Bank, Nifty Financial Services Index, and Nifty Midcap Select.
Day 1: JNK India IPO gets 49% subscription
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The initial public offering (IPO) of heating equipment maker JNK India received 49 per cent subscription on the first day of bidding on Tuesday. The initial share sale received bids for 5,386,212 shares against 11,083,278 shares on offer, according to NSE data. The quota for qualified institutional buyers got subscribed 67 per cent while the portion for retail individual investors received 48 per cent subscription. The non-institutional investors part fetched 25 per cent subscription.
Sebi nod to TBO Tek, Awfis Space Solutions to float IPO
Travel distribution company TBO Tek and flexible workspace solutions firm Awfis Space Solutions have received markets regulator Securities and Exchange Board of India’s (Sebi) go-ahead to raise funds through initial public offerings (IPOs). The two firms, which filed their preliminary IPO papers with the regulator between November and December, obtained their observations during April 15-16, an update with the Sebi showed on Tuesday. In Sebi's parlance, its observations mean it's going ahead to float the public issue.
S&P DJI may sell entire stake in Asia index by May 31
Leading index provider S&P Dow Jones Indices (S&P DJI) is targeting to sell its entire equity stake in Asia Index Private Ltd (AIPL) by May 31, according to an update by BSE on Tuesday. AIPL, a joint venture between S&P DJI and BSE, is best known for calculating and maintaining the popular index Sensex.
