Financial Daily from THE HINDU group of publications
Thursday, Dec 30, 2004
Financial Daily from THE HINDU group of publications Thursday, Dec 30, 2004 |
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Markets
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Stock Markets Technical snag at depositories delays pay-out for share deals Our Bureau
Mumbai , Dec. 29 THE pay out on December 29 for the settlement of trades executed on Monday, December 27, was delayed because of a technical snag at the depositories. A Securities and Exchange Board of India said in a press release that depositories and stock exchanges have assured that the pay-out will be completed before the end of day on December 29. "In the interest of the market participants and investors and in order to ensure that there is no disruption of the settlement process, SEBI had called a meeting of the depositories and exchanges on December 29. The Depositories have assured that they are taking every measure to resolve the technical snag," said the SEBI release. The exchanges have been instructed to allow the pay-in on Thursday, till 12 noon. Consequently, the pay-out will be delayed, said the release.
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