Business Daily from THE HINDU group of publications
Saturday, Dec 20, 2008
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Saturday, Dec 20, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Markets
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Regulatory Bodies & Rulings Info-Tech - Corporate Governance
Mr Robert Engle (left), 2003 Nobel Laureate in Economics, with Mr C.B. Bhave, SEBI Chairman, at a conference on securities markets in Mumbai on Friday. — Our Bureau Mumbai, Dec. 19 The Securities and Exchange Board of India is studying the corporate governance practice in Satyam after the recent Satyam-Maytas episode, SEBI Chairman Mr C.B. Bhave said here on Friday. Replying to a question on SEBI’s response to the Hyderabad-based software company’s proposal to buy two firms in which the promoter family has stakes, Mr Bhave said the regulator is studying the corporate governance issue involved in the company’s decision, which was called off following protest from shareholders. Mr Bhave was speaking at a conference on securities market organised by National Institute of Securities Markets here on Friday. SEBI Chairman also said that the regulator is looking at the National Stock Exchange’s proposal to start trading in Nifty futures from 8 a.m., earlier than the normal trading hours starting at 9.55 a.m. The SEBI Chairman said that while some market players want it, others are against it. “We don’t have a particular view on the market timing,” Mr Bhave said. “We have left it to the exchanges and the market players.” SEBI will consult market participants on the issue and take a decision, he added. Speaking on the same issue, Mr Ravi Narain, MD & CEO of NSE, said that the market participants have been asking for extension of trading hours in index futures for long and the exchange has sought SEBI’s view on the same. National Stock Exchange has sought SEBI’s permission to commence trade in Nifty futures before the normal market hours. NSE future is also listed on the Singapore Stock Exchange, where trading starts more than two and a half hours before NSE opens. The early start of trade at Singapore Stock Exchange influences trading in the Nifty futures contract on NSE, said marketmen. Delivering the keynote address, Professor Robert Engle, the Nobel prize winner for economics in 2003, said that investors should only take risks that are worth taking. They should also diversify their risks, he added. Satyam to buy Maytas Infra, Maytas Properties for $1.6 b Satyam backtracks, says it misread the possible impact Maytas deal raises more questions: Ministry Hurrah for shareholder activism! Whither corporate governance? ‘Satyam’s independent directors had raised concerns over the deal’ Satyam plans buyback; board meet on Dec 29 More Stories on : Regulatory Bodies & Rulings | Corporate Governance | Software | Real Estate & Construction | Satyam Computer Services Ltd
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