The Bombay Stock Exchange will introduce futures and options contracts on the Bharat-22 index from Monday. The Bharat-22 index, comprising the shares of 22 companies, is a blend of shares of central public sector enterprises, public sector banks and blue chip private companies such as Larsen & Toubro (L&T), Axis Bank and ITC. The other companies that are part of the index are -- ONGC, IOC, SBI, BPCL, Coal India, Nalco, Bharat Electronics, REC, Power Finance Corp, Engineers India, NBCC, NTPC, NHPC, SJVNL, GAIL, Power Grid Corporation, NLC India, Indian Bank and Bank of Baroda.

A special court has fixed September 3 as the next date of hearing in the Vijay Mallya fugitive economic offender declaration case as some parties had sought to implead themselves in the matter pertaining to the alleged default of over Rs 9,000-crore bank loans. At least five parties, including a family member of Mallya, have sought court documents with regard to the ED seeking to get the businessman declared a fugitive economic offender under the new law.

MCXCCL, a wholly-owned subsidiary of MCX, is to commence operations from Monday. MCXCCL would provide secure counter-party risk management and post-trade services that would help mitigate risks. It will be the central counter-party for all trades executed on MCX.

Mahindra is to launch its MPV, the Marazzo, on September 3. The Marazzo MPV will be available in the seven and eight-seat configuration. The Marazzo will be the first Mahindra vehicle to be co-developed by its Research Valley, in Chennai, and its North American Technical Centre.

BSE is to introduce a mechanism to automatically cancel reversal trades executed on all contracts in the equity derivatives segment from Monday. Called the Reversal Trade Prevention Check (RTPC), the mechanism is aimed at preventing potential cases of trade reversal taking place on the exchange’s trading platform, which may have been undertaken for the purposes of tax evasion. It will act as a preventive measure wherein the second leg of a potential reversal trade will be automatically cancelled by the trading system at the time of order matching in an online real-time manner.

 

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