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Top global B-schools like INSEAD, University of California Los Angeles and <keyword id="87108" type="ORGANIZATION" weightage="20" keywordseo="National-University-of-Singapore">National University of Singapore</keyword> are eyeing one of India's most prestigious college <keyword id="6357276" type="CITY" weightage="100" keywordseo="ISB">ISB</keyword>'s virtual stock trading competition. 
 The college in partnership with a startup called <keyword id="2963122" type="UNKNOWN" weightage="20" keywordseo="Trakinvest">Trakinvest</keyword> has launched the competition titled ‘Beat the Street’. Trackinvest is a start-up run by Bhatia, who was a principal at JP Morgan Partners in Hong Kong and headed Principal Investments at AIG Financial Products. 
 
“A trading competition like this enables students to apply investment concepts learnt in the classroom in a setting as close to the real world as possible. We at NSE-ISB Trading Lab hope this event will produce great traders and investors in the long run,” Prasanna Tantri, senior associate director at the Center for Analytical Finance at ISB, <a href="http://www.livemint.com/Education/OFJ04jURUQSpNHVrD5TYZJ/Trakinvest-ISB-launch-virtual-stock-trading-competition-for.html">told the LiveMint</a>. 
 The participating teams will be using Trakinvest’s virtual trading platform. Each team will be given initial virtual currency worth $100,000. They will have the option of trading in 10 stock markets, including the Nasdaq and the New York Stock Exchange, the London Stock Exchange, three Chinese stock exchanges and the <keyword id="744465" type="ORGANIZATION" weightage="20" keywordseo="National-Stock-Exchange-of-India-Ltd">National Stock Exchange of India Ltd</keyword> (NSE), among others. 
 
Winners of the competition will win prizes worth $2,000. They will be chosen based on the percentage change in their portfolio’s net worth from the start of the game. Results will be announced tomorrow. 
 
“Every student involved in Beat the Street is learning about stock trading in a whole new visual and social way, setting them up strongly for their future careers,” said Trakinvest’s CEO and founder Bobby Bhatia.

Top B schools around the world eye ISB's virtual stock trading competition

New Delhi, Jan 3 () The country's largest lender SBI on Friday said it is looking to sell 50 lakh shares representing 1.01 per cent stake in the National Stock Exchange (NSE) as part of its capital raising exercise.
Currently, State Bank of India (SBI) holds 5.19 per cent stake in the exchange.
"SBI is one of the shareholders of National Stock Exchange of India Ltd and intends to divest up to 1.0101 per cent (50,00,000 equity shares) of its equity shareholding in NSEIL (National Stock Exchange of lndia Ltd) through a competitive bidding process," the lender said in a public notice.
The bid should be submitted for a minimum lot of 10,00,000 shares in the prescribed format and the last date for submission is January 15, 2020, it said.
In 2016, SBI sold 5 per cent stake in the NSE to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at over Rs 18,200 crore. Post this transaction, SBI holding came down to 5.19 per cent while its subsidiary, SBI Capital, holds 4.33 per cent stake in the exchange.
The recent exit of IFCI from the NSE valued the country's largest stock exchange at around Rs 35,000 crore.
Last month, IFCI sold its entire 2.44 per cent stake in the NSE for a consideration of Rs 805.6 crore.
Besides NSE stake dilution, the bank is looking to raise fund from initial public offer of its subsidiaries UTI Mutual Fund and SBI Cards and Payment Services Ltd.
SBI Cards, the credit card arm of State Bank of India, on Wednesday filed Draft Red Herring Prospectus (DRHP) for its initial public offer (IPO) with Sebi in November.
The company will offer up to 13,05,26,798 equity shares via offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group (CA Rover). In addition, the company will also issue fresh equity shares of Rs 500 crore.
Up to 18,64,669 shares have been reserved for employees of the company whereas 1,30,52,680 have been reserved for SBI shareholders.
SBI holds 76 per cent in SBI Cards and rest of the stake is held by Carlyle Group. DP BAL
BAL

SBI plans to sell 1 pc stake in NSE; invites bids

New Delhi, Jan 3 () The country's largest lender SBI on Friday said it is looking to sell 50 lakh shares representing 1.01 per cent stake in the National Stock Exchange (NSE) as part of its capital raising exercise.
Currently, State Bank of India (SBI) holds 5.19 per cent stake in the exchange.
"SBI is one of the shareholders of National Stock Exchange of India Ltd and intends to divest up to 1.0101 per cent (50,00,000 equity shares) of its equity shareholding in NSEIL (National Stock Exchange of lndia Ltd) through a competitive bidding process," the lender said in a public notice.
The bid should be submitted for a minimum lot of 10,00,000 shares in the prescribed format and the last date for submission is January 15, 2020, it said.
In 2016, SBI sold 5 per cent stake in the NSE to Mauritius-based Veracity Investments for Rs 911 crore, valuing the exchange at over Rs 18,200 crore. Post this transaction, SBI holding came down to 5.19 per cent while its subsidiary, SBI Capital, holds 4.33 per cent stake in the exchange.
The recent exit of IFCI from the NSE valued the country's largest stock exchange at around Rs 35,000 crore.
Last month, IFCI sold its entire 2.44 per cent stake in the NSE for a consideration of Rs 805.6 crore.
Besides NSE stake dilution, the bank is looking to raise fund from initial public offer of its subsidiaries UTI Mutual Fund and SBI Cards and Payment Services Ltd.
SBI Cards, the credit card arm of State Bank of India, on Wednesday filed Draft Red Herring Prospectus (DRHP) for its initial public offer (IPO) with Sebi in November.
The company will offer up to 13,05,26,798 equity shares via offer for sale route. This will include up to 37,293,371 share sale by SBI and up to 93,233,427 shares on offer by Carlyle Group (CA Rover). In addition, the company will also issue fresh equity shares of Rs 500 crore.
Up to 18,64,669 shares have been reserved for employees of the company whereas 1,30,52,680 have been reserved for SBI shareholders.
SBI holds 76 per cent in SBI Cards and rest of the stake is held by Carlyle Group. DP BAL

SBI plans to sell 1 PC stake in NSE; invite bids

New Delhi, Jan 16 () In the high profile NSE co-location case, regulator Sebi on Thursday exonerated nine current and former officials of the exchange, including ex-MD and CEO Ravi Narain, saying they cannot be held responsible for any misconduct or non-compliance in the so-called 'dark-fibre issue'.
The former officials who have been absolved from the charges are the exchange's senior VP (operations) R Nandakumar, Colo head Jagdish Joshi, chief technology officers (CTOs) N Muralidharan and Ravi Apte.
 The current officials of the exchange, who have been exonerated are its chief operating officer (Trading) Mayur Sindhwad, CTO-Projects Sankarson Banerjee, CTO-Operations G Shenoy and VP-Regulations Suprabhat Lala.
 The order came after an investigation by the Securities and Exchange Board of India (Sebi) against several former and current NSE employees and stock brokers in the co-location matter.
 It was alleged that certain stock brokers were permitted to avail of Point-to-Point (P2P) dark fibre connectivity from Sampark Infotainment Pvt Ltd, a non-empanelled service provider, and the connectivity provided by this company conferred a latency advantage to a few brokers which resulted in substantial increase in their turnover during the period from April-August, 2015.
 While granting permission to stock brokers for establishing P2P connectivity from its Colo facility with the help of Sampark, NSE has been alleged to adopt a discriminatory approach towards large number of other stock brokers, by allowing Sampark's services to be availed by only a few selected stock brokers.
 It has been alleged that NSE has not acted in a fair and equitable manner while dealing with its members and these nine officials were allegedly employed at top positions of the exchange during the period.
 Sebi, in its order, said that none of the nine officials was occupying a post of director and/or key managerial position at the exchange during the relevant period -- April- July 2015.
"Further, the materials available on record also don't indicate even remotely, the role of any of the noticees as an employee of NSEIL (National Stock Exchange of India Ltd) in facilitating Sampark to establish the P2P connectivity at NSEIL," it added. 
 With regard to the allegations pertaining to the amendment made in the circular of 2009 in an opaque manner and allowing Sampark to continue to provide the services, in spite of fact that it did not possess the requisite department of telecom license to provide the desired telecom services, Sebi said it did not find any evidence worthwhile to proceed against these officials.
 "It can't be held that the noticees herein were involved in facilitating "Sampark" to lay down the Dark fibre line to provide P2P connectivity. There is also no evidence to suggest that noticees had any role in modifying the circular of 2009 in the year 2013. Consequently, they were also not responsible for the non-transparent dissemination of the modification so made in the above mentioned circular of 2009 and therefore, the noticees cannot be held responsible for any misconduct or non-compliance as far as laying of P2P connectivity using dark fibre is concerned," Sebi said.
 Consequently, Sebi has disposed of the instant proceedings initiated against these officials by exonerating them from the allegations charged against them. SP MR
MR

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Top B schools around the world eye ISB's virtual stock trading competition

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SBI plans to sell 1 pc stake in NSE; invites bids

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SBI plans to sell 1 PC stake in NSE; invite bids

PTI

NSE colocation case: Sebi exonerates Ravi Narain, 8 others

PTI

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