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Indiabulls Housing Finance Ltd plans to raise up to Rs 1,000 crore, which includes Rs 900 crore through issue of public issue bonds. The Tranche II Issue offers various series of NCDs for subscription with coupon rates ranging from 8.33 per cent to 9.55 per cent per annum. The Issue will open for subscription on Monday, September 5 and closes on September 22. The NCDs under the Tranche II Issue have tenures of 24 months (Series I, II, III), 36 months (Series IV, V, VI), and 60 months (Series VII, VIII). Effective yield (per annum) for the <keyword id="131571" type="General" weightage="80" keywordseo="ncd" source="Orion">NCD</keyword> holders in Category I (Institutional Investors) &amp; Category II (Non-Institutional Investors) ranges from 8.64 per cent to 9.05 per cent and for <keyword id="2776570" type="General" weightage="80" keywordseo="category-iii" source="Orion">Category III</keyword> (High Net-worth <keyword id="171067" type="General" weightage="80" keywordseo="individual-investors" source="Orion">Individual Investors</keyword>) and Category IV (Retail Individual Investors) holders ranges from 9.04 per cent to 9.54 per cent. Edelweiss Financial Services Limited, A.K. Capital Services Limited, IIFL Securities Limited and Trust Investment Advisors Private Limited are lead managers tp the issue. IDBI <keyword id="14901049" type="General" weightage="80" keywordseo="trusteeship-services-limited" source="Orion">Trusteeship Services Limited</keyword> is the Debenture Trustee to the Tranche II Issue. The NCDs are proposed to be listed on BSE Limited and <keyword id="163934" type="General" weightage="80" keywordseo="national-stock-exchange-of-india" source="Orion">National Stock Exchange of India</keyword>. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/chromium-waste-dumping-tn-to-form-panel-to-monitor-pollution-hazards/articleshow/93999457.cms" style="">Chromium Waste Dumping: TN To Form Panel To Monitor Pollution Hazards</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/the-great-indian-festival-of-hiring-e-commerce-companies-gear-up-for-indias-shoppers/articleshow/94000346.cms">The great Indian festival of hiring: E-commerce companies gear up for India’s shoppers</a>

Indiabulls Housing Finance to raise up to Rs 1,000 cr via public issue of bonds

<keyword id="163934" type="ORGANIZATION" weightage="20" keywordseo="National-Stock-Exchange-of-India">National Stock Exchange of India</keyword> Limited (<keyword id="6354646" type="UNKNOWN" weightage="20" keywordseo="nse">NSE</keyword>) on Thursday said the number of new investor registrations crossed 50 lakh in less than <keyword id="6402111" type="UNKNOWN" weightage="20" keywordseo="Four-months">four months</keyword> of <keyword id="10103883" type="UNKNOWN" weightage="20" keywordseo="financial-year-2021-22">financial year 2021-22</keyword>. New investor registrations witnessed a 2.5 times growth in four months of FY22, compared to the corresponding period of the previous fiscal. "From the geographical presence point of view, 36 per cent new investors registered are from north Indian states, While west Indian states accounts for 30 per cent, southern Indian states accounts for 22 per cent and the remaining 12 per cent are from the east Indian states," the NSE said in a note. "Another interesting trend is that, 53 per cent of new investors registered are from states beyond top 5 ranked states." The NSE's overall registered investor base has now crossed 4.5 crore. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/windlas-biotech-to-raise-395-402-crore-through-public-listing-price-band-fixed-at-448-460/articleshow/84854594.cms">Windlas Biotech to raise ₹395-402 crore through public listing, price band fixed at ₹448-460</a> <a href="https://www.businessinsider.in/tech/mobile/news/googles-sundar-pichai-has-teased-the-whitechapel-chipset/articleshow/84853916.cms">Google teases Whitechapel chipset that may power Google Pixel 6 devices</a>

New investor registrations on NSE grew 2.5 times to cross 50 lakh mark

Mumbai, The key Indian equity indices opened on a <keyword id="3447767" type="PERSON" weightage="20" keywordseo="Positive-note">positive note</keyword> on Wednesday with the <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> hitting a fresh high of 45,897.23 points. The recent bull-run has been on the back of a similar trend in the global markets amid optimism on the vaccine front for novel coronavirus. Oil and gas, metal, energy and IT stocks led the across-the-board buying on Wednesday morning. Around 9.16 a.m., Sensex was trading at 45,846.68, higher by 238.17 points or 0.52 per cent from its previous close of 45,608.51 points. It opened at 45,891.04 and has touched an intra-day low of 45,792.01 points. The Nifty50 on <keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">the National Stock Exchange</keyword> was trading at 13,463.35, up 70.40 points or 0.53 per cent from its previous close. The top gainers on the Sensex were ONGC, ITC and TCS, while the only losers so far were Ultratech Cement and Maruti Suzuki India. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambani-says-jio-will-rollout-5g-services-by-june-2021-and-it-will-go-beyond-india/articleshow/79619222.cms">Mukesh Ambani says Jio will rollout 5G services by June 2021 – and it will go beyond India</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-canara-bank-sun-pharma-titan-nbcc-gujarat-state-fertilizers-coffee-day-and-others/articleshow/79617464.cms">Top stocks to watch — Canara Bank, Sun Pharma, Titan, NBCC, Gujarat State Fertilizers, Coffee Day, and others</a>

Sensex hits fresh high as bull run continues, nears 45,900

Mumbai, The <keyword id="3266601" type="PERSON" weightage="20" keywordseo="Indian-equity-indices">Indian equity indices</keyword> surged to new record highs on Wednesday in line with the <keyword id="3188143" type="PERSON" weightage="20" keywordseo="positive-global-trend">positive global trend</keyword>. The <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> touched an all-time high of 44,825.32 and the Nifty50 on the National Stock Exchange hit a record high of 13,145.85. Around 9.25 a.m., the Sensex was trading at 44,788.02, higher by 265.00 points or 0.60 per cent from its previous close of 44,523.02. It opened at 44,749.73 and the intra-day low so far was at 44,708.11 points. The Nifty50 is trading at 13,131.85, higher by 76.70 points or 0.59 per cent from its previous close. Hopes of a global recovery and positive development on the vaccine front against coronavirus have boosted the markets globally. Healthy buying was witnessed in banking, finance, metal and oil and gas stocks.

Markets at fresh high, Sensex crosses 44,800

<keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">The National Stock Exchange</keyword> (NSE) has expelled tainted member, <keyword id="149349" type="COMPANY" weightage="20" keywordseo="Karvy-Stock-Broking-Ltd">Karvy Stock Broking Ltd</keyword> from its membership and also declared it a defaulter. In a circular, NSE says, "...the member has been expelled from the membership of the Exchange under Rules 1 and 2 of the NSEIL Rules and has been declared as defaulter under provision 1(a) of chapter XII of Exchange bye laws from 23 November 2020 after close of marker hours. A major scam had erupted in November last year after it surfaced that Karvy had transferred securities worth Rs 2,300 crore of more than 95,000 clients, into its account by misusing the power of attorney (PoA) of the clients. Subsequently, there was change in regulations to fix this loophole where such securities could be misused by the brokers. SEBI had barred Karvy from taking new clients in respect of its stock broking activities and also prevented it from using the PoA given by clients. An investigation found that Karvy had pledged shares belonging to clients and utilised them to raise funds. Some of these funds were transferred to group companies such as <keyword id="10324474" type="COMPANY" weightage="20" keywordseo="karvy-realty-ltd-">Karvy Realty Ltd.</keyword> Earlier, NSE said it has settled claims worth Rs 2,300 crore of 2.35 <keyword id="10324475" type="UNKNOWN" weightage="20" keywordseo="lakh-investors">lakh investors</keyword> of Karvy Stock Broking. In a statement, NSE said: "While disciplinary proceedings are underway, funds and securities of approximately Rs 2,300 crore belonging to about 2,35,000 investors have been settled so far, with efforts focused on settlement of small investors. Investors with fund balances up to Rs 30,000 due from Karvy Stock Broking have been settled." SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/biden-will-pick-former-federal-reserve-chair-janet-yellen-to-head-the-treasury-department/articleshow/79378968.cms" data-type="tilCustomLink">Biden will pick former Federal Reserve Chair Janet Yellen to head the Treasury Department</a> <a href="https://www.businessinsider.in/politics/world/news/boris-johnson-to-relax-the-national-coronavirus-lockdown-and-allow-households-to-celebrate-together-over-christmas/articleshow/79368293.cms" data-type="tilCustomLink">Boris Johnson relaxes the national coronavirus lockdown and says families can meet to celebrate Christmas</a>

NSE declares Karvy Stock Broking as defaulter, expels from membership

The <keyword id="7642806" type="UNKNOWN" weightage="20" keywordseo="Key-Indian-equity-indices">key Indian equity indices</keyword> surged on Tuesday morning with the <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> gaining 400 points to trade well above the 40,000 mark. The <keyword id="2931774" type="PERSON" weightage="20" keywordseo="Nifty50">Nifty50</keyword> on <keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">the National Stock Exchange</keyword> (NSE) also rose over 100 points to trade near the 11,800 mark. Banking, finance and auto stocks led the sector-wide gains in the Indian market. A positive trend in the Asian markets also supported the domestic indices. Around 10.35 a.m., Sensex was at 40,158.59, higher by 401.01 points or 1.01 per cent from its previous close of 39,757.58. It opened at 39,990.75 and has so far touched an intra-day high of 40,217.27 and a low of 39,952.79 points. The Nifty50 on the National Stock Exchange was trading at 11,788.25, higher by 119.10 points or 1.02 per cent from the previous close. SEE ALSO:<a href="https://www.businessinsider.in/thelife/personalities/news/prajakta-koli-aka-mostlysane-advice-for-content-creators-on-the-fine-line-between-brand-collaborations-and-staying-honest-on-social-media/articleshow/79013162.cms" data-type="tilCustomLink"> Prajakta Koli aka MostlySane’s advice for content creators on the fine line between brand collaborations and staying honest on social media</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-tata-motors-zee-entertainment-icici-bank-cadila-healthcare-sterlite-technologies-and-others/articleshow/79012842.cms" data-type="tilCustomLink">Top stock movers — Tata Motors, Zee Entertainment, ICICI Bank, Cadila Healthcare, Sterlite Technologies and others</a> <a href="https://www.businessinsider.in/international/news/india-hits-out-at-pakistan-for-taking-advantage-of-coronavirus-pandemic-to-enhance-cross-border-terrorism/articleshow/79013307.cms" data-type="tilCustomLink">India hits out at Pakistan for taking advantage of coronavirus pandemic to enhance cross-border terrorism</a>

Sensex jumps 450 points, Nifty above 11,800, bank stocks shine

The <keyword id="62830" type="PERSON" weightage="20" keywordseo="Indian-Stock-market">Indian stock market</keyword> recovered from the initial decline on Tuesday morning to trade in the green with the <keyword id="10175204" type="UNKNOWN" weightage="20" keywordseo="bse-sensex-trading">BSE Sensex trading</keyword> over 150 points higher. Healthy buying was witnessed in the banking and FMCG stocks. At 10.50 a.m., Sensex was trading at 40,299.32, higher by 153.82 points or 0.38 per cent from its previous close of 40,145.50. It opened at 40,199.08 and has so far touched an intra-day high of 40,311.69 and a low of 39,978.39 points. The Nifty50 on <keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">the National Stock Exchange</keyword> was trading at 11,793.70, higher by 25.95 points or 0.22 per cent from its previous close. The top gainers on the Sensex so far were Kotak Mahindra Bank, Nestle India and NTPC, while the major losers were Infosys, ONGC and IndusInd Bank. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/hcl-tech-is-looking-to-expand-operations-in-canada-if-h-1b-visa-issues-persist/articleshow/78884838.cms" data-type="tilCustomLink"> EXCLUSIVE: HCL Tech is expanding operations in Canada as H-1B visa issues persist</a> <a href="https://www.businessinsider.in/business/news/bezos-vs-ambani-battle-eight-questions-regarding-amazons-disclosures-of-future-deal-will-be-in-the-spotlight/articleshow/78883583.cms" data-type="tilCustomLink">Bezos vs Ambani battle: Eight questions regarding Amazon's disclosures of Future deal will be in the spotlight</a> <a href="https://www.businessinsider.in/education/news/how-to-register-for-neet-counselling-2020-online/articleshow/78884869.cms" data-type="tilCustomLink">NEET counselling 2020 registrations begin today: Here’s all you need to know</a>

Indian equity markets trade higher led by banking, consumer good stocks

The <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> slumped over 1,000 points on Thursday breaking its 10 day gaining streak amid selloff across <keyword id="156526" type="PERSON" weightage="20" keywordseo="Global-stock-markets">global stock markets</keyword>. Heavy selling in banking and IT stocks weighed on the <keyword id="8739489" type="UNKNOWN" weightage="20" keywordseo="Domestic-indices">domestic indices</keyword>. Fading hopes of further stimulus in the US subdued the investor sentiments globally. Further resurgence of the novel <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> cases globally also impacted the stock markets. Sensex closed at 39,728.41, lower by 1,066.33 points or 2.61 per cent from its previous close of 40,794.74. It had opened at 41,048.05 and touched an intra-day high of 41,048.05 and a low of 39,667.47. The Nifty50 on <keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">the National Stock Exchange</keyword> closed at 11,680.35, lower by 290.70 points or 2.43 per cent from its previous close.

Indian stock market breaks its 10-day gaining streak as Sensex plummets over 1,000 points

The key Indian equity indices continued its recent bear run on Thursday with a gap-down opening. <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> plunged 575 points and the Nifty50 fell below the psychological mark of 11,000. Domestic indices were weighed down by a sell-off in the <keyword id="35189" type="COMPANY" weightage="20" keywordseo="asian-markets">Asian markets</keyword>. The sell-off in the Indian market was led by auto, consumer durables, metal and finance stocks. Around 10.10 a.m., Sensex was trading at 37,092.84, lower by 575.58 points or 1.53 per cent from its previous close of 37,668.42. It opened at 37,282.18 and has so far touched an intra-day high of 37,304.26 and a low of 37,058.79 The Nifty50 on the National Stock Exchange was trading at 10,961.65, lower by 170.20 points or 1.53 per cent from the previous close. Manish Hathiramani, technical analyst with <keyword id="1693325" type="COMPANY" weightage="20" keywordseo="Deen-Dayal-Investments">Deen Dayal Investments</keyword> said: "The index continues to remain weak and any rally up can be used to short this market. 10,900-10,950 is a support range for the market so traders can book profits at the current juncture and use any opportunity to short the October series futures contract at higher levels for a target of 10,750. The resistance on the upside is at 11,300." SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-ril-future-retail-ircon-international-dr-reddys-lab-ongc-hdfc-and-more/articleshow/78288918.cms" data-type="tilCustomLink"> Top stock movers — RIL, Future Retail, Ircon International, Dr Reddy's Lab, ONGC, HDFC and more</a> <a href="https://www.businessinsider.in/india/news/massive-fire-at-hazira-based-gas-processing-plant-ongc-in-surat-updates/articleshow/78287631.cms" data-type="tilCustomLink">Massive fire at ONGC’s Surat plant, no casualties reported</a>

Sensex tanks nearly 600 points, Nifty dips below 11,000 led by finance and auto stocks

The <keyword id="7642806" type="UNKNOWN" weightage="20" keywordseo="Key-Indian-equity-indices">key Indian equity indices</keyword> traded in the green on Monday morning with the <keyword id="53232" type="COMPANY" weightage="20" keywordseo="BSE-sensex">BSE Sensex</keyword> gaining over 300 points. Around 10.40 a.m., it was trading at 39,171.62, higher by 317.07 points or 0.82 per cent from the previous close of 38,854.55. It opened at 39,073.51 and has so far touched an intra-day high of 39,230.16 and a low of 39,070.86 points. The Nifty50 on <keyword id="163439" type="COMPANY" weightage="20" keywordseo="The-National-Stock-Exchange">the National Stock Exchange</keyword> (NSE) was trading at 11,540.00, higher by 75.55 points or 0.66 per cent from its previous close. Shares of <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> continued their bull run on Monday and scaled new highs. It touched a fresh all-time high of Rs 2,360 per share. Its market capitalisation soared to Rs 15.77 lakh crore. Currently, its trading at Rs 2,332.30, higher by Rs 13.45, or 0.58 per cent from the previous close. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amitabh-bachchan-to-be-the-first-indian-celebrity-voice-for-amazon-alexa/articleshow/78100304.cms" data-type="tilCustomLink">Amitabh Bachchan to be the first Indian celebrity voice for Amazon’s Alexa</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-hcl-wipro-tcs-tech-mahindra-ril-irctc-yes-bank-adani-green-and-more/articleshow/78099319.cms" data-type="tilCustomLink">Top stock movers — HCL, Wipro, TCS, Tech Mahindra, RIL, IRCTC, Yes Bank, Adani Green and more</a>

RIL scales record high, leads the market rally as Sensex soars 300 points

The <keyword id="163934" type="COMPANY" weightage="20" keywordseo="National-Stock-Exchange-of-India">National Stock Exchange of India</keyword> (<keyword id="6354646" type="COMPANY" weightage="20" keywordseo="nse">NSE</keyword>) subsidiary NSE Data &amp; <keyword id="6359249" type="COMPANY" weightage="20" keywordseo="Analytics">Analytics</keyword> on Wednesday announced <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> in technology start-up Capital Quants Solutions (CQS). The latest investment is a part of NSE's programme for investment in the fields of 'Analytics, Digital, Robotics, Security, <keyword id="107950" type="COMPANY" weightage="20" keywordseo="artificial-intelligence">Artificial Intelligence</keyword>, <keyword id="294572" type="COMPANY" weightage="20" keywordseo="machine-learning">Machine Learning</keyword>, <keyword id="6355684" type="COMPANY" weightage="20" keywordseo="Blockchain">BlockChain</keyword>'. The India based technology start-up focuses on providing software products using Machine Learning (ML) and Natural Language Proficiency (NLP). "The investment in CQS is a part of NSE's program for investment in the fields of 'Analytics, Digital, Robotics, Security, Artificial Intelligence, Machine Learning, BlockChain etc.' where start-ups require early stage financing and incubation to expand and realise their full potential," said Vikram Limaye, MD &amp; CEO, NSE. "Through such partnerships with select start-ups, which have demonstrated technological potential, NSE Group aims to further strengthen its technology leadership. These fields present innovative solutions and breakthrough technologies, which could potentially change the future of capital markets in India and the world." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/nazara-technologies-ipo-opens-today-should-you-subscribe/articleshow/81542657.cms">Nazara Technologies will be the first pure-play gaming company to debut on the Indian public markets – analysts are all in for it</a> <a href="https://www.businessinsider.in/stock-market/news/suryoday-small-finance-bank-initial-public-offer-ipo-worth-581-crore-live-should-you-subscribe/articleshow/81543610.cms">Suryoday Small Finance Bank IPO worth ₹581 crore opens today – should you subscribe?</a> <a href="https://www.businessinsider.in/tech/news/elon-musk-turns-down-1-million-for-the-tweet-he-was-selling-as-an-nft/articleshow/81546434.cms">Elon Musk turns down $1 million for the tweet he was selling as an NFT</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-easemytrip-ipo-allotment-and-listing-date/articleshow/81548106.cms">EaseMyTrip IPO allotment live – how to check allotment, listing date and more</a>

NSE subsidiary invests in data analytics startup Capital Quants

<keyword id="4785016" type="PERSON" weightage="20" keywordseo="IDBI-Bank-shares">IDBI Bank shares</keyword> on Monday zoomed 20 per cent to its <keyword id="9325257" type="UNKNOWN" weightage="20" keywordseo="highest-trading-permissible-limit">highest trading permissible limit</keyword> for the day after the company posted a profit of Rs 135 crore in the quarter ended March. The lender reported a profit after 13 straight quarters of net losses. At the BSE, it jumped 19.95 per cent to Rs 24.35 -- its upper circuit limit. The company's shares advanced 19.85 per cent to its highest trading permissible limit for day of Rs 24.45 at the National Stock Exchange (NSE). The bank, majority owned by <keyword id="6368369" type="COMPANY" weightage="20" keywordseo="life-insurance-corporation-of-india">Life Insurance Corporation of India</keyword> (LIC), had posted a net loss of Rs 4,918 crore in the corresponding period of last year. Total income rose to Rs 6,925 crore as against Rs 6,616 crore in the fourth quarter of 2018-19, the bank said on Saturday in a regulatory filing. The gross non-performing assets ratio inched up to 27.53 per cent during the quarter as against 27.47 per cent, while net NPA came down sharply to 4.19 per cent as against 10.11 per cent earlier. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hindustan-unilever-limited-ceo-sanjiv-mehta-says-the-product-inventory-range-will-be-smaller-and-simpler-hereon/articleshow/76128468.cms" data-type="tilCustomLink">HUL CEO says the product inventory range will be smaller and simpler hereon⁠— analysts believe others may have the same plan</a> <a href="https://www.businessinsider.in/business/news/maruti-records-86-pc-slump-in-may-sales-at-18539-units/articleshow/76129439.cms" data-type="tilCustomLink">Maruti Suzuki records 86% decline in total sales— sold 18,539 units in May</a>

IDBI Bank shares hit 20% upper circuit after robust fourth-quarter earnings

New Delhi, Mar 16 () A sudden decision to restrict trading in <keyword id="30335" type="ORGANIZATION" weightage="20" keywordseo="Shares">shares</keyword> of <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> to a maximum 25 per cent of holdings over the weekend has left institutional and other large investors, including FPIs, flummoxed as many of them might not be able to meet liquidity needs. While shares of Yes Bank rose sharply by more than 50 per cent to hit a high of Rs 40.40 apiece at the BSE on Monday following a restructuring scheme notified by the government on Saturday, one particular clause to restrict trading in the bank's shares left many investors concerned. Several market observers, including senior fund managers, said foreign portfolio investors (FPIs) and other institutional investors have raised concerns regarding difficulty in liquidating their positions in cash and derivatives segment because of this scheme. Since this has been done without any prior notification to the market, it has created a major problem for mutual funds and other investors with significant positions in derivatives segment as to how would they be able to meet their obligations because of derivatives being required to be physically settled. Under the scheme, if you hold 100 or more shares of Yes Bank, you can now sell a maximum of 25 per cent of your holdings (as on Friday, March 15, 2020) and the 75 per cent will be under lock-in for three years. While this message was conveyed to the investors by their brokers by Monday morning, many are finding it difficult to meet their liquidity needs and are planning to raise the issue with the concerned authorities. Several brokers, including HDFC Securities, also told investors that any trades in Yes Bank would be possible only through the desktop and not through mobile trading apps. They brokers have also circulated messages that if an investor has open e-margin position in Yes Bank, it will be converted to delivery on Monday and the investors have been asked to keep sufficient funds to avoid any shortfall. As on December 2019, more than 16 lakh non-promoter shareholders held Yes Bank shares (amounting to a total holding of nearly 92 per cent in the bank). These included 295 institutional investors -- 25 mutual fund schemes, 9 alternate investment funds, 238 FPIs, 4 financial and banking institutions, 8 insurers and 11 qualified institutional buyers -- together holding nearly 30 per cent stake. Besides, a large number of individual shareholders together had nearly 49 per cent stake or more than 121 crore shares. Also, the troubled private lender will now be dropped from benchmark index Nifty 50, banking index Nifty bank and other Nifty indices from March 19, as against the earlier announced date of March 27, said NSE Indices, a subsidiary of the National Stock Exchange (NSE). In light of the recent developments relating to Yes Bank and its reconstruction scheme, NSE Indices' Index Maintenance Sub-Committee has decided to accelerate the removal of Yes Bank from Nifty 50 and Nifty Bank and also remove it from all Nifty equity indices from Thursday, March 19, it added. Besides Nifty 50 and the Nifty bank index, Yes Bank will also be removed from Nifty 100 and Nifty 500, among other indices. On Saturday, the government had notified the Yes Bank Limited Reconstruction Scheme, 2020, a day after the union cabinet's approval. Under the scheme, State <keyword id="6355303" type="DOMAIN" weightage="20" keywordseo="bank-of-india">Bank of India</keyword> will invest for 49 per cent equity in Yes Bank and other investors are also being invited. There will be a three-year lock-in period for all the investors. However, the lock-in period for SBI would be only for the 26 per cent of the shareholding. The moratorium, which was placed by <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> on March 5, restricting withdrawal to Rs 50,000 per account, will also be lifted by 6 pm on Wednesday. BJ ANSANS

Yes Bank's trading curbs baffle investors who were looking to gain from the sharp spike

New Delhi, Feb 14 () The <keyword id="53581" type="COMPANY" weightage="20" keywordseo="NATIONAL-STOCK-EXCHANGE">National Stock Exchange</keyword> (NSE) has declared three stock brokers -- <keyword id="8544578" type="COMPANY" weightage="20" keywordseo="Vrise-Securities">Vrise Securities</keyword>, <keyword id="8777701" type="COMPANY" weightage="20" keywordseo="kaynet-finance">Kaynet Finance</keyword> and BMA Wealth Creators -- as defaulters for non-compliance with the regulatory provisions of the bourse. In addition, they have been expelled from the membership of the exchange, the NSE said in three separate circulars. The move effective from February 13 has been taken as these brokers failed to comply with the NSE guidelines, they added. Under the guidelines, stock brokers are required to fulfill their obligations and should not involve in any misconduct, or unprofessional conduct among others. In January, the markets regulator Sebi had prohibited Vrise Securities from registering any new client for six months for violating broker norms and in the same month, Sebi imposed a fine of Rs 3 lakh on the broker for not complying with Securities Contract Regulation Act (SCRA). Separately, Sebi last month confirmed its interim order that restrained BMA Wealth Creators (now known as BRH Wealth Kreators) from the securities market for its failure to segregate securities of clients, failure to unpledge and return the securities to the clients upon fulfilment of pay-in obligation and making unauthorised transfer of shares from the client's demat accounts. The Securities and <keyword id="191497" type="COMPANY" weightage="20" keywordseo="Exchange-Board-of-India">Exchange Board of India</keyword> (Sebi) on Thursday said it has developed an online system to timely detect misuse of clients' securities by stock brokers and alert exchanges in case of diversion of investors funds. This came after the regulator observed that some brokers have misused clients' securities received as collateral to meet their own settlement obligation or obligations of other clients. SP SHWSHW

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