weekly news (23rd aug to 27 th aug)

Submitted By:Navneet MalhiMBA 2A

BSE draws hordes of investors, despite lingering concerns over the listing of its shares.

Retail as well as high net worth investors (HNI) participating in off - market deals.

Widening of shareholder base will lead to better price discovery once the shares are listed.

As on 31/3/10 As on 31/3/09

Resident Individuals 85.41 60.63

Bodies Corporate 11.22 35.76

HUF 2.92 2.56

Banks & FIs 0.1 0.33

NRIs 0.21 0.26

Foreign Bodies Corp 0.12 0.39

FII/Trust 0.02 0.07

Total 100 100

No. of Shareholders 4,928 1,524

SEBI to soon cap the number of companies an independent director can serve.

The move aimed at ensuring an independent director get enough time to analyse board meeting agendas.

The proposal is a fallout of the accounting fraud at the erstwhile Satyam Computer(now Mahindra Satyam).

According to Prime Database, 324 independent directors are serving

In a bid to clean their loss-making health portfolios, the four public sector insurers have decided not to undercut each other in group mediclaim.

Undercutting – a term used by insurers for quoting rates lower rates than those prevailing in the market.

GIPSA floated a tender inviting expressions of interest from entities that wish to partner them to set up a captive third-party administrator.