November 19, 2012

 

Press Release No. 1

NSE launches financial literacy initiative ' Jagruti' in Ajmer, in partnership with India Post

 

India’s leading stock exchange, the National Stock exchange (NSE) has partnered with India Post of the Government of India, to start a financial literacy initiative at fifty post offices in the country. In Rajasthan, this initiative was flagged off from Ajmer on the 19th of November.

 

In partnership with India Post, NSE has set up a large sized screen at the Ajmer head post office, on the busy Prithviraj Marg, to create awareness among the people of Ajmer, on the ideal products to invest in, on ways to grow their savings and the precautions they should take, while trading.  The screen will keep flashing data on NSE’s benchmark index, Nifty 50, data on stocks and other indices, give advice on investing wisely as well as information on products of India Post. The screen was inaugurated by senior officials from NSE and India post.  Similar screens have been installed at the post offices in Pushkar and Madanganj in Rajasthan.

 

In many ways, Ajmer is an ideal city to start a financial literacy campaign, because it has seen a lot of economic development over the years, largely driven by the heavy tourist inflow to visit the Ajmer Dargah, the Sufi shrine of Moiuddin Chisti. The Dargah has universal appeal and is visited by people from all faiths. Ajmer is also a major manufacturing and trading hub of textiles and leather, which has contributed significantly to the city’s economic growth.

 

Joint MD of NSE, Ms Chitra Ramkrishna said, “India Post has a very large reach, through which we aim to increase financial literacy in the tier two and tier three cities of India.

 

In Ajmer, the head post office has very high footfalls, especially during the peak tourist season. We hope this drive will help people in this region, to grow their savings and enterprises.’’

 

The screen at the Ajmer post office will carry information on the do’s and don’ts of trading, for instance ‘don’t share your trading password with anyone’, it is not mandatory to give a power of attorney to your broker and so on. The screen will also convey information on products for retail investors like Gold exchange traded funds and Nifty exchange traded funds, cost effective and transparent options to invest in gold and NSE’s benchmark index, Nifty 50.

 

It will also carry information on products of India Post, like Online money transfers, Electronic money orders, Speed post, Savings certificates, Postal life insurance and Logistics solutions for Corporates.

 

The alliance with India Post comes after a series of steps by NSE, to increase financial literacy in the country. NSE has a tie up with more than 90 colleges in different parts of the country, to conduct short duration courses on the capital markets called the NSE Certified Capital Market Professional or the NCCMP. In Rajasthan, the exchange has tied up with the Advent Age group of institutions in Udaipur and Indraprastha College of Management & technology in Jodhpur, to conduct these NCCMP courses.

 

NSE has also tied up with three prominent universities for MBA and BBA (Bachelors in Business Administration) courses, including Punjabi university in Patiala, Guru Gobind Singh Indraprastha University at Delhi and the Maharishi Dayanand University in Rohtak. In another recent partnership, NSE has joined hands with IIM Shillong, to start a two year post graduate course in financial markets, the first to be started by an IIM.

 

 

Press Release No. 2

News about Honeywell Automation India Limited

 

The media had reports that the parent company Honeywell Inc is looking forward to de-list Honeywell Automation India Limited.

 

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

 

Honeywell Automation India Limited has vide its letter inter-alia stated, "The news in media is clearly speculative and incorrect in nature and media has not accounted for the official statement from the company".

 

 

Press Release No. 3

News about Uttam Galva Steels Limited and Lloyds Steel Industries Limited

 

The media had reports that Uttam Galva Steels Limited has acquired majority stake in Lloyds Steel Industries Limited.

 

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the companies.

 

Uttam Galva Steels Limited has vide its letter inter-alia stated, "We would like to clarify that the company has not acquired any stake in Lloyds Steel Industries Limited (LSIL). However, Miglani Family - Controlled Group Companies namely Ultimate Logistics Solutions Pvt. Ltd and Metallurgical Engineering & Equipment Ltd are in process of acquiring majority stake in LSIL".

 

Lloyds Steel Industries Limited has vide its letter inter-alia stated, "We would like to clarify that Uttam Galva Steels Limited has not acquired any stake in the company. However, Miglani family- Controlled group companies namely Ultimate Logistics Solutions Pvt Limited & Metallurgical Engineering & Equipment limited are in process of acquiring majority stake in the company for which the open offer was also made to all its shareholders in terms of regulation 20 of SEBI (SAST) regulation 2011".

 

 

Press Release No. 4

Market-wide Position Limit in PUNJLLOYD

 

The derivative contracts in the underlying PUNJLLOYD have crossed 95% of the market-wide position limit on November 19, 2012. It is hereby informed that all clients/ members shall trade in derivative contracts of PUNJLLOYD by offsetting their existing positions till the open interest comes down to 80% of the market wide position limit.

 

 

Press Release No. 5

Market-wide Position Limit in WELCORP

 

The derivative contracts in the underlying WELCORP have crossed 95% of the market-wide position limit on November 19, 2012. It is hereby informed that all clients/ members shall trade in derivative contracts of WELCORP by offsetting their existing positions till the open interest comes down to 80% of the market wide position limit.