May 25, 2012

 

Press Release No. 1

''NSE organises Seminar on Independent Directors, to promote high Standards in Corporate Governance''

 

The National Stock Exchange organized a seminar on Independent Directors in Mumbai on the 25th of May.  The goal of the seminar was to support SEBI’s efforts in improving effectiveness of Independent Directors.  CFA Institute, the global membership organization of investment professionals, partnered with NSE for putting the seminar together. The seminar was also supported by The National Institute of Securities Markets (NISM) and the Bombay Stock Exchange (BSE).

 

NSE has been playing a leadership role in promoting high standards of corporate governance, principally by ensuring that clause 49 of the listing agreement is complied with, by the companies listed on the exchange.

 

Mr. Rajeev Kumar Agarwal, Whole Time Member, SEBI and the chief guest at the conference said “Good governance is the surest way to benefit the shareholders.  Independence of the Board plays a very critical role in ensuring Good Governance.  The institution of Independent Directors, therefore, needs to be strengthened.”

Joint MD of the National Stock Exchange, Ms. Chitra Ramkrishna said, “Independent Directors carry important responsibilities toward companies’ stakeholders, particularly towards minority shareholders, and there is a need to increase awareness among existing and prospective Independent directors on the ways in which they can discharge their duties effectively. We hope that there are many more initiatives like this.”

The conference was widely attended by Independent directors, CEOs, CFOs, academics and experts in the field.

 

At the  conference , emphasis was placed on the role of Independent directors , who provide the necessary checks and balances to ensure that due importance is given to the interest of minority shareholders in the conduct of the company’s  affairs. The discussion centered around issues such as ‘effectiveness of Independent Directors’ and the ‘search for true independence of Independent directors’. There was also a discussion on what they deliver in reality versus what is expected of them.

 

NSE had recently published a book on Corporate Governance (available on its website www.nseindia.com) which includes high quality articles from practitioners, academics, industry leaders and other experts.

 

Press Release No. 2

Clarification by Advanta India Limited

 

Substantial increase in trading volumes has been observed in Advanta India Limited.

 

The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company.

 

Advanta India Limited has vide its letter inter-alia stated, "As of date we do not have any undisclosed price sensitive information having bearing on the operation and performance of the Company that may impact the price/volume behavior in the script."

 

 

Press Release No. 3

NSE completes 3061st Normal Settlement

 

The Exchange has successfully completed its 3061st Normal Settlement (Rolling T+2 following SEBI directive) since inception i.e., Settlement Number N – 2012097 on May 25, 2012. The settlement statistics are as follows:   

 

Particulars

 

 

N-2012097

Total traded quantity (lakhs)

4938.24

Total traded value (Rs. In Crores)

8430.11

Total value of the settlement (Securities) (Rs. In Crores)

2109.30

Total value of the settlement (Funds) (Rs. In Crores)

585.84

Shortages for the settlement

0.10%

% of  Delivery ( No. of shares deliverable / No. of shares traded )

25.08%

 

Retail Debt Market has completed its 2334th settlement, details of which are as follows:

 

Settlement No.

Traded Value (Rs.)

Settlement Value (Rs.)

 

 

Securities

Funds

D- 2012097

NIL

NIL

NIL