NSE mulls tie- up with European bourses
KOLKATA: The National Stock Exchange of India ( NSE) is in talks to link its benchmark index Nifty with European bourses like FTSE.’We are in discussion with FTSE. Talks are on at different l
evels. It might take some time to list FTSE on the exchange ( NSE),’NSEs senior vice president R. Sundararaman told mediapersons on the sidelines of a programme here. NSE Aug 29 allowed trading in futures in USalt39 S& P 500 and Dow Jones Industrial Average indices, and in options in S& P 500.’It will enable Indian investors to take positions in international markets. We find that these products are versatile and less costly. These products have good potential in India,’Sundararaman said. This is the first time in the world that futures contract on the S& P 500 Index have been introduced and listed on an exchange outside its home.
DIAL told to abolish contract system
NEW DELHI: The Supreme Court directed Delhi International Airport Limited ( DIAL) to comply with Centres order to abolish its system of hiring contractual labour saying privatisation of airport does not mean government has no control over it. A bench of justices Dalveer Bhandari and A K Patnaik directed DIAL to pay a compensation of Rs 5 lakh to each of its 136 trolley retrievers who were not reinstated after expiry of their contracts.
The bench turned down the plea of DIAL that governments notification for regularisation of services of trolley retrievers is not binding on it as it is a private player. AAI is under an obligation to follow the directions of the central government and if DIAL has admittedly assumed those obligations through the OMDA ( Operation, Management, Development Agreement), then DIAL is presumably also obligated to follow such directions,” the bench said.
Prakash Constrowell plans Rs 60 cr IPO
NEW DELHI: Prakash Constrowell, engaged in infrastructure development and civil construction, today fixed the price band at Rs 130 to Rs 138 per equity share for the Rs 60- crore initial public offering ( IPO) which opens on Monday. ” The company has fixed a price band of Rs 130 to Rs 138 per equity share of Rs 10 each and bid lot of 50 equity shares for its proposed public issue of equity shares of Rs 60 crore opening on Monday, September 19,” Prakash Constrowell said in a statement.
The IPO is through 100 per cent book building issue. The issue will open on September 19 and closes on September 21. The company proposes to utilise the net proceeds of the issue to meet working capital requirement, investment in construction equipment and investment in subsidiaries in addition to meet the general corporate purposes and public issue expenses.
Metal, metallurgical equipment expo
MUMBAI: The second edition of the international exhibition on metal and metallurgical equipment, technologies and supplies – MetEx India 2011 – will be held from September 22- 24 in Bangalore.
The expo will offer latest machinery and technological innovations and cover the entire process chain of raw material, production, manufacturing and automation. It will also display latest products and developments in metals and metallurgical industry. Metex 2011 has companies from Austria, France, Germany, the UK and US.
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