NSE takes steps for listing
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Mumbai, Feb. 26: The National Stock Exchange (NSE) today initiated a process of getting listed, but maintained its intention to self-list.
Market regulator Sebi has allowed bourses to get listed. However, the regulator has ruled that a stock exchange cannot list its shares on its own platform. It will have to get listed on another exchange.
The Bombay Stock Exchange is reportedly okay with the idea of cross listing. However, the NSE is against such a move and is keen on listing on its own platform. It is learnt that Sebi is not in favour of relooking its norms with regard to cross-listing of bourses.
The NSE has set up a listing committee to engage with its shareholders on the self-listing agenda, the bourse said.
Facing intense pressure from its stakeholders to go public, the NSE said it was on course to list.
"The NSE board has formed a listing committee, comprising board members, shareholders and management representatives, to accelerate the process of listing and assist the managing director and CEO to implement the same," it said.
The decision to form the panel was taken at the last board meeting. The board has authorised Chitra Ramkrishna, managing director and CEO of NSE, to induct members onto the panel apart from shareholder representatives who are currently not represented on the board.
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The national capital on Saturday morning recorded a minimum temperature of 27.1 degrees Celsius, 0.6 notch above the season's average, according to the India Meteorological Department (IMD).
On Friday, Delhi witnessed 47.4 degrees Celsius in Najafgarh, making it the hottest place in the country.
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Shareholders in Nestle India have rejected a company proposal to increase royalty payments to its Swiss parent Nestle, the company said late on Friday.
The motion called for the royalty paid to its parent to climb to 5.25 per cent of net sales, net of taxes, compared to the current level of 4.5 per cent. The increase was proposed at a rate of 0.15 per cent per annum.
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Shares of Zee Entertainment soared up to 5.2 per cent at Rs 141.65 per share on the BSE in Saturday’s intraday trade. The hike in the stock prices came after the company delivered a turnaround in quarterly growth for the January-March quarter of fiscal year 2023-24 (Q4FY24).
In the March quarter, the company reported a consolidated net profit of Rs 13.35 crore, marking a reversal from a consolidated net loss of Rs 196.03 crore in the same period of the previous fiscal year.
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