sebi · grant of exemption to the acquirers grandhi varalakshmi mallikarjuna rao trust 920 ... gmr...

SEBIBULLETIN

AUGUST 2013 VOL. 11 NUMBER 8

^maVr¶ à{V^y{V Am¡a {d{Z‘¶ ~moS>©Securities and Exchange Board of India

EDITORIAL COMMITTEE

• Mr. Ananta Barua

• Mr. J. Ranganayakulu

• Dr. Anil Kumar Sharma

The Securities and Exchange Board of India Bulletin is issued by the Department of Economic and Policy Analysis, Securities and Exchange Board of India under the direction of an Editorial Committee. SEBI is not responsible for accuracy of data/information/ interpretations and opinions expressed in the case of signed articles/speeches as authors are responsible for their personal views. SEBI has no objection to the material published herein being reproduced, provided an acknowledgement of the same is made. This monthly Bulletin is normally published in the third week of the succeeding month. The soft copy of SEBI Bulletin is available free of cost to the subscribers/readers, who register at [email protected] along with their complete address. A readable version of SEBI Bulletin is available at http://www.sebi.gov.in. Any comments and suggestions on any of the features/ sections may be sent to [email protected].

SECURITIES AND EXCHANGE BOARD OF INDIA

Contents

Page

CAPITAL MARKET REVIEW 887

GLOBAL MARKET REVIEW – AUGUST 13 898

PRESS RELEASES 919

A. General 919

1. Circular for Operational, Prudential and Reporting Norms for Alternative Investment 919 Funds (AIFs)

2. Circular regarding Utilisation period for FII investments in Government Debt Limit 919

B. Orders 920

1. Orders in the matter of trading by connected clients 920

2. Grant of exemption to the acquirers Grandhi Varalakshmi Mallikarjuna Rao Trust 920 and others for the proposed indirect acquisition of shares of M/s. GMR Infrastructure Limited (Target Company)

3. Order in the matter of M/s. Nakoda Limited directing M/s. G.P. Shah Investment 920 Private Limited, and others to make combined public announcement.

4. Order in the matter of M/s. Sai Prasad Foods Ltd. and its Directors/ Promoters 921

5. Order against M/s. HB Securities Limited in the matter of M/s. Jagsonpal 921 Pharmaceuticals Limited

CIRCULARS 922

1. Arbitration Mechanism in Stock Exchanges – Jurisdiction 922

2. Arbitration Mechanism in Stock Exchanges - Investor Service Centres 922

3. Revised Position Limits for Exchange Traded Currency Derivatives 923

4. FII/ QFI investments in Security Receipts 924

5. Operational, Prudential and Reporting Norms for Alternative Investment Funds (AIFs) 924

6. Utilization period for Government Debt Limits 929

ORDER PASSED BY CHAIRMAN/MEMBERS AND ADJUDICATING OFFICERS 931

HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKET 939

ANNEXURE 943

PUBLICATIONS 1016

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AUGUST SEBI BULLETIN 2013

1. Trends in Primary Market

A. Equity and Debt Issue

During July 2013, ̀ 763.2 crore were mobilised in the primary market by way of three issues as compared to `432 crore mobilised through two issues in June 2013, showing an increase of around 76.7 percent the previous month. In July 2013, there were two equity

CAPITAL MARKET REVIEW

issues. The cumulative amount mobilised for the financial year 2013-14, so far, stood at ` 2,257 crore through nine issues as against ` 1,128 crore raised through eleven issues during the corresponding period of 2012-13.

Table 1: Primary Market Trends

ItemsJul-13 Jun-13 2013-14$ 2012-13$

No. of Issues

Amount (` crore)

No. of Issues

Amount (` crore)

No. of Issues

Amount (`crore)

No. of Issues

Amount (`crore)

1 2 3 4 5 6 7 8 9a) Public Issues (i) +(ii) 3 763.2 1 15.6 8 1,840 8 1,060.2 i) Public issue (Equity) 2 11.0 1 15.6 6 954.5 7 460.2 of which IPOs 2 11.0 1 15.6 6 954.5 7 460.2 FPOs 0 0.0 0 0.0 0 0.0 0 0.0 ii) Public Issue (Debt) 1 752.2 0 0.0 2 885.9 1 600.0b) Rights Issues 0 0.0 1 416.2 1 416.2 3 67.2Total Equity Issues (i+b) 2 11.0 2 431.8 7 1,370.7 10 527.5Total (a + b) 3 763.2 2 431.8 9 2,256.6 11 1,127.5

$ indicates as on last trading day of July of the corresponding financial year.

* Debt Figures for July 2013 are provisional

IPOs imply Initial Public Offers, FPOs imply Follow on Public Offers.

Figure 1: Primary Market (Equity Issues) Trends through Public and Rights Issues (`crore)

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B. QIPs Listed at BSE and NSE

cumulative amount mobilised through QIP route during 2013-14 stood at ` 5,203 crore through thirteen issues. (Details in Annex- Table 9).

C. Preferential Allotments Listed at BSE and NSE

There were 27 preferential allotments (` 1,605 crore) listed at BSE and NSE during July 2013 as compared to 33 preferential allotments (` 11,878 crore) in June 2013.

The cumulative mobilised amount for the financial

year 2013-14, stood at ` 29,498 crore through 153 preferential allotments (of which 68 allotments amounting ` 27,756 crore were listed at both BSE and NSE) (Details in Annex- Table 10).

D. Private Placement of Corporate Debt Reported to BSE and NSE

In the corporate debt market, ` 12,182 crore were raised through 141 issues by way of private placement listed at BSE and NSE during July 2013 compared to ` 35,214 crore through 222 issues in June 2013. The cumulative privately placed amount for the financial year 2013-14 stood at ` 1,22,967

crore through 805 issues (of which 387 issues of ` 61,480 crore reported to only NSE, 378 issues of ` 37,640 crore reported to only BSE and 40 issues of ` 23,847 crore reported to both BSE and NSE)(Details in Annex- Table 11).

E. Resource Mobilisation by Mutual Funds

During June 2013, mutual funds saw a net outflow of ` 50,067 crore (of which ` 51,625 crore outflow was from private sector mutual funds while public sector mutual funds saw inflow of ` 1,558 crore) as compared to a net outflow of ` 48,403 crore (of which ̀ 40,721 crore outflow was from private sector mutual funds while public sector mutual funds saw outflow of ` 7,682 crore) during June 2013.

During the financial year 2013-14 so far, mutual funds net mobilised ` 45,539 crore as compared to ` 1,33,976 crore mobilized in corresponding period of 2012-13. The market value of assets under management stood at ` 7,60,833 crore as on July 31, 2013 as compared to ` 8,11,481 crore as on June 30, 2013, indicating a decrease of 6.2 percent. (Details

in Annex-Table 58).

II. Trends in the Secondary Market

During July 2013, there were two QIP issues worth ` 918 crore in the market as compared to two QIP issues worth `1,066 crore in June 2013. The

S&P BSE Sensex closed at 19345.7 on July 31, 2013, as against 19395.81 on June 28, 2013, registering a decrease of 51.1 points (0.3 percent). During July

2013, Sensex recorded an intraday high of 20351.06 on July 23, 2013 and an intraday low of 19126.82 on July 31, 2013.

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Figure 2: Movement of Sensex and Nifty

Table 2: The Basic Indicators in Cash Market

Particulars 2012-13 2013-14 Jun-13 Jul-13Percentage change over

the previous month1 2 3 4 5 6

A. Indices S & P BSE Sensex 18,836 19,396 19,346 19,396 0.3 CNX Nifty 5,683 5,842 5,742 5,842 1.7 SX 40 - 11,494 11,494 11,494 - B. Market Capitalisation ( ` crore) BSE 63,87,887 62,63,106 64,05,118 62,63,106 -2.2 NSE 62,39,035 60,98,779 62,48,442 60,98,779 -2.4 MCX-SX 61,96,199 60,46,304 62,14,438 60,46,304 -2.7C. Gross Turnover ( ` crore) BSE 5,48,774 90,976 36,377 41,535 14.2 NSE 27,08,279 4,55,190 2,07,944 2,43,390 17.0 MCX-SX 33.4 2,168.7 2,972.3 1,041.4 -65.0D. P/E Ratio S & P BSE Sensex 16.9 17.5 17.0 17.5 2.9 CNX Nifty 17.6 17.1 17.8 17.1 -4.0 SX 40 - - 19.2 18.8 -2.1

- indicate not available

MCX-SX started trading in the cash segment from February 11, 2013.

Source: BSE, NSE and MCX-SX

CNX Nifty closed at 5742.0 on July 31, 2013 compared to 5842.2 on June 28, 2013, indicating a decrease of 100.2 points (1.7 percent). During July 2013, Nifty recorded an intraday high of 6093.35 on July 23, 2013 and an intraday low of 5675.75 on July 31, 2013.

SX40 closed at 11,505.5 on July 31, 2013 as against 11,494 on June 28, 2013, 2013, indicating an increase of 11.2 points (0.1 percent). During July 2013, SX40 recorded an intraday high of 12150.44 on July 22, 2013 and an intraday low of 11396.45 on July 31, 2013.

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Figure 3: Monthly Average of BSE Turnover and Sensex

The market capitalisation of BSE decreased by 2.2 percent to ` 62,63,106 as on July 31, 2013 from

` 64,05,118 as on June 28, 2013. Market capitalisation of NSE, stood at ` 60,98,779 crore as on July 31, 2013 compared to ` 62,48,442 crore as on June 28,

2013, indicating a decrease of 2.4 percent. The market capitalisation of MCX-SX, decreased by 2.7 percent to ` 60,46,304 crore as on July 31, 2013 compared to ` 62,14,438 crore as on June 28, 2013.

Figure 4: Monthly Average of NSE Turnover and Nifty

The monthly turnover of BSE (cash segment) increased by 14.2 percent from ` 36,377 crore in June 2013 to ` 41,535 crore in July 2013. Monthly turnover of NSE (cash segment) also increased by 17.0 percent from

` 2,07,944 crore in June 2013 to ` 2,43,390 crore in July 2013. However, the monthly turnover at MCX-SX decreased by 65.0 percent from ` 2,972.3 crore in June 2013 to ` 1,041.4 crore in July 2013.

The PE ratio of S&P BSE Sensex was 17.5 on July 31, 2013 as against 17.0 as on June 28, 2013. The PE ratio of CNX Nifty was 17.1 on July 31, 2013

as against 17.8 as on June 28, 2013. The PE ratio of MCX-SX SX 40 was 18.8 on July 31, 2013 compared to 19.2 as on June 28, 2013.

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Table 3: Performance of Indices at BSE and NSE during July 2013 (Percent)

BSE NSE

Index Change over

Previous monthVolatility Index

Change over Previous month

Volatility

1 2 3 4 5 6S & P BSE Sensex 0.1 1.0 CNX Nifty -2.7 1.0BSE 100 -3.0 1.0 CNX Nifty Junior -6.1 1.0BSE 200 -3.6 1.0 CNX 500 -4.2 1.0BSE 500 -3.9 0.9 CNX Mid-cap -8.5 1.0BSE Small Cap -7.7 0.7 CNX 100 -3.2 1.0BSE FMCG 3.0 1.6 CNX Defty -5.8 1.4BSE Consumer Durables 0.9 1.6 CNX IT 19.3 1.5BSE Capital Goods -12.1 1.8 Bank Nifty -14.5 1.9BSE Bankex -14.5 1.9 Nifty Mid-cap 50 -6.3 1.3BSE Teck 17.3 1.3 BSE Oil & Gas -5.1 1.5 BSE Metal -12.9 1.6 BSE Auto -3.2 0.9 BSE PSU -12.8 1.3 BSE Healthcare 1.3 0.7

Source: BSE and NSE.

In July 2013, at NSE, only one out of nine indices closed positive. Only CNX IT registered a positive growth at 19.3 percent. Among the indices closing negative, Bank Nifty registered the biggest decline of 14.5 percent followed by CNX Mid-cap (8.5 percent), CNX Nifty Mid-cap 50 Index (6.3 percent), CNX Nifty Junior Index (6.1 percent), CNX Defty (5.8 percent), CNX 500 Index (4.2 percent), CNX 100 Index (3.2 percent) and CNX Nifty Index (2.7 percent).

During July 2013, among BSE indices, the daily volatility of BSE Bankex Index was highest at 1.9 percent followed by BSE Capital Goods Index (1.8 percent), BSE Metal Index, BSE FMCG Index and BSE Consumer Durables Index at 1.6 percent each, BSE Oil & Gas Index (1.5 percent), BSE Teck Index (1.3 percent), BSE PSU Index (1.3 percent), S&P BSE Sensex Index, BSE 100 Index

At the end of July 2013, only five out of 15 indices closed positive compared to three out of 15 BSE indices closing positive at the end of the previous month. Among BSE indices, BSE Teck Index recorded the highest growth at 17.3 percent over its previous month’s closing value, followed by BSE FMCG (3.0 percent), BSE Healthcare (1.3 percent), BSE Consumer Durables Index (0.9 percent) and S&P BSE Sensex Index (0.1 percent). Among the indices closing negative, BSE Bankex Index registered the biggest decline of 14.5 percent followed by BSE Metal Index (12.9 percent), BSE PSU Index (12.8 percent), BSE Capital Goods (12.1 percent), BSE Small Cap Index (7.7 percent), BSE Oil & Gas (5.1 percent), BSE 500(3.9 percent), BSE 200 (3.6 percent), BSE Auto Index (3.2 percent) and BSE 100 (3.0 percent), BSE Capital Goods (3.1 percent)

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and BSE 200 Index at 1.0 percent each, BSE 500 Index (0.9 percent), BSE Auto Index (0.9 percent), BSE Healthcare Index (0.7 percent) and BSE Small Cap Index (0.7 percent).

At NSE, among all the indices, daily volatility of Bank Nifty Index was highest at 1.9 percent Index

followed by CNX IT Index (1.5 percent), CNX Defty (1.4 percent), Nifty Mid-cap 50 Index (1.3 percent), CNX Mid-cap Index, CNX Nifty Index, CNX Nifty Junior Index, CNX 500 Index and CNX 100 Index each at 1.0 percent.

III. Trends in Depository Accounts

The total number of investor accounts was 128.4 lakh at NSDL and 84.7 lakh at CDSL at the end of July 2013. The number of investor accounts in July 2013 increased by 0.4 percent over the previous month at both NSDL and CDSL. A comparison

with July 2012 showed there was an increase in the number of investor accounts to the extent of 4.8 percent at NSDL and 5.8 percent at CDSL (Details

in Annex- Table 65).

IV. Trends in Derivatives Segment

A. Equity Derivatives

The monthly turnover in equity derivative market at NSE decreased by 8.9 percent from ` 31,90,887 crore in June 2013 to ` 31,80,393 crore in July 2013. The monthly turnover of index futures increased by 3.0 percent from ` 2,46,351 crore in June 2013 to ` 2,53,644 crore in July 2013. The monthly turnover of stock futures increased by 24.7 percent from ` 3,43,493 crore in June 2013 to ` 4,28,504 crore in July 2013.

The monthly turnover of put options on index increased by 1.7 percent from ` 11,80,855 crore in July 2013 to ` 11,60,862 crore in June 2013. The monthly turnover of call options on index decreased by 16.2 percent from ` 12,77,075 crore in June 2013 to ` 10,70,559 crore in July 2013. Further, the monthly turnover of put options on stock increased by 60.0 percent from ` 57,156 crore in June 2013 to

` 91,427 crore in July 2013. The monthly turnover of call options on stock also increased by 46.7 percent from ` 1,05,949 crore in June 2013 to ` 1,55,403 crore in July 2013.

The open interest in value terms in equity derivative segment increased by 11.3 percent from ` 1,02,791 crore as on June 28, 2013 to ̀ 1,14,454 crore as on July 31, 2013. The open interest in value terms in equity derivative segment for Index Futures, Stock Futures, Put Options on Index, Call Options on Index, Put Options on Stock and Call Options on Stock at the end of July 2013 stood at ` 12,615 crore, ` 27,490 crore, ` 34,007 crore, ̀ 33,682 crore, ̀ 2,534 crore and ̀ 4,125 crore respectively, with corresponding 19.7 percent decline, 9.0 percent decline, 1.5 percent growth, 15.7 percent decline, 45.9 percent growth and 52.6 percent decline as compared to end of June 2013.

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Monthly turnover in equity derivative segment of BSE increased by 113.8 percent from ` 6,73,225 crore in June 2013 to ` 14,39,535 crore in July 2013. The monthly turnover of index futures increased by 54.0 percent from ` 6,521 crore in June 2013 to ` 10,045 crore in July 2013. Further, the monthly turnover of stock futures increased by 80.2 percent from ` 3,854 crore in June 2013 to ` 6,945 crore in July 2013.

The monthly turnover of put options on index increased by 226.3 percent from ` 1,88,943 crore in June 2013 to ` 6,16,596 crore in July 2013. The monthly turnover of call options on increased by 70.1 percent from ` 4,73.278 crore in June 2013 to

` 8,05,258 crore in July 2013. The monthly turnover of put options on stock increased by 43.5 percent from ` 239 crore in June 2013 to ` 343 crore in July 2013. The monthly turnover of call options on stock decreased by 10.7 percent from ` 390 crore in June 2013 to ` 348 crore in July 2013.

The open interest in value terms in equity derivative segment increased manifold from ` 1,242 crore as on June 28, 2013 to ` 1,14,454 crore as on July 31, 2013. The open interest in value terms in equity derivative segment for Index Futures, Put Options on Index, Call Options on Index, Stock Futures at the end of July 2013 stood at ` 12,615 crore, ` 34,007 crore, ` 33,682 crore and ` 27,490 crore respectively.

Monthly turnover in equity derivative segment of MCX-SX increased by 111.1 percent from ` 15,484 crore in June 2013 to ` 32,686 crore in July 2013. Index futures registered turnover of ` 15,779 crore in July 2013. Turnover in Stock futures increased by 8.7 percent from ` 4,648 crore in June 2013 to `5,055 crore in July 2013.

During July 2013, equity derivatives turnover at BSE constituted 30.9 percent of total equity derivatives turnover in India, MCX-SX constituted 0.7 percent whereas that of NSE represented 68.4 percent.

Figure 5: Trends of Equity Derivatives Segment at NSE (`crore)

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Table 4: Trends in Equity Derivatives Market

Particular

NSE BSE MCX-SX

Jul-13 Jun-13Percentage

ChangeOver Month


ChangeOver Month


ChangeOver Month

1 2 3 4 5 6 7 8 9 10

A. Turnover (` crore) (i) Index Futures 2,53,644 2,46,351 3.0 10,045 6,521 54.0 15,779 10,428.4 51.3 (ii) Options on Index Put 11,80,855 11,60,862 1.7 6,16,596 1,88,943 226.3 6,375 178.5 3,472.0 Call 10,70,559 12,77,075 -16.2 8,05,258 4,73,278 70.1 5,472 179.4 2,950.8 (iii) Stock Futures 4,28,504 3,43,493 24.7 6,945 3,854 80.2 5,055 4,648.2 8.7 (iv) Options on Stock Put 91,427 57,156 60.0 343 239 43.5 2.1 21.4 -90.2 Call 1.55.403 1,05,949 46.7 348 390 -10.7 2.4 27.7 -91.5

Total 31,80,393 31,90,887 -0.3 14,39,535 6,73,225 113.8 32,686 15,484 111.1B. No. of Contracts (i) Index Futures 87,04,083 85,01,380 2.4 3,40,324 2,26,988 49.9 5,35,551 3,66,727 46.0 (ii) Options on Index Put 4,05,80,664 4,06,28,761 -0.l 2,13,83,957 67,45,387 217.0 2,15,405 6,347 3.293.8 Call 3,53,70,256 4,30,50,058 -17.8 2,62,04,719 1,59,69,830 64.1 1,82,040 6,323 2,779.0 (iii) Stock Futures 1,52,23,466 1,27,19,906 19.7 2,78,544 1,49,512 86.3 2,08,409 1,83,859 13.4 (iv) Options on Stock - Put 31,90,614 21,17,135 50.7 14,637 11,867 23.3 67 746 -91.0 Call 50,86,783 36,95,971 37.6 12,432 15,199 -18.2 86 954 -91.0

Total 10,81,55,866 11,07,13,211 -2.3 4,82,34,613 2,31,18,783 108.6 11,41,558 5,64,956 102.1

C. Open Interest in terms of Value (` crore) (i) Index Futures 12,615 10,539 19.7 12,615 450 2,703.1 47 4.5 943.1 (ii) Options on Index Put 34,007 33,494 1.5 34,007 357 9,437.3 117 0.7 15,695.1 Call 33,682 29,101 15.7 33,682 339 9,837.9 223 0.5 42,317.5 (iii) Stock Futures 27,490 25,216 9.0 27,490 92 29,886.5 14 10.9 28.5 (iv) Options on Stock Put 2,534 1,737 45.9 2,534 0 NA 0.0 0.0 - Call 4,125 2,703 52.6 4,125 4 NA 0.0 0.0 -

Total 1,14,454 1,02,791 11.3 1,14,454 1,242 9,118.5 402 16.7 2,312.4D. Open Interest in terms of No of Contracts (i) Index Futures 4,49,205 3,60,141 24.7 4,49,205 15,478 2,802.2 1,624 157.0 934.4 (ii) Options on Index Put 11,95,331 11,46,744 4.2 11,95,331 12,281 9,633.2 3,940 26.0 15,053.8 Call 11,84,720 9,96,366 18.9 11,84,720 11,673 10,049.2 7,387 18.0 40,938.9 (iii) Stock Futures 10,68,265 9,27,187 15.2 10,68,265 3,743 28,440.3 549 382.0 43.7 (iv) Options on Stock Put 93,791 65,685 42.8 93,791 0 NA 1 0 - Call 1,63,135 1,00,854 61.8 1,63,135 135 NA 1 0 -

Total 41,54,447 35,96,977 15.5 41,54,447 43,310 9,492.4 13,502 583 2,216.0Source: NSE, BSE & MCX-SX

* Trading in SX40 futures and options commenced in the F&O Segment of MCX-SX from May 15, 2013

- indicate not applicable

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During July 2013, the monthly turnover of currency derivatives at NSE decreased by 47.2 percent to ` 4,09,739 crore as compared to ` 7,75,313 crore in June 2013. Further, at MCX-SX, the monthly turnover of currency derivatives decreased by 35.6 percent to ` 3,10,899 crore in July 2013 from

` 4,82,880 crore in June 2013. At the end of July 2013, the turnover of currency derivatives at USE decreased by 3.1 percent at ` 21,896 crore in July 2013 as compared to ` 22,587 crore in June 2013. (Details in Annex - Table 44, 45 and 46).

B. Currency Derivatives at NSE, MCX-SX and USE

Figure 6: Trends of Currency Derivatives at NSE, MCX-SX and USE (`crore)

V. Trading in Corporate Debt Market

During July 2013, there were 1,057 trades with a value of ` 11,731 crore reported on BSE as compared to 708 trades with a value of ` 5,251 crore in June 2013. At NSE, 2,264 trades were reported in July 2013 with a trading value of ` 36,061 crore as

compared to 1,934 trades with a value of ` 30,309 crore in June 2013. Further, 4,049 trades with a value of ̀ 62,891 crore were reported to FIMMDA in July 2013 as against 3,199 trades with a value of ̀ 51,666 crore in June 2013. (Details in Annex- Table 43).

Figure 7: Trends of Reported Turnover of Corporate Bonds (`crore)

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VI. Trends in Institutional Investment

A. Trends in Investment by Mutual Funds

Mutual Funds made net sold of ` 25,909 crore in the secondary market in July 2013 compared to net investment of ` 64,633 crore in June 2013. Mutual funds sold ` 2,169 crore in equity compared to ` 269 crore sold in June 2013. Mutual Funds sold ` 23,740 crore in debt market in July 2013 as against of ` 64,602 crore invested in June 2013.

As on July 31, 2013 there were a total of 1,172 schemes under mutual funds of which Income/Debt oriented schemes were 739 (63.05 percent), Growth/equity oriented scheme were 345 (29.44 percent), Exchange

Traded Funds were 37 schemes (3.16 percent), Balanced schemes were 30 (2.56 percent) and Fund of Funds investing Overseas schemes were 21 (1.79 percent). The number of schemes at the end of 2012-13 was 1,294 of which Income/Debt oriented schemes were 857 (66.2 percent), Growth/equity oriented scheme were 347 (26.8 percent), Exchange Traded Funds were 37 schemes (2.9 percent), Balanced schemes were 32 (2.5 percent) and Fund of Funds investing Overseas schemes were 21 (1.6 percent) (Details in Annex- Table 61 & Table 62).

Figure 8: Trends in Mutual Funds Investment (`crore)

There was a net outflow of ` 18,124 crore in July 2013 by Foreign Institutional Investors (FIIs) compared to outflow of ` 44,162 crore in June 2013. FIIs sold ` 6,086 crore in equity in July 2013

as compared to ` 11,027crore sold in June 2013. In addition, FIIs sold ` 12,038 crore in debt market in July 2013 as compared to ` 33,135 crore sold in June 2013.

B. Trends in Investment by Foreign Institutional Investors

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Figure 9: Trends in FIIs Investment (`crore)

Total assets under management (AUM) of Portfolio Management Services (PMS) industry have increased by 0.8 percent from ` 6,22,821 crore in June 2013 to ` 6,27,996 crore in July 2013. As on July 31, 2013, AUM of discretionary PMS constitute 82.9 percent of the total AUM of PMS followed by advisory PMS (12.3 percent) and non

discretionary PMS (4.7 percent).In terms of number of clients, discretionary services category ranks first with total of 48,325 clients, out of 64,511clients in PMS industry, followed by advisory services with 11,010 clients and non-discretionary category with 5,176 clients (Details in

Annex- Table 63).

VIII. Trends in Substantial Acquisition of Shares and Takeovers

In July 2013, seven public offers with total value of ` 1,908 crore were made to public against eight public offers with total value of ` 29,242 crore last

month. All the seven public offers made during the month were for Consolidation of Holdings. (Details

in Annex- Table 64).

��

VII. Trends in Portfolio Management Schemes

The asset under custody of FIIs at the end of July 2013 stands at ` 12,93,687 crore, out of which the value of participatory notes including PNs on

derivatives is ` 1,48,118 crore, constituting 11.5 percent of the total asset under custody of FIIs. (Details in Annex- Table 55 & Table 57)

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Monthly Review of Global Financial Markets – August 20131

1. Introduction:

1.1. Economic conditions in major world economies have shown some sign of improvements in July 2013. Outlook for growth is firming up in advanced economies. With accommodative monetary policy stance, Central banks in U.S., U.K. and Japan continued their asset purchase programme to support economic growth and improve labour market conditions. Equities market in most of the developed countries edged up, while emerging markets exhibited mixed trends during the month.

2. The World Economy:

2.1. The global economy is gradually heading towards the growth path. GDP growth in U.S., U.K, in second quarter of 2013 have picked up. After witnessing a negative growth during the first quarter, economies in Eurozone viz., Germany, France are showing the sign of improvement with positive GDP growth data for the quarter ending June 2013. Manufacturing output is expanding consistently with the global economic growth; however, Asia remains the drag in global manufacturing growth. Further, growth prospects in emerging nation have softened due to weak domestic demand and tight financial conditions in some countries.

1 The review is prepared in the Regulatory Research Division, Department of Economic and Policy Analysis of SEBI. Views expressed in the review are not of SEBI.

Snapshots

The Untied States:

• Quarterly real GDP growth in Q2 of 2013 increased at an annual rate of 1.7%.

• Annual CPI infl ation slightly increased to 2.0% in July 2013 from 1.8% in June 2013

• In July 2013, the unemployment rate edged down to 7.4% from 7.6% in June 2013.

The United Kingdom

• According to preliminary estimate by ONS, growth rate of UK real GDP was 0.6% Q-o-Q during Q2 of 2013.

• Annual CPI infl ation eased down to 2.8% in July 2013 from 2.9% in June 2013.

• The unemployment rate was unchanged at 7.8% for April to June 2013.

Japan:

• The Cabinet Offi ce of Japan in its quarterly release estimated the GDP growth rate at 2.6% in annualised terms for Q2 of 2013.

• CPI infl ation increased to 0.2% in June 2013 from -0.3% in May 2013

• Unemployment rate reduced to 3.9% in June 2013 from 4.1% in May 2013.

The Eurozone:

• According to the fl ash estimate by the Eurostat, real GDP grew by 0.3% (Q-o-Q) in both Euro Area (EA17) and EU27 during Q2 of 2013.

• Annual infl ation in Euro Area and EU27 remained stable at 1.6% and 1.7% respectively in July 2013.

• During June 2013, unemployment rate in the EA17 and EU27 were 12.1% and 10.9%, respectively.

BRIC Nations:

• Real GDP of Brazil grew by 0.6% Q-o-Q and by 1.9% Y-o-Y in Q1 of 2013. Unemployment rate was increased to 6.0% in June 2013. Annual CPI infl ation eased down to 6.3% in July 2013.

• Russia’s real GDP fell to 1.6% Y-o-Y during Q1 of 2013. Annual CPI infl ation rose to 7.1% in July 2013. Unemployment rate went up to 5.4% in June 2013.

• India’s GDP grew by 5.0% in 2012-13. IIP went down by 2.2 per cent (Y-o-Y) in June 2013. The headline WPI infl ation rose to 5.79% (Y-o-Y) in July 2013.

• During Q2 of 2013, real GDP of China increased by 7.5% (Y-o-Y). In July 2013, the annual CPI infl ation remained unchanged at 2.7%.

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2.2. According to International Monetary Fund (IMF) estimates, global economy is expected to grow at 3.1 per cent in 2013 and 3.8 per cent in 2014. The IMF, in its World Economic Outlook Update published in July has revised its projection (downwards by 0.2 per cent) for global growth for 2013 and 2014 from its forecast in the April 2013 World Economic Outlook (WEO). This is largely due to weaker domestic demand and slower growth

in several key emerging market economies, as well as a more protracted recession in the Euro Area. The advanced economies are projected to grow at a subdued pace of 1.2 per cent in 2013 and 2.1 per cent in 2014. Growth rate projections for emerging markets and developing economies for 2013 and 2014 have also been revised down to 5 per cent in and 5.4 per cent respectively from the April 2013 WEO (Table 1).

Table 1: Overview of the World Economic Outlook Projections

Nations / Regions

Year over YearQ4 over Q4

ProjectionsDifference from April 2013 WEO

Published Estimates Projections

2011 2012 2013 2014 2013 2014 2012 2013 2014World Output1 3.9 3.1 3.1 3.8 -0.2 -0.2 2.6 3.5 3.7Advanced Economies 1.7 1.2 1.2 2.1 -0.1 -0.2 0.7 1.8 2.2United States 1.8 2.2 1.7 2.7 -0.2 -0.2 1.7 2.0 3.1Euro Area 1.5 -0.6 -0.6 0.9 -0.2 -0.1 -1.0 0.3 1.1 Germany 3.1 0.9 0.3 1.3 -0.3 -0.1 0.3 1.1 1.2 France 2.0 0.0 -0.2 0.8 -0.1 0.0 -0.3 0.5 0.6 Italy 0.4 -2.4 -1.8 0.7 -0.3 0.2 -2.8 -0.9 1.4 Spain 0.4 -1.4 -1.6 0.0 0.0 -0.7 -1.9 -0.7 0.0Japan -0.6 1.9 2.0 1.2 0.5 -0.3 0.4 3.5 0.2United Kingdom 1.0 0.3 0.9 1.5 0.3 0.0 0.2 1.1 1.7Canada 2.5 1.7 1.7 2.2 0.2 -0.2 1.0 2.0 2.4Other Advanced Economies2 3.3 1.8 2.3 3.3 -0.1 -0.1 2.0 3.0 3.2Emerging Market and Developing Economies3 6.2 4.9 5.0 5.4 -0.3 -0.3 5.0 5.6 5.6

Developing Asia 7.8 6.5 6.9 7.0 -0.3 -0.3 6.9 7.0 7.0ASEAN-54 4.5 6.1 5.6 5.7 -0.3 0.2 9.1 5.5 5.1BRICS Nations Brazil 2.7 0.9 2.5 3.2 -0.5 -0.8 1.4 2.6 3.5 Russia 4.3 3.4 2.5 3.3 -0.9 -0.5 2.0 3.6 2.5 India 6.3 3.2 5.6 6.3 -0.2 -0.1 3.0 6.0 6.6 China 9.3 7.8 7.8 7.7 -0.3 -0.6 7.9 7.9 7.6 South Africa 3.5 2.5 2.0 2.9 -0.8 -0.4 2.3 2.3 3.0

Note: The aggregated quarterly data are seasonally adjusted.1 The quarterly estimates and projections account for 90 percent of the world purchasing-power-parity weights.2 Excludes the G7 (Canada, France, Germany, Italy, Japan, United Kingdom, United States) and euro area countries.3 The quarterly estimates and projections account for approximately 80 percent of the emerging market and developing economies.4 Indonesia, Malaysia, Philippines, Thailand, Vietnam.Source: IMF

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2.3. The IMF observed that stronger global growth may require additional policy action. Major advanced economies need credible plans for addressing sustainability of medium-term debt and reforms restoring balance sheets and credit channels. On the other hand, a number

of emerging market and developing economies face a dual challenge of supporting weak activity and those containing capital outflows. Macroprudential and structural reforms can help make this trade off less stark.

Table 2: Major Macroeconomic Indicators

Country / Region

Quarterly Growth Rate of Real GDP

Annual CPI Inflation

Rate

Unemployment Rate

Benchmark Interest

RateQ-o-Q Y-o-Y

Dev

elop

ed

Eco

nom

ies

OECD 0.28 (Q1) 0.59 (Q1) 1.80 (June) 8.00 (May) NAUSA 0.42 (Q2) 1.43 (Q2) 2.00 (July) 7.40 (July) 0.25UK 0.60 (Q2) 1.40 (Q2) 2.80 (July) 7.80 (Apr-June) 0.50Japan 0.63 (Q2) 0.91 (Q2) 0.20 (June) 3.90 (June) 0.10Euro Area (EA17) 0.30 (Q2) -0.70 (Q2) 1.60 (July) 12.10 (June) 0.50European Union (EU27) 0.30 (Q2) -0.20 (Q2) 1.70 (July) 10.90 (June) NA

BR

IC

Brazil 0.55 (Q1) 1.84 (Q1) 6.27 (July) 6.00 (June) 8.50Russia -0.07 (Q1) 1.60 (Q1) 7.10 (July) 5.40 (June) 8.25India* NA 4.78 (Q1) 5.79 (July) NA 7.25China 1.70 (Q2) 7.50 (Q2) 2.70 (July) NA 6.00

Oth

er

EM

Es Korea 1.09 (Q2) 2.27 (Q2) 1.40 (July) 3.20 (May) 2.50

Indonesia 1.43 (Q1) 6.01 (Q1) 8.61 (July) NA 6.50Turkey 1.59 (Q1) 3.45 (Q1) 8.88 (July) 8.40 (Mar) 4.50

Note: Months mentioned (in bracket) are for the Year-2013. (Q1) & (Q2) represent first & second quarter of 2013 respectively. * Wholesale Price Index (WPI) inflation data is considered for measuring inflation in India.

N.A. – Not AvailableSource: Official Database & Central Banks of respective countries, OECD

Organisation for Economic Co-operation and Development (OECD):

2.4. As per revised data released by OECD, real GDP in the OECD area grew by 0.6 per cent Year-on Year (Y-o-Y) in the first quarter of 2013, compared with a growth of 0.9 per cent in Q4 of 2012. Private consumption was the main contributor to overall GDP growth, while net exports and stock building also contributed to the growth. On Quarter-on-

Quarter (Q-o-Q) basis, the GDP grew by 0.3 per cent in OECD area during Q1 of 2013. (Table 2).

2.5. Consumer price Inflation in OECD area accelerated to 1.8 per cent in a year to June 2013 from 1.5 per cent in previous month. Higher energy and food prices kept the inflation index on increasing trend. During the month energy

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prices grew by 3.4 per cent, as compared to 0.5 per cent in May 2013, while food inflation registered a growth of 2.2 per cent in June 2013. Excluding food and energy segments the annual inflation in OECD area stood at 1.4 per cent during the month. The OECD unemployment rate remained unchanged for the consecutive three months and stood at 8.0

per cent during May 2013.

2.6. Composite leading indicators (CLIs), designed to anticipate turning points in economic activity relative to trend, indicated diverging growth patterns across the major OECD economies. The CLIs for the United States, Japan and the United Kingdom indicated firming economic growth.

Chart 1: Quarter-on-Quarter seasonally adjusted real GDP growth rate of developed nations and regions (per cent)

Source: OECD

Chart 2: Year-on-Year Consumer Price Inflation* (per cent)

Note: * Wholesale Price Index (WPI) inflation is considered for measuring inflation in IndiaSource: OECD, Office of Economic Advisor to Government of India

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The United States:

2.7. According to the “advance” estimates release by the Bureau of Economic Analysis (BEA) real gross domestic product of the US increased at an annual rate of 1.7 per cent (i.e. 0.42 per cent Q-o-Q) during Q2 of 2013, in comparison to annual growth of 1.1 per cent (revised) in the first quarter of 2013. Positive contributions from the sectors, such as personal consumption expenditures (PCE), exports, nonresidential fixed investment, private inventory investment, and residential investment led to the growth in GDP. During July 2013, economic activity in the manufacturing sector picked up and business conditions improved. Markit U.S. Manufacturing PMI grew to 53.7 in July 2013 signalling strongest manufacturing growth in past four months.

2.8. As per data released by the Bureau of Labor Statistics, the annual consumer price inflation increased further to 2.0 per cent in July 2013 from 1.8 per cent in previous month. The core inflation, i.e. prices of all items less food and energy increased marginally to 1.7 per cent from 1.6 per cent recorded in June 2013. In July 2013, the unemployment rate edged down to 7.4 per cent from 7.6 per cent in previous month. During the month, employment situation improved in retail trade, food services, financial activities, and wholesale trade.

2.9. The Federal Open Market Committee (FOMC) during its meeting in July 2013, decided

to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month, to support stronger economic recovery. The Committee intended to continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market improves substantially in a context of price stability.

2.10. Observations: US economy grew at modest rate during the first half of this year. Business activities have picked up of late and the labour market conditions have shown improvements in recent month. Housing sector is strengthening with positive trend in housing sales but the sharp increase in mortgage rates and an appreciation in home price may affect the house affordability.

The United Kingdom:

2.11. The Preliminary estimate released by the Office for National Statistics shows the GDP increased by 0.6 per cent (Q-o-Q) in second quarter of 2013. Compared to the second quarter of 2012, the economy expanded by 1.4 per cent during the second quarter of 2013. The GDP growth was largely supported by strong growth in the services sector (by 0.6 per cent) which contributed 0.48 percentage point to the 0.6 per cent increase in GDP.

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During July 2013, UK construction sector registered strong growth in construction activity. Markit UK Construction PMI grew to 57.0 in July 2013 from 51.0 in previous month, indicating sharp rebound in business activity in construction sector.

2.12. Annual CPI inflation marginally eased down to 2.8 per cent in July 2013 from 2.9 per cent in previous month. The fall in the inflation rate was mainly contributed by decrease in air fares, recreation & culture, and clothing & footwear sectors.

2.13. During August 2013, Bank of England’s Monetary Policy Committee kept the Bank rate unchanged at 0.5 per cent and expressed its intention to keep the rate unchanged until the the Labour Force Survey (LFS) headline measure of unemployment rate had fallen to a threshold of 7 per cent. For period April to June 2013, the unemployment rate was 7.8 per cent of the economically active population, unchanged from January to March 2013.

2.14. Observations: The economy of UK is picking up the growth. Manufacturing output is building up the momentum led by growth in domestic as well as overseas demand. Consumer goods sector, backed by increased domestic consumption is leading the recovery and growth in manufacturing sector. Looking ahead it is expected that the economic recovery would continue fuelled by strong domestic demand and improving international trade condition.

Japan:

2.15. The Cabinet Office of Japan in its quarterly release has estimated the real GDP growth during the second quarter of 2013 at 2.6 per cent in annualised terms. The Q-o-Q GDP fell to 0.6 per cent in Q2 2013 from 0.9 per cent in previous quarter. During Q2 2013, Private and government consumption grew by 1.8 per cent and 1.9 per cent respectively over the previous quarter. Seasonally adjusted Markit Japan Manufacturing PMI fell down to 50.7 in July 2013 from 52.3 in June 2013, reflecting slower pace of manufacturing activity in the month. Witnessing similar trend rate of expansion in service sector also slow down in July 2013.

2.16. According to the estimates by Statistics Bureau and the Director-General for Policy Planning of Japan, the annual CPI inflation increased to 0.2 per cent in June 2013 compared to -0.3 per cent in May 2013. Increase in prices of Fuel, light & water charges (5.7 per cent) and transport & communication sector (1.8 per cent), led to an increase in overall inflation Index. At the Monetary Policy Meeting held on July 11, 2013, Bank of Japan decided conduct money market operations so that the monetary base increases at an annual pace of about 60-70 trillion yen. The unemployment rate in Japan reduced to 3.9 per cent in June 2013 from 4.1 per cent in May 2013.

2.17. Observations: The Japanese economy continued its growth trajectory albeit at a slower rate, with growth

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in domestic demand and pick up in external sector. Public investment in Japan is on increasing trend, supported by effect of various economic measures taken by the government. Net Exports have picked up moderately while weakening of Yen has further added to the advantage of exporters. Manufacturing sector is exhibiting the potential to expand on the back of new orders and increasing demand.

The Eurozone:

2.18. According to the flash estimate by the Eurostat, the statistical office of the European Union, the real GDP grew by 0.3 per cent (Q-o-Q) in both Euro Area (EA17) and EU27 during the second quarter of 2013. During the first quarter of 2013, the real GDP fell by 0.3 per cent in the Euro Area (EA17) and by 0.1 per cent in the EU27 compared with previous quarter. Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.7% in the euro area and by 0.2% in the EU27 in the second quarter of 2013. Among the core economies, France recorded a growth of 0.3 per cent in Q2 2013 after contraction in previous two consecutive quarters. Germany, the strongest and biggest Eurozone economy, recorded a growth of 0.5 per cent in Q2 2013 after witnessing a mild contraction in Q1 2013. During June 2013, Markit Eurozone Manufacturing PMI rose to two year high of 50.3 compared to 48.8 in June, (PMI above 50 mark indicates an expansion in business

activity). Manufacturing output rose at the fastest pace since June 2011. Among Eurozone economies, growth was led by Germany, where the rate of increase in manufacturing output and service sector hit 17- and 5- month highs respectively.

2.19. As regards price situation, annual inflation in the Euro area and European Union remained stable at 1.6 per cent and 1.7 per cent respectively in July 2013. The inflation rate in Germany also remained unchanged at 1.9 per cent, while in France increased to 1.2 per cent in July 2013. During June 2013, unemployment rate in the Euro Area was unchanged from previous month at 12.1 per cent whereas in EU27 it declined marginally to 10.9 per cent from 11.0 per cent in previous month. The highest unemployment rate was recorded in Greece (26.9 per cent in April 2013) and Spain (26.3 per cent in June 2013). The European Central Bank (ECB) in its meeting on August 01, 2013, kept the key ECB interest rates unchanged

2.20. Observations: Following a six quarter economic contraction, the Eurozone economy has showed some sign of recovery in second quarter of the year. Industrial production has picked up the pace of late, with increase in production of durable consumer goods and capital goods. Expansion in manufacturing sector backed by growth in new business has raised hope for the recovery in Eurozone economy. However, high level of unemployment remains the cause of social and political concern.

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BRIC Nations

Brazil:

2.21. Seasonally adjusted Real GDP of Brazil grew by 0.6 per cent (Q-o-Q) in the first quarter of 2013, as per the estimates by Instituto Brasileiro de Geografia e Estatística. In comparison with the first quarter of 2012, the GDP grew by 1.8 per cent. During June 2013, industrial activities picked up in Brazil as industrial output registered a growth of 1.9 per cent over the previous month, in comparison to a decline of 1.8 per cent in May 2013. Compared with same month of previous year (in the series not seasonally adjusted) industrial sector grew by 3.1 per cent. 22 out of 27 sectors surveyed observed increase in production viz., Pharmaceutical sector (8.8 per cent), transportation equipment (8.3 per cent) and motor vehicle (2 per cent).

2.22. The annual inflation rate eased down to 6.27 per cent in July 2013, in comparison to 6.70 per cent in previous month. Decline in prices of food and beverages, transportation and apparel led to the decline on overall inflation index. As regards the unemployment situation, the unemployment rate grew marginally to 6.0 per cent during June 2013 in comparison to 5.8 per cent in May 2013. The unemployed population remained stable in Brazil since the past one year.

Russia:

2.23. GDP growth of Russia slowed down for the consecutive fifth quarter ending March 2013.

According to estimates by the Russian State Statistics Service (Rosstat), growth rate of quarterly real GDP of Russia slowed down to 1.6 per cent (Y-o-Y) during Q1 of 2013 in comparison to a growth of 4.8 per cent during the first quarter of 2012. GDP growth during the Q1 of 2013, was mainly supported by the growth in financial sector (12.3 percent), fishing (8.7 per cent), real estate and business activities (7 per cent).

2.24. As regards price situation, the annual CPI inflation rate increased to 7.1 per cent in July 2013 from 6.9 per cent in June 2013. The Bank of Russia in its monetary policy on July 12, 2013, decided to maintain the refinancing rate at 8.25 per cent and unchanged the interest rates on the liquidity provision and absorption operations. The unemployment rate went up to 5.4 per cent in June 2013 from 5.2 per cent in May 2013.

India:

2.25. As per quarterly estimates of Gross Domestic Product for the fourth quarter of 2012-13, India’s GDP at factor cost at constant (2004-05) prices, grew by 5.0 per cent in 2012-13 over previous year, while GDP growth for Q4 of 2012-13 stood at 4.8 per cent (Y-o-Y). The services sector, propelling the overall growth, grew by 6.3 per cent (Y-o-Y) during Q4 2012-13. Rate of expansion for the industry (2.0 per cent) as well as agriculture and allied activities (1.4 per cent) slowed during the quarter (Table 3).

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2.26. During June 2013, India’s General Index of Industrial production (IIP) posted a consecutive fall for the third month since March 2013 and fell down by 2.2 per cent (Y-o-Y). The Industrial production for Mining and Manufacturing sector fell by 4.1 per cent and 2.2 per cent respectively during June 2013 in comparison to corresponding month in 2012. As regards price situation, India’s Wholesale price Index (WPI) inflation edged up to 5.79 per cent in July 2013 from 4.86 per cent in previous month,

China:

2.27. According to the preliminary estimates by National Bureau of Statistics of China, real Gross Domestic Product of China grew by

7.6 per cent (Y-o-Y) during the first half of 2013. Amid volatile economic situation, the real GDP growth slowed down to 7.5 per cent (Y-o-Y) in the second quarter of 2013, from 7.7 per cent Y-o-Y growth in the Q1 of 2013. During July 2013, productions in manufacturing sector declined due to weak domestic and external demand. The HSBC China manufacturing Purchasing Manager Index fell down to 47.7 in July from 48.2 in June 2013 indicating sharp deterioration in business conditions, while Service Business Activity Index posted 51.3 in July reflecting growth in service sector albeit at a historically slower rate.

2.28. In July 2013, the annual Consumer Price Inflation remained unchanged from previous month and grew by 2.7 per cent (Y-o-Y). Food

Table 3: Quarterly GDP growth in India (Y-o-Y)

Items2011-12 2012-13

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

1 2 3 4 5 6 7 8 91. Agriculture & allied activities 5.4 3.2 4.1 2.0 2.9 1.7 1.8 1.42. Industry 6.5 2.7 0.9 1.0 -0.2 0.5 2.3 2.0 Mining & Quarrying -0.4 -5.3 -2.6 5.2 0.4 1.7 -0.7 -3.1 Manufacturing 7.4 3.1 0.7 0.1 -1.0 0.1 2.5 2.6 Electricity, Gas & Water Supply 6.6 8.4 7.7 3.5 6.2 3.2 4.5 2.83. Services 8.3 8.2 8.1 7.0 7.6 7.1 6.2 6.3 Construction 3.8 6.5 6.9 5.1 7.0 3.1 2.9 4.4 Trade, Hotel, Transport and Communications 9.5 7.0 6.9 5.1 6.1 6.8 6.4 6.2 Finance, Insurance, Real Estate & Business Services 11.6 12.3 11.4 11.3 9.3 8.3 7.8 9.1 Community, Social & Personal Services 3.5 6.5 6.8 6.8 8.9 8.4 5.6 4.0Gross Domestic Product at factor cost 7.5 6.5 6.0 5.1 5.4 5.2 4.7 4.8

Source: CSO

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prices observed a growth of 5.0 per cent while, non-food prices increased by 1.6 per cent during the month.

2.29. In order to fillip the economic growth, China announced several measures during the month under review. These include the reduction in taxes for small business units, simplified approval procedures and reduced administrative costs for exporters. Chinese government also expressed its willingness to encourage private players for participation in China’s railway construction sector.

3. Review of Global Financial Markets:

3.1. Financial market across the world performed well at the end of July 2013 in comparison to previous month. Equities market in developed markets grew on the back of positive economic data. In the euro area, economic data releases were mixed. However, better than expected data such as positive economic growth estimates, strong manufacturing PMI, consumer confidence survey, supported increase in stock prices and reduction in yield of the long term government bonds. By the end of July 2013, fears regarding the Federal Reserve’s exit plans eased as Federal Open Market Committee decided to continue

purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month, until the labor market conditions improves substantially.

Stock Market:

3.2. In July 2013, stock markets across the world recovered from the downfall witnessed in June 2013. Taking cue from the positive economic data from the advance economies such as U.S., U.K., Japan and the Eurozone, equity market rallied in almost all the developed markets and selected emerging markets. Improved employment situation, inflation rate and business activity in U.S. propelled all major U.S. stock indices on growth trajectory. Among emerging markets, stock market in India continued to fall for the second consecutive month as the foreign investor outflow continued in July 2013.

3.3. MSCI World Index, which is a leading indicator for tracking the overall performance of stock markets in developed markets, grew by 5.2 per cent during July 2013; While, MSCI Emerging Market Index posted marginal growth of 0.77 per cent at the end of the month (Chart 3).

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Chart 3: Movement in MSCI World and Emerging Market Index

Source: Bloomberg

Bond Market:

3.4. Long term Treasury bond prices of major developed countries such as Germany, U.K. and Spain increased during July 2013 with U.S. being an exception, which reported the fall in bond prices for the third consecutive month. During July 2013, the yield of 10 year U.S. government bonds grew by 3.64 per cent

and touched 2.576 per cent. On the other hand the bond yield of 10 year Germany bund fell by 3.36 per cent at the end of the month. Witnessing similar trend, the bond yield of 10 year U.K. government bond and 10 year government bonds of Spain registered a fall of 3.48 per cent and 2.37 per cent respectively.

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Currency Market:

3.5. During July 2013, Indian Rupee continued to depreciate against US Dollar for the consecutive third month and fell by 2.16 per cent (as per closing price of the interbank foreign currency trade) at the end of the month. Continued outflow of foreign funds due to deteriorating economic conditions led to the fall of the Rupee. Supported by better than expected economic data from Euro Area,

Euro managed to gain against the US Dollar for the second month and appreciated by 2.0 per cent in July 2013, in comparison to a marginal growth of 0.1 per cent in previous month. In July 2013, Japanese Yen continued to appreciate for the second month and gain 1.0 per cent against USD, while GBP maintained the same level with US dollar at the end of July 2013, as in previous month.

Chart 4: Movement in 10 year bond yield of major countries

Source: Bloomberg

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Chart 5: Movement of major currencies against US Dollar ($)

Source: Bloomberg

Note: Exchange rate represents the closing price of the interbank foreign currency trade.

Trend in Market Indices:

3.6. Major stock indices all over the world exhibited mixed trend during July 2013. Among major stock indices of developed markets covered in the review; almost all reported gain at the end of the month. CAC 40 of France grew by 6.79 per cent during the month, followed by US NASDAQ Composite (6.56 per cent) and FTSE 100 of U.K. (6.53 per cent). On contrary, Nikkei 225 of Japan posted a marginal fall of 0.07 per cent during July 2013.

3.7. As regards the emerging market indices, Hermes of Egypt posted a gain of 12.67 per cent at the end of July 2013 after witnessing a severe downfall (11.9 per cent) in previous month. Karachi 30 of Pakistan grew by 12.06 per cent during the month, followed by Indice Bolsa General of Argentina (11.38 per cent). On the other hand, Stock Market Select of Chile fell by 7.37 per cent in July 2013, followed by Jakatra Composite of Indonesia (4.33 per cent) and ISE National 100 of Turkey (3.82 per cent).

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Chart 6: Trend in Major Developed Market Indices

Source: Bloomberg

Chart 7: Trend in Market Indices in BRIC Nations

Source: Bloomberg

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Market Capitalisation:

3.8. Market capitalisation of major stock exchanges in the world during July 2013 is given in table A6 and is illustrated in Chart 8. The market capitalisation of major stocks listed in developed markets exhibited an uptrend in general while that of developing markets showed mixed trend at the end of July 2013. Among developed markets, the market capitalisation of NYSE Euronext (Europe) grew by 9.24 per cent, followed by NASDAQ OMX Nordic Exchange (8.97 per cent) and

London SE Group (7.27 per cent).

3.9. As regards the major emerging markets, the market capitalisation of Colombia Stock Exchange posted a growth of 6.94 per cent during July 2013, followed by Shenzhen Stock Exchange (6.18 per cent) and Korea Exchange (5.13 per cent). On the other hand, market capitalisation of Indonesia Stock Exchange fell by 6.64 per cent, followed by National Stock Exchange of India (4.61 per cent).

Chart 8: Trend in Market Capitalisation of Major Exchanges (US$ Million)

Source: World Federation of Exchanges

Derivative Market:

3.10. Among the major stock exchanges covered in the review (Table A4 & A5) during July 2013 the monthly turnover of index futures in CME Group was US$ 3,090,360 million, followed by China Financial Futures Exchange (US$ 2,505,860 million) and EUREX (US$ 1,281,170

million). Among the major stock exchanges, in terms of trading in stock futures, National Stock Exchange India recorded the monthly turnover of US$ 70,472 million followed by NYSE Liffe Europe (US$ 21,102 million). The monthly turnover in options on index for EUREX stood

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at US$ 999,396 million, followed by CME group (US$ 766,521 million). As regards options on stocks, BM&FBOVESPA recorded a monthly

turnover of US$ 63,400 million, followed by EUREX (US$ 57,296 million) and National Stock Exchange India (US$ 40,594 million).

4. Annex Tables:

Table A1: Trend in major International Indices

Country IndexAs on

March*, 2012As on

March*, 2013As on

June*, 2013As on

July*, 2013

1 2 3 4 5 6Developed Markets

Australia All Ordinaries 4419.97 4979.87 4775.41 5035.67France CAC 40 3423.81 3731.42 3738.91 3992.69Germany Dax 6946.83 7795.31 7959.22 8275.97Hong Kong HSI Hang Seng 20555.58 22299.63 20803.29 21883.66Japan NIKKEI Nikkei 225 10083.56 12397.91 13677.32 13668.32Singapore STI Straits Times 3010.46 3308.10 3150.44 3221.93UK FTSE 100 5768.45 6411.74 6215.47 6621.06USA DOW JONES Dow Jones Industrial Average 13212.04 14578.54 14909.60 15499.54USA NASDAQ Composite Nasdaq Composite 3091.57 3267.52 3403.25 3626.37

Emerging Markets

India (BSE) Sensex 17404.20 18835.77 19395.81 19345.70India (NSE) S&P CNX Nifty 5295.55 5682.55 5842.20 5742.00Argentina Indice Bolsa General 155480.50 198283.33 175063.58 194992.08Brazil Bovespa 64510.97 56352.09 47457.13 48234.49Chile Stock Market Select 4671.28 4432.14 4029.67 3732.54China Shanghai SE Composite IX 2262.79 2236.62 1979.21 1993.80Colombia IGBC General 15038.26 14135.35 12828.49 13465.27Egypt Hermes 494.87 516.06 486.32 547.95Hungary Budapest Stock Exchange 18635.67 17857.42 19023.96 18552.34Indonesia Jakatra Composite 4121.55 4940.99 4818.90 4610.38Malaysia FTSE Bursa Malaysia KLCI 1596.33 1671.63 1773.54 1772.62Mexico Bolsa 39521.24 44077.09 40623.30 40837.88Pakistan Karachi 30 12114.13 14208.38 16207.96 18162.78Russia Russian Traded 2323.77 2077.16 1798.79 1840.83South Korea Kospi Index 2014.04 2004.89 1863.32 1914.03South Africa FTSE/JSE Africa All Share 33554.21 39860.84 39578.10 41292.84Taiwan Taiwan Taiex 7933.00 7918.61 8062.21 8107.94Thailand Stock Exchange of Thai 1196.77 1561.06 1451.90 1423.14Turkey ISE National 100 62423.04 85898.99 76294.51 73377.45

*Indices are as on last trading day of the monthSource: Bloomberg

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Table A2: Volatility and P/E Ratio of Major International Indices

Country IndexVolatility(per cent)

P/E Ratio

Jun-13 Jul-13 Jun-13 Jul-13

1 2 3 4 5 6Developed Markets

Australia All Ordinaries 1.11 0.92 20.94 22.15France CAC 40 1.39 0.95 15.63 16.93Germany Dax 1.29 1.01 15.13 13.95Hong Kong HSI Hang Seng 1.36 1.15 9.62 10.07Japan NIKKEI Nikkei 225 2.78 1.54 40.22 24.01Singapore STI Straits Times 1.03 0.74 12.88 13.28UK FTSE 100 1.15 0.88 15.96 17.22USA DOW JONES Dow Jones Industrial Average 1.05 0.37 14.49 14.94USA NASDAQ Composite Nasdaq Composite 1.02 0.53 21.75 22.09

Emerging Markets

India (BSE) Sensex 1.24 0.97 17.22 17.17India (NSE) S&P CNX Nifty 1.26 1.03 17.76 17.05Argentina Indice Bolsa General 1.13 1.27 2.28 2.57Brazil Bovespa 1.70 1.64 n.a. n.a.Chile Stock Market Select 1.32 1.02 20.91 18.50China Shanghai SE Composite IX 1.60 1.34 10.65 10.72Colombia IGBC General 1.19 1.00 17.49 18.73Egypt Hermes 1.83 2.15 27.29 34.20Hungary Budapest Stock Exchange 1.13 1.49 12.92 12.60Indonesia Jakatra Composite 2.34 1.48 19.43 18.57Malaysia FTSE Bursa Malaysia KLCI 0.74 0.39 16.94 16.54Mexico Bolsa 1.63 1.04 17.60 18.34Pakistan Karachi 30 1.29 0.94 8.20 9.22Russia Russian Traded 1.63 1.36 4.79 4.88South Korea Kospi Index 1.23 0.92 n.a. n.a.South Africa FTSE/JSE Africa All Share 1.57 1.08 18.65 20.10Taiwan Taiwan Taiex 1.09 0.95 22.63 22.68Thailand Stock Exchange of Thai 2.30 1.64 16.72 16.16Turkey ISE National 100 3.96 1.80 10.25 9.74

Note: PE ratio for Sensex and S&P CNX Nifty have been taken from BSE, NSE respectivelyn.a.: Not AvailableSource: Bloomberg, BSE, NSE

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Table A3: Investment Flows - New Capital raised by Shares and Bonds in the Major Exchanges

(US$ million)

Stock ExchangeJune-13 July-13

Equities Bonds Total Equities Bonds Total

1 2 3 4 5 6 7

BM&FBOVESPA (Brazil) 506.65 18.41 525.06 808.82 641.62 1,450.44

Deutsche Borse (Germany) 2,290.45 38,609.75 40,900.19 4,099.80 44,987.39 49,087.19

Egyptian Exchange 0.00 678.24 678.24 0.00 1,741.88 1,741.88

Hong Kong Exchanges 1,938.32 4,881.95 6,820.27 1,860.06 317.49 2,177.55

Korea Exchange 0.00 44,920.35 44,920.35 677.13 38,684.02 39,361.15

London SE Group 3,885.35 56,537.11 60,422.46 3,962.29 188,527.42 192,489.71

NASDAQ OMX Nordic Exchange 0.00 1,426.75 1,426.75 0.00 6,236.62 6,236.62

Shenzhen SE 719.81 67.62 787.42 771.61 2,422.95 3,194.56

Singapore Exchange 301.24 5,448.24 5,749.48 1,277.33 8,547.10 9,824.43

Taiwan SE Corp. 230.71 0.00 230.71 691.24 2,000.90 2,692.14

Tel Aviv SE (Israel) 394.74 2,230.80 2,625.54 55.57 2,180.28 2,235.85

Tokyo SE 2,705.96 14,170.23 16,876.19 NA NA NA

Wiener Borse (Austria) 0.00 4,876.73 4,876.73 877.16 5,186.96 6,064.12N.A.: Not AvailableSource: World Federation of Exchanges

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Table A4: Monthly Turnover in Derivatives (Stock options and Stock futures) in Major Stock Exchanges

(US$ million)

Exchange

JULY 2013

Stock options Stock futures

Number ofcontracts traded

Notionalturnover

Number ofcontracts traded

Notionalturnover

Americas

BM&FBOVESPA 69,565,425 63,400 NA NABourse de Montreal 2,055,615 6,998 NA NABuenos Aires SE 3,167,493 NA NA NAColombia SE NA NA 5,994 28International Securities Exchange 48,662,395 NA NA NAMexDer 34,100 4 2,300 0NASDAQ OMX (US) 50,726,437 NA NA NANYSE Euronext (US) 46,240,306 7,797 NA NA

Asia - Pacific

ASX Derivatives Trading 9,277,185 19,657 365,904 933Bombay SE 27,069 114 278,544 1,142Hong Kong Exchanges 4,264,010 11,673 25,642 88Korea Exchange 0 0 8,858,029 4,425National Stock Exchange India 8,277,397 40,594 15,223,466 70,472Osaka SE 390 NA NA NAShanghai Futures Exchange NA NA NA NATAIFEX 5,907 13 736,698 2,768Thailand Futures Exchange NA NA 502,471 NATokyo SE Group 46,925 NA NA NA

Europe - Africa - Middle East

Athens Derivatives Exchange 451 0 287,377 92BME Spanish Exchanges 2,030,088 2,115 755,396 537Budapest SE 0 0 59,014 236EUREX 14,843,588 57,296 8,107,209 20,059IMKB 47 0 39 0Johannesburg SE 726,184 25 695,283 721MICEX / RTS 804,470 203 27,214,824 8,844NYSE.Liffe Europe 7,493,957 25,953 9,790,457 21,102OMX Nordic Exchange 2,099,569 3,682 35,249 27Oslo Børs 221,512 103 102,187 48Tel Aviv SE 91,977 351 NA NAWiener Börse 5,129 29 8 0

N.A.: Not AvailableSource: World Federation of Exchanges

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Table A5: Monthly Turnover in Derivatives (Index options and Index futures) in Major Stock Exchanges

(US$ million)

Exchange

JULY 2013Stock index options Stock index futures

Number of contracts traded

Notionalturnover

Number of contracts traded

Notionalturnover

AmericasBM&FBOVESPA 109,109 21,988 1,908,390 39,187Bourse de Montreal 40,687 285 206,949 27,830CME Group 6,773,227 766,521 37,858,292 3,090,360Colombia SE NA NA - -ICE Futures US 4,795 493 1,956,415 201,137International Securities Exchange 119,741 NA NA NAMexDer 1,459 44 34,498 1,094NASDAQ OMX (US) 95,304 NA NA NANYSE Euronext (US) 592,343 NA NA NA

Asia - PacificASX Derivatives Trading 521,122 22,828 34,786 324ASX SFE Derivatives Trading 28,160 3,093 568,469 62,358Bombay SE 47,588,676 233,838 340,324 1,652Bursa Malaysia Derivatives 173 0 198,782 5,245China Financial Futures Exchange NA NA 23,211,627 2,505,860Hong Kong Exchanges 1,621,390 150,414 4,883,784 404,047Korea Exchange 58,154,187 22,819 5,170,720 566,381National Stock Exchange India 75,950,920 370,268 8,704,083 41,714Osaka SE 4,289,750 8,654 19,884,762 554,365Shanghai Futures Exchange NA NA NA NASingapore Exchange 860,606 NA 7,865,447 NATAIFEX 10,891,346 146,862 4,051,666 156,281Thailand Futures Exchange 4,923 NA 509,681 NATokyo SE Group 64,712 NA 1,557,483 170,063

Europe - Africa - Middle EastAthens Derivatives Exchange 12,482 25 201,713 382BME Spanish Exchanges 346,211 3,877 620,009 52,963Budapest SE 0 - 51,015 43EUREX 22,573,524 999,396 22,229,275 1,281,170IMKB 13 2 NA NAJohannesburg SE 259,813 287 1,037,984 31,817MICEX / RTS 3,521,924 9,168 22,168,629 58,411NYSE.Liffe Europe 3,334,868 267,987 5,895,356 439,361OMX Nordic Exchange 1,344,147 11,131 2,386,722 43,801Oslo Børs 76,053 35 297,783 139Tel Aviv SE 3,384,342 NA 5,068 NAWiener Börse 318 48 3,704 211


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Table A6: Market Capitalisation of Major Stock Exchanges(US$ million)

Stock Exchange Mar-13 Apr-13 May-13 Jun-13 Jul-131 2 3 4 5 6

Developed MarketAustralian SE 1,481,011 1,513,302 1,327,812 1,233,122 1,275,643Deutsche Börse 1,487,491 1,566,445 1,616,973 1,517,409 1,624,880Hong Kong Exchange 2,828,042 2,883,084 2,873,421 2,669,595 2,773,475London SE Group 3,713,488 3,821,857 3,828,468 3,626,653 3,890,442NASDAQ OMX Nordic Exchange 1,076,662 1,084,659 1,077,025 1,017,485 1,108,752NYSE Euronext (Europe) 2,902,848 3,016,195 3,036,921 2,908,480 3,177,201NYSE Euronext (US) 15,223,314 15,571,596 15,869,517 15,632,588 16,509,501Singapore Exchange 800,330 810,847 788,915 752,027 759,344Tokyo SE Group 3,886,962 4,223,295 3,975,434 4,026,066 4,218,382

Emerging MarketBombay SE 1,175,324 1,233,556 1,182,391 1,077,849 1,030,031National Stock Exchange India 1,147,936 1,204,710 1,153,975 1,051,484 1,003,006BM&FBOVESPA 1,215,264 1,242,457 1,151,987 1,018,640 1,007,729Bursa Malaysia 462,535 480,945 503,937 490,826 482,192Colombia SE 242,717 226,655 214,628 207,083 221,456Indonesia SE 495,270 503,659 505,408 477,542 445,854Johannesburg SE 865,863 864,156 833,095 792,775 825,869Korea Exchange 1,154,881 1,146,725 1,145,508 1,051,384 1,105,271Mexican Exchange 558,398 556,190 516,874 500,374 508,174Saudi Stock Market - Tadawul 387,302 385,225 398,116 399,209 417,027Shanghai SE 2,531,447 2,487,793 2,645,981 2,277,348 2,302,077Shenzhen SE 1,228,993 1,220,916 1,392,730 1,190,016 1,263,519Taiwan SE Corp. 740,026 767,434 772,703 754,338 757,937The Stock Exchange of Thailand 458,182 469,837 448,226 408,491 399,257


Sources:1. OECD database2. Bureau of Economic Analysis (US)3. Bureau of Labor Statistics (US)4. The Conference Board (US)5. The Federal Reserve System (US) 6. Institute for Supply Management (US)7. Office for National Statistics (UK)8. Bank of England (UK)9. The Cabinet Office (Japan)10. Statistics Bureau, Director-General for Policy Planning

(Statistical Standards) (Japan)11. Bank of Japan12. Eurostat (EA17 and EU27)13. European Central Bank (EA17)14. Instituto Brasileiro de Geografia e Estatística

(Brazilian Institute of Geography and Statistics)

15. Banco Central do Brasil (Central Bank of Brazil)16. Federal State Statistics Service (Russian Federation)17. The Central Bank of the Russian Federation18. The Central Statistical Office (India)19. Office of the Economic Adviser to the Government of India20. The Reserve Bank of India21. National Bureau of Statistics of China 22. Peoples Bank of China23. Markit Financial Information Services24. World Federation of Exchanges25. Bloomberg26. The Bombay Stock Exchange 27. The National Stock Exchange28. The Bank of Korea29. Bank Indonesia30. Central Bank of The Republic of Turkey

919


A. GENERAL

1. Circular for Operational, Prudential

and Reporting Norms for Alternative

Investment Funds (AIFs)

a. SEBI has issued a circular No. CIR/IMD/DF/10/2013 dated July 29, 2013 for Operational, Prudential and Reporting Norms for Alternative Investment Funds (AIFs).

b. In accordance with the said circular, all AIFs shall be required to comply reporting norms to SEBI on a quarterly basis (for Category I, II AIFs and for those Category III AIFs which do not employ leverage) or on a monthly basis (for Category III AIFs which employ leverage). The reporting formats and the method of reporting is specified in the said circular.

c. Category III AIFs shall have to additionally comply with norms pertaining to risk management, compliance, redemption and leverage as specified in the circular. The leverage for a Category III AIF shall not exceed 2 times i.e. the gross exposure after offsetting for hedging and portfolio rebalancing transactions shall not exceed 2 times of the NAV of

PRESS RELEASES

the fund. The method of calculation of leverage and conditions pertaining to breach of limit are provided in detail in the circular.

d. The circular and the reporting formats may be found at SEBI website: www.sebi.gov.in under ‘Info for’à ‘Alternative Investment Funds’.

Ref: PR No. 68/2013 dated July 29, 2013

2. Circular regarding Utilisation period for

FII investments in Government Debt

Limit

a. SEBI has issued a circular CIR/IMD/FIIC/11/2013 dated July 31, 2013 regarding the utilisation period for Government Debt limits.

b. In accordance with the said circular, FIIs/QFIs shall be permitted to utilise the debt limits allocated to them in each monthly auction till the 17th day of the succeeding month. Any unutilised limit as on the 18th of each month would get auctioned on the 20th of each month, in terms of SEBI circular CIR/IMD/FIIC/8/2013 dated June 12, 2013


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B. ORDERS

1. Orders in the matter of trading by

connected clients

SEBI, vide orders dated July 5, 2013 passed the following directions in the matter of trading by connected clients in the scrips of M/s. Temptation Foods Limited, M/s. Bang Overseas Limited, M/s. Confidence Petroleum India Limited, M/s. Cals Refineries Limited and M/s. Shree Precoated Steels Limited (now known as M/s. Ajmera Realty & Infra India Ltd.):-

(a) suspended the certification of registration of M/s. Krishvi Securities P. Ltd. member of BSE for a period of 15 days.

(b) suspended the certification of registration of Mr. Deepak C. Dalal (Proprietor of M/s Chandravadan J. Dalal)member of BSE for a period of 15 days.

The orders shall come into force immediately on expiry of twenty one days from the date of the order.


2. Grant of exemption to the acquirers

Grandhi Varalakshmi Mallikarjuna

Rao Trust and others for the proposed

indirect acquisition of shares of M/s.

GMR Infrastructure Limited (Target

Company).

SEBI, passed an order dated July 05, 2013, granting exemption to the acquirers namely Grandhi Varalakshmi Mallikarjuna Rao Trust, Srinivas Bommidala and Ramadevi Trust, Grandhi Buchi Sanyasi Raju and Satyavathi Smitha Trust, Grandhi Kiran Kumar and Ragini Trust and the MR Family Fund Trust from applicability of regulation 3(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 with respect to their proposed indirect acquisition of 273,62,21,862 (constituting 70.30%) equity shares of the target company, M/s. GMR Infrastructure Limited.


3. Order in the matter of M/s. Nakoda

Limited directing M/s. G.P. Shah

Investment Private Limited, and others to

make combined public announcement.

SEBI, passed an order dated July 8, 2013, issuing directions to M/s. G.P. Shah Investment Private Limited, M/s. B.G. Jain Investment Private Limited, M/s. P.B. Jain Investment Private Limited, M/s. Varju Investment Private Limited, M/s. Nakoda Syntex Pvt. Ltd, Mr. Babulal G. Jain, B.G. Jain HUF, Ms. Pushpadevi B. Jain, Mr. Devendra B. Jain, Mr. Kartik B. Jain, Ms. Shilpa B. Jain and Ms. Neetu D. Jain to make a combined public announcement to

921


acquire shares of the Target Company, Nakoda Limited, in terms of regulation 3(2) of the SEBI(Substantial Acquisition of Shares and Takeovers) Regulations, 2011, within a period of 45 days from the date of the Order.


4. Order in the matter of M/s. Sai Prasad

Foods Ltd. and its Directors/ Promoters

SEBI passed an order on July 17, 2013 in the matter of M/s. Sai Prasad Foods Ltd. directing the company and its directors/promoters viz. Mr. Balasaheb K. Bhapkar, Ms. Vandana B. Bhapkar and Mr. Shashank B. Bhapkar not to collect any more money from investors including under the existing schemes, not to launch any new schemes, not to dispose of any of the properties or alienate any of the assets of the schemes and not to divert any funds raised from public at large which are kept in bank account(s) and/or in the custody of the company.

M/s. Sai Prasad Foods Ltd was prima facie found to be engaged in fund mobilising activity from public by floating ‘collective investment schemes’ as defined in Section 11AA of the SEBI Act.

The company had launched various collective investment schemes without obtaining certificate of registration from SEBI, thus contravening the provisions of section 12 (1B) of the SEBI Act and Regulation 3 of the SEBI (Collective Investment Schemes) Regulations, 1999.


5. Order against M/s. HB Securities

Limited in the matter of M/s. Jagsonpal

Pharmaceuticals Limited

In the matter of M/s. Jagsonpal Pharmaceuticals Limited, SEBI vide order dated July 23, 2013, suspended the certificate of registration of HB Securities Ltd. a stock broker and a member of NSE for a period of three days.


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1. Arbitration Mechanism in Stock Exchanges

– Jurisdiction

1. Reference may be made to circular no. CIR/MRD/DSA/24/2010 dated August 11,2010. Para 8 of the said circular no. CIR/MRD/DSA/24/2010 dated August 11,2010 is being modified. The para 8 of aforementioned circular dated August 11, 2010 shall now read as under:

8. Place of Arbitration

8.1 The Stock Exchanges (SEs) having nationwide terminals, shall provide arbitration facility (i.e arbitration as well as appellate arbitration) atleast at all centres specified by SEBI from time to time. However, the SEs having nationwide terminals may provide arbitration facility at additional centres, if SEs so desire. The arbitration and appellate arbitration shall be conducted at the centre nearest to the address provided by Client in the KYC form.

8.2 Other stock exchanges shall provide the arbitration facility, including appellate arbitration, at the place where it is located.

8.3 The application under section 34 of the Arbitration and Conciliation Act, 1996, if any, against the decision of the appellate panel shall be filed in the

CIRCULARS

competent Court nearest to the address provided by Client in the KYC form.”

2. The stock exchanges are advised to:-

a. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately;

b. bring the provisions of this circular to the notice of the members of the stock exchange and also to disseminate the same through their website; and

c. communicate to SEBI, the status of implementation of the provisions of this circular in the Monthly Development Reports to SEBI.

3. SEBI inspection of stock exchange shall cover implementation of this circular.

Source: CIR/MRD/ICC/20/2013 dated July 5, 2013

2. Arbitration Mechanism in Stock Exchanges

- Investor Service Centres

1. Reference may be made to circulars no. CIR/MRD/DSA/24/2010 dated August 31,2010, CIR/MRD/SA/03/2012 dated January 20, 2012 and CIR/MIRSD/2/2012 dated February 15, 2012 regarding investor service centres providing inter alia arbitration facility (arbitration as well as appellate arbitration). Presently, these facilities are being provided

923


at 8 centres viz. Delhi, Mumbai, Kolkata, Chennai, Ahmedabad, Hyderabad, Kanpur and Indore.

2. With a view to extend these facilities, it has been decided to increase the number of investor service centres providing inter alia arbitration facility (arbitration as well as appellate arbitration). Increasing the number of centres shall reduce the travelling and other incidental costs to investors in case they choose to avail these facilities. The following is decided:

a. Stock Exchanges with nation-wide terminals shall set up investor service centres at Bangalore, Pune, Jaipur, Gaziabad, Lucknow, Gurgaon, Patna and Vadodara. These centres shall provide investor grievances redressal mechanism and arbitration facility (arbitration as well as appellate arbitration).

b. The investor service centres at Bangalore, Pune, Jaipur and Gaziabad shall be established before December 31, 2013.

c. The investor service centres at Lucknow, Gurgaon, Patna and Vadodara shall be made functional by June 30, 2014.

d. Accordingly, all Stock Exchanges with nation-wide terminals would have to set-up these facilities at all 16 places mentioned above by June 30, 2014.

3. The stock exchanges are advised to:-

a. make necessary amendments to the relevant bye-laws, rules and regulations for the implementation of the above decision immediately;

b. bring the provisions of this circular to the notice of the members of the stock exchange and also to disseminate the same through their website; and

c. communicate to SEBI, the status of implementation of the provisions of this circular in the Monthly Development Reports to SEBI.

4. SEBI inspection of stock exchange shall cover implementation of this circular.

Source: CIR/MRD/ICC/21/2013 dated July 5, 2013

3. Revised Position Limits for Exchange

Traded Currency Derivatives

1. This is in partial modification of SEBI Circular No. SEBI/DNPD/Cir-38/2008 dated August 6, 2008, SEBI/DNPD/Cir-45/2009 dated March 24, 2009, CIR/DNPD/5/2010 dated July 30, 2010 and CIR/DNPD/2/2012 dated May 23, 2012 which, inter-alia, specified the position limits applicable for Client and Trading Member for Exchange Traded Currency Derivatives.

2. In consultation with RBI and in view of the recent turbulent phase of extreme volatility in USD-INR exchange rate, it has been decided

924


to curtail position limits and increase margin requirements for Currency Derivatives as follows:

a. Margins: Initial and extreme loss margins shall be increased by 100% of the present rates for USD-INR contracts in Currency Derivatives.

b. Client level position limits: The gross open position of a client across all contracts shall not exceed 6% of the total open interest or 10 million USD, whichever is lower.

c. Non-bank Trading Member position

limits: The gross open position of a Trading Member, who is not a bank, across all contracts shall not exceed 15% of the total open interest or 50 million USD whichever is lower.

3. Stock Exchanges are directed to:

a) take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant byelaws, rules and regulations;

b) implement provisions of this circular with effect from July 11, 2013;

c) bring the provisions of this circular to the notice of the trading members/clearing members and also disseminate the same on its website.

Source: CIR/MRD/DP/ 22 /2013 dated July 8, 2013

4. FII / QFI Investments in Security

Receipts

1. The consolidated FDI policy circular issued by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, effective from April 05, 2013, states that FII investments in Security Receipts issued by Asset Reconstruction Companies should be within the FII limit on corporate bonds prescribed from time to time.

2. Accordingly, the investments in Security Receipts issued by Asset Reconstruction Companies by FII’s shall be reckoned against the extant Corporate Debt Limits.

3. The investments of FIIs in Security Receipts shall be subject to terms and conditions as specified by the Reserve Bank of India from time to time.

Source: CIR/IMD/FIIC/9/2013 dated July 9, 2013

5. Operational, Prudential and Reporting

Norms for Alternative Investment Funds

(AIFs)

1. SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) were notified on May 21, 2012. Regulations 18 (c) and (d) of the SEBI (Alternative Investment Funds) Regulations, 2012 (“AIF Regulations”) state as under

Reg 18(c)- ‘Category III Alternative Investment on redemption and conflict of interest as may be specified

925


by the Board.’ Funds may engage in leverage or borrow subject to consent from the investors in the fund and subject to a maximum limit, as may be specified by the Board

Reg 18(d)- ‘Category III Alternative Investment Funds shall be regulated through issuance of directions regarding areas such as operational standards, conduct of business rules, prudential requirements, restrictions

2. Further, under Regulation 28 of the said Regulations, the Board may at any time call upon the Alternative Investment Fund to file such reports, as the Board may desire, with respect to the activities carried on by the Alternative Investment Fund.

3. In this regard, it is specified as under:

3.1 Risk Management and Compliance

All Category III AIFs which employ leverage shall:

i. have a comprehensive risk management framework supported by an independent risk management function, appropriate to the size, complexity and risk profile of the fund.

ii. have a strong and independent compliance function appropriate to the size, complexity and risk profile of the fund supported by sound and controlled operations and infrastructure, adequate

resources and checks and balances in operations.

iii. maintain appropriate records of the trades/transactions performed and such information should be available to SEBI, whenever sought

iv. provide full disclosure and transparency about conflicts of interest and how they manage them from time to time to investors in accordance with Regulation 21 of the AIF Regulations and any other guidelines as may be specified by SEBI from time to time. Such conflicts shall be disclosed to the investors in the placement memorandum and by separate correspondences as and when such conflicts may arise. Such information shall also be disclosed to SEBI as and when required by SEBI.

3.2 Submission of reports to SEBI

i. Under Regulation 28 of the AIF Regulations, All AIFs shall submit periodical reports to SEBI relating to their activity as an Alternative Investment Fund.

ii. Category I and II AIFs and the Category III AIFs which do not undertake leverage shall submit

926


report to SEBI on a quarterly basis in the format as specified in Annexure I.

iii. Category III AIFs which undertake leverage shall submit a report to SEBI on a monthly basis in the format as specified in Annexure

II.

iv. Reports shall be submitted by AIFs online through the online reporting system provided by SEBI. However, till such online system is made available, reports shall be sent by email to [email protected]. Excel sheet to be filled in this regard is available on SEBI website under the section ‘Info for’ ‘Alternative Investment Funds’.

Once the online system is made available by SEBI, no reports shall be sent by email. Further, AIFs are advised to note that no physical reports shall be filed with SEBI.

v. The reports for the period upto the quarter ended June 30, 2013 for AIFs which are already registered with SEBI shall be sent vide email to the aforesaid email address within one month from the date of this circular.

vi. Reports shall be submitted within

7 calendar days from the end of quarter/ end of month as the case maybe.

3.3 Redemption norms

i. These norms shall apply to open ended Category III AIFs for all their existing and new schemes.

ii. The Manager of such AIFs shall ensure adequate and sufficient degree of liquidity of the scheme/ fund in order to allow it, in general, to meet redemption obligations and other liabilities.

iii. the Manager shall establish, implement and maintain an appropriate liquidity management policy and process to ensure that the liquidity of the various underlying assets is consistent with the overall liquidity profile of the fund/scheme while making any investment.

iv. The Manager of such AIFs shall clearly disclose the possibility of suspension of redemptions in exceptional circumstances to investors in the placement memorandum.

v. Suspension of redemptions by the Manager shall be justified only:

1. in exceptional circumstances

927


provided that such suspension is exclusively in the best interest of investors of the AIF , or

2. if the suspension is required under the AIF regulations or required by SEBI.

vi. The Manager of such AIFs shall build the operational capability to suspend redemptions in an orderly and efficient manner. During the suspension of the redemptions, the Manager shall not accept new subscriptions.

vii. The decision by the Manager to suspend redemptions, in particular the reasons for the suspension and the planned actions shall be appropriately documented and communicated to SEBI and to the investors.

viii. The suspension shall be regularly reviewed by the Manager. The Manager shall take all necessary steps in order to resume normal operations as soon as possible having regard to the best interest of investors.

ix. The Manager of such AIFs shall keep SEBI and investors informed about the actions undertaken by

the manager throughout the period of suspension. The decision to resume normal operations shall also be communicated to SEBI and the investors as soon as possible.

3.4 Prudential requirements

All Category III AIFs which undertake leverage, whether through investment in derivatives or by borrowing or by any other means shall comply with the following prudential requirements:

i. For the purpose of arriving at leverage undertaken by an AIF, leverage shall be calculated as the ratio of the exposure to the Net Asset Value of the AIF.

ii Leverage shall be calculated as under:

Leverage =Total exposure {Longs+Shorts (after offsetting as permitted)}

Net Asset Value (NAV)

iii. The leverage of a Category III AIF shall not exceed 2 times of the NAV of the fund. i.e. If an AIF’s NAV is Rs. 100 crore, its exposure (Longs+shorts) after offsetting positions as permitted shall not exceed Rs. 200 crore.

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Calculation of exposure and NAV

i. The total exposure of the fund for the purpose of computing leverage shall generally be the sum of the market value of all the securities/ contracts held by the fund. The total exposure at any point of time will be a sum of exposure through instruments in both the spot market and the derivative market.

ii. Exposure shall generally be calculated as below:

1. Futures (long and short)= Futures Price * Lot Size * Number of Contracts

2. Options bought= Option Premium Paid * Lot Size * Number of Contracts

3. Options sold= Market price of underlying * Lot size * Number of contracts

4. In case of any other derivative exposure, the exposure is proposed to be calculated as the notional market value of the contract

iii. Idle cash and cash equivalents shall not be included in the calculation of total exposure. Long put positions shall be considered as short exposure and short put positions shall be considered as long exposure. Short selling of a stock through SLBM shall be treated as short exposure. Temporary borrowing

arrangements which relate to and are fully covered by capital commitments from investors need not be included in calculation of leverage.

iv. Offsetting of positions shall be allowed for calculation of leverage for transactions entered into for hedging and portfolio rebalancing as provided in the circular No. MFD/CIR/21/ 25467/2002 dated December 31, 2002 and to the extent as specified in the circular.

v. Sum of all exposures without offsetting transactions for hedging and portfolio rebalancing shall be termed as ‘gross exposure’ and the ratio of such gross exposure and Net Asset Value shall be termed as ‘gross leverage’.

vi. Net Asset Value (NAV) of the AIF shall be the sum of value of all securities adjusted for Mark to market gains/losses (including cash and cash equivalents). The NAV shall exclude any funds borrowed by the AIF.

vii. All the above restrictions/limits shall apply at the scheme-level.

Breach of leverage limits

i. All Category III AIFs shall have adequate systems in place to monitor their exposures. It shall be responsibility of the AIFs to shall ensure that the leverage shall not exceed the prescribed limit at all times.

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ii. All Category III AIFs shall report to the custodian on a daily basis the amount of leverage at the end of the day (based on closing prices) and whether there has been any breach of limit during the day.

iii. In case of a breach in limit:

a. Obligation of AIF:

i. The AIF shall send a report to the custodian in accordance with point (ii) above.

ii. The AIF shall send a report to all its clients before 10 a.m. on the next working day stating that there is a breach in the limit along with reasons for the same.

iii. The AIF shall square off the excess exposure and bring back the leverage within the prescribed limit by end of next working day. This shall however not prejudice any action that may be taken by SEBI against the AIF under SEBI (Alternative Investment Funds) Regulations, 2012 or the SEBI Act.

iv. A confirmation of squaring off of the excess exposure shall be sent to all the clients

by the AIF by end of the day on which the exposure was squared off.

b. Obligation of custodian:

i. The custodian shall report to SEBI providing name of the fund, the extent of breach and reasons for the same before 10 a.m. on the next working day.

ii. A confirmation of squaring off of the excess exposure shall be sent to SEBI by the custodian by end of the day on which the exposure was squared off

4. Further, all AIFs shall ensure that all marketing documents of the fund/ scheme, if any, can be distributed on a private basis only to its proposed investors and shall be in accordance with the placement memorandum of the fund/scheme.

Source: CIR/IMD/DF/10/2013 dated July 29 2013

6. Utilization Period for Government Debt

Limits

1. SEBI vide circular CIR/IMD/FIIC/22/2012 dated November 07, 2012 had reduced the utilisation period for Government debt limits allocated through auction process to 30 days from 45 days.

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2. Currently, the unutilised debt limits as on the 18th of every month are auctioned on the 20th of the month (the next working day in case 20th is a holiday). Thus, an FII/QFI purchasing debt limits in the auction on the 20th has time till 19th of the next month to utilise the debt limits.

3. The limits not utilised by the FIIs/QFIs as on the 19th are added back to the pool of free limits. Since the date of expiry of the utilisation period for debt limits (19th) exceeds the cut-off date for the free limit to be auctioned (18th), by one day, the unutilised limits being freed up on the 19th are auctioned in the subsequent month and not in the same month. On account of this, free limits remain unavailable for investments for two months till the FIIs/QFIs can purchase them in the subsequent auction.

4. Therefore, in partial modification to para 2 of CIR/IMD/FIIC/22/2012 dated November 07, 2012, in order to ensure that the unutilised debt limits are put up for auction without delay, it is proposed that FIIs/QFIs may be permitted to utilise the debt limits allocated to them in each monthly auction till the 17th day of the succeeding month. Any unutilised limit as on the 18th of each month would get auctioned on the 20th of each month, in terms of SEBI circular CIR/IMD/FIIC/8/2013 dated June 12, 2013.

5. The Government Debt Limits allocated in the auction held on July 22, 2013 shall adhere to the revised utilisation period.

Source: CIR/IMD/FIIC/ 11 /2013 dated July 31 2013

Note: Above information are indicative only. For details, please

log on to http://www.sebi.gov.in/sebiweb/home/list/1/7/0/0/

Circulars

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• SEBI imposed a monetary penalty of` 1,00,000/- (Rupees One Lakh Only) under Section 15HB and ` 2,00,000/- (Rupees Two Lakhs Only) under section 15 A(b) of the SEBI Act and thus a total penalty of ` 3,00,000 (Rupees Three Lakhs Only) on Mr. K.S. Ramakrishna for violation of the statutory obligation under clause 3.2 and 3.3 of Part A, Schedule I of Regulation 12(1) of the PIT Regulations and Regulation 13(4) read with Regulation 13(5) of PIT Regulations, 2003 in the matter of M/s. Karuturi Global Limited.

• SEBI imposed a monetary penalty of ` 15,00,000/- (Rupees Fifteen Lakhs Only) on Mr. K.S. Ramakrishna, Ms. Anitha Karuturi, M/s Rhea Holdings Pvt. Ltd., M/s Simply Class Fashions Pvt. Ltd., Mr. Anil T under Section 15 H of the SEBI Act for the violation of the statutory obligation under Regulation 11(1) of SAST Regulations, 1997 in the matter of M/s. Karuturi Global Limited.

• SEBI imposed a monetary penalty of ` 2,00,000 /- (Rupees Two Lakhs Only) on Ms. Anitha Karuturi under section 15 A(b) of the SEBI Act for the violation of the statutory obligation under Regulation 13(4) read with Regulation 13(5) of PIT Regulations, 2003 in the matter of M/s. Karuturi Global Limited.

ORDERS PASSED BY CHAIRMAN/MEMBERSAND ADJUDICATING OFFICERS

• SEBI imposed a monetary penalty of ` 15,00,000/- (Rupees Fifteen Lakhs Only) on Mr. K.S. Ramakrishna, Ms. Anitha Karuturi, Mr. Sunil Hemdev, Mr. Vivek Caroli, Mr. C.D. Vijay under Section 15 H of the SEBI Act for the violation of the statutory obligation under Regulation 11(1) of SAST Regulations, 1997 in the matter of M/s. Karuturi Global Limited.

• SEBI imposed a monetary penalty of ` 3,00,000/- (Rupees Three Lakhs Only) on M/s Rhea Holdings Pvt. Ltd. under section 15 A(b) of the SEBI Act for the violation of the statutory obligation under Regulation 7(1) read with Regulation 7(2) of SAST Regulations and Regulations 13(1), 13(3) read with Regulation 13(5) of PIT Regulations, 2003 in the matter of M/s. Karuturi Global Limited

• SEBI imposed a monetary penalty of ` 2,00,000/- (Rupees Two Lakhs Only) on Ms Simply Class Fashions Pvt. Ltd. under section 15 A(b) of the SEBI Act for the violation of the statutory obligation under Regulation 7(1) read with Regulation 7(2) of SAST Regulations and Regulations 13(1) of PIT Regulations, 2003 in the matter of M/s. Karuturi Global Limited

• SEBI ordered freezing of voting rights and corporate benefits like dividend, rights, bonus shares. Split, etc. with respect to the excesses of proportionate promoter / promoter group

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shareholding of Gillette till such time these companies comply with the minimum public shareholding requirement. It further prohibited promoters / promoter group and directors of Gillette, either directly or indirectly in any manner whatsoever, except for the purpose of minimum public shareholding requirement till such time Gillette comply with the minimum public shareholding requirement for not complying with the minimum public shareholding requirement in terms of Rule 19A of SCRR within the specified timeline.

• SEBI granted exemption to the Acquirers, namely, Mr. Grandhi Varalakshmi, Mallikarjuna Rao Trust, Srinivas Bommidala and Ramadevi Trust, Grandhi Buchi Sanyasi Raju and Satyavathi Smitha Trust, Grandhi Kiran Kumar and Ragini Trust and the GMR Family Fund Trust from complying with the requirements of regulation 3(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 with respect to their proposed indirect acquisition of 273,62,21,862 (constituting 70.30%) equity shares (of face value of ` 10/- each) of the target company, M/s. GMR Infrastructure Limited.

• SEBI suspended the certification of registration of Mr. Deepak C. Dalal (Proprietor of M/s Chandravadan J. Dalal, member of BSE (SEBI Registration No. INB011238715) for a period of 15 days for violating section 12A(a), (b) and (c) of the SEBI Act read with regulations 3 (a), (b), (c) & (d), 4(1), 4(2) (a), (g) & (n) of

the PFUTP Regulations, Clause A(1), (2), (3), (4) and (5) of the Code of Conduct for stock brokers as specified in Schedule II read with Regulation 7 of the Stock Brokers Regulations.

• SEBI suspended the certification of registration of M/s. Krishvi Securities P. Ltd, member of BSE (SEBI registration No. INB011202737) for a period of 15 days for violating section 12A(a), (b) and (c) of the SEBI Act read with regulations 3 (a), (b), (c) & (d), 4(1), 4(2) (a) & (g) of the PFUTP Regulations, Clause A(1), (2), (3), (4) and (5) of the Code of Conduct for stock brokers as specified in Schedule II read with provisions of regulation 7 of the Stock Brokers Regulations.

• SEBI under sections 19, 11 and 11B of the SEBI Act and regulation 32 of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 directed M/s. G.P. Shah Investment Private Limited, M/s. B.G. Jain Investment Private Limited, M/s. P.B. Jain Investment Private Limited, M/s. Varju Investment Private Limited, M/s. Nakoda Syntex Pvt. Ltd, Mr. Babulal G. Jain, B.G. Jain HUF, Ms. Pushpadevi B. Jain, Mr. Devendra B. Jain, Mr. Kartik B. Jain, Ms. Shilpa B. Jain and Ms. Neetu D. Jain to make a combined public announcement to acquire shares of the target company, M/s Nakoda Limited, in terms of regulation 3(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, within a period of 45 days from the date of this order.

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• SEBI confirmed the directions issued against M/s. Brooks Laboratories Limited, its Chairman - Mr. Atul Ranchal, its Managing Director - Mr. Rajesh Mahajan, its Chief Executive Officer - Mr. Durga Shankar Maity, its erstwhile Company Secretary and Compliance Officer - Ms. Parvinder Kaur and its Chief Finance Officer - Mr. Ketan Shah, vide the ad interim ex-parte Order dated December 28, 2011, while vacated the directions issued against Ms. Monika Sabharwal and Mr. Lalit Mahajan (erstwhile independent directors of M/s. Brooks Laboratories Limited) vide the ad interim ex-parte Order dated December 28, 2011.

• SEBI, in exercise of Section 19 of the Securities SEBI Act, 1992 and Section 11, 11B and 11(4) read with the Regulations 65 and 73 of the SEBI(Collective Investment Schemes) Regulations, 1999, issued the following directions against M/s. Sumangal Industires Limited:

a) M/s. Sumangal Industries Limited shall not collect any money from investors or launch or carry out any Collective Investment Schemes including the scheme which has been identified as a Collective Investment Scheme in this Order.

b) M/s. Sumangal Industries Limited and its promoters/ directors, including Mr. Subrata Adhikary, Mr. Sajal Bhattacharya, Mr. Kaushik Roy, Mr.

Indushekhar Chakraboty, Mr. Soumen Ghosh, Ms. Madumita Adhikary, Mr. Somnath Adhikary, Ms. Gopal Chandra Adhikary, Mr. Sarbani Adhikary, Mr. Astick Kumar Roy and Mr. Debika Adhikary shall wind up the existing Collective Investment Schemes and refund the money collected by the said company under the schemes with returns which are due to its investors as per the terms of offer within a period of three months from the date of this Order and submit a winding up and repayment report to SEBI in accordance with the SEBI (Collective Investment Schemes) Regulations, 1999.

• SEBI under sections 11(1), 11B and 11(4) of the SEBI Act read with Regulation 65 of CIS Regulations, hereby direct M/s Rose Valley Hotels and Entertainments Limited and its Directors:

a. not to collect any more money from investors including under the existing schemes;

b. not to launch any new schemes;

c. not to dispose of any of the properties or alienate any of the assets of the schemes;

d. not to divert any funds raised from public at large which are kept in bank account(s) and/or in the custody of the company.

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• SEBI restrained Ms. Heena Dhiren Gala and Mr. Dhiren Bhavanji Gala from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of two years from the date of this order for violating the provisions of Regulations 3(a) to (d) and regulations 4(1) of the PFUTP regulations, 2003 read with Regulations 12 (a) to (c) of SEBI Act 1992 for indulging in fraudulent, manipulative and deceptive scheme of cornering the shares reserved for RII category in the matter of M/s. Spice Communication Limited.

• SEBI restrained Mr. Tejas Kanabar from accessing the capital market and prohibited from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of three years from the date of this order for violating the provisions of Regulations 3(a) to (d) and regulations 4(1) of the PFUTP regulations, 2003 for indulging in fraudulent, manipulative and deceptive scheme of cornering the shares reserved for RII category in the matter of M/s. Spice Communication Limited.

• SEBI, under Section 19 read with Sections 11(1), 11(4) and 11B of the SEBI Act, 1992 and Regulation 65 of CIS Regulations, issued the following directions against M/s HBN Dairies and Allied Limited (HBN) and its directors:

a. HBN and its directors Mr. Harmender Singh Sran, Mr. Satnam Singh Randhawa, Mr. Amandeep Singh Sran, Mr. Gajraj Singh Chauhan, Mr. Manjeet Kaur Sran,

Ms. Jasbeer Kaur, Mr. Rakesh Kumar Tomar, Mr. Sukhdev Singh Dhillon and Ms. Sukhjeet Kaur, shall not solicit or collect any further money/ investments from investors/ customers into its schemes or launch or carry out any money collection schemes.

b. HBN and its aforesaid directors shall submit to SEBI, a reasonable proposal including firm time lines with regard to the manner in which it proposes to wind up its schemes and make payments along with the returns which are due to its investors. This proposal shall be submitted within a period of 30 days from the date of this Order.

• SEBI under sections 11(1), 11B and 11(4) of the SEBI Act, 1992 read with Regulation 65 of CIS Regulations directed M/s. Sai Prasad Foods Ltd. and its Directors viz. Mr. Balasaheb K. Bhapkar, Mrs. Vandana B. Bhapkar and Mr. Shashank B. Bhapkar, -

a) not to collect any more money from investors including under the existing schemes;

b) not to launch any new schemes;

c) not to dispose of any of the properties or alienate any of the assets of the schemes;

d) not to divert any funds raised from public at large which are kept in bank account(s) and/or in the custody of the company.

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• SEBI under sections 11(1), 11B and 11(4) of the SEBI Act, 1992 read with Regulation 65 of CIS Regulations directed M/s. Sai Prasad Properties Ltd. and its directors/promoters, including Mr. Balasaheb K Bhapkar and Mrs. Vandana B Bhapkar, -

a. not to collect any more money from investors including under the existing schemes;

b. not to launch any new schemes;

c. not to dispose of any of the properties or alienate any of the assets of the schemes;

d. not to divert any funds raised from public at large which are kept in bank account(s) and/or in the custody of the company.

• SEBI imposed a penalty of `1,00,000 (Rupees One Lakh only) on Mr. Madanchand Prasanchand under Section 15A(b) of the SEBI Act, 1992 for violating the provisions of Regulation 29(1) and 29(2) read with Regulation 29(3) of the SAST Regulations, 2011 and Regulation 13(1) and 13(3) read with Regulation 13(5) of the PIT Regulations, 1992 for non-disclosure of the change in the shareholding in the matter of M/s. Raj Packaging Industries Limited

• SEBI impose a penalty of `50,000 (Rupees Fifty Thousand only) on Mr. Subash Chandran under Section 15A(b) of the SEBI Act, 1992 for violating the provisions of Regulation

13(4) read with regulation 13(5) of the PIT Regulations, 1992 in the matter of M/s. Satyam Computer Services Limited

• SEBI imposed a penalty of `2,00,000/- (Rupees Two lakhs only) each on M/s. Sidhant Financial Services Limited and M/s. Shentracon Trexim Private Limited under Section 15A(a) of SEBI Act, 1992 for violation of Section 11C(2) & 11C(3) of the SEBI Act, 1992 in the matter of dealings of Mr. Sanjay Dangi and other entities in various scrips.

• SEBI under section 11(1), 11(2) (j), 11(4) and 11(B) issued the following directions

a) The interim directions issued on June 04 2013 shall not hinder the already announced voluntary delisting process initiated by the company, M/s. Fresenius Kabi Oncology Limited and that M/s. Fresenius Kabi (Singapore) Pte. Limited (the promoter of the company) shall be permitted to buy the equity shares from the public shareholders as part of the delisting offer. The company shall endeavour to complete the delisting process within a period of three months from the date of this report and report its outcome on completion of three months

b) The proposed delisting offer of the company, pre OFS shareholding of the promoter shall be applicable for the purpose of regulations 17 of the

936


SEBI (Delisting of Equity Shares) Regulations, 2009.

c) The directions contained in 17(b) of the interim order will be reimposed/revived immediately in case the delisting process of the company is not successful within a period of three months from the date of this order.

• SEBI in terms of Sections 11(2)(j) and Section 19 of the SEBI Act, 1992 read with Section 12A of Securities Contracts (Regulation) Act, 1956 warn the Governing Board of the M/s. Pune Stock Exchange Limited and advise it to be more cautious in the discharge of its functions and regulatory duties

• SEBI, under section 19 read with section 12(3) of the Securities and Exchange Board of India Act, 1992 and regulation 28(2) of SEBI (Intermediaries) Regulations, 2008, warned the stock broker M/s. FMS Securities Ltd. (presently known as Share India Securities Ltd.) having SEBI Registration number (INB011079838), a member of the BSE to be careful and cautious in the conduct of its stock broking activity and to adhere to and comply with all the statutory provisions while carrying out its activities in the securities market.

• SEBI suspended the certificate of registration of M/s. HB Securities Ltd. as a stock broker and a member of NSE for a period of three days under section 19 read with section 12(3) of the SEBI Act, and regulation 28(2) of

Intermediaries Regulations, hereby having SEBI Registration No. INB230607337)

• SEBI imposed a penalty of ` 2,00,000/- (Rupees Two Lakh Only) on M/s. Valecha Engineering Limited, under Section 15 HB of the SEBI Act, 1992 for failing to comply with the provisions of Clause 3.2.3 (c) of Part A of Schedule I as specified under Regulation 12 (1) of the PIT Regulations, 1992 in the matter of M/s. Valecha Engineering Ltd.

• SEBI under section 19 of the Securities and Exchange Board of India Act, 1992 read with sections 11(1), 11(2)(j), 11(4) and 11B thereof and section 12A of the Securities Contracts (Regulation) Act, 1956, revoked the directions issued vide the interim order dated June 04, 2013 against the company, M/s. Kampani Consultants Limited, its directors, promoters and promoter group, with immediate effect.

• SEBI imposed a consolidated penalty of `1,00,000/- (Rupees One Lacs only) on M/s. Lse Securities Ltd, Broker of NSE, BSE and NSE (F&O), having SEBI Registration No. INB231087033, INB011087039 and INF231087033 under section 15 HB for violation of clause A2 of Code of Conduct for Brokers laid down under Schedule II, r/w Regulation 7 of the Stock Brokers and Sub Brokers Regulations, 1992.

• SEBI imposed a penalty of ̀ 2,00,000/- (Rupees Two lakhs only) each on M/s. Ganga Jamuna Financial Advisors Private Limited and M/s.

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Lotus Capital Financial Services Limited.,` 3,00,000/- (Rupees Three lakhs only) each on M/s. Calcom Consultancy Services Private Limited, M/s. Micro Management Limited and ` 6,00,000/- (Rupees Six lakhs only) on M/s. Yaduka Financial Services Limited under Section 15A(a) of SEBI Act, 1992 for violation of Section 11C(2) & 11C(3) of the SEBI Act, 1992 in the matter of dealings of Mr. Sanjay Dangi and other entities in various scrips.

• SEBI imposed a penalty of `7,00,000/- (Rupees Seven Lakh) only, on Mr. Chirag Tanna in terms of the provisions of Section 15HA of the Securities and Exchange Board of India Act,1992 for his violation of the provisions of Regulations 4(1) and 4(2)(a), (b) and (e) of the Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 2003.

• SEBI imposed a penalty of ` 25,00,000 (Rupees Twenty Five Lac only) in terms of Section 15HA of SEBI Act on M/s. Keynote Commodities Limited for the violation of regulations 3 (b), (c), (d) & 4(1) & 4(2)(c) of PFUTP Regulations, 2003 read with Section 12A(b) of SEBI Act 1992 in the matter of M/s. Emmbi Polyarns Limited.

• SEBI imposed a penalty of ` 1,00,000/- (Rupees One Lakh only) in terms of the provisions of Section 23E of SCRA and Rule 5(1) of the SCRA Adjudication Rules

and `5,50,000/- (Rupees Five Lakhs Fifty Thousand only) in terms of the provisions of Section 15A(b) of SEBI Act, 1992 and Rule 5(1) of the SEBI Adjudication Rules.

• SEBI imposed a penalty of ` 1,00,000/- (Rupees One Lakh only) for violation of Clause 35 of the Listing Agreement read with Section 21 of SCRA; a penalty of ̀ 2,50,000/- (Rupees Two Lakhs Fifty Thousand only) for violation of Regulation 7(3) and 8A(4) of Takeover Regulations read with Regulation 35 (2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and a penalty of ` 3,00,000/- (Rupees Three Lakhs only) for violation of Regulation 13(6) of Insider Trading Regulations i.e., a total penalty of `6,50,000/- (Rupees Six Lakhs Fifty Thousand only) on M/s. Sanguine Media Limited in the matter of M/s. Sanguine Media Limited.

• SEBI imposed a consolidated penalty of `1,00,00,000/- (Rupees One Crore only) on M/s. Golden Tobacco Ltd. for the violation of Clause 35 of the Listing Agreement and Regulations 3(d), 4(2)(f) of PFUTP Regulations, 2003 in the matter of M/s. Golden Tobacco Ltd.

• SEBI revoked the directions issued vide the interim order dated June 04, 2013 against the company, M/s. Chettinad Cement Corporation Limited, its directors, promoters and promoter group, with immediate effect.

938


• SEBI in terms of Section 19 of the Securities and Exchange Board of India Act, 1992 read with Regulation 28(2) of the Securities and Exchange Board of India (Intermediaries) Regulations, 2008, cancelled the following certificates granted by the Securities and Exchange Board of India to M/s. Parsoli Corporation Limited, as stock broker: a. SEBI Registration Nos. INB/ INF 230806837 on the National Stock Exchange of India Limited b. SEBI Registration Nos. INB/ INF 010806835 on the Bombay Stock Exchange Limited.

• SEBI under section 19 of the Securities and Exchange Board of India Act, 1992 read with sections 11(1), 11(2)(j), 11(4) and 11B thereof and section 12A of the Securities Contracts (Regulation) Act, 1956, hereby revoked the directions issued vide the interim order dated June 04, 2013 against the company, M/s. Foseco India Limited, its directors, promoters and promoter group, with immediate effect.

• SEBI suspended the certificate of registration of the noticee i.e., M/s. GKK Capital Markets Pvt. Ltd. having SEBI Registration No. (INB030974733) as a stock broker and a member of Calcutta Stock Exchange Limited for a period of one month.

• SEBI in exercise of the powers under section 19 read with section 11(4) and 11B of the SEBI act and regulation 11(1) of the PFUTP regulations, 2003 issued following directions

a) M/s. Grishma Securities Pvt Ltd is restrained from buying selling or otherwise dealing in securities in its proprietary account directly or indirectly for a period of five years.

b) Mr. Chandrika H. Gandhi, Mr. Ketan C. Shah, Mr. Chhabil C. Shah, Mr. Mihir Ghelani are restrained from buying, selling or otherwise dealing in securities, directly or indirectly, for a period of five years.

c) Mr. Vimal Patel and Mr Vanraj Kahor are restrained from buying selling or otherwise dealing in securities directly or indirectly for a period of five years.

• SEBI under section 19 of the Securities and Exchange Board of India Act, 1992 read with regulation 28(2) of the SEBI (Intermediaries) Regulations, 2008, hereby prohibit the noticee, M/s. SMC Global Securities Limited (SEBI Registration No. INF 230771431) from taking up any new assignment or contract or launch a new scheme for a period of three months.

Note: Above information are indicative only. For details, please log on to http://www.sebi.gov.in/sebiweb/home/list/2/9/0/1/Orders

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1. Basel Committee Publishes Report on

Regulatory Consistency of Risk-Weighted

Assets in Banking Book

The Basel Committee on Banking Supervision (BCBS) published its first report on the analysis of risk-weighted assets (RWAs) for credit risk in the banking book. The report forms part of its Regulatory Consistency Assessment Programme (RCAP), which is intended to ensure consistent implementation of the Basel III framework. The report also includes a preliminary discussion of potential policy options that the BCBS could pursue in seeking to minimize excessive practice-based variations.Source: http://www.bis.org/publ/bcbs256.pdf

2. Basel Committee Publishes Discussion

Paper on the Regulatory Framework:

Balancing Risk Sensitivity, Simplicity and

Comparability

The Basel Committee on Banking Supervision (BCBS) published a Discussion Paper on the topic of balancing risk sensitivity, simplicity and comparability within the Basel capital standards. This paper discusses the reasons behind the evolution of the current framework, and outlines the potential benefits and costs that arise from a more risk sensitive methodology. The paper also discusses ideas that could possibly be explored

HIGHLIGHTS OF DEVELOPMENTS IN INTERNATIONAL SECURITIES MARKETS

to further reform the framework with the BCBS objective that it continues to strike an appropriate balance between the complementary goals of risk sensitivity, simplicity and comparability.Source: http://www.bis.org/publ/bcbs258.pdf

3. Basel Committee Publishes Consultive

Document on Capital Requirements for

Banks’ Equity Investments in Funds

The Basel Committee on Banking Supervision (BCBS) published a set of proposals that would revise the prudential treatment of banks’ equity investments in funds. The revised standard was developed to address risks associated with banks’ interactions with shadow banking entities. Source: http://www.bis.org/publ/bcbs257.pdf

4. ESMA Launches Consultation on

Implementation of New CRA Regulation

The European Securities and Markets Authority (ESMA) published a Discussion Paper dealing with the implementation of the CRA3 Regulation, which entered into force on 20 June 2013. The Regulation, which complements the existing regulatory framework for credit rating agencies (CRAs), requires ESMA to draft Regulatory Technical Standards (RTS) on disclosure requirements for structured

940


finance instruments (SFIs), the European Rating Platform (ERP); and the periodic reporting on fees charged by CRAs. ESMA is seeking views from all interested parties in order to assist in its preparation of the draft RTS to be published for consultation in early 2014. ESMA must submit the draft RTS to the European Commission by 21 June 2014.Source: http://www.esma.europa.eu/news/ESMA-launches-

consultation-implementation-new-CRA-Regulation

5. Fed, FDIC, OCC Adopt Supplementary

Leverage Ratio Notice of Proposed

Rulemaking

The Federal Reserve Board, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) proposed a rule to strengthen the leverage ratio standards for the largest, most systemically significant U.S. banking organizations. The agencies are proposing a substantial phase-in period for the rule with an effective date of January 1, 2018. The NPR will be published in the Federal Register with a 60 day public comment period.Source: http://www.federalreserve.gov/newsevents/press/

bcreg/bcreg20130709a1.pdf

6. ASIC Implements Reporting Regime in

OTC Derivatives Reform

Final rules around over-the-counter (OTC) derivatives trade reporting obligations of financial institutions and the regulation of derivative trade

repositories in Australia have been released. The Australian reforms have been designed to ensure, as far as possible, consistency with international requirements as well as to maximize the prospects of substituted compliance or sufficient equivalence judgments being reached by foreign regulators. This would help ensure that global markets remain open to Australian participants and infrastructures.Source: http://www.asic.gov.au/asic/asic.nsf/byHeadline/13-

171MR%20OTC%20derivatives %20reform%20% 2 0 A S I C % 2 0 i m p l e m e n t s % 2 0 r e p o r t i n g % 2 0regime?opendocument

7. IOSCO Publishes Paper on Cyber-Crime,

Systemic Risk and Global Securities

Markets

The International Organization of Securities Commissions (IOSCO) published a joint staff working paper, with the World Federation of Exchanges (WFE), on cyber-crime, securities markets and systemic risk. The report explores the evolving nature of cyber-crime in securities markets and the threat it poses to the functioning of markets. The report also highlights the need to consider cyber threats to securities markets as a potential systemic risk.Source: http://www.iosco.org/research/pdf/swp/Cyber-

Crime-Securities-Markets-and-Systemic-Risk.pdf

8. EBA Consults on Reporting of Hypothetical

Capital of Central Counterparties

The European Banking Authority (EBA) launched a consultation on draft Implementing Technical

941


Standards (ITS) on the reporting of the hypothetical capital of a central counterparty (CCP). The European Banking Authority (EBA) has launched a consultation on draft Implementing Technical Standards (ITS) on the reporting of the hypothetical capital of a central counterparty (CCP).Source: http://www.eba.europa.eu/documents/10180/341503/

EBA_CP_2013_29.pdf

9. IOSCO Publishes Principles for Financial

Benchmarks

The International Organization of Securities Commissions (IOSCO) published its final report on Principles for Financial Benchmarks, which provides an overarching framework of principles for benchmarks used in financial markets. The principles form an integral part of IOSCO´s work in leading efforts to enhance the integrity, the reliability and the oversight of benchmarks by establishing guidelines for benchmark administrators and other relevant bodies. Source: h t tp ://www. iosco .org/l ibrar y/pubdocs/pdf/

IOSCOPD415.pdf

10. G20 Finance Ministers and Central Bank

Governors Take Stock of Progress on

Financial Reforms

A Communiqué from the G20 Finance Ministers and Central Bank Governors has been published following their meeting in Moscow on 19-20 July

2013. Amongst other things, the G20 welcomed the Organisation for Economic Co-operation and Development (OECD’s) High-Level Principles of Long-Term Investment Financing by Institutional Investors and called on the OECD to identify approaches to their implementation in consultation with participants and endorsed the Basel Committee on Banking Supervision’s work to assess the consistency of jurisdictions’ rules with Basel III, welcomed the recent Basel Committee report on the regulatory consistency of risk-weighted assets, and look forward to their further work to improve comparability of regulatory capital ratios.Source: http://www.oecd.org/about/secretary-general/oecd-

high-level-principles-long-term-investment-financing.htm

11. EBA Issues Recommendations on the

Preservation of Capital

The European Banking Authority (EBA) published a recommendation on capital preservation addressed to supervisory authorities in all EU Member States. The recommendation aims to preserve the enhanced capital base that banks built by 30 June 2012, in response to the EBA’s 2011 recapitalization recommendation. National authorities, in close cooperation with the EBA, will assess banks’ capital plans during the transition to the CRD/CRR full implementation.Source: http://www.eba.europa.eu/documents/10180/15953/

EBA-Rec-2013 03_Recommendation_on_Capital_ Preservation.pdf

942


12. Australian Regulators Report on OTC

Derivatives Markets

Australia’s Council of Financial Regulators, comprising the Reserve Bank of Australia, Australian Prudential Regulation Authority and Australian Securities and Investments Corporation (ASIC), released a report summarising their latest advice to the Treasurer regarding the implementation of mandatory requirements for central clearing, trade reporting and platform trading of over-the-counter (OTC) derivatives. The report’s key recommendation of mandatory central clearing of interest rate

derivatives denominated in USD, EUR, GBP and JPY is seen as unlikely to substantially increase the existing compliance burden on Australian dealers which already clear in accordance with other countries’ requirements for these currencies. If accepted, it is anticipated that Treasury will consult on a proposed determination and that ASIC will prepare draft transaction rules. Another report is expected early in 2014.

Source: h t t p : / / w w w. c f r . g o v. a u / p u b l i c a t i o n s / c f r -publications/2013/repor t-on-the-australian-otc-derivatives-market-july/pdf/report.pdf

943


ANNEXAnnex

1 SEBI Registered Market Intermediaries/Institutions2 Company-Wise Capital Raised through Public and Rights Issues (Equity) during July 20133 Rating Assigned to IPOs during July 20134 Open Offers under SEBI Takeover Code closed during July 20135 Capital Raised from the Primary market through though Public and Rights Issues

5A Issues Listed on SME Platform6 Industry-wise Classifi cation of Capital Raised through Public and Rights Issues7 Sector-wise and Region-wise Distribution of Capital Mobilised through Public and Rights Issues8 Size-wise Classifi cation of Capital Raised through Public and Rights Issues9 Capital Raised by Listed Companies from the Primary Market through QIPs10 Preferential Allotments Listed at BSE and NSE11 Private Placement of Corporate Debt Reported to BSE and NSE12 Distribution of Turnover on Cash Segments of Exchanges13 Cash Segment of BSE14 Cash Segment of NSE15 Cash Segment of MCX-SX16 Trends in Cash Segment of BSE during July 201317 Trends in Cash Segment of NSE during July 201318 Trends in Cash Segment of MCX-SX during July 201319 Turnover and Market Capitalisation at BSE and NSE during July 201320 City-wise Distribution of Turnover on Cash Segments of BSE, NSE and MCX-SX21 Categorywise Share of Turnover in Cash Segment of BSE22 Categorywise Share of Turnover in Cash Segment of NSE23 Component Stocks: BSE Sensex during July 201324 Component Stocks: S&P CNX Nifty index during July 201325 Advances/Declines in Cash Segment of BSE, NSE and MCX-SX26 Trading Frequency in Cash Segment of BSE, NSE and MCX-SX27 Volatility of Major Indices28 Percentage Share of Top ‘N’ Securities/Members in Turnover of Cash Segment29 Settlement Statistics for Cash Segment of BSE30 Settlement Statistics for Cash Segment of NSE31 Settlement Statistics for Cash Segment of MCX-SX32 Equity Derivatives Segment at BSE (Turnover in Notional Value)33 Equity Derivatives Segment at NSE (Turnover in Notional Value)34 Equity Derivatives Segment at MCX-SX (Turnover in Notional Value)35 Equity Derivatives Trading at BSE during July 2013 (Turnover in Notional Value)

944


36 Equity Derivatives Trading at NSE during July 2013 (Turnover in Notional Value)37 Equity Derivatives Trading at MCX-SX during July 2013 (Turnover in Notional Value)38 Settlement Statistics in Equity Derivatives Segment at BSE, NSE and MCX-SX39 Categorywise Share of Turnover & Open Interest in Equity Derivative Segment of BSE40 Categorywise Share of Turnover & Open Interest in Equity Derivative Segment of NSE41 Instrumentwise Turnover in Index Derivatives at BSE42 Instrumentwise Turnover in Index Derivatives at NSE43 Trading in the Corporate Debt Market44 Trading Statistics of Currency Derivatives Segment at NSE45 Trading Statistics of Currency Derivatives Segment at MCX-SX46 Trading Statistics of Currency Derivatives Segment at USE47 Daily Trends of Currency Derivatives Trading at NSE during July 201348 Daily Trends of Currency Derivatives Trading at MCX-SX during July 201349 Daily Trends of Currency Derivatives Trading at USE during July 201350 Settlement Statistics of Currency Derivatives Segment51 Instrumentwise Turnover in Currency Derivatives of NSE52 Instrumentwise Turnover in Currency Derivative Segment of MCX-SX53 Maturitywise Turnover in Currency Derivative Segment of NSE54 Maturitywise Turnover in Currency Derivative Segment of MCX-SX55 Trends in Foreign Institutional Investment56 Daily Trends in Foreign Institutional Investment during July 201357 Notional Value of Participatory Notes (PNs) Vs Assets Under Management of FIIs (in Rs. Crores)58 Trends in Resource Mobilization by Mutual Funds59 Type-wise Resource Mobilisation by Mutual Funds: Open-ended and Close-ended60 Scheme-wise Resource Mobilisation and Assets under Management by Mutual Funds61 Number of Schemes and Folios by Investment Objective62 Trends in Transactions on Stock Exchanges by Mutual Funds63 Asset Under Management by Portfolio Manager64 Substantial Acquisition of Shares and Takeovers65 Progress Report of NSDL & CDSl as on July 31, 2013 (Listed Companies)66 Progress of Dematerialisation at NSDL and CDSL67 Assets under the Custody of Custodians68 Ratings Assigned for Long-term Corporate Debt Securities (Maturity ≥ 1 year)69 Review of Accepted Ratings of Corporate Debt Securities (Maturity ≥ 1 year)70 Macro Economic Indicators

N.B.:

1. NA = Not Applicable/Available.2. 1 crore = 10 million = 100 lakh.3. The total provided in the Annexure and Statistical Tables May not always match with the sum total of the break-ups due to decimal differences.4. The data for the current month is provisional.

945


Table 1: SEBI Registered Market Intermediares/Institutions

Market Intermediaries 2010-11 2011-12 2012-13 2013-14$

1 2 3 4 5

Stock Exchanges (Cash Market) 19 19 20 20Stock Exchanges (Derivatives Market) 2 2 3 3Stock Exchanges (Currency Derivatives) 4 4 3 3Brokers (Cash Segment)* 10,203 10,268 10,128 9,636Corporate Brokers (Cash Segment)** 4,774 4,877 5,113 5,030Brokers (Equity Derivative) 2,111 2,337 2,957 3,052Brokers (Currency Derivatives) 2,008 2,173 2,330 2,356

Sub-brokers (Cash Segment) 83,808 77,141 70,242 66,042

Foreign Institutional Investors 1,722 1,765 1,757 1,755Sub-accounts 5,686 6,322 6,335 6,423Custodians 17 19 19 19Depositories 2 2 2 2Depository Participants of NSDL & CDSL 805 854 871 863Qualifi ed Depository Participants of NSDL & CDSL NA NA 59 62Merchant Bankers 192 200 198 199Bankers to an Issue 55 57 57 57Underwriters 3 3 3 3Debenture Trustees 29 31 31 31Credit Rating Agencies 6 6 6 6KYC Registration Agency (KRA) NA NA 5 5Venture Capital Funds 184 212 211 211Foreign Venture Capital Investors 153 174 182 188Alternative Investment Funds NA NA 42 68Registrars to an Issue & Share Transfer Agents 73 74 72 70Portfolio Managers 267 250 241 232Mutual Funds 51 49 52 52Collective Investment Schemes 1 1 1 1Approved Intermediaries (Stock Lending Schemes) 2 2 2 2STP (Centralised Hub) 1 1 1 1STP Service Providers 2 2 2 2

NA: Not Applicable

$ indicates as on July 31, 2013

** including brokers on Mangalore SE (9), Magadh SE (22)

* including brokers on Mangalore SE (57), Magadh SE (189).

Source : SEBI

946

AUGUST SEBI BULLETIN 2013T

ab

le 2

: C

om

pan

y-W

ise C

ap

ital

Rais

ed

th

rou

gh

Pu

bli

c a

nd

Rig

hts

Iss

ues

(Eq

uit

y)

du

rin

g J

uly

2013

S.N

o.

Nam

e o

f t

he I

ssu

er/

Co

mp

an

y

Date

of

Op

en

ing

Typ

e o

f

Issu

e

Typ

e o

f

Inst

rum

en

t

No

. o

f

Sh

are

s

Issu

ed

Face

Valu

e

(`)

Pre

miu

m

Valu

e

(`)

Issu

e

pri

ce

(`)

Siz

e o

f

Issu

e

(`c

rore

)

12

34

56

78

910

1M

oney

Mas

ters

Lea

sing

&

Fina

nce

Ltd

23-Ju

l-13

IPO

-SM

EE

quity

1336

000

105

152

2A

lacrit

y Se

curit

ies L

td29

-Jul-1

3IP

O-S

ME

Equ

ity60

0000

010

515

9

No

te:

All

th

e I

ssu

es

are

co

mp

iled

fro

m t

he P

rosp

ectu

s’ o

f I

ssu

er

Co

mp

an

ies

fi le

d w

ith

SE

BI.

So

urc

e:

SE

BI.

947


Table 3: Ratings Assigned to IPOs during July 2013

S.No. Name of the CompanyCredit Rating

Agencies

Rating

Assigned

1 2 3 4

1 Loha Ispaat Limited CARE IPO Grade 32 Bharat Business Channel Limited (Videocon D2H) Brickwork GRADE 3

Note : a) IPO grading is the grade assigned by a Credit Rating Agency (CRA) registered with SEBI.

b) The IPO grading is assigned on a fi ve point scale from 1 to 5 with an “IPO Grade 5” indicating strong

fundamentals..and an “IPO Grade 1” indicating poor fundamentals.

Source: Credit Rating Agencies.

948


Table 4 : Open Offers under SEBI Takeover Code closed during July 2013

S.No. Target Company Acquirer

Offer

Opening

Date

Offer

Closing

Date

Offer SizeOffer

Price

(`) per

share

No. of

Shares

Percent

of

Equity

Capital

1 2 3 4 5 6 7 8

1 ZENITH CAPITAL LTD. MANSA DEVELOPERS PVT.LTD. 18-Jun-13 1-Jul-13 487550 25.39 54

2 ZODIAC VENTUES LTD. MR. RAMEHS V. SHAH 18-Jun-13 1-Jul-13 632500 16.96 30

3 COMFORT FINCAP LTD. LAHARUKA COMMOTRADE PVT.LTD 19-Jun-13 8-Jul-13 2170260 20 22

4HINDUSTAN UNILEVER

LTD. UNILEVER PLC 21-Jun-13 4-Jul-13 487004772 22.52 600

5TAK MACHINERY &

LEASING LTD. MR. MEGHRAJ JAIN &MR.

AJIT JAIN 28-Jun-13 11-Jul-13 410553 29.14 220

6 ASTER SILICATES LTD. SICOM INVT.AND FINANCE LTD. 2-Jul-13 15-Jul-13 6116922 26 12.64

7 INLAND PRINTERS LTD. TIGERSTONE TRADING PVT.LTD. 2-Jul-13 15-Jul-13 1921530 26 3

8SEASONS FURNISHINGS

LIMITED

MR.MANDEEP SINGH WADHWA&MRS.MANJIT

KUMAR WADHWA2-Jul-13 15-Jul-13 1922414 26 10

9RAAJ MEDISAFE INDIA

LTD. SUSHEN REMEDIES PVT.

LTD. 11-Jul-13 24-Jul-13 1310400 26 1.7

10IB INFOTECH

ENTERPRISES LTD. SMT.RITA RAJKUMAR

SINGH 12-Jul-13 25-Jul-13 158790 26 10

Source : SEBI.

949


ab

le 5

: C

ap

ital

Rais

ed

fro

m t

he P

rim

ary

Mark

et

thro

ug

h P

ub

lic a

nd

Rig

hts

Iss

ues

Year/

Mo

nth

To

tal

Cate

go

ry-w

ise

Issu

e-t

yp

eIn

stru

men

t-w

ise

Pu

bli

cR

igh

ts L

iste

dIP

Os

Eq

uit

ies

CC

PS

/F

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s*D

ebt

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Par

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m

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ou

nt

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)

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e

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ou

nt

(` c

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)

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e

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ou

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(` c

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)

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ou

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)

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ou

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(` c

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)

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e

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ou

nt

(` c

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)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

No

. o

f

issu

e

Am

ou

nt

(` c

rore

)

12

34

56

78

910

1112

1314

1516

1718

19

2008-0

947

16,2

20

22

3,5

82

25

12,6

37

25

12,6

37

22

3,5

82

596

40

14,1

76

1448

11,

500

2009-1

076

57,5

55

47

49,2

36

29

8,3

1934

30,3

59

42

27,1

96

19

71

54,8

66

118

03

2,5

00

2010

-11

91

67,6

09

68

58,1

05

23

9,5

03

28

32,0

49

63

35,5

59

250

78

57,6

171

490

109,4

51

2011

-12

71

48,4

68

55

46,0

93

162,3

75

176,9

53

54

41,

515

410

447

12,7

53

00

20

35,6

11

2012

-13

69

32,4

55

51

15,9

42

168,9

45

34

18,3

59

33

6,5

28

106,1

76

39

9,2

97

00

20

16,9

82

2013

-14$

92,2

57

81,

841

1416

31,

302

6955

16

61,

365

00

2886

Apr

-13

113

41

134

00

113

40

00

00

00

01

134

May

-13

392

83

928

00

00

392

81

62

922

00

00

Jun-

132

432

116

141

61

416

116

00

243

20

00

0Ju

l-13

376

33

763

00

175

22

110

02

110

01

752

$ i

nd

icate

s as

on

Ju

ly 3

1, 2

013

No

te:

T

he t

ota

l p

rovid

es

cate

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ry-w

ise t

ota

l o

f a

ny o

f t

he t

hre

e s

ub

-cate

go

ries

viz

. p

ub

lic p

lus

rig

hts

or

issu

er-

typ

e(l

iste

d p

lus

ipo

s) o

r in

stru

men

t-

wis

e(e

qu

itie

s p

lus

CC

PS

/F

CD

s p

lus

deb

t)

* C

CP

S:

Co

mp

uls

ory

Co

nve

rtib

le P

refe

ren

ce S

hare

s, F

CD

s: F

ull

y C

on

vert

ible

Deb

en

ture

s

Am

ou

nt

for

pu

bli

c d

ebt

issu

e f

or

last

tw

o m

on

ths

is p

rovis

ion

al

All

th

e I

ssu

es

are

co

mp

iled

fro

m t

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ectu

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f I

ssu

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Co

mp

an

ies

fi le

d w

ith

SE

BI.

So

urc

e :

SE

BI.

950


Table 5A: Issues Listed on SME Platform

Year/Month Total

No. of issue Amount (` crore)

1 2 3

2012-13 24 239

2013-14$ 5 36

Apr-13 0 0

May-13 2 9

Jun-13 1 16

Jul-13 2 11

Source : SEBI

951


Table 6: Industry-wise Classifi cation of Capital Raised through Public and Rights Issues

Industry 2010-11 2011-12 2012-13 2013-14$ Jul-13

No. of

issue

Amount

(`crore)

No. of

issue

Amount

(`crore)

No. of

issue

Amount

(`crore)

No. of

issue

Amount

(`crore)

No. of

issue

Amount

(`crore)

1 2 3 4 5 6 7 8 9 10 11

Banking/FIs 18 17,248 20 35,611 7 2,475 0 0 0 0

Cement & Construction 3 2,841 2 187 1 9 0 0 0 0

Chemical 5 247 0 0 1 9 0 0 0 0

Electronics 0 0 1 121 0 0 0 0 0 0

Engineering 5 1,394 1 217 2 74 0 0 0 0

Entertainment 4 715 1 89 1 12 1 3 0 0

Finance 3 2,210 10 7,708 16 16,536 5 903 3 763

Food Processing 1 1,245 0 0 2 19 0 0 0 0

Health Care 3 292 1 65 2 210 0 0 0 0

Information Technology 1 170 2 138 1 4 0 0 0 0

Paper & Pulp 0 0 2 306 0 0 0 0 0 0

Plastic 0 0 1 11 0 0 0 0 0 0

Power 4 9,469 0 0 0 0 0 0 0 0

Printing 1 52 2 71 0 0 0 0 0 0

Telecommunication 0 0 0 0 1 4,173 0 0 0 0

Textile 3 207 0 0 4 582 0 0 0 0

Others 40 31,519 28 3,943 31 8,352 3 1,351 0 0

Total 91 67,609 71 48,468 69 32,455 9 2,257 3 763

Note: All the public debt issues are included in Banking/Finance


Source : SEBI.

952


ab

le 7

: S

ecto

r-w

ise a

nd

Reg

ion

-wis

e D

istr

ibu

tio

n o

f C

ap

ital

Mo

bil

ised

th

rou

gh

Pu

bli

c a

nd

Rig

hts

Iss

ues

Year/

Mo

nth

To

tal

Secto

r-w

ise

Reg

ion

-wis

e

Pri

vate

Pu

bli

c N

ort

hern

East

ern

West

ern

So

uth

ern

Fo

reig

n

No

.

of

issu

e

Am

ou

nt

(`cro

re)

No

.

of

issu

e

Am

ou

nt

(`cro

re)

No

.

of

issu

e

Am

ou

nt

(`cro

re)

No

.

of

issu

e

Am

ou

nt

(`cro

re)

No

.

of

issu

e

Am

ou

nt

(`cro

re)

No

.

of

issu

e

Am

ou

nt

(`cro

re)

No

.

of

issu

e

Am

ou

nt

(`cro

re)

No

.

of

issu

e

Am

ou

nt

(`cro

re)

12

34

56

78

910

1112

1314

1516

17

2008-0

947

16,2

20

47

16,2

20

00

62,9

02

5315

21

11,2

02

151,

800

00

2009-1

076

57,5

55

70

26,4

38

631,

117

1724,7

1410

4,1

75

36

15,7

96

1312

,870

00

2010

-11

91

67,6

09

77

29,3

85

1438,2

23

20

16,3

56

817

,190

35

21,

479

27

10,0

97

12,4

87

2011

-12

71

48,4

68

62

19,8

74

928,5

94

20

35,5

46

5225

25

5,8

1721

6,8

80

00

2012

-13

69

32,4

55

55

17,6

90

1414

,765

25

25,7

81

398

30

4,4

99

112,0

77

00

2013

-14$

92,2

57

92,2

57

00

222

2550

3930

2755

00

Apr

-13

113

41

134

00

00

113

40

00

00

0

May

-13

392

83

928

00

16

00

191

91

30

0

Jun-

132

432

243

20

01

161

416

00

00

00

Jul-1

33

763

376

30

00

00

02

111

752

00

Th

e t

ota

l is

eit

her

a t

ota

l o

f S

ecto

r-w

ise c

lass

ifi c

ati

on

or

Reg

ion

-wis

e c

lass

ifi c

ati

on

.

$ i

nd

icate

s as

on

Ju

ly 3

1, 2

013

So

urc

e :

SE

BI.

953


ab

le 8

: S

ize-w

ise C

lass

ifi c

ati

on

of C

ap

ital

Rais

ed

th

rou

gh

Pu

bli

c a

nd

Rig

hts

Iss

ues

Year/

Mo

nth

To

tal

< 5

cro

re≥

5cro

re -

< 1

0cro

re ≥

10 c

rore

- <

50

cro

re

≥ 5

0 c

rore

- <

100

cro

re ≥

100 c

rore

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

issu

eA

mou

nt

(`cr

ore)

No.

of

is

sue

Am

oun

t (`

cror

e)

No.

of

is

sue

Am

oun

t (`

cror

e)

No.

of

is

sue

Am

oun

t (`

cror

e)

12

34

56

78

910

1112

13

2008-0

947

16,2

20

13

17

21

509

6445

1815

,255

2009-1

076

57,5

55

12

324

18596

9636

45

56,2

98

2010

-11

91

67,6

09

12

211

13455

20

1,406

55

65,7

35

2011

-12

71

48,4

68

29

214

18510

141,

018

35

46,9

16

2012

-13

69

32,4

55

27

1386

15290

6440

33

31,

632

2013

-14$

92,2

57

25

215

116

00

42,2

21

Apr

-13

113

40

00

00

00

01

134

May

-13

392

81

31

60

00

01

919

Jun-

132

432

00

00

116

00

141

6Ju

l-13

376

31

21

90

00

01

752

$ i

nd

icate

s as

on

Ju

ly 3

1, 2

013

So

urc

e :

SE

BI.

954


Table 9 : Capital Raised by Listed Companies from the Primary Market through QIPs

Year/Month

NSE BSE Common Total

No. of

issues

Amount

(`crore)

No. of

issues

Amount

(`crore)

No. of

issues

Amount

(`crore)

No. of

issues

Amount

(`crore)

1 2 3 4 5 6 7 8 9

2010-11 10 2,802 3 90 46 22,959 59 25,850

2011-12 1 8 1 40 14 1 2,114 16 1 2,163

2012-13 1 950 1 160 43 2 14,885 45 2 15,996

2013-14$ 1 160 0 0 12 3 5,044 13 3 5,203

Apr-13 1 160 0 0 3 3 227 4 3 387May-13 0 0 0 0 5 4 2,833 5 4 2,833Jun-13 0 0 0 0 2 5 1,066 2 1,066Jul-13 0 0 0 0 2 6 918 2 918

Note : 1. The above data includes both “no. of issues” and “Amount” raised on conversion of convertible securities issued on QIP

basis.1 Includes one issue of Institutional Placement Programme (Issue Size of ` 470.74 crore).2 Includes two issues of Institutional Placement Programme (Issue Size of ` 940.8 crore).3 Includes rwo issues of Institutional Placement Programme (Issue Size of ` 156.77 crore).4 Includes four issue of Institutional Placement Programme (Issue Size of ` 2561.47 crore).5 Includes two issue of Institutional Placement Programme (Issue Size of ` 1066 crore).6 Includes two issue of Institutional Placement Programme (Issue Size of ` 37.05 crore).


Source : BSE and NSE.

955


Table 10 : Preferential Allotments Listed at BSE and NSE

Year/

Month


No. of

issues

Amount

(`crore)

No. of

issues

Amount

(`crore)

No. of

issues

Amount

(`crore)

No. of

issues

Amount

(`crore)

1 2 3 4 5 6 7 8 9

2010-11 83 1,393 156 12,072 134 17,046 373 30,511

2011-12 133 2,820 88 4,166 90 18,723 311 25,709

2012-13 188 7,442 87 12,729 145 26,768 420 46,939

2013-14$ 80 1,612 5 129 68 27,756 153 29,498

Apr-13 21 659 3 42 13 11,143 37 11,844May-13 24 403 0 0 32 3,767 56 4,170Jun-13 20 179 0 0 13 11,699 33 11,878Jul-13 15 371 2 88 10 1,147 27 1,605


Source : BSE and NSE.

956


Table 11: Private Placement of Corporate Debt Reported to BSE and NSE


Year/MonthNo. of

Issues

Amount

(`crore)

No. of

Issues

Amount

(`crore)

No. of

Issues

Amount

(`crore)

No. of

Issues

Amount

(`crore)

1 2 3 4 5 6 7 8 9

2007-08 580 90,718 120 11,711 44 16,056 744 1,18,485

2008-09 699 1,24,810 285 17,045 57 31,426 1,041 1,73,281

2009-10 647 1,43,286 597 49,739 34 19,610 1,278 2,12,635

2010-11 774 1,53,370 591 52,591 39 12,825 1,404 2,18,785

2011-12 1,152 1,89,803 783 56,974 18 14,505 1,953 2,61,282

2012-13 1,295 2,06,187 1,094 72,474 100 82,801 2,489 3,61,462

2013-14$ 387 61,480 378 37,640 40 23,847 805 1,22,967

Apr-13 78 19,134 114 11,298 14 11,380 206 41,812May-13 112 17,651 113 8,788 11 7,320 236 33,759Jun-13 149 20,145 67 10,282 6 4,787 222 35,214Jul-13 48 4,549 84 7,273 9 360 141 12,182


Source: SEBI

957


Table 12: Distribution of Turnover on Cash Segments of Exchanges (`crore)

Stock Exchanges 2010-11 2011-12 2012-13 2013-14$ Jul-13

1 2 3 4 5 6

Ahmedabad Nil Nil Nil Nil Nil

Bangalore Nil Nil Nil Nil Nil

Bhubaneshwar Nil Nil Nil Nil Nil

BSE 11,05,027 6,67,498 5,48,774 1,68,889 41,535

Calcutta 2,597 5,991 Nil Nil Nil

Cochin Nil Nil Nil Nil Nil

Coimbatore Nil Nil Nil Nil Nil

Delhi Nil Nil Nil Nil Nil

Gauhati Nil Nil Nil Nil Nil

ISE Nil Nil Nil Nil Nil

Jaipur Nil Nil Nil Nil Nil

Ludhiana Nil Nil Nil Nil Nil

Madhya Pradesh Nil Nil Nil Nil Nil

Madras Nil Nil Nil Nil Nil

MCX-SX NA NA 33 6,183 1041.4

NSE 35,77,410 28,10,893 27,08,279 9,06,524 2,43,390

OTCEI Nil Nil Nil Nil Nil

Pune Nil Nil Nil Nil Nil

Uttar Pradesh Nil Nil Nil Nil Nil

Vadodara Nil Nil Nil Nil Nil

Note: Cash segment of MCX-SX commenced its operations from Feb 11, 2013.

NA: Not Applicable


Source: Various Exchanges.

958


ab

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3:

Cash

Seg

men

t o

f B

SE

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Mo

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f

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42

7,3

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87

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244

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1917

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19811

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1176

2,8

67

250

3,2

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5,6

7,2

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5,4

8,7

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20203.7

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-14$

5,2

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1,46,5

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1,68,8

89

1,964

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-13

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720

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135,

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932,

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1986

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1939

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35,

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2334

337

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3021.

0

2009-1

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244

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30

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23

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73

5329.6

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-11

1,574

61

1,450

255

15,5

07

18,2

4,5

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1014

,029

23,0

70

18,2

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2,6

166338.5

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5833.8

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-12

1,646

73

1,533

249

14,3

77

16,1

6,9

78

28,1

0,8

93

11,2

89

19,5

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6,9

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0,8

93

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6,5

185944.5

4531.

25295.6

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-13

1,666

76

1,542

250

13,6

05

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9,1

60

27,0

8,2

79

10,8

33

19,9

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79

62,3

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611

1.8

4770.4

5682.6

2013

-14$

1,672

76

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86

4,7

56

4,9

5,2

169,0

6,5

24

10,5

41

19,0

60

4,9

5,2

169,0

6,5

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60,9

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79

6229.5

5477.2

5742.0

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-13

1,67

175

1,53

620

1,10

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482,

10,7

9910

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482,

10,7

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373

5962

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77.2

5930

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-13

1,67

375

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852,

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9210

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251,

28,7

852,

44,3

9265

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227

6229

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11.0

5986

.0

Jun-

131,

673

761,

509

201,

124

1,15

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2,07

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10,3

9718

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1,15

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2,07

,944

62,4

8,44

260

11.0

5566

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42.2

Jul-1

31,

672

761,

516

231,

285

1,32

,750

2,43

,390

10,5

8218

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60,9

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2013

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May

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1-Ju

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1959

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1957

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l-13

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1,79

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1958

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1944

2.75

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3.82

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5844

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l-13

2,41

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1,87

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923

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601,

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363

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1934

7.11

1914

7.31

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7.76

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1,67

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865

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1944

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0.84

5825

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5767

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l-13

2,44

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1,52

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764

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1964

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1947

7.74

1949

5.82

5883

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5832

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l-13

2,39

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1,53

41,

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381,

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1,55

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1942

2.69

1918

5.92

1932

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l-13

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1948

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1938

0.25

1943

9.48

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5822

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l-13

2,42

814

1,59

31,

620

11,2

881,

593

1,62

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,95,

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1950

5.93

1923

7.91

1929

4.12

5872

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5794

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5811

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11-Ju

l-13

2,44

713

1,37

31,

433

11,0

581,

373

1,43

364

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1972

3.51

1946

8.46

1967

6.06

5933

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5865

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5916

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12-Ju

l-13

2,41

913

1,41

31,

558

11,9

471,

413

1,55

865

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459

1999

1.94

1978

5.59

1995

8.47

5989

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5933

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5982

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15-Ju

l-13

2,41

314

1,79

81,

655

11,9

231,

798

1,65

565

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985

2007

2.44

1988

3.19

2003

4.48

6023

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5964

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6017

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1,68

91,

888

12,6

281,

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1989

0.63

1964

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1985

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317

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035

11,9

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565

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1998

3.22

1977

8.54

1994

8.73

5980

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5907

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l-13

2,45

716

1,66

71,

905

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451,

667

1,90

565

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580

2017

6.90

1995

6.20

2012

8.41

6031

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5958

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6019

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l-13

2,45

716

1,47

71,

929

11,9

971,

477

1,92

965

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714

2025

6.60

2011

1.13

2014

9.85

6045

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5998

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6008

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22-Ju

l-13

2,38

813

1,44

61,

651

12,6

511,

446

1,65

165

,91,

617

2026

4.90

2006

5.69

2015

9.12

6039

.74

5987

.11

6006

.97

23-Ju

l-13

2,43

814

1,81

41,

632

11,7

681,

814

1,63

266

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453

2035

1.06

2024

9.98

2030

2.13

6067

.37

6032

.62

6049

.89

24-Ju

l-13

2,38

715

1,61

11,

862

12,1

951,

611

1,86

265

,54,

117

2025

2.70

1999

4.25

2009

0.68

6021

.49

5935

.59

5962

.24

25-Ju

l-13

2,41

115

1,58

72,

144

13,8

511,

587

2,14

464

,79,

662

2011

0.81

1976

3.90

1980

4.76

5962

.46

5875

.20

5884

.34

26-Ju

l-13

2,39

317

1,91

52,

101

12,2

501,

915

2,10

164

,34,

168

1990

7.45

1969

9.76

1974

8.19

5919

.01

5833

.02

5855

.45

29-Ju

l-13

2,34

614

1,49

51,

759

12,2

661,

495

1,75

963

,67,

883

1975

1.03

1957

0.87

1959

3.28

5850

.80

5794

.54

5800

.19

30-Ju

l-13

2,38

115

1,49

91,

753

11,6

491,

499

1,75

362

,56,

882

1967

2.72

1932

8.54

1934

8.34

5822

.43

5706

.75

5713

.55

31-Ju

l-13

2,33

919

1,84

52,

373

12,6

811,

845

2,37

362

,63,

106

1938

7.50

1912

6.82

1934

5.70

5717

.23

5630

.83

5707

.16

So

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BS

E

962


ab

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7:

Tre

nd

s in

Cash

Seg

men

t o

f N

SE

du

rin

g J

uly

2013

Date

No

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f

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Tra

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No

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1,41

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206,

169

10,2

5463

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184

5904

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5822

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5898

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1190

5.55

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0.50

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1.85

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6,08

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18,3

526,

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10,3

7763

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359

5898

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5852

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5857

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1196

4.85

1179

4.10

1180

8.05

3-Ju

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1,41

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6,24

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17,1

776,

240

10,2

1462

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489

5815

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5760

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5770

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1175

4.65

1158

8.05

1161

3.30

4-Ju

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1,39

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6,58

310

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18,8

636,

583

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5848

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5786

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5836

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1174

0.10

1158

7.45

1167

2.75

5-Ju

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1,40

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4,88

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18,1

564,

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8,23

962

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5900

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8,99

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5833

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5775

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6.50

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1.30

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6038

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6051

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6066

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6064

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6047

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1.75

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5,84

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8:

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t o

f M

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2013

Date

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966


Table 21: Categorywise Share of Turnover in Cash Segment of BSE

MonthPercentage Share in Turnover

Proprietary FII Mutual Funds Banks Others

Jan-12 22.45 6.15 2.51 0.11 68.78

Feb-12 23.99 6.89 2.02 0.16 66.94

Mar-12 21.16 11.81 1.86 0.10 65.07

Apr-12 23.46 6.84 2.66 0.09 66.95

May-12 25.67 6.50 1.92 0.10 65.81

Jun-12 23.27 9.64 2.80 0.12 64.17

Jul-12 22.88 10.14 2.12 0.11 64.75

Aug-12 23.85 7.63 2.79 0.11 65.62

Sep-12 21.96 7.89 2.66 0.13 67.36

Oct-12 23.40 8.98 2.30 0.08 65.24

Nov-12 23.20 11.44 1.97 0.09 63.30

Dec-12 23.66 8.79 2.21 0.12 65.22

Jan-13 24.56 7.85 2.96 0.13 64.50

Feb-13 25.64 12.47 2.00 0.09 59.80

Mar-13 25.20 12.68 1.75 0.08 60.29

Apr-13 25.80 12.00 1.84 0.05 60.31

May-13 19.27 12.07 2.17 0.06 66.43

Jun-13 20.03 15.52 2.46 0.02 61.97

Jul-13 21.20 11.13 3.19 0.06 64.42

Source: BSE.

967


Table 22: Categorywise Share of Turnover in Cash Segment of NSE

MonthPercentage Share in Turnover

Proprietary FII Mutual Funds Banks Others

Jan-12 24.92 18.48 4.54 0.47 51.59

Feb-12 24.43 18.71 4.72 0.36 51.79

Mar-12 25.85 19.33 4.07 0.31 50.44

Apr-12 25.18 17.67 4.52 0.31 52.32

May-12 24.86 20.39 4.17 0.31 50.28

Jun-12 24.58 17.99 4.41 0.43 52.58

Jul-12 23.34 18.43 4.66 0.44 53.13

Aug-12 23.28 19.29 4.88 0.47 52.08

Sep-12 21.38 22.22 5.22 0.47 50.71

Oct-12 24.05 18.51 4.18 0.41 52.86

Nov-12 23.59 20.53 3.96 0.46 51.45

Dec-12 22.99 18.93 4.19 0.56 53.33

Jan-13 22.00 21.98 4.49 0.56 50.98

Feb-13 22.08 24.98 4.09 0.42 48.43

Mar-13 22.57 25.89 3.80 0.39 47.35

Apr-13 24.28 24.00 3.65 0.48 47.60

May-13 22.31 23.13 4.08 0.81 49.64

Jun-13 22.72 25.84 4.47 0.48 46.49

Jul-13 23.78 23.18 4.59 0.44 48.02

Source: NSE.

968


Table 23: Component Stocks: BSE S&P Sensex during July 2013

S.No. Name of Security

Issued

Capital

(` crore)

Free

FloatMarket

Capitalisation

(` crore)

Weightage

(Percent)Beta R2

Daily

Volatility

(Percent)

Monthly

Return

(Percent)

Impact

Cost

(Percent)

1 2 3 4 5 6 7 8 9 10

1 ITC LTD. 790.18 188976.29 11.42 0.71 0.18 1.41 5.32 0.062 RELIANCE 3236.49 155150.71 9.37 1.25 0.46 1.56 1.13 0.053 INFOSYS LTD 287.12 144826.81 8.75 0.76 0.08 2.30 19.01 0.044 HDFC 310.03 123935.51 7.49 1.14 0.38 1.57 -8.41 0.075 HDFC BANK 477.49 116450.13 7.04 1.07 0.49 1.29 -8.80 0.096 TCS LTD. 195.72 106576.55 6.44 0.46 0.08 1.35 19.54 0.057 ICICI BANK 1154.28 104958.43 6.34 1.46 0.53 1.70 -15.00 0.048 LARSEN & TOU 184.87 70416.79 4.25 1.43 0.46 1.79 -9.62 0.069 HIND UNI LT 216.18 66309.00 4.01 0.47 0.05 1.79 4.85 0.0610 ONGC CORPN 4277.75 62219.80 3.76 1.12 0.30 1.73 -12.06 0.0911 TATA MOTORS 547.32 55657.88 3.36 1.24 0.27 2.03 3.23 0.0712 BHARTI ARTL 1998.70 48254.62 2.92 1.02 0.15 2.19 18.36 0.1013 STATE BANK 684.03 46783.82 2.83 1.33 0.42 1.74 -12.48 0.0314 SUN PHARMA. 207.11 46728.18 2.82 0.45 0.07 1.45 11.86 0.1115 MAH & MAH 307.95 42133.97 2.55 1.00 0.27 1.62 -5.63 0.1116 DR.REDDY'S 84.97 29092.32 1.76 0.51 0.11 1.33 3.03 0.1017 BAJAJ AUTO 289.37 28006.39 1.69 0.74 0.18 1.50 0.95 0.1018 NTPC LTD 8245.46 26921.44 1.63 0.65 0.16 1.39 -9.12 0.3819 WIPRO LTD. 492.76 26935.58 1.63 0.49 0.05 1.88 25.01 0.1420 CIPLA LTD. 160.58 20925.54 1.26 0.55 0.11 1.43 2.43 0.1221 HEROMOTOCO 39.94 18163.58 1.10 0.58 0.12 1.43 9.44 0.2022 MARUTISUZUK 151.04 18040.07 1.09 0.78 0.16 1.66 -13.71 0.1023 COAL INDIA 6316.36 17777.41 1.07 0.61 0.15 1.34 -7.10 0.1424 GAIL (I) LTD 1268.48 15300.37 0.92 0.89 0.22 1.59 -3.66 0.2725 TATA STEEL 971.22 14664.38 0.89 1.38 0.42 1.80 -21.22 0.0826 TATA POWER 237.31 14609.82 0.88 0.97 0.26 1.61 2.21 0.2327 BHEL 489.52 13556.64 0.82 1.35 0.29 2.13 -9.21 0.1428 HINDALCO 191.86 12107.63 0.73 1.52 0.35 2.17 -9.62 0.1629 STERLITE IN 336.07 11410.45 0.69 1.46 0.34 2.12 -9.64 0.2330 JINDAL STE 93.48 8396.68 0.51 1.53 0.24 2.61 -8.15 0.17

Total 1,655,286.8 100.0 0.12

* Beta & R2 are calculated for the period Aug-12 to July-13 .Beta measures the degree to which any portfolio of stocks is

affected as compared to the effect on the market as a whole.

* The coeffi cient of determination (R2) measures the strength of relationship between two variables the return on a

security versus that of the market.

* Volatility is the standard deviation of the daily returns for the period Aug-12 to July-13

* Impact cost is calculated as the difference between actual buy price and ideal buy price, divided by ideal buy price,

multiplied by 100. Hence ideal price is calculated as (best buy + best sell)/2.

* The above is calculated for a month for the portfolio size of Rs. 5 lakh. It is calculated for the month of June-2013

Source: BSE.

969


Table 24: Component Stocks : CNX Nifty Index during July 2013

S.No. Name of Security

Issued

Capital

(` crore)

Free Float

Market

Capitalisation

(` crore)

Weightage

(Percent)Beta R2

Daily

Volatility

(Percent)

Monthly

Return

(Percent)

Impact

Cost

(Percent)

1 2 3 4 5 6 7 8 9 101 I T C Ltd. 790.2 187,551.0 10.3 0.7 0.2 1.9 5.4 0.062 Infosys Ltd. 287.1 143,182.0 7.8 0.6 0.1 2.5 18.8 0.043 Reliance Industries Ltd. 3,229.4 143,163.0 7.8 1.2 0.5 1.6 1.1 0.064 Housing Development Finance Corporation Ltd. 310.8 124,400.0 6.8 1.2 0.4 1.8 -8.9 0.065 HDFC Bank Ltd. 477.6 112,373.0 6.2 1.1 0.5 1.8 -8.9 0.076 ICICI Bank Ltd. 1,153.8 104,888.0 5.7 1.5 0.6 1.8 -15.1 0.057 Tata Consultancy Services Ltd. 195.7 92,531.0 5.1 0.4 0.1 1.7 19.6 0.068 Larsen & Toubro Ltd. 184.9 68,838.0 3.8 1.5 0.5 2.4 -9.7 0.079 Tata Motors Ltd. 547.3 51,905.0 2.8 1.2 0.3 2.0 3.3 0.0610 Oil & Natural Gas Corporation Ltd. 4,277.7 51,437.0 2.8 1.1 0.3 2.4 -12.2 0.0711 State Bank of India 684.0 44,041.0 2.4 1.4 0.5 1.9 -12.6 0.0512 Hindustan Unilever Ltd. 216.2 43,335.0 2.4 0.5 0.1 2.8 4.7 0.0613 Sun Pharmaceutical Industries Ltd. 207.1 42,522.0 2.3 0.4 0.1 1.6 11.8 0.0714 Mahindra & Mahindra Ltd. 307.9 41,995.0 2.3 1.0 0.3 1.7 -6.1 0.0515 Bharti Airtel Ltd. 1,998.7 41,063.0 2.3 0.9 0.1 2.4 18.1 0.0716 Axis Bank Ltd. 468.8 32,067.0 1.8 1.5 0.4 2.7 -21.9 0.0717 Dr. Reddy's Laboratories Ltd. 85.0 28,865.0 1.6 0.5 0.1 1.9 2.8 0.0518 NTPC Ltd. 8,245.5 26,942.0 1.5 0.7 0.2 1.9 -9.1 0.0719 Bajaj Auto Ltd. 289.4 25,964.0 1.4 0.7 0.2 1.5 0.6 0.0620 Kotak Mahindra Bank Ltd. 383.6 25,349.0 1.4 1.1 0.4 2.4 -9.7 0.0721 HCL Technologies Ltd. 139.3 24,827.0 1.4 0.5 0.1 1.7 20.8 0.0422 Asian Paints Ltd. 95.9 22,988.0 1.3 0.6 0.2 1.7 9.5 0.1023 Lupin Ltd. 89.5 20,737.0 1.1 0.4 0.1 1.7 11.5 0.0524 Cipla Ltd. 160.6 20,313.0 1.1 0.6 0.1 1.1 2.1 0.0625 UltraTech Cement Ltd. 274.2 18,628.0 1.0 0.7 0.2 1.4 -2.2 0.0626 Coal India Ltd. 6,316.4 17,784.0 1.0 0.6 0.1 1.7 -6.9 0.0527 Maruti Suzuki India Ltd. 151.0 17,546.0 1.0 0.8 0.2 1.7 -13.8 0.0628 Cairn India Ltd. 1,910.3 17,454.0 1.0 0.7 0.2 1.6 1.8 0.0629 Hero MotoCorp Ltd. 39.9 17,362.0 1.0 0.6 0.1 1.7 9.4 0.0730 Grasim Industries Ltd. 91.8 16,822.0 0.9 0.7 0.3 1.1 -4.1 0.0831 IndusInd Bank Ltd. 523.3 16,402.0 0.9 1.4 0.4 3.1 -17.1 0.0732 Tata Steel Ltd. 971.2 14,381.0 0.8 1.4 0.4 1.9 -21.2 0.0733 Power Grid Corporation of India Ltd. 4,629.7 14,313.0 0.8 0.7 0.2 1.7 -9.2 0.0634 Tata Power Co. Ltd. 237.3 14,110.0 0.8 1.0 0.3 2.0 2.0 0.0835 GAIL (India) Ltd. 1,268.5 13,529.0 0.7 0.9 0.2 1.8 -3.9 0.0836 IDFC Ltd. 1,515.0 13,540.0 0.7 1.7 0.4 3.3 -14.6 0.0737 Ambuja Cements Ltd. 308.8 12,777.0 0.7 1.0 0.2 3.0 -10.4 0.0738 Bharat Heavy Electricals Ltd. 489.5 12,506.0 0.7 1.4 0.3 3.1 -9.2 0.0739 Hindalco Industries Ltd. 191.5 11,589.0 0.6 1.5 0.4 2.9 -9.7 0.0840 ACC Ltd. 187.7 10,951.0 0.6 0.8 0.3 1.4 -4.0 0.0741 Bank of Baroda 421.3 10,549.0 0.6 1.5 0.4 3.1 -2.2 0.0742 Bharat Petroleum Corporation Ltd. 723.1 8,367.0 0.5 1.0 0.2 2.7 -11.8 0.0743 Punjab National Bank 353.5 8,489.0 0.5 1.6 0.4 2.7 -12.4 0.0744 Jindal Steel & Power Ltd. 93.5 7,644.0 0.4 1.5 0.3 2.4 -8.1 0.0945 NMDC Ltd. 396.5 7,761.0 0.4 1.0 0.3 1.9 -7.2 0.0846 DLF Ltd. 355.9 5,711.0 0.3 2.0 0.4 3.0 -17.4 0.0747 Sesa Goa Ltd. 86.9 4,986.0 0.3 1.5 0.4 3.0 -10.5 0.0948 Reliance Infrastructure Ltd. 263.0 4,623.0 0.3 2.1 0.5 2.9 -2.2 0.0849 Jaiprakash Associates Ltd. 443.8 4,433.0 0.2 2.4 0.5 3.9 -32.6 0.0950 Ranbaxy Laboratories Ltd. 211.6 4,422.0 0.2 0.8 0.1 2.7 -7.3 0.07

Total 1,827,955.0 100.0 0.07

* Beta & R2 are calculated for the period 01-Aug-2012 to 31-Jul-2013* Beta measures the degree to which any portfolio of stocks is affected as compared to the effect on the market as a whole.* The coeffi cient of determination (R2) measures the strength of relationship between two variables the return on a security versus

that of the market.* Volatility is the Std. deviation of the daily returns for the period 01-Jul-2013 to 31-Jul-2013* Last day of trading was 31-Jul-2013* Impact Cost for CNX Nifty is for a portfolio of ` 50 Lakhs* Impact Cost for CNX Nifty is the weightage average impact cost

970


Table 25: Advances/Declines in Cash Segment of BSE, NSE and MCX-SX

Month

BSE NSE MCX-SX

Advances Declines

Advance

/ Decline

Ratio

Advances Declines

Advance

/ Decline

Ratio

Advances Declines

Advance

/ Decline

Ratio

1 2 3 4 5 6 7 8 9 10

Oct-11 975 2,332 0.4 405 1,125 0.4

NA

Nov-11 937 2,385 0.4 390 1,152 0.3

Dec-11 522 2,802 0.2 140 1,405 0.1

Jan-12 2,301 1,021 2.3 1,195 359 3.3

Feb-12 2,617 756 3.5 1,403 151 9.3

Mar-12 1,103 2,310 0.5 452 1,106 0.4

Apr-12 1,517 1,885 0.8 681 883 0.8

May-12 888 2,469 0.4 284 1,274 0.2

Jun-12 1,395 1,953 0.7 697 861 0.8

Jul-12 2,172 1,199 1.8 1,166 395 3.0

Aug-12 1,178 2,226 0.5 510 1,054 0.5

Sep-12 1,723 1,692 1.0 894 673 1.3

Oct-12 2,295 1,139 2.0 1,223 345 3.5

Nov-12 1,414 2,014 0.7 640 930 0.7

Dec-12 1,904 1,522 1.3 989 587 1.7

Jan-13 1,514 1,495 1.0 743 837 0.9

Feb-13 702 2,278 0.3 174 1,400 0.1 31 39 0.8

Mar-13 648 2,814 0.2 193 1,378 0.1 15 38 0.4

Apr-13 1,184 2,196 0.5 521 1,045 0.5 29 30 1.0

May-13 1,638 1,613 1.0 729 594 1.2 5 49 0.1

Jun-13 933 2,245 0.4 242 1,081 0.2 45 7 6.4

Jul-13 1,156 2,006 0.6 427 901 0.5 29 33 0.9

NA : Not Applicable

Note: 1. Advance/Decline is calculated based on the average price methodology.

2. Cash segment of MCX-SX commenced its operations from Feb 11, 2013.

Source: BSE, NSE and MCX-SX.

971


Table 26: Trading Frequency in Cash Segment of BSE, NSE and MCX-SX

Month

BSE NSE MCX-SX

No. of

Companies

Listed

No. of

companies

Traded

Percent of

Traded to

Listed

No. of

Companies

Listed

No. of

companies

Traded

Percent of

Traded to

Listed

No. of

Companies

Listed *

No. of

companies

Traded

Percent of

Traded to

Listed

1 2 3 4 5 6 7 8 9 10

Apr-11 5,069 2,977 58.7 1,578 1,453 92.1

NA

May-11 5,078 2,924 57.6 1,585 1,463 92.3Jun-11 5,085 2,968 58.4 1,599 1,474 92.2Jul-11 5,096 2,976 58.4 1,606 1,478 92.0Aug-11 5,086 2,921 57.4 1,615 1,489 92.2Sep-11 5,092 2,851 56.0 1,622 1,495 92.2Oct-11 5,102 2,934 57.5 1,631 1,510 92.6Nov-11 5,105 2,832 55.5 1,633 1,512 92.6Dec-11 5,112 2,896 56.7 1,640 1,520 92.7Jan-12 5,115 2,931 57.3 1,641 1,520 92.6Feb-12 5,122 3,010 58.8 1,644 1,523 92.6Mar-12 5,133 2,977 58.0 1,646 1,533 93.1Apr-12 5,133 2,853 55.6 1,649 1,529 92.7May-12 5,140 2,694 52.4 1,651 1,530 92.7Jun-12 5,141 2,952 57.4 1,648 1,532 93.0Jul-12 5,149 2,835 55.1 1,652 1,532 92.7Aug-12 5,157 2,903 56.3 1,652 1,535 92.9Sep-12 5,163 3,010 58.3 1,657 1,538 92.8Oct-12 5,171 2,903 56.1 1,660 1,541 92.8Nov-12 5,180 3,058 59.0 1,661 1,541 92.8Dec-12 5,191 2,986 57.5 1,665 1,546 92.9Jan-13 5,195 2,918 56.2 1,664 1,545 92.8Feb-13 5,197 2,895 55.7 1,665 1,542 92.6 1,118 71 6.4Mar-13 5,211 2,867 55.0 1,666 1,542 92.6 1,116 53 4.7Apr-13 5,224 2,447 46.8 1,587 1,536 96.8 1,089 59 5.4May-13 5,230 2,464 47.1 1,589 1,521 95.7 1,084 54 5.0Jun-13 5,241 2,478 47.3 1,589 1,509 95.0 1,081 52 4.8Jul-13 5,249 2,339 44.6 1,590 1,516 95.3 1,011 63 6.2

Note: Cash segment of MCX-SX commenced its operations from Feb 11, 2013.

NA : Not Applicable

*permitted to trade


972


Table 27: Volatility* of Major Indices

(Percent)

Year/ MonthBSE S&P

Sensex

BSE S&P 100

IndexBSE S&P 500 CNX Nifty

CNX Nifty

JuniorCNX 500 SX40

1 2 3 4 5 6 7 8

2007-08 1.9 2.0 2.0 2.0 2.4 2.0 –

2008-09 2.8 2.7 2.6 2.7 2.8 2.5 –

2009-10 1.9 1.8 1.8 1.9 2.0 1.8 –

2010-11 1.1 1.1 1.1 1.1 1.1 1.0 –

2011-12 1.3 1.3 1.2 1.3 1.3 1.2 –

2012-13 0.8 0.9 0.8 0.9 0.8 0.8 –

2013-14$ 1.1 1.1 1.0 1.1 1.1 1.0 1.0

Apr-13 1.0 1.0 0.9 1.0 0.9 0.9 0.9

May-13 1.1 1.1 1.0 1.2 0.9 1.1 1.0

Jun-13 1.2 1.2 1.2 1.2 1.2 1.2 1.2

Jul-13 1.0 1.1 1.0 1.0 1.2 1.0 0.9


* Volatility is calculated as the standard deviation of the natural log of daily returns in indices for the respective period.


973


Table 28: Percentage Share of Top ‘N’ Securities/Members in Turnover in Cash Segment

(Percent)

Year/ Month BSE NSE MCX-SX

Top 5 10 25 50 100 5 10 25 50 100 5 10 25 50 100

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Securities

2008-09 18.5 29.6 49.0 66.0 79.6 20.5 32.6 56.4 74.7 87.7

NA2009-10 15.3 22.2 35.3 47.8 62.4 13.7 23.0 41.0 58.5 74.4

2010-11 10.2 15.1 25.9 37.3 51.5 15.3 23.0 38.7 53.6 68.9

2011-12 16.6 25.3 40.1 54.2 69.1 17.2 27.1 44.3 59.8 75.7

2012-13 13.0 20.6 33.8 46.3 60.6 16.2 26.2 44.3 60.5 76.8 65.6 85.0 99.2 100.0 100.0

2013-14$ 16.5 25.7 43.3 56.8 71.5 18.8 30.3 51.4 68.8 84.0 42.2 59.2 86.0 99.9 100.0

Apr-13 16.2 25.4 41.3 53.9 68.1 18.8 30.3 51.4 68.8 84.0 61.9 83.1 98.0 100.0 100.0

May-13 20.6 29.5 45.8 59.1 73.2 15.5 26.6 46.5 64.4 81.7 45.6 59.3 88.2 99.9 100.0

Jun-13 18.1 26.9 44.5 59.3 74.0 16.7 28.5 50.5 67.8 84.5 40.6 58.7 85.3 100.0 100.0

Jul-13 16.1 26.4 44.9 59.2 74.5 16.4 29.0 51.7 69.8 86.0 46.0 59.6 82.4 98.1 100.0

Members

2008-09 14.3 21.7 38.2 55.8 73.3 13.6 23.6 43.6 61.2 75.4

NA2009-10 13.3 21.1 37.3 53.3 71.5 14.9 24.0 41.8 57.8 72.6

2010-11 13.3 21.6 36.6 51.9 70.2 14.3 23.8 42.9 58.6 73.0

2011-12 15.1 24.5 40.0 55.0 72.4 14.8 25.3 46.3 62.2 77.0

2012-13 14.5 22.3 38.5 54.7 71.5 14.3 24.7 46.7 63.1 77.2 85.4 94.2 98.2 99.6 100.0

2013-14$ 17.5 26.1 43.2 58.4 73.9 14.2 25.3 47.7 65.1 80.0 89.4 97.0 99.5 100.0 100.0

Apr-13 18.2 26.3 42.4 58.0 74.5 14.2 25.3 47.7 65.1 80.0 89.4 97.0 99.5 100.0 100.0

May-13 21.3 31.5 48.0 62.2 76.8 14.1 25.0 46.2 64.2 79.5 96.7 99.7 100.0 100.0 100.0

Jun-13 19.3 27.9 44.3 58.5 74.3 14.0 25.7 48.6 65.6 79.8 96.4 99.2 100.0 100.0 100.0

Jul-13 18.7 27.3 44.4 58.4 74.0 14.5 25.6 47.8 65.2 79.5 73.2 91.8 99.8 100.0 100.0

Note: 1) Cash segment of MCX-SX commenced its operations from Feb 11, 2013.

2) Data for Top N scrips has been compiled for all markets except Auction market & Retail Debt Market and includes series

EQ, BE,BT, BL and IL

NA: Not Applicable



974


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324

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01

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20

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321

118

625

8518

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1127

533

961

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00

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1347

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232

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l-13

2197

565

487

2920

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8029

820

661

612

10

30

6124

917

7269

2822

518

-Jul-1

320

819

624

8484

209

1098

133

226

314

778

120

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119

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319

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319

491

590

1037

526

524

6275

2000

460

39

08

052

349

1533

7641

251

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l-13

1845

155

786

5421

891

5227

979

9724

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015

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272

1297

1082

135

423

-Jul-1

320

465

621

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199

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228

9706

294

60

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4214

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471

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l-13

2633

479

110

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248

1222

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329

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867

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00

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333

936

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4497

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3059

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493

00

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5812

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tity

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in

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ber

2000,

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tem

ber

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Sep

tem

ber

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an

d

No

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2001,

resp

ecti

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en

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983


able

38:

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tlem

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Stat

isti

cs in

Eq

uit

y D

eriv

ativ

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egm

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SE, N

SE a

nd

MC

X-S

X

( `

cror

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Mon

th/

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ear

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r-ci

se

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men

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Exe

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se

Sett

le-

men

t

1 2

3 4

5 6

7 8

9 10

11

12

13

14

15

16

17

18

19

2008

-09

110.

42.

70.

10.

011

3.2

81.5

75,1

941,

498

10,9

604,

188

91,8

4023

,656

NA

2009

-10

0.5

0.0

0.1

0.0

0.6

72.2

60,6

561,

395

11,0

113,

881

76,9

4331

,572

2010

-11

1.2

0.0

0.0

0.0

1.2

70.7

67,2

881,

591

12,7

032,

119

83,7

0129

,759

2011

-12

65.0

11.1

38.4

77.4

191.

829

6.7

56,6

631,

274

12,7

981,

562

72,2

9625

,377

2012

-13

1,87

121

30,6

7134

32,5

9649

741

,925

1,21

911

,913

1,70

156

,759

26,1

414.

51.

20.

20.

05.

618

8.7

2013

-14$

791

165,

777

26,

585

372

14,8

6059

04,

365

931

20,7

4624

,055

251

41

3213

2

Apr

-13

161

466

01

827

481

2,99

413

81,

154

157

4,44

425

,648

5.9

0.8

0.5

0.1

7.3

197.

1

May

-13

308

394

00

1,25

050

53,

803

931,

095

153

5,14

327

,425

6.8

0.1

0.2

0.2

7.4

174.

7

Jun-

1320

65.

981,

366

0.16

1,57

841

93,

704

234

1,03

448

75,

459

25,5

998.

50.

30.

10.

19.

112

4.8

Jul-1

311

63.

922,

811

0.18

2,93

137

24,

359

125

1,08

213

45,

700

24,0

554.

10.

33.

30.

27.

913

1.7

$ in

dic

ates

as

on J

uly

31,

201

3

Sou

rce:

BSE

, NSE

an

d M

CX

-SX

.

984


Table 39: Categorywise Share of Turnover & Open Interest in Equity Derivative Segment of BSE

Month

Percentage Share in Turnover Percentage Share in Open Interest

Pro FIIMutual Funds

Banks Others Pro FIIMutual Funds

Banks Others

Jan-12 57.00 0.00 0.00 0.00 43.00 63.48 0.00 0.00 0.00 36.52

Feb-12 85.00 0.00 0.00 0.00 15.00 55.13 0.00 0.00 0.00 44.87

Mar-12 68.00 0.00 0.00 0.00 32.00 34.04 0.00 0.00 0.00 65.96

Apr-12 76.00 0.00 0.00 0.00 24.00 37.77 0.00 0.00 0.00 62.23

May-12 78.00 0.00 0.00 0.00 22.00 33.49 0.00 0.00 0.00 66.51

Jun-12 86.00 0.00 0.00 0.00 14.00 31.02 0.00 0.00 0.00 68.98

Jul-12 82.00 0.00 0.00 0.00 18.00 46.93 0.00 0.00 0.00 53.07

Aug-12 83.00 0.00 0.00 0.00 17.00 68.98 0.00 0.00 0.00 31.02

Sep-12 73.00 0.00 0.00 0.00 27.00 79.11 1.89 0.00 0.00 19.00

Oct-12 89.72 0.54 0.00 0.00 9.74 58.90 7.04 0.00 0.00 34.06

Nov-12 15.00 1.00 0.00 0.00 84.00 63.41 5.09 0.00 0.00 31.49

Dec-12 88.50 0.00 0.00 0.00 11.50 64.53 2.16 0.00 0.00 33.31

Jan-13 90.47 0.00 0.00 0.00 9.52 35.78 4.72 0.00 0.00 59.50

Feb-13 85.36 0.00 0.00 0.00 14.64 50.43 1.77 0.00 0.00 47.80

Mar-13 73.84 0.02 0.00 0.00 26.14 18.83 3.41 0.00 0.00 77.76

Apr-13 71.16 0.00 0.00 0.00 28.83 61.31 3.24 0.00 0.00 35.45

May-13 79.75 0.00 0.00 0.00 20.25 78.54 4.09 0.00 0.00 17.37

Jun-13 81.37 0.00 0.00 0.00 18.63 78.64 6.50 0.00 0.00 14.86

Jul-13 78.82 0.00 0.00 0.00 21.18 54.97 7.42 0.00 0.00 37.61

Source : BSE.

985


Table 40: Categorywise Share of Turnover & Open Interest in Equity Derivative Segment of NSE

Month

Percentage Share in Turnover Percentage Share in Open Interest

Pro FIIMutual Funds

Banks Others Pro FIIMutual Funds

Banks Others

Jan-12 43.7 16.7 0.3 0.0 39.3 23.0 32.8 2.2 0.0 42.0

Feb-12 41.8 17.6 0.2 0.0 40.3 20.0 36.9 2.4 0.0 40.6

Mar-12 43.3 18.9 0.2 0.0 37.7 20.1 33.2 2.6 0.0 44.1

Apr-12 44.4 16.9 0.2 0.0 38.5 21.6 31.2 2.6 0.0 44.6

May-12 44.3 18.6 0.2 0.0 36.8 21.0 36.0 4.4 0.0 38.6

Jun-12 44.1 18.3 0.2 0.0 37.5 20.0 33.8 3.7 0.0 42.4

Jul-12 46.6 14.4 0.2 0.0 38.8 19.9 32.7 3.1 0.0 44.3

Aug-12 47.6 14.8 0.2 0.0 37.4 19.1 34.6 3.2 0.0 43.1

Sep-12 47.6 14.5 0.1 0.0 37.7 18.2 35.4 2.7 0.0 43.8

Oct-12 46.2 15.4 0.1 0.0 38.3 18.4 34.2 2.7 0.0 44.6

Nov-12 46.4 13.8 0.1 0.0 39.7 18.9 33.0 2.9 0.0 45.1

Dec-12 46.3 14.5 0.1 0.0 39.1 19.5 32.2 2.5 0.0 45.7

Jan-13 44.3 15.5 0.1 0.0 40.0 17.2 36.2 3.1 0.0 43.5

Feb-13 46.6 15.1 0.2 0.0 38.1 16.3 36.3 3.5 0.0 43.9

Mar-13 47.2 16.1 0.1 0.0 36.5 16.7 37.0 3.6 0.0 42.8

Apr-13 48.2 14.5 0.1 0.0 37.3 18.2 34.6 2.9 0.0 44.2

May-13 46.2 15.9 0.1 0.0 37.8 14.0 47.0 2.0 0.0 37.0

Jun-13 44.9 16.7 0.1 0.0 38.3 18.3 36.5 3.6 0.0 41.6

Jul-13 47.0 14.4 0.1 0.0 38.5 18.6 36.3 3.4 0.0 41.8

Source : NSE.

986


Table 41: Instrumentwise Turnover in Index Derivatives at BSE

Month

Turnover (in Percentage)

BSE 30 SENSEX

BSE BANKEX

BSE OIL & GAS INDEX

BSE TECK

INDEX BSE100

HANG SENG Index

Futures

MICEX Index

Futures

FTSE/JSE Top40

Futures

IBOVESPA Futures

Jan-12 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Feb-12 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Mar-12 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Apr-12 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

May-12 99.81 0.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Jun-12 99.66 0.34 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Jul-12 100.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Aug-12 0.81 0.00 0.00 0.00 99.19 0.00 0.00 0.00 0.00

Sep-12 0.92 0.00 0.00 0.00 99.08 0.00 0.00 0.00 0.00

Oct-12 4.22 0.00 0.00 0.00 95.78 0.00 0.00 0.00 0.00

Nov-12 38.96 0.00 0.00 0.00 61.04 0.00 0.00 0.00 0.00

Dec-12 42.34 0.00 0.00 0.00 57.66 0.00 0.00 0.00 0.00

Jan-13 31.25 0.00 0.00 0.00 68.75 0.00 0.00 0.00 0.00

Feb-13 99.91 0.00 0.00 0.00 0.09 0.00 0.00 0.00 0.00

Mar-13 99.99 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00

Apr-13 91.39 0.00 0.00 0.00 8.61 0.00 0.00 0.00 0.00

May-13 0.66 0.00 0.00 0.00 99.33 0.00 0.00 0.00 0.00

Jun-13 0.30 0.00 0.00 0.00 99.70 0.00 0.00 0.00 0.00

Jul-13 0.16 0.00 0.00 0.00 99.84 0.00 0.00 0.00 0.00

Source: BSE.

987


able

42:

In

stru

men

twis

e T

urn

over

in I

nd

ex D

eriv

ativ

es a

t N

SE

Mon

thT

urn

over

(in

Per

cen

tage

)

BA

NK

NIF

TY

CN

XIN

FR

AC

NX

ITC

NX

PSE

FT

SE10

0N

FT

YM

CA

P50

NIF

TY

S&P

500

DJI

A

Jan-

122.

670.

000.

010.

000.

000.

0196

.30

0.19

0.82

Feb-

122.

780.

000.

010.

000.

000.

0096

.40

0.12

0.69

Mar

-12

2.65

0.00

0.00

0.00

0.00

0.00

96.6

40.

060.

65

Apr

-12

3.13

0.00

0.01

0.00

0.00

0.00

96.2

90.

010.

56

May

-12

3.08

0.00

0.00

0.00

0.18

0.00

96.2

00.

010.

52

Jun-

123.

850.

000.

000.

000.

110.

0095

.49

0.01

0.52

Jul-1

24.

080.

000.

010.

000.

070.

0095

.37

0.01

0.47

Aug

-12

4.20

0.00

0.00

0.00

0.06

0.00

95.3

20.

010.

40

Sep-

125.

210.

000.

010.

000.

050.

0094

.39

0.01

0.34

Oct

-12

5.32

0.00

0.00

0.00

0.05

0.00

94.2

00.

000.

42

Nov

-12

5.32

0.00

0.00

0.00

0.01

0.00

94.3

30.

010.

33

Dec

-12

5.92

0.00

0.00

0.00

0.01

0.00

93.7

90.

010.

26

Jan-

137.

400.

000.

010.

000.

010.

0092

.36

0.01

0.22

Feb-

136.

430.

000.

010.

000.

010.

0093

.52

0.01

0.02

Mar

-13

7.79

0.00

0.01

0.00

0.01

0.00

92.1

50.

010.

04

Apr

-13

7.95

0.00

0.01

0.00

0.00

0.00

91.9

80.

020.

04

May

-13

7.69

0.00

0.00

0.00

0.00

0.00

92.2

60.

020.

03

Jun-

136.

370.

000.

000.

000.

000.

0093

.57

0.01

0.03

Jul-1

38.

130.

000.

010.

000.

000.

0091

.83

0.01

0.02

Sou

rce

: NSE

.

988


Table 43: Trading in the Corporate Debt Market

Month/Year

BSE NSE FIMMDA

No. of TradesTraded Value

(` crore)No. of Trades

Traded Value (` crore)

No. of TradesTraded Value

(` crore)

1 2 3 4 5 6 7

2008-09 8,327 37,320 4,902 49,505 9,501 61,535

2009-10 7,408 53,323 12,522 1,51,920 18,300 1,95,955

2010-11 4,465 39,581 8,006 1,55,951 31,589 4,09,742

2011-12 6,424 49,842 11,973 1,93,435 33,136 3,50,506

2012-13 8,639 51,622 21,141 2,42,105 36,603 4,44,904

2013-14$ 3,821 37,524 8,919 1,31,312 16,387 2,61,796

Apr-13 986 9,493 2,422 29,911 4,440 71,452

May-13 1,070 11,048 2,299 35,031 4,699 75,788

Jun-13 708 5,251 1,934 30,309 3,199 51,666

Jul-13 1,057 11,731 2,264 36,061 4,049 62,891


Source: BSE, NSE and FIMMDA.

989


able

44

: Tra

din

g St

atis

tics

of

Cu

rren

cy D

eriv

ativ

es S

egm

ent

at N

SE

Mon

th/

Y

ear

No.

of

Tra

din

g

Day

s

Cu

rren

cy F

utu

res

Cu

rren

cy O

pti

ons

Tot

alO

pen

In

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st a

t th

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d o

fN

o. o

f C

ontr

acts

T

urn

over

(`

cro

re)

Cal

lP

ut

No.

of

Con

trac

ts

Tu

rnov

er

(` c

rore

)N

o. o

f C

ontr

acts

T

urn

over

(`

cro

re)

No.

of

Con

trac

ts

Tu

rnov

er

(` c

rore

)N

o. o

f C

ontr

acts

V

alu

e(`

cro

re)

12

34

56

78

910

1112

2008

-09

139

3,27

,38,

566

1,62

,563

NA

NA

NA

NA

3,27

,38,

566

1,62

,563

2,57

,554

1,31

3

2009

-10

240

37,8

6,06

,983

17,8

2,60

8N

AN

AN

AN

A37

,86,

06,9

8317

,82,

608

4,27

,873

1,96

4

2010

-11

249

71,2

1,81

,928

32,7

9,00

22,

32,9

7,30

61,

06,5

061,

41,2

2,84

164

,280

74,9

6,02

,075

34,4

9,78

830

,20,

562

13,6

90

2011

-12

240

70,1

3,71

,974

33,7

8,48

915

,37,

04,1

807,

34,7

4111

,82,

67,9

785,

61,7

6097

,33,

44,1

3246

,74,

990

29,5

9,05

515

,328

2012

-13

243

68,4

1,59

,263

37,6

5,10

514

,81,

48,3

558,

17,3

6212

,69,

35,8

306,

91,9

9795

,92,

43,4

4852

,74,

465

36,5

7,30

420

,101

2013

-14$

8325

,24,

75,2

5414

,62,

781

6,46

,60,

840

3,72

,627

6,49

,99,

619

3,69

,787

38,2

1,35

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5,19

417

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11,3

60

Apr

-13

185,

32,1

6,30

62,

93,5

091,

54,8

2,99

485

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1,15

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819

63,0

298,

02,7

3,11

94,

41,6

8246

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88

May

-13

226,

86,2

4,95

73,

83,9

361,

72,0

5,72

195

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332

98,5

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105,

78,4

6053

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Jun-

1320

8,28

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291

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236

1,52

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4,41

528

,247

Jul-1

323

4,77

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700

2,93

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98,7

1,42

760

,358

93,9

3,23

256

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2009

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2010

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6

2011

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2012

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2013

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Apr

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May

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Jun-

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Jul-1

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2011

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2012

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2013

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Apr

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May

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Jun-

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218

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7738

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Jul-1

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19-Ju

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22-Ju

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167

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075

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23-Ju

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326

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401

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6,65

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24-Ju

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25-Ju

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26-Ju

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996


Table 51: Instrumentwise Turnover in Currency Derivatives of NSE

MonthTurnover (in `crore)

USDINR EURINR GBPINR JPYINR

Jan-12 3,53,329 3,409 1,716 1,027

Feb-12 2,92,152 2,380 1,337 1,027

Mar-12 3,10,697 2,650 1,521 1,357

Apr-12 2,55,853 2,154 1,319 1,125

May-12 4,47,856 2,871 1,772 1,446

Jun-12 3,88,278 2,477 1,483 1,381

Jul-12 4,61,546 2,753 1,540 1,435

Aug-12 3,23,606 2,022 1,921 1,358

Sep-12 3,90,067 3,800 2,181 1,544

Oct-12 4,99,336 4,269 2,108 1,714

Nov-12 4,59,234 4,358 2,381 1,903

Dec-12 4,36,278 6,884 2,867 2,724

Jan-13 5,67,049 10,494 3,338 5,144

Feb-13 4,76,326 10,843 4,742 5,366

Mar-13 4,47,754 8,351 4,526 4,689

Apr-13 4,21,920 7,698 4,454 7,610

May-13 5,55,857 9,887 6,075 6,641

Jun-13 7,52,008 10,219 7,328 5,757

Jul-13 3,84,275 12,941 8,716 3,806

Source: NSE.

997


Table 52: Instrumentwise Turnover in Currency Derivative Segment of MCX-SX

Month

Turnover(`crore)

Open Interest as on last day of the month(in lots)

USDINR EURINR GBPINR JPYINR USDINR EURINR GBPINR JPYINR

Jan-12 2,35,027 6,366 2,423 1,434 9,64,982 18,936 11,239 15,801

Feb-12 2,06,461 5,640 1,894 1,379 9,74,216 24,671 22,540 16,616

Mar-12 2,60,646 6,186 3,197 2,616 7,74,292 33,421 30,011 6,362

Apr-12 1,87,605 5,184 3,024 1,894 15,73,322 26,255 30,997 8,988

May-12 3,24,642 7,111 3,952 1,972 12,77,872 28,487 25,782 15,758

Jun-12 2,59,390 6,117 3,410 2,567 13,11,016 22,392 19,013 11,457

Jul-12 2,85,495 6,054 2,988 3,132 11,27,536 22,456 20,501 13,961

Aug-12 2,01,024 3,471 2,677 2,744 12,33,646 22,625 22,243 15,428

Sep-12 2,40,943 5,338 3,426 2,918 10,83,996 22,117 12,260 13,391

Oct-12 2,79,241 5,890 3,036 3,605 12,22,315 29,220 18,965 12,645

Nov-12 2,48,772 6,908 3,579 3,530 13,55,594 39,500 23,097 11,060

Dec-12 2,26,651 8,106 4,090 3,329 12,92,181 56,546 26,177 11,206

Jan-13 3,12,141 10,454 4,798 5,960 13,08,067 53,719 9,435 26,849

Feb-13 2,64,436 10,453 5,599 6,514 13,98,746 36,311 10,538 13,702

Mar-13 3,00,444 8,331 4,913 5,316 12,92,737 19,886 9,592 12,447

Apr-13 2,65,605 6,948 4,109 7,414 16,27,287 33,254 13,712 18,465

May-13 3,59,175 9,730 6,491 7,045 18,79,297 63,091 21,438 12,591

Jun-13 4,55,079 11,607 8,892 7,303 15,31,349 60,912 27,083 13,612

Jul-13 2,84,687 12,701 9,360 4,151 12,14,222 64,804 29,882 7,590

Source: MCX-SX.

998


Table 53: Maturitywise Turnover in Currency Derivative Segment of NSE (in `crore)

MonthCurrency Futures Currency Options

1 Month 2 Month 3 Month > 3 months 1 Month 2 Month 3 Month > 3 months

Jan-12 2,12,770 35,656 7,584 4,940 89,053 8,437 905 134

Feb-12 1,83,945 28,953 4,679 4,343 64,032 9,954 791 201

Mar-12 1,92,434 30,338 4,382 5,718 73,606 6,846 1,131 1,769

Apr-12 1,61,721 28,787 2,244 2,633 56,282 7,552 459 772

May-12 2,87,945 39,354 5,770 4,707 1,03,683 10,230 342 1,915

Jun-12 2,55,277 34,838 4,036 3,619 87,598 8,068 142 43

Jul-12 2,89,422 37,091 4,767 4,550 1,19,543 10,135 1,655 112

Aug-12 2,05,243 30,197 3,886 2,942 76,806 9,686 111 37

Sep-12 2,36,046 38,067 4,745 3,650 1,03,100 11,600 152 232

Oct-12 3,14,137 39,494 5,077 3,793 1,33,587 11,101 205 34

Nov-12 2,66,908 46,653 6,014 3,942 1,31,847 12,323 174 13

Dec-12 2,75,160 37,157 5,715 3,861 1,15,214 11,493 152 1

Jan-13 3,43,114 47,936 6,290 4,292 1,67,703 16,554 136 0

Feb-13 2,90,943 46,969 6,145 2,802 1,37,024 12,256 1,073 66

Mar-13 2,67,192 42,558 4,933 2,486 1,31,089 16,824 222 18

Apr-13 2,40,857 44,929 4,620 3,103 1,27,104 20,665 375 29

May-13 3,09,368 62,183 8,260 4,125 1,68,796 25,594 113 21

Jun-13 4,02,363 74,883 8,652 6,262 2,47,298 35,608 54 192

Jul-13 2,52,951 29,626 4,964 5,635 1,12,548 3,930 86 0

Source: NSE.

999


Table 54: Maturitywise Turnover in Currency Derivative Segment of MCX-SX (in `crore)

MonthCurrency Futures Currency Options

1 Month 2 Month 3 Month > 3 months 1 Month 2 Month 3 Month > 3 months

Jan-12 2,18,343 23,309 2,581 1,017 - - - -

Feb-12 1,91,343 21,467 1,860 703 - - - -

Mar-12 2,43,203 25,759 2,804 880 - - - -

Apr-12 1,72,087 23,042 1,536 1,042 - - - -

May-12 3,00,366 31,296 3,241 2,774 - - - -

Jun-12 2,41,966 25,341 2,348 1,830 - - - -

Jul-12 2,67,307 26,248 2,501 1,614 - - - -

Aug-12 1,82,121 19,624 1,967 836 4,634 715 - 18

Sep-12 2,05,206 26,270 3,443 1,259 15,739 691 - 17

Oct-12 2,41,883 25,533 2,640 1,847 18,963 885 22 -

Nov-12 2,10,319 28,997 3,480 1,871 17,291 810 22 -

Dec-12 1,96,870 23,739 2,732 1,150 16,903 747 - 34

Jan-13 2,64,714 29,934 3,951 1,080 30,987 2,671 17 -

Feb-13 2,21,659 26,790 2,958 840 32,512 1,940 303 -

Mar-13 2,34,911 27,103 3,392 1,376 47,893 4,290 16 23

Apr-13 2,03,186 28,900 2,661 1,225 40,849 7,139 56 59

May-13 2,59,507 36,460 4,030 1,534 73,388 7,390 18 115

Jun-13 3,28,721 46,714 4,846 2,334 92,050 7,816 67 332

Jul-13 2,28,846 27,807 4,620 2,373 44,560 2,394 247 52

Source: MCX-SX.

1000


Table 55: Trends in Foreign Institutional Investment

PeriodGross Purchase

(` crore)Gross Sales

(` crore)Net Investment

(` crore)Net Investment

(US $ mn.)

Cumulative Net Investment (US $ mn.)

1 2 3 4 5 6

2008-09 6,14,579 6,60,389 -45,811 -9,837 59,081

2009-10 8,46,438 7,03,780 1,42,658 30,251 89,333

2010-11 9,92,599 8,46,161 1,46,438 32,226 1,21,559

2011-12 9,21,285 8,27,562 93,725 18,923 1,40,482

2012-13 9,04,845 7,36,481 1,68,367 31,047 1,71,529

2013-14$ 3,30,223 3,53,622 -23,399 -3,393 1,68,135

Apr-13 86,203 75,455 10,749 1,992 1,73,521

May-13 1,01,674 73,536 28,138 5,176 1,78,697

Jun-13 66,998 1,11,160 -44,162 -7,536 1,71,161

Jul-13 75,348 93,472 -18,124 -3,026 1,68,135

The data presented above is compiled on the basis of reports submitted to SEBI by custodians.


Source : SEBI

1001


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277

.330

-Jul-1

32,

171.

42,

380.

5-2

09.1

-35.

31,

284.

81,

521.

4-2

36.6

-39.

93,

456.

23,

901.

9-4

45.7

-75.

231

-Jul-1

32,

523.

82,

296.

622

7.2

38.0

783.

566

9.4

114.

119

.13,

307.

32,

966.

034

1.3

57.1

Tot

al62

,972

69,0

58-6

,086

-1,0

1512

,376

24,4

13-1

2,03

8-2

,011

75,3

4893

,472

-18,

124

-3,0

26

Th

e d

ata

pre

sen

ted

ab

ove

is c

omp

iled

on

the

bas

is o

f re

por

ts s

ub

mit

ted

to S

EB

I b

y cu

stod

ian

s on

Ju

ly 3

1, 2

013

and

con

stit

ute

s tr

ades

con

du

cted

by

FII

s on

an

d

up

to t

he

pre

viou

s tr

adin

g d

ay(s

).*

Con

vers

ion

rat

e: T

he

dai

ly R

BI

refe

ren

ce r

ate

as o

n t

he

trad

ing

day

has

bee

n a

dop

ted

. (I

f th

e tr

adin

g d

ay i

s a

ban

k h

olid

ay,

imm

edia

tely

pre

ced

ing

day

's

refe

ren

ce r

ate

has

bee

n u

sed

)."

Not

e: T

he

dat

a p

erta

ins

to a

ll th

e ac

tivi

ties

un

der

take

n b

y F

IIs

in I

nd

ian

Sec

uri

ties

Mar

ket,

incl

ud

ing

trad

es d

one

in s

econ

dar

y m

arke

t, p

rim

ary

mar

ket

and

ac

tivi

ties

invo

lved

in r

igh

t/b

onu

s is

sues

, pri

vate

pla

cem

ent,

mer

ger

& a

cqu

isit

ion

, etc

."So

urc

e: S

EB

I

1002


Table 57: Notional Value of Participatory Notes (PNs) Vs Assets Under Management of FIIs

(in ` Crores)

Month

Total value of PNs on Equity & Debt including PNs on

derivatives

Total value of PNs on Equity & Debt excluding PNs on

derivatives

Assets Under Custody of FIIs

Total value of PNs on Equity & Debt including PNs on

derivatives as % of (4)

Total value of PNs on Equity & Debt excluding PNs on

derivatives as % of (4)

1 2 3 4 5 6

2011-12 1,65,832 1,15,332 11,07,399 15.0 10.4

2012-13 1,47,905 1,04,229 13,36,557 11.1 7.8

2013-14$ 1,48,118 94,814 12,93,687 11.5 7.3

Apr-13 1,57,578 1,11,486 13,91,619 11.3 8.0

May-13 1,68,263 1,10,904 14,38,980 11.7 7.7

Jun-13 1,47,498 99,763 13,49,184 10.9 7.4

Jul-13 1,48,118 94,814 12,93,687 11.5 7.3


Source:SEBI.

1003


able

58:

Tre

nd

s in

Res

ourc

e M

obili

sati

on b

y M

utu

al F

un

ds

(` c

rore

)

Per

iod

Gro

ss M

obili

sati

onR

edem

pti

onN

et I

nfl

ow/

Ou

tfl o

wA

sset

s at

th

e E

nd

of

Per

iod

Pvt

. Se

ctor

UT

IP

ub

lic S

ecto

rT

otal

P

vt.

Sec

tor

UT

IP

ub

lic S

ecto

rT

otal

P

vt.

Sect

orU

TI

Pu

blic

Sec

tor

Tot

al

12

34

56

78

910

1112

1314

2008

-09

42,9

2,75

14,

23,1

317,

10,4

7254

,26,

354

43,2

6,76

84,

26,7

907,

01,0

9254

,54,

650

-34,

018

-3,6

589,

380

-28,

296

4,17

,300

2009

-10

76,9

8,48

38,

81,8

5114

,38,

688

1,00

,19,

023

76,4

3,55

58,

66,1

9814

,26,

189

99,3

5,94

254

,928

15,6

5312

,499

83,0

806,

13,9

79

2010

-11

69,2

2,92

47,

83,8

5811

,52,

733

88,5

9,51

569

,42,

140

8,00

,494

11,6

6,28

889

,08,

921

-19,

215

-16,

636

-13,

555

-49,

406

5,92

,250

2011

-12

56,8

3,74

45,

22,4

536,

13,4

8268

,19,

679

56,9

9,18

95,

25,6

376,

16,8

7768

,41,

702

-15,

446

-3,1

84-3

,394

-22,

024

5,87

,217

2012

-13

59,8

7,88

96,

33,3

506,

46,6

4672

,67,

885

59,1

9,97

96,

28,7

206,

42,6

4771

,91,

346

67,9

114,

629

3,99

976

,539

7,01

,443

2013

-14$

23,5

2,79

02,

47,7

992,

56,3

1228

,56,

902

23,2

7,03

92,

36,4

932,

47,8

3128

,11,

363

25,7

5211

,306

8,48

145

,539

7,60

,833

Apr

-13

5,50

,268

58,1

6770

,175

6,78

,610

4,65

,846

43,7

3162

,459

5,72

,036

84,4

2214

,436

7,71

71,

06,5

748,

25,5

52

May

-13

5,96

,199

62,1

2644

,732

7,03

,057

5,62

,524

59,3

8543

,713

6,65

,622

33,6

762,

741

1,01

937

,435

8,68

,426

Jun-

135,

68,6

8461

,744

67,8

536,

98,2

816,

09,4

0567

,986

69,2

947,

46,6

85-4

0,72

1-6

,242

-1,4

41-4

8,40

38,

11,4

81

Jul-1

36,

37,6

3965

,762

73,5

527,

76,9

536,

89,2

6465

,391

72,3

658,

27,0

20-5

1,62

537

11,

187

-50,

067

7,60

,833

$ in

dic

ates

as

on J

uly

31,

201

3

Sou

rce:

SE

BI.

1004


able

59:

Typ

e-w

ise

Res

ourc

e M

obili

sati

on b

y M

utu

al F

un

ds

: Op

en-e

nd

ed a

nd

Clo

se-e

nd

ed

(` c

rore

)

Sch

eme

2011

-12

2012

-13

2013

-14$

Jul-

13N

et A

sset

s U

nd

er M

an-

agem

ent

$Sa

leP

urc

has

eN

etSa

leP

urc

has

eN

etSa

leP

urc

has

eN

etSa

leP

urc

has

eN

et

12

34

56

78

910

1112

1314

Ope

n-en

ded

66,7

0,52

666

,85,

523

-14,

997

71,8

7,92

870

,84,

206

1,03

,723

28,3

3,10

727

,62,

761

70,3

477,

64,0

208,

22,2

05-5

8,18

56,

55,5

39

Clos

e-en

ded

1,35

,513

1,32

,072

3,44

172

,047

98,5

86-2

6,53

919

,997

47,4

47-2

7,44

910

,507

4,77

75,

730

94,9

33

Inte

rval

13,6

3924

,107

-10,

468

7,91

08,

555

-645

3,79

71,

156

2,64

12,

427

382,

389

10,3

61

Tot

al68

,19,

679

68,4

1,70

2-2

2,02

472

,67,

885

71,9

1,34

676

,539

28,5

6,90

228

,11,

363

45,5

397,

76,9

648,

27,0

32-5

0,06

77,

60,8

33

$ in

dic

ates

as

on J

uly

31,

201

3

Not

e: N

et a

sset

s of

Rs.

563

1.01

cro

res

per

tain

ing

to F

un

ds

of F

un

ds

Sch

emes

for

Ju

ne'

13

is n

ot in

clu

ded

in t

he

abov

e d

ata.

Net

ass

ets

of R

s. 6

034.

81 c

rore

s p

erta

inin

g to

Fu

nd

s of

Fu

nd

s Sc

hem

es f

or J

uly

' 13

is n

ot in

clu

ded

in t

he

abov

e d

ata.

Sou

rce:

SE

BI.

1005


able

60:

Sch

eme-

wis

e R

esou

rce

Mob

ilisa

tion

an

d A

sset

s u

nd

er M

anag

emen

t b

y M

utu

al F

un

ds

(`cr

ore)

Typ

e

2012

-13

2013

-14$

Jul-

13

Sale

Pu

rch

ase

Net

Ass

ets

at t

he

end

of

Per

iod

Sale

Pu

rch

ase

Net

Ass

ets

at t

he

end

of

Per

iod

Sale

Pu

rch

ase

Net

12

34

56

78

910

1112

A. I

nco

me/

Deb

t O

rien

ted

Sch

emes

(i+

ii+

iii+

iv)

72,1

3,57

871

,23,

396

90,1

834,

97,4

5128

,41,

363

27,9

0,34

551

,018

5,68

,936

7,73

,361

8,21

,218

-47,

857

i

. Li

quid

/Mon

ey M

arke

t63

,65,

420

63,6

2,19

43,

226

93,3

9225

,71,

557

25,5

4,71

116

,846

1,29

,000

7,14

,995

7,60

,292

-45,

296

i

i. G

ilt12

,886

8,91

03,

975

8,07

44,

327

4,07

525

28,

203

1,02

993

297

iii

. D

ebt (

othe

r tha

n as

sure

d re

turn

)8,

35,2

737,

52,2

9282

,981

3,95

,985

2,65

,479

2,31

,559

33,9

204,

31,7

3357

,337

59,9

95-2

,658

i

v. D

ebt (

assu

red

retu

rn)

00

00

00

00

00

0

v

. In

fras

truc

ture

Dev

elopm

ent

00

00

00

00

00

0

B.

Gro

wth

/E

qu

ity

Ori

ente

d

S

chem

es (

i+ii

)43

,364

57,9

51-1

4,58

71,

72,5

0812

,631

17,2

13-4

,583

1,62

,609

2,94

44,

771

-1,8

26

i

. E

LSS

2,64

14,

282

-1,6

4122

,746

558

1,43

6-8

7821

,672

133

308

-174

i

i. O

ther

s40

,723

53,6

69-1

2,94

61,

49,7

6212

,073

15,7

77-3

,704

1,40

,936

2,81

14,

463

-1,6

52

C.

Bal

ance

d S

chem

es5,

205

4,98

921

616

,307

1,12

01,

596

-477

15,1

5725

141

4-1

63

D. E

xch

ange

Tra

ded

Fu

nd

(i+

ii)

5,05

23,

850

1,20

213

,124

1,50

71,

950

-443

12,0

6431

456

3-2

49

i

. G

old

ETF

2,76

71,

353

1,41

411

,648

360

704

-344

10,6

6935

142

-107

ii.

O

ther

ETF

s2,

285

2,49

7-2

121,

477

1,14

71,

247

-99

1,39

427

942

1-1

42

E.

Fu

nd

of

Fu

nd

s I

nves

tin

g O

vers

eas

686

1,16

0-4

742,

053

281

257

242,

068

8354

28

Tot

al (

A+

B+

C+

D+

E)

72,6

7,88

571

,91,

346

76,5

397,

01,4

4328

,56,

902

28,1

1,36

345

,539

7,60

,833

7,76

,953

8,27

,020

-50,

067

$ in

dic

ates

as

on J

uly

31,

201

3

Sou

rce:

SE

BI.

1006


able

61:

Nu

mb

er o

f Sc

hem

es a

nd

Fol

ios

by

Inve

stm

ent

Ob

ject

ive

(Nu

mb

er)

Typ

e

2012

-13

2013

-14$

No.

of

Sch

emes

No.

of

Fol

ios

No.

of

Sch

emes

No.

of

Fol

ios

Op

enC

lose

dIn

ter-

val

Tot

alO

pen

Clo

sed

Inte

r-va

lT

otal

Op

enC

lose

dIn

ter-

val

Tot

alO

pen

Clo

sed

Inte

r-va

lT

otal

12

34

56

78

910

1112

1314

1516

17

A.

Inco

me/

Deb

t O

rien

ted

Sch

emes

(i+

ii+

iii+

iv)

334

481

4285

755

,73,

592

5,46

,493

18,6

7761

,38,

762

337

358

4473

958

,61,1

334,

80,8

4417

,528

63,5

9,50

5

i. Li

quid

/Mon

ey M

arke

t55

00

552,0

8,848

00

2,08,8

4854

00

542,1

9,330

00

2,19,3

30

ii.

Gilt

420

042

63,02

60

063

,026

430

043

65,59

50

65,59

5

iii

. D

ebt (

othe

r tha

n

as

sure

d re

turn

)23

748

142

760

53,01

,718

5,46,4

9318

,677

58,66

,888

240

358

4464

255

,76,20

84,8

0,844

17,52

860

,74,58

0

iv.

Deb

t (as

sure

d re

turn

)0

00

00

00

00

00

00

00

0

v. In

fras

truc

ture

D

evelo

pmen

t0

00

00

00

00

00

00

00

B.

Gro

wth

/E

qu

ity

Ori

ente

d

Sch

emes

(i+

ii)

328

190

347

3,23

,43,

664

8,30

,524

03,

31,7

4,18

832

520

034

53,

09,4

1,998

7,98

,477

03,

17,4

0,47

5

i. E

LSS

3614

050

63,66

,243

7,97,2

350

71,63

,478

3713

050

61,13

,372

7,55,4

520

68,68

,824

ii.

Oth

ers

292

50

297

2,59,7

7,421

33,28

90

2,60,1

0,710

288

70

295

2,48,2

8,626

43,02

50

2,48,7

1,651

C.

Bal

ance

d S

chem

es31

10

3226

,01,8

5762

70

26,0

2,48

429

10

3025

,13,19

262

70

25,13

,819

D.

Exc

han

ge T

rad

ed F

un

d

(i

+ii

)37

00

377,

39,6

140

07,

39,6

1437

00

377,

42,5

800

07,

42,5

80

i. G

old

ETF

140

014

5,69,1

690

05,6

9,169

140

014

5,87,1

750

05,8

7,175

ii.

Oth

er E

TFs

230

023

1,70,4

450

01,7

0,445

230

023

1,55,4

050

01,5

5,405

E.

Fu

nd

of

Fu

nd

s I

nves

tin

g

Ove

rsea

s21

00

211,7

3,26

80

01,7

3,26

821

00

211,6

5,70

90

01,6

5,709

Tot

al (

A+

B+

C+

D+

E)

751

501

421,2

944,

14,3

1,995

13,7

7,64

418

,677

4,28

,28,

316

749

379

441,1

724,

02,2

4,61

212

,79,

948

17,5

284,

15,2

2,08

8

Not

e : D

ata

for

No.

of

Sch

emes

als

o in

clu

des

ser

ial p

lan

s

$ in

dic

ates

as

on J

uly

31,

201

3

Sou

rce:

SE

BI.

1007


Table 62: Trends in Transactions on Stock Exchanges by Mutual Funds (` crore)

Period

Equity Debt Total

Gross Purchase

Gross Sales

Net Purchase/

Sales

Gross Purchase

Gross Sales

Net Purchase/

Sales

Gross Purchase

Gross Sales

Net Purchase/

Sales

1 2 3 4 5 6 7 8 9 10

2008-09 1,44,069 1,37,085 6,985 3,27,744 2,45,942 81,803 4,71,814 3,83,026 88,787

2009-10 1,95,662 2,06,173 -10,512 6,24,314 4,43,728 1,80,588 8,19,976 6,49,901 1,70,076

2010-11 1,54,217 1,74,018 -19,802 7,62,644 5,13,493 2,49,153 9,16,861 6,87,511 2,29,352

2011-12 1,32,137 1,33,494 -1,358 11,16,760 7,81,940 3,34,820 12,48,897 9,15,434 3,33,463

2012-13 1,13,758 1,36,507 -22,749 15,23,393 10,49,934 4,73,460 16,37,150 11,86,440 4,50,711

2013-14$ 35,456 42,824 -353 5,59,905 4,40,349 1,19,557 5,95,361 4,83,173 1,19,204

Apr-13 6,321 7,744 -1,423 1,51,371 99,516 51,855 1,57,692 1,07,260 50,432

May-13 9,067 12,575 3,508 1,38,989 1,12,149 26,840 1,48,056 1,24,725 30,348

Jun-13 9,582 9,851 -269 1,57,538 92,936 64,602 1,67,120 1,02,787 64,333

Jul-13 10,485 12,654 -2,169 1,12,008 1,35,748 -23,740 1,22,493 1,48,401 -25,909


Source: SEBI

1008


able

63

: Ass

et U

nd

er M

anag

emen

t b

y P

ortf

olio

Man

ager

Yea

r/M

onth

2011

-12

2012

-13

Jun

-13

Jul-

13

Rep

orti

ng

Por

tfol

io M

anag

ers

Par

ticu

lars

Dis

cre-

tion

ary

Non

-D

iscr

e-ti

onar

yA

dvi

sory

Dis

cre-

tion

ary

Non

-D

iscr

e-ti

onar

yA

dvi

sory

Dis

cre-

tion

ary

Non

-D

iscr

e-ti

onar

yA

dvi

sory

Dis

cre-

tion

ary

Non

-D

iscr

e-ti

onar

yA

dvi

sory

12

34

56

78

910

1112

13

No.

of

Clie

nts

65,6

005,

712

9,29

650

,937

4,46

111

,187

49,1

145,

176

11,0

1048

,325

5,17

611

,010

AU

M (`

in c

rore

)

List

ed E

quity

15,1

713,

602

73,

914*

15,7

383,

888

79,

841*

15,4

964,

579

781

97.9

6*

14,8

884,

535

774

06.3

9*

Unl

isted

Equ

ity1,

725

511,

481

561,

660

711,

549

72

Plain

Deb

t39

2,56

611

,112

462,

715

16,8

9847

6,90

118

,417

482,

976

19,0

33

Stru

ctur

ed D

ebt

1,69

275

61,

063

726

911

721

871

691

Equ

ity D

eriv

ativ

e15

20

750

116

012

547

Mut

ual F

und

3,77

02,

857

3,93

94,

406

4,10

25,

160

3,72

34,

948

Oth

ers

8,69

938

114

,841

324

16,1

8330

616

,691

441

Tot

al42

3,77

418

,759

499,

851

26,2

9851

5368

.35#

29,2

5552

0821

.49#

29,7

68

1. *

Val

ue

of A

sset

s fo

r w

hic

h A

dvi

sory

Ser

vice

s ar

e b

ein

g gi

ven

.

2. #

Of

the

abov

e A

UM

Rs.

4855

27.1

8 cr

ore

is c

ontr

ibu

ted

by

fun

ds

from

EP

FO

/P

Fs.

Th

e ab

ove

dat

a is

bas

ed o

n t

he

mon

thly

rep

orts

rec

eive

d f

rom

por

tfol

io m

anag

ers.

Sou

rce:

SE

BI.

1009


Table 64: Substantial Acquisition of Shares and Takeovers

Year/Month

Open Offers

Objectives Total

Change in Control of Management

Consolidation of Holdings

Substantial Acquisition

No. of issueAmount (` crore)No. of

issueAmount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

1 2 3 4 5 6 7 8 9

2008-09 80 3,713 13 598 6 400 99 4,711

2009-10 56 3,649 14 1,761 6 448 76 5,858

2010-11 71 10,251 17 8,902 14 145 103 18,748

2011-12 57 18,726 8 286 6 294 71 19,305

2012-13 14 836 38 8,419 27 2,904 79 12,159

2013-14$ 1 26 29 9,039 1 29,241 31 38,306

Apr-13 1 26 9 6,977 0 0 10 7,003

May-13 0 0 6 153 0 0 6 153

Jun-13 0 0 7 1 1 29,241 8 29,242

Jul-13 0 0 7 1,908 0 0 7 1,908


Source: SEBI.

1010


able

65:

Pro

gre

ss R

epor

t of

NSD

L &

CD

SL a

s on

Ju

ly 3

1, 2

013

(Lis

ted

com

pan

ies)

Par

amet

erU

nit

NSD

LC

DSL

Jul-

13Ju

n-1

3Ju

l-12

Perc

ent

Cha

nge

over

C

orre

s-po

ndin

g Pr

evio

us

year

Perc

ent

Cha

nge

duri

ng

mon

th

Jul-

13Ju

n-1

3Ju

l-12

Perc

ent

Cha

nge

over

C

orre

s-po

ndin

g Pr

evio

us

year

Perc

ent

Cha

nge

duri

ng

mon

th

12

34

56

78

910

1112

Num

ber o

f co

mpa

nies

sign

ed u

p to

mak

e th

eir sh

ares

avail

able

for d

emat

erial

izat

ion

Num

ber

5,53

95,

532

5,42

82.

00.

15,

739

5,72

75,

552

3.4

0.2

Num

ber o

f D

epos

itory

Par

ticip

ants

(re

gist

ered

)N

umbe

r28

128

228

4-1

.1-0

.357

457

656

71.

2-0

.3

Num

ber o

f St

ock

Exc

hang

es (c

onne

cted

)N

umbe

r8

87

14.3

0.0

88

70.

00.

0N

umbe

r of

Inve

stor

s Acc

ount

sLa

kh12

8.4

128.

012

2.6

4.8

0.4

84.7

84.4

80.1

5.8

0.4

Qua

ntity

of

Shar

es d

emat

erial

ized

cror

e34

,601

34,4

9233

,030

4.8

0.3

8,46

48,

400

7,36

614

.90.

8Va

lue

of S

hare

s dem

ater

ializ

ed`

cror

e51

,51,

727

53,4

0,04

150

,39,

837

2.2

-3.5

8,09

,794

8,77

,281

8,78

,906

-7.9

-7.7

Qua

ntity

of

Secu

rities

dem

ater

ializ

ed #

cror

e35

,244

35,1

4833

,844

4.1

0.3

8,57

38,

501

7,47

014

.80.

8Va

lue

of S

ecur

ities

dem

ater

ializ

ed #

` cr

ore

63,5

1,81

865

,32,

618

60,2

7,02

95.

4-2

.88,

43,6

039,

11,3

329,

11,4

17-7

.4-7

.4Q

uant

ity o

f sh

ares

settl

ed d

urin

g th

e m

onth

cror

e57

052

458

8-3

.18.

830

026

334

5-1

3.1

13.7

Aver

age

Qua

ntity

of

shar

es se

ttled

dail

y (q

uant

ity o

f sh

ares

settl

ed d

urin

g th

e m

onth

(d

ivid

ed b

y 30

))cr

ore

1917

20-3

.18.

810

911

-13.

113

.7

Valu

e of

shar

es se

ttled

dur

ing

the

mon

th in

de

mat

erial

ized

form

` cr

ore

1,21

,134

1,09

,683

98,1

9223

.410

.424

,364

20,4

0424

,407

-0.2

19.4

Aver

age

Valu

e of

shar

es se

ttled

dail

y (v

alue

of sh

ares

settl

ed d

urin

g th

e m

onth

(div

ided

by

30)

)`

cror

e4,

038

3,65

63,

273

23.4

10.4

812

680

814

-0.2

19.4

Train

ing

Prog

ram

mes

con

duct

ed fo

r re

pres

enta

tives

of

Corp

orat

es, D

Ps a

nd

Brok

ers

Num

ber

1821

526

0.0

-14.

330

2346

2-9

3.5

30.4

The

ratio

of

dem

ater

ializ

ed e

quity

shar

es to

th

e to

tal o

utst

andi

ng sh

ares

(mar

ket v

alue)

perc

ent

83.0

82.6

82.0

1.2

0.6

13.8

14.3

14.9

-7.3

-3.4

#

Sou

rce

for

liste

d s

ecu

riti

es in

form

stio

n: I

ssu

er/

NSE

/B

SEN

otes

: (1

) Sh

ares

incl

ud

es o

nly

eq

uit

y sh

ares

(2

) Se

curi

ties

incl

ud

e co

mm

on e

qu

ity

shar

es, P

ref

shar

es, d

eben

ture

, MF

un

its,

etc

.

(3)

No.

of

day

s ta

ken

for

cal

cula

tin

g D

aily

Ave

rage

is 3

0 d

ays

inst

ead

of

Act

ual

set

tlem

ent

day

s.

(4)

Qu

anti

ty a

nd

val

ue

of s

har

es m

enti

oned

are

sin

gle

sid

ed.

Sou

rce:

NSD

L a

nd

CD

SL.

1011


able

66:

Pro

gre

ss o

f D

emat

eria

lisat

ion

at

NSD

L a

nd

CD

SL (

Lis

ted

an

d U

nlis

ted

Com

pan

ies)

Yea

r/M

onth

NSD

LC

DSL

Com

pan

ies

Liv

e D

Ps

Liv

eD

Ps

Loc

atio

ns

Dem

at

Qu

anti

ty

(mill

ion

se

curi

ties

)

Dem

at

Val

ue

(` c

rore

)

Com

pan

ies

Liv

eD

Ps

Liv

eD

Ps

Loc

atio

ns

Dem

at

Qu

anti

ty

(mill

ion

se

curi

ties

)

Dem

at

Val

ue

(` c

rore

)

12

34

56

78

910

11

2008

-09

7,80

127

58,

777

2,82

,870

31,0

6,62

46,

213

461

6,93

470

,820

4,39

,703

2009

-10

8,12

428

611

,170

3,51

,138

56,1

7,84

26,

801

490

8,59

077

,950

8,38

,928

2010

-11

8,84

229

312

,767

4,71

,304

66,0

7,90

08,

030

544

10,0

521,

05,3

1010

,81,

417

2011

-12

9,74

128

214

,033

5,79

,801

71,3

2,30

09,

928

566

10,6

441,

33,5

7010

,20,

569

2012

-13

10,8

4428

214

,641

686,

476

76,7

9,02

78,

062

577

12,6

011,

51,7

929,

85,0

38

2013

-14$

11,2

3728

114

,445

7,17

,548

75,1

9,80

08,

235

574

11,5

221,

58,9

239,

10,7

24

Apr

-13

10,9

4028

214

,670

6,92

,620

78,3

4,05

58,

105

575

12,4

551,

53,1

7410

,44,

587

May

-13

11,0

8628

114

,636

7,02

,066

79,4

1,53

48,

154

576

11,6

781,

54,5

9010

,26,

127

Jun-

1311

,203

282

14,4

457,

10,7

5577

,48,

800

8,19

757

611

,557

1,56

,628

9,75

,535

Jul-1

311

,237

281

14,4

457,

17,5

4875

,19,

800

8,23

557

411

,522

1,58

,923

9,10

,724

Not

e :

1.

For

CD

SL, t

he

curr

ent

and

his

tori

cal d

ata

of C

omp

anie

s L

ive

has

bee

n r

evis

ed t

o ex

clu

de

MF

sch

emes

cou

nt.

2.

Th

e C

omp

anie

s L

ive

fi gu

re i

ncl

ud

es o

nly

th

e nu

mb

er o

f m

utu

al f

un

d c

omp

anie

s an

d n

ot t

he

mu

tual

fu

nd

sch

emes

.

DP

s L

ocat

ion

s' r

epre

sen

ts t

he

tota

l liv

e (m

ain

DP

s an

d b

ran

ch D

Ps

as w

ell a

s n

on-l

ive

(bac

k of

fi ce

con

nec

ted

col

lect

ion

cen

tres

).

$ in

dic

ates

as

on J

uly

31,

201

3

Sou

rce:

NSD

L a

nd

CD

SL.

1012


able

67

: Ass

ets

un

der

th

e C

ust

ody

of C

ust

odia

ns

Clie

nt

Perio

d

FIIS

/SAs

Fore

ign

Dep

osito

ries

FDI I

nves

tmen

tsFo

reig

n Ve

ntur

e Cap

ital

Inve

stmen

tsO

CBs

NRI

sM

utua

l Fun

dsCo

rpor

ates

Bank

sIn

sura

nce

Com

pani

esLo

cal P

ensio

n Fu

nds

Fina

ncia

l In

stitu

tions

O

ther

sTo

tal

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

No.

Amou

nt

(` cr

ore)

12

34

56

78

910

1112

1314

1516

1718

1920

2122

2324

2526

2728

29

2008

-09

3,883

3,91,9

5413

71,83

962

192

,694

7316

,579

4356

982

045

51,7

013,7

8,954

418

19,43

072

27,85

915

44,4

2,117

753,2

7420

32,00

85,3

1999

,857

13,2

1215

,77,58

9

2009

-106,9

989,0

0,869

701,5

6,616

919

1,45,5

5511

517

,604

391,0

111,3

761,0

711,2

095,8

4,628

1,491

29,32

873

42,59

718

97,8

0,610

9824

,266

1947

,607

10,16

61,3

1,199

22,76

228

,62,96

1

2010

-117,4

7411

,06,55

077

1,85,9

311,0

481,4

6,231

144

24,00

238

1,005

979

910

1,491

5,91,9

3754

748

,723

7885

,863

218

9,08,1

1210

034

,970

3662

,600

11,02

31,5

4,242

23,25

333

,51,07

6

2011

-127,9

6311

,07,39

977

1,43,3

701,1

452,3

1,841

150

35,04

134

790

591

2,624

1,856

5,87,2

4951

848

,200

7893

,661

418

9,16,5

9892

49,77

736

64,40

910

,876

2,26,7

7623

,834

35,07

,735

2012

-138,1

2913

,36,55

778

1,57,1

591,1

782,4

0,731

160

54,14

430

939

450

7,752

1,774

6,50,9

6349

850

,197

811,2

8,858

437

9,57,1

7283

61,78

933

75,30

48,4

212,6

4,254

21,35

239

,85,81

9

2013

-14$

8,243

12,93

,687

781,5

2,452

1,238

2,51,4

8516

252

,032

291,0

2531

175

51,7

166,6

3,559

450

52,91

979

1,44,4

9146

29,4

3,252

8966

,632

3470

,221

7,742

2,72,9

1720

,633

39,65

,426

Apr-1

38,1

9113

,91,61

978

1,64,5

791,1

802,4

9,790

160

54,34

731

1,026

447

8,273

1,862

7,33,1

1850

352

,726

801,2

8,698

437

9,83,9

5182

62,54

033

79,05

68 ,4

102,7

4,184

21,49

441

,83,90

7

May-1

38,2

2414

,38,98

078

1,67,0

531,2

212,5

7,193

160

50,96

631

1,047

317

800

1,740

7,42,4

7544

953

,257

791,2

4,382

437

9,78,6

7484

63,96

933

79,01

47,7

582,7

7,124

20,61

142

,34,93

3

Jun-13

8,237

13,49

,184

781,5

9,512

1,224

2,53,4

1416

351

,427

301,0

3831

079

51,7

367,0

1,907

444

51,69

379

1,32,3

5843

89,6

9,168

8464

,807

3373

,028

7,752

2,72,9

2320

,608

40,81

,254

Jul-13

8,243

12,93

,687

781,5

2,452

1,238

2,51,4

8516

252

,032

291,0

2531

175

51,7

166,6

3,559

450

52,91

979

1,44,4

9146

29,4

3,252

8966

,632

3470

,221

7,742

2,72,9

1720

,633

39,65

,426

$ in

dic

ates

as

on J

uly

31,

201

3So

urc

e: S

EB

I.

1013


Table 68: Ratings Assigned for Long-term Corporate Debt Securities (Maturity ≥ 1 year)

Grade

Period

Investment GradeNon-Investment

GradeTotalHighest Safety

(AAA)High Safety

(AA)Adequate Safety

(A)Moderate Safety

(BBB)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

No. of issue

Amount (` crore)

1 2 3 4 5 6 7 8 9 10 11 12 13

2008-09 307 5,23,589 349 1,38,471 298 53,240 526 52,372 396 24,220 1,876 7,91,892

2009-10 275 5,03,347 321 1,41,089 249 42,121 691 29,550 1,507 45,942 3,043 7,62,050

2010-11 244 5,11,583 267 1,82,584 249 90,445 579 69,283 1,843 42,704 3,199 9,07,685

2011-12 256 5,36,245 380 2,38,381 267 88,534 710 53,401 2,793 56,239 4,406 8,63,548

2012-13 204 7,98,560 449 2,46,970 313 86,799 648 47,193 2,558 54,090 4,172 12,33,613

2013-14$ 50 4,52,637 102 81,334 47 12,167 144 27,014 377 6,084 720 5,79,237

Apr-13 15 1,83,240 19 15,946 9 1,688 24 7,508 101 1,130 168 2,09,512

May-13 18 1,28,600 16 12,543 12 2,203 31 2,496 94 1,646 171 1,47,487

Jun-13 9 87,868 37 18,199 14 6,384 32 11,305 66 1,571 158 1,25,327

Jul-13 8 52,929 30 34,647 12 1,893 57 5,705 116 1,737 223 96,911


Source: Credit Rating Agencies.

1014


able

69:

Rev

iew

of

Acc

epte

d R

atin

gs o

f C

orp

orat

e D

ebt

Secu

riti

es (

Mat

uri

ty ≥

1 y

ear)

G

rad

e

Per

iod

Up

gra

ded

Dow

ng

rad

edR

eaffi

rm

edR

atin

g W

atch

Wit

hd

raw

n/

Su

spen

ded

Not

Mea

nin

gfu

l C

ateg

ory

Tot

al

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

oun

t (`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

oun

t (`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)N

o. o

f is

sue

Am

oun

t (`

cro

re)

No.

of

issu

eA

mou

nt

(` c

rore

)

12

34

56

78

910

1112

1314

15

2008

-09

3617

,033

251

1,60

,021

1,43

023

,23,

424

521,

23,3

0333

544

,853

190

2,10

526

,68,

725

2009

-10

197

61,0

5232

41,

31,6

682,

766

30,8

0,72

770

27,7

2635

884

,569

00

3,71

533

,85,

741

2010

-11

743

1,57

,395

310

28,2

033,

605

41,9

9,71

410

038

,662

518

87,3

140

05,

341

45,1

1,28

9

2011

-12

696

1,01

,523

650

1,35

,515

3,93

537

,36,

592

4532

,807

717

81,9

470

06,

058

40,5

2,77

4

2012

-13

463

28,6

2490

42,

19,3

213,

827

39,1

6,77

257

22,8

9863

710

7,17

70

05,

892

49,8

8,16

3

2013

-14$

6911

,844

3811

,623

471

1,85

0,58

77

8,27

677

5,01

20

066

218

,87,

343

Apr

-13

242,

703

51,

350

953,

42,2

971

100

1370

10

013

83,

47,1

51

May

-13

726

29

2,78

469

6,26

,494

110

032

1,72

80

011

86,

31,3

68

Jun-

1325

5,92

716

5,79

020

74,

51,3

343

7,14

317

2,04

90

026

84,

72,2

43

Jul-1

313

2,95

28

1,69

910

04,

30,4

622

933

1553

40

013

84,

36,5

80

$ in

dic

ates

as

on J

uly

31,

201

3

Sou

rce:

Cre

dit

Rat

ing

Age

nci

es.

1015


Table 70: Macro Economic Indicators

I. GDP at market prices for 2012-13 (at 2004-05 prices) (`crore)* 55,05,437

II. Gross Domestic Saving as a percent of GDP at current market prices in 2011-12 30.8

III. Gross Domestic Capital Formation as a percent of GDP at current market prices in 2010-11 35.0

IV. Monetary and Banking Indicators January February March April May June July

2013 2013 2013 2013 2013 2013 2013

Cash Reserve Ratio (percent) 4.3 4.0 4.0 4.0 4.0 4.0 4.0Bank Rate (percent) 8.8 8.8 8.5 8.5 8.3 8.3 10.3Money Supply (M3) (` crore) 81,00,400 81,52,940 83,44,490 84,67,410 83,44,490 87,45,410 87,39,010Aggregate Deposit (` crore) 64,77,250 65,61,050 69,04,870 68,38,490 69,66,530 70,90,150 70,79,860Bank Credit (` crore) 50,51,220 51,26,010 53,46,380 52,89,930 53,79,240 54,15,010 54,09,810V. Interest Rate

Call Money Rate (Weighted Average) 8.1 7.9 7.8 7.6 7.2 7.2 8.391-Day-Treasury Bill (Primary Yield) 8.2 8.0 8.2 7.6 7.3 7.5 11.0Base rate (Maximum) (percent) 10.5 10.5 10.3 10.3 10.3 10.3 10.3Deposit Rate(one year maturity) (Maximum) 9.0 9.0 9.0 9.0 9.0 9.0 9.0VI. Capital Market Indicators (`crore)

Turnover (BSE+NSE) 3,52,077 2,68,780 2,52,343 2,51,779 2,94,388 2,44,321 2,84,925Market Cap-BSE 70,24,577 65,38,038 63,87,887 66,45,785 66,78,737 64,05,118 62,63,106Market Cap-NSE 68,58,653 63,85,291 62,39,035 64,90,373 65,18,227 62,48,442 60,98,779Net FII Investment in Equity 22,059 24,439 9,124 5,414 4,043 -11,027 -6,086VII. Exchange Rate and Reserves

Forex Reserves (USD million) 2,95,155 2,90,574 2,93,843 2,96,371 2,87,897 2,84,645 2,80,163Re/ Dollar 53.3 54.4 54.4 54.3 56.5 59.7 61.1Re/Euro 72.6 71.9 69.5 70.7 73.7 78.0 81.06- months Inter Bank Forward Premia of US Dollar (percent per annum) 7.1 7.3 7.3 7.3 6.2 5.9 9.1

VIII. Public Borrowing and Infl ation

Govt. Market Borrowing - Gross (` crore) 5,22,000 5,58,000 5,58,000 5,58,000 1,05,000 1,51,000 2,10,000Wholesale Price Index (Base 2004-05) 169.2 170.2 170.6 171.5 171.6 172.7 175.4IX. Index of Industrial Production (y-o-y) percent (Base year 2004-05 = 100)

General 181.8 176.2 192.3 167.2 165.5 164.3 NAMining 134.0 124.0 145.3 120.7 122.3 117.1 NAManufacturing 193.7 190.9 205.0 177.0 172.6 174.2 NAElectricity 160.7 140.5 164.2 159.1 172.4 157.0 NAX. External Sector Indicators (USD million)

Exports 25,587 26,259 30,850 24,164 24,506 23,786 25,834Imports 45,583 41,182 41,165 41,952 44,649 36,035 38,103Trade Balance -19,996 -14,922 -10,315 -17,787 -20,144 -12,249 -12,268

* Provisional Estimate.

NA indicates Not Avaliable.

Source : RBI, CSO, Ministry of Commerce & Industry.

1016


PUBLICATIONS

1. Annual Report : 2011-122. Handbook of Statistics on Indian Securities Market, 2012

Interested persons may contact the Department of Economic and Policy Analysis of SEBI to obtain a copy of Annual Report/Handbook of Statistics at the following address:

Department of Economic and Policy AnalysisSecurities and Exchange Board of IndiaPlot No. C4-A, ‘G’ Block,Bandra Kurla Complex,Bandra (E), Mumbai-400051

Tel no. +91-2226449000Fax no. +91-222669021

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