Markets regulator SEBI on Thursday allowed all exchanges to provide trading in stocks and commodities from October 2018. NSE and BSE Stock exchanges can now launch commodity products on their platforms.  It has also decided to put a 10% cross-shareholding cap in MFs.

The new step may have an impact on the shareholding pattern of UTI Asset Management Co (AMC), requiring its promoters to lower their stake to 10% or below in next one year.

State Bank of India, Punjab National Bank, Bank of Baroda and LIC of India are having their own mutual funds together holding 18.24% stake each in UTI Asset Management Company.

The regulator has decided that any shareholder owning at least 10% stake in an AMC will not be allowed to have 10% or more stake in another mutual fund house operating in the country.  The move enables in strengthening the governance structure for mutual funds and helps avoid any conflict of interest.

Besides, Sebi has also decided to emerge with a fresh consultation paper on Investment Advisor so as to segregate advisory and the role of a distributor.

Indiabulls Housing Finance raises Rs 895 crore through NCDs

India’s second largest private housing finance company,  Indiabulls Housing Finance Limited has allotted its II-tranche of Secured, Redeemable, NCDS (Non-Convertible Debentures ) of face value Rs 10,00 lakh each aggregating to Rs. 895.00 crore on Dec 27, 2017. The NCDs will be listed on both the NSE and BSE. 

Shares of Indiabulls Housing Finance ended at Rs. 1207.80, up by 15.15 points or 1.27% on the NSE, on Thursday’s closing.

India-bulls Housing Finance Limited is the II-nd largest private housing finance company in India, regulated by the National Housing Bank (NHB).

Canara Bank goes on equity capital raising plan

Shares of Canara Bank rose 0.9% to Rs 377.90 on BSE in the morning hours after it has announced that the bank approved raising additional equity share capital.

The state-owned Canara Bank has announced that it has approved raising additional equity share capital of Rs 90 crore QIP route, by issuing up to 9.00 crore equity shares of face value Rs. 10.00 each.

The net profit Canara Bank's fell 27.1% to Rs 260.18 crore on 1.6% fall in total income to Rs 11,994.64 crore in Q2 Sep 2017 Y-o-Y.

The Govt of India held 66.3 percent stake in Canara Bank according to the shareholding pattern as at 30 Sept 2017.