short change: Sebi to revisit policy on proprietary trading by brokers

FIIs hike stake in 21 Sensex companies in December quarter

Mumbai: Mirroring their positive stance on Indian stocks, foreign funds increased their exposure in 21 Sensex firms, including TCS, Infosys, RIL and HDFC Bank, in the quarter ended December 2013. Foreign Institutional Investors (FIIs), a major driver of the Indian stock markets, have increased their shareholding in 21 companies of 30-Sensex constituents in the October-December quarter, according to the shareholding pattern of the blue-chip companies. Firms that saw rise in FII holding include Bajaj Auto, BHEL, ONGC, GAIL, Tata Power, Sesa Sterlite, Hero Motocorp, Tata Motors, Maruti, Hindalco, ICICI Bank, HDFC, Wipro, Dr Reddy’s and M&M. Foreign funds, however, reduced their stake in HUL, ITC, Coal India, SBI, NTPC, Bharti Airtel and Axis Bank during the same period. However, the latest shareholding pattern of two Sensex firms — Cipla and Sun Pharmaceutical Industries — were not available as yet.

NPCI forms six-bank panel to look into ATM fees hike

Mumbai: To make operations of ATMs viable, the National Payments Corporation has convened a committee of six banks to come up with suggestions around cost and charges for use of the ubiquitous machines. The sub-committee, which includes representatives from state-run lenders State Bank of India, Bank of Baroda and Punjab National Bank, and private sector ICICI Bank, Axis Bank and HDFC Bank, will submit report in a month’s time. The decision to form the sub-committee was taken at a meeting of the steering committee having a majority of banks as members held at the NPCI office.