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Infra-focussed PE fund raising to gain steam in 2010
Infrastructure focussed private equity fund raising is likely to rise next year as investors consider it a safer option that will balance their investment portfolio, according to global research firm Preqin. http://smallpersonalloans.org.uk

GM India to open five more used car centres
With a view to tap the growing used car market in the country, General Motors (GM) India Limited plans to roll out five more Chevy Ok used car centers within a fortnight. GM India has already opened 17 such centres across the country and these centres have recorded over 500 transactions. “GM India has got a very good response to its used car business in the country. We are going to add five more Chevy Ok centres in different locations within a fortnight,” P Balendran, vice-president (sales), GM India told Business Standard.

News of the day

FinMin not opposing new FDI norms
Shedding earlier reservations over some aspects of the controversial new FDI guidelines, the Finance Ministry now says it does not have any objection to new rules that changed the criteria for calculation of foreign ownership in a company and its downstream investment.
Public Relations

NSE brokers to approach Sebi, govt on extended trading hours

After the Bombay Stock Exchange (BSE) Brokers Forum, the Association of National Stock Exchange Members of India (ANMI) has decided to approach the government and the Securities and Exchange Board of India (Sebi) on extension of trading hours from January 4. - Positive returns on the cards, but no sharp surge - "At best, equities will offer 15-20% returns" - Markets to be buoyant before ringing in 2010: analysts - 2009: A year of reforms in education - BSE, NSE, forex markets close today - Markets at a glance Though the ANMI, like the BSE Brokers Forum, is not completely opposed to the move, it says a weak banking infrastructure may create chaos when the markets open at 9 am, 55 minutes before their current opening time. Intense rivalry has prompted both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) to advance their market opening time to 9 am from January 4. The NSE will be the biggest beneficiary of the move as 98 per cent derivatives trades are done on its platform. According to sources, while not many members of the ANMI are opposing the move, they want an upgrade of the banking system. “One of the major problem is the weak clearing system of domestic banks. The ANMI has decided to urge the Reserve Bank of India to fast-track its clearing system before January 4,” said a Mumbai-based stock broker. For brokers, arranging margin funds from clients could be a problem after the new timings come into force as banks do not open around 8 am. Also, brokers say that the real time gross settlement system, where cheques are cleared in a few hours, has operational issues. Also, RBI recently told banks to classify only cheques of Rs 10 lakh and above for high-value clearing. Other cheques could take two days to be cleared.


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