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Mumbai: The Securities and Exchange Board of India (Sebi) on Thursday said NSE and BSE would act as alternative trading venues at the time of any outage on either bourse in a bid to ensure business continuity."In case of outage of a trading venue during trading hours, the participants with open positions would be exposed to price risk on such open positions, as there could be material news flow during that time. In such a case, the multi exchange set-up along with interoperability among clearing corporations could be leveraged to provide an alternative trading venue to end investors," Sebi said in a circular.The regulator said, in case of technical glitch, the affected exchange would have to intimate about the invocation of the instant business continuity mechanism to the alternative stock exchange and Sebi within 75 minutes of occurrence of impact.The alternative stock exchange would invoke the business continuity plan as per the standard operating procedure (SOP) within 15 minutes from such intimation.If identical or correlated trading products are available on another trading venue, then participants can hedge their open positions by taking offsetting positions in identical or correlated indices on other exchange, Sebi said."As these segments are interoperable, taking offsetting positions in other trading venue would net off such open positions for end clients and release the margin. Hence, no separate treatment is required for such category of products," it said.For scrips exclusively listed on an exchange, it may have to create reserve contracts to be invoked at the time of outage on the other exchange.Further for index derivatives products not having correlated index derivatives products on another exchange, it may consider creating such an index and introducing derivatives contracts on it.This would provide an avenue to hedge positions in index derivatives products of an exchange that suffered an outage, it said.

Kolkata: LG Electronics seems to have inadvertently taken more than a leaf out of Hyundai Motor's book. The consumer electronics company is studying the India market for an initial public offering (IPO), following in the footsteps of Hyundai Motor India (HMIL), which listed last month. Possibly toward this end, LG Electronics India has created an investor relations section on its local website. With both having South Korean chaebols as parents, there are undoubtedly a lot of similarities in the processes to be followed. But it so happens that the LG investor relations section has been populated with information related to HMIL, at least at the time of filing this story. Cut-and-paste wasn't followed by search-and-replace it appears. LG and HMIL didn't respond to queries. The site features documents and details that HMIL had used for its record IPO last month. It even lists Kancheepuram in Tamil Nadu as the address of LG India's registered office and factory. This is actually the registered office and factory address of HMIL. Even the phone number mentioned is that of HMIL's Kancheepuram office. LG India's registered office is in New Delhi.115786326Broking firms said companies borrow from each other when setting up their investor sections but these are not made public until they're ready. Another person said it might have been beta testing of the section on the LG India website that went public by mistake. "South Korean companies do follow each other. LG is considering an IPO in India due to Hyundai's public listing. It's no surprise they are also building the website in Hyundai footsteps," said a senior analyst at a leading brokerage. Hyundai, Kia, LG, Samsung and other South Korean companies have similar organisational structures and sales strategies. LG Electronics' global chief executive had said in August the company is evaluating a share sale of its wholly-owned subsidiary in India. There have been media reports that LG India has appointed a battery of merchant bankers for the Indian IPO, some of whom were also used by Hyundai such as Citigroup, JPMorgan and Morgan Stanley. Hyundai's IPO was the largest ever in India with the company raising $3.3 billion, the first such share sale by the Indian unit of a South Korean company. As per news reports, the LG IPO is expected early next year with the company seeking to raise $1-₹1.5 billion, giving the Indian entity a valuation of about $13 billion.LG Electronics is about to set up its third factory in India with an investment of ₹5,000 crore and also plans to get its South Korean and Chinese component suppliers to set up plants locally. Part of the IPO proceeds might be used for the factory, industry executives said.

The number of women taxpayers is on the rise, with 22.9 million women filing income-tax returns in assessment year (AY) 2023-24 compared to 18.3 million in AY20, according to data from Lok Sabha. In the last five years, the number of women tax filers has grown 25.3%. 115781684 115781686 115781690 115781680