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Sep 18, 2014

LIC chairman bullish on Indian markets

MUMBAI (Reuters) – Life Insurance Corporation of India (LIC) Chairman S. K. Roy said he was “very bullish” about the banking, pharmaceutical, metals and IT outsourcing sectors because of expectations for a cyclical recovery and a stabilising rupee currency.

LIC, India’s most powerful investor, is also positive on the capital goods sector, Roy told Reuters in an interview at his office in Mumbai.

Jun 19, 2014

India proposal to cut state holdings in firms to spur $10 bln in share sales

MUMBAI, June 19 (Reuters) – India’s capital market regulator
said the government should dilute its stake in listed
public-sector companies over the next three years and cap it at
75 percent, a recommendation if taken would lead to at least $10
billion worth of share sales.

The recommendation was one of several drawn up by the board
of the regulator following its first meeting after the
pro-business government led by Prime Minister Narendra Modi came
to power.

Jun 16, 2014

SEBI has it all to prove in insider probe

MUMBAI (Reuters) – India’s stock market watchdog SEBI, long lambasted as toothless, has more resources than ever before to spot rogue trades. Even though it has singled out a hedge fund as the target of its first major trading probe, detractors remain unconvinced.

What they need to see is a high-profile bust.

The Securities and Exchange Board of India (SEBI) hopes it will achieve just that after accusing Hong Kong-based multi-asset fund Factorial Capital Management Ltd of shorting L&T Finance Holdings Ltd using information allegedly leaked by bankers on a cut-price share offering.

Jun 16, 2014

Indian regulator has it all to prove in insider probe

MUMBAI, June 17 (Reuters) – India’s stock market watchdog,
long lambasted as toothless, has more resources than ever before
to spot rogue trades. Even though it has singled out a hedge
fund as the target of its first major trading probe, detractors
remain unconvinced.

What they need to see is a high-profile bust.

The Securities and Exchange Board of India (SEBI) hopes it
will achieve just that after accusing Hong Kong-based
multi-asset fund Factorial Capital Management Ltd of shorting
L&T Finance Holdings Ltd using information allegedly
leaked by bankers on a cut-price share offering.

Jun 6, 2014

Indian regulator may probe Credit Suisse in insider trading case

MUMBAI (Reuters) – India’s stock market regulator may investigate the domestic unit of Credit Suisse Group to determine whether price sensitive information about a share deal that the authority has ruled to be insider trading was leaked by the investment bank.

The Securities and Exchange Board of India (SEBI) on Thursday accused Hong Kong-based multi-asset fund Factorial Capital Management Ltd of shorting L&T Finance Holdings Ltd before the announcement of a share sale in mid-March.

Jun 6, 2014

SEBI accuses Hong Kong hedge fund Factorial of insider trading

MUMBAI (Reuters) – The Securities Exchange Board of India (SEBI) accused Hong Kong-based Factorial Capital Management Ltd of insider trading, saying it suspected the hedge fund had shorted L&T Finance Holdings Ltd (LTFH.NS: Quote, Profile, Research) before the announcement of a share sale in mid-March.

The stock market regulator on Thursday also reserved the option of looking into Credit Suisse’s Indian unit, which had been the broker for L&T Finance’s share sale, but did not accuse the investment bank of any wrongdoing or announce the start of an actual investigation.

Jun 6, 2014

Indian regulator accuses Factorial of insider trading

MUMBAI, June 5 (Reuters) – India’s stock market regulator
accused Hong Kong-based Factorial Capital Management Ltd of
insider trading, saying it suspected the hedge fund had shorted
L&T Finance Holdings Ltd before the announcement of a
share sale in mid-March.

The Securities Exchange Board of India (SEBI) on Thursday
also reserved the option of looking into Credit Suisse’s Indian
unit, which had been the broker for L&T Finance’s share sale,
but did not accuse the investment bank of any wrongdoing or
announce the start of an actual investigation.

Jun 5, 2014

SEBI accuses Factorial of insider trading

MUMBAI (Reuters) – The Securities Exchange Board of India (SEBI) has accused Hong Kong-based Factorial Capital Management Ltd of insider trading, saying it suspected the hedge fund had shorted L&T Finance Holdings Ltd before the announcement of a share sale in the company in mid-March.

SEBI on Thursday also reserved the option of looking into Credit Suisse’s Indian unit, which had been the broker for L&T Finance’s share sale, but did not accuse the investment bank of any wrongdoing or announce the start of an actual investigation.

Jun 5, 2014

India’s market regulator accuses Factorial of insider trading

MUMBAI, June 5 (Reuters) – India’s stock market regulator
accused Hong Kong-based Factorial Capital Management Ltd of
insider trading, saying it suspected the hedge fund had shorted
L&T Finance Holdings Ltd before the announcement of a
share sale in the company in mid-March.

The Securities Exchange Board of India (SEBI) on Thursday
also reserved the option of looking into Credit Suisse’s Indian
unit, which had been the broker for L&T Finance’s share sale,
but did not accuse the investment bank of any wrongdoing or
announce the start of an actual investigation.

Jun 5, 2014

Idea raising up to $506 million via share sale as markets revive

NEW DELHI (Reuters) – Mobile operator Idea Cellular is raising up to $506 million through a share sale, it said on Thursday, seeking to tap growing demand for equities after a landslide election victory for new Prime Minister Narendra Modi.

The phone carrier, part of the diversified Aditya Birla conglomerate and about a fifth owned by Malaysia’s Axiata, will use the funds raised to buy radio airwaves, according to a deal termsheet seen by Reuters.