BUDGET 2000
SPECIALS
INTERVIEWS
COMMENTARY
GOVT&ECONOMY
Y2K: BIZ FEATURES
INDIA & THE WTO
CREDIT POLICY
BIZ IN THE USA
CARS & MOBIKES
MANAGEMENT
CASE STUDY
BIZ-QUIZ
USEFUL INFO
ARCHIVES
NEWSLINKS
SEARCH REDIFF

Rolling settlement will not only continue but encompass all scrips: SEBI

D R Mehta, chairman, Securities and Exchange Board of India or SEBI, on Wednesday ruled out the withdrawal of the rolling settlement procedure introduced by it.

Mehta, who was in Bangalore to participate in the inauguration of BGSE Financials Limited, a subsidiary of Bangalore Stock Exchange, told newsmen later that the process was implemented as part of the market reform process and in the interest of investors. The board would go ahead and extend the process to all scrips, he said.

The rolling settlement process would gradually cut down the volatility of the market with majority of the scrips being in demat form. About 80 per cent of the scrips regularly traded were in demat form facilitating easy transfer and settlement, Mehta said.

He was emphatic that the Indian capital market was stable. The regulatory framework in place has strong fundamentals. However, he would not speculate on the movements of the market and said the market would `level out'.

He suggested the stock brokers caution the investors on various speculative shares without proper fundamentals. He said the investors should have to be advised on these aspects to look for investment on shares which have strong fundamentals.

The much awaited futures trading would be in place within two months, he added.

UNI

Business