MxMIndia

Tag: NSE

  • Death and destruction are a small price to pay when journalists and media owners remain enamoured of the fascist ideal, writes Ranjona Banerji

    Selective in our glee and anger

     

     

    Ranjona BanerjiBy Ranjona Banerji

     

    One of the biggest stories of the week was about how the National Stock Exchange, a prime market regulator, was “managed” by a “guru” in the Himalayas, because the CEO and MD Chitra Ramkrishna, was enthralled by him.

     

    If that fact is not absurd enough, the story, details broken by redoubtable business and financial journalist Sucheta Dalal, co-owner and editor of MoneyLife.in, reveals what was really happening. Ramkrishna colluded with Anand Subramanian, a consultant she hired against all norms, and allowed him to run the NSE, sharing all manner of confidential information with him.

     

    The Securities and Exchanges Board of India, our market watchdog, allowed this continue for years, asking the NSE to investigate itself. Ramkrishna resigned in December 2016. The details of the subsequent investigation have just been released by SEBI.

    https://www.moneylife.in/article/nse-mismanagement-chitras-weird-himalayan-yogi-and-sebis-weak-order-push-indias-image-back-to-snake-charmers-and-holy-men/66406.html

     

    Dalal’s investigation and analysis reveal that the NSE’s functioning continues to be irrational and it continues to be given a long rope by SEBI.

     

    You know what I’m going to say, but even if I’m predictable, I’m not wrong. In any other time and place there would be massive media activity and public anger. After all, the media is full of glee every time the stockmarket goes berserk. It also links market activity with political greatness.

     

    And yet, when we discover that one of our premium institutions has been not just mis-run but run by fraud and this fraud has been covered up by our prime regulatory body, reactions are limited to the pink papers, to financial publications and to the smaller money world.

     

    Journalists in a normal world absolutely thrive on allegations of fraud, financial wrongdoing, sexual hanky-panky, lies, mismanagement. But when it comes to the last almost eight years, we are oh-so selective in our glee and anger.

     

    There are after all, several election rallies, Narendra Modi’s wardrobe changes, and plenty of opportunities to increase hatred against Muslims. Why should the NSE supposedly being run by some Himalayan yogi matter, eh?

    https://www.bloombergquint.com/business/chitra-ramkrishna-sebi-order-if-only-a-yogi-ran-the-nse

     

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    Increasing hatred against Muslims is a full-time occupation not just for the RSS-BJP but also for a number of media houses.

     

    The assault on students wearing hijabs has continued, even as the sudden ban on head scarves is being argued in the Karnataka High Court. And now the town of Shivamogga is engulfed in sectarian tension, after violence broke out during the funeral procession of a young member of Bajrang Dal, Harsha, 28, a tailor, who was beaten up and died from his injuries.

     

    The BJP immediately claimed Muslims were responsible and Shivamogga district minister KS Eshwarappa blamed Congress leader DK Shivakumar, while home minister Araga Jnanendra denied any link between Harsha and the hijab issue. The police arrested people with Muslim names, as one would expect, but also pointed to “old rivalries”.

     

    Despite curbs on large gatherings, a huge mob of Bajrang Dal members accompanied Harsha’s funeral procession, stoning shops and setting fire to vehicles along the way.  The police were forced to use teargas and lathicharges to disperse the crowds.

     

    I repeat all these facts just to underline the patterns which we see around us over and over again.

    https://timesofindia.indiatimes.com/city/bengaluru/karnataka-violence-mars-activists-funeral-procession-curfew-in-shivamogga/articleshow/89737133.cms

     

    The escalation of Hindu violence against Muslims is a direct result of the RSS-BJP’s own policies, nothing new there. But the almost total collusion of the Indian media remains a shock, even if we should be used to it by now. TV channels owned by India’s biggest business houses, and some with foreign collaborators like News 18 and CNN, apparently find it acceptable to pit one section of Indian society against another for political gain of the most nefarious sort.

     

    Sadly, we are trapped in this cycle. As long as the BJP wants to keep the hijab issue alive, as one more way to crush Muslims, the Indian media will continue to play ball. Death and destruction are a small price for them to pay when journalists and media owners remain enamoured of the fascist ideal.

     

    Ranjona Banerji is a senior journalist and commentator. She writes on MxMIndia on Tuesdays and Fridays. Her views here are personal

     

  • The new brand logo emphasizes on the letter ‘N’ and an upward rising graph, signifying growth and momentum

    NSE launches new brand identity for Nifty Indices

    By A Correspondent

     

    The National Stock Exchange of India (NSE) launched a new brand identity for Nifty Indices earlier this week. The new brand logo emphasizes on the letter ‘N’ and an upward rising graph, signifying growth and momentum, capturing the new direction for the Indian capital markets.

     

    Said Vikram Limaye, MD and CEO, NSE: “NSE, over the years, has evolved as the driving force of capital markets in India. NIFTY Indices, more particularly the NIFTY 50 index, has become synonymous with equity markets and reflected the growth story of Indian equity markets. The new logo for NIFTY will further strengthen its identity as the leader in the index space. We will continue to develop innovative indices for various investment products that are useful to retail as well as institutional investors.”

     

     

  • The agency, which works mostly with public sector firms, has become the first advertising agency in the country to get listed

    Pressman Advertising gets listed in BSE & NSE

    By Shambhavi Anand

     

    Kolkata-based Pressman Advertising, which works mostly with public sector firms, has become the first advertising agency in the country to get listed. The agency got listed on both the National Stock Exchange and the Bombay Stock Exchange, under new rules that allow SMEs and startups to list without going through an initial public offering.

     

    “We have not listed ourselves to raise funds, but to open ways for future growth and strategic alliances,” said Navin Suchanti, director and promoter, Pressman Advertising. He said the agency has no immediate plans for any alliances. “Our intent is to be known for good corporate governance and transparency, which will pave way for future opportunities,” Mr Suchanti added.

     

    Pressman has a large basket of public sector clients and hopes that the transparency brought about by the listing will give it more credibility. It works with clients such as Bharat Sanchar Nigam (BSNL), Delhi Jal Board, Food Corporation of India, Maxwell Industries, Mother Dairy, National Disaster Management Authority, National Fertilizers, National Highways Authority of India, National Law School of India, NHPC and NTPC, to name a few.

     

    Pressman has around 100 employees, 55 of whom also hold stake in the company. The shareholder base stands at 22,000 post-listing. The agency, with offices in eleven cities, operates in four areas – advertising, public relations, digital and financial communications. It reported a net profit of 6.29 crore for the financial year ended March 2013, on sales of 43 crore.

     

    Pressman Advertising shares closed at Rs 12.50 on the NSE at close of trade on Thursday, putting the agency’s market cap at nearly Rs 30 crore.

     

    Source:The Economic Times

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