SEBI is keen on delivery-based options in commodities, said a source familiar with the development.
Pharma looks good from a valuation perspective and so the house is increasing its exposure to the space, said Ajay Tyagi of UTI Mutual Fund.
Ajay Tyagi, chairman of the Securities and Exchanges Board of India, today met with the officials of national exchanges, depositaries and Clearing Corporation for the first time since taking over office.
Eminent banker Madhabi Puri Buch today took charge as a Whole Time Member of capital markets watchdog Sebi and will oversee key departments relating to regulation, supervision and surveillance.
Tyagi is also considering changes to the seven-year-old ICDR or Issue of Capital and Disclosure Requirements. In response to market participants, SEBI will be revisiting old definitions pertaining to who constitutes a promoter. Private equity funds with a sizeable stake in a company are classified as a promoter which subjects them to disclosure norms. As such PEs have been lobbying hard with the market regulator to have the ‘promoter’ tag removed.
Tyagi, 58, will also inherit from outgoing SEBI Chairman U.K. Sinha critical regulatory decisions, including whether to penalise India's largest exchange, National Stock Exchange, over potential trading violations and whether to adopt tougher rules against high-frequency traders.
"We have also taken a number of measures to ensure for example the type of incidence that have happened outside India and once or twice in India as well, they are not repeated by putting checks on the size of the order you can put and in what manner you can put," outgoing SEBI chief UK Sinha said.
In his last press briefing before handing over the SEBI reins to Ajay Tyagi on March 1, Sinha said his team had ensured swift action on violations and said he was demitting office with the capital markets in order.
A week after announcing the appointment of Ajay Tyagi as the next SEBI chief, the government on Friday cut down tenure of the SEBI Chairman-designate from 5 years to 3 years.
Tyagi will now join as the Securities and Exchange Board of India (Sebi) Chairman for an initial period of three years, official sources said today, without citing reasons behind the curtailment of his term.
This is was UK Sinha‘s last meeting as SEBI Chairman, before Ajay Tyagi, who was appointed on Friday evening, takes over from March 1
A day after being named the next Sebi chief, senior bureaucrat Ajay Tyagi today said it is a big responsibility and he is looking forward to handling it.
Finance Minister Arun Jaitley today said Sebi is evolving as per the requirements of the economy and markets as a professional organisation, as he discussed his Budget initiatives with the markets regulator.
Senior IAS officer Ajay Tyagi will take over as the chairman of Securities and Exchange Board of India when outgoing SEBI chief UK Sinha‘s tenure ends on March 1, 2017.
Sources have told CNBC-TV18 that Ajay Tyagi, Additional Secretary for Economic Affairs in the Finance Ministry, and PK Pujari, the Power Secretary, are in the running to head the country's market regulator.
A government appointed panel has suggested setting up a Financial Data Management Centre (FDMC) for managing the repository of financial regulatory data to ensure stability in the economy.
The process for selecting the next chief of the Securities and Exchange Board of India (Sebi) started in September, pursuant to which several applications were received for the position.
Three senior bureaucrats, including Economic Affairs Secretary Shaktikanta Das, are believed to be in contention for the post of capital market regulator Sebi Chairman after the extended tenure of incumbent UK Sinha ends early next year.
Analyst believe that destination tax, if it goes through in US then it will impact many emerging markets significantly. On the other hand, Ajay Tyagi of UTI MF says India will be relatively less impacted because 70 percent of the country's GDP is domestic consumption.
Ajay Tyagi of UTI Mutual Fund is of the view that market could see some bit of correction as it is already trading at the upper-end of fair valuation.
The Finance Ministry hopes that foreign portfolio investors' (FPIs) exposure to the domestic bond markets will rise from the present 65 per cent of their permissible ceiling of USD 51 billion.
Indian investors must temper their equity investments a little bit if markets see a sharp rise, and use intermittent corrections to buy shares, Ajay Tyagi, Fund Manager at UTI Asset Management Company, says.
Speaking to CNBC-TV18 Ajay Tyagi, EVP & Fund Manager of UTI Mutual Fund, said markets are trading at the upper end of their fair valuations. "Monsoon, GST getting passed in this session of the parliament have all been baked into valuations. What will move the market will have to be earnings growth."
"The government of the day is making all out efforts and trying its best to create consensus for the smooth passage of GST and the upper house of Parliament would be able to pass the legislation in the forthcoming session of Parliament", Ajay Tyagi ,Additional Secretary in Finance Ministry said at an event here.