indian stock exchange

London Stock Exchange woes Indian companies

New Delhi: The London Stock Exchange (LSE) is eyeing Indian firms seeking to raise funds in overseas markets to list on its bourse in London by relaxing some of its provisions on track record, minimum market cap or net positive earnings for them.

Ibukun Adebayo, manager, international business development, London Stock Exchange, said that since the LSE was targeting young and growing companies, it did not require any track record, minimum market cap and positive earnings. "We believe in common-sense regulation," Adebayo said.

He said so far 21 Indian companies were listed on the AIM with more seeking admission as the requirement for funds could not be fulfilled from domestic resources alone.

In 2006, companies raised $26 billion on LSE's alternative investment market (AIM) -only $78 million dollars below the amount raised on the US electronic exchange, Nasdaq.

foreign currency exchange rates

Businesses urge govt to define 'hoarding'

Country's businesses yesterday urged the government to provide them with a guideline defining the volume of stock of essentials that will be treated as hoarding.

Business leaders from across the country also promised their all-out cooperation with the government actions against the hoarders and food adulteration and sought revision of the law regarding stockpiling of essential products.

"To meet the market demand I need to maintain a reserve of 500 sacks of rice every day. But, if the joint force finds such an amount of rice at a place, they suspect it as hoarding, and the businessmen are harassed," said Shahjahan Mollah, president of Faridpur Chamber of Commerce and Industry.

There is no doubt that the joint force is working for collective interest but they should understand the reality and try to feel which actions are actually required to benefit the people, he said.