Mumbai: The Securities and Exchange Board of India (Sebi) on Tuesday allowed stock exchanges to launch option contracts with tenure of up to five years based on the benchmark indices of the Bombay Stock Exchange and the National Stock Exchange.
The regulator had allowed the exchanges to introduce index options of up to three years in January 2008.
Sebi said the five-year index options would be required to have eight semi-annual contracts of the cycle June/December. These contracts must have to come in a sequence of three consecutive monthly contracts and three quarterly contracts of the cycle March/June/September/December.
Kotak Mahindra Bank to consider stock split
Mumbai: Private lender Kotak Mahindra Bank Ltd’s board will meet on 11 May to consider a stock split, the firm said in a filing to the Bombay stock Exchange on Monday.
On Monday, the country’s largest mortgage lender Housing Development Finance Corp. Ltd announced a 1:5 split for its stock, priced at Rs10 each, to make the face value of the shares Rs2 each.