“Wipro discloses vendor status with World Bank”. That’s the headline of the release issued to the Bombay Stock Exchange. But for Satyam’s run-in with the World Bank, few would have opened the attachment. Its contents are a shocker The World Bank has declared Wipro ‘ineligible’, in June 2007, to bid for direct contracts for four years ending in 2011. Ineligible is a mild term for a ban, which is what it is. Wipro’s disclosure shows a can of worms waiting to be prised open in several parts of corporate India. Continue Reading →
Being part of the BSE Sensex and the NSE Nifty is a privilege for a company, a sign that you have arrived. Apart from the snob value, it gives a relative boost to a company’s market capitalisation.
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The capital market regulator Sebi, has relaxed the disclosure norms for foreign institutional investors (FIIs) who issue overseas derivative instruments (ODIs). FIIs have to give a periodic disclosure to Sebi on the ODIs issued by them.