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Revenue lands will be sold to support budget: Anam
- This was a normal practice in many States.
- Sale of lands was projected as a revenue source for the first time in the 2009-10 budget when its size was fixed above Rs. 1 lakh crore.
- But, the target set, about Rs. 12,000 crore, could not be fully achieved.
- However, the government continued to tap this source for the subsequent budgets also but failing to achieve the full target again.
Sebi sets new terms for the listing day
- The market regulator on Friday announced additional controls for initial public offers (IPOs) and relisted scrips to curb excessive volatility on the listing day.
- The market regulator extended the call auction mechanism for price discovery to IPOs and relisted scrips, apart from placing price bands during the normal trading session on the first day of trading.
- Currently, the call auction mechanism is applicable only to Sensex and Nifty stocks.
- During the call auction, which would take place from 9 am to 10 am, the first 45 minutes shall be allowed for order entry, order modification and order cancellation. Subsequent 10 minutes would be for order matching and trade confirmation and the remaining five minutes shall be the buffer period.
- The market regulator had cracked down on seven recently listed small companies last month for price manipulation and concealing material facts.
