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35% public shareholding norm will take time for implementation, says former Sebi chairman UK Sinha

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Former Securities and Exchange Board of India (Sebi) chairman UK Sinha feels that the 2019 Union Budget proposal to hike minimum public shareholding in listed companies to 35 percent is a good move, but will take time to be implemented.

Former Securities and Exchange Board of India (Sebi) chairman UK Sinha feels that the 2019 Union Budget proposal to hike minimum public shareholding in listed companies to 35 percent is a good move, but will take time to be implemented. The the former Sebi chairman also feels that the rules, if implemented, should apply to every listed company, irrespective of who their promoter is.
Sinha said: "If you ask me about 35 percent, my feeling is that it will take its own time and it should take its own time because 25 to 35 percent is a good move but it's a big jump. So we should provide reasonable time frame for doing that.
"The government should lead in this, the capital market rules should be agnostic to who is the main promoter or main shareholder, irrespective of that rules should apply equally to everybody only then it can be implemented."

Market Movers

CompanyPriceChange%Gain
Adani Ports694.35 47.45 7.33
Bajaj Auto4,167.10 113.20 2.79
HUL2,482.90 65.20 2.70
Bharti Airtel538.75 10.10 1.91
Grasim1,480.75 22.55 1.55
CompanyPriceChange%Gain
HUL2,480.75 63.85 2.64
Bajaj Auto4,164.95 105.95 2.61
Bharti Airtel538.90 10.20 1.93
Bajaj Finserv11,998.00 179.95 1.52
IndusInd Bank994.90 10.65 1.08
CompanyPriceChange%Loss
ONGC120.25 -4.85 -3.88
Coal India146.40 -5.75 -3.78
JSW Steel670.60 -25.75 -3.70
NTPC113.55 -3.85 -3.28
UPL808.00 -27.05 -3.24
CompanyPriceChange%Loss
ONGC120.35 -4.65 -3.72
NTPC113.55 -3.70 -3.16
M&M784.85 -20.60 -2.56
Power Grid Corp233.00 -6.70 -2.80
Nestle17,678.30 -375.20 -2.08

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CompanyPriceChng%Chng
Dollar-Rupee73.8600-0.2175-0.29
Euro-Rupee87.8770-0.4200-0.48
Pound-Rupee102.2970-0.9290-0.90
Rupee-100 Yen0.6699-0.0019-0.29