Indian companies to list directly on Foreign Stock Exchanges: Government greenlights historic move.
Learn about India’s groundbreaking decision to allow its companies to list directly on foreign stock markets.
Find out the details of the Ministry’s notification and the potential impact on Indian businesses.
Now Indian companies will be able to be listed directly in foreign stock markets, the Ministry notified the section in this regard.
Taking an important step, the government has allowed Indian companies to be listed in foreign stock exchanges with certain conditions.
The Ministry of Corporate Affairs has notified the relevant section under the Company Act in this regard.
Currently, local companies can list overseas through American Depository Receipts (ADRs) and Global Depository Receipts (GDRs).
However, the rules for direct listing of Indian companies on foreign stock exchanges are yet to be notified.
Section five allows certain classes of public companies to list their securities in foreign jurisdictions or under such jurisdictions.
On October 13, a senior government official had said the ministry was considering various aspects, including possible eligibility criteria, to frame rules for direct listing of companies on foreign stock exchanges.
Motilal Oswal Financial Services released quarterly results after the market closed, the company’s profit increased by 4 percent.
After the market closed today, Motilal Oswal Financial Services Limited released the results for the September quarter.
The company said that its PAT has registered an increase of 4 percent in the September quarter.
Now the company’s profit after tax has increased by Rs 531.2 crore. Know the company’s quarterly results in detail.
Motilal Oswal Financial Services’ quarterly results.
The company’s PAT stood at Rs 509.3 crore in the year-ago period, Motilal Oswal Financial Services said in a regulatory filing to stock exchanges.
The company’s total revenue increased by 30 percent to Rs 1,416 crore in the quarter under review. This was Rs 1,087 crore in the year-ago period.
We have delivered a strong performance in the second quarter: CEO of Motilal Oswal.
Our capital markets business has performed remarkably, registering an all-time high quarterly profit and strengthening our retail market share in the cash and F&O segments to 7.1 percent and 7.5 percent, respectively.
The company’s capital markets business includes retail broking and distribution, institutional equities, and investment banking.
This year it recorded a PAT of Rs 180 crore in the July-September period. This registers a growth of 33 percent year-on-year.
With this, the company’s revenue in the quarter under review stood at Rs 1,019 crore, which is an increase of 41 percent year-on-year.
Today Motilal Oswal Financial Services shares fell 26.55 points and closed at Rs 1,011.50 per share.