MUMBAI, March 16 (Reuters) - Standard Chartered Plc's Indian shares rose as much as 20 percent, their maximum upper limit, after the Indian federal budget on Friday proposed permitting "two-way fungibility" for Indian depositary receipts, or IDRs. U.K.-based Standard Chartered listed on the Indian stock exchanges in 2010 by issuing depositary receipts in a move to strengthen its brand and presence
The market may have reacted positively to the government’s decision to allow two-way fungibility in Indian depository receipts (IDRs) but that may not be enough to help develop the market for
BANKING: IDR holders can now redeem these for underlying stocks listed abroad
The Securities and Exchange Board of India (Sebi) has amended capital raising and disclosure norms, allowing issuers of Indian Depository Receipts (IDRs) to launch a rights issue. Also, merchant
When Neeraj Swaroop became CEO of Standard Chartered Bank for India and South Asia, even his biggest admirers would not have forecasted that he will turn India into the most profitable market for
The Insurance Regulatory and Development Authority (Irda) is not in favour of changing the norms that bar insurance firms from investing in Indian Depository Receipts (IDRs), according to a senior
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