SHCIL expects Securities and Exchange Board of India (SEBI) to give clearance for becoming a clearing member with National Stock Exchange and Bombay Stock Exchange to pave the way for launching the `sell-N-cash' service within the next few days, SHCIL managing director B V Goud told reporters here today.

Goud said SHCIL was awaiting Reserve Bank of India (RBI) approval for setting up a bank that would cater to all the needs of the capital market. SHCIL will charge service charges of two per cent for these sell-N-cash facility, inclusive of the commission of the investor's broker. Under the facility, SHCIL would debit investor's depository account on receiving confirmation of the price at which trade has taken place and then issue a cheque the same day for the value of the shares sold minus theservice charge, he said.

SHCIL, which has transited from custody services provider to the country's largest depository participant, opened nearly 30,000 beneficiary accounts last month to cross 2,65,000 accounts of individuals, non-resident Indians, and corporates.

Maruti sales down by 19 pc in Oct
NEW DELHI: Maruti Udyog Limited has registered a 19 per cent growth in sales at 2,20427 units during the first seven months of this financial year even as the company's sales during the month of October came down drastically by 19 per cent at 28,179 cars compared to the previous month. While sale of Zen came down by 14 per cent at 6382 units in October compared to 7451 in September, that of Maruti 800 declined by 15.5 per cent at 15581, Omni by 33.3 per cent at 5069, Maruti 1000 by 59 per cent at 22 and Esteem by 24% at 1147.