Sebi Chairman Pandey Discusses Indian Equity Market Resilience

Sebi Chairman Tuhin Kanta Pandey stated that Indian equity markets show limited volatility despite global turbulence, with a VIX value under 14. He emphasized the need for more independent directors in listed companies and progress on the minimum public shareholding mandate for state-run firms.

Sebi Chairman Tuhin Kanta Pandey, in his first press briefing as chairman, highlighted the stability of Indian equity markets despite widespread global uncertainty. Pandey emphasized that the country's volatility index (VIX) stands below 14, mirroring its September levels of last year.

Pandey explained that, given global market conditions, a higher VIX might have been expected. However, Indian markets have shown robustness and have attracted buyer interest even after recent market corrections. The Sebi chairman also discussed the importance of appointing adequate independent directors in listed companies.

Pandey noted progress on the minimum public shareholding requirement in state-run companies and reassured that Sebi will continue working with government departments to ensure compliance. However, he acknowledged that the poor condition of some companies could deter potential buyers even if the government decided to divest stakes.

(With inputs from agencies.)