NSE applied for its much-anticipated IPO on Wednesday, making mandatory disclosures that some brokers had gained unfair access to its servers, with some NSE employees potentially having conspired to provide such access. The exchange also said its trading systems may have been "prone to manipulation." The disclosures may impact the enthusiasm around its $1 billion IPO, which is potentially the biggest IPO in the last six years.  

The government has cleared a draft ordinance making it illegal to hold on to old notes - this would become a criminal offence with a fine of Rs. 10,000. The ordinance comes into effect when passed by President Pranab Mukherjee. The last date for exchanging demonetised notes is this Friday, following which people can deposit old notes only with the RBI up to March 31st next year. 

Stock in spotlight: Kalpataru Power Transmission, whose Q2FY17 had seen sales up 19.6% yoy, and profit ahead of estimates and up 21.7% yoy. The company announced today new orders worth over Rs. 1,457 crore through its listed subsidiary, JMC Projects.  

Photo of the day: Taking a run during sunrise, in San Sebastian, Spain. Javier Etxezarreta/EPA