Monday, October 26, 1998
Implement now
The prime minister's announcements at the Federation of Indian Chambers of Commerce and Industry meeting on Saturday offers hope that, at long last, we might finally see some action on getting the economy out of the morass it is in. The measures announced by the PM, if implemented speedily, could spark the much-awaited revival in the capital markets, get the PSU disinvestment process out of cold storage and eventually lead to economic revival.
Stock-lending and attendant problems
Securities lending (popularly known as stock-lending) was introduced in February, 1997, by means of a SEBI scheme. The purpose was to enable a system by which securities could be sold or otherwise used by a person, who did not currently own or physically possess the certificates.
CMC's research thrust pays off
CMC's half-yearly results indicate that the investments that the company has made in R&D has allowed it to garner higher revenues owing to its entry into high-growth areas. Now that the company is performing well, and the turnaround has coincided with a surge in the stock prices of infotech companies, this is the appropriate time for the government to disinvest.
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