Monday, June 14, 1999
SBI's net likely to show 30% dip
The State Bank of India's (SBI) net profits for the year ended March 1999 are likely to be dented by the need to provide for Rs 350 crore on account of "issue expenses" relating to the $4.27-billion Resurgent India Bonds (RIB).
Centre seeks nominees on Petronet boards
The ministry of petroleum and natural gas has proposed Government nominees on the boards of Petronet LNG and Petronet India. It has done the same for the oil PSUs keeping in line with the directives issued by the department of public enterprises.
Sebi panel rejects compulsory demat of initial offerings
The Sebi panel on primary markets, headed by former State Bank of India chairman MS Verma, has spiked the move to make it compulsory for IPOs to take the demat route only. Sebi is, however, planning to set a cap beyond which shares would be allotted only in demat form while making it mandatory for issuers to provide the demat option to investors.
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