Arbitrage business to stay under derivatives system
Contrary to the common perception that with the scrapping of the badla system, the lucrative arbitrage business on the various stock exchanges would disappear, rolling settlements and options in stocks (OIS) would provide ample individual arbitrage opportunities on the two main bourses.

FIRE to join hands with Amfi again
The US-aided project on Financial Institutions Reform and Expansion (FIRE) would once again be active in India to make suggestions for improving the domestic mutual funds industry and the capital market in particular.

Sebi tells BP-Amoco to make open offer for Foseco in 45 days
The Securities and Exchange Board of India (Sebi) has directed the UK-based BP-Amoco Plc to make an open offer within 45 days from Monday (June 11) to acquire shares of Foseco India Ltd (FIL) from its shareholders.

Sebi chief hears shareholders, others in GR pricing issue
The Sebi chairman DR Mehta on Monday heard German Remedies (GR) shareholders and other parties involved in a dispute over the allegedly differential pricing of the open offer for GR by Zydus Cadila. Other parties who made presentations included Zydus Cadila, its merchant banker DSP Merill Lynch and the aggrieved GR shareholders.

Defensive stocks help Sensex gain 13 pts
The shifting of buying interest to defensive stocks belonging to FMCG and pharma sectors and consistent offloading of new economy stocks by domestic mutual funds saw the Sensex closing the day in the positive territory. It gained 13 points while S&P CNX Nifty was up by 3 points.

Other Headlines

ING, SBI, LIC MFs’ equity schemes top losers in ICE slide
Cap-It-All offloads Castrol, speeds ahead
Mixed trend likely to continue
Jayshree Tea offers to buy back shares at Rs 75