Saturday, October 24, 1998
Sensex up 20 points; unaffected by S&P downgrade
The downgrading of the country's sovereign rating by international credit rating agency Standard & Poor's did not have much of an impact on share prices as reports of the government coming out with an announcement on share buy-back perked up the sentiment. The Sensex closed on Friday at 1784.86 points to register a gain of 20 points.
Rupee steady
The rupee showed signs of weakness against the dollar, falling by 10 paise in intra-day trades on Friday, as the market turned volatile after Standard and Poor's downgraded the country's sovereign ratings. The rupee, however, stabilised during the later part of trading, closing at the previous levels of 42.28/29 against the dollar.
Madhya Pradesh Electricity Board to privately place Rs 200cr debentures
The Madhya Pradesh Electricity Board (MPEB) is privately placing Rs 200-crore seven-year non-convertible debentures at a 15% coupon. The annualised yield works out to 15.56%. The issue carries a greenshoe option of Rs 100 crore.
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